Post #317

📰#WeeklyRecap: 1. DeFi Updates: Yearn Finance announced two upgrades: yETH and Yearn Vaults V3. yETH, a liquid staking token aggregator, diversifies users' staked ETH across different liquid staking tokens, while Vaults V3 allows users to create their own vaults and strategies using Yearn's secure platform. 2. Surge Finance: The trend of oracle-free lending protocols continued with the launch of Surge Finance on Arbitrum. Surge creates a lending protocol that treats liquidations as a function of liquidity rather than price, offering protection against manipulated price oracles. 3. Blur Controversy: Blur, an NFT marketplace, faced criticism for allegedly contributing to the decline of blue-chip NFT collections. Critics claim Blur's feeless trading and token incentive scheme undermined creators' earnings and lowered asset prices. 4. Threads Social Platform: Meta launched Threads, a direct rival to Twitter. It allows Instagram users to import their social graphs and plans to integrate ActivityPub to enable communication with other applications, acknowledging the emergence of decentralized social networks. 5. Arweave Universal Data License (UDL): Arweave introduced UDL, a programmable and legally enforceable framework that enables creators to define their own terms and conditions for content uploaded to the permaweb. 6. Multichain Bridge Exploit: A vulnerability in the Multichain protocol, specifically within the Fantom and Moonriver Bridges, allowed substantial funds to be illicitly transferred, totaling ~$126 million. As a result, Multichain suspended its operations and urged users to revoke all contract approvals related to its service.