TodayinDeFi - Pike Finance Allegedly Rugged, More Info about $ME TGE, Renzo Roll Out Liquid Restaking EIGEN, Resolv USR Live on Hyperliquid, and more..

Launches 🚀

• Renzo launches ezEIGEN, the first EIGEN liquid restaking token that helps users to auto compound reward weekly and optimize for the best risk adjusted restaking strategy curated by Renzo.

• Covalent's EWM Light Client Testnet is live, offering rewards for securing Ethereum’s historical data. Participants can earn 20-25% APY and gain early access to the mainnet. For more information regarding the EWM Light Client, visit here. 

  • Today in DeFi is supported in part by Covalent

• Shape, the permissionless chain for all creators, is live now. You can mint STACK to explore and collect art works on Shape to earn Medals and climb ranks. Shape tracks your onchain achievements, preserved in a dynamic NFT.

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• DIA launches 'Lumina' – a brand-new trustless oracle network. Its modular, rollup-based design enables the verifiable sourcing and delivery of any data to any blockchain. Fully decentralized and permissionless.

  • Today in DeFi is supported in part by DIA

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Updates 📰

• Resolv’s USR, a delta-neutral synthetic stablecoin, is now integrated with Hyperliquid. This makes USR the very first delta-neutral stablecoin integrated with both centralized and decentralized exchanges. The integration enables Resolv to leverage Hyperliquid’s perps markets and benefit from the dynamic funding rates.

• Talent Passport, the resume for web3, introduces Base and Ethereum User Credentials. These credentials track your onchain activities. Connect your wallet to Talent Passport and earn points from your previous interactions with the chains. TALENT token is launching in Oct.

• Gamma introduces the long/short LP strategy, which takes a directional view on where price action is going. Backtesting results for the past year of data yielded a strategy that delivered +117% returns, outperforming both Narrow strategy and Hold 50/50. Using MACD indicators, the strategy determines whether to go long or short. If long, liquidity is placed in a wider range above the current price. And if short, liquidity is placed in a wider range below the current price.

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Issues 🚨

• Pike Finance is facing allegations of a potential rug. After raising $6.5 million during a token presale in March 2024, the company announced its TGE on September 30, 2024. However, reports suggest that only $10,000 in liquidity was added to the pool, resulting in a near-zero value for the tokens held by presale investors. The company's plans for the remaining funds raised during the presale remain unclear at this time.

• Gemini, a crypto exchange, is going to close all clients’ accounts in Canada. The decision comes with the regulations introduced months ago that imposes tighter restrictions for crypto exchanges or other trading platforms.

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Airdrops 🪂

• MagicEden released more info regarding ME token launch. ME will be launched through a first-of-its-kind mobile token claim inside Magic Eden Wallet. You’ll be able to link all your existing browser, mobile, and hardware wallets across chains without using your seed phrases. A test token will be launched first in Oct to simulate and test run for ME claim. The detailed tokenomics will soon follow and official TGE afterwards.

• Phantom usernames are now claimable starting from today. If your wallet is eligible, you’ll see a banner in Phantom with the official link to claim your username. If you don’t have access yet, you should get it by the end of the week.

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Farms 🧑🏻‍🌾

• Stake your GHO to earn ~16% APR from AAVE and Merit Program

  • Today in DeFi is supported in part by ACI

• Sandglass, the yield trading protocol similar to Pendle on Solana, has launched a cUSDC vault on Kamino. cUSDC is a deposit receipt for depositing USDC in Kamino's Main Pool. All cUSDC in Sandglass receives a 2x multiplier on its Kamino points on top of 5% PT APY, 4% YT APY, or 5% LP APY.

• Morpho hyUSD/eUSD on Base is now paying eUSD borrowers 3.49% APY against hyUSD collateral. There’s still $200K of available liquidity.

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Farm Promising New RWA Protocol Airdrop with Stables