Today in DeFi - Multichain to Do Cross-chain, Solidly Launching on Optimism, and More...

Multichain to Do Cross-chain

Multichain (Previously Anyswap) @MultichainOrg

1/Time to reveal the answer for the puzzle ... It's 'anyCALL' Following v1 DEX, we have launched v2 Bridge and V3 Router with Co-Mint feature! Now we present anyCALL, a generic cross-chain message protocol, and the first-ever solution for cross-chain Dapp!

Multichain revealed its upcoming v4 that will enable cross-chain dApps rather than just asset bridging.

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veDAO Launching Solidly on Optimism

veDAO @_veDAO_

veDAO launched to give ordinary folks an opportunity to own a portion of Solidly, a revolutionary AMM from Andre Cronje on Fantom. We believe it's time to overhaul Solidly and bring its next-generation capabilities to the masses on the Ethereum L2 Optimism. 🧵👇

Solidly war winner veDAO plans to launch an upgraded version of Solidly AMM on Optimism. Improvements include corrected emission, better initial distribution, fixed voting + bribes, etc.

Terra Avalanche Treasury Swap

Terra (UST) 🌍 Powered by LUNA 🌕 @terra_money

1/ Thrilled to reveal the blossoming collaboration between @avalancheavax and Terra will also be further solidified with a $100 million Treasury Swap between TFL and the Avalanche Foundation of $LUNA <> $AVAX to strategically align ecosystem incentives!

bloomberg.comBloomberg - Are you a robot?

Terra announced it will purchase $100m worth of AVAX as another UST reserve asset besides BTC. Terra CEO also tweeted about making UST mintable on Avalanche using AVAX.

Do Kwon 🌕 @stablekwon

5/ First, the $AVAX acquired by @LFG_org will be used to provision a large reserve against $UST using the automated mint mechanism identical to one designed for $BTC. = $UST will be able to be minted and redeemed against $AVAX, on Avalanche. $UST becomes Avax native

Synapse Supports UST

Synapse Protocol @SynapseProtocol

1/ We are excited to share that we’ve launched support for UST, the largest and most widely used decentralized stablecoin. This marks our first non-EVM chain, and we’re looking forward to interconnecting Terra in their multi-chain expansion plans.

synapseprotocol.medium.comUST is live on SynapseThe largest decentralized stablecoin, now available on the most widely used bridge

Cross-chain protocol Synapse enables UST transfers between 15 supported chains.

Starstream/Agora Exploit

Agora DeFi @AgoraDefi

Update on the @starstreamfin exploit and STARS being used as collateral on Agora to borrow assets. 🧵 - Starstream's new distributor treasury had a bug that allowed the hacker to drain treasury funds along with their blackhole vault.

Attacker(s) exploited the price of STARS, tokens of Starstream (yield aggregator), and used STARS as collateral to borrow assets worth $8.2m away from Agora, a lending protocol on Metis.

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Price NFTs… and More

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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.