Fogo Launching Presale, Stable Mainnet and Airdrop, HyENA Launches Perps DEX, and many more...
Launches 🚀
Stable launched StableChain, a new Layer 1 designed for USDT-native settlement and high-volume payment activity. The mainnet release is positioned as a step toward more predictable and scalable stablecoin transactions. Additional details were shared in the full announcement.
Ellipsis Labs launched Phoenix Perpetuals, a fully on-chain perpetuals exchange on Solana, now live in private beta. Built on the same infrastructure as Phoenix spot markets and SolFi AMM, the platform brings its matching and risk engines fully on-chain, allowing third-party developers to build directly on the protocol.
HyENA, a new USDe-margined perps DEX built on Hyperliquid’s HIP-3 standard, has launched with native rewards that turn margin collateral into yield. Traders earn APY on idle USDe, access an HLPe vault that bundles trading returns and basis, and receive points through a 100m/week program. The first month features 12%+ APY on eligible margin and fee-free migration for the first week. Access is invite-only.
Tempo, a payments-focused chain built for instant settlement, stablecoin-native transactions, backed by Paradigm and in partnership with Stripe, launched its public testnet, with predictable fees. Major partners across tech, fintech, and banking — including OpenAI, Visa, Shopify, Nubank, Brex, Mastercard, and Deutsche Bank.
Legend, an on-chain mobile app, removed its waitlist and is now publicly available in 33 countries, offering earning, trading, borrowing, and looping features through its on-chain money superapp on the App Store.
Gondor introduced borrowing against Polymarket positions, letting users deposit their prediction-market shares as collateral and borrow up to 50% LTV in USDC, powered by Morpho on Polygon. Positions load automatically for wallet users, and loans follow isolated risk with dynamic rates capped per market.
Liquidations use opposite-outcome hedging to minimize latency, and leverage up to 2Ă— is supported through automated looping.
Avon, a real-time credit layer protocol, opened its public testnet, inviting the community to try its service ahead of mainnet. Users can explore the system now and share feedback as Avon finalizes its launch.
Axis launched its on-chain yield protocol backed by a $5 million strategic round led by Galaxy, with participation from FalconX, OKX Ventures, Maven 11, GSR, and others. The protocol centers on USDx, a dollar-linked asset backed by collateral and returns from a diversified, delta-neutral arbitrage engine spanning basis trades, CEX–DEX arbitrage, and cross-currency strategies.
dYdX launched spot trading for Solana assets with zero fees, expanding beyond its core perpetuals offering. The feature is available to U.S. users and allows trading of Solana-native tokens directly on the platform.
Updates đź“°
Fogo, an SVM Layer 1 built for on-chain trading, set its presale for December 17, offering 2% of its genesis supply in an eight-hour, first-come, first-served sale with a hard cap that closes once filled. USDC transfers are already open, allowing eligible users to pre-fund wallets ahead of the event, while a minimum ticket size of $100 applies. The US, UK, and Canada are restricted from participating.
Octra, a blockchain that can run computations on fully encrypted data without ever decrypting it, will conduct its ICO on December 18–25 via Sonar, selling 10% of its 1 billion OCT supply at a fixed $0.20 price for a $200 million FDV, with the allocation expandable up to 2x if oversubscribed. Tokens are unlocked and distributed shortly after the sale, and any unsold amounts will be burned
Synthetix launched Wick Insurance, a mechanism that delays liquidations for a short window by freezing an account and giving traders time to add margin if prices rapidly wick. Positions reopen if they recover before the timer ends; otherwise, liquidation proceeds normally.
Ondo disclosed that the SEC has closed a confidential investigation into its tokenization activities and the ONDO token with no charges filed. The inquiry dated back to 2024, during heightened regulatory scrutiny of digital-asset firms, particularly around tokenized Treasuries. Ondo framed the outcome as a positive signal, noting it will outline its next roadmap phase at the Ondo Summit on February 3, 2026.
InfiniFi approved and allocated capital to Cap, a lending framework that uses EigenLayer and Symbiotic restaked collateral to offer covered credit with institutional-grade risk mitigation. The partnership begins with stcUSD and PT-stcUSD, where InfiniFi has already entered positions.
Sky Protocol bought back 35.6 million SKY last week using 1.9 million USDS, bringing total program buybacks to more than 90 million USDS. The buyback mechanism and parameters follow the Sky Atlas framework approved by governance.
YO enabled native Ethereum deposits across all yoVaults, allowing users to deposit and receive yoTokens directly on Ethereum while earning yield on the same chain. The update streamlines access by removing cross-chain steps.
Hyperliquid Strategies, the Nasdaq-listed HYPE token treasury (PURR), approved a $30 million stock buyback just days after launching. The firm previously filed to raise up to $1 billion for its treasury operations and aims to boost shareholder exposure to HYPE through staking and DeFi strategies.
Tether’s USDT has been officially recognized as an “accepted fiat-referenced token” by Abu Dhabi’s ADGM, allowing licensed firms to offer regulated trading and custody with the stablecoin. The designation expands USDT’s institutional usability across payments and settlement, building on earlier approvals across Ethereum, Solana, and Avalanche.
Greenlane expanded its Berachain strategy with $8 million in new BERA purchases, adding 5.76 million tokens at a $1.39 average. The firm now holds 60.17 million BERA, with 8.33 million staked and generating over 180,000 BERA to date. PoL staking showed a 30% annualized rate as of Dec. 3.
USD.AI approved a $200m financing facility to Quantum Solutions, a publicly listed Japanese tech firm, to scale its AI data-center GPU infrastructure. Combined with the recent $500m QumulusAI facility, USD.AI has now enabled over $700m in approved GPU-backed financing for institutional operators.
YieldNest partnered with XDC Network and launched incentives worth over $59,000. The update highlights ynRWAx, a product backed by roughly $320 million in regulated Australian mortgage assets that generates yield from borrower repayments.
Celo launched the Celo Tokenomics Initiative to redesign CELO’s economic model as the network scales. The review will consider fee burns, buybacks, and updated revenue flows to better link CELO to real network activity and growing stablecoin usage
Hastra launched PRIME staking, allowing users to mint PRIME by staking wYLDS and earn yield sourced from Figure’s decentralized lending platform. The release is part of a broader RWA consortium effort that includes integrations with Kamino for leveraged loops, CASH for borrowing, Raydium for liquidity, and Chainlink for oracle support.
Avon published revamped documentation ahead of mainnet, outlining a lending system built on isolated strategies rather than pooled liquidity. Each strategy sets its own curve, LTV, and liquidation rules, while an onchain order book aggregates quotes into a unified credit surface for borrowers. The design aims to improve transparency and real-time coordination using MegaETH’s throughput.
Velodrome completed its domain migration and confirmed that velodrome.finance is live with enhanced security protections.
Aster will accelerate its Stage 4 buybacks to about $4 million per day starting December 8, up from $3 million. The faster pace aims to bring accumulated fees on-chain sooner and strengthen support during volatility. Once steady-state is reached in 8–10 days, buybacks will continue at 60–90% of the previous day’s revenue.
Hyperliquid linked USDC between HyperCore and HyperEVM, enabling secure, natively minted cross-chain deposits and marking the first step toward deprecating the Arbitrum bridge. Users can continue depositing and withdrawing through both routes, with HyperCore now supporting one-click CCTP deposits from enabled chains
Issues ⚠️
USPD reported a critical exploit involving unauthorized minting and liquidity draining, urging users not to buy USPD and to revoke approvals immediately. The team said the attack stemmed from a proxy takeover during deployment—via a sophisticated “CPIMP” vector—allowing the attacker to install a hidden implementation while appearing legitimate on block explorers.
The attacker later upgraded the proxy to mint roughly 98 million USPD and drain 232 stETH($719k)
USPD is coordinating with law enforcement and offering a 10% bounty if funds are returned.
ZKsync announced it will sunset its Lite network in 2026, concluding the 1.0 system that supported low-cost payments, transfers, swaps, and NFT minting before activity shifted to the ZKsync Era. Lite now processes under 200 daily transactions, though roughly $50 million remains bridged, with withdrawals to Ethereum L1 continuing safely. A migration guide will be released next year as the team focuses on the ZK Stack and institutional private networks like Prividiums.
Steakhouse Financial published a detailed primer on the recent ~2% mF-ONE NAV drop, emphasizing that lenders in Smokehouse USDC were unaffected and that the valuation change reflected an update from a regulated fund administrator tied to a borrower default in Fasanara’s loan book. Steakhouse outlined why the event posed no liquidation risk, noting healthy LTVs, prior scenario modeling, and liquidity mechanisms that provide ample time for orderly resolution.
The team reiterated confidence in the asset’s risk profile and said it continues to monitor private credit markets and update users as needed.
Almanak said its airdrop claims were disrupted by a 20-minute activation delay and wallet creation failures during peak demand. The team attributed the delay to an operational error and the wallet issues to a DDoS attack that left roughly 1,100 new wallets stuck in a pending state, while existing wallets were unaffected.
Almanak said all systems are now restored, no tokens were lost, and claims are proceeding normally, though the incident briefly weighed on market sentiment due to access uncertainty.
For sponsorships, questions, or news tips, reach us at: support@todayindefi.com
Today in DeFi Premium includes early looks at promising projects, yield farming tips and guides, and deep research to help you get the most out of DeFi.
We published exclusive content that will assist you in navigating your decisions, and help you make money in the market:
Earn 12% Stablecoin Yield + Airdrops
Get a subscription with a credit card below, or pay in crypto for 2 months off a yearly subscription or $20 off a quarterly subscription.
Follow @todayindefi to keep up with the latest DeFi news on Twitter.
Disclaimer: Projects or tokens mentioned in this newsletter are often experimental or unaudited. Do your own diligence before using or buying anything mentioned.
