Today in DeFi - Maple Cuts Orthogonal, APE Staking Live, Lending on BnB Chain, and More...
Maple Cuts Orthogonal
![Twitter avatar for @maplefinance](https://substackcdn.com/image/twitter_name/w_96/maplefinance.jpg)
![](https://substackcdn.com/image/fetch/w_600,h_314,c_fill,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F5dbd9285-a2ea-471a-affb-a7ba97832ee7_1000x526.png)
Orthogonal Trading, a crypto firm that has funds stuck on FTX, and is also a significant borrower on lending protocol Maple Finance, has defaulted on eight loans totalling $36 million on Maple.
Creditor M11 Credit issued a default notice to Orthogonal for its loans, while Maple severed all ties with Orthogonal for misrepresenting its financial position.
APE Staking Live
![Twitter avatar for @HorizenLabs](https://substackcdn.com/image/twitter_name/w_96/HorizenLabs.jpg)
![](https://substackcdn.com/image/fetch/w_600,h_314,c_fill,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F85876a8b-5829-42e0-b24d-52788781e57c_2400x1254.jpeg)
APE staking is now open for deposits, and on the 12th rewards will start accruing.
Waves Power Protocol
Waves team announces Power Protocol, a new DAO governance architecture that will launch in January 2023 and will come with an airdrop of the protocol token POWER.
Aave Acquires Sonar
![Twitter avatar for @AaveAave](https://substackcdn.com/image/twitter_name/w_96/AaveAave.jpg)
![Twitter avatar for @LensProtocol](https://substackcdn.com/image/twitter_name/w_40/LensProtocol.jpg)
Aave has acquired Sonar, a mobile-focused metaverse project. Sonar will be integrated with Lens to improve the social experience with NFT trading & collecting.
Nostra Alpha Live on StarkNet
![Twitter avatar for @nostrafinance](https://substackcdn.com/image/twitter_name/w_96/nostrafinance.jpg)
![Image](https://substackcdn.com/video/upload/e_loop,vs_40/xgxln4nwxtkn07ybdxmp.gif)
Lending protocol Nostra launches alpha (with deposit limit) on StarkNet mainnet, enabling money markets with low tx costs on StarkNet.
Revert MATIC Incentives
![Twitter avatar for @revertfinance](https://substackcdn.com/image/twitter_name/w_96/revertfinance.jpg)
![Twitter avatar for @revertfinance](https://substackcdn.com/image/twitter_name/w_40/revertfinance.jpg)
LP management protocol Revert launches MATIC incentives for users using Revertβs auto-compounder on Polygon.
Intro to Venus Protocol
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