Last week in DeFi saw a flurry of activity across the decentralized finance space, with significant launches, upgrades, and developments taking place in several different areas. Here are some of the top highlights from the past week:
Lido Protocol v2 Goes Live:
One of the most exciting developments in DeFi last week was the launch of the Lido Protocol v2, which allows ETH stakers to directly unstake their funds through the Lido.crvUSD interface. This upgrade also enables withdrawals and staking routers, among other features.
Curve Launches UI for crvUSD:
In another significant development, Curve launched the user interface for its crvUSD platform. For now, sfrxETH is supported as collateral with stETH coming next.
Kava 13:
Kava 13 went live last week, offering users faster transactions, greater security, and a new bridge that facilitates the transfer of assets from Cosmos to protocols across Kava.
Gravita Goes Live:
Gravita, a lending protocol for LSTs, is now available for users to borrow Gravita stablecoin GRAI using WETH, rETH, wstETH, or bLUSD as collateral.
Aevo Launches OTC Trading and Perpetual Futures:
Ribbon’s options protocol, Aevo, launched OTC trading and perpetual futures, allowing users to trade altcoin options p2p style and trade ETH options and perpetual contracts with up to 20x leverage.
Reserve Protocol Launches hyUSD:
Reserve Protocol launched hyUSD, a yield-bearing RToken backed by yield-bearing assets that provide exposure to fiat stablecoins and US treasuries through Convex and Flux Finance.
Origin Protocol Launches OETH:
Origin protocol launched Origin Ether (OETH), an ETH-based yield aggregator that allows users to deposit ETH, stETH, rETH, or frxETH to earn optimized yields on LSDs.
Asymmetry Launches safETH:
LSD protocol Asymmetry launched Safe Asymmetry Finance Ethereum (safETH), an index-style LSD derivative made up of rETH, sfrxETH, and wstETH.
X2Y2 Launches X2Y2 Fi and v3 Upgrade:
NFT marketplace X2Y2 launched X2Y2 Fi, a platform for NFT loans, and the v3 upgrade that improves the platform UX with new features such as Gasless Loan Offer Cancellation, Optimized Gas Expenditure, and Auto Refinance.
Loopring L2 Enables Block Trading:
Loopring L2 now enables Block Trading, allowing users to execute large orders and access centralized exchange liquidity directly from their self-custodial wallets.
Ripple Introduces CBDC Platform:
Ripple introduced its CBDC platform and is currently working with more than 20 countries on CBDC plans. Individual CBDC platform has features including Currency Issuer, Currency Operator, End User Wallets, and Ledger.
MetaMask Supports Lido Withdrawals:
MetaMask users can now stake and withdraw ETH from Lido and/or RocketPool directly from the MetaMask dApp.
In addition to these developments, there were also several notable approvals and transitions taking place in the DeFi space, such as the Rook DAO token governance transition, BitDAO brand optimization, and the sunset of veJOE on Trade Joe.
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