{"id":87230,"date":"2023-11-18T19:26:57","date_gmt":"2023-11-18T17:26:57","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=87230"},"modified":"2025-09-13T10:27:41","modified_gmt":"2025-09-13T07:27:41","slug":"defi-bulletin-aave-rebrands-and-opyn-founders-exit-the-industry","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/defi-bulletin-aave-rebrands-and-opyn-founders-exit-the-industry\/","title":{"rendered":"DeFi Bulletin: Aave rebrands, and Opyn founders exit the industry"},"content":{"rendered":"<p>The decentralized finance (DeFi) sector continues to attract heightened attention from crypto investors. ForkLog has compiled the most important DeFi events and news from the past weeks in this digest.<\/p>\n<h2 class=\"wp-block-heading\">Key metrics of the DeFi segment<\/h2>\n<p>Total value locked (TVL) in DeFi protocols rose to $45.3 billion. The leader remained Lido with $17.48 billion, while the second and third places were held by Maker ($8 billion) and JustLend ($5.87 billion), respectively.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-eu.googleusercontent.com\/cRa8v7yIy235ufnd7z4Uv50pskO1FBKtlwHeK3RKrcxRk2TBtshZnX0lVxQf-acmyJGz4DYyWLE36zDWYFLkhKhu3P-GE_rWbGPtB5rub8msCYA5XKGQywz4KungTmTBqS1p5_g3FS7jpUWJ2slfaAA\" alt=\"DeFi Bulletin: Aave rebrands, and Opyn founders exit the industry\"\/><figcaption class=\"wp-element-caption\">Data: <a href=\"https:\/\/defillama.com\/\">DeFi Llama<\/a>.<\/figcaption><\/figure>\n<p>TVL in Ethereum applications <a href=\"https:\/\/defillama.com\/chain\/Ethereum?tvl=true\">rose to<\/a> $24.55 billion. Trading volume on decentralized exchanges (DEX) over the last 30 days <a href=\"https:\/\/dune.com\/hagaetc\/dex-metrics\">stood at<\/a> $69.2 billion.<\/p>\n<p>Uniswap continues to dominate the non-custodial exchange market \u2014 accounting for 63.1% of seven-day volume. The second DEX by volume is PancakeSwap (14.1%), the third is Curve (3.85%).<\/p>\n<h2 class=\"wp-block-heading\">Aave Companies rebrands and acquires wallet developer Family<\/h2>\n<p>The team behind the Aave platform <a href=\"https:\/\/forklog.com\/en\/news\/aave-companies-rebrands-as-avara-and-acquires-wallet-developer-family\">conducted a rebranding<\/a>, changing its name to Avara.<\/p>\n<p>According to the announcement, Avara will become the parent organisation for Aave, Lens, the GHO stablecoin, Sonar and other brands.<\/p>\n<p>According to him, the Aave protocol will continue to operate under the same brand through Aave Labs.<\/p>\n<p>In addition to the rebrand, Avara announced the acquisition of wallet developer Los Feliz Engineering. Its founder Benji Taylor will join the team as Senior Vice President of Product and Design.<\/p>\n<p>Earlier this month the Aave team <a href=\"https:\/\/forklog.com\/en\/news\/aave-suspends-part-of-operations-after-vulnerability\">had to suspend<\/a> part of the protocol\u2019s operations after a vulnerability was discovered. The incident did not affect user funds.<\/p>\n<h2 class=\"wp-block-heading\">1inch Network launches portfolio-tracking service<\/h2>\n<p>The liquidity aggregator from decentralized exchanges 1inch Network introduced the 1inch Portfolio solution for tracking users\u2019 positions across various crypto assets.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">1\/ ? <a href=\"https:\/\/twitter.com\/hashtag\/Crypto?src=hash&#038;ref_src=twsrc%5Etfw\">#Crypto<\/a> tracking got too complicated?<\/p>\n<p>Meet the ? <a href=\"https:\/\/twitter.com\/hashtag\/1inchPortfolio?src=hash&#038;ref_src=twsrc%5Etfw\">#1inchPortfolio<\/a> \u2013 a super-tool that displays all your wallets on one screen.<\/p>\n<p>Simple, right?<\/p>\n<p>\u2705 Dive in at <a href=\"https:\/\/t.co\/H4s7vUZhhu\">https:\/\/t.co\/H4s7vUZhhu<\/a> and see how easy life can be when everything&#8217;s under one digital roof!<a href=\"https:\/\/twitter.com\/hashtag\/1inch?src=hash&#038;ref_src=twsrc%5Etfw\">#1inch<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/DeFi?src=hash&#038;ref_src=twsrc%5Etfw\">#DeFi<\/a> <a href=\"https:\/\/t.co\/kXWRe2kq41\">pic.twitter.com\/kXWRe2kq41<\/a><\/p>\n<p>\u2014 1inch Network (@1inch) <a href=\"https:\/\/twitter.com\/1inch\/status\/1725152350388584938?ref_src=twsrc%5Etfw\">November 16, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to the statement, the tool on one screen provides portfolio data and detailed analytics. Users can access information about crypto assets held in different wallets and pools across multiple networks without having to resort to several apps.<\/p>\n<h2 class=\"wp-block-heading\">Sushi to test its own DeFi Bitcoin swaps<\/h2>\n<p>DEX Sushi <a href=\"https:\/\/www.sushi.com\/blog\/sushi-partners-with-zetachain\">announced<\/a> a partnership with the interoperability-focused platform ZetaChain. It is envisaged that the integration will allow users to swap their Bitcoins across 30 networks.<\/p>\n<p>ZetaChain operates as a Layer 1 blockchain and a platform for developers. The protocol enables \u201ccost-efficient, efficient and secure\u201d cross-chain transactions thanks to Omnichain-supported smart contracts.<\/p>\n<p>One of ZetaChain&#8217;s features is support for the ZRC-20 standard. The solution is essentially an extended version of <a href=\"https:\/\/forklog.com\/en\/news\/what-are-erc-20-tokens\">ERC-20<\/a>, enabling deposit\/withdrawal of various assets across multiple interconnected networks.<\/p>\n<h2 class=\"wp-block-heading\">LidoDAO launches official version of wstETH on Base<\/h2>\n<p>The decentralized autonomous organization (<a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-dao-decentralised-autonomous-organisation\">DAO<\/a>) Lido approved the deployment of Wrapped Staked Ether (wstETH) derivative token <a href=\"https:\/\/forklog.com\/en\/news\/what-is-base-coinbases-l2\">on Base<\/a>.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Lido is on <a href=\"https:\/\/twitter.com\/BuildOnBase?ref_src=twsrc%5Etfw\">@BuildOnBase<\/a> ?<\/p>\n<p>You can now bridge your staked ETH to Base. <a href=\"https:\/\/t.co\/JmmFeVwNnN\">https:\/\/t.co\/JmmFeVwNnN<\/a> <a href=\"https:\/\/t.co\/R9vN2XGs2g\">pic.twitter.com\/R9vN2XGs2g<\/a><\/p>\n<p>\u2014 Lido (@LidoFinance) <a href=\"https:\/\/twitter.com\/LidoFinance\/status\/1722265297913336023?ref_src=twsrc%5Etfw\">November 8, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In October Kyberswap and Beefy Finance jointly launched an unofficial version of wstETH on the Coinbase-supported blockchain. The teams proposed that LidoDAO take over governance and ownership of the asset.<\/p>\n<p>The community approved the decision, with 597 million votes in favour and 255 million against.<\/p>\n<h2 class=\"wp-block-heading\">Opyn founders exit the crypto industry<\/h2>\n<p>The founders Zubin Koticha and Alexis Gauba <a href=\"https:\/\/forklog.com\/en\/news\/founders-of-opyn-defi-project-exit-the-crypto-industry\">made the decision to leave the crypto industry after regulatory measures against the project by the CFTC<\/a>.<\/p>\n<p>In September the regulator <a href=\"https:\/\/forklog.com\/en\/news\/cftc-files-lawsuits-against-three-defi-projects\">fined Opyn<\/a> $250,000 for unregistered trading of derivatives and operating without a license as a trading platform.<\/p>\n<p>According to Kotich, he and his partner entered the industry in 2017.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cLast six years we have been working on incredible things that would never have been possible in TradFi, innovations in structured products and derivatives. We thought we&#8217;d be in crypto for the rest of our lives. But, unfortunately and unexpectedly, this is the end of the road,\u201d he wrote.<\/p>\n<\/blockquote>\n<p>The project will continue to operate, and the post of CEO instead of Kotich at Opyn will be taken by the head of research Andrew Keone.<\/p>\n<p>Also on ForkLog:<\/p>\n<ul class=\"wp-block-list\">\n<li>dYdX Chain <a href=\"https:\/\/forklog.com\/en\/news\/dydx-chain-launches-beta-testing-on-33-markets\">launched<\/a> for beta testing on 33 markets.<\/li>\n<li>DEX-aggregator Jupiter <a href=\"https:\/\/forklog.com\/en\/news\/dex-aggregator-jupiter-to-distribute-an-airdrop-to-955000-solana-wallets\">will distribute an airdrop<\/a> among 955,000 Solana wallets.<\/li>\n<li>Experts noted <a href=\"https:\/\/forklog.com\/en\/news\/experts-note-rising-centralisation-in-the-defi-sector\">an increase in centralisation<\/a> in the DeFi sector.<\/li>\n<li>PancakeSwap <a href=\"https:\/\/forklog.com\/en\/news\/pancakeswap-launches-gaming-marketplace\">launched<\/a> a gaming marketplace.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>The DeFi sector continues to attract heightened attention from crypto investors. ForkLog has compiled the most important DeFi events and news from the past weeks in this digest.<\/p>\n","protected":false},"author":1,"featured_media":87231,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1299,1233],"class_list":["post-87230","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-defi-bulletin","tag-industry-digests"],"aioseo_notices":[],"amp_enabled":true,"views":"33","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/87230","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=87230"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/87230\/revisions"}],"predecessor-version":[{"id":87232,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/87230\/revisions\/87232"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/87231"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=87230"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=87230"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=87230"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}