Welcome to Weekly Roundup, where our team of experts selects buzzworthy pools, news, and announcements for you to have on your radar.

Weekly Roundup – 2.17

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Protocols can be a pain to keep up with – let us help. Our team finds the most interesting protocols and breaks down what you need to know and why they need to be on your radar. If tracking ever-changing protocol risks keep you up at night, you might opt for Optyfi.

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How Overnight differentiates itself from competitors

Yield-generating stablecoins and associated risks

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Binance continues to be the main character – BUSD stablecoin will slowly unwind.

 US regulators this week sued stablecoin issuer Paxos after determining BUSD stablecoin is an unregistered security. Paxos has subsequently ceased issuance of new BUSD on Ethereum (Binance issues all non-Ethereum BUSD). Binance previously decided in September 2022 to give preference to BUSD as a trading pair on its centralized exchange. This major shakeup of the third largest stablecoin presents an opportunity for a decentralized stablecoin to gain share.

Another DeFi protocol suffers a flashloan attack.

 Playtpus, a popular stableswap exchange on Avalanche, was exploited via a flashloan attack that cost the protocol $8.5M in potential losses. The exploit led the protocol’s stablecoin, Platypus USD (USP), to depeg over 50% and fall to $0.48. FWIW, we rated 

 a ‘Watch Out’ due to low maturity, anonymous team, and governance risks. Don’t say we didn’t warn you. 💁

DeFi keeps its game face on amidst regulatory headwinds.

 Among the oldest German industrial conglomerates, Siemens AG is one of the first major firms to issue a fully compliant digital bond. The 60M euro bond was sold directly on-chain to three investors on the Polygon network without the need for any intermediaries. The bond proceeds were collected through traditional banking channels. Siemens highlighted multiple benefits of the move, including the ability to “execute transaction significantly faster and more efficiently.”

Accredited investors will soon be able to invest in DeFi liquidity pools across major chains directly on our custodial platform.