Biweekly update on the Ethereum DeFi ecosystem vol.69, 14th March — 28th March
$49B in DeFi, Aave Governance V3 introduced, Nexus Mutual V2 is live on Ethereum mainnnet, Balancer has reached Gnosis Chain, dYdX V4 milestone 3 is complete, dHEDGE to acquire mStable, and more
TL;DR
$49.2B in DeFi this week with Lido dominance 36.25%.
0x Protocol, a preview of what’s to come: A look at the exciting updates coming soon to the 0x Protocol — and what it means for the community. 0x at ETHDenver 2023: Highlights and Bounty Winners: It was an amazing and busy week for the 0x team at ETHDenver. Here’s a look back at what happened. A subgraph by 0x project is live on The Graph’s decentralized network. By using The Graph Network, 0x project can support dapps with consistent access to organized data in a robust, secure & decentralized way.
Lido’s plans for furthering the adoption of wstETH on Optimism are ready. Node Operator Community Call #5 is coming up. Lido on Polygon patch deployment has been successful and regular staking + withdrawal functionality has resumed as normal. Staking rewards collected over the previous 2 weeks have been distributed retroactively to stMATIC holders. Lido Dashboards Catalogue.
Nexus Mutual V2 is live on Ethereum mainnnet. Nexus Mutual V2 Feature Highlight: Cover and Staking NFTs: Two of the critical features entering users lives after the Nexus Mutual V2 update are Cover NFTs and Staking NFTs. Changes to the Nexus Mutual V2 UI. Nexus Mutual is now integrated with CoW Protocol. Community proposals of these weeks.
Latest Aave News: Aave Governance v3, Llama dashboard, Mean Finance, Sharpe Labs and more. After introducing it earlier in the week at ETHDubai, bgdlabs shared a detailed overview of Aave Governance V3. The next iteration of Aave governance includes a number of key improvements including cross chain voting, which makes participating in Aave governance much cheaper and more accessible. Further expanding the ability to participate, aAAVE and StkABPT holders will be eligible to vote. Aave Companies updated the main Aave front end with improved delegation features — check out the new features and share anything else you would like to see. Phase 1 of the rescue mission for locked Aave has been completed. Aave on Metis Andromeda.Aave V3 deployment on BNB Chain. Follow the Aave governance forum.
1inch Fusion Mode’s audit report by Decurity was completed. 1inch hit $5 billion in total volume on the Arbitrum network. Staking 1INCH and delegating Unicorn Power: a source of rewards. 13.4K $1INCH tokens have already been paid out under the staking migration program. DeFi derivatives: decentralized doors to advanced risk management. 1inch hit Paris Blockchain Week 2023.
Balancer has reached Gnosis Chain: karpatkey and Balancer are working together on bringing Balancer’s innovation to an original Ethereum sidechain with untapped potential. Backed by Gnosis DAO, a large LP on Balancer and significant holder of BAL & AURA, this expansion to Gnosis cements Balancer’s technology on a promising chain. Balancer introduces the 80/20 BPT Launchpad. Balancer’s 80/20 veTokenomics approach allows lockers to benefit from on-chain liquidity. Thanks to BIP-146, any protocol can now make the most out of this and leverage the many benefits 80/20 locking has for their own governance token. You can find a comprehensive overview here. The latest Balancer Report is here.
Gnosis Chain Weekly · 24 March: The team announced the arrival of EURe, an authorized and regulated euro token, on the Gnosis chain issued by Monerium. For the initial Layer3 quest, users will create a Safe using the Linen Wallet. Linen Wallet is a multi-chain wallet powered by Safe. Another big announcement for Gnosis Chain was the launch of the new boosted pools on Balancer. Check out the thread to learn how karpatkey folds into it all along with how to take advantage of the yields. Fractal’s DID technology is now on Gnosis Chain. Builders on Gnosis Chain can now access API3 data feeds. Subscribe to the Merge Newsletter for the most up-to-date information.
dYdX V4 milestone 3 is complete: The dYdX Private Testnet is set to begin on 3/28/2023 and will last 2–3 weeks. Milestones 4 and 5 will be focused on non-core-product features, including the process of adding or removing new trading pairs and IBC connections to other chains. Milestone 4 will include the launch of a fully-public testnet and an expanded number of validators testing out our product. This is projected to be completed by the end of July 2023. The completion of Milestone 5 will include the launch of mainnet, which will be available by the end of September 2023.
dHEDGE came out on top of the vote competing against 3 other protocols looking to acquire mStable. Check out mStable’s latest proposals here.
Uniswap v1.2 update: The team added a light/dark mode toggle to the Uniswap mobile wallet. ‘A Technical Overview of the Uniswap Mobile Wallet’ is out. Introducing Mini Portfolio — a new way to view your assets on the Uniswap Web App: See your tokens, NFTs, activity, LP Pools, and more when you connect to the Uniswap Web App with any wallet. An alternate use case for the fee switch was recently proposed on the Uniswap Governance forum. The latest Uniswap proposals are here.
New Synthetix Perps Market: ARB (Arbitrum): Synthetix announces the addition of ARB as the latest asset for leverage trading on Synthetix Perps. SNXweave Weekly Recap 81: March 22, 2023 The post contains a recap of news, projects, and important updates from the Spartan Council and Core Contributors, as well as the Grants Council and Ambassador Council from last week.
Taiko testnet is now live on Loopring smart wallet: The team is rolling out Multi-network support within Loopring Smart Wallet — starting with Taiko’s brand new alpha 2 testnet. Interact with the Taiko testnet from the comfort of your mobile phone — complete tasks + get rewarded with participation NFTs. As Loopring L2 continues to get a big influx of new users each week, please be sure to check out their knowledge base for all things Loopring L2.
Compound Proposals 154 ‘Resume cUSDC minting’ and 153 ‘Risk Parameter Updates for V2 and V3 WETH Comet’ have passed successfully. Proposal 155 ‘Certora <> Compound Formal Verification’ has been canceled. Find the latest Compound proposals here.
Permissionless Yearn Vaults: Yearn’s Vault Factory is a new way for anyone to create and register yield-generating yVaults through one simple interface quickly. It automates the deployment processes, making it easier for users to access ready-made yield strategies that can be applied to specific DeFi protocols. The factory allows users to deploy Yearn Vaults rapidly and set up risk-adjusted yield strategies with just a few clicks, plus the deployment process does not require any human involvement.
KyberSwap announces ARB token liquidity pools, liquidity mining and trading campaigns on Arbitrum. KNC Reimbursement For KyberDAO Voters. Find out all Kyber proposals here. Check them out on GitHub.
Coinbase Wallet as a Service public preview on testnet.
The Euler hacker returned 58,737 ether, a significant portion of the stolen funds.
SushiSwap recently unveiled a proposal to establish a legal defense fund, seeking $3M $USDT.
Update your Ethereum nodes ready for mainnet Shapella upgrade on April 12, ensure to update both your beacon node & validator client.
And more!
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