Today in DeFi - Frax sFRAX Live, Tangible USDR Depegs, Mars V2 Live, Farming Airdrop on New EVM Chain, and more...

Frax sFRAX Live

Frax Finance launches sFRAX. Users are able to stake their FRAX and earn Tbill yield on it, similar to $DAI's DSR. Yield is at ~10%.

Tangible USDR Depegs

Tangible’s liquid $DAI from the $USDR treasury was redeemed and caused an accelerated drawdown in the market cap, leading to the USDR de-pegging.

The team will share a full post-mortem for the incident and “USDR will be deprecated once the redemption process is complete.”

Mars V2 Live

Mars v2 is live on Osmosis with the Rover Credit Accounts available. Rover works like subaccounts and enables spot trading, margin trading, leveraged LPing, and lending for users.

Mountain USDM Pool Live

Mountain protocol's USDM, the first regulated yield-bearing stablecoin, now has a crvUSD-USDM pool on Curve with a 5% APY.

Proposal: Lido SimpleDVT

Lido community proposes to approve the Simple DVT module, a new module that utilizes DVT on Ethereum via Obol Network and SSV Network implementations.

Trading Competition, Farming Airdrop on EVM Chain …