Uniswap: The Fee That Could Make You Go ‘Aw, Man!’

This past week, Uniswap, the darling of decentralized exchanges, announced it would be charging a 0.15% swap fee starting on October 17. For many, this news felt like biting into a chocolate chip cookie, only to discover it’s 95% raisin. Ouch! Affected tokens include ETH, USDC, wETH, and a few others—definitely a list to keep an eye on if you’re gearing up to make a trade.

Platypus Finance: Turning the Tide

In a twist worthy of a heist film, Platypus Finance announced it has successfully recovered 90% of the assets lost from an exploit. Imagine finding 90% of your wallet after losing it in the couch cushions! All they lost was around 18,000 Avalanche (AVAX) worth approximately $167,400. As the hacker returned the funds voluntarily, the team promised no legal action would be taken—talk about a case of “let’s just agree to disagree!”

Get Ready for the Scroll

Say hello to the new kid on the block: Scroll, which officially launched its zkEVM mainnet. According to their announcement, developers can now migrate their applications over seamlessly. It’s like moving into a new apartment where everything feels familiar, but somehow shinier! The team claims, “Everything functions right out of the box,” which is great since we all know how exhausting it can be to set up new tech.

Liquid Staking Takes Off

The LSDFi sector in Ethereum is experiencing unprecedented growth—up nearly 60 times since January! According to a report from CoinGecko, by August 2023, liquid staking derivatives accounted for a whopping 43.7% of all ETH staked. It seems like everyone is opting for staking rather than cashing out—perhaps they’ve embraced the mantra, “Hodl and Chill”? With Lido taking the lion’s share at almost a third of total staked ETH, that’s some neighborhoods of stakes you don’t want to miss.

Market Overview: Up and Down Like a Rollercoaster

Despite a bullish week in the DeFi sector, with most of the top 100 tokens trading positively, the total value locked (TVL) took a dip of nearly $2 billion, landing at $43.81 billion. It’s a classic case of emotional rollercoaster in finance—laugh one minute, cry the next!

Thanks for joining us on this wild ride through the world of DeFi developments. Tune in next week as we explore more exciting twists and turns in this ever-evolving domain!