Today in DeFi - Arbitrum Launched Stylus, Penpie Loses $27M in Reentrancy Attack, Ethena Partners with EigenLayer & Ether.fi, Try New Financial Rollup on Testnet to Unlock Airdrops, and more..

Launches 🚀

• Arbitrum has launched Stylus on mainnet. Stylus introduces a co-equal virtual machine for running WebAssembly (WASM) code alongside the EVM, allowing developers to use languages like Rust for more efficient and complex smart contracts.

• Lombard has launched the public beta for LBTC, a liquid Bitcoin integrated with DeFi platforms such as Pendle, Morpho, and Gearbox for re-staking, lending, and yield-farming. The LBTC DeFi Vault, managed by Veda, is designed to simplify DeFi access. The rollout includes integrations with Ethereum Layer-2 and plans for future Bitcoin Layer-2 integrations.

• Polygon is preparing to transition from its MATIC token to the new POL token. This change is part of Polygon's "Polygon 2.0" roadmap and will replace MATIC as the native gas and staking token for the Polygon PoS network and other chains within its ecosystem.

• Espresso Systems, a coordination layer for chains, rollups, and applications, has announced the launch of Kyoto 2.0 on the Cappuccino Testnet. This deployment includes AltLayer's Arbitrum Orbit rollup, which is now open for public testing and application deployments.

• Kamino Finance is launching Kamino Lend V2, a new lending platform on Solana featuring enhanced security and novel primitives. Updates include the Market Layer, Vault Layer, and a Next-Gen Liquidation Engine.

• Elixir's Testnet v3 is now live, representing the final testnet release before the mainnet launch. Validators are invited to participate and help secure the network.

• Nimbora has transitioned from alpha to public access. Key updates include open access without referrals, removal of caps on top-performing strategies, 1-click deposits via Avnu, and improved withdrawal and order tracking.

• LAGRANGE, a hyper-parallel ZK coprocessing solution, has introduced its ZK Coprocessor 1.0 for SQL-based verifiable computation over blockchain data at scale. This release, supported by the decentralized Lagrange Prover Network on EigenLayer, aims to support data-intensive and interoperable applications.

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Updates 📰

• Sky has announced the launch of its decentralized stablecoin, USDS. The stablecoin offers native token rewards without requiring interaction with external protocols. Beginning September 18, eligible users can upgrade DAI to USDS at a 1:1 ratio or swap supported cryptocurrencies for USDS, gaining access to Sky Token Rewards and the Sky Savings Rate.

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Issues 🚨

• Penpie experienced a ~$27M loss from a reentrancy attack caused by a vulnerability in the PendleStaking contract. The attacker exploited this by creating a fake yield token, registering it on Penpie, and using it to harvest and claim high-value PENDLE-LPT tokens. Penpie is currently negotiating with the hacker for a potential bounty to recover the stolen funds.

• Amphor.io reported a loss of 1,381.7 ETH (32% of the Boosted ETH vault's total value) due to an exploit in a position on Penpie's rswETH LP. The vault is temporarily halted while a full assessment is conducted. However, other assets, including the Symbiotic LRT Vault and Amphor’s restaked assets, remain unaffected.

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Upcoming ⏳

• Ethena Labs has partnered with EigenLayer and Ether.fi to introduce USDe, the first dollar-denominated token within EigenLayer's shared security platform. Users will be able to deposit USDe on Ether.fi to receive the new Liquid Restaking Token, eUSD. This integration is expected to go live next week.

• Binance has announced the upcoming launch of its Solana staking product, BNSOL, scheduled for late September 2024. This product will enable users to stake SOL tokens, earn dynamic rewards, and mint liquid staking tokens for use in DeFi, while keeping their assets accessible.

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Airdrops 🪂

• Linea has announced that the LXP drop is approaching and reminds users to complete their Proof of Humanity (POH) by September 8, 11:59 PM Pacific Time to be eligible.

• IAMDOG has scheduled its Token Generation Event (TGE) on Matchain for September 11, 2024. This event will mark IAMDOG as one of the first meme coins on Matchain's mainnet, with trading available on MSwap and bridging via RouterNitro.

• Aevo has announced the launch of its Aevo Airdrops project in collaboration with Orderly Network, distributing 75,000 $ORDER tokens to eligible users.

• Satoshi Protocol has announced the launch of the BOB Forge NFT, allowing users to mint 15 SAT stablecoins by September 30 to claim the NFT and access exclusive benefits, including a 1.25x Spice boost and an additional Spice airdrop.

• Maple Finance has announced that MIP-010 has successfully passed, with SYRUP scheduled to launch in Q4.

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Farms 🧑🏻‍🌾

• Stake your GHO to earn ~21.13% APR from AAVE and Merit Program

  • Today in DeFi is supported in part by ACI

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Try New Financial Rollup on Testnet to Unlock Airdrops