Welcome to the 164th issue of The Defiprime Post, a quick weekly primer covering the biggest developments around Ethereum and DeFi. This week’s issue covers events between October 1st and October 8th, 2023.
🔥 The DeFi Bulletin
- Stars Arena suffered an exploit, losing $2.9M in $AVAX tokens.
- The CFTC chair, Rostin Behnam, has turned his focus to getting ahead of DeFi.
- The IMF has floated a new crypto risk-assessment matrix in a new paper.
- Tokenized U.S. Treasuries have arrived on Base with Backed’s RWA token issuance.
- Polygon’s co-founder, Jaynti Kanani, has stepped down.
- Yuga Labs experienced layoffs and has refocused more on its metaverse extension amid restructuring.
- Chainalysis is idling 150 employees as crypto winter persists.
- Manifold Finance has rolled out an MEV auction protocol, with the project naming Frax’s founder and 0xMaki as advisors.
- Yield Protocol has announced its shutdown.
- Side Protocol integrated with Neutron as part of a partnership.
- Web3 funding is still down overall as the bear market continues to be in effect, with Wu Blockchain releasing its own report on VC funding.
- CMCC Global has raised $100M in funding, hoping to fund various Hong Kong-based crypto companies.
- Cicada secured $9.7M in pre-seed funding, with the project aiming to launch various lending products with the funds.
- Ostium Labs has closed a $3.5M funding round, with the project hoping to bring DEX perpetual swaps to oil and gold.
💱 DEX Report
- DEX volumes have slumped to their lowest levels since January 2021 over a period of six months.
- Bluefin’s latest version of its DEX went live on the Sui network.
Thanks for reading, and be sure to catch the 165th issue of The Defiprime Post out this time next week! 👋♦️👋