Today in the world of decentralized finance (DeFi), there have been several exciting developments and updates that are worth taking note of. From new protocol launches to regulatory news and upcoming events, the DeFi space continues to evolve and expand at a rapid pace.
One of the notable launches today was the unveiling of Poolshark on the Arbitrum mainnet, along with its token sale. Poolshark Protocol is an automated market maker (AMM) that enables directional LPing, providing users with a new way to participate in liquidity provision on the Arbitrum network.
Another significant launch came from Pike Finance, which has announced the launch of its testnet on Ethereum, Optimism, Arbitrum, and Base L2. Pike Finance is a cross-chain lending protocol that offers lending, leverage, and Earn services, and its expansion to multiple layer 2 solutions demonstrates its commitment to interoperability and scalability.
In terms of updates, Uniswap V3 has been deployed on the Bitcoin sidechain Rootstock, providing users with new opportunities to engage with the popular decentralized exchange on a different blockchain. Uniswap also rolled out updates for its Uniswap Wallet, including L2 swapping, automatic fee detection, swap protection, faster swaps, and support for new languages and currencies.
Polygon introduced Polygon Portal, an improved gateway to Polygon chains that supports unified user experience for bridging, third-party bridges, gas refueling, and developer tools, making it easier for users and developers to interact with the Polygon ecosystem.
On the regulatory front, US Senator Elizabeth Warren introduced an anti-crypto bill that has gained support. The bill aims to extend know-your-customer (KYC) requirements to network participants, including non-custodial wallet providers, miners, and validators, potentially impacting the DeFi space and its participants.
Looking ahead, Init Capital will launch a Liquidity Hook money market in January, providing new opportunities for dApps to build advanced strategies using liquidity on Init. Additionally, Trader Joe franchise Merchant Moe will launch on the Mantle L2, with JOE holders eligible for an airdrop of 2.5% of the total $MOE supply on launch, and a further 5% to be distributed over the next 12 months.
In the realm of farms, Lido launched a new round of wstETH incentives on Uniswap on Ethereum, Optimism, and Arbitrum, providing users with additional opportunities to earn rewards for providing liquidity. Notional also offers attractive yields for FRAX lending and leveraged farming, with APYs ranging from 11% to 62%.
Overall, today’s developments and updates in the DeFi space highlight the ongoing innovation and growth within the ecosystem, as well as the potential impact of regulatory developments on the industry. With new protocol launches, updates, and upcoming events, the DeFi space continues to offer exciting opportunities for users and investors alike.