Today in DeFi - Linear ℓUSD Exploit , Intents Based Dex, Perp trading without liquidation!?, and more...

Linear ℓUSD Exploit

Linear Finance was exploited and the attackers drained all ℓUSD liquidity on both PancakeSwap and Ascendex, resulting in the price of ℓUSD going to zero. Linear contracts are paused and the team works with security firms to track the attackers.

VMEX Live on Base

VMEX is now live on Base, allowing LPs to borrow and leverage their positions or earn yield by lending. VMEX is an over-collateralized lending protocol with an isolated pool structure.

Intents based Dex

Memswap is a token & NFT swap that uses intents & order flow auctions (OFAs) to provide better price execution and a mechanism to prevent MEV loss. Memswap is currently in demo mode.

Kwenta V2 Staking Live

Kwenta V2 staking is now live. V2 introduces new features including escrow transferability, 2-week staking cooldown, integrator contract support, and early vest fee distribution.

Vara L1 Live

Vara blockchain has launched its mainnet. Backed by Polkadot founder Gavin Wood, Vara is an L1 that uses the Actor Model and Persistent Memory to enhance speed and eliminate delays.

Perp Trading without price-based liquidations, and more…