Last Week in DeFi - Phantom Wallet Cross-Chain Swaps, Blast L2 Early Access, Range CAKE Bonus, Dydx Insurance Fund Exploited for 9M, and More...
Recap: Week of Nov 13th
Product Launches 🚀
Phantom Cross-Chain Swapper
Phantom launches the Cross-Chain Swapper, allowing users to bridge tokens across Ethereum and Solana.
1inch Portfolio Tracking
1inch launches a new portfolio tracking feature, allowing users to manage multiple wallets across networks from one place.
LayerZero Launches USDV
LayerZero launches USDV, an omnichain stablecoin backed by short-term treasuries. USDV is powered by ColorTrace, a token coloring algo that allows miters to mark USDV in their color, gaining the right to claim the rewards from their contributions to the USDV.
Solana-based lending Kamino launches v2 with a new UI, upgraded risk management, and new defi tools.
Armada V2 on Solana
Solana-based Armada launches V2 SPL Token Staking and DeMUX. SPL is a governance plugin that allows token holders to vote on DAO proposals while staking their tokens to receive rewards. DeMUX allows for semi-automated protocol reward distribution.
Perpetual Earn Dashboard
Perpetual launches a one-stop dashboard for all its Earn products, allowing users to monitor their strategies.
ZK infrastructure developer zkLink introduces zkLing Nexus, a layer-3 network that connects multiple popular Ethereum rollups, including zkSync, StarkNet, and Polygon zkEVM.
Project Updates 🚩
Blast L2 Early Access
Backed by Paradigm and StandardCrypto, Blast is an L2 that “natively participates in ETH staking, and the staking yield is passed back to the L2’s users and dapps.” Blast is live in invite-only mode
Aave Rebrands to Avara
Aave announces the Avara brand, serving as a new identity and the parent entity of brands that include Aave, Lens, GHO, etc. Aave also announces an acquisition of the team behind Family Wallet.
Morpho introduces AdaptiveCurveIRM, a new immutable interest rate model for the upcoming Morpho Blue. “In Morpho Blue, the interest borrowers pay is defined by an Interest Rate Model chosen at market creation among a governance-approved set.”
Clearpool New Staking Model
Clearpool introduces a new staking model with gCPOOL. The new model fuels demand for the CPOOL token and allows large institutions to enter the Clearpool ecosystem.
JPMorgan Tokenizing Assets with Avalanche
JP Morgan’s Onyx collaborates with Avalanche for tokenizing assets. The collaboration highlights the use of an Avalanche subnet for connecting portfolios to WisdomTree’s tokenized assets.
Airdrop Opportunities 🪂
Range CAKE Bonus
Range protocol partners with PancakeSwap to become its first Ethereum Position Manager. PancakeSwap vaults on Range will get an extra 2250 CAKE in rewards for 2 weeks.
Linea Deploys Voyage XP Contract
Linea deploys the contract for voyage XP. Users can now connect their wallets and bind multiple wallets on the Linea website to accumulate XP on a primary wallet.
Jupiter Airdrop Confirmed
Jupiter confirms airdrop details - 10B Total Supply, Snapshot Taken - Wallet Who Interacted Before 2 Nov, 955K Wallets Eligible, 1st-phase airdrop supply is 1B (10%)
Ether.fi Live for the Public
Ether.fi opens access to the public. Anyone can now stake ETH and mint eETH to earn staking rewards, Ether.fi points, and Eigen Layer points.
Dydx v3 Insurance Fund Lost $9M
dYdX v3 insurance fund lost $9 million, representing around 40% of its total, following liquidations in the Yearn Finance (YFI) market.
Woo X Pauses Trading
Kronos Research, Woo X primary LP, recently experienced a hack that caused them to pause all trading on WOO X. Kronos' estimated loss is at ~$25 million.
Trader Joe Potential Exploit
Trader Joe identified a potential exploit in a 3rd party code used by its frontend. The team has fixed the issue and the frontend has been restored.
Butter Finance Canceled
Butter Fnance announces cancelation of the project as "contributors found the proposed veCAKE system & incentives model to be impractical for a path forward for Butter."
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