Title: DeFiSaver Launches ETH Saver, Leveraged Staking in One Transaction
Introduction:
DeFiSaver recently released ETH Saver, a new website designed to make it convenient for users to participate in leveraged Ethereum staking. This non-custodial platform allows users to choose their preferred lending protocol and liquidity-sensitive debt (LSD), making it easy for users to engage in these strategies with just one transaction. In addition to this exciting development, there have been significant events in the DeFi space, including the FloorDAO rebase exploit, Aave’s new switch debt feature, Coinbase’s temporary block production halt, Frax Core’s proposed sFRAX, and Hxro’s launch of Zero Day Futures.
DeFiSaver’s ETH Saver Enables Leveraged Eth Staking:
DeFiSaver’s newly introduced ETH Saver platform allows users to actively participate in leveraged Ethereum staking with the convenience of a single transaction. This non-custodial platform offers users the freedom to select their preferred lending protocol and choose LSD according to their risk appetite.
FloorDAO Exploit and Redevelopment Efforts:
FloorDAO, an NFTFi project, recently faced an exploit involving its rebase mechanism. The hacker managed to withdraw 40 ETH from the DAO’s Protocol Owned Liquidity. Despite the setback, FloorDAO is actively taking control of the situation by redeploying FLOOR/WETH liquidity and working towards preventing future exploits.
Coinbase’s Temporary Block Production Halt:
Coinbase’s Base chain momentarily halted block production for approximately two hours. However, the issue has since been resolved, and the chain is now fully operational again. This temporary disruption reminds us of the challenges that arise in blockchain networks and the importance of promptly addressing such issues.
Aave Introduces Seamless Switch Borrow Position Feature:
Aave, the well-known decentralized lending protocol, has introduced a new feature that allows users to seamlessly switch their borrow positions. This functionality empowers users to switch debt in order to decrease their annual percentage rates (APRs). Additionally, Aave has also introduced the Withdraw and Switch feature, enabling users to effortlessly withdraw their positions and convert them into the asset of their choice.
Frax Core Proposes sFRAX to Enhance Staking Rewards:
Frax Core’s proposed sFRAX aims to enhance staking rewards for Frax holders. Similar to sDAI, sFRAX would enable users to stake their Frax and earn a fixed rate. The rate would be determined by frax governance to align with the Federal Reserve Interest on Reserve Deposit Rate (IORB) and to remain competitive with other real-world asset (RWA) offerings.
Hxro Launches Zero Day Futures on Solana:
Hxro, a derivatives exchange built on the Solana blockchain, has introduced Zero Day Futures. These futures contracts have a 25-hour expiry period, allowing traders to speculate on major cryptocurrencies or altcoins. At the end of each day, the contract settles into USDC, making it easier for market makers to provide liquidity for typically illiquid altcoins.
SSV’s Jato v2 Testnet Advances Towards Mainnet:
DVT protocol SSV has launched the Jato v2 testnet, bringing it one step closer to its mainnet release. The testnet serves as a significant milestone in the protocol’s development, showcasing its progress and readiness for the broader DeFi community.
Conclusion:
The DeFi space continues to witness notable advancements and developments. DeFiSaver’s ETH Saver platform offers users a convenient way to engage in leveraged staking strategies. However, it is essential to remain cautious and vigilant, as demonstrated by the FloorDAO rebase exploit. Aave’s new switch borrow position feature and Frax Core’s proposed sFRAX aim to provide users with enhanced options and increased rewards. Moreover, Hxro’s Zero Day Futures and SSV’s Jato v2 testnet further highlight the expanding landscape of innovative DeFi offerings.
