Today in DeFi - Renzo REZ Token Launch & Season 2, Jupiter Acquired Ultimate Wallet, Cross Chain Protocol Magpie Exploited for 130K, Renzo ezETH Depegs, and more...

Updates 📰

• Jupiter Exchange, a Solana-based DEX aggregator, acquired a self-custody wallet firm Ultimate Wallet. The acquisition is part of the Jupiter Mobile Initiative, in which Jupiter Mobile beta will launch in May.

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Issues 🚨

• A depeg on Renzo’s ezETH was reported by both RedStone and Chainlink oracles. Leverage loopers on lending protocols such as Gearbox and Morpho Blue were liquidated when ezETH dropped over 15% (~$2700/ETH).

• Magpie, a cross-chain defi protocol, experienced an exploit and lost 129K from 221 wallets. A vulnerability was identified in the MagpieRouterV2 contract. According to the team, changes have been implemented to restrict further exploitation and a post-mortem will be published soon.

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Airdrops 🪂

• Renzo launched its REZ token with tokenomics released. Renzo ezPoints Season 1 will conclude on April 26th, and Season 1 eligible wallets will receive a 10% additional boost for Season 2.

• Safe introduced Safe{Pass}, an activity program that allows users to earn points for their Safe Smart Account activities. Users can also lock SAFE to boost points.

• Solv and Merlin L2 launched an incentive program to boost yields for Bitcoin holders on the Merlin Chain. 400M Solv Points and 2M $MERL tokens will be distributed and shared by solvBTC stakers on Merlin Chain.

• Dolomite launched Dolomite Minerals, a reward program that allows users to deposit ETH and USDC to earn minerals. An additional 0.5x multiplier on mineral earnings will stack weekly as long as the user’s balance is maintained.

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Farms 🧑🏻‍🌾

• Stake your GHO to earn AAVE and participate in the Merit Program (for the last round, participants got ~90% APY)

  • Today in DeFi is supported in part by ACI

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