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Last week saw Alchemist, Opium, and Ren Protocol launching new products, while Gitcoin and Ribbon announced tokens.
L2 solutions are making huge progress, as Arbitrum opened its mainnet for developers, and zkSync got on testnet.
In hacking news, Lending protocol WildCredit got impermanent-hacked, while BSC projects Belt and BurgerSwap both permanently lost millions to flash loan attacks.
Several projects also made upcoming announcements: Manifold announced gasless trading for Sushiswap, Hop Protocol is building fast Polygon to Ethereum withdrawals, USDC seems like it will be on Arbitrum, and Synthetix is launching Thales.
Sushiswap🍣
Today in DeFi is sponsored by Sushiswap.
Sushiswap is a DeFi-Native, multi-chain DEX which features the best liquidity across many DeFi pairs such as YFI, SNX, and AAVE.
You can swap DeFi pairs at Sushiswap, earn yield by farming, earn yield by lending, stake SUSHI for more SUSHI, or margin trade on Kashi
Sushiswap has also recently launched Liquidity Mining on Polygon. Find out more.
Launches🚀
Arbitrum Beta Live
Optimistic-based L2 platform Arbitrum mainnet beta is now open to developers.
MistX by Alchemist
Alchemist built MistX, a Dex which enables users to trade through flashbots to avoid front-running or sandwich attacks.
Gitcoin Governance Token
Open source builder platform Gitcoin launched governance token $GTC.
Opium Bridge Protection
Opium launched insurance for side-chain bridges, including Polygon, xDai, Anyswap, and pNetwork.
Bitcoin to Polygon Bridge by Ren
RenBridge now supports sending BTC, ZEC, BCH, and DOGE to Polygon.
zKSync Testnet Live
ZK Rollup-based L2 protocol zkSync launched on testnet with basic NFTs and ERC20 token swap features.
Ribbon Governance Token
Structure product protocol Ribbon launched governance token $RBN.
DeFi Grants
DeFi Grants launched to let developers easily apply to grants in one place.
Hacks👾
WildCredit White Hacked
WildCredit got hacked for ~637k. However, a white-hat attacker front-ran the real attacker and later returned all the hacked funds to WildCredit.
BSC Belt & BurgerSwap Hack
BSC projects Belt and BurgerSwap were subjective to flash loan attacks, with Belt losing ~13m and Burger losing 7.2m in funds.
Upcoming⏳
Sushiswap Gasless Trading
Manifold introduced YCabal as a layer one transaction aggregator, which makes gasless trading on Sushiswap possible.
Polygon to Ethereum Fast Withdrawal
Hop Protocol is building fast Polygon to Ethereum withdrawal feature. This lets cross chain transfers be done within minutes rather than hours or days.
USDC on Arbitrum
Coinbase is likely to support Arbitrum. (Arbitrum is now live on mainnet for developers)
UMA Opium SpaceX Insurance
UMA and Opium partnered up to offer SpaceX flight insurance. It will be launched as a derivative contract for risk management.
Thales
Synthetix is launching Thales, which will bring permission-less binary options to Ethereum.
Follow @todayindefi to keep up with the latest DeFi news on Twitter.
Disclaimer: Projects or tokens mentioned in this newsletter are often experimental or unaudited. Do your own diligence before using or buying anything mentioned.
