Today in DeFi - Zircuit Fairdrop for EIGEN Holders & Stakers, Elixir Launches Mainnet Phase I, Time.Fun Migrating to Solana, Kwenta Integrates Synthetix V3: Introducing Gasless 1-Click, and More..
Launches π
Movement launches V2 testnet Porto. Movement is a community-first blockchain providing the highest possible TPS through Move, instant finality, native day-zero access to mass liquidity, and modular customizations. It will support Aptos Move, Sui Move, and also our embedded EVM interpreter MEVMβempowering both Sui, Aptos, and EVM users to use the L2.
Elixir mainnet phase 1 is live. Over this phase of mainnet, the network will be stability tested with preselected institutional validators. At public mainnet, anyone will be able to participate in running a validator and eligible users will receive ELX. Elixir will shortly introduce its genesis set of validators, as well as provide details about the upcoming foundation delegation program.
Genesis DIA Staking is Coming Soon!
DIA is gearing up for Lumina's mainnet launch in Q1 2025, bringing staking and slashing mechanisms to enhance the oracle networkβs resilience.
In anticipation, theyβre thrilled to unveil their Genesis $DIA staking program, offering early adopters up to 30% APY, ahead of the mainnet release.
Today in DeFi is supported in part by DIA
Updates π°
Time.Fun is migrating to Solana. Time.Fun is a NFT launchpad and trading market with the group chat feature that connects creators directly with protocol founders, investors, influencers, and different interest groups. The migration indicates the teamβs bullish take on Solana ecosystem with a larger audience base.
Covalent has integrated with Unichain, an OP Stack Layer 2 platform by Uniswap Labs, to provide developers with easy access to Unichainβs onchain data.
This collaboration allows for efficient building of DeFi applications by simplifying data queries, enabling real-time insights, and providing a suite of developer tools.
Today in DeFi is supported by Covalent
Moonshot, the memecoin launchpad, has expanded to Base. Moonshot enables permissionless memecoin launches which cost as low as $0.20. The platform supports automatic migration to Uniswap for any memecoin with market cap larger than 25ETH with free token info listing on Dex Screener.
Upcoming β³
The final phase of Story Protocol testnet will start on Nov 7 next Thursday. Story Network is a general purpose layer 1 blockchain optimized for handling complex data structures fast and cost-efficient. Built on top of Story Network, the Proof-of-Creativity Protocol powers Story's IP functionalities like permissionless licensing, automated royalty payments, and much more. One of most important features is The Programmable IP License (PIL), which allows onramping intellectual property to the blockchain, providing on-chain liquidity for a multi-trillion-dollar asset class.
Airdrops πͺ
Corn launches The Baby Corn Program. This designates Corn as the first
Babylon Labsβ Bitcoin Secured Network (BSN). Now with Babylon's BTC staking caps full, the program essentially make Core the only place to get Babylon points. The Baby Corn Program offers users an opportunity to earn Babylon points by committing assets to Corn-powered liquidity silos and bridging to Corn at network launch. 69,420 Babylon Points will be distributed each day thru the Baby Corn Program (45 days).
Zircuit announces airdrop to EIGEN holders and stakers. The drop rewards participants whoβve supported Ethereumβs re-staking vision. All eligible wallets receive an equal rewardβno matter the stake size.
With the start of the phase 1 of mainnet, Elixir starts the Apothecary Program that will run into and through the public mainnet launch of the network. This program will reward potions to all types of participants and contributors of the network. Over the course of the next 10 months, 750,000,000 potions will be distributed to users, the largest distribution of potions to the community yet. deUSD stakers will now begin earning liquid yield and a 2x potion boost, while Curve LPs (and others) will earn a 10x potion boost.
Aave GHO Passports are open for minting again to celebrate the upcoming events held by rAave in Bangkok. The minting will start at 1PM UTC on Nov 1 with 100 spots. Genesis GHO Passport holders get early access to the mint. And if you've minted all previous GHO Passport stamps, you'll get an exclusive "Big DeFi Energy" stamp.
WalletConnect releases details about WCT participation rewards. Rewards are performance-based. Node operators, wallets, and SDKs can earn rewards by supporting network security and performance. WCT incentives are designed to encourage sustained participation, helping the network scale while rewarding those who contribute consistently over time.
DeepBook increases the V3 testnet reward pool by 5x. 10 million DEEP tokens will be distributed to eligible participants who contributed to DeepBook's testnet Program with no lockup. Testnet participants will be able to check their eligibility and claim their tokens starting Nov 13 on DeepBook's official claim site.
6,386 BOB community members are already eligible for a share of Optimism's $OP Airdrop #5.
Gyroscope adds triple rewards to sUSDe/GYD LP both on Ethereum and Arbitrum. Liquidity providers of the pool will be able to earn 30x Ethena sats, Gyro SPIN, and Balancer rewards at the same time.
Farms π§π»βπΎ
Deposit cbBTC and borrow USDC on Base or Ethereum mainnet to earn your share of $150,000 in incentives through the Merit Program from ACI. These incentives will be distributed over three months. For more details, click here.
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For sponsorships or news tips, reach us at: support@todayindefi.com
Kwenta Integrates Synthetix V3: Introducing Gasless 1-Click Trading and More
The launch of@synthetix_io V3 on @arbitrum is now live, offering new features aimed at improving on-chain perpetuals trading. Integrated with @Kwenta_io platform, the release introduces advanced tools, reduced fees, and additional incentives designed to enhance trading flexibility and efficiency. Here are some things you can do to better understand it
Key Features:
On-Chain Cross-Margin: Traders can use their entire portfolio as collateral across multiple positions, optimizing capital use and risk management.
Multicollateral Support: ETH, tBTC, and USDe can be used as collateral, with more assets to come, enabling diversified and customizable margin portfolios.
Delegated Trading: Users can delegate trades while retaining control over margin withdrawals.
Bridge & Swap: Seamless bridging and swapping of ERC-20 tokens between EVM chains, thanks to integration with Socket.
Gasless 1-Click Trading: Market orders are now gas-free, supported by Alchemy, eliminating the need to manage gas fees.
How Multicollateral Works:
Kwenta's multicollateral system allows traders to combine various assets (such as$ETH,$tBTC, and$USDe) into a single collateral pool, enhancing flexibility and capital efficiency. This approach enables traders to utilize the combined value of their assets as collateral for multiple trades, rather than isolating each asset for individual positions.
Portfolio Management: Users can diversify and manage risk more effectively by using a range of assets as collateral, allowing them to avoid the limitations of single-asset collateral systems. For instance, if a trader deposits both ETH and tBTC as collateral, the combined value of these assets can be used to open or maintain multiple trading positions.
Capital Optimization: The multicollateral system reduces the need for over-collateralization, freeing up capital for other trades or DeFi activities. Instead of locking up ETH separately for one trade and tBTC for another, users can pool their assets together, maximizing the available margin across different positions.
Risk Management: By supporting a diversified set of assets, Kwentaβs system can help traders manage volatility. If one assetβs value declines, the combined value of other assets in the pool can help offset the risk, reducing the likelihood of liquidation.
Maintaining Asset Exposure: Traders can leverage the USD value of various assets as collateral without losing exposure to those assets. This allows users to hold ETH, for example, while still using it to back their trades, letting them benefit from price movements in their collateral.
Supported Collateral Types:
USDx: Native stablecoin for trade settlements, backed by Synthetix V3 collateral. (
USDe: A synthetic dollar supported by delta-hedged Ethereum and Bitcoin collateral. (details here)
tBTC: A decentralized, wrapped version of Bitcoin for trading on EVM-compatible chains. (details here)
ETH/wETH: The native asset of the Ethereum network, wrapped as ERC-20 to facilitate trading and collateral use.
Kwenta's Gasless 1-Click Trading
With the Gasless 1-Click Trading to simplify the trading process by removing the need to manage gas fees and confirmations. Developed in partnership with Alchemy, this feature allows users to execute market orders without extra transactions or wallet popups, streamlining the trading experience.
Steps on how to do it
- Activate "Use 1-Click Trading" on the trade preview screen.
- If not already set up, complete a quick setup transaction and select the session length.
- Once activated, users can execute market orders without gas fees, signatures, or delays.
For security reasons, signatures are still required for advanced orders (such as stop-loss or limit orders), and on-chain transactions are necessary for withdrawals. It is recommended that users maintain an ETH balance to ensure uninterrupted service.
Kwenta Points and Fee Reductions
Traders using Kwenta's on-chain trading features can earn Kwenta Points, which accumulate based on trading activity. These points are designed to unlock future perks and incentives within the Kwenta ecosystem.
As part of the launch, Kwenta is offering a limited-time fee reduction. For the first two weeks, trading fees will be as low as 5 basis points across all markets, allowing users to explore the platform with reduced costs.
Looking Ahead
The integration with Synthetix V3 is a key milestone, but Kwenta plans to introduce more features, including a hybrid orderbook system and expanded support for additional margin assets. These updates aim to further develop DeFi trading options on Arbitrum.
Explore the features here
Resources:
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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.