Important DeFi News
Since the Shanghai Upgrade, LSDs saw a $500m inflow, with $FXS leading growth at 19% as it surpassed 160k $frxETH deposits, followed by Rocket Pool and Lido
Lens Protocol announced Bonsai, an Optimistic L3 scaling solution for decentralized social media that significantly improves scalability and reduces costs
Circle introduced the Cross-Chain Transfer Protocol on Ethereum and Avax, enhancing $USDC's cross-chain liquidity
The $GMX proposal to integrate Chainlink’s oracles in exchange for 1.2% of protocol fees has passed
Curve launched Tricrypto Next-Generation, offering ERC20 compatibility, lower transaction fees, and improved price oracles
The YIP-72 proposal to launch $yETH, a basket of LSDs, has passed with major support
Catalyst, a modular cross-chain liquidity protocol, was announced
LayerZero introduced Essence, reducing validator operational time to under an hour and enabling teams to scale their validator sets
Arbitrum DAO distributed 113M $ARB tokens to over 100 projects, but TridentDAO sold its entire allocation shortly after receiving it
GND, an Arbitrum fully-backed stablecoin protocol built on Uniswap V3, launched and quickly attracted $9M in TVL within two days
Kujira introduced GHOST, a money market tool enabling users to borrow $KUJI and $UST against each other
Gamma, a concentrated liquidity management protocol, broke the $110M mark in TVL
ether.fi announced Operation Solo Staker, a program providing 12 free staking machines to users worldwide who commit to running a node for three years.
Aptos introduced delegated staking to increase network participation
Tevaera, a zkSync Era gaming ecosystem protocol, launched its mainnet
Swell, a non-custodial liquid staking protocol, went live on the public mainnet
Cashmere Labs, an MEV Protected cross-chain swap protocol, launched its testnet
BetSwirl, a gambling protocol, went live on Arbitrum
Vertex Protocol, a Hybrid Orderbook-AMM DEX, went live on the Arbitrum mainnet
Radiant Capital added $ARB and $wstETH for lending and borrowing
The zkSync project Merlin DEX suffered a $2M rug pull after its liquidity pool was drained
0xAcid, an Arbitrum LSD protocol, introduced the $LSDoge meme token
Thetanuts Finance, a structured DeFi products protocol, raised $17M
Trust Wallet fixed a browser extension wallet creation vulnerability, reimbursing $170,000 to affected users
Governance Proposals
Synthetix aims to reduce fees for $BTC and $ETH, while increasing the maximum leverage for Open Interest to 50x
Optimism Collective has proposed a 6M $OP budget to support innovation
Lido is requesting $24.5M $DAI and 200k $LDO to outsource V2 development
Cryptex Finance has proposed incentivizing liquidity with a 37.5k $ARB airdrop allocation
Dope DAO is considering the launch of a debit card
Next Week's Alpha
Lido full withdrawals are expected to go live in early May
The $OP Bedrock Upgrade, featuring significantly reduced network fees and zero-knowledge proofs, is coming soon
$crvUSD is anticipated to launch soon, as recent test contract deployments and increased GitHub activity suggest
Binance is launching $BLUR perpetuals on April 28th with up to 20x leverage
Blur season 2 ends on May 1st, distributing over 300M $BLUR tokens to users
Optimism liquidity mining rewards are paused and will resume on May 3rd
Spark Protocol, $MKR's lending product, is expected to launch soon
Phantom is set to go multichain on Ethereum and Polygon on May 1st
Bybit will require mandatory KYC for all services starting in May
Sui Mainnet is launching on May 3rd, with initial trading taking place on OKX
Chronos, an Arbitrum DEX, launches at 3 PM UTC and partnered with PlutusDAO to provide liquidity for the plsRDNT/RDNT pair
$UNIDX is soon unveiling its revamped perpetual platform UI
News
Ethereum developers are now working on the next upgrade after Shapella: Cancun-Deneb
The European Union’s Markets in Crypto Assets (MiCA) regulation passed its final parliamentary hurdle this week
An Ethereum ICO participant awoke from 7.7 years of dormancy and transferred almost all of their $ETH to a new address
Institutional investments in $ETH staking increased post-Shanghai Upgrade
Visa is hiring software engineers for its crypto division as it develops products aimed at the space
Binance quietly lifted Visa and Mastercard deposit restrictions on Russian users after a year-long wartime prohibition
Movements from dormant whale wallets spook crypto users, including a $BTC whale wallet last active in 2012
Wrapped Bitcoin $cBTC went live on the Cardano testnet
Franklin Templeton expanded its $1.4T money market fund to Polygon
Gemini announced plans to launch a crypto derivatives platform outside the U.S., starting with a perpetual $BTC contract
Abu Dhabi Financial Free Zone proposed a legal framework for the decentralized economy
Zimbabwe plans to introduce Zim dollar, a gold-backed digital currency as legal tender
Hong Kong is set to reveal crypto license regulations in May
KuCoin’s Twitter handle was compromised for a short period, and any resulting losses were reimbursed
UniSat Wallet, a Chrome extension for Bitcoin Ordinals, was hit by double-spend attacks
The RR/BAYC NFTs were ruled to have violated Yuga's copyright
Blockchain infrastructure startup Cata Labs raised $4.2M
Crypto storage provider Zodia Custody raised $36M
Terra co-founder Daniel Shin and nine others were formally charged by South Korea
Tweets of the Week
10 days after Shanghai Upgrade by Tom Wan
The impact of Blur on the NFT ecosystem by foobar
Circle's Cross-Chain Transfer Protocol overview by Winter Solider
Perp Dex overview by @0xrelied
A comprehensive guide on yield strategies involving frxETH and sfrxETH by 0xShinChan
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