New HyperEVM DEX Launch, TAC Summoning Rewards Claim Live, Arcadia Finance Exploited for 2.55M, Ecosystem Analysis: Hyperliquid, Solana, and Sui Leads Momentum
Launches π
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 friendsβ1 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 V3βincluding 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.
Aaveβs new Umbrella staking module is now live on DeFi Saver
Users can access yields like 7.44% on USDC, 9.65% on USDT, and 7.77% on GHO. Itβs a governance-free safety system that rewards you for staking while helping cover bad debt. Available now on Ethereum with a 20-day cooldown and 2-day withdrawal window.
Start staking today at DeFi Saver.
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Updates π°
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 Ondoβs 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, Solanaβs 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.
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Issues β οΈ
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.
Upcoming β³
Theo partners with Standard Charteredβs Libeara, Wellington Management, and FundBridge to launch thBILLβan institutional-grade onchain money market fund. Aimed at solving tokenized asset adoption hurdles, thBILL offers liquidity, leverage, and composability from day one.
Pike is relaunching with a full overhaul of its lending protocol after 15 months of development. The new design features modular lending markets, integrated StableSwap DEX via Tapio, dual oracles (Chainlink + Pyth), a 3-slope interest model, and role-based governance.
Security is prioritized with audits by MixBytes and Fuzzland, plus live monitoring.
Plasma will open its XPL public sale on July 17, offering 10% of its 10B supply. XPL secures the Plasma network and fuels validator rewards, starting at 5% inflation. Deposits and withdrawals are now locked. US buyers face a 12-month lock; non-US buyers get full unlock at mainnet beta.
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Ecosystem Analysis: Hyperliquid, Solana, and Sui Leads Momentum
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Airdrops πͺ
TACβs Summoning ends with $790M TVL across 26 partners. Phase 1 rewards (3.3% supply) now claimable via Merkl; Phase 2 (1.5%) vests until Aug 30. Vaults migrate to TAC and farm on Curve, Morpho, Euler. tacUSD/tacBTC/tacETH stay live on Ethereum as yield-bearing LSTs. $TAC holders can stake (8β20% APY) or LP on Curve, Carbon. Bridges live for TON, Ethereum, BSC.
Farms π§π»βπΎ
River launched new satUSD incentives via Hemi and Merkl, offering 100% APR on the hemiBTC-satUSD pool and 35% APR on USDC-satUSD.
IPOR launched a new Fusion Vault on Base using wstETH looping via Aave and Morpho, offering leveraged yield strategies with automated rebalancing and liquidation protection. Future integrations include Euler, Moonwell, and Fluid.
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