What Happened on Feb. 7th｜Lido Releases Proposal for V2 Upgrade

DeFi

• Lido releases proposal for V2 upgrade, will introduce Staking Router architecture and unlock $stETH withdrawals.
• Lido will distribute $LDO rewards across Aave V3 liquidity pools on Ethereum, Arbitrum and Optimism.
• DebtDAO will burn $18M $FUD.
• CoW Swap was exploited, and over 110,000 $DAI was transferred from its contract address.
• Cow Swap: attacked settlement contract held 7 days worth of protocol fees, and users were unaffected.
• Mars Protocol enables lending and borrowing functions on the Osmosis chain.
• Decentralized omnichain stablecoin $D2O is live on Ethereum and Moonbeam.
• Cryptex Finance launches on Arbitrum with its new product - Total NFT Market Cap Token.
• Camelot DEX becomes the go-to launchpad for Arbitrum native projects.
• Factor DAO announced the public sale of its native token $FCTR on Arbitrum.
• Arthur Hayes is currently the largest individual holding address of $GMX.

CeFi

• FTX Japan updates asset holdings.
• Coinbase will list Axelar ($AXL).
• DCG reaches agreement in principle with Genesis Creditors to exchange $1.1 billion note for preferred stock.
• DCG is selling shares in Grayscale crypto trusts at discount, has raised $22M.
• Coinbase Share price rose 121% year-to-date due to market rebound and positive legal news.
• Kucoin will list Blur ($BLUR).
• Binance will suspend all transfers in US dollars starting on February 8th.
• Coinbase adds Voxies ($VOXEL) to its listing roadmap.

Infrastructure

• Cardano developer launches proof of concept EVM sidechain public testnet.

Policy & Regulation

• South Korean officials went to Serbia to hunt Do Kwon last week.
• SBF attorney has reached agreement with prosecutors, will allow SBF to use messaging app.

Fundings

• SPACE ID raises $10M in a strategic round led by Polychain Capital and dao5.
• DeFi structured protocol GammaSwap closed $1.7 million seed round led by Skycatcher.
• Elementus closes a $10 million Series A-2 funding round led by ParaFi Capital.