A massive list of balance changes have come through, alongside the launch of Gizmo.
As you surely know already, the fluffy Gremlins protagonist Gizmo has joined MultiVersus, but he is not the only new thing added to the game. Gizmo is launching together with a new update (1.02), and this one is really, really big.
The most important thing is that the hitboxes, referred to as hurtboxes, have been remade and are not longer just blocks, but rather aligned with your character's limbs. The projectiles have also been easier to understand, and they are now more in line with other fighting games, so one projectile cancels out another.
The characters have also been rebalanced with Bugs Bunny, Iron Giant, Shaggy, Superman, Tom & Jerry and Velma being the biggest losers, and getting massive nerfs. Batman, Finn, Garnet, Harley, Morty and LeBron James are the winners of this update, being considerably buffed.
Head over here to check out the massive patch list.