DeFi & L1L2 Weekly — 🔼 Hyperliquid commodity perps volume hit $14.6B last week, surpassing all cryptocurrencies except Bitcoin. The Ethereum Foundation unveiled a $1M Audit Subsidy Program.
Key Takeaways
· Hyperliquid commodity perpetuals trading volume reached $14.6 billion last week, surpassing all cryptocurrencies except for Bitcoin.
· The Ethereum Foundation unveiled a $1 million Audit Subsidy Program to lower audit costs for builders and improve the overall safety of the Ethereum ecosystem.
· Visa launched a validator node on Stripe’s Tempo blockchain.
· HSBC successfully completed a tokenized deposit pilot on the Canton Network.
· Polygon, Frax, and Curve launched on-chain foreign exchange (FX) liquidity pools to deepen FX liquidity in DeFi and expand the utility of non-USD stablecoins.
· Polygon launched its native liquid staking token, sPOL.
· Scroll moved to dissolve its Security Council and reduce DAO members to lower costs.
· World Liberty Financial (WLFI) borrowed $75 million in stablecoins against its own WLFI token on the Dolomite protocol, leading to liquidity concerns.
· Aave DAO (AAVE) voted to consolidate protocol revenue under the Aave token to streamline the treasury and align token value more closely with protocol growth.
· Morpho unveiled “Morpho Midnight,” a new protocol dedicated to fixed-rate lending.
· Kamino Finance (KMNO) implemented contract-level security controls for its lending vaults.
· Pyth Network is launching the Pyth Data Marketplace to provide institutional-grade data, challenging centralized data providers.
· Hyperbridge protocol paused operations for emergency upgrades after an attacker minted 1 billion bridged Polkadot (DOT) tokens on Ethereum, netting approximately $237,000.
