Today in DeFi – CFTC Issues Orders Against DeFi Protocols, Aevo Trading Credit, High-Yield Leveraged Farming, and More…
The world of decentralized finance (DeFi) continues to evolve at a rapid pace, with new developments and regulations shaping the landscape. In recent news, the Commodity Futures Trading Commission (CFTC) has issued orders against three DeFi protocols for offering digital asset derivatives trading. The orders require Opyn, ZeroEx, and Deridex to pay civil monetary penalties and cease and desist from violating the Commodity Exchange Act and CFTC regulations.
Opyn has been ordered to pay a civil monetary penalty of $250,000, while ZeroEx and Deridex are required to pay $200,000 and $100,000, respectively. These penalties highlight the importance of complying with regulatory guidelines in the DeFi space, as authorities continue to monitor and enforce rules to protect investors and maintain market integrity.
In other news, Aevo, a decentralized exchange (DEX), has launched a referral program to incentivize new users. Under this program, any account that signs up with a referral link and deposits at least $100 will receive a $25 trading credit. Today in DeFi is proud to be a referral partner of Aevo, allowing our readers to take advantage of this offer. Simply use our referral link to receive $25 on your first deposit of $100 or above.
Additionally, LP management protocol Arrakis is set to launch Liquid Staking Token (LST) Vaults on September 8th at 14:00 UTC. These vaults are designed to provide market-making capabilities on Uniswap V3 for LST token market depth and risk management for LPs. LPs will have the opportunity to earn wstETH or OP in rewards through these vaults.
Cega, a structured investment protocol, has also made an announcement. They have launched the Eth Stakers Vault, which offers a fixed two-digit yield with a “4.79% probability of loss” and exposure to mainstream LSD tokens. This vault presents an interesting opportunity for investors looking for stable returns in the DeFi space.
In the realm of trading, Hyperliquid has introduced the ZRO-USD perpetual contracts, allowing users to go long or short on the value of the upcoming native LayerZero token, $ZRO. Leveraging these contracts, traders can speculate on the future value of $ZRO, providing them with additional trading opportunities.
Furthermore, the Osmosis community has voted in favor of Wormhole as a bridge service provider. Powered by the Wormhole Gateway, users can now bridge various tokens, including $SOL, $SUI, $APT, and $BONK, to Osmosis through the Portal interface. This enhancement expands the interoperability of the Osmosis network and opens up new possibilities for token transfers and usage.
In a collaborative effort, Coinbase and Framework have co-invested $5 million in Socket, an interoperability protocol. Socket aims to provide bridging solutions for developers and users of Coinbase Wallet and Base. This partnership will facilitate seamless connectivity between different blockchain networks, enabling users to transfer assets more efficiently.
Lastly, Ark Invest and 21shares have filed an application with the Securities and Exchange Commission (SEC) for a spot ether exchange-traded fund (ETF). This move reflects the growing interest in offering regulated investment products that track cryptocurrencies, providing investors with exposure to the digital asset market.
The DeFi space continues to experience significant growth and innovation, but it is important for participants to stay informed about regulatory developments and adhere to compliance guidelines. The recent CFTC orders serve as a reminder that regulatory oversight is expanding in the DeFi sector. As the ecosystem matures, it is crucial for market participants to collaborate and work alongside regulators to foster a safe and sustainable environment for all DeFi users.