Title: Today in DeFi – Introducing ZK Stack, WBTC & ETH Markets for crvUSD, Earn Fixed Rate on DAI, and more…
Introduction
The decentralized finance (DeFi) sector continues to witness exciting developments, with new projects and innovations pushing the boundaries of what is possible in the world of finance. In this edition of “Today in DeFi,” we highlight some of the most notable announcements and releases that are shaping the decentralized finance landscape.
1. Matter Labs Releases ZK Stack for Building ‘Hyperchains’
Matter Labs, a leading blockchain scaling solutions provider, has unveiled the ZK Stack, a powerful toolkit for building ‘Hyperchains.’ Developers can utilize Hyperchains to create Layer 2 solutions running parallel to the zkSync Era or Layer 3 solutions built on top of it. This innovative approach promises to enhance scalability and speed for Ethereum and other blockchain ecosystems.
2. Curve Launches WBTC and ETH Markets for crvUSD Borrowing
Curve, a popular decentralized exchange (DEX), has added WBTC and ETH markets for crvUSD borrowing to its platform. This move allows users to leverage their WBTC and ETH holdings to borrow crvUSD, providing greater flexibility and yield opportunities within the Curve ecosystem.
3. HSBC Hong Kong Becomes First Bank to Offer BTC and ETH ETFs
HSBC, the largest bank in Hong Kong, has become the first bank in the region to enable its customers to buy and sell BTC and ETH exchange-traded funds (ETFs) listed on the Hong Kong exchange. This development signifies a significant milestone in the adoption of cryptocurrencies within traditional financial institutions.
4. MakerDAO’s Lending Product Oasis.app Rebrands as Summer.fi
Oasis.app, the lending product launched by MakerDAO, has rebranded itself as Summer.fi. In addition to providing lending services, Summer.fi now operates as a DeFi automation platform, enabling users to automate various financial activities, further empowering users within the decentralized finance ecosystem.
5. Diva Launches Mainnet for Custom Derivative Financial Contracts
Diva, an infrastructure protocol enabling the creation and settlement of custom derivative financial contracts, has launched its mainnet. Available on Ethereum, Polygon, Gnosis, and Arbitrum, Diva offers users the ability to create and trade derivative assets in a peer-to-peer manner, expanding the possibilities within DeFi.
6. Neon EVM Beta Launches on Solana Mainnet
Neon EVM, an Ethereum Virtual Machine (EVM) compatibility project, has launched its closed beta on the Solana mainnet. Currently accessible only to whitelisted developers, Neon EVM aims to expand Ethereum decentralized applications (dApps) to the Solana blockchain. The project has also released an updated whitepaper, providing detailed insights into its plans for seamless cross-chain compatibility.
Conclusion
The developments within the DeFi space continue to push the boundaries of what is possible in the world of finance. The introduction of Matter Labs’ ZK Stack, the WBTC and ETH markets on Curve, and HSBC Hong Kong’s adoption of cryptocurrency ETFs highlight the increasing mainstream acceptance of decentralized finance.
Furthermore, the rebranding of Oasis.app to Summer.fi, the launch of Diva’s mainnet for custom derivative contracts, and the closed beta of Neon EVM on Solana underline the innovation and diversity present within the DeFi ecosystem.
As the decentralized finance landscape continues to evolve, we can anticipate even more ground-breaking developments in the near future, revolutionizing the way we interact with and access financial services.
