? DeFi apps targeted in apparent Squarespace DNS registry attack: Blockaid
Multiple decentralized finance (DeFi) apps were targeted in a domain registry attack on July 11, according to an X post from blockchain security platform Blockaid. The attacker has taken control of the DNS registry for Compound Finance and has attempted — but failed — to take control of Celer Network’s registry. After a preliminary investigation, Blockaid concluded that the attacker is targeting domain names provided by Squarespace, potentially putting any DeFi app with a Squarespace domain at risk.

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? Stellar Network Brings DeFi to the Unbanked With Smart Contract Platform
Banking the unbanked has been touted as one of the core use-cases of crypto since its inception—but the industry’s faced challenges in the form of high transaction fees and a lack of dedicated infrastructure. Launched earlier this year with the Protocol 20 update, the upgrade to the Stellar network introduces smart contracts into the Stellar ecosystem—and aims to bring the industry closer to its goal of becoming the digital financial rails for those without access to banks or other financial services.

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? Lyra Finance Offers Leveraged Exposure to ETH Through Ethena
Lyra Finance, a DeFi platform offering tokenized derivatives and yield, is offering an extra 2.5x on sUSDe yields when ETH rises via a partnership with Ethena. Users who deposit into Lyra’s new sUSDeBULL vault will be earning LDX Points from Lyra and Ethena Sats, while maintaining exposure to Lyra’s automated options strategy that is meant to increase yields as ETH goes up, and preserve yield when the ETH price chops.

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*? DeFi restaking protocol Symbiotic TVL Triples To $1B Within 24 Hours Of Raising Deposit Limits*
The TVL of Symbiotic, the upstart Ethereum restaking protocol seeking to challenge EigenLayer’s dominance, tripled in less than 24 hours to more than $1 billion after increasing its deposit limit. On July 3, Symbiotic raised its deposit cap from roughly 92,000 ETH, inspiring users to pile 232,028 ETH liquid staking tokens (LSTs) worth more than $700,000 into the protocol.

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? Pendle DeFi Faces TVL Drop, New Catalysts on the Horizon
Pendle DeFi’s Total Value Locked (TVL) has slumped dramatically. Pendle’s TVL was noted at $6.18 billion as of June 27, but it has dropped 42% to $3.6 billion since then. This article explores the causes of this notable drop, forthcoming Pendle catalysts, and the yet-unrealized possibilities in the protocol. Pendle’s TVL drop results mostly from maturation of some liquid restaking market pools on June 27. Many players left the point-farming game at this stage due to their disapproval of the approaching LRT airdrop.

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? DeFi Lender Liquity To Undergo “Friendly Fork” In V2 Upgrade
Liquity, a Decentralized Finance (DeFi) lender is prepared to undergo a “friendly fork” as part of its v2 upgrade. In a blog post, the protocol stated that it decided to go through the friendly fork after an intense reflection on the history of its v1. This review coupled with Liquity’s desire to take a more proactive approach with third-party deployment of its v2 upgrade. Ultimately, Liquity sees the possibility of having the v2 codebase as the preeminent solution for launching a collateralized onchain stablecoin.

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? Decentralized Finance Unlocks New Potential for Treasury TeamsDecentralized Finance (DeFi) is transforming the financial landscape, offering new opportunities for corporate treasury teams. By leveraging blockchain technology, DeFi enhances liquidity access, yield farming, and transparent cross-border transactions. Traditional financial systems often involve intermediaries, slowing transactions and increasing costs. DeFi eliminates these middlemen, enabling direct peer-to-peer transactions, reducing costs, and speeding up processes.

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? Andromeda & Injective Announce Strategic DeFi PartnershipAndromeda and Injective have announced a strategic partnership. The collaboration, revealed on June 27th, 2024, in Sigonella, Sicily, Italy, aims to accelerate DeFi adoption by combining the strengths of both platforms. Andromeda, known for its Web3 Operating System called aOS, is joining hands with Injective, a blockchain specifically designed for financial applications. This integration is expected to unlock new economic opportunities and use cases in the world of decentralized finance.

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? Bitflow launches liquidity hub to enhance Bitcoin DeFi functionalityBitflow has gone live with several new functionalities for its Bitcoin Layer 2 (L2) decentralized exchange (DEX). The company says the new features will help elevate Bitcoin DeFi (BTCFI) to a standard comparable to Ethereum’s mature DeFi ecosystem. The advancements in Bitflow’s Liquidity Hub upgrades the decentralized finance experience on Stacks, bridging the gap between Bitcoin and Ethereum DeFi functionalities.

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? 1inch partners with Blockaid to combat DeFi fraud and cyber threatsDecentralized finance (DeFi) platform 1inch announced a collaboration with Web3 security provider Blockaid to upgrade security measures within its ecosystem. On June 20, 1inch Network revealed its aim of identifying and preventing fraudulent activities like phishing scams and hacks. In an announcement, the DeFi platform highlighted that Blockaid’s security features, which simulate transactions before execution, will play an integral role in enhancing DeFi security.

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