DeFi Weekly Roundup: Solana Airdrop Season in Full Swing
Kyber Network Exploiter Demands Full Control
The world of DeFi had a rollercoaster of a week, as several noteworthy events took place. The total value locked (TVL) across all chains continued its climb for the third week in a row as cryptocurrency majors pushed towards new yearly highs. BitDAO-backed L2, Mantle, and ConsenSys-backed zero-knowledge Ethereum Virtual Machine (zkEVM) chain, Linea, were notable outperformers, with increases of 35% and 25% in TVL respectively.
On-Chain Trading Analysis by 0xShual
0xShual shared insights into on-chain trading, offering guidance on how to analyze the behaviors of top holders and liquidity providers, and look at the liquidity pool and other key factors.
Exploring Decentralized Physical Infrastructure by Stacy
Stacy delved deep into DePIN (decentralized Physical Infrastructure) sector, discussing how crypto presents an interesting use case for uniting decentralized infrastructure together for a common cause using the token model.
Product Launches and Updates
Chainlink officially deployed Chainlink Staking v0.2 on the Ethereum mainnet, offering access to staking in three phases. ETH liquid staking protocol Stakewise introduced Stakewise V3 on the Ethereum mainnet, unveiling the ETH staking marketplace and osETH, a liquid staking derivative token.
Velodrome, an Optimism liquidity hub, and Aerodrome, a sister protocol on Base, were hit with a frontend exploit. Quickswap partnered up with Steer Protocol to bring V3 farms to Manta Pacific L2, while Cryptex Finance launched Pi, a cutting-edge on-chain perpetuals market.
Cosmos and Other Major Developments
Cosmos co-founder Jae Kwon proposed the forking of the Cosmos Hub after the passing of a recent Cosmos Hub proposal to curb emissions. DYdX chain went live with trading and trading rewards, and Cosmos-based L1, Sei, announced Sei V2 with the aim of bringing parallelization to the Ethereum Virtual Machine (EVM).
Airdrop Season in Solana
Jito, a dominant Solana liquid staking protocol, announced their upcoming token, JTO, and a retrospective airdrop of 100 million tokens. Jupiter Exchange, a Solana DEX aggregator, released their airdrop checker for the first wave of their retrospective airdrop to users.
Tweet of the Week
Collapsed crypto hedge fund Three Arrows Capital founder, Su Zhu, announced his return after being arrested in late September earlier this year.
The week brought a series of groundbreaking updates and developments in the world of DeFi, signifying the industry’s continued growth and innovation. Stay tuned for next week’s edition as we continue to keep you updated on your favorite projects.
I have been writing about crypto for over two years. I have a vast amount of experience in the industry and my work has been featured on some of the biggest publications in the space.
