Important DeFi News
A malicious proposal has taken over $TORN governance, draining $1M in governance funds. The attacker then submitted another proposal to fix the governance issue
A recent billing report filed by FTX’s CEO hinted that a potential “FTX 2.0” reboot is underway
After launching its mainnet, Pulse Chain's TVL quickly rose to $485M, just behind Avalanche
Blend now supports NFT loans for Pudgy Penguis, Redacted Remilio Babies, Kanpai Pandas, Otherdeeds, and Bored Ape Kennel Club, totaling 11 NFTs as collateral
Lybra Finance announced V2 plans, including expanding supported LSD collateral and making its first move cross-chain with Arbitrum
Swell, an Ethereum liquid staking protocol, went live and launched Swell Voyage to initiate their DAO
Balancer introduced Concentrated Liquidity, boosting liquidity positions customization and AMM efficiency
0x released Matcha Auto, an upgraded Matcha DEX aggregator offering faster swaps
Gravita Protocol, an LSDfi protocol, has enabled $GRAI minting using various LSDs and $bLUSD
$TOKE V2 was announced, introducing liquidity management pools, enhancing yield optimization across supported assets and DEXs
Brevis, a zkRollup data attestation platform, went live
Yearn vaults on $OP are set to receive a 25k $OP boost for 40 weeks
Shiba Inu's Puppynet testnet has reached over 10M transactions over the past week
STEPN, a Web3 Move-to-Earn App, integrated Apple Pay for in-game purchases
The Mangrove DEX has been launched on the Polygon testnet and is set to go live on the mainnet in June
Gearbox Protocol has launched V2.1, improving protocol security
Smilee Finance has announced V1.69, improving the impermanent gain options trading mechanics
Inverse Finance has updated $INV tokenomics, with $xINV now accruing a flow of APR in $DBR along with $INV rewards.
$KAVA's 13th mainnet is now live
Alchemix and Ramses Exchange formed a partnership, making Ramses the main liquidity hub for $alETH and $alUSD on Arbitrum
GMD announced the launch of their Launchpad service
Kujira launched PILOT, a new launchpad aiming at providing a fair solution for both the team and investors
NFTrade, an NFT marketplace, integrated with Rarimo to facilitate cross-chain NFT purchases across Ethereum, Polygon, BNB Chain, and Avalanche
Opside, an EVM-compatible ZK-rollup, launched its incentivized pre-alpha testnet
Quickperps, a decentralized perps trading platform, went live on Polygon zkEVM
Governance Proposals
Alchemix, a self-repaying loan protocol, is considering deploying on Arbitrum
Aura DAO, a veBAL wrapper, discusses a weighted voting system where votes on Aura Snapshot related to BIPs will proportionally reflect on Balancer
$AAVE seeks community input for V3 deployment on Base
$USH governance is gauging community interest in creating an ecosystem fund for $unshETH
Swell Network suggests onboarding swETH on unshETH, promising substantial rewards to the USH community
Synthetix founder proposes twelve initiatives to drive the project's next phase, including a 3:1 SNX split, followed by a buyback and 90M $SNX token burn
Origin Dollar governance is voting on the integration of Flux Finance’s fTokens as an $OUSD strategy
Uniswap is considering a potential deployment of V3 to Fantom Chain
Stargaze Zone votes on tokenomics update 2.0, aiming to reduce token inflation by 60% and total supply by 25%
Hop DAO proposes to reward 25% of the $HOP tokens saved from Sybil attackers to the Sybil hunters that assisted in preventing the attack
Next Week's Alpha
Hong Kong Securities Regulator will be accepting crypto exchange license applications starting June 1st
$OP is set to unlock 3.6% of total supply, or $247.4M, on May 30th
$AVAX is set to unlock 1.3% of total supply, or $134.8M, on May 28th
Arbitrum Odyssey 2.0 to go live soon, exploring 12 projects over 12 weeks
Coinbase-backed L2 Base is targeting mainnet launch upon successful Optimism Bedrock upgrade, that is scheduled for early June
Pepey NFT, an NFT by Perpy Finance, is set to launch on May 31st. NFT holders will enjoy fee discounts when trading on Perpy Finance
Penpie’s full launch and $PNP IDO on Camelot DEX will start early June
Yearn is considering launching a new Y-token
Inverse Finance is expected to increase utility to $INV, which will introduce reduced borrowing costs of $DOLA
BNB Chain is expected to undergo Luban Upgrade around 11th June, which will prevent block reversals and improve blockchain security
Gods Unchained is working on a mobile version of their game after Axie Infinity’s success with launching on Android and Apple devices
$RON is set to unlock 1.5% of total supply, or $14.4M, on May 27th
$HBAR is set to unlock 2.5% of total supply, or $65M, on June 1st
News
$BTC payments app Strike added support for $USDT, and is expanding to over 65 countries
The amount of staked ETH has risen by 4.4M since the Shapella upgrade back in April 12th
ConsenSys has clarified that MetaMask’s tax related terms of service, as it only applies to products and paid plans offered by ConsenSys and not on crypto transactions
A recent billing report filed by FTX’s current CEO has hinted that a potential “FTX 2.0” reboot is underway
Crypto wallet Ledger has delayed its key-recovery service after uproar from community
Ledger CEO has acknowledged that sharded wallet keys for users of its new Recover service could be shared with the government if subpoenaed
Cybersecurity firm Unciphered has claimed to have successfully hacked the Trezor T for its seed phrase through a hardware vulnerability
Sotheby’s has auctioned off part of 3AC’s NFT collection for $2.4M
Binance’s partner in Brazil Latam Gateway is approved to operate in Brazil
LedgerX, an options exchange, was acquired by MIAX
DF Fintoch, a crypto project claimed to be associated with Morgan Stanley, has exit scammed $32M in user funds. Morgan Stanley has issued a statement denying any association with it
$CFX, dubbed “Chinese Ethereum” is in the spotlight as Hong Kong opens up to retail crypto trading
Tornado Cash developer is facing money laundering charges in the Netherlands
U.S. Treasury sanctioned North Korean-owned Binance wallets
Solana has integrated AI into its blockchain and increased grant fund to $10M
Binance has launched their NFT lending space and started with $ETH loans
Bitpanda, a crypto trading and exchange platform, has partnered with Coinbase to help European banks offer crypto to customers
Fahrenheit, a crypto consortium, has won a bid to acquire insolvent crypto lender Celsius
Tenet partners with Conflux and Qtum to expand its presence in Chinese markets
Montenegro High Court annuls decision by lower court to release Do Kwon on bail
Black market demand for Worldcoin credentials has popped up in China, undermining the project’s fundamental purpose
Tweets of the Week
A thread on BitDAO and Mantle’s merger by Louround
A thread on Fantom's exposure to the Multichain Bridge by An Ape's Prologue
A thread on Curve’s new stablecoin and liquidation process by Dan Smith
A thread on the current LSDfi landscape by An Ape’s Prologue