Last Week in DeFi - Maker Spark Lend, MetaMask x PayPal, Lido V2 Coming, and More...
Recap: Week of May 8th
Product Launches π
Maker Spark Lend
Maker launched Spark Lend, a lending protocol that allows users to lend/borrow ETH, stETH, DAI, and sDAI. Spark Lend is not available for users from the U.S.IndexCoop launches the Money Market Index ($icSMMT), an index token of the top stablecoins. Holders of icSMMT earn yield from Morpho, Aave, Compound, and Notional.
Prime Protocol Mainnet
Prime Protocol is now live on Ethereum, Avalanche, Arbitrum One, and Moonbeam. Prime allows users to borrow cross-chain backed by their entire portfolio of cross-chain assets. Prime also launches an Early Adopter Program that rewards users with points.Cosmos Neutron Live
Neutron Chain, the first consumer chain Cosmosβ Replicated Security, is now live. Built using Cosmos SDK, Neutron allows devs to launch smart contracts that can interoperate with other protocols and appchains.zkLend Live on Starknet
L2 lending protocol zkLend is now live on Starknet mainnet. Users are now able to borrow against ETH/wBTC/USDC/USDT/DAI with initial borrow caps.Chiliz Chain Live
Chiliz Chain, the EVM-compatible L1 built for e-sports and entertainment, is now live and powered by the CHZ token.
Project Updates π©
MetaMask Buy with PayPay
PayPal is now available as a payment method in the MetaMask wallet. Users can now buy ETH using PayPal directly from MetaMask.Uniswap Fork on Bitcoin
Trustless Market, a Uniswap replicate, is now live on Bitcoin as BRC-20 tokens gain traction on the Bitcoin network.Klaytn On-chain Governance
Klaytn releases the full version of Klaytn Square, its on-chain governance platform for the community to see all the discussions and decisions made by the Klaytn Governance Council.zkRouter dApp on Testnet
The first dApp on zkRouter is now live on testnet, allowing users to test bridging between Ethereum and Fantom.LooksRare Mobile Beta
LooksRare launches a test version of its mobile app, allowing users to test trading NFTs and managing portfolios on their phones.
Governance Highlights π
The 5 Phases of Maker Endgame
Maker founder Ruin proposes a 5 phases Endgame plan that will rebrand MKR & DAI, enable SubDAOs, build AI tools, launch governance Participation Rewards, and eventually build Makerβs own chain.Proposal: Unboard GNO to Spark
Phoenix Labs proposes to onboard GNO to Spark protocol. If onboarded, βGNO will only be allowed in Sparkβs isolation mode, meaning that the position will be isolated from other collaterals and only be allowed to borrow DAI.βAragon Repurposes Treasury
The Aragon Association repurposes the Aragon DAO into a grants program as a response to the event of a group of investors trying to get 51% of the DAO's voting power.
The action is controversial since the association seems to be overriding DAO actions, indicating Aragon may have undue admin/emergency powers over governance.
Hacks/Issues πΎ
Ethereum Beacon Chain Hiccup
The Ethereum beacon chain experienced a temporary issue, halting transaction finalization for roughly 25 mins. The finality had later been restored and on Saturday the devs released updates for Prysm and Teku clients to resolve the finality issues.Bittrex Filed Bankruptcy
On Monday, crypto exchange Bittrex filed bankruptcy in Delaware, a few weeks after being prosecuted by the SEC and a few months after they announced they would be ceasing operations in the U.S.
Upcoming β³
Lido V2
Lido v2 is expected to go live this week. The upgrade will enable withdrawals as well as the Staking Router modular architecture.Kava V13
The Kava v13 upgrade is going live on May 17th. The upgrade will enable Kava EVM 2.0, improved CosmosβEthereum bridging, and advanced vault control.F(x) Protocol xETH
Built by AladdinDAO, the f(x) protocol whitepaper is out - introducing the protocol and its flagship product xETH, a floating stablecoin that is pegged to native ETH.Avocado Multisig
Smart contract wallet Avocado will soon launch a multisig wallet. Avocado Multisig will enable individuals & institutions to use the same address across supported chains and keep a single gas balance, which can be used on any chain.Worldcoin Coming to Optimism
UBI project Worldcoin sets to launch World ID & its wallet app on Optimism.
Today in DeFi Premium includes early looks at promising projects, yield farming tips, and proper research to help you get the most out of DeFi.
For example, last week we published the following features for our Premium Subscribers:
Boosted LPing
Trade to Earn
and moreβ¦
If you havenβt, subscribe today with Credit Card or Crypto (get discounts on quarterly or yearly subscriptions).
Keep reading with a 7-day free trial
Subscribe to Today in DeFi to keep reading this post and get 7 days of free access to the full post archives.