1. Hyperliquid Suffers $4 Million Loss in HLP Vault as High-Leverage Whale Position is Liquidated; Platform Reduces Leverage Limits link

On March 12th, the HLP Vault of Hyperliquid suffered a loss of over $4 million. The reason was that a whale took a long position in ETH with 50 — times leverage. The position was as high as $340 million and once had a floating profit of $8 million. After the whale partially closed the position, it withdrew $17.09 million in USDC margin, triggering the liquidation of the remaining 160,000 — ETH position. Due to the large liquidation volume, the HLP Vault took over the position at $1,915 and gradually closed it. It still has a floating loss of $4 million. Hyperliquid’s official response stated that this incident was not a vulnerability or a hacking attack, and it announced that the maximum leverage for BTC and ETH would be reduced to 40 times and 25 times, respectively.

2. Scroll Announces Upgrade to Stage 1 ZK-Rollup Expected in April link

Scroll tweeted that it is expected to upgrade to Stage 1 ZK — Rollup in April this year. This stage will support mandatory transactions, permissionless transaction submission, and complete zkEVM proofs. At the same time, a security committee composed of industry experts will be established. Previously, Ethereum co — founder Vitalik Buterin expressed his expectation to see more Layer — 2s enter Stage 1.

3. Offchain Labs Confirms Planned Buyback of ARB Tokens link

Offchain Labs, the R&D team of Arbitrum, has announced the launch of a strategic purchase plan. It will increase its holdings of ARB in the open market and through other trading methods to strengthen its long — term commitment to the Arbitrum ecosystem. The plan will be implemented step by step according to preset parameters.

4. Movement Public Mainnet Beta Officially Launches link

The Movement Network Foundation has announced the launch of the Movement Public Mainnet Beta. The MOVE token is the native Gas token of the Movement Network. In addition, according to the official roadmap, the fast — finality mechanism of the Movement Network is scheduled to be launched soon, and other features including the decentralized shared sequencer are under development.

5. Starknet Partners with Xverse to Advance Bitcoin DeFi Development link

Starknet, an Ethereum Layer — 2 solution, has partnered with the Bitcoin wallet Xverse. They plan to integrate in the second quarter of 2025 to provide a Bitcoin DeFi experience. The Bitcoin roadmap released by the Starknet Foundation shows that while remaining active on Ethereum, this solution will serve as the execution layer for Bitcoin to enhance the transaction processing capacity.

6. ZKsync Halts Ignite Incentive Program, Adopts Conservative Spending Approach Amid Bear Market link

ZKsync officially announced that it will cancel the second season of the incentive program Ignite and will gradually terminate the program by closing the rewards of Phase 6 of Season 1 starting from March 17th. ZKsync explained that the market is currently in a bearish environment. Like other ecosystems, ZKsync has decided to adopt a more conservative attitude towards spending in the medium and short term. All remaining rewards will be distributed as planned before Monday, March 17th, 2025. After the distribution is completed, no new incentives or rewards are planned to be provided.

7. Modular Protocol Hemi Officially Launches Mainnet link

The modular protocol Hemi tweeted that its mainnet has been officially launched, aiming to integrate the Bitcoin and Ethereum ecosystems. Hemi provides comprehensive DeFi functions, such as token exchange, liquidity mining, and cross — chain asset transfer. Users can use Bitcoin assets to participate in the Ethereum ecosystem, promoting cross — chain interaction and innovation.

8. Pendle TVL Surges to $4.4 Billion, Plans Expansion into Non-EVM Ecosystems and TradFi-Compliant Products link

Pendle promotes more institutional liquidity on — chain through yield tokenization. Its TVL increased from $230 million to $4.4 billion between 2023 and 2024, mainly driven by the rising demand for re — staking. By splitting the principal token (PT) and the yield token (YT), Pendle enables users to trade, hedge, or lock in future yields independently. In the coming months, Pendle plans to expand to non — EVM ecosystems such as Solana and TON, and launch products that comply with TradFi regulations.

9. BlackRock’s BUIDL Token Surpasses $1 Billion in Value link

The asset scale of the BUIDL token, issued by the global asset management company BlackRock in cooperation with Securitize and backed by US treasuries, has broken through the $1 — billion mark. Securitize revealed that Ethena increased its holdings by $200 million on that day, driving the BUIDL scale to break through this threshold. As the main reserve asset of Ethena’s yield token USDtb, the current supply of USDtb reaches $540 million, of which $320 million is supported by BUIDL.

10. Virtuals Protocol Unveils Multi-Agent Framework ACP link

Virtuals Protocol has announced the launch of the Agent Commerce Protocol (ACP), a multi — agent framework designed to enable AI agents to communicate, collaborate, and foster growth in a secure, verifiable, and efficient manner. Within the next month, the team will focus on energizing two business clusters, namely autonomous hedge funds and trading DAOs (in negotiation with aixbt and AIxVC) and autonomous media houses (in negotiation with Luna and Music By Virtuals).

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