Title: Today in DeFi: Factor V2 Live on Arbitrum, Thena Alpha on BnB Chain, Delta-Neutral Options LPing, and More…
The decentralized finance (DeFi) space continues to witness exciting developments as new projects and updates hit the market. In today’s roundup, we will discuss the launch of Factor V2 on Arbitrum, the introduction of Thena Alpha on the BnB Chain, Connext’s xERC20 token standard, and important updates from the Solana-based lending protocol, Parrot.
Factor V2: Unleashing New Strategies on Arbitrum
Factor, an Arbitrum-based yield protocol, recently launched its V2 version with initial strategies for TradeJoe, Mux, and GMX vaults. This release brings additional flexibility and enhanced yield generation opportunities for users. Additionally, Factor has also introduced staking rewards for its users, allowing them to earn additional tokens by participating actively in the protocol.
Thena.fi Unveils Alpha Perp Trading Platform on BnB Chain
Thena.fi, a BnB Chain-based decentralized exchange, has launched its perp trading platform, Alpha. Currently in its early stages and accessible only for whitelisted addresses, Alpha supports trading for 100 assets with leverage of up to 40x and offers zero funding rates. This promising platform aims to provide traders with efficient and secure trading options.
Connext Introduces xERC20: Enhancing Cross-Chain Token Management
Connext, a leading cross-chain communication protocol, has unveiled the xERC20 token standard. This revolutionary standard empowers token issuers to manage bridges, set minting limits, and facilitate the minting of identical tokens across different chains. With enhanced interoperability and simplified token management, xERC20 can revolutionize DeFi ecosystems that rely on multiple blockchains.
Parrot’s Proposal for PRT Redemption and Protocol Governance
Solana-based lending protocol Parrot is currently voting on a crucial proposal that could enable PRT redemption and transition the protocol to a no-token model by nullifying the PRT token. Parrot raised over $80 million through its ICO in late 2021; however, investors are currently facing an ROI of -89%. The vote, which has garnered 99% support thus far, poses concerns about the protocol’s governance, as the team controls 81% of all tokens.
The DeFi landscape is ever-evolving, and today’s news showcases the ongoing progress within the industry. Factor’s V2 launch on Arbitrum brings expanded opportunities for yield generation, while Thena Alpha’s perp trading platform introduces innovative features for traders. Connext’s xERC20 token standard aims to enhance interoperability, and Parrot’s proposal for PRT redemption raises questions about protocol governance. These developments highlight the dynamic nature of the DeFi space and its continuous pursuit of novel solutions and advancements.