Last week was full of exciting developments in the decentralized finance (DeFi) space. Here are some notable highlights:
InsurAce V2 Launches: InsurAce, a decentralized insurance protocol, launched its V2 version, introducing several new features such as veINSUR, NFT staking, a gauge mechanism, and new tokenomics.
Scroll L2 Mainnet Goes Live: Scroll, a native zkEVM L2 solution, produced the genesis block for its mainnet. It is now available for builders to develop and deploy applications on.
MEV Protocol by Manifold: Manifold launched the MEV Protocol on Ethereum, which allows for multiple winners per auction slot. The protocol will integrate mevETH, an LST (Liquid Staked Token) launched by Manifold.
Untangled Finance on Celo: After securing $13.5 million in funding, Untangled Finance went live on the Celo network. It aims to bring tokenized private credit onto the blockchain.
Perennial V2 on Arbitrum: Perennial, an Arbitrum-based derivatives automated market maker (AMM), released its V2 version. The update includes a faster oracle, cheaper fees, deeper liquidity, and improved risk management.
Armada on Solana: Token liquidity management protocol Armada went live on Solana. It provides tools for decentralized autonomous organizations (DAOs) to launch and manage token liquidity.
TProtocol’s USTP Stablecoin: TProtocol launched USTP, a stablecoin backed by US treasury yield. It offers three different types of stablecoins to cater to various investor needs.
VNX on Avalanche: RWA protocol VNX launched VEUR and VCHF on Avalanche. This allows users to access European fiat currencies on-chain.
Vertex Margin Manager: Arbitrum-based decentralized exchange (DEX) Vertex released Margin Manager, an all-in-one tool for managing cross-margin accounts and positions.
ShimmerEVM Chain: ShimmerEVM chain, a staging network for IOTA, went live to the public. Developers can now develop and implement their products on Shimmer before launching on the IOTA network.
These are just a few of the many exciting developments in the DeFi space last week. From new protocol launches to major updates and integrations, the DeFi ecosystem continues to evolve rapidly, bringing more innovative solutions and opportunities to its users.
