Today in DeFi - EigenLayer Launches Token Support, Morpho DAO Token Discussion, $ORDER is Live for Claiming, Maximize Your wrsETH Yields, and more..
Launches π
EigenLayer has launched permissionless token support on the mainnet, allowing any ERC-20 token to be used for restaking. This expands cryptoeconomic security and enables AVSs to customize security profiles and utilize native tokens for rewards and security functions. A user interface for restakers will be added later in Q3.
Bubbly Finance is now live on the mainnet, offering pre-market trading with ultra-low fees of 1.5% and instant profit and loss (PnL) calculations.
ALLiN BETS has launched its Testnet Phase 1 on Dymension, limited to the first 200 players. Phase 2, starting on September 2, 2024, will expand the player cap.
Huma Finance, the first PayFi network, has launched on the Scroll testnet. The mainnet launch is scheduled for this Thursday.
Berally has launched its private testnet. Participants need at least one Beracid in their wallet to join. The project invites users to test the product, provide feedback, and engage with partners.
End of summer sale! π
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Updates π°
Morpho DAO is inviting the community to discuss the potential transferability of the MORPHO token, which is currently non-transferable, to broaden ownership and governance. The proposal seeks input on whether it is the right time to enable transferability and what milestones should be met before doing so.
Parcl has updated its security following a DNS attack on August 19. The attack, which briefly redirected website traffic, did not compromise user funds or the Parcl V3 protocol. The dApp resumed operations on August 21 with enhanced security measures.
Upcoming β³
Fractal Bitcoin has announced that the Fractal Mainnet will officially launch on September 9, 2024. The launch will include new features such as Fractal tokenomics, BRC-20 support, PizzaSwap testing, and bridges, along with additional wallets, protocols, and apps.
Soneium, introduced by Sony Block Solutions Labs as a public Ethereum Layer 2 blockchain, is set to release on August 28. The platform offers a link to sign up within the next 24 hours.
Maple Finance will launch the SYRUP token in Q4. MIP-010 proposes converting 1 MPL into 100 SYRUP and activating staking to support the SYRUP ecosystem and earn additional rewards. Voting on this proposal begins on September 2.
Airdrops πͺ
Orderly Network announced that $ORDER staking and claims are now live. Users can claim their airdrop on the Ethereum network, stake $ORDER tokens, and participate in trading and market-making rewards.
Zeta Markets has announced the distribution of Epoch 1 trading rewards from the 2 million $ZEX pool. Epoch 2 is now live, with another 2 million $ZEX up for grabs, running until September 19.
ACI has announced the start of βEndless Summer,β which include +100k USDC per month in incentives to Aave users on Base and 13k AVAX per week for users on Avalanche.
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Maximize your wrsETH Yields
Introduction
KelpDAO is a liquid restaking protocol, which partnered with zkSync Era to offer innovative farming opportunities for ETH holders. In this guide, we'll delve into the top three liquidity pools on zkSync Era and provide a step-by-step breakdown of how to maximize your returns.
Benefits
βΒ Highest APR for supplying wrsETH and ETH liquidity
βΒ Farm multiple points (Kelpmiles, Eigenlayer points, Zyfi points)
Understanding KelpDAO, wrsETH and zkSync Era
KelpDAO: A liquid staking and restaking protocol that provides yield-bearing wrapped ETH, unlocking liquidity for staked and restaked ETH
wrsETH: A wrapped version of restaked ETH by KelpDAO, whose price is almost pegged to $ETH but with a 3% yield from staking and restaking
zkSync Era is a high-performance Layer 2 scaling solution built on Ethereum. It uses zero-knowledge (ZK) proofs to enable faster, cheaper, and more scalable transactions.
Analyzing the Top wrsETH Farming Pools
We've evaluated three of the most popular wrsETH pools on zkSync Era based on TVL, APR, and points earned:
β Β Security: wrsETH has audited by Code4rena and SigmaPrime
Why KoiSwap? While all three platforms offer the same Kelpmiles and Eigenlayer points, KoiSwap's higher APR and substantial TVL make it the best choice for maximizing your returns.
β Β Security: Koiswap has audited by Code4rena, Certora, Solo and Peckshield
Step by step guide for wrsETH Farming on KoiSwap
Determining Your ETH Allocation for wrsETH Farming (Lets say 1ETH)
Bridge Your ETH (Optional): If your ETH is on another network, use a bridge aggregator like Bungee to transfer ETH or other tokens to zkSync Era. (Bungee hasn't launched a token yet, so there might be an opportunity for future airdrops π)
Calculate the the appropriate amount of wrsETH based on your ETH allocation:
Calculation Methods:
Using KOIswap UI: For precise calculations, visit the KOIswap wrsETH/ETH pool page and input your desired ETH amount. The platform will automatically calculate the equivalent wrsETH quantity.
Simplified Estimation: If you prefer a quick estimate, multiply your total ETH by 0.4. This provides a rough approximation of the wrsETH you'll need.
Acquire wrsETH based on your calculated required amount
Provide Liquidity:
Enter KOiswap wrsETH/ETH page
Approve Tokens: Approve both wrsETH and ETH for spending on KoiSwap.
Add Liquidity: Enter the wrsETH/ETH pool and click "Max" to provide all your available wrsETH. Confirm the transaction.
Want to ape in instantly? We've got you covered. Here's a one-click guide to get you started.
One-Click Ape In with Kelp Gain
To complete this action, you must be on the Ethereum mainnet β> Higher gas cost
Benefits
βΒ One-click to complete the ETH deployment
βΒ Automatically farm 6 different airdrop points in 1 time
Quick Guide
Visit Kelp Gain
Connect your wallet to the Ethereum mainnet
Choose either ETH or rsETH and enter the amount you want to deposit
Click "Restake Now" and approve the transaction
(Optional) To directly purchase the six points: Visit the Pendle agETH YT pool to buy YT agETH
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Disclaimer: Projects or tokens mentioned in this newsletter are often experimental or unaudited. Do your own diligence before using or buying anything mentioned.