In the world of DeFi, the past week has seen a number of developments and updates across various platforms. Here’s a rundown of some of the major highlights:
Sushi Hacked
Sushiswap, the second largest DEX by volume, was exploited due to an approval bug and lost over $3.3m. The Sushi CEO suggested users revoke and check if their addresses are affected while the team is working on a refund solution.
Ribbon Aevo Live
Built by the Ribbon team, Aevo is an options AMM that currently allows users to trade ETH options across Daily, Weekly, Monthly, and Quarterly expiries.
MEV Blocker Live
Co-developed by CowSwap and 30+ projects, MEV Blocker is an RPC endpoint that can protect users from various types of MEV attacks, including front-running and sandwich attacks.
Trader Joe Liquidity Book v2.1 Live
Trader Joe’s LB v2.1 enables sJOE fee sharing, permissionless pool creation, optimized fees, and pool migration. Autopools and new order types are to be released at later dates.
LooksRare V2 Live
LooksRare V2 offers lower fees, cheaper gas, one-signature bulk listing, support for more NFTs, and seller payout in ETH.
Camelot V2 Live
Camelot rolls out the first stage of v2, enabling concentrated liquidity in the AMM. The next two stages will enable upgrades on UI and farms.
DebtDAO Live
DebtDAO is a marketplace for crypto credits that allows DAOs to use Revenue-Based Financing to borrow from future cash flows.
Sentiment Exploit
Sentiment was exploited and lost ~$1m in USD. The root cause of the exploit was a read-only reentrancy attack, which was used to manipulate the asset price. After negotiating with the attacker, ~90% of lost funds had been returned.
Temp Check: Return and Buyback ARB
The Arbitrum community is running a snapshot vote for AIP-1.05. The AIP proposes to return 700m ARB to the DAO, recover proceeds from the $10m dump, reveal Wintermute MM deal terms, and pause AIP 1.1 and 1.2.
Lyra Governance V2
Lyra has transitioned its governance to V2. V2 shifts from a representative council model to a fully autonomous on-chain system, that enables staking and delegation, and grants controls of treasury and developments to token holders.
Ethereum Shanghai Mainnet
The Shapella network upgrade (ETH Withdrawal) will activate on the Ethereum network at epoch 194048, scheduled for 22:27:35 UTC on Apr. 12, 2023.
Today in DeFi Premium includes early looks at promising projects, yield farming tips, and proper research to help you get the most out of DeFi. For example, last week they published features such as Project Upgrade and LSD Farm.
As with any rapidly changing industry, keeping up with developments in DeFi can be a daunting task. However, being aware of the latest trends and developments can help investors make informed decisions and maximize their returns.
