Important DeFi News
Lido V2 is now live, supporting $stETH withdrawals. In total, 450k $ETH has been withdrawn, with Celsius representing 95% as they exited their entire position
$crvUSD’s official UI is now live. Initially, it only supports $sfrxETH collateral and the fees generated by $crvUSD will accrue to $veCRV holders
ben.eth has raised approximately $7M for the $PSYOP token presale in just four days, after exiting his previous $BEN project to Bitboy. $PSYOP is expected to launch today, May 17th
PulseChain, an Ethereum fork, mainnet went live, along with the PulseChain Bridge
GND Protocol launched an OTC engine to facilitate swaps between $xGND and $GND, along with a buy-back mechanism for $xGND. Furthermore, they have introduced the Cash-Back Machine to incentivize the locking of $GND into $xGND
Cream and Manifold have partnered together to launch $MEV, a token that aims to capture MEV value. They are also developing a transition strategy for $crETH2 to their LSD product, $mevETH
$DOGE recorded a new all-time high in daily transactions of 645k following the deployment of DRC-20 tokens
unshETH, a DeFi protocol built on LSDs, went live on Arbitrum
Aevo, a DEX by Ribbon Finance, launched an OTC feature enabling altcoin options trading
Uniswap is set to deploy on Moonbeam following a successful governance vote
Blur introduced the ability to borrow against BAYC and MAYC NFTs on Blend
$NEAR is set to integrate Wormhole, facilitating ZK proof cross-chain transfers
Stargate Finance integrated Plexus to enable fast transfers and enhance cross-chain liquidity
Bitcoin Cash launched "CashTokens", a feature that enables the deployment of dApps directly on-chain
Atlendis Protocol V2 launched on Polygon, offering improved pool compliance for lenders
MantaDAO, an orderbook decentralized exchange, is preparing to launch on Kujira
Evmos released EVM Extensions, a feature that allows EVM dApps to integrate with the entire Cosmos ecosystem
El Dorado Exchange launched synthetic trading for the Binance Smart Chain and Arbitrum
Ankr is preparing to introduce its liquid staking solution to Tenet, a new Layer-1 protocol supported by a basket of LSDs
Stride, a Layer-1 network, is set to adopt Cosmos Interchain Security
Governance Proposals
Lido is in the discussion phase for the introduction of $LDO staking, which could enable 20 to 50% of revenue to be shared with stakers
MakerDAO is currently voting on a proposal to onboard $GNO as collateral on the Spark Protocol, which will facilitate a credit line directly to GnosisDAO
Ontology Network has proposed the deployment of Uniswap V3 on its EVM network
dYdX is proposing to increase decentralization by launching more subDAOs ahead of their V4 upgrade
Aave is discussing the possibility of converting its treasury $wETH holdings into $stETH and $rETH to improve the yield of the DAO at around 6.8% APR
Uniswap has proposed its deployment on Coinbase’s Layer 2 platform, Base
Synthetix is in discussions to add memecoins such as $PEPE and $FLOKI, among others, to its Perps V2 platform
Next Week's Alpha
$OP Bedrock mainnet upgrade is planned for June 6th. This upgrade promises improved security, reduced transaction fees, and an enhanced tech stack for developers
MetaMask is expected to facilitate direct staked $ETH withdrawals on both Lido and RocketPool
Kava, a Layer-1 blockchain, is scheduled to launch the Kava 13 mainnet on May 17th
Origin Protocol has launched $OETH, an $ETH vault yield optimizer that accepts $wETH, $stETH, $rETH, and $frxETH
Gains Network is set to revamp its fee structure on May 25th, which will remove funding fees, introduce borrowing fees, and lower rollover fees
Blur is expected to roll out a partial repayments feature for Blend in the coming week
GMX V2 is on the horizon, introducing synthetic assets
SushiSwap V3 is set to launch on Findora, a privacy-centric Layer-1 network
Swell Network, a liquid staking protocol, is rumoured to airdrop tokens to early stakers on May 24th
Arbitrum Odyssey 2.0, an incentivized activity program involving 12 projects, will launch soon
Matcha, a DEX aggregator, is preparing to launch an updated version of its dApp, promising enhanced swapping prices and a cleaner user interface
Neutron, a Layer-1 network, is slated to deploy on Cosmos before May 22nd. Its token generation event will go live 14 days after launch, during which 12% of the $NTRN supply will be distributed through airdrops and token pool emissions
News
US crypto firms are considering setting up in crypto-friendly Bermuda amid regulatory crackdown
Paradigm has purchased another $50M Coinbase shares, and is now holding a total of $274M Coinbase shares
Quadriga CX bankruptcy claimants are set to get $0.13 on the dollar
Bakkt, a crypto exchange, has delisted a number of DeFi tokens ($COMP, $MKR, $AAVE, and more) to align with recent regulatory guidance and industry developments
Binance is set to withdraw from the Canadian market
Do Kwon has been released from custody in Montenegro on a $435k bail
Jump Trading is facing A lawsuit over an alleged $1.3B profit gained from manipulating $UST
Tether has expressed its intention to invest up to 15% of profits to regularly purchase $BTC, diversifying away from US government debt
Axie Infinity's app is currently available in selected countries across Latin America and Southeast Asia on the Apple App Store. However, it was not launched in the Philippines, which is their largest user base
Lightning Labs has launched updates to solve $BTC congestion
European tax directives requires the reporting of all crypto asset transfers
Ledger has defended new crypto wallet recovery tool amid hostile reaction to latest upgrade
Disney has partnered with Cryptoys to launch first Star Wars NFT
BNB Chain is planning to adopt zk Rollup architecture to launch zkBNB, bringing improved modular scaling, faster transaction speeds and lowered gas fees
Bankrupt crypto lender Voyager’s customers may recover 35.7% of claims starting June 1st
The SEC has suggested that Filecoin is a security, causing $FIL token price to drop by 3%
Australia’s pilot CBDC program has marked the first successful foreign exchange transaction
$USDCissuer Circle has rotated $8.7B in reserve funds from Treasury bills to repurchase agreements
Binance Australia has suspended $AUD fiat services, citing issues with third party payment provider
Revolut, a crypto-friendly digital bank, is planning to obtain a license to operate in Australia