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---
git-date:
layout: [blog]
title: "The Defiprime Post #165: Your Weekly DeFi News in Bite-Sized Fashion"
permalink: post165
h1title: "The Defiprime Post #165: Your Weekly DeFi News in Bite-Sized Fashion"
pagetitle: "The Defiprime Post #165: Your Weekly DeFi News in Bite-Sized Fashion"
metadescription: "A quick weekly primer covering the biggest developments around Ethereum and DeFi. This week’s issue covers events between October 8th and October 15th, 2023"
category: blog
featured-image: /images/blog/post.png
intro: "This week’s issue covers events between October 8th and October 15th, 2023"
author: LimePierre
tags: ["The Defiprime Post"]
---

Welcome to the 165th issue of _The Defiprime Post_, a quick weekly primer covering the biggest developments around Ethereum and DeFi. This week’s issue covers events between October 8th and October 15th, 2023.

## 🔥 The DeFi Bulletin

* Stars Arena's hacker [returned 90% of the funds after the exploit.](https://www.theblock.co/post/256090/hacker-returns-90-of-stolen-funds-to-stars-arena-following-exploit)
* The SEC [appears to have no plans to appeal the Grayscale spot Bitcoin ETF.](https://www.theblock.co/post/256444/sec-doesnt-plan-to-appeal-court-ruling-on-grayscale-spot-bitcoin-etf-reuters)
* Lido Finance [faced a slashing penalty of more than $30K.](https://decrypt.co/201197/lido-finance-faces-slashing-penalty-30000-ethereum)
* The Ethereum L2 Scroll [went live on the mainnet.](https://www.theblock.co/post/256095/layer-2-zkevm-scroll-appears-to-have-gone-live-on-mainnet-500000-bridged-so-far)
* BarnBridge's DAO held a vote to [determine how to handle SEC regulations.](https://www.coindesk.com/business/2023/10/11/defi-protocol-barnbridge-prepares-for-sec-action-fines/)
* Blocknative [layed off a third of its workforce after the pause on its relay project.](https://www.coindesk.com/tech/2023/10/09/blocknative-reduces-headcount-by-third-after-suspending-work-on-relay-project/?utm_medium=social&utm_source=onecryptofeed&utm_campaign=headlines)
* ApeCoin DAO [proposed releasing a zk-Powered L2 chain.](https://forum.apecoin.com/t/aip-idea-apechain-a-zk-powered-polygon-layer-2-to-support-apecoin-growth/19308)
* Morpho Blue [seeks to upend lending by removing DAO bottlenecks](https://www.theblock.co/post/255639/morpho-blue-seeks-to-upend-decentralized-lending-by-removing-dao-bottlenecks).
* Out of the $40M of Arbitrum STIP grants, [GMX received the largest share, with 29 projects receiving some share total.](https://www.theblock.co/post/256282/gmx-receives-largest-share-of-40-million-arbitrum-grants-lido-misses-out)
* Account Labs, a project aiming to create a Google-enabled wallet, [secured $7.7M in funding.](https://decrypt.co/201204/account-labs-raises-7-7-million-new-google-enabled-crypto-wallet)
* Parsec, an on-chain analytics platform, [received $4M in funding.](https://www.theblock.co/post/255983/crypto-parsec-funding-uniswap-galaxy)
* Initia, an L1 project, [raised an undisclosed amount in funding.](https://www.theblock.co/post/256143/layer-1-project-initia-emerges-from-stealth-with-a-pre-seed-investment-from-binance-labs)


## 💵 State of the Stablecoins

* Native USDC tokens [have gone live on Polygon.](https://cointelegraph.com/news/circle-launches-usdc-tokens-on-polygon)
* $USDR [depegged, with the price crashing 50%.](https://www.theblock.co/post/255946/real-usd-usdr-stablecoin-depegs-and-price-crashes-by-50)


## 💱 DEX Report

* Trader Joe's, the grocery chain, [sued the DEX of the same name for copyright infringement.](https://blockworks.co/news/trader-joes-grocery-chain-sues-dex-of-the-same-name)

Thanks for reading, and be sure to catch the 166th issue of _The Defiprime Post_ out this time next week! 👋♦️👋

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