The world of decentralized finance (DeFi) saw several improvements, updates, and controversies last week. The most significant announcement was the launch of zkSync Era Mainnet Alpha, Ethereum’s Layer 2 scaling solution, which aims to provide greater scalability, support for EVM smart contracts, and native account abstraction. The team also plans to launch a token in approximately one year when the platform is ready to be decentralized.
In other news, NFT marketplace LooksRare launched an aggregator that integrates with OpenSea and supports bulk buys. Multichain NFT marketplace Magic Eden expanded its platform to allow users to trade Bitcoin NFTs without paying royalties. Fantom released fWallet, which offers features such as FTM delegation, governance proposal creation, and multichain bridging. Quasar, a Cosmos-based asset management protocol, went live on mainnet with support for Osmosis vaults. The protocol allows users to access Interchain DeFi by combining and automating various other Cosmos protocols.
Controversies also surfaced in the DeFi space with the arrest of Do Kwon, the key person behind Terra LUNA, after he was reportedly caught using falsified documents to evade capture. MakerDAO founder Rune clarified his endgame plan with three main focuses, while Sudoswap’s next iteration will introduce on-chain royalties and support ERC1155.
In regulatory news, Coinbase received a Wells notice from the Securities and Exchange Commission (SEC) regarding its listed digital assets, including staking service Coinbase Earn, Coinbase Prime, and Coinbase Wallet. Additionally, Sushiswap and its CEO Jared Grey were served with an SEC subpoena.
Furthermore, Polygon announced the release of the zkEVM mainnet beta on March 27, and Immutable X partnered with Polygon to create a new zkEVM chain dedicated to Web3 gaming powered by Polygon’s zkEVM tech.
Overall, the progress and controversies within the DeFi space show that it is still a rapidly evolving and exciting market, with new technologies and controversies emerging regularly. It is essential to stay informed and rely on proper research to get the most out of DeFi.