Last Week in DeFi - Maple Finance, Arbitrum, xToken Hack, and More
Last week saw Maple Finance and Slingshot launch, as well as several DeFi classics; Alpha Finance and Cover update to V2 (alpha was a relaunch following an exploit in the first launch)
Another week another DeFi hack: staking project xToken was exploited
Several projects announced upcoming launches: Arbitrum, Sushi, and BoringDAO.
P.S. We’ve changed format of the weekly newsletter to make it easy for you to skim through and/or to read news details (by clicking the headlines). Please enjoy!
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Maple is Live
Maple Finance launched on May 15, bringing credit based lending to DeFi. They’re currently focused on Institutions
Slingshot on Polygon
Slingshot, a rebranded DEX aggregator promising better on-chain liquidity, launched an open beta on Polygon.
Cover V2 Live
Cover Protocol upgraded to V2 to improve capital efficiency, and V2 also expanded Cover to BSC.
Sudoswap V2 Live
P2P swapping platform Sudoswap upgraded to V2 with more features added as the swap fee remains zero.
Index Coop BTC2x-FLI
Index Coop launched BTC2x-FLI as an extension of their FLI (Flexible Leverage Index ) suite of products.
YFI Woofy Live.
Yearn team launched Woofy on May 12, which is available on Ethereum, BSC, and Fantom. Woofy is a low priced dog coin that is pegged to YFI.
Alpha Homora relaunched its V2 update. The first launch suffered an exploit.
Balancer launched the public facing interface of their V2 AMM.
Yield aggregator project xToken got hacked and lost ~$25m in funds across their xBNT and xSNX pools.
Sushi MISO Launching
Sushi is launching a new token offering platform for project builders on May 17.
Arbitrum Mainnet Soon
Layer 2 platform Arbitrum plans to open mainnet for developers on May 28.
Multi-chain bridge project Boring will upgrade to V3 this year. The upgrade will expand support to more EVM compatible chains, as well as introduce features for NFTs and Layer 2s.
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Disclaimer: Projects or tokens mentioned in this newsletter are often experimental or unaudited. Do your own diligence before using or buying anything mentioned.