Key news of the week from the DeFi and L1 and L2 blockchains sectorsMarket analysts reported on the top cryptocurrency market news for the week as of March 15, 2023. Their report focused only on the decentralized finance (DeFi) sectors, as well as Level 1 and Level 2 (L1/L2) blockchains.
The researchers noted: the attention of the cryptocurrency community was riveted on the dress rehearsal of the Shanghai Etherium update, also known as Shapella. It took place on the Goerli test network. In addition, MakerDAO delegates voted in favor of a proposal to lower the debt ceiling, which allowed the organization to set upper limits for individual collateral.
Decentralized exchange dYdX also held a governance vote to reduce trading fees by 45%. The initiative aims to increase the number of token rewards of the protocol. It received more than 25 million votes in support.
Aptos blockchain launched its own bridge for non-interchangeable tokens (NFT) on Wormhole. This allowed users to seamlessly merge NFTs between the sought-after network and any of the supported chains. Sui blockchain developers Mysten Labs have signed an agreement with Alibaba Cloud. The partnership will provide archive node services and cloud infrastructure for Sui test network developers.
Lido Finance and Mixbytes have offered to close their liquid-stacking service on Polkadot and Kusama in early August 2023.
The developers of Hedera shut down the network services due to failures, the reasons for which have never been clarified. Decentralized lending platform Euler Finance suffered a hacking attack Tuesday. Users of the protocol lost about $197 million because of a vulnerability in a smart contract feature called donateToReserve. Developers disabled the module and tried to find the culprit.
