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Curve DAO votes to activate Llamalend v2 on Optimism, unlocking any‑asset lending and LP‑token collateral with a zero‑borrow‑cap start and 100k OP rewards.
Curve DAO approved the first step to launch Llamalend v2 lending markets on Optimism, removing the mandatory crvUSD pairing and allowing any supported asset pair to be used as collateral or borrowed asset [1][2].
| At a glance | |
|---|---|
| Catalyst | DAO vote to open Llamalend v2 markets |
| Deployment | Optimism network, zero borrow caps initially |
| New feature | LP tokens usable as collateral |
| Incentive | 100,000 OP token rewards campaign |
Llamalend v2 eliminates the crvUSD‑only restriction that limited earlier markets, enabling borrowers to create lending pairs with any supported token, including Curve LP tokens [1][2]. This change lets liquidity providers borrow against their LP positions without exiting the pool, boosting capital efficiency for sophisticated DeFi users. The protocol will initially launch three isolated markets on Optimism, each with a borrow cap set to zero to gather liquidity and validate risk parameters before borrowing is enabled [1][2].
Each new market is isolated, with its own collateral asset, borrowed asset, caps, oracle setup, and risk profile. Borrow caps start at zero, and the Curve DAO must approve any increase through a roughly seven‑day governance process [1][2]. An incentive campaign powered by Merkl will distribute 100,000 OP tokens across the initial markets, aiming to attract liquidity while the system is tested [1][2]. After a successful Optimism rollout, additional markets are slated for deployment on Ethereum mainnet in the second half of the year [2].
The activation of Llamalend v2 marks Curve’s shift toward a broader, more capital‑efficient lending framework, but its impact will hinge on how quickly markets move from zero caps to active borrowing and how LP‑token collateral adoption scales.
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 2 outlets · Jul 14, 2026 · How we report
The attacker purchased approximately $4.4 million worth of BONK tokens, reaching the quorum threshold of 879.95 billion BONK and securing a 99.9% yes vote, which automatically executed the transfer.
BonkDAO lacked a timelock delay, a multisig or council veto mechanism, and had a quorum design that enabled control with only about 1% of token supply, all of which could have halted the malicious proposal.
CRV increased by roughly 4% over a day, with on‑chain data showing reduced selling pressure and a 16% rise in open interest, indicating increased speculative leverage.