A lot of positives for DeFi and the broader web3 ecosystem this month.

The headline of course is the Ethereum ETF approval on 23rd May’24. Lending markets saw a growth of ~17% over the last month.

Binance also released a report on the breakthrough DeFi markets - a must-read!

Starting with the key leverage developments of the month:

• Aave released its 2030 roadmap, along with unveiling v4 plans. V4 is going to have multiple new features including a unified liquidity layer, fuzzy controlled interest rates, liquidity premiums, an upgraded borrow module, a new liquidation engine, along multiple more upgrades.

• Stani mentioned plans to launch the Aave network, soon after v4. Aave also proposed GHO cross-chain launch powered by Chainlink’s CCIP protocol, beginning with the first expansion on the Arbitrum network.

• MakerDAO announces NewStable and NewGovToken, which is another step toward their endgame roadmap. The team also announced SubDAOs, ​​specialized, self-governing teams focusing on specific business categories or services, playing a crucial role in growing DAI’s adoption.

• Morpho unveiled Morpho Blue’s public allocator, to provide borrowers with just-in-time liquidity by reallocating liquidity between markets. The team also proposed for Morpho to expand onto Base. This was soon followed by Morpho crossing the $500M borrowed milestone.

• B.protocol announced SmartLTV being live on Ethereum mainnet acting as an auto Allocator on Morpho flagship vaults, co-curated with the BlockAnalitica team.

• Ethena USDe integrated into Bybit. The team also unveiled its 2024 roadmap.

• Liquity released v2 whitepaper.

• Optimized lending protocol for redeemable assets proposal by 0xngmi.

• Euler kickstarted the largest security review competition for $1.25M on Cantina.

• Maple announced Syrup, promising 15% yields to DeFi users.

• Synthetic announced the transition to Synthetix V3 for scaling sUSD & migrating SNX.

Security Incidents

• Pike finance was exploited for 99,970.48 ARB, 64,126 OP, and 479.39 ETH, related to a USDC vulnerability. The team followed up with a detailed blog post and funds restitution.

• Sonne finance (Optimism) was exploited for $3M, with a known donation attack to Compound v2 forks. The team followed up by pausing all markets and announcing a 15% public bounty for information related to the attacker.

• Pump.fun was exploited by a former employee to misappropriate funds worth ~$1.9M.

• BlockTower Capital's main hedge fund 'partially drained' in attack.

Miscellaneous

• Coinbase announced the Tech Against Scams Coalition.

• Uniswap Foundation will initiate on-chain vote on May 31st to enable a fee mechanism.

• Eigen Foundation announced the intersubjectivity token and Stakedrop season 1.

• LayerZero snapshot taken.

• Debridge announced $DBR.

Regulatory

• SEC issues Robinhood Crypto with Wells notice.

• Uniswap shared its response to SEC’s Wells notice.