Last Week in DeFi - UniswapX Live, MetaMask Airdrop Checker, Swell L2 Pre-Deposits, Proposal on Tokenomics Upgrade, and more....
Recap: Week of April 8th
Launches π
Nomic launched stBTC on testnet. stBTC is a Bitcoin liquid staking token powered by the Bitcoin staking protocol Babylon. Nomic will implement Babylonβs Bitcoin staking solution to make Nomic dual-secured by staked NOM and BTC via Babylon.
Layer N, a new type of layer 2 that operates as an execution layer for rollups, launched Public Testnet Phase I. At this phase Layer N allows developers and users to experiment with NordVM, an app-specific rollup optimized for asset exchanges.
EigenLayer and its data availability layer EigenDA launched on the Ethereum mainnet, enabling new functionality for restakers, operators, AVSs, and rollups.
Fantom announced the launch of Fantom's canonical stablecoin, USDC.e, supported by Circle and Wormhole. It will be the official, endorsed stablecoin of the Fantom ecosystem (and all future network upgrades).
UniswapX is live on the Uniswap web app interface. UniswapX offers better prices by aggregating liquidity sources, with gas-free swaps and MEV protection.
Updates π°
PancakeSwap teams up with Orbs Network to launch TWAP and Limit Orders on the BnB chain and plans to extend this feature to multiple chains.
MetaMask partners with Daylight, allowing users to check their airdrop and NFT claim eligibility across multiple chains in the single interface of MetaMask Portfolio.
IndexCoop High Yield ETH index (hyETH) presale is live. Presale supporters will be incentivized with IndexCoopβs Product Revenue Tokens (PRTs). PRTs offer presale participants a share of product revenue after it is launched.
Angle started the private beta for USDA, allowing veANGLE holders and partner NFT/token holders to use USDA and earn OP tokens.
Immutable introduced Immutable Nexus, a gaming-chain ecosystem that offers platform support for Dedicated zkEVM chains on Immutable.
nftperp, a perpetual futures DEX for NFTs, is open to everyone without requiring an invite code.
Andre Cronje proposed ideas for a safer environment for meme coins on Fantom, including common concerns and token allocation rules that mitigate risks.
PancakeSwap collaborates with Stryke (formerly Dopex) to introduce CLAMM options trading, a dual liquidity provision system for options traders (buyers), and PancakeSwap v3 pools. CLAMM options allow users to trade options, earn premiums, and earn swap fees on Arbitrum.
Suilend launched out of beta and is now open to anyone. Suilend went live a month ago and was only accessible for beta pass holders.
After MakerDAOβs debt ceiling increased to 1 billion DAI, Spark has allocated another 100 million DAI (after a previous deployment) to its USDe/DAI and sUSDe/DAI markets on Morpho Blue and is contemplating an additional 100 million DAI.
Gains Network has boosted the burn rate to 15% on Arbitrum for DAI trades, meaning that 15% of traders' losses will be used to buy back and burn GNS.
Issues π¨
The founder of Marginfi, a Solana-based trading protocol, announced his resignation on Wednesday, citing disagreements on βthe way things have been done internally or externallyβ. The Marginfi team reassured users on X that βall products remain fully operational and are unaffectedβ.
Uniswap received a Wells Notice from the SEC on Wednesday. A Wells Notice is a formal notice that the SEC intends to bring charges against a respondent.
Solana experienced network congestion as more projects and users flocked to use its ecosystem. Anza, a Solana-focused development firm, is testing a patch and will release fixes for the validator client implementation this week.
Upcoming β³
IPOR Labs announced IPOR Fusion, an automated asset management feature for retail participants, protocols, funds/fund managers, and DAO treasuries.
Sui Network announced SuiPlay0X1, a we3 handheld gaming device powered by gaming OS company Playtron. SuiPlay0X1 will be available in stores in 2025 and users can now join the waitlist.
1inch announced the 1inch Card in partnership with MasterCard. The 1inch Card will allow users to use their crypto for online and in-person purchases, and make cash withdrawals at supported ATMs through crypto to fiat conversion.
Jupiter's founder announced upcoming upgrades to tackle recent issues. The upgrades include redesigning Jupiter markets and token system, a new token listing approach, Oracle solutions, etc.
Treasure DAO unveils details for launching Treasure Ruby Testnet (v1). The Testnet and Treasure Portal will be live on April 22nd. Mainnet is targeted in Q3, with upcoming new partnerships, staking, and reward programs.
Solv and Merlin Chain announced a partnership, establishing SolvBTC as the primary asset for staking on the Merlin Network's PoS mechanism.
Oyster Labs and TON introduced Universal Basic Smartphone (UBS), a smartphone for Telegram users. The presale is live with the pre-order price sitting at $99.
Kava will release Kava AI and AI Marketplace. Kava AI is a decentralized chatbot that will be governed by the community and fully open source.
Airdrops πͺ
Aave ACI proposed to continue the Merit reward system for 12 more months with a $5 million quarterly budget, after its success in drawing Ethereum liquidity from Morpho and supporting GHO's stablecoin ecosystem.
ZeroLend, a zkSync-based lending protocol, announced an airdrop program that will drop 5% ZERO before TGE. ZeroLend also announced that the protocol will be feeless from April 11-29.
Swell L2 pre-launch deposits are live. Depositors can earn airdrops from Swell & projects on Swell L2, a share of 1M EigenLayer points, and points & yield of deposited assets.
Napier launched Llama Race and Quest 1, allowing users to earn Napier Points.
Zeta Market Z token and a 1M airdrop are expected to launch in May, with a snapshot announcement in the next few weeks.
deBridge introduced deBridge Points. Users can view their accrued points on the dashboard and earn new points by making bridge transfers, referrals, etc.
Ethena introduced ENA into Season 2 to align USDe growth with ENA.
Users who lock ENA at a minimum of 50% of their total USDe holdings per wallet will receive a 50% increase in their rewards and the highest number of rewards per day of any pool.SynFuturesβs first snapshot for O_O points was taken on April 9th.
WooFi staker snapshot for Floor Protocol airdrop has been taken. To claim their FLC airdrop, eligible stakers must meet 2 criteria at the time of a second snapshot that will be taken on April 15th at 00:00 UTC.
Farms π§π»βπΎ
Maple Finance offers good yields on USDC, BTC, ETH, and SOL lending.
zkLend on Staktnet offers good supply APYs on STRK, ETH, USDT, and USDC pools.
Today in DeFi Premium includes early looks at promising projects, yield farming tips, and research to help you get the most out of DeFi.
For example, last week we published the following features for our Premium Subscribers:
Earn >30% APY on ETH + Dividends
Earn >80% APR on Stablecoins
Earn 100x shards and EigenLayer Bonus on L2
and moreβ¦
If you havenβt, subscribe today with a Credit Card or Crypto (get discounts on quarterly or yearly subscriptions).
Keep reading with a 7-day free trial
Subscribe to Today in DeFi to keep reading this post and get 7 days of free access to the full post archives.