Today in DeFi - Jupiter Launching Giant Unified Market Initiative, GalaGames Exploited for 22M, deBridge Introduces $DBR, Earn Points by Installing Wallet Extension, and more...

Launches 🚀

• Catalyst, a cross-chain AMM, is live on mainnet. Users can now swap native ETH between OP stack L2s including Optimism, Base, and Blast. Catalyst also began the Eggs Reward Program to distribute weekly rewards to Catalyst UI users and track user activities for loyalty scores.

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Updates 📰

• Obol Network launched a funding model for projects to promote the decentralization of Ethereum's consensus. Obol DV cluster users will contribute 1% of their staking rewards to Obol, which will then be used to reward projects and innovations that add value and drive impact at the Ethereum consensus layer.

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Issues 🚨

• Gala Games, a play-to-earn platform, was exploited for $22 million. The attacker sold a portion of the tokens he minted and later returned the rest after his wallet was frozen. After the exploit, DWF Labs revealed a 28 million purchase to “stabilize the token’s value” and a Gala blog post suggested a governance vote to decide if the 4.4 billion blocklisted GALA will be “considered burned.”

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Upcoming ⏳

• Jupiter kicks off the Giant Unified Market initiative to bring more assets, including memecoins, RWAs, stocks, or forex to Solana and index them on Jupiter. Jupiter has launched the GUM Alliance and will focus on asset onboarding and market integrations in the next few months.

• Sei V2 proposal is live voting. If it passes, the mainnet upgrade will be next Monday, May 27th. V2 will introduce a high-performance, parallelized EVM that boosts the network’s transaction processing speeds and overall throughput.

• Redacted Cartel proposed rebranding to Dinero Protocol as protocol products expanding. The DAO will replace the $BRTRFLY token with $DINERO with the future Dinero Protocol stablecoin being known as $pxUSD.

• Arbitrum will launch a vote for the Gaming Catalyst Program in two days. The proposal asks the DAO to earmark 200m $ARB over three years to expand the gaming ecosystem on Arbitrum.

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Airdrops 🪂

• Equation V3 is live, allowing users to trade perps with 0 trading fees + 150x leverage.

  • Equation’s Weekly Trading Competition & Profit Rate Mining are also live.

  • Traders ranking in the top 10 on the profit rate leaderboard will receive USDT prizes, and extra rewards for ranking in the top 3 (1st $2000, 2nd $1000, 3rd $500)

  • Today in DeFi is supported in part by Equation

• deBridge, a cross-chain protocol, introduced its $DBR governance token and the distribution details. $DBR holders will be able to stake their tokens to participate in DAO governance.

• Infinex launched the Memecoin Crash game on Farcaster with a 1,000,000 GP prize pool. Users can claim free GP by liking & recasting.

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Farms 🧑🏻‍🌾

• Stake your GHO to earn ~40% APR from AAVE and Merit Program

  • Today in DeFi is supported in part by ACI

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