Last week in DeFi was an eventful one, with numerous launches, updates, and developments in the decentralized finance space. From new protocols and token launches to upgrades and integrations, the DeFi ecosystem continues to expand and evolve at a rapid pace. Here’s a look at some of the key highlights from last week in DeFi.
Lyra, a leading options protocol, made significant strides with the launch of Lyra Chain, an OP stack-powered L2 that provides high throughput and low-cost settlement of transactions. In addition, Lyra also kicked off the BTC PVP competition, allowing traders to earn PVPoints and win LYRA.
Meanwhile, Clearpool launched Clearpool Prime on OP Mainnet, a platform that enables whitelisted institutional borrowers to launch pools with tailored terms and invite similarly whitelisted lenders to participate. This move is poised to bridge the traditional private credit market and on-chain lending, boosting demands for CPOOL.
Another notable development was LayerZero’s launch of V2 on testnets, with the mainnet release scheduled for 2024. V2 is an upgrade that increases network throughput and liveness while making it easier for developers to build and integrate dApps with LayerZero. This update marks a significant step forward for the LayerZero ecosystem.
IntentX also made waves with the launch of Multiplier Points, which allow users to earn up to 35% extra points trading on the platform. This move is set to enhance the trading experience and incentivize user engagement on IntentX.
In addition to these launches and upgrades, several new projects and protocols made their debut last week. From testnet launches to token sales, the DeFi space saw a flurry of activity with the introduction of new platforms such as Pike Finance, Poolshark, Cronos Labs, and Eclipse, among others.
Furthermore, ongoing developments and updates were announced by established protocols and platforms. For instance, Synthetix revealed its plans to stop SNX inflation and test a new fee share and buyback model on Base L2, while Aave proposed to disable all flashloans on Aave V2 as part of the ongoing deprecation of V2.
On the regulatory front, US Senator Elizabeth Warren introduced an anti-crypto bill aimed at extending KYC requirements to network participants, including non-custodial wallet providers, miners, and validators. This development has gained support and underscores the evolving regulatory landscape for DeFi and cryptocurrencies.
Amidst these developments, the DeFi ecosystem also witnessed security-related incidents, such as the phishing scam involving a former Ledger employee and the subsequent exploitation of Ledger’s library on GitHub, leading to user losses. These incidents serve as a reminder of the importance of maintaining strict security measures in the DeFi space.
Overall, last week in DeFi was packed with new launches, upgrades, and regulatory developments, signaling the continued growth and maturation of the decentralized finance ecosystem. As the industry continues to evolve, it is essential for participants to stay informed about the latest developments and take appropriate precautions to navigate the dynamic DeFi landscape.