Today in DeFi - DeltaPrime Exploited for $6M, Sky Relaunches with Token Conversion, EigenLayer Season 2 Stakedrop Claims, WalletConnect Introduces Native Connect Token, and more..

Launches 🚀

• Sky, formerly known as Maker protocol, is set to launch today with new $SKY and $USDS tokens. MKR holders will be able to convert their tokens to $SKY at a ratio of 1:24,000, while DAI holders can convert to $USDS at a 1:1 ratio.

• Vertex Protocol, a decentralized exchange, has launched on Base. The platform offers spot and perpetual markets with unified on-chain liquidity for non-US users.

• Ethena Labs has introduced sENA, a liquid receipt token for staked ENA. This token aims to improve liquidity and transferability for use in various DeFi applications. sENA will include a 40x daily rewards multiplier in Season 3 and will be necessary for earning rewards in the future.

• Venus Protocol, a leading multichain decentralized money market, is now live on zkSync. This launch introduces lending markets for WETH, WBTC, USDT, and USDC.e, with additional markets planned by year-end.

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• DIA launches 'Lumina' – a brand-new trustless oracle network. Its modular, rollup-based design enables the verifiable sourcing and delivery of any data to any blockchain. Fully decentralized and permissionless.

  • Today in DeFi is supported in part by DIA

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Updates 📰

• TON Foundation is collaborating with Curve Finance to develop a stable-swap project on the TON blockchain. The project will utilize Curve's market-making model to potentially improve stablecoin trading and DeFi performance.

• Sui has formed a partnership with MoviePass, acquiring an equity stake and planning to integrate USDC for subscription payments. The collaboration seeks to explore decentralization in the film industry by offering new tools for producers and enabling fan participation in movie production.

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Issues 🚨

• DeltaPrime, a DeFi yield protocol, experienced a security breach on its Arbitrum deployment on September 15, resulting in a loss of $5.98 million due to a compromised private key. The attack impacted USDC, ARB, and BTCb pools. DeltaPrime has stated that the risk has been contained and its insurance pool will cover user losses. Following the incident, the total value locked (TVL) decreased by 40%.

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Upcoming ⏳

• WalletConnect is set to launch its native Connect Token (WCT) on Optimism's OP Mainnet, with a total of 185 million WCT allocated for an airdrop. Registration for the airdrop will start on September 24, and eligibility will be determined based on WalletConnect network usage. The airdrop will run until October 11, with tokens initially non-transferable.

• Sui will introduce native USDC and a Cross-Chain Transfer Protocol (CCTP), becoming the first Move-based blockchain to support native USDC. This development is expected to enhance cross-chain transactions and DeFi opportunities within its ecosystem.

• Avail has teamed up with Lens Protocol to integrate its data availability (DA) layer into Lens' forthcoming Layer 2 chain. This integration aims to improve scalability for on-chain social media. The new network, built with zkSync's ZK Stack, is scheduled to launch in Q4 2024.

• EigenLayer is launching Programmatic Incentives v1, a feature that will provide weekly rewards of newly-minted EIGEN tokens. Starting in October 2024, qualifying stakers and operators will receive rewards retroactively from August 15, 2024.

• Stacks.btc is concluding its "21 Days of Nakamoto" campaign with the launch of "The ₿est and the ₿rightest" initiative. This campaign will showcase partnerships with prominent Bitcoin-focused companies and promote sBTC, a Bitcoin-backed asset designed to enable smart contracts on Bitcoin. The initiative is set to launch in late October.

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Airdrops 🪂

• EigenLayer has begun Season 2 Stakedrop claims, providing rewards to stakers, operators, ecosystem partners, and community members for their contributions. Eligible participants can claim their EIGEN tokens from September 16, 2024, to March 16, 2025. A new programmatic incentives system with weekly emissions will be introduced soon to offer additional rewards to stakers and operators.

• tBTC can now be deposited on EigenLayer, marking it as the first incentivized BTC asset available for restaking. This integration allows Bitcoin holders to earn rewards, including $45k in incentives from Threshold DAO, while supporting the security of EigenLayer’s Actively Validated Services.

• Synnax Technologies has launched SYNQUEST on Telegram, where users can participate in trivia, earn points, and convert them into $SYNAI through future airdrops.

• Jumper Exchange has collaborated with SeiyansNFT to launch three quests featuring 27 NFTs as rewards. The event will take place from September 17 to September 24, giving participants the opportunity to win SeiyansNFT collectibles.

• Quai Network, a scalable and programmable Proof-of-Work blockchain, is set to launch its Golden Age Testnet on October 15th. The testnet will include a pool of 10 million Mainnet Quai tokens, which will be distributed based on participants' Testnet Quai holdings.

• Layer3, in partnership with Manta Network and powered by Calderax, is introducing the Metalayer with over $100K in incentives. Participation is exclusively available through Layer3.

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Farms 🧑🏻‍🌾

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