Last Week's Launches & Updates - Ondo Acquired Strangelove Labs, Project X Launches On HyperEVM, Jupiter Launched JLP Loans, and many more...
Launches 🚀
Project X has officially launched, introducing a new HyperEVM DEX as the first step in a multi-phase rollout. The protocol aims to unify trading across all EVM chains and HyperCore, with future plans to add an EVM aggregator and further undisclosed features. Users can earn points by trading, providing liquidity, or inviting friends—1 million points are distributed daily.
The platform is self-funded with no VC backing.
Ramses has expanded to HyperEVM, bringing its x(3,3) mechanics from Ramses V3—including liquid, non-vesting emissions and RAM-to-xRAM conversions that reduce FDV. The launch features built-in JIT defense at the contract level, an RXP points system for early user rewards, and r33 for liquid xRAM staking.
Emissions are live from day one, and all RAM converted to xRAM is burned.
Nerite has launched on Arbitrum with $USND, a fully backed and overcollateralized stablecoin streamable via Superfluid. Users can mint USND by borrowing against assets like ETH, wstETH, tBTC, and more. Liquidity is live on Bunni and Camelot, with integrations including Teller (fixed loans), Gearbox (rehypothecation), and upcoming position managers.
The protocol uses API3 oracles, Octane for CI-based security scanning, and Aragon for governance.
NERI(not live yet) will serve as the future governance token.
Cashmere Labs has launched its public devnet, enabling instant, one-click, zero-slippage cross-chain transfers across Ethereum Sepolia, Avalanche Fuji, Solana Devnet, Aptos, and Sui testnets.
Users can set up their .csm domain, use testnet faucets, lock NFTs for multipliers, and begin transferring without needing to complete quests.
The team plans to launch the mainnet app shortly after devnet concludes, with audits underway during this phase.
Boundless has launched its Mainnet Beta on Base and introduced The Signal, a ZK consensus client enabling any chain to verify Ethereum state. Backed by Base, Wormhole, EigenLayer, and others, The Signal aims to bring universal ZK interoperability across chains.
Kinetiq has launched on Hyperliquid mainnet with kHYPE, a liquid staking token for HYPE. Users can stake HYPE for kHYPE instantly, earn staking rewards, and use it across platforms like Veda, Felix, and Curve. kPoints are live, with weekly snapshots and rewards. Audits by Spearbit and others have been published.
Plasma launched its testnet, introducing a stablecoin-focused Layer 1 designed for high-throughput global payments. Key features include PlasmaBFT consensus, EVM compatibility, zero-fee USD₮ transfers, support for custom gas tokens, and a native Bitcoin bridge. Developers can access documentation and begin building today.
ReyaChain has launched as the first trading-focused based rollup, aiming to unify DeFi, TradFi, and CeFi into a decentralized capital market infrastructure. The chain features embedded perp DEXs, deep liquidity, gasless MEV-free trades, and a CLOB with millisecond execution. Users can trade anything with anything as collateral, positioning Reya as the decentralized Nasdaq on Ethereum.
ReyaChain Points (RCP) also reward traders, stakers, and ecosystem contributors.
Catex has launched on Unichain as a MetaLayer of Uniswap v4, combining ve(3,3) governance, hook innovation, and automated liquidity management. The platform enables LPs to earn, hook developers to deploy strategies, and aligns incentives within a unified framework.
Curve has launched on TON via a Telegram mini app, offering users a mobile-first DeFi experience directly through @CurveAppBot. Users can now swap assets, provide liquidity, and earn yield with minimal slippage—all within the Telegram interface.
Euler is now live on Telegram via TacBuild, enabling lending and borrowing directly through @EulerFinanceBot with $300K TAC and $100K rEUL incentives. Supported assets include TON, WETH, cbBTC, tsTON, LBTC, wstETH, and USDT.
Jupiter launched JLP Loans, allowing users to borrow USDC against JLP while still earning yield. The overcollateralized loans (up to 86% LTV) aim to unlock idle USDC in the pool and create a new yield stream for LPs, starting with tight risk controls and USDC-only borrowing.
The U.S. House passed the GENIUS Act, a landmark bill establishing a regulatory framework for stablecoins, sending it to President Trump for signature. Backed by bipartisan support (308–122), the bill would expand CFTC oversight and offer consumer protections for USD-pegged digital assets. It marks a key win for the crypto industry during Trump’s “Crypto Week” initiative, as lawmakers aim to make the U.S. a global crypto leader.
Updates 📰
Starknet has integrated with Hyperlane, enabling connectivity to over 140 chains. The upgrade allows builders to deploy custom bridges across ecosystems, with first use cases expected in the coming weeks.
Avant has launched avUSD Max, introducing $avUSDx as the junior tranche of $savUSD. Built for higher returns, $avUSDx offers boosted yield by taking on more risk, backed by delta-neutral DeFi strategies and a reserve fund structure. Users can convert $savUSD into $avUSDx via the Boost option in the app.
Curve has launched savings crvUSD on XDC Network, deploying it in under 24 hours using its new crosschain infrastructure. Users can now access Curve’s stablecoin yield opportunities on XDC, expanding crvUSD’s reach beyond Ethereum and other major chains.
Ondo Finance has acquired Strangelove Labs to accelerate the buildout of its full-stack tokenized asset platform. Strangelove, known for contributing to key blockchain infrastructure and interoperability tools, will enhance Ondo’s engineering capabilities across RWA issuance, chain deployments, and protocol design.
Ondo Finance will launch tokenized stocks and ETFs on Bitget Wallet, giving 80M+ users self-custody access to traditional assets onchain. The rollout begins this summer, expanding market access through tokenization.
Origin Protocol will begin its OGN Buyback Blitz on July 21, doubling buybacks to ~$200K/week through August 1. All protocol revenue and additional DAO assets will be used for buys, with stakers earning over 30% APY. A new dashboard will launch to track buyback metrics.
xStocks tokenized stocks are now live on Kamino, Solana’s largest money market. Users can supply assets like SPYx and MSTRx as collateral or swap them on Solana. Integration uses Chainlink Data Streams for accurate pricing and supports cross-chain transfers.
YO has launched Smart Lending vaults with Fluid for yoUSD, yoETH, and yoBTC. Users can lend assets into range-based AMMs to earn interest, protocol rewards, and 4x YO points. Pairs include USDC, WETH, and cbBTC.
USDT0 has launched on Rootstock, bringing unified USDT liquidity to the Bitcoin sidechain. Rootstock enables EVM-compatible smart contracts secured by Bitcoin, with 25-second block times and low rBTC gas fees. USDT0 eliminates fragmented stablecoin liquidity, offering native 1:1-backed USDT on Rootstock for tighter spreads, improved capital efficiency, and simplified contract management.
Aave has integrated swap adapters on Sonic Labs, enabling users to seamlessly repay borrow positions, swap collateral, borrow assets, or withdraw and swap—all within the Sonic-powered Aave market.
Neutrl has added USDe to its stablecoin treasury in partnership with Ethena Labs, aiming to enhance capital efficiency and risk-managed yield generation. The protocol, which tokenizes access to institutional-grade strategies like OTC arbitrage and basis trading, views USDe as a productive, DeFi-native reserve asset. Unlike incentives-driven moves, this shift reflects Neutrl’s long-term strategy to build a composable, yield-generating synthetic dollar portfolio.
The treasury now includes USDC, USDT, and USDe, with over $42 million in deposits.
GMX has fully recovered ~$40M in GLP funds on Arbitrum following a July 9 exploit via a re-entrancy vulnerability in GMX V1. The attacker returned the funds and received a $5M bug bounty; the assets are now secured by the GMX Treasury. GLP minting/redeeming on Arbitrum is paused, while a DAO-approved distribution plan is being developed based on pre- and post-incident AUM snapshots.
GMX V2 remains unaffected, and long-term improvements to security and reimbursement structure are underway.
infiniFi has launched a USDC vault on Morpho, curated by Steakhouse Financial, allowing users to borrow against iUSD, PT-iUSD, siUSD, and 1-week locked iUSD. The vault enables efficient looping strategies, offering higher returns than PTs alone by removing rollover risks and maximizing yield spreads.
Locked-iUSD supports indefinite loops with predictable structure, while USDC lenders earn boosted infiniFi Points and competitive rates.
Lido V3 introduces stVaults, modular smart contracts enabling advanced stakers to create isolated, customizable staking setups with optional stETH liquidity. stVaults allow control over node operators, MEV providers, fee structures, and integrations with systems like Obol or SSV. This offers flexible, non-custodial staking tailored for institutions and solo validators.
stVaults are live on the Holesky testnet, with mainnet launch set for October 2025.
Kamino has updated incentives on its Maple market, adding 12,000 $USDS per month for USDS lenders in collaboration with Sky. USDC and USDG rewards have also been rebalanced to better align with current market demand.
These adjustments aim to enhance capital efficiency and optimize returns for stablecoin lenders.
Felix has integrated kHYPE, the first LST launched via CoreWriter by Kinetiq, now available on Felix Vanilla. Users can leverage-loop kHYPE for enhanced staking yield and kPoints, or borrow stablecoins against it for leverage, trading, and farming.
Over $290M of kHYPE was minted on day one, with CDP support coming once a price oracle is live.
Market caps will be adjusted based on risk team guidance.
Hamilton Lane expanded its $SCOPE tokenized credit fund to Optimism and Ethereum mainnet, with tokenization by Securitize and interoperability via Wormhole. The move enhances cross-chain liquidity and DeFi integration for institutional allocators.
xStocks are now live as collateral on Kamino, enabling users to borrow USDC and USDG against tokenized bluechip stocks. This allows access to stablecoin liquidity while holding equity exposure and earning yield.
PayPal has expanded its stablecoin PYUSD to Arbitrum, enabling faster, cheaper transactions on Layer 2. The move strengthens Arbitrum’s role as a scalable infrastructure for mainstream fintech integration.
Kamino launched the zBTC Market on Kamino Lend V2, letting users borrow USDC or FDUSD against zBTC with $20K+ in monthly incentives. zBTC, issued by Zeus, brings BTC to Solana with 1:1 backing and proof-of-reserves, enabling BTC-backed credit and yield farming on Solana.
Bungee is now live on Katana, enabling gasless, one-click swaps to and from the DeFi-focused chain. Users can seamlessly access Katana’s real yield ecosystem from 25+ chains via Bungee’s streamlined cross-chain infrastructure.
Kai Finance rolled new updates, launching new vaults for WAL, LBTC, wBTC, and LPs on Cetus and Bluefin. The platform now features real-time LP analytics (APR, PnL, divergence), a price range indicator, and a faster UI to improve user experience and capital efficiency on Sui.
PancakeSwap added ZKsync and Linea to its Crosschain Swap feature, enabling seamless trading across six chains including BNB Chain, Arbitrum, Base, and Ethereum—all within a single interface.
Issues ⚠️
Kinto confirmed its $K token on Arbitrum was exploited by an advanced proxy upgrade attack, which allowed the hacker to mint fake tokens and drain liquidity. The team believes a state-level actor was involved, bypassing detection even on Arbiscan. While $1.55M was lost, all other assets on the Kinto network remain secure.
UPDATE : Kinto has published a full post-mortem after suffering a $1.55M exploit caused by a hidden proxy vulnerability in its $K token on Arbitrum. The hacker minted unlimited $K, drained Uniswap and Morpho liquidity, and crashed the token price by over 95%. The core L2 infrastructure, wallet, and user funds on Kinto remain safe.
The team plans to launch a proxy-less $K v2, snapshot balances from block 356170028, reopen trading at the pre-hack price, and restore liquidity. Recovery fundraising is underway, and Morpho suppliers are expected to recoup at least 85%.
Safe has reported ongoing UI issues due to indexing service disruptions, affecting wallet interfaces across certain networks. The team confirms it's a performance—not security—issue, and is actively reindexing systems with a 24–48 hour resolution window. Users can track updates via Safe’s status page.
Arcadia Finance was exploited for ~$2.5M due to a vulnerability involving its Rebalancer. The team urges users to revoke asset manager permissions. The attacker swapped funds for ~840 ETH and bridged them from Base to Ethereum.
Phantom experienced a temporary outage in its swapper service, which has now been resolved. Trending Tokens in Explore remain down but are expected to return shortly.
Katana reported delays in native bridge withdrawals to Ethereum, currently taking around 12 hours due to prover congestion. Deposits and third-party bridge withdrawals remain unaffected. Developers are addressing the issue, and user funds are safe.
BigONE suffered a security breach involving unauthorized access to its hot wallet, with losses exceeding $27M due to a supply chain attack. The exchange confirmed all user assets are safe and pledged to cover the losses in full. Trading and deposits will resume shortly, with withdrawals re-enabled after security upgrades. BitOK is assisting in tracing stolen funds and analyzing the incident.
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