Last Week in DeFi - Gearbox V3 on Arbitrum, Notional V3 Coming to Ethereum, Wormhole Airdrop Checker, High Yield Stable Farms, and more....

Recap: Week of Mar 4th

Launches 🚀

• Kwenta announced the beta launch of Perps v3 on Base L2. The release includes USDC Deposits, Native Cross-Margin, Better Pricing, and Support for Base L2.

• IVX launched the testnet version of Diem, a Berachain-based 0TDE options market. Users need to collect referral codes from IVX Discord to access Diem.

• Astar zkEVM is live. Astar zkEVM is an Ethereum L2 using Polygon’s Zk tech and the first chain that integrates with Polygon AggLayer.

• Polymer Testnet is live. Polymer provides IBC as a feature to the Ethereum ecosystem enabling modular security and expansion of the IBC network.

• Pac Finance, the first hybrid lending protocol on Blast L2, is live. The team will airdrop to early adopters and Blast L2 bridges.

• Tokemak Autopilot, a new way to LP through Autopools, is live on mainnet in its guarded launch phase. At this stage, Tokemak is the only depositor into Autopilot to test its rebalancing mechanisms.

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Updates 📰

• Avalanche developers launched Teleporter, a cross-chain messaging protocol that enables sharing various data types, including tokens, NFTs, and Oracle price feed data across Avalanche subnets.

• Inverse now supports Wrapped Bitcoin (WBTC) as collateral on FiRM, users can borrow DOLA at fixed rates over any duration.

• IntentX now supports Stop Loss & Take Profit functions. Users can now set up TP/SL for their positions.

• The SEC has again delayed the date of issuing a decision on BlackRock and Fidelity's applications to launch Ethereum spot ETFs.

• ZKX launched Paymaster, allowing users to onboard USDC directly to ZKX without funding ETH for gas fees.

• Fraxtal Bridge is live, allowing users to bridge ETH, FRAX, frxETH, and more over to Fraxtal.

• Redacted Cartel integrates with LayerZero and allows users to bridge pxETH and apxETH via the Dinero dApp to Arbitrum, Optimism, and BNB Chain.

• Sushiswap v3 & v3 AMM is now live on Blast L2.

• Gearbox deployed V3 on Arbitrum, enabling PURE Margin Trading and LSD strategies featuring assets like GMX and PENDLE on Arbitrum.

• Stryke (formerly Dopex) CLAMM vaults are now live on Orange Finance. CLAMM vaults automate liquidity management while maximizing rewards for LPs.

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Hacks 🚨

• WooFi experienced an exploit that targeted its swap feature on Arbitrum, leading to a loss of ~$8.75 million. The team aims to have WOOFi Swap functional again within the next two weeks and offers the exploiter a 10% white hat bounty.

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Upcoming ⏳

• Uniswap passed the temperature check of the proposal to collect and distribute protocol fees to UNI holders. An on-chain vote will be posted on March 8, 2024.

• Gearbox will support USDe and sUSDe on March 11th, enabling users to leverage their positions and earn up to 90X Ethena Shards.

• Notional V3 is scheduled for deployment on Ethereum on March 25th. The team is implementing measures to incentivize users to migrate from V2 to V3 and wind down Notional V2 entirely over the next 3.5 months.

• Angle DAO is voting to rebrand agEUR into EURA and change stEUR name for staked EURA.

• Nostra introduced stSTRK, Starknet's liquid staking token. stSTRK will allow users to maintain their liquidity, collect points, participate in Starknet DeFi, and earn yield from Starknet staking when it launches.

• Aave ACI proposed adding sUSDe to Aave V3 on Ethereum.

• dYdX is voting to distribute $5M in DYDX tokens to qualifying users in trading season 2 of the dYdX Chain Launch Incentives Program.

• IndexCoop proposed ideas for improving the INDEX token's utility and overall tokenomics. Proposed ideas include Product Revenue Tokens (PRTs), INDEX on more CEXs, stINDEX, and others.

• ENS DAO is discussing a core ENS integration into Solana as Solana currently lacks a good native naming system due to the failure of the Solana Naming Service (SNS).

• Synthetix is voting on SIP-2055, a proposal to implement a new fee module that decreases gas costs by 3x.

• IndexCoop is discussing to introduce the Index Coop Layer 2 Index (icL2) and the Artificial Intelligence Index (icAI).

• Bazaar, an upcoming cross-chain launchpad protocol, is partnering with Across to enable users to participate in launches from any chain.

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Airdrops🪂

• Renzo ezETH is live on Mode L2. Users can now bridge ezETH to Mode and earn Mode Points on top of their Staking Yield, EigenLayer Points, and Renzo Points.

• Sturdy V2 is live on Mode L2. Sturdy partners with Renzo and allows users to earn up to 10x more EigenLayer points and 20x more Mode and Renzo ezPoints.

• Jupiter launched a genesis vote to familiarize users with the governance platform. All votes (including the genesis vote) will receive incentives, which include launchpad fees from the JUP and WEN launch and upcoming fees from launchpad projects.

• Alpaca Finance announced the PYTH Airdrop Distribution Plan. 250k PYTH will be distributed to ALPACA Governance Vault stakers and Alperp traders.

• The Aevo team will launch the AEVO airdrop on March 13th and distribute tokens to “all Aevo users up to this point who have met the volume.”

• Wormhole launched the W token airdrop eligibility checker. Users are encouraged to check all wallets that interacted with Wormhole ecosystem apps. Rewards will be split across all wallets per user.

• Vector Reserve, the issuer of the first LPD, introduced vPoints to aggregate both EigenLayer Points and LRT rewards points including ezPoints, Ether.fi’s Loyalty Points, Kelp Miles, and Puffer Points.

• Frax Finance’s first snapshot for Fraxtal FXTL points will be taken on March 6th, and there will be a second snapshot for more FXTL points on April 3rd.

• MYX Finance announced the MYX Project Origin Season 1 Cambrian Launch with a 20 million MYX tokens distribution. The event will last 28 days, allowing users to earn GEMs and share in the token rewards.

• Ambient (formerly CrocSwap), a Blast-based DEX, announced the launch of Ambient Points.

• Pike Finance unveiled the Pike PIU Program (PPP). Users will earn the $PIU token - a community token that can be claimed anytime and is claimable and tradable on both Base and Solana.

• Stride now allows stDYDX holders to check their airdrop allocation by searching Stride’s GitHub repo. Daily snapshots will continue for another 3 months.

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Farms 🧑🏻‍🌾

• Maple Direct launched the new High Yield Secured Lending Pool, targeting a good net APY on USDC.

• Notional ARB incentive allocation is up by 16% across all pools.

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