Each week, we’ll round up the hottest news across the DeFi ecosystem to help you keep up to speed. 

Divergence Ventures, a crypto fund, gamed a retroactive token airdrop by Ribbon Finance, one of its own portfolio companies. They returned 702 ETH to Ribbon. (The Defiant

Consensys, the Ethereum software company and MetaMask developer that raised $65 million in April, is in talks to raise another $250 million at a $3 billion valuation. (Coin Desk

Optimism, one of the premier Layer 2 scaling solutions for Ethereum, announced that they are donating $1m of network profits in an experiment to retroactively fund public goods. (Optimism Medium

$YFI is going multichain. The yield aggregator protocol Yearn Finance announced last night that it has gone live on Fantom and incorporated the blockchain into the new version of its user interface. (The Defiant

For Ethereum users, MetaMask is the way to connect with DeFi and NFTs. For Solana users who also want to enjoy both of those use cases, they use Phantom. This is a deep dive into how Phantom works, and why it’s helping users onboard to web3. (The Block

The founder of Alchemix, a self-repaying loan protocol built on Ethereum, penned a deep and insightful Twitter thread on what he calls “DeFi 2.0”, or the next-gen DeFi. His vision revolves around community-governed tokens and stablecoins. (Twitter

A new site helps investors track the treasuries of DAOs (decentralized autonomous organizations) in a simple yet robust dashboard format. (Open Orgs

Art Blocks, the computer-generated digital art market where chromatic squiggle art has commanded millions of dollars from collectors, raised $6 million in an equity round. (Coin Desk

One of the world’s leading talent agencies has signed a deal with popular NFT collector known as “0xb1,” according to a report from The Hollywood Reporter. They’re angling brand deals and partnerships for the pseudonymous influencer. (The Block