The decentralized finance (DeFi) space is constantly evolving, with new developments and updates happening every day. Today, we bring you a roundup of some of the latest happenings in the DeFi world.
QuickPerps Goes Live on Polygon zkEVM
QuickSwap, a decentralized exchange (DEX) on the Polygon network, has launched a new perpetual contract DEX called QuickPerps. QuickPerps allows traders to leverage trade six major cryptocurrencies – $MATIC, $ETH, $BTC, $USDC, $USDT, and $DAI – with up to 50x leverage. The DEX is built on Polygon’s zkEVM layer 2 scaling solution, which allows for faster transactions and lower gas fees.
Lyra Upgrade on Optimism
Lyra, a decentralized options trading platform, has launched an improved version of its protocol on the Optimism network. The upgraded protocol uses SNX V2 perpetual futures as a liquidity source to delta hedge the option Market Maker Vaults (MMVs). This helps to improve the capital efficiency of the protocol, increase the percentage of fees returned to Liquidity Providers (LPs), and support more assets for traders.
Vote on Protocol Fees
The SushiSwap community is currently voting on a proposal to change the protocol fee structure. The proposal suggests increasing the current 0.05% fee on trades to 0.3%, with 0.25% going to LPs and 0.05% going to the SushiSwap treasury. The proposal has caused some division within the community, with some arguing that it will harm small LPs, while others believe it is necessary to fund development and protocol improvements.
EUROC Stablecoin Goes Live on Avalanche
A new Euro-pegged stablecoin called EUROC has been launched natively on the Avalanche network. The stablecoin is backed by Circle, a leading US dollar-pegged stablecoin issuer. EUROC aims to provide an alternative to other European stablecoins and offer users a cheaper and more efficient way to transfer Euros.
Ava Labs, the blockchain platform behind the Avalanche network, has launched AvaCloud, a no-code launchpad for deploying customizable blockchains. The launch also comes with a team of implementation and business experts that offer consulting services to help businesses and developers build their own blockchains. AvaCloud aims to streamline the process of building and deploying blockchains, making it more accessible to everyone.
Celer Fixes Vulnerability
Celer Network, a layer 2 scaling platform for Ethereum, has fixed a vulnerability in its State Guardian Network (SGN), which is used for securely authorizing transactions between different networks. The vulnerability was discovered by Jump Crypto, a blockchain security firm. Celer deployed a code patch to fix the issue and said it would propose funding a bug bounty grant to Jump Crypto.
In conclusion, the DeFi space is constantly evolving, with new products and updates being launched every day. QuickPerps on Polygon, Lyra upgrade on Optimism, EUROC stablecoin on Avalanche, AvaCloud launch, and Celer vulnerability fix are just a few examples of the latest developments in the DeFi world. As the space continues to mature, we can expect more exciting developments in the future.