Last Week in DeFi - Yearn veYFI Live, Notional v3 Public Soon, 1inch Considers Ladder Buying ETH, AAVE AURA Token Swap, and More...

Recap: Week of Oct 16th

Product Launches 🚀

• Aave Token Swaps
  Aave now allows traders to swap tokens directly on the website.

• Myso V2 Live
  Lending protocol Myso launches V2 on Ethereum. V2 enables liquidation-free borrowing, more asset supports, customizable loan terms, and leverage

• Rysk Credit Spreads
  Rysk launches Atomic Credit Spreads, an options strategy involving selling and buying options contracts with 10x capital efficiency.

• Yearn veYFI Live
  Yearn launches veYFI with increased rewards and yields to veYFI holders and Vault depositors. Users can stake YFI to get veYFI, and stake vault tokens for YFI rewards which can be redeemed for discounted YFI (dYFI).

• BracketX Passage on Testnet
  Options DEX BracketX launches Passage on Arbitrum testnet along with a trading competition. Passage is a long/short volatility market for traders to take on short-term volatility positions without a directional bias.

• BnB Greenfield Mainnet Live
  BnB Greenfield launches mainnet. BNB Greenfield is a decentralized data storage network that offers access control, cross-chain programmability, and data monetization & exchange.

Project Updates 🚩

• Uniswap Interface Fee
  Uniswap will impose a 0.15% fee starting Tuesday on trades of ETH, USDC, WETH, USDT, DAI, WBTC, agEUR, GUSD, LUSD, EUROC, and XSGD.

• IndexCoop Works with eToro
  eToro partners with IndexCoop to launch Web3 Smart Portfolio.
  The portfolio – ‘Index-Coop’ – will cover four key sectors: Bitcoin, Ethereum, DeFi, and the Metaverse.

• Dydx V4 Testnet 4
  Dydx testnet has been reset and testnet 4 (the final testnet before mainnet) is now available for testing.

• Angle agEUR Staking on Arbitrum
  Angle launches on Arbitrum. Users can stake agEUR for stEUR and earn a 5.85% native yield in agEUR.

• Angle Euro On-Ramp
  Angle protocol partners with Unblock, enabling users to buy and sell agEUR (Euro-pegged stablecoin) with fiat using bank transfers.

• Minpay on Celo
  Minipay, a self-custodial dollar stablecoin wallet built by Opera and live on Celo, is now available to Opera Mini users in Nigeria.

• Rabby Desktop Live
  Rabby Wallet launches a desktop client, offering a dedicated experience for users with features from Rabby.

• Symbiosis Supports Aave
  Cross-chain lending protocol Symbiosis deployed zaps for Aave on five networks including Base L2.

• Dopex to Sunset Option Scalps
  For the transition to v2, Dopex will sunset Options Scalps on Oct 29

Governance Highlights 📜

• Proposal: Ladder Buy ETH via 1inch
  1inch community proposes a ladder buy to purchase ETH using limit orders with specific price levels and order sizes ($800, $1000, $1200, $1400, each with a fixed order size of 250K USDC), leveraging the 1inch API v5 (Pathfinder) and the 1inch limit order protocol.

• Proposal: Lido on zkSync
  Matter Labs proposes the deployment of wstETH (Wrapped staked ETH) to zkSync, in order to formalize the ownership and control of the wstETH bridge on zkSync by the Lido DAO.

• Proposal: AAVE AURA Exchange
  Aura community proposes to collaborate with Aave with a token exchange. The deal is to swap 238,544 AURA (~$200,000) for 2,965.35 AAVE.

  Aura will then convert the AAVE into stkAAVE and delegate any voting power to Karpatkey.

• Proposal: Assisting DNS Hack Victims
  Balancer community proposes to compensate users impacted by the DNS hack by refunding 75% of their losses following BIP 443.

• Approved: Further Increase GHO Borrow Rate
  Aave governance approved the proposal to increase the GHO borrow rate by 50 basis points (bps), raising it from 2.5% to 3%.

• Sunsetting Lido Solana & Lido Polygon
  Lido governance approved the sunsetting of Lido Solana and the process will begin shortly. Lido community also considered sunsetting Lido on Polygon, avoiding assuming risks from smaller pockets of TVL.

Regulations 🏛️

• Bitcoin Spot ETFs in Review
  Grayscale filed a new registration statement with the SEC for its GBTC conversion application.
  Blackrock filed an updated prospectus which is likely their response to SEC comments. All good signs that issuers are in talks with the SEC.

Hacks/Issues 👾

• LBRY Winding Down
  Decentralized publishing platform LBRY is shutting down as the company has debts to the SEC, its legal team, and a private debtor that it cannot pay.

• Coins.ph Exploit
  Philipines-based exchange Coins.ph lost 12.2M XRP in a possible exploit. The hacker appears to have sent XRP tokens through OKX, WhiteBIT, and two non-custodial exchanges, among other destinations. 

• Polkadot Layoffs
  Polkadot development company Parity Technologies announced it would lay off most of its employees; the Web3 Foundation may also lay off about 40% of employees.

• Fantom Foundation Wallet Exploit
  Fantom Foundation wallets have been drained and lost at least 7M. Core dev Andrew Cronje claims, "All foundation funds are secured. A fantom employee, however, was targeted in an attack and their personal funds were stolen”.

Upcoming ⏳

• Notional V3 Public Launch
  Notional governance is running a series of votes (NIP 22-27) for the public launch of v3 on Arbitrum (v3 is currently in closed Beta)

• Neutrality Upgrade
  Neutron will release the Neutrality upgrade, which will integrate a hybrid orderbook model and a block SDK, empowering devs to build efficient markets.

• Chainlink Staking v0.2
  Chainlink will launch staking v0.2 in a three-phase sequence. The upgrade will introduce a new unbonding mechanism, stake slashing, a modular architecture, and new reward sources.

• Manta zkEVM Transition
  Manta L2 will transit into a zkEVM using Polygon's tech (originally using OP stack).

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• Liquidation-free Loans

• Volatility Trading Made Easy

• Airdrop on L2 Testnet

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