• Compound suffers a potential governance attack.

• Maverick v2 goes live on Scroll.

• Aave launches a custom Lido pool.

• Base reaches a new peak in TPS activity.

Firefly is a one-stop Web3 social aggregator developed by Mask Network. Use one feed to connect with all users across Twitter, Lens, Farcaster, and all Web3 socials. Try it today at firefly.social.

A proposal to transfer 499k COMP tokens, worth $25 million, from the Compound treasury into a third-party controlled multi-signature wallet has narrowly passed with 51% approval. The proposal was led by Humpy, who is the leader of a gorup called the Golden Boys. As per the proposal, the tokens will be used in a DeFi vault named goldCOMP, aiming to generate yield for its depositors. The approval follows an initial failed attempt on May 6th. OpenZeppelin noted that a significant number of COMP token delegations, needed to pass the proposal, originated from recent exchange withdrawals. The approved vote not only takes substantial treasury funds but also gives the Golden Boys' significant control over COMP governance. In response, Compound governance has initiated precautionary measures, including transferring timelock admin rights and adjusting risk parameters to guard against potential governance attacks.

Maverick Protocol launched its V2 liquidity protocol on Scroll Mainnet, featuring code optimizations for gas efficiency and enhanced token rewards for stakers. The DEX supports custom liquidity ranges for tailored positioning. Maverick incorporates a Dynamic Distribution AMM that significantly improves capital efficiency. Maverick also introduces "boosted positions" that channel liquidity incentives directly to specific positions rather than distributing them across the entire pool. Users contributing liquidity on Maverick can earn Marks points from Scroll. The ZK Rollup now ranks as the 5th largest rollup by TVL, with $1.3 billion in assets.

Aave governance approved the deployment of a custom Lido stETH and wstETH pool on Aave V3, marking the first custom pool instance. The new market allows the Aave DAO to fine-tune collateralization and interest rate parameters within the isolated Lido market, accommodating for unique risk profiles. The pool supports stETH leverage loopers, e-mode, and an isolated market that minimizes cross-collateral risk from other tokens. The launch aims to increase liquidity and optimize borrowing dynamics, contributing to TVL. Lido’s liquid staking tokens currently constitute about 30% of the total Aave V3 Ethereum market. Lido plans to launch incentives for liquidity providers in the new market.

Base, the L2 rollup by Coinbase, achieved a new peak in transaction activity, averaging 50 transactions per second over the weekend. Data from Growthepie shows that Base saw over 665,000 daily active addresses on the network. Base also saw a new record of 650,000 active smart accounts over the last week. Base is the second largest rollup by TVL with $7.2 billion.

• Devcon second ticket wave

• Jonathan Mann sues the SEC

• DEX marketshare hits ATH

• Lido CSM reaches 200 nodes

• U.S. Gov. moves $2b Bitcoin

• Sen. Lummis Bitcoin reserve

• Trump remarks on Bitcoin

• Crypto becomes largest Super PAC

• Liquorice raises $1.2m

Follow us on X, Lens, and Farcaster.

• Compound suffers a potential governance attack.

• Maverick v2 goes live on Scroll.

• Aave launches a custom Lido pool.

• Base reaches a new peak in TPS activity.

Firefly is a one-stop Web3 social aggregator developed by Mask Network. Use one feed to connect with all users across Twitter, Lens, Farcaster, and all Web3 socials. Try it today at firefly.social.

A proposal to transfer 499k COMP tokens, worth $25 million, from the Compound treasury into a third-party controlled multi-signature wallet has narrowly passed with 51% approval. The proposal was led by Humpy, who is the leader of a gorup called the Golden Boys. As per the proposal, the tokens will be used in a DeFi vault named goldCOMP, aiming to generate yield for its depositors. The approval follows an initial failed attempt on May 6th. OpenZeppelin noted that a significant number of COMP token delegations, needed to pass the proposal, originated from recent exchange withdrawals. The approved vote not only takes substantial treasury funds but also gives the Golden Boys' significant control over COMP governance. In response, Compound governance has initiated precautionary measures, including transferring timelock admin rights and adjusting risk parameters to guard against potential governance attacks.

Maverick Protocol launched its V2 liquidity protocol on Scroll Mainnet, featuring code optimizations for gas efficiency and enhanced token rewards for stakers. The DEX supports custom liquidity ranges for tailored positioning. Maverick incorporates a Dynamic Distribution AMM that significantly improves capital efficiency. Maverick also introduces "boosted positions" that channel liquidity incentives directly to specific positions rather than distributing them across the entire pool. Users contributing liquidity on Maverick can earn Marks points from Scroll. The ZK Rollup now ranks as the 5th largest rollup by TVL, with $1.3 billion in assets.

Aave governance approved the deployment of a custom Lido stETH and wstETH pool on Aave V3, marking the first custom pool instance. The new market allows the Aave DAO to fine-tune collateralization and interest rate parameters within the isolated Lido market, accommodating for unique risk profiles. The pool supports stETH leverage loopers, e-mode, and an isolated market that minimizes cross-collateral risk from other tokens. The launch aims to increase liquidity and optimize borrowing dynamics, contributing to TVL. Lido’s liquid staking tokens currently constitute about 30% of the total Aave V3 Ethereum market. Lido plans to launch incentives for liquidity providers in the new market.

Base, the L2 rollup by Coinbase, achieved a new peak in transaction activity, averaging 50 transactions per second over the weekend. Data from Growthepie shows that Base saw over 665,000 daily active addresses on the network. Base also saw a new record of 650,000 active smart accounts over the last week. Base is the second largest rollup by TVL with $7.2 billion.

• Devcon second ticket wave

• Jonathan Mann sues the SEC

• DEX marketshare hits ATH

• Lido CSM reaches 200 nodes

• U.S. Gov. moves $2b Bitcoin

• Sen. Lummis Bitcoin reserve

• Trump remarks on Bitcoin

• Crypto becomes largest Super PAC

• Liquorice raises $1.2m

Follow us on X, Lens, and Farcaster.