The Defiant

👋 Lens Welcomes More Users Amid V2 Launch

The Defiant

DeFi Daily

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Lens, the social networking graph from Aave, said it will begin onboarding users at a faster rate ahead of its v2 migration next month. Lens v2 will open the protocol to greater third-party development, enabling external smart contract executions from within the protocol.

Plus, Spark Protocol is now live on Gnosis Chain. The deployment marks Spark's second deployment, with the protocol planning on launching on additional chains in the near future.

✍️ In today’s newsletter:

  • Lens ups onboarding and preps for v2 deployment
  • Spark Protocol live on Gnosis Chain

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DeFi

Lens Ups User Onboarding Ahead Of V2 Migration

TLDR Lens said it will begin onboarding new users at a higher volume. The move comes as Lens prepares to roll out its v2 iteration, which will support a wider developer ecosystem and external contract executions.

SO WHAT The news comes against the backdrop of SocialFi's success, with Friend Tech leading the charge for a new generation of social trading platforms. Lens is looking to facilitate interactions between its platform and "any type of web application."

READ MORE: Lens Ups User Onboarding Ahead Of V2 Migration


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Smart Contracts Now Live on Stellar Testnet

On Wednesday, September 20 at 1500 UTC, the Stellar Testnet successfully upgraded to Protocol 20, which introduces support for Soroban smart contracts. Developers worldwide can now access Soroban’s Turing-complete functionality to deploy and invoke DeFi protocols in a common, widely used sandbox environment.

The Stellar network has long been known for supporting connections to real-world financial infrastructure. With the Protocol 20 upgrade, the access those connections provide will combine with the innovation potential created by smart contracts to allow for something unique: cash to DeFi.

Many Stellar ecosystem projects are already poised to take advantage of the cash-to-DeFi opportunity. In a demo featured at Meridian, the annual Stellar conference, Beans, a user-friendly, consumer-facing Stellar network wallet, showed what it might look like to integrate with Blend, a Soroban-built lending protocol, to allow a user in Malawi to cash into a USDC balance via Moneygram and, in one click, deposit that balance into an interest-generating account. These types of interactions have the potential to open access to the next generation of financial infrastructure.

The Testnet upgrade is the last step before validators vote on a Mainnet upgrade, and if that vote goes through, the upgrade is immediate. The Stellar network will likely have smart contracts before the end of the year.


Lending

Spark Protocol Launches On Gnosis Chain

TLDR Spark, the DAI-focussed lending market and MakerDAO subDAO, is now live on Gnosis Chain, an Ethereum sidechain. The move follows the MakerDAO community greenlighting Spark's multi-chain expansion.

SO WHAT Spark has already amassed a $457M TVL on Ethereum, with Spark hoping multi-chain deployments will further expand its DeFi dominance.

READ MORE: Spark Protocol Launches On Gnosis Chain


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