Last Week in DeFi – Greyscale Ready to Convert GBTC, Arbitrum STIP Cutoff, Lido Simple DVT, zkSync txBridge Live, and More…
Last week in the world of decentralized finance, there were several significant developments and updates across various projects and platforms. Here’s a roundup of some of the key events that took place in the DeFi space:
Frax Finance launches sFRAX: Frax Finance introduced sFRAX, which allows users to stake their FRAX and earn Tbill yield on it, similar to DAI’s DSR, with a yield of approximately 10%.
Mars V2 live on Osmosis: Mars v2 went live on Osmosis with the Rover Credit Accounts available, enabling spot trading, margin trading, leveraged LPing, and lending for users.
IPOR V2 goes live: Lending IPOR launched V2, featuring new upgrades such as custom APRs with zaps, a stETH pool, 90-day swaps, a new architecture, and updated UX/UI.
Mountain USDM pool live on Curve: Mountain protocol’s USDM, the first regulated yield-bearing stablecoin, now has a crvUSD-USDM pool on Curve with a 5% APY.
esRDNT now live on Arbitrum: Radiant optimizer Radpie enabled trading for esRDNT on Camelot on Arbitrum, allowing RDNT holders to acquire esRDNT with a discount via DEX and redeem it back to RDNT in 3 months within Radpie.
zkSync txBridge now live: Powered by txFusion and txSync, txBridge is now live, allowing users to transfer funds between Ethereum and zkSync Networks.
Arbitrum STIP Cutoff: The Arbitrum Short-Term Incentive Program (STIP) votes ended with a cutoff on grantee projects, with 29 out of 97 applicants with the highest total votes set to be granted.
Lido SimpleDVT proposal: The Lido community proposed to approve the Simple DVT module, a new module that utilizes DVT on Ethereum via Obol Network and SSV Network implementations.
STRD Conversion Pauses: Stride’s proposal to convert STRD into ATOM did not garner sufficient support, leading core contributors to state that they will not actively push for the proposal at this time.
Platypus 2.2M Exploit: Platypus on Avalanche experienced a flash loan hack and lost 2.2 million, prompting the team to investigate and temporarily halt liquidity pools.
Tangible USDR Depeg: Tangible’s liquid DAI from the USDR treasury was redeemed, causing an accelerated drawdown in the market cap and leading to the USDR de-pegging.
Celestia Coming to the Interchain: Cosmos Interchain will support Celestia, and the modular blockchain Celestia team plans to reward IBC ecosystem builders and maintainers.
Radiant Ethereum Expansion: Radiant plans to launch on Ethereum and is excited about the growth in LST/RWA sectors.
In addition to these developments, Today in DeFi Premium offers early looks at promising projects, yield farming tips, and proper research to help users get the most out of DeFi. Premium subscribers also gain access to features such as on-chain limit orders and airdrops on new EVM chains.
Overall, last week was filled with significant updates and developments in the DeFi space, showcasing the continued growth and innovation in the decentralized finance sector.