Last week in the world of decentralized finance (DeFi) was packed with exciting developments across various platforms and protocols. From new product launches to protocol upgrades and governance decisions, the DeFi ecosystem remained vibrant and dynamic. Here’s a round-up of some of the most significant events from last week in the world of DeFi:
Cosmos to Reduce ATOM Inflation:
The Cosmos governance approved Proposal #848, which aims to reduce the maximum inflation parameter for the native ATOM token from 20% to 10%. This decision will bring ATOM’s current inflation rate down to 10%, a move intended to benefit the Cosmos ecosystem.
TreasureDAO to Launch Treasure Chain:
The TreasureDAO team confirmed that they will launch Treasure Chain, a gaming chain that uses MAGIC as the gas token. This development represents an exciting step forward for the gaming and blockchain integration, providing new opportunities for users and developers alike.
Osmosis Halted for 2 Hours:
A bug in the Cosmos SDK caused a 2-hour pause to the Osmosis chain. However, the bug was swiftly fixed, and the chain is back live. Osmosis validators and node operators have been urged to upgrade to Osmosis v20.5.0 to prevent further disruptions.
Today in DeFi Cyber Monday Sale:
The Today in DeFi Premium subscription offered a limited-time 25% discount to provide early access to promising projects, yield farming tips, and in-depth research to help users make informed decisions and maximize their returns in the DeFi space.
New Product Launches and Upgrades:
Several DeFi protocols and platforms introduced new product launches and upgrades. These included RainFi on Solana, IOTX Liquid Staking with Bedrock, the full version release of Dyson DEX on Polygon zkEVM, the launch of LSTfi protocol Asymetrix V2, Deri V4 on Arbitrum, and Introduction of M2 by Movement.
Security Incidents and Exploits:
Unfortunately, last week also saw some security incidents and exploits in the DeFi space. KyberSwap Elastic experienced a security incident and reported a loss of approximately $47 million. Additionally, the HecoChain Bridge saw an outflow of 86.6M from a compromised operator, and the HTX exchange also reported an $110M exploit.
Governance Decisions and Proposals:
Governance decisions and proposals were also prominent in last week’s DeFi news. Nexus Mutual passed NMPIP 209, a proposal to launch a tokenomics upgrade, while Aave governance voted to increase the GHO borrow rate and dYdX governance considered activating Trading Rewards and the 6-Month Launch Incentive Program.
These are just a few highlights from last week in the world of DeFi, showcasing the ongoing innovation, governance activities, and market developments that continue to shape the decentralized finance ecosystem. As the industry continues to evolve, it is important for users to stay informed and seek out high-quality opportunities in the DeFi space.
For those interested in diving deeper and accessing exclusive insights, the Today in DeFi Premium subscription offers a discounted rate for a limited time, providing access to high-quality airdrop opportunities, high-yield farms, and best project picks. With the ever-changing landscape of DeFi, staying ahead of the curve is essential for those looking to maximize their potential in the dynamic world of decentralized finance.