LWID: Gammaswap Launches Yield bearing eth, Sec: LST not considered securities, Pendle launches basis trading, and more…
Launches 🚀
Spout has launched its testnet, bringing tokenized U.S. bonds and ETFs on-chain via KYC-gated, fully backed assets. Built on Pharos Network, Spout aims to combine predictable yields with DeFi composability and regulatory compliance, enabling secure and private lending and credit markets.
Asymmetry launched USDaf, a new borrowing product allowing users to take loans against BTC or stablecoins with customizable fixed interest rates starting from 0.5%. Designed as a capital-efficient and immutable alternative to variable-rate lending, USDaf aims to offer stability and predictability in borrowing, targeting users seeking low-cost, non-liquidating leverage.
The SEC’s Division of Corporation Finance issued a statement clarifying that certain liquid staking activities may not constitute securities transactions under federal law. The guidance focuses on protocols that issue liquid staking receipt tokens in exchange for staked crypto assets, noting that—depending on the specific facts and circumstances—these activities do not involve the offer or sale of securities under Section 2(a)(1) of the Securities Act of 1933 or Section 3(a)(10) of the Exchange Act of 1934.
Pendle launches Boros, a new platform for trading funding rates, launching on Arbitrum with support for Binance BTC-USDT and ETH-USDT pairs. Boros uses Yield Units (YUs), similar to Pendle’s YTs, to represent yield per unit of collateral. Initial open interest is capped at $10M per pool with 1.2x leverage, with plans to scale based on system performance.
The platform enables margin-based yield trading across DeFi, TradFi, and offchain rates, starting with crypto funding rates.
Puffer Finance introduced Puffer Unifi and Puffer Unifi AVS, signaling its entry into the Ethereum-based appchain ecosystem. The update reflects Puffer’s broader move toward modular infrastructure aligned with Ethereum scalability.
Aave released its V3 developer toolkit, including a new SDK, React hooks, and API to simplify integration with Aave markets. Developers can now deploy vaults and connect to lending pools within minutes, offering tailored risk profiles and customizable yield strategies for users.
Mercury launched an iOS super app for Hyperliquid and Hyper-EVM, enabling spot and perpetual trading, fiat and crypto deposits into HL vaults, and native HyperEVM access.
The app supports Apple Pay onramps and integrated trading, aiming to provide a single interface for the Hyperliquid ecosystem.
Ventuals, now live on Hyperliquid Testnet, lets users trade private company perpetuals with up to 10x leverage using mock USDC. Traders can go long or short on startups before IPOs, with potential future rewards for top testnet participants.
EVEDEX has launched on Arbitrum mainnet, offering CEX-style trading with self-custody, instant execution, and a gamified XP system. Traders can earn up to 35% USDT cashback per trade and 50% lifetime affiliate rewards, with easy login via email or wallet.
Updates 📰
GammaSwap launched gETH, its first yield token on Base, offering delta-neutral ETH exposure with yields from Uniswap V3 LP fees while hedging IL via GammaSwap’s protocol. Users deposit WETH, wait 24h, then claim gETH, which passively earns like an LST.
gETH is composable, enabling trading on Pendle, collateralizing on Morpho, or pairing on DEXs. Upcoming tokens include gBTC and gUSDC.
Symbiotic introduced Slashing Insurance Vaults (SIVs), a DeFi-native risk management system inspired by traditional finance. Developed with Re², SIVs let delegators pool capital into tranches—junior, mezzanine, and senior—where each bears slashing risk proportionally, with higher yield for higher risk.
This onchain model enables self-insurance, predictable risk flow, and institutional-style security for decentralized staking.
KyberSwap has integrated liquidity from TrebleSwap, a v4 DEX and DeFi hub on Base, enhancing swap efficiency and depth for users. The partnership allows KyberSwap traders to access Treble's liquidity, ensuring tighter pricing and better rates across the Base network.
ether.fi has added support for USDT via Tether on ether.fi/cash. Users can now hold USDT in their vault, spend it with zero fees, and earn 2–5% cashback on every transaction.
LiquidLaunch has removed the 1 HYPE minimum for token creation, simplified trading mechanics, and eliminated its restrictive signature system to improve composability. These updates enable seamless integrations for bots, dApps, and aggregators, driving more visibility and trading volume.
Tokens launched on LiquidLaunch can now automatically route through LiquidSwap, while the post-bond fee share model continues to reward creators.
Lido and Linea launched Native Yield, integrating Lido V3's stVault infrastructure into Linea’s L2 ecosystem. All ETH bridged to Linea will be staked via Linea-managed stVaults, automatically earning Ethereum-native staking rewards without compromising custody or withdrawal guarantees. Rewards are routed to support Linea-side liquidity and DeFi incentives, with instant withdrawals via a liquidity buffer or fallback to stETH.
This mechanism creates a self-sustaining loop: ETH earns L1 yield, powering L2 liquidity and driving activity that mimics Ethereum’s fee burn model.
Fluid DEX Lite is now live, starting with a USDC-USDT pool and expanding soon. Integrated with Kyber Network and VeloraDEX, with more aggregators to follow, Fluid aims to drive $200M–$400M in daily volume as its credit-based DEX infrastructure scales.
USDT0 enabled zero-fee withdrawals on Bybit for Hyperliquid, Corn, and Berachain networks. Eligible deposits also receive boosted staking rewards, enhancing cross-chain USDT₀ utility.
f(x) Protocol released the audit report for its V2.0 upgrade, completed by OpenZeppelin. The review covered leveraged trading logic, fxUSD stability, oracles, and asset management, concluding with a “robust architecture and high resilience” verdict.
Gearbox launched on Hemi, enabling permissionless lending for BTCfi. Users can passively lend HemiBTC and USDC.e or borrow against ETH, bfBTC, and more. The integration is powered by Gearbox’s permissionless lending stack and secured with over $3M in audits.
To bootstrap liquidity, $10K in USDC.e rewards are offered for the first month.
Mezo Network is now live on Wormhole, enabling multichain transfers of its Bitcoin-backed stablecoin $MUSD to Ethereum via Wormhole’s NTT standard. Built on EVM-compatible infrastructure with Threshold Network custody.
Mezo allows BTC holders to unlock liquidity without selling, with $MUSD maintaining a 1:1 BTC-backed peg.
Aerodrome introduced a redesigned liquidity page featuring improved filters, sorting options, and a more intuitive interface, aiming to streamline the LP experience for users.
Phantom acquired Solsniper, a high-speed trading platform on Solana known for wallet tracking and token monitoring tools. The move brings experienced developers into Phantom as it expands beyond wallet services toward a broader consumer finance platform.
Additional acquisitions are planned to support this growth.
Dexari officially launched on the Apple App Store and Google Play, removing invite codes and opening access to all users. The self-custodial trading app, powered by Hyperliquid, supports spot and perpetual trading with up to 40x leverage, integrated charting tools, onramps, and cross-chain balance management via OneBalance.
Gauntlet is curating Mantle’s $150M+ cmETH restaking vault on Symbiotic, in collaboration with P2P Validator and A41, optimizing non-slashable yield for cmETH holders. The vault consolidates multiple whitelisted strategies under Mantle’s LRT framework, with Gauntlet allocating collateral across networks based on tailored risk profiles.
As part of Symbiotic’s restaking infrastructure, the vault enables shared security and generates both staker rewards and Symbiotic points.
Reya integrated wstETH as collateral, allowing Lido-staked ETH to be used for trading margin on its platform. The update enables users to earn staking yield while trading, with support for srUSD, rUSD, and wstETH.
SEDA went live on Hyperliquid EVM mainnet, enabling developers to access over 11 million data feeds spanning U.S. equities, ETFs, crypto, and private equity. The integration brings institutional-grade data infrastructure to Hyperliquid, powered by the $SEDA token.
Angstrom released its v1 whitepaper, introducing a DEX design that uses offchain auctions to redirect arbitrage value back to LPs and swappers. A top-of-block auction and a batch clearing auction improve execution fairness, minimize slippage, and resist MEV, coordinated by a high-frequency validator network.
OnRe launched ONyc on Kamino Finance, enabling users to borrow, lend, and loop using reinsurance-backed yield as collateral. ONyc is a stablecoin-backed, yield-bearing asset with real-time NAV feeds via Chainlink, offering base yields over 14% and 5x Ethena points. A $200K incentive pool and up to $20M in rewards support borrowing and looping strategies to scale RWA exposure on Solana.
Superform launched the Superform Foundation to oversee governance, infrastructure, and the utility of its $UP token. The Cayman-based foundation will manage protocol upgrades, SuperVault operations, and ecosystem incentives, while developing governance mechanisms for fee settings, validator parameters, and asset allocations.
A tokenomics paper, governance proposals, and $UP functionality are set to go live in upcoming releases.
Boundless launched the verification phase of “The Signal,” enabling anyone to help secure its multi-chain infrastructure by validating ZK proofs from any internet-connected device. With over 100K boosts and thousands of proofs generated, the Mainnet Beta now shifts toward decentralizing trust through mass participation in proof verification.
MetaMask added Sei Network as a default network, enabling users to connect directly without manual configuration. Sei is also now integrated into MetaMask Portfolio, allowing for broader ecosystem exploration and asset tracking.
Pharos is now supported on the Orbiter Finance testnet bridge, allowing users to bridge ETH from Arbitrum and Sepolia to the Pharos testnet. The integration simplifies testing and development on Pharos’ RWA-focused L1.
Yei Finance launched its money markets protocol on the Injective EVM testnet, introducing new yield strategies within the Injective ecosystem.
Kyber Network launched FairFlow, a new LP model on Uniswap V4 that adds Equilibrium Gain (EG) sharing and liquidity mining rewards on top of traditional fees. LPs can also earn additional yield without staking, combining multiple reward streams into one passive strategy.
Theo launched thBILL on Arbitrum, bringing an institutional-grade onchain money market fund to the L2. thBILL is available for trading on Uniswap and through supported aggregators.
Trevee launched its Auto-Voter feature, allowing veNFT holders to automate voting with options like maintaining lock, max lock, auto-compounding, or manual claiming. Users from Tholgar Auto-Voter can migrate to Trevee’s new system for continued rewards.
SharpLink raised $200M in a direct offering at $19.50 per share, led by four global institutional investors. Proceeds will expand its Ethereum treasury, projected to exceed $2B upon full deployment, as the company pursues an ETH accumulation, staking, and growth strategy.
HyperLend has unveiled the Hyperliquid Unified Trading Account (UTA), integrating HyperLend and Hyperliquid into a single portfolio margin system. The UTA removes the need for manual fund transfers between HyperCore, HyperEVM, and HyperLend, allowing users to trade with their full capital balance in one step.
This automation enables access to triple incentives from HyperLend, Hyperliquid, and partner platforms.
Euler launched the first zkVerified lending vault on Avalanche, enabling institutions to access DeFi with privacy and compliance through Keyring Network’s zero-knowledge credential verification.
The vault uses xUSDC as collateral, allowing borrowing while underlying USDC is deployed into yield strategies, with $570K in incentives to start.
SEDA has launched on Arbitrum, giving builders instant access to over 11 million institutional-grade data feeds spanning US equities, ETFs, crypto, and private equity. Developers can start building on Arbitrum One and Sepolia using SEDA’s infrastructure.
yUSD is now live on EulerSwap, enabling near zero-slippage swaps, improved peg stability, and unified lending plus swapping for greater capital efficiency. The integration has already seen over $700K in volume.
Rysk has removed access restrictions, opening its covered call options platform on HyperEVM to all users. Since its soft launch, the protocol has become the first to offer on-chain options for assets like HYPE, kHYPE, and PUMP. With current TVL at $4.2M, Rysk aims to hit $10M to trigger a points-based rewards program for early users, designed to loop value back into the ecosystem and scale growth.
Upcoming features include cash-secured puts, productized market making via HIP-3, early position closing, more native asset integrations, and multiple expiries.
Issues ⚠️
Credix was exploited for $4.5M after an admin account with multiple high-level roles was compromised. The attacker abused the BRIDGE role to mint unbacked acUSDC and drain assets from the Sonic USDC pool.
