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DeFi📈
Robinhood Chain launched on mainnet — an AI-native Arbitrum L2 built for tokenized RWAs and DeFi, with 100ms block times, Chainlink, Uniswap, Morpho, and Lighter live at launch. Stock Tokens for 95+ equities are tradeable 24/7 (outside the US).
Gas fees are sponsored for the first 90 days, and Robinhood is running a 3% crypto deposit bonus until July 22.
Lighter announced it will burn all future LIT buybacks to permanently reduce supply, with the first burn coming in the weeks after Q2 ends. Staking yield is being set at a target of 6% annually, funded by ecosystem tokens rather than pre-TGE revenue going forward.
Derive is preparing v3 with plans to expand into RWA options across equities, metals, energy, and compute. The protocol recently printed its largest trade ever at $210M notional and runs buybacks funded by a third of revenue.’
Aave V3 deploys on Monad, expanding the lending protocol’s presence to a new high-performance blockchain.
Maple expands to Robinhood Chain with syrupUSDG and syrupUSDC now live, approved as collateral for Robinhood Earn’s first decentralized lending product.
Robinhood Earn launches to eligible US customers offering 7% APY on USDG lending through self-custody wallets. Morpho powers the onchain lending product, bringing yield generation to Robinhood’s retail user base.
Aegis launches fixed-rate BTC borrowing built with Babylon Labs and Aave V4, allowing Bitcoin holders to borrow stablecoins against locked BTC in Babylon Trustless Vaults.
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Stablecoins/RWA🪙
Open Standard launched Open USD, a new stablecoin backed by 140+ companies including Visa, Stripe, Mastercard, BlackRock, Google, Coinbase, and Shopify. Unlike existing stablecoins, it charges no minting or redemption fees, passes reserve yield back to partners, and is governed collectively by its partners rather than a single issuer — launching later this year.
Issues⚠️
Hinkal Protocol was exploited for ~$820K, with attackers routing funds through Tornado Cash and bridging to Bitcoin via Thorchain. Affected USDC contracts on Ethereum have been frozen while other chains remain operational — investigation is ongoing.
AaveChan, one of Aave’s most influential delegate platforms, is closing after three years. During its tenure, Marc Zeller’s team turned a 35M annual protocol deficit into 150M/year in revenue and helped drive a 9x on AAVE. Zeller teased a new project ahead.
A custom ERC-4626 Uniswap V3 yield vault was exploited for ~34 WETH (~$53K) across Base and Arbitrum after an attacker exploited a double-payment bug in the redeem function — flash-loaning capital to seize nearly all vault shares, then draining the vault’s full LP position.
Magic Eden and its founders are facing a class action lawsuit alleging $ME token holders were misled about promised features — including multi-chain support, governance voting, revenue-sharing, and staking rewards — many of which were delayed, altered, or abandoned, including the pivot to a Solana-only focus in February 2026. The suit relies on New York consumer protection law rather than securities claims, seeking damages and restitution on behalf of nationwide token purchasers.
Criticism is mounting against the ENS Labs treasury proposal, with community members alleging the DAO’s funds have historically been allocated disproportionately to ENS Labs over other contributors. This adds to earlier scrutiny over the proposal to dissolve the DAO and transfer its ~$500M treasury control to ENS Foundation.
Edel Finance confirmed the exploit — an attacker manipulated the wGOOGLx/GOOGLx exchange rate to inflate collateral value 78x, borrowing against it to create ~$403K in bad debt. V1 contracts are paused, the team will absorb all losses and restore depositor balances 1:1, and V2 is being deployed with a redesigned oracle to prevent this class of attack.
Prediction Markets🔮
World launched as Solana’s native fully onchain prediction market, available directly in Phantom wallet.
Hfun Labs launched bet.hypurr.fun, an alternative frontend for Hyperliquid prediction markets designed to be faster and more intuitive than the native interface.
Perps DEX📉📈
dYdX Labs rebranded and launched Arcus on Robinhood Chain, offering 24/7 trading on 95 stock tokens with 0% fees and institutional liquidity. Perpetuals are launching in July with stocks-as-collateral and pre-IPO access on the roadmap. Robinhood Crypto made a strategic investment in the project.
Arcus perps is not live in beta — early waitlist access is determined by onchain volume and referrals.
Lighter launched a dedicated instance on Robinhood Chain, powering native perps and Stock Token trading directly in Robinhood Wallet using USDG as the quote asset.
News🗞️
Vitalik published an updated Ethereum strawmap outlining “Lean Ethereum” — a 3-4 year overhaul replacing nearly every major protocol component, including recursive STARKs for verification, quantum-safe primitives, simplified finality, privacy as a first-class goal, and new scalable state types that could cut fees 10x+ for most apps without requiring rewrites.
Securitize, the largest tokenization platform with $4B+ in assets under management, backed by BlackRock and Morgan Stanley, is listed on the NYSE under ticker SECZ via SPAC, becoming a public company.
Theo invested $20M into Fidelity International’s tokenized USD liquidity fund (FILQ), the first crypto-native platform to access the fund.
Strategy announced a new framework authorizing up to $1.25B in Bitcoin sales alongside $2B in stock repurchase programs for common shares and digital credit securities. The plan also raises STRC’s dividend to 12% and expands the USD reserve to $3.80B for dividend coverage.
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USDT Vault for 13% APR on New Protocol
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