Today in DeFi - Abstract Testnet Live, Base Introduces Onchain Content Network, Jupiter Launching Token Reduction Vote, Restake $MKR to Earn $NGT and Airdrop, and more...

Launches 🚀

• Abstract Testnet, is now live. Abstract Chain is powered by the ZK Stack and operates as an L2 on top of Ethereum Sepolia.

• Satoshi Protocol, the issuer of the $SAT stablecoin, launches on BOB Mainnet. Users can mint $SAT using wBTC, tBTC, or wETH on BOB.

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Issues 🚨

• Compound experienced a governance attack that led to a decline in its token price. The 'Golden Boys' have finally succeeded in passing a proposal to allocate $24 million in COMP tokens to their yield-bearing protocol, goldCOMP, after three failed attempts.
  The community is now rallying behind Proposal 290, which aims to impose stricter controls on governance actions, potentially curbing future attacks.

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Updates 📰

• Base L2 introduces the Onchain Content Network. By participating in the Onchain Content Network, builders can have their project's information included in the Onchain Registry, a decentralized database of onchain projects.

• Jupiter introduces Jupiter Spot, allowing users to integrate products into a seamless user interface, enabling them to swap or set DCA/VA or limit orders.

• GMX has approved changing its revenue distribution model from“Buyback ETH and Distribute ETH” to “Buyback GMX and Distribute GMX.”

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Upcoming ⏳

• Jupiter co-founder announces several key events for Jupiter coming this week, including a proposal to reduce the token supply on Wednesday.

• Drift Protocol plans to launch Prediction Markets on Solana.

• Ore, Solana’s blockchain mining project, releases notes for the V2 upgrade. Ore V2 will introduce a staking mechanism to structurally advantage miners who hold the token.

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Airdrops 🪂

• Liquidswap, an Aptos-based DEX from Pontem Network, will launch the LSD airdrop claim on July 30 at 8:00 UTC. The 1st airdrop is 5% of the total supply.

• Renzo’s Season 2 snapshot was taken on the 26th of July. It is recommended that users avoid moving their balances until the team finishes a data analysis.

• Zora, an L2 to bring Media on-chain. introduces Spark, a new measurement that represents 0.000001 ETH. Zora will be transitioning its mobile experience to Sparks native.

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Farms 🧑🏻‍🌾

• Stake your GHO to earn ~19.74% APR from AAVE and Merit Program

  • Today in DeFi is supported in part by ACI

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Restake $MKR to Earn $NGT and Airdrop