Today in DeFi - Friend.tech V2, MakerDAO NewStable and NewGovToken, Mode Season 2, >50% APR on Stables, and more...

Launches 🚀

• Friend.tech, launched V2 and its native token. FRIEND token airdrop went live on May 3rd, and the website enabled token swap and liquidity provision.

• Eddy Finance, a DEX aggregator on Mode L2, is live. Eddy enables token swaps for USDT, USDC, ETH, WBTC, and WETH. Eddy users can earn 2x Eddy Points, Mode Points, and exclusive Eddy NFT boosters.

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Updates 📰

• Reserve Protocol introduced KNOX Dollar, an RWA-backed, yield-bearing stablecoin that generates 10% APY for $KNOX holders. Users can now mint KNOX on Arbitrum.

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Upcoming ⏳

• MakerDAO introduced NewStable(NST) and NewGovToken(NGT). NST will be the upgraded version of DAI, and NGT will replace MKR with a denomination of 24,000 NGT per MKR.

• Velodrome, an OP-based DEX, will begin the rollout of Superchain Beta in the next few weeks, starting with the first deployment on Mode L2. The Beta will enable features such as self-contained gauges and AMMs, the ability for layers and protocols to incentivize LPs on their native chains, trading fee redistribution to LPs, etc.

• Osmosis, a Cosmos-based DeFi hub, is launching a Bitcoin layer 2. Osmosis is set to roll out “Alloyed Bitcoin”, a product consisting of a basket of variants of BTC from throughout the ecosystem.

• Puffer Finance, a liquid staking protocol built on EigenLayer, is launching its mainnet this Wednesday. Users can still provide liquidity to earn Puffer points + EigenLayer points alongside LP yields.

• Overload Labs introduced Overload, a restaking platform for ERC-20 tokens without slashing. Overload will launch on Base with a points system that rewards users based on contributions.

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Airdrops 🪂

• Mode L2 airdrop Season 1 has ended. Season 1 users can claim on May 7 upon the token launch. Season 2 starts on May 5th and runs until Sept. 6th, 2024. Season 2 will allocate 5% of the total supply with up to 1M in OP token incentives.

• Saga unveils the airdrop criteria and snapshot. The Saga Over 9000 airdrop will be conducted through a series of “Vaults”, and a snapshot will be taken of the community before each Vault is announced.

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Farms 🧑🏻‍🌾

• Stake your GHO to earn AAVE and participate in the Merit Program (for the last round, participants got ~90% APY)

  • Today in DeFi is supported in part by ACI

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>50% APR on Stables