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TL;DR:
Pump.fun launched Hyperliquid-backed perps with up to 40x BTC and 25x ETH leverage, while Ripple introduced 24/7 institutional perps.
Pendle added GOOGLc and NVDAc pools with $20K USDC rewards each, as EQX Labs brings tokenized US stocks and ETFs to Hyperliquid.
Qubic halted its network after 1,404 wallets lost 2.94T QU. Ledger confirmed seed-stealing implants in resold devices, though reported $72–93M losses remain unconfirmed.
PancakeSwap proposed boosting v3 LP fee shares to 88% and cutting CAKE emissions 69%. Jupiter launched unaudited YOLO binary trading with up to 1,000x leverage.
StandX is shutting down, while Revert is winding down its Base Aerodrome vault; exposed users should withdraw. USD.AI claims open on Arbitrum Oct. 22 at 11 AM ET.
DeFi📈
PancakeSwap proposed “The Flip,” raising the LP share of swap fees to 88% on v3, an estimated increase from 66 - 68% on most pools, and daily CAKE emissions would drop from 22,500 to 7,000 (about 69%).
Lido launched direct ETH staking on Arbitrum, Base, and other L2S. Users stake in the Lido UI and receive wstETH from a dedicated liquidity pool, removing the need for manual bridging.
Derive finished its V3 migration, with custody staying on Ethereum and ZK proofs handling margin and settlement. The upgrade enables users to launch no-code vaults and borrow against ETH, WBTC, HYPE, and USDC.
It also opened a governance vote on expanding into US-regulated derivatives.
Orca and Loopscale merged into Formation, a new platform for raising and allocating capital for tokenized assets. $ORCA becomes the Formation token, and Loopscale won’t launch its own.
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Issues ⚠️
Ledger confirmed that criminals implanted seed-stealing hardware into genuine devices before resale. It says an organized syndicate infiltrated the supply chain for months. Reported losses run roughly $72-93M and are still unconfirmed.
Trezor trimmed its reseller list as a precaution, saying it has no evidence its own devices are compromised.
Qubic halted its network after an attacker drained 1,404 wallets of about 2.94T QU. Qubic says 87.1% of the stolen funds were frozen on-chain
Wind Downs ⌛
StandX, a perp DEX from a former Binance Futures head, is shutting down and scrapping its token launch. The exchange announced the closure.
→ Check any open positions or deposits and withdraw.Revert is winding down its Aerodrome lending vault on Base. New borrowing and LP deposits are disabled, and it's preparing a new Aero vault.
→ Recommended action: repay debt and withdraw.
Stablecoins/RWA🪙
Pendle added GOOGLc and NVDAc tokenized-stock pools. LPs earn swap fees, PENDLE incentives, and $20K of USDC rewards per pool.
USD.AI ended Season 2 and allocated 225M CHIP (2.25% of supply) to participants. Final allocations were set Oct 19, and claims open on Arbitrum Oct 22 at 11 AM ET with no lockup or vesting.
JPY DeFi launched JPYdf, a yen stablecoin you can mint permissionlessly against ETH, wstETH, or USDC. It also runs a Stability Pool that earns yield from two onchain sources.
EQX Labs launched EQX, tokenized US stocks and ETFs issued as HIP-1 tokens on Hyperliquid. The first 11 markets open soon for 24/7 spot trading, backed 1:1 by shares at DTC-connected custodians with no issuer fees.
Prediction Markets🔮
Jupiter launched YOLO binary trading offering up to 1,000x leverage on SOL, BTC, and ETH. Jupiter says it’s in beta and unaudited, and that traders face the house.
Perps DEX📉📈
Pump.fun launched Hyperliquid-backed perps with up to 40x on BTC and 25x on ETH. US and Ontario users are restricted.
Variational opened a points claim for traders with on-chain perps history. A second app, Pro, is coming next.
Ripple launched 24/7 perpetual futures for institutions, plus RWA perps on Ripple Prime.
Privacy🔓
Starknet is exploring a path to becoming an independent post-quantum L1, and opened a governance post with a non-binding poll for STRK holders.
Aptos claimed layers of confidentiality are live on mainnet, including Keyless Accounts and confidential amounts. Confidential $APT is available in Petra and is opt-in.
News🗞️
Strive offered $SATS, a 15% fixed-rate perpetual preferred with dividends every business day. It’s junior to SATA and is offered through an IPO available to select investors via Fidelity. Strive said it would file an 8-K on final warrant exercises and extra Bitcoin purchases.
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