HARVEST FINANCE YIELD FARMING UPDATE
Additionally, this update also grants additional esVELA rewards for the next 12 months to the first 30 million VLP minted.ĮTH LSD issuer, Unsheth, initiates plans to expand to Arbitrum after a successful community poll on Twitter. GMX-style perpetuals DEX, Vela Exchange, introduces Hyper VLP 2.0, allowing Hyper VLP participants from their beta launch to return to their original reward tier from during the beta. Rewards will begin accruing starting on 25th May and stakers of Sperax’s governance token, SPA, can vote to direct emissions to the new pools then. Lending protocol, Compound Finance, deploys Compound V3 on Arbitrum, opening up for ARB, GMX, WETH, and WBTC to be used as collateral to borrow USDCĪrbitrum-based money market protocol, Timeswap, relaunches USDC and ARB pools, offering fixed rates of 25% on ARB deposits and 15% on USDC deposits.Īrbitrum USDs issuer, Spearax, and Camelot DEX partner up to launch Spearax’s Demeter farms on Camelot. In the same week, they also released the tokenomics for the EQB token. Pendle Finance yield-booster, Equilibria announces their initial DEX offering (IDO), with the whitelist sale beginning 22nd May. Market makers run the backend on a CEX and on Loopring’s DEX to enable this feature. Aevo’s perpetuals trading was also launched in the same week giving traders ETH perpetuals with up to 20x leverage.īlock Trade goes live on the Loopring L2, giving users access to centralized exchange (CEX) liquidity but from the safety of their self-custodied wallet. In the current rotation, coins like SUI, PEPE and APT are available. On-chain options trading platform, Aevo, launches Aevo OTC enabling options with weekly, biweekly and monthly maturities, on the top 13 most popular coins for the month. L2s: Aevo on Fire With Back-to-Back Launches The current minting caps of $1.5 million have been hit for bLUSD, wstETH and rETH collaterals. Gravita Protocol reaches mainnet, enabling the GRAI stablecoin to be borrowed against WETH, ETH LSDs, rETH and wstETH, and bLUSD. The decentralized autonomous organization (DAO) behind the impermanent-loss (IL) protected liquidity pooling protocol, BancorDAO, has been served with class-action lawsuit over its IL protection claims, which the plaintiffs allege IL losses of almost 50% of their original investment during a period in June 2022. Multichain yield-farming protocol, Harvest Finance, releases Harvest V3, bringing a slew of improvements to the protocol, including allowing liquidity pooling with any token, a mobile-friendly interface, more supported farms and better liquidity pool position tracking. This token is stabilized by f(x) protocol’s other token, 圎TH, a zero-cost levered long ETH position to absorb the ETH price volatility. Currently, sfr圎TH is supported as collateral for crvUSD, with stETH in line to be supported next as collateral.ĪladdinDAO drops the whitepaper for f(x) Protocol, a decentralized product involving a low volatility “floating stablecoin” fETH, that changes in value by a fraction of ETH’s price movement.
The highly anticipated Curve Finance stablecoin, crvUSD frontend goes live, a week after the successful redeployment of the crvUSD contract. Stable asset protocol, Reserve protocol, launches high-yield USD (hyUSD), a high-yield savings product with an estimated 8% yield, obtained from Convex and Flux DeFi stablecoin liquidity pools. Top ETH LSD protocol, Lido Finance, launches Lido V2 after successful on-chain governance vote in the prior week, finally enabling the long awaited withdrawals of ETH from the platform.Ĭryptocurrency tumbler, Tornado Cash, suffers a governance attack over the week, with the bad actors granting themselves an overwhelming number of governance votes, through which they have drained the protocol’s staked TORN tokens. New Order DAO explores the game theory of memecoins, the meme cycle and the factors leading up to memecoin mania. The feature has divided the community, with many feeling betrayed by Ledger and others feeling the outrage is overblown.Īlex dives into the upcoming Litecoin halving which is slated to roll out in ~70 days, the psychology behind halvings and the need for Litecoin. Seth weighs in on hardware wallet, Ledger’s new feature: an opt-in feature which allows for seed phrase recovery. Welcome to Alpha Centralįlywheel DeFi covers all on upcoming updates and catalysts for stablecoin issuer, Frax Finance, including their upcoming governance upgrade, fr圎TH V2, Frax Educator Incentives Program and more. ZkSync Era and StarkNet saw healthy increases as well in the 15% range. Nevertheless, zero-knowledge Ethereum Virtual Machine (EVM) chains continue to see healthy growth, especially Polygon zkEVM which saw a 300% rise in TVL, likely due to airdrop rumors. Total value locked (TVL) across all chains remained largely flat as crypto markets crab along, with majors largely trading flat across the week.
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