DeFi Dev News 11/21 - OKX Launches zk-rollup, Optimism Canyon Coming , $300,000 bug bounty
Infrastructure
- OKX Launches X1 zk-Rollup
- zkLink Nexus L3
ZK infrastructure developer zkLink introduces zkLink Nexus, a layer-3 network that connects multiple popular Ethereum rollups, including zkSync, StarkNet, and Polygon zkEVM. - Ankr Rollup as a Service
Ankr launches Rollup as a Service in partnership With Optimism, allowing businesses and devs to customize and deploy dedicated OP Chains. Ankr will provide engineering, customization, node support, tooling, auditing, and other support for developers using their RaaS.
Mechanism
- Morpho Labs introduced AdaptiveCurveIRM, a next-generation immutable interest rate model that is highly efficient and flexible.
- LayerZero introduced ColorTrace, a practical implementation of the Colored coin problem - a way to associate "fungible" tokens with specific minters.
Tooling
- Optimism Canyon Upgrade Proposal
- OP Labs submitted a proposal to upgrade Optimism to Canyon, the first proposed network upgrade after Bedrock. Canyon contains the Shapella network upgrade from Ethereum, a change to reduce the volatility of the basefee, and several minor bug fixes.
- The Canyon upgrade will maintain EVM equivalence & improve the ergonomics of using the OP Stack for developers and end users. In addition, node operators will need to upgrade their nodes to stay in sync. Canyon brings the OP Stack protocol version to v4.0.0.
- If passed, Canyon will activate on Thu Jan 11 17:00:01 UTC 2024
- article
- Armada V2 on Solana
Solana-based Armada launches V2 SPL Token Staking and DeMUX. DeMUX allows for semi-automated protocol reward distribution, while SPL is a governance plugin that allows token holders to vote on DAO proposals while staking their tokens to receive rewards. - SSV DVT Staking API Coming
SSV partners with partners with P2P.org to introduce DVT Staking API for integrations of institutional staking services.- not yet live but coming soon
Bug Bounties
- PRINT3R is a gamified decentralized derivatives platform that focuses on ease of use and encouraging user loyalty through engaging user interactions, and sharing revenue.
- Smart contracts: $10,000-$50,000
- Website: $1,000-$2,250
- DeGate is an Order Book DEX Protocol powered by Zero Knowledge rollups
- Boosted Bounty from Nov 20-Dec4
- Smart Contracts:$50,000-$300,000
- Boosted Bounty from Nov 20-Dec4
- Arkham is a crypto intelligence platform that enables users to see the organizations and people behind crypto wallet addresses & learn about their activities.
- Smart Contracts: $5,000-20,000
- Website: $1,000-$20,000
- Aera Finance is a treasury management protocol that aims to address existing shortcomings with controlling treasury funds.
- Smart Contracts: $2,000-$120,000
Product Launches
- Phantom Cross-Chain Swapper
Phantom launches the Cross-Chain Swapper, allowing users to bridge tokens across Ethereum and Solana. - Dopex V2 Live
Dopex launches V2 with CLAMM officially available with Yield boosting & optimization for v3 LPs, and American-style options for traders. - Kamino Launches V2
- Solana-based lending Kamino launches v2 with a new UI, upgraded risk management, and new defi tools.
- Parcl V3 on Solana
Solana-based real estate trading protocol Parcl launches V3, enabling a perps dex with Cross-margined accounts, unified LP Pool, and enhanced LP protections. - IntentX Perp Dex on Base
IntentX launches an intent-based perp dex with over 180 perpetual markets on Base L2, providing a CEX-like trading experience. - Nocturne Privacy Live
Privacy protocol Nocturne has deployed its v1 on the Ethereum mainnet, introducing the concept of on-chain private accounts to Ethereum. - Ondo RWA Bridge Live
Ondo partners with Axelar to launch a bridge for Ondo RWA tokens, initially supporting bridging of native USDY between Ethereum and Mantle L2.
Hacks
- Dydx v3 Insurance Fund Lost $9M
dYdX v3 insurance fund lost $9 million, representing around 40% of its total, following liquidations in the Yearn Finance (YFI) market. - Woo X Pauses Trading
Kronos Research, Woo X primary LP, recently experienced a hack of its API keys that caused them to pause all trading on WOO X. Kronos' estimated loss is at ~$25 million. - Trader Joe Potential Exploit
Trader Joe identified a potential exploit in a 3rd party code used by its frontend. The team has fixed the issue and the frontend has been restored. - Butter Finance Canceled
Butter Fnance announces cancelation of the project as "contributors found the proposed veCAKE system & incentives model to be impractical for a path forward for Butter."
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