DeFi’s Biggest News This Week: Kyber Network Exploiter Demands Control, Chainlink Unveils Staking, Solana Airdrops
It’s been an action-packed week in the world of decentralized finance, from demands for control over the Kyber Network to exciting developments in staking on the Ethereum mainnet, and a flurry of upcoming airdrops on Solana. Let’s take a closer look at the highlights of the past week in DeFi.
Total Value Locked Continues Climbing Across Chains
The total value locked (TVL) across all chains continues to climb for the third consecutive week, as major cryptocurrencies push towards new yearly highs. Notable outperformers this week include BitDAO-backed L2, Mantle, and ConsenSys-backed zero-knowledge Ethereum Virtual Machine (zkEVM) chain, Linea, which saw significant increases in TVL.
Insights from Alpha Central
0xShual provides insights into evaluating on-chain trading behaviors, emphasizing the importance of monitoring top holders and liquidity providers, as well as the liquidity pool across V2 and V3. Additionally, Stacy delves into the decentralized Physical Infrastructure sector, known as DePIN, and its potential uses for uniting decentralized infrastructure through the token model.
Ethereum: Kyber Network Exploiter Demands Full Control
A major development in the Ethereum ecosystem this week was the release of a long list of extreme demands by the Kyber Network exploiter, including full control over the protocol.
Chainlink Unveils Chainlink Staking v0.2
On a positive note, the oracle protocol Chainlink officially deployed Chainlink Staking v0.2 on the Ethereum mainnet. The access to staking will open up in three phases, starting with existing v0.1 stakers migrating their positions, followed by Early Access users, and finally, General Access.
Other Product Launches and Updates
Stakewise unveiled Stakewise V3 on the Ethereum mainnet, introducing the ETH staking marketplace and osETH, Stakewise’s own liquid staking derivative (LSD) token. Several other product launches and updates were also announced, including exploits on Optimism liquidity hub, Velodrome, and a partnership between Quickswap and Steer Protocol.
Solana Airdrop Season in Full Swing
Dominant Solana liquid staking protocol, Jito, announced their upcoming token, JTO, and a retrospective airdrop. Additionally, the Solana DEX aggregator, Jupiter Exchange, released their airdrop checker for the first wave of their retrospective airdrop to users of the platform.
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.
As we wrap up another week in the fast-paced world of DeFi, it’s clear that innovation continues to drive the sector forward. Stay tuned for next week’s edition and keep supporting your favorite projects!
I have been a full-time professional writer for over 10 years, and have written for some of the biggest publications in the world. My work revolves around cryptocurrencies and blockchain technology, and I am widely considered to be one of the leading experts in these fields.I have written two books on the subject matter, and my articles have been featured in major news outlets such as The Wall Street Journal, Forbes, and Huffington Post. In addition to writing, I also give talks and seminars on cryptocurrency investing, and am a regular commentator on CNBC, Bloomberg, and other financial news networks.
