LWID: Neutrl Launches New Stablecoin, K3 Capital Suing Elixir, Lista DAO Launches Lending V2, and many more...
Launches 🚀
Neutrl has launched, introducing $NUSD—a synthetic dollar that grants access to institutional-grade OTC opportunities and delta-neutral yield. The protocol’s core strategy centers on OTC arbitrage, capturing yield from discounted private-market deals while fully hedging exposure. Users can mint and stake $NUSD for $sNUSD to earn real yield and Neutrl Points via the Origin Program by holding, locking, or providing liquidity.
A new ZK-powered transparency dashboard by AccountableData verifies that $NUSD is fully collateralized, with roughly 10% of reserves in OTC arbitrage and the remainder in stable assets like USDC, USDT, USDS, and USDe.
Injective launched its EVM Mainnet, marking the start of a new MultiVM era with real-time transaction speeds and seamless interoperability.
The MultiVM” architecture, which means supporting multiple virtual machines (VMs) natively on the same chain. Their original setup was WASM-based (WebAssembly, great for Cosmos ecosystems). But to attract more Ethereum devs and liquidity, they’ve now added native EVM support
This upgrade, called Altria, makes Injective one of the first Cosmos chains with seamless EVM + WASM compatibility.
Devs can now deploy EVM smart contracts (using Solidity, etc.) alongside WASM ones. Everything shares the same liquidity pools, assets, and state.
Grvt launched its Liquidity Provider (GLP) Strategy, a native delta-neutral market-making vault managed with a veteran trading firm boasting over 40 years of experience. The strategy, tested for six months with roughly 48% APR and a 7.6 Sharpe ratio, is now live with investment access determined by users’ lifetime trading volume.
GLP investors also receive a share of a weekly 15% Grvt Points pool based on total vault TVL.
Perpl, the flagship perpetual DEX on Monad, has launched its testnet at testnet.perpl.xyz and opened a private beta for 250 users. Those still seeking access can join by submitting the waitlist form on the website and replying to the announcement post.
Sui launched USDsui, a fiat-backed native stablecoin issued by Stripe-owned Stablecoin, designed to support payments, DeFi, and real-world use cases across the network. USDsui is built to integrate with the GENIUS framework and includes yield-sharing features to anchor liquidity and activity across the Sui ecosystem.
Uniswap Labs introduced the Continuous Clearing Auction (CCA) Protocol, a new onchain mechanism for launching tokens and bootstrapping liquidity on Uniswap v4. Built with Aztec’s ZK Passport module for private, verifiable participation, CCA helps teams distribute tokens, establish market-driven pricing, and automatically seed liquidity in a transparent and permissionless way.
The protocol is now live on Ethereum mainnet and Unichain.
EigenCloud and LayerZero launched EigenZero, a stake-secured Decentralized Verifier Network backed by $5M in ZRO to bring slashing-based economic accountability to cross-chain verification. The system lets LayerZero apps choose verifiers based on enforceable economic trust, with failed verification triggering stake slashing and user compensation.
Lista DAO has launched Smart Lending under its Lending 2.0 upgrade, introducing DEX-powered collateral that earns swap fees while backing loans. The new feature allows deposited collaterals to be deployed into liquidity pools, turning them into yield-generating assets and enhancing capital efficiency.
The launch marks the start of Lista’s 2025 Final Sprint, which will roll out more products aimed at smarter, higher-yield lending.
Updates đź“°
Plasma announced a partnership with Daylight Energy to launch GRID, an electricity-backed stablecoin issued by M0 and redeemable 1:1, with sGRID offering yield from real-world energy revenues. Daylight finances distributed energy infrastructure, generating income from electricity sales to grids and off-takers.
The integration brings on-chain exposure to electricity yields for the first time, positioning Plasma as a hub for stablecoins and yield-bearing assets tied to renewable energy.
Based launched BasedPals, the first ERC8004-compliant AI Agentic NFT on Hyperliquid, enabling onchain-verified AI trading agents. Each BasedPal NFT represents an autonomous AI trader capable of executing perpetual trades using models like OpenAI and Anthropic, with unique traits defining strategy and risk profiles. Holders can fine-tune trading behavior, participate in a $50K AI trading competition, and join a prediction market.
The project’s revenue flywheel redistributes protocol earnings to expand prize pools, positioning Hyperliquid as a hub for decentralized AI trading.
Monad announced its public token sale—the first ever hosted on Coinbase—running from November 17 to 22 and open to over 80 countries including the U.S. The sale will offer 7.5% of the total MON supply, priced at $0.025 per token, with a $100K participation cap. MON will serve as Monad’s native token for transaction fees and network staking, launching with a 100B total supply.
About 49.4% of tokens will be unlocked at mainnet, including 7.5B for the public sale, 3.3B from the airdrop, and 38.5B for ecosystem development, while the remaining 50.6%—allocated to team, investors, and treasury—will vest over four years.
The U.S. Treasury and IRS have issued new guidance allowing crypto ETPs to stake digital assets and distribute rewards to investors under a new “safe harbor” framework. The move provides long-awaited regulatory and tax clarity for staking assets like Ethereum and Solana, potentially accelerating institutional adoption. To qualify, trusts must hold a single proof-of-stake asset, maintain independent custody and staking providers, and operate solely to hold, stake, and redeem tokens.
Jupiter announced its integration with Robinhood Wallet, enabling users to explore, swap, and trade SPL tokens directly through Robinhood using Jupiter’s Ultra API for best-in-class execution. The feature is now live on the Robinhood app, expanding Solana ecosystem access to a broader user base.
Resolv Foundation completed its weekly buyback, purchasing 90,000 $RESOLV for $10,000 at an average price of $0.11. The buyback was funded by 20% of core protocol fees generated during the week, continuing the project’s ongoing fee-backed value accrual strategy.
Neutrl has gone omnichain through integration with LayerZero, enabling $NUSD and $sNUSD to move seamlessly across Ethereum, Plasma, and future supported networks. Users can now bridge assets directly via Stargate Finance, expanding Neutrl’s reach and interoperability across DeFi ecosystems.
Sonic Labs CEO Mitchell Demeter outlined the protocol’s next growth phase, emphasizing disciplined execution, financial strength, and long-term value creation. Under his leadership, Sonic is prioritizing fundamentals over speculation, introducing a tiered Fee Monetization (FeeM) system to reward builders and validators while increasing deflation through token burns.
Sonic plans to refine tokenomics, grow its ecosystem via GMSonic, and enhance real business utility through Sonic Improvement Proposals (SIPs).
ZKsync shared a new $ZK Token Proposal that introduces onchain and offchain revenue flows, linking network activity to staking, burn, and ecosystem growth. Governance proposal TPP-12 was approved with 905.6M votes in favor, launching a six-month pilot for ZKnomics Token Staking with 37.5M $ZK in rewards and up to 10% yield, marking a key step toward a more decentralized ZKsync ecosystem.
JPMorgan launched JPM Coin, a dollar-backed deposit token on Base that lets institutions move money in seconds, 24/7, and earn interest on tokenized deposits. The bank plans to add more currencies and broader access pending approvals, with Coinbase set to accept JPM Coin as collateral as JPMorgan expands its blockchain payments network.
Berachain placed affected stable pools on the BEX into emergency withdrawal mode based on Balancer’s guidance, allowing LPs to safely exit while deposits remain disabled. The Balancer team is still assessing vulnerabilities, so the BEX vault and weighted pools stay paused until investigations finish.
Meanwhile, claim withdrawals for users impacted in the Balancer exploit are now live through Berachain’s incident recovery portal, with support available via Discord for any issues.
WLFI announced that USD1 has gone live on AB Chain, marking a step in expanding the stablecoin’s cross-chain availability, with additional utilities planned ahead.
Polymarket announced an exclusive partnership with Yahoo Finance, which will launch a dedicated prediction markets hub powered by Polymarket’s probability data. The hub will feature forecasts on major economic, political, and market outcomes alongside related news and analysis from Yahoo Finance, aiming to give investors clearer context for decision-making when using prediction markets.
Aztec opened its onchain, community-first $AZTEC token sale, offering real-time, Uniswap-powered price discovery starting at a $350M FDV floor. Over 300k whitelisted addresses—including early contributors, testnet operators, Aztec Connect users, and solo stakers—can bid first, with the public sale running Dec 2–6 and tokens withdrawable and stakeable afterward.
Lucid’s November update detailed recent upgrades to the Plasma chain, including architectural refactoring, improved reliability, and new tooling. Plasma One development progressed with a modular payments backend, compliance framework, and a self-custodial wallet now in testing.
Allora launched on Arbitrum, giving developers access to decentralized predictive AI signals that update and verify onchain. The integration enables use cases such as predictive yield strategies, risk-aware lending, dynamic AMM fees, and autonomous trading.
Issues ⚠️
An attacker withdrew $3M USDC from OKX, split it across 19 wallets, and opened roughly $20M–$30M in POPCAT longs on Hyperliquid by stacking a massive buy wall at $0.21. After removing the wall, the entire position was liquidated instantly, leaving HLP with the exposure, which then suffered a further $4.9M loss as POPCAT dumped.
Hyperliquid later manually closed the position, calling it a deliberate attempt to target HLP. The Arbitrum bridge was briefly paused, while all other operations remain unaffected.
MEV Capital reported that its Arbitrum USDC Morpho Vault removed the Stream xUSD/USDC market after the required timelock, realizing a roughly 600K USDC loss from the remaining 5M USDC allocated at deprecation. The vault now holds no exposure to Stream or Elixir assets, and all other markets and parameters remain unchanged.
MEV Capital is coordinating with involved parties on Stream Finance recovery efforts and will update affected lenders as more information becomes available.
Trevee (formerly Rings Protocol) released a post-mortem detailing its exposure to Stream Finance following significant trading losses discovered on November 3, 2025. Trevee Earn had 6.9% exposure in splUSD, 53% in stkscETH, and 92% in stkscUSD, though base assets remain redeemable. Stream borrowed heavily across protocols, reaching $283M in loans, with Trevee’s total exposure at $14.7M. Stream has engaged legal counsel and may recover up to 79% of assets for creditors.
Trevee is halting its rehypothecation feature and plans to reopen redemptions for splUSD at a minimum 0.93 ratio, while stkscUSD and stkscETH recoveries depend on Stream’s unwinding.
The DAO will pursue legal action if breaches of duty are confirmed, aiming for maximum recovery and transparency.
K3 Capital is threatening legal action against Elixir, alleging it operated a “coordinated fraudulent scheme” involving founder Philip Forte and Stream Finance’s Caleb. K3 claims Elixir misrepresented its product by lending $68M to Stream, shifting from a basis trading strategy to a riskier “tokenized fund-of-funds.” The firm also criticized Elixir for allowing deUSD redemptions at 1:1 despite the balance sheet hole, arguing lenders, not holders, now bear the losses.
YAM’s analysis suggests Stream’s actual deUSD exposure is closer to $11.3M—far below the $68M loan—raising concerns that the debt may not be repaid. They argue redemptions should have been paused or adjusted until the loan issue was resolved.
Impermax Finance appears to have been exploited for around 110 ETH (~$380K) via a bug in its isolated leveraged LP lending markets, where the imxToken exchangeRate function defaults to 1e18 when totalBalance or totalSupply is zero and mint/redeem logic has a rounding flaw. An additional issue in a curator-style contract let anyone reallocate deposits between markets, enabling an attacker to zero out a market’s totalBalance while keeping a non-zero totalSupply, then route curator funds into that market at a favorable exchange rate and withdraw for profit.
Only some curator-only vaults seem affected so far, while vaults with direct user deposits appear safer, and the team is aware and investigating.
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