Today in DeFi - V3 Frax Bonds Live, Public Goods Network Winding Down, Trade Joe Phone, Efficiently Batch Swap Tokens, and more...

Launches 🚀

• Frax Finance launches Frax Bonds (FXBs) on v3 protocol. FXBs are debt tokens denominated in FRAX stablecoins that are repaid on-chain and thus a way to buy "future FRAX stablecoins at a particular timestamp for a discount today."

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Updates 📰

• In addition to liquid staking, MetaMask Portfolio now offers Validator Staking (staking-as-a-setvice). Users can simply stake 32 ETH to be validators while MetaMask takes care of the work like managing the node operation, client updates, and runtime stability.

• Built on Uniswap’s v3 pools, Wormhole now supports native ETH/wstETH transfers across 7 EVM chains.

Issues 🚨

• Public Goods Network (PGN), a funding L2 by Gitcoin, will wind down over the next 6 months due to challenges in generating significant funding for public goods. The network shutdown is tentatively planned for June 2024.

Upcoming ⏳

• Trader Joe hints at a mobile phone launch.

• UMA is releasing a product that reclaims value from MEV for lending protocols.

• Conflux is launching an EVM-compatible Bitcoin Layer 2 where BTC will be the native currency for gas fee calculations. Testnet launch is expected to be Feb/March and mainnet in May.

Farms 🧑🏻‍🌾

• Stella offers good stable lending APRs with ARB incentives.

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