Today in DeFi - SEC Approves ETH ETFs, Usaul Introduces USD0, Stepn Announces Stepn Go, Farm Airdrops by Depositing $ETH, and more...

Launches 🚀

• Usual, a stablecoin issuance protocol, launched its website for early access. Usaul introduced Liquid Deposit Token (LDT) and the first LDT USD0, a stablecoin backed by RWAs with a short maturity.

• Splice, a Pendle-forked yield trading protocol, is live on Mode L2. Splice has launched a few LRT yield markets, allowing users to earn yields & points, or buy discounted assets.

Updates 📰

• The SEC has approved 19b-4 forms for 8 spot ETH ETFs including BlackRock, Fidelity, Grayscale, etc. The SEC has also begun discussions around S-1 registration statements. S-1 needs to be effective before ETF trading can begin.

• Bancor enabled Overlapping Liquidity (Concentrated Liquidity 2.0) on Carbon AMM on Ethereum, Base, Fantom, Mantle, and soon on Sei V2. Overlapping Liquidity auto-compounds gains for LPs to increase capital efficiency by 80%.

• Myso Initial Open Offering (IOO) is live. Users can use USDT, USDC, and exclusive collateral tokens (mETH, rETH, wstETH, etc) to purchase $MYT.

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Issues 🚨

• ClayStack, a DVT-based restaking protocol, will sunset the protocol due to a lack of resources and product-market fit after three years of operations. The website is now withdrawal-only and after June 10th, all the withdrawals will be immediate without any waiting period.

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Upcoming ⏳

• Stepn introduced Stepn Go, a social lifestyle app that allows users to earn rewards by staying active and using digital Sneakers. $GMT holders can lock their $GMT to enter raffles to win one of the first 6,000 STEPN GO Sneakers.

• Zeta Markets released the whitepaper of Zeta X (ZX), a trading-focused DeFi L2 on Solana. Zeta’s $Z token will be the native gas & incentive token on ZX L2. ZX mainnet is expected to launch in Q1 2025.

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Airdrops 🪂

• Equation V3 is live, allowing users to trade perps with 0 trading fees + 150x leverage.

  • Equation’s Weekly Trading Competition & Profit Rate Mining are also live.

  • Traders ranking in the top 10 on the profit rate leaderboard will receive USDT prizes, and extra rewards for ranking in the top 3 (1st $2000, 2nd $1000, 3rd $500)

  • Today in DeFi is supported in part by Equation

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Farms 🧑🏻‍🌾

• Stake your GHO to earn ~40% APR from AAVE and Merit Program

  • Today in DeFi is supported in part by ACI

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Farm Airdrops by Depositing $ETH

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