The latest developments in DeFi👇 Vitalik Buterin said Ethereum L1 will scale ~10x within a year AAVE’s Umbrella, a major upgrade that lets you stake yield-bearing tokens to earn extra rewards, went live Ethereum Foundation announced plans to sell less ETH and engage more with DeFi GMX introduced GMX Express - an upgrade that enables 1-click trading and paying gas fees in USDC. The upgrade went live on Arbitrum L2 and Avalanche Defi App announced the upcoming launch of its HOME token on June 10. DeFi App is a decentralized SuperApp that brings a CEX-like user experience on-chain Mezo, a Bitcoin-native DeFi layer, released its mainnet. Mezo allows earning yield and borrowing stablecoins using your BTC as collateral SOL Strategies, a company similar to Michael Saylor’s Strategy, announced plans to raise 1 billion to buy SOL Soul Protocol, an omnichain liquidity layer, raised ~6 million in funding InfiniFi, a first-of-its-kind on-chain fractional reserve system, went live. InfiniFi enables earning higher yields on stablecoins when locking them Resolv expanded to Hyperliquid’s HyperEVM L1 Ethena launched a savings account for USDe on Telegram’s TON blockchain, offering up to 18% APY on stablecoins Solv Protocol went live on Solana Solana introduced the Solana App Kit - a solution for building mobile apps on Solana in ~15 minutes Sonic announced its upcoming airdrop will be 25% liquid and 75% vested PumpFun is planning a 1 billion token sale at a 4 billion valuation Drift Protocol took the airdrop snapshot for its FUEL points program If you enjoyed reading this, a like and a retweet would be much appreciated🫡