Today in the world of decentralized finance (DeFi), there are various developments and updates happening across different platforms. However, some concerning news has also surfaced, such as the pausing of some bridging routes on Multichain and rumors of the cofounder’s arrest in China along with an investor sell-off of its token.
According to reports, some bridging routes on Multichain, including Kava, zkSync, and Polygon zkEVM, are temporarily paused, causing some traders’ funds to be stuck on the bridges. While unconfirmed rumors of the cofounder’s arrest in China and an investor sell-off of its token are circulating, the team behind Multichain has only confirmed the network upgrade issue as the reason behind the pauses. They have promised compensation for the victims, but the time for service to resume remains unknown.
On a brighter note, 0x Labs has released the latest upgrade to the Matcha DEX aggregator, offering faster trade confirmations and reducing failed trades by 85%, with re-submission costs handled. This is good news for traders who can now experience faster and more efficient trades on Matcha.
In the world of NFTs, Magic Eden, an NFT marketplace, has enabled NFT aggregation on Solana, allowing users to create and manage NFTs on the platform more easily while increasing protocol composability and offering a -0.25% maker fee for a limited time.
Nolus, a Cosmos-based chain that offers interoperability, has launched its mainnet and will soon launch a leveraged lending protocol on the chain along with a token launch event on StreamSwap.
Lastly, Penumbra, a Cosmos-based appchain that focuses on privacy, has launched its testnet with its first dApp, a private concentrated-liquidity DEX, available. The platform aims to provide users with a private and secure trading experience without compromising on liquidity.
These are just some of the latest updates and developments in the world of DeFi. While there may be some concerns and challenges in certain areas, the overall growth and progress in this space continue to excite and inspire DeFi enthusiasts.