Last Week in DeFi - WazirX Hacked for $235M, Ether.fi Season 2 Claim, Sanctum CLOUD Claim, MATIC->POL Migration Coming, and more....
Recap: Week of July 15th
Launches π
Hermetica launched USDh on Runes. USDh is the first Bitcoin-backed, yield-bearing stablecoin on Stacks and Runes. Users can stake USDh to earn up to 25% plus points.
Chromia L1 launches its MVP mainnet. This release introduces the native CHR token, enabling the migration of ERC-20 and BEP-20 CHR tokens to the network.
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Updates π°
Uniswap wallet extension is open to the public. The extension introduces sleek UX, a new sidebar design, and multichain support, and is open-sourced.
Aevoβs basis trading vault is live. Users can deposit USDC to earn yield in USDC and get extra incentive rewards in $AEVO.
Convergence for Convex is live, featuring a CVX liquid-locker, and a boosted staking solution for Convex's liquid wrapper tokens. Depositing Convexβs liquid locker tokens (cvxTKNs) into Convergence allows stakers to claim optimized native rewards plus CVG.
F(x) protocol has launched cvxUSD and xCVX. Users can mint cvxUSD to get staked CVX yield without volatility or get up to 3X leverage on CVX, by minting xCVX.
Pencils protocol has integrated Solv. SolvBTC holders on Scroll L2 can now supply their tokens to Pencils for farming.
Blast announced that the bridging period from Blast to Ethereum Mainnet has been reduced from 14 days to 7 days.
Syrup.fi, an institutional yield protocol built by Maple Finance, is now live for public access.
Worldcoin token lockups will be extended from 3 to 5 years for early investors and team members. Starting July 24, 2024, the THT team (lead dev of Worldcoin)βs WLD tokens will unlock daily over a five-year period.
Spark Lend announces parameter changes including a reduction in the effective DAI borrowing rate from 9% to 8%. Furthermore, the Dai savings rate on the Ethereum mainnet will be reduced from 8% to 7%, pending approval from an execution vote.
Kwenta launches on Arbitrum with Perennial integration. Kwenta traders can now earn a share of 1.9 million ARB granted by the Arbitrum DAO.
Ethena governance highlights include launching an Ethena instance on Aave V3, adding sUSDe Pendle PTs as collateral on Morpho via Spark, and adding USDe to GMX.
The SEC has concluded a 3+ year investigation into the Stacks blockchain and Hiro Systems with no recommended enforcement action.
Drift has launched Drift Earn with a revamped UX and supercharged lending yields (~10-40% APR). The yields come from cross-margin perpetual trading yields.
zkLend has enabled claiming for the ZEND deposits and STRK DeFi Spring rewards.
Issues π¨
Indian crypto exchange WazirX was hacked for $235M due to a security breach on one of the exchangeβs multi-sig wallets. WaxirX has temporarily paused withdrawals while seeking resources for recovery. According to @zachxbt and Elliptic, the North Korean Hacker Group Lazarus is likely behind the hack.
LiFi bridging protocol was exploited for over 8 million dollars, with the attacker focusing on particular accounts. Users were encouraged to avoid interacting with any apps (e.g. Jumper exchange) powered by LiFi.
Minterest has encountered a security breach on Mantle L2. The breach led to the theft of $1.4 million in tokens, specifically mETH and WETH.
Upcoming β³
Polygon plans to migrate from the MATIC token to the new POL token on September 4. POL will replace MATIC as the native gas and staking token for Polygon PoS and serve a crucial role in the AggLayer. MATIC holders on Ethereum will need to upgrade to POL through the migration contract.
TON Foundation introduces TON Teleport, a product that will allow users to bridge to transfer (βpeg-inβ and βpeg-outβ) BTC between the Bitcoin blockchain and TON.
Y2K Finance proposes Fractality Protocol, a lending protocol where users can deposit crypto assets and earn a variable yield.
Berachain dev introduces The Sink, an L2 that aims to democratize Native Yield using two core primitives: a Simple V2 DEX featuring a bribe mechanism and a CDP featuring a stakeable stablecoin.
IoTeX has released its 2.0 whitepaper, marking a strategic upgrade from a Layer 1 public blockchain to a 'DePIN Modular Open Ecosystem'.
Sanctum founder announces post-TGE product developments, including Sanctum Launchpad, Sanctum Profiles V2, and the first LST-powered debit card (Sanctum Pay).
MakerDAO founder posts about NewGovToken Activation. When Spark SubDAO launches, NewGovToken holders will be able to activate their NewGovToken to receive SPK Rewards, and activators will receive 15% of all SPK Token Rewards.
SuperRare proposes Rare, an L2 using the OP Stack, and RARE as the network's native token.
Pancakeswap releases Q3 milestones and upcoming updates, including V4 and a dual trading rewards program.
ApeCoin is launching the Ape Chain testnet Curtis on July 16.
Polyhedra introduced ZKJ Chain, a new Layer-1 blockchain for joint computing enabled by zero-knowledge.
MakerDAO announced an open competition to invest $1 billion in tokenized U.S. Treasury offerings. RWA issuers including BlackRockβs BUIDL, Superstate, and Ondo Finance, are preparing to participate in MakerDAOβs initiative.
Radiant announces an upcoming launch on Base L2 in July.
Airdrops πͺ
Ether.fi Season 2 airdrop claim and ETHFI staking are now available on Ethereum and Arbitrum. Users can claim at claim. ether.fi.
Sanctum airdrop claim went live on July 18, with 10% of CLOUD tokens being distributed. The Alpha Vault is also live for deposits.
Avail, an infrastructure project built by the former cofounder of Polygon, launches the Avail Foundation to support research, provide grants, and foster education to grow the Avail ecosystem.
Liquidswap is launching its LSD token on July 30, with 15% of the total supply allocated to airdrops and incentives. Airdrop will consider trading, adding liquidity, holding $DooDoo & RE 0.00%β TURD, owning Pontem NFTs & other factors. The snapshot of the first airdrop has already been taken.
Polynomial announces L2 chain and Retro Points to its core believers, DeFi users, ecosystem partners, and NFT communities. Retro Points checker is now live.
Infinex has airdropped 1M $PYTH to 2,023 holders with the 'Early Craterunner' badge to celebrate the integration with Pyth Network.
Parcl announces that Schedule 1 vesting claims for the Perpetual Points Program (PPP) Season 1 are active. Users can claim tokens via the dApp's Points section and can stake to earn an S2 boost and gov/dev benefits.
Farms π§π»βπΎ
Add your GHO on Spectra Finance to earn ~27.24% APR from AAVE and Merit Program
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