Today in DeFi, there have been several significant developments and launches in the world of decentralized finance. Let’s delve into the highlights from the past few days.
GMX, a popular decentralized protocol, has launched its V2 beta version on both Arbitrum and Avalanche. This upgrade brings numerous improvements and features to users, including the introduction of new markets, support for multiple collateral types, enhanced user experience (UX), low-fee swaps, and new incentives for liquidity providers (LPs).
Additionally, Base L2, a Layer 2 scaling solution, is now open for bridging. The mainnet launch of Base is scheduled for August 9th. Alongside this milestone, Base has announced the Onchain Summer campaign, where users will have the opportunity to mint NFTs from leading companies, further expanding the platform’s offerings.
Another notable development comes from AladdinDAO, which has launched f(x) protocol on Ethereum. f(x) protocol is a leveraged ETH protocol that allows users to supply ETH or stETH to mint stable ETH (fETH) or leveraged long ETH (xETH) tokens. This innovation caters to traders and investors looking to utilize leverage in their strategies.
Furthermore, Pika, a perpetual DEX, has completed its beta phase and is now fully launched on the OP mainnet. In conjunction with the launch, Pika has introduced a reward program to incentivize LPs, traders, and PIKA stakers. This program aims to attract liquidity and activity to the platform, fostering its growth and success.
Trader Joe, a decentralized exchange (DEX), has introduced on-chain limit orders on both Arbitrum and Avalanche. This feature empowers users to set up automated buy or sell orders that execute without any fees or price impact. This addition enhances the trading experience for users, making it more efficient and convenient.
On a different note, the Polygon Zero team recently published an article, highlighting concerns related to the release of Boojum, a proving system developed by Matter Labs. The article alleges that Boojum includes a substantial amount of source code that has been copy-pasted from performance-critical components of the Plonky2 library. The Polygon Zero team raises concerns about the lack of original copyrights and clear attribution to the original authors, i.e., themselves, emphasizing the importance of proper acknowledgment in the decentralized finance ecosystem.
In summary, the DeFi space continues to witness exciting developments and advancements, with projects like GMX, Base, f(x) protocol, Pika, and Trader Joe bringing new features, offerings, and opportunities to users. However, it is essential for projects to uphold best practices, including proper attribution, to maintain a transparent and collaborative environment.
