📈Synthetix Launches Perps V3 on Base

The Defiant

The Defiant Daily

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✍️ In today’s newsletter:

  • Synthetix launches perpetuals on Base
  • takes aim at liquid staking leaders with 'deVamp'
  • Experienced blockchain developers are sticking around: Electric Capital report
  • NFT-focused RARI Chain launches its mainnet
  • Telefonica and Nova Labs introduce Helium mobile hotspots in Mexico
  • Polygon-based Volmex Finance kicks off points program

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📈 Markets in last 24 hrs:

BTC$39,833 0.83%
ETH$2,242 -2.84%
S&P 500$4,869 0.08%
GOLD$2,014 -0.48%
Arch WEB31.16pts +2.24%
FINANCE1.11pts 3.19%
INFRA1.35pts 1.11%
CONSUMER1.29pts 2.19%
Arch WEB3

Learn more about Arch Indices here.


Check out our interview with the popular crypto trader and commentator, Fiskantes, to get his take on the recent bullish market momentum. Also watch our podcast with Mustafa Al-Bassam, CEO and Co-Founder of Celestia Labs, to learn more about modular blockchain architecture and data availability.


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Layer 2

Synthetix Launches Perpetuals On Base

TLDR Synthetix has launched a perpetuals exchange on Base, an Ethereum Layer 2 network by Coinbase, allowing traders to use USDC as collateral, a shift from its previous sUSD-only model.

SO WHAT This launch broadens Synthetix's appeal by incorporating a widely-used stablecoin, potentially attracting more users. Base will be the project’s second Layer 2 deployment after Optimism.

READ MORE: Synthetix Launches Perpetuals On Base


EtherFi Kicks Off EigenLayer Vampire Attack

TLDR EtherFi has launched 'deVamp', a feature allowing users to quickly swap existing Eigenlayer deposits (like Lido’s stETH, Coinbase’s cbETH, and Binance’s wBETH) for its eETH liquid restaking token, with added incentives like loyalty points and fee exemptions.

SO WHAT This move by EtherFi provides users with more flexibility and incentives for EigenLayer restaking, potentially reshaping staking behaviors and liquidity in the Ethereum ecosystem.

READ MORE: EtherFi Kicks Off EigenLayer Vampire Attack

Crypto Jobs

Electric Capital’s Shen Says More Committed Crypto Developers Are Sticking Around

TLDR Maria Shen, a partner at Electric Capital, highlighted the steady increase in blockchain developers joining the crypto industry, despite volatile markets. Key insights from the latest Developers Report include:

  1. Growth of Experienced Developers: There's a 16% increase in blockchain developers with over a year of experience.
  2. Drop in Overall Developers: The total number of developers decreased by 24% in 2023, possibly due to the decline in crypto prices and industry setbacks like the FTX bankruptcy.
  3. Geographic Shift: There's a notable move away from a U.S.-centric developer ecosystem.

READ MORE: Electric Capital’s Shen Says More Committed Crypto Developers Are Sticking Around


Shell Protocol has launched its stakeable SHELL governance token. Airdrop recipients can check their eligibility through the Shell app. This token launch coincides with DeFi unifier Shell v3, which natively integrates Balancer and Curve pools in one single interface.

Shell aims to ultimately unify DeFi with a single app for NFTs and one-to-many swaps across every major protocol. Shell was created by Cowri Labs, a Hawaii-based DeFi development team, and has grown to a user base of 45,000.

Shell has received pushback from airdrop farmers for its sybil-resistant reward scheme. The SHELL token is currently trading through the Shell app. As for Cowri Labs, the team is already planning future integrations, with Uniswap and Aave on the near horizon.

Read More:


RARI Chain Launches Mainnet

TLDR RARI Chain, a Layer 3 blockchain optimized for NFTs, has launched its mainnet, offering features like embedded creator royalties and independent governance.

SO WHAT The integration with Rarible and the support for artists and developers through grants and a Creator Fund could enhance innovation and growth in the NFT space.

READ MORE: RARI Chain Launches Mainnet

Crypto Adoption

Telefonica and Nova Labs Launch Helium Mobile Hotspots in Mexico

TLDR Telefonica, a global telecom giant, is partnering with Nova Labs to deploy Helium mobile hotspots in Mexico, leveraging blockchain technology to enhance internet connectivity in underserved areas.

SO WHAT This collaboration represents a major step in reducing the digital divide in Mexico, offering decentralized and secure internet access. Additionally, the use of blockchain and incentivization through Helium could pave the way for innovative approaches to expanding internet coverage in other regions.

READ MORE: Telefonica and Nova Labs Launch Helium Mobile Hotspots in Mexico


Polygon-based Volmex Finance Launches Points Program

TLDR Volmex Finance has launched a points program to boost user engagement and awareness of its volatility indices and related crypto products.

READ MORE: Polygon-based Volmex Finance Launches Points Program



  • Many Retail Investors See Bitcoin Price Dropping Below $20K by Year End: Deutsche Bank (Coindesk)
  • Bruised by stock market, Chinese rush into banned bitcoin (Reuters)
  • Bitcoin Could Fall to $30,000 in 2024, Says Crypto Billionaire Arthur Hayes (CoinMarketCap)