1386
Twitter: twitter.com/asxn_r Substack: asxn.xyz Contact: @fromm_esf @munehisa_asxn
We wrote a short report on Firedancer:
Twitter thread: https://x.com/asxn_r/status/1724910027415179640?s=46&t=kyBvK3iQ8wy4MEOgRdxA4w
Substack: https://www.asxn.xyz/p/firedancer-consensus-at-the-speed?utm_campaign=post
Daily Notes: 14-11-2023
Developments
- OKX has launched their zero knowledge EVM compatible Layer 2 chain “X1” on testnet through Polygon’s Chain development kit. source
- Aave has increased the borrow rate for their multi-collateral backed stablecoin, GHO, from 3% to 4.72% following governance approval. source
- Circle’s Cross Chain Transfer Protocol for USDC will be coming to Noble, an application-specific chain built for native asset issuance in Cosmos, on the 28th of November. source
- dYdX Chain‘s (dYdX v4) beta mainnet has gone live. Users can trade over 33 pairs. There will be no trading rewards at this stage but validators and stakers will accrue trading rewards. source
- Vitalik published an article on the Ethereum scaling technology, Plasma. Plasma chains settle on Ethereum but execute transactions off-chain with their own mechanism for block validation. The OMG network which utilises Plasma tech had its native token increase by as much as 33% before retracing to +10% on the daily. source
- Ankr partners with Optimism to launch a rollup as a service product to enable users to create an “an independent OP Stack-based L2 that exclusively serves traffic from their application or project”. source
- South Korea's democratic party candidates will be required to disclose crypto holdings as it’s 2024 legislative election nears. source
Trending Assets and Volumes
- BANANA had a great day, and is up 34.37%.
- DYDX is up 21.49% and RLB is up 12.91% over the past day. PRIME has also been performing well, and is up 10.69% over the past day and 94.91% over the past month.
- Large caps have not been performing very well. AVAX is showing some strength, and is up 3.52% today.
- crvUSD, DYDX and MKR are dominating volumes on chain.
TVL
- Astroport, AMM on Cosmos, TVL grew by 30.70%.
- PayCash, DEX on EOS, TVL grew by 14.55%.
- sDAI, yield-bearing stablecoin on xDai, TVL grew by 14.04%.
Fees
- Synthetix fees earned are up 179.63% compared to yesterday.
Articles
- ether.fi has launched their ambassador program. Ambassadors,will receive exclusive access to project updates and news, early access to new products and features, and rewarding contribution opportunities. source
Full notes here:
https://x.com/asxn_r/status/1724560624825360702
Fees
- Bitcoin fees earned are up 406.68% - following the rise in inscription and BRC-20 volume.
- Raydium, a DEX on Solana, fees earned are up 341.96%.
Governance Proposals
- Balancer proposal to lock the vested 1.4m Aura and 600k unvested Aura into vlAura to begin earning rewards and eventually start allocating vote weight towards revenue generating pools. source
- Aave proposal to lock the AURA holding in vlAURA via the Strategic Asset Manager and delegate managing the position to the GHO Liquidity Committee. source
- Aave proposal regarding the parameters to migrate USDC.e to native USDC on Arbitrum. source
- Aave proposal to upgrade the Aave Swap Contract to include Limit Orders and TWAP swap functionality. source
- Lido proposal for Lido DAO to accept the ownership of the wstETH bridging on zkSync Era. source
- Arbitrum proposal to backfund 26 STIP Round 1 proposals that were approved but not funded due to budget issues, allocating 21.4M additional ARB. Projects which would potentially receive the highest portion of the backfund allocation are: Gains (4.5M ARB), Synapse (2M ARB), Wormhole (1.8M ARB) and Stargate (2M ARB). source
- Aave proposal to increase the GHO Borrow Rate from 3.00% to 4.72%, the proposed sDAI rate. source
- Stargate proposal to shut down BNB BUSD pool and associated pathways and swap all BUSD multisig holdings into another highly liquid, USD-pegged stablecoin. source
Articles
- Users can earn VRTX and ARB by trading on Vertex or LPing Elixir Fusion pools. source
- STFX has launched spot vaults, and users can now trade every ERC-20 coin directly through the platform. STFX_IO/spot-vaults-are-live-a631ec9384b8">source
- Lido has launched wstETH on Base. The initiative was led by KyberSwap, Beefy, and Superbridge. source
- Vertex has launched Take Profit and Stop Loss orders on their trading platform. source
- Canyon will activate on Optimism, Base, and other Superchain testnets on November 14th at 17:00 UTC, and includes support for the Shanghai and Capella Ethereum hardforks and some minor bug fixes. source
- Rysk Finance's proposal to the Arbitrum STIP was voted to receive 500K ARB to distribute as rewards to Rysk liquidity providers and options traders on the Rysk platform. source
- Perennial has been granted 750,000 ARB tokens from Arbitrum to distribute as incentives over the next 3 months to grow activity on Arbitrum. The incentives program will run for 12 weeks with rewards distributed each week totaling around 62,500 ARB per week. Rewards will be split between traders and liquidity providers. source
Full notes here:
https://x.com/asxn_r/status/1723841741067845954
Developments
- BlackRock is working on launching a spot ETH ETF called the iShares Ethereum. source
- The European Parliament approved an act that would require smart contracts to have a kill switch. The next steps towards the act being implemented would be approval from the European Council. source
- Circle has released v2.2 for their stablecoins - USDC and EURC. The update decreases gas costs, increases the security of transactions involving them on EVM chains, and provides improved support for account abstraction which enables developers to build products where users can pay gas in USDC or EURC. source
- Ark Invest and 21Shares are getting ready to launch 5 new ETF‘s that will give investors exposure to digital assets, including Bitcoin and Ethereum futures contracts. source
- Riot Platforms, a Bitcoin mining firm, has released their 2023 Q3 report which shows increased revenues by 11.2% from $46.3 million to $51.9 million compared to their Q3 2022 reports. Additionally, they mined 1,106 BTC compared to 1,042 BTC in Q3 2022. source
- Immutable has partnered with Ubisoft’s Strategic Innovation Lab to “a new gaming experience to further unlock benefits for players through the power of web3”. source
- A New York judge approved Celsius’ plan to restart under the name “NewCo” which would see the distribution of $2 billion BTC and ETH to Celsius customers as well as NewCo Stock. source
- Polygon has relaunched their grant program “Polygon Village” which will use 110 million MATIC ($90 million) to fund both projects both existing and being developed on the chain. source
- Former Flashbot’s co-founder, Stephane Gosselin, has released a Telegram bot named ‘Alfred’ which allows users to trade tokens on Ethereum while protecting against MEV. source
- HTX and Tron founder, His Excellency Justin Sun, has asked via his Twitter if the public would like to see Inscriptions come to Tron. source
- Chainlink staking v0.2 will launch to the public on December 11th 2023. The pool will have 45 million LINK in rewards. Early access will open on December 7th. source
- USDC’s Circle is considering going public via an initial public offering (IPO) in early 2024 as reported by Bloomberg. Previously, Circle was valued at $9 billion when it attempted to go public via a blank check merger deal with Concord Acquisition Corp in 2021, which was ultimately terminated in December 2022 due to the transaction timing out. source
- Illuvium, a game built on Immutable X, was listed on the Epic Games Store today. In response, the project's token, ILV, has surged by 22% in the last 24 hours. Previously, Illuvium raised $15 million in seed funding and another 4,018 ETH and 239,388 sILV2 (valued at $72 million in June 2022 and $26 million today if unconverted) in an NFT land sale in June of 2022. The game is set to be available to the public for download on November 28th as "Early Access."
- The SEC could approve spot BTC ETF’s as a minimum 8 day temporary window opens up starting tomorrow. source
- OpenSea’s valuation has been reduced by 90% from $13.3 billion to $1.4 billion or less by Coatue, an asset management company that co-led a $300 million round for OpenSea in 2022. Coatue also marked down its stake in MoonPay by 90%. source
- HSBC has partnered with Metaco, which is a Ripple owned company. Metaco provides infrastructure for financial and non-financial institutions to securely build their digital asset operations including tokenized securities custody service for institutional clients. The service aims to go live in 2024. source
- The FTX estate moved an additional $38.5 million of assets to exchanges today, $31.2 million of which was SOL. This brings the total assets moved to exchanges at $350 million so far. source
- Robinhood to expand its Crypto services into the EU. It will also be establishing a UK brokerage in the next few weeks. source
Daily Notes: 09-11-2023
Developments
- BlackRock is working on launching a spot ETH ETF called the iShares Ethereum. source
- The European Parliament approved an act that would require smart contracts to have a kill switch. The next steps towards the act being implemented would be approval from the European Council. source
- Circle has released v2.2 for their stablecoins - USDC and EURC. The update decreases gas costs, increases the security of transactions involving them on EVM chains, and provides improved support for account abstraction which enables developers to build products where users can pay gas in USDC or EURC. source
- Ark Invest and 21Shares are getting ready to launch 5 new ETF‘s that will give investors exposure to digital assets, including Bitcoin and Ethereum futures contracts. source
- Riot Platforms, a Bitcoin mining firm, has released their 2023 Q3 report which shows increased revenues by 11.2% from $46.3 million to $51.9 million compared to their Q3 2022 reports. Additionally, they mined 1,106 BTC compared to 1,042 BTC in Q3 2022. source
- Immutable has partnered with Ubisoft’s Strategic Innovation Lab to “a new gaming experience to further unlock benefits for players through the power of web3”. source
- A New York judge approved Celsius’ plan to restart under the name “NewCo” which would see the distribution of $2 billion BTC and ETH to Celsius customers as well as NewCo Stock. source
- Polygon has relaunched their grant program “Polygon Village” which will use 110 million MATIC ($90 million) to fund both projects both existing and being developed on the chain. source
- Former Flashbot’s co-founder, Stephane Gosselin, has released a Telegram bot named ‘Alfred’ which allows users to trade tokens on Ethereum while protecting against MEV. source
- HTX and Tron founder, His Excellency Justin Sun, has asked via his Twitter if the public would like to see Inscriptions come to Tron. source
- Chainlink staking v0.2 will launch to the public on December 11th 2023. The pool will have 45 million LINK in rewards. Early access will open on December 7th. source
Trending Assets and Volumes
- BADGER is up 65.53% today, and is also had one of the top 10 highest trading volumes onchain.
- MC, up 21.42%, HT, up 20.39%, and ELON, up 14.51%, were top performing tokens above $100M.
-LDO, up 7.06%, and ETH, up 6.51%, performed well today following BlackRock’s ETH ETF filing.
TVL
- HMX, multichain perpetuals DEX, TVL grew by 410.57%.
- Cetus, DEX on Aptos and Sui, TVL grew by 25.56%.
- Vaultka, yield on Arbitrum, TVL grew by 24.13%.
Fees
- friend.tech fees earned back in the top 10, after a 54.60% increase over the past day. Bitcoin fees earned is second highest - potentially due to rising popularity of inscriptions.
Governance Proposals
- Balancer proposal to lock the vested 1.4m Aura and 600k unvested Aura into vlAura to begin earning rewards and eventually start allocating vote weight towards revenue generating pools. source
Articles
- Users can earn VRTX and ARB by trading on Vertex or LPing Elixir Fusion pools. source
- STFX has launched spot vaults, and users can now trade every ERC-20 coin directly through the platform. STFX_IO/spot-vaults-are-live-a631ec9384b8">source
Full notes here:
https://x.com/asxn_r/status/1722768331789275144
Daily Notes: 07-11-2023
Developments
- Ondo Finance has partnered with Mantle to launch USDY on the Mantle network. USDY is a yield bearing stablecoin overcollateralized by short-term US Treasuries and “high-quality bank demand deposits' that currently yields 5.1% APY. source
- The EigenLayer voting contest to add new LSTs to the protocol is nearly over, with 17.5 hours left to vote. All projects that receive over 15k ETH in votes will be added to EigenLayer in order of the votes received, in ‘the next few months’. Currently StakeWise, Swell, Binance and Origin Protocol are above the threshold. source
- Sushi’s founder, Jared Gray, has published a proposal to redefine the tokenomics for the protocol’s token, SUSHI. source
- GMX will start to deploy the 12 million ARB (~$13 million) received via the Arbitrum STIP program tomorrow on the 8th of November. source
- Kraken is considering blockchain-technology firms to help them launch their own Layer 2 chain. These firms include Polygon, Matter Labs, and Nil foundation and others that are not publicly disclosed. source
- An Enjin token multisig withdrew 169.3 million ENJ (~$52 million) from Binance. The wallet now holds 201.7 million ENJ which is equal to 20% of the tokens supply and valued at $64 million. source
- Co-founder of BitMEX, Samuel Reed, has pleaded guilty to Bank Secrecy Act Violations and has agreed to pay a $10 million fine. His co-founders, Arthur Hayes and Benjamin Delo pleaded guilty to the same crime earlier in February of 2022. source
- USDC will be natively available on Moonbeam. Users will be able to pay for gas and transact with USDC without needing to hold DOT via establishing a Polkadot Asset Hub account. source
- Aave V3 has gone live on Gnosis chain. source
- Shrapnel, a first person Avalanche blockchain based shooter that recently raised $20 million and another $10.5 million in 2021, has launched their token SHRAP on the Avalanche chain. source
Trending Assets and Volumes
- LMWR is up 71.92%. COW is up 51.18% following the core team’s proposal to add fees to test which fee models would be best suited for long-term adoption.
- BLUR, up 38.03%, BITCOIN up 14.88% and GRT up 12.28% performed well today.
- CRO is up 7.52%.
TVL
- SwissBorg, CeFi, TVL grew by 32.44%.
- Cetus, DEX on Sui and Aptos, TVL grew by 13.92%.
- sDAI, yield-bearing stablecoin on xDai, TVL grew by 12.29%.
Fees
- Azuro fees earned grew by 865.62% yesterday.
Governance Proposals
- Aave proposal to upgrade the Aave Swap Contract to include Limit Orders and TWAP swap functionality. source
- Lido proposal for Lido DAO to accept the ownership of the wstETH bridging on zkSync Era. source
- Arbitrum proposal to backfund 26 STIP Round 1 proposals that were approved but not funded due to budget issues, allocating 21.4M additional ARB. Projects which would potentially receive the highest portion of the backfund allocation are: Gains (4.5M ARB), Synapse (2M ARB), Wormhole (1.8M ARB) and Stargate (2M ARB). source
Articles
- Vertex has launched Take Profit and Stop Loss orders on their trading platform. source
- Canyon will activate on Optimism, Base, and other Superchain testnets on November 14th at 17:00 UTC, and includes support for the Shanghai and Capella Ethereum hardforks and some minor bug fixes. source
Full notes here:
https://x.com/asxn_r/status/1722024808156713196
Daily Notes: 31-10-2023
Developments
- Celestia has gone live on mainnet beta. The TIA token is also available to trade on a range of Tier 1 exchanges. Additionally, Binance listed $TIA perpetual contracts today. source
- Backpack, a crypto wallet, will be launching an exchange after successfully acquiring a VASP licence from Dubai Virtual Assets Regulatory Authority. source
- Circle will stop supporting customer (retail / individuals) minting of their stablecoins USDC & EURC. Businesses and Institutional clients will remain unaffected. source
- Hyperliquid, a perpetual DEX, has announced a points program which will begin from November 1st at 00:00 UTC. 1 million points will be distributed to users over 6 months every Thursday from the 9th of Nov. A separate snapshot for a separate points drop was taken on October 31st at 00:00 UTC for closed alpha users. source
Trending Assets and Volumes
- JOE, up 20.52%, GF, up 15.83%, and CYBER, up 14.32%, outperformed today.
- SUSHI is up 15.44% today. WLD also did well, and is up 5.28%.
- ATOM is the top performer for large caps, up 4.73%.
- Onchain trading volumes are slightly lower compared to last week. ARB and LINK continue to attract most volume.
TVL
- Hashnote, multichain RWA, TVL grew by 373.51%.
- Canto Lending, lending on Canto, TVL grew by 80.93%.
- Tonstakers, liquid staking on TON, TVL grew by 19.41%.
Fees
- Curve fees earned are up 100.73%. GMX fees earned are up 92.39%.
Articles
- The Vertex Liquidity Bootstrapping Auction will occur from November 13th to November 19th. Participants can supply the their pre-claimed VRTX token and USDC.e stablecoin liquidity to a combined VRTX-USDC.e pool. source
- Level will be moving towards Level 2.0, an orderbook DEX. source
Full notes here:
https://x.com/asxn_r/status/1719479459244363909
Governance Proposals
- Sperax proposal to introduce protocol-owned liquidity via sales of SPA bonds using the bond protocol and treasury tokens. source
- Frax proposal to add pETH-frxETH to the FXS Gauge Controller. pETH is JPEG’d’s ETH-pegged derivative product. source
- Sperax proposal to decrease SPA emissions from Demeter farms by 50%, curb SPA bribes dispensed by SPA Gauge by 20% and to shift Demeter emissions to xSPA. source
- Lido proposal seeking DAO approval for the addition of a new module that will utilize Distributed Validator Technology (DVT) on mainnet through Obol Network and SSV Network implementations. source
- Balancer proposal to activate a 2% capped gauge for an 80% D2D / 20% rETH pool on Arbitrum. source
- Balancer proposal to activate an uncapped gauge for a stable axlETH/WETH pool on Base network. source
- Balancer proposal to enable a Balancer gauge for a swETH/wstETH pool on Balancer Ethereum. source
Articles
- Protectorate will use a portion of their revenue to buy back PRTC from the open market. Instead of burning the bought back tokens, they’d live in a custom Balancer Weighted Pool, with an initial weight of 80/20 - PRTC/ETH. source
- Injective has launched Injective Nexus, their official data integration and availability on Google Cloud, one of the leading providers of cloud computing services. source
- Synthetix V3 will have zero interest or fees charged to borrowers. Users can deposit collateral to generate sUSD without interest or other fees. source
Full notes here:
https://x.com/asxn_r/status/1718768518324162862
Developments
- The Blackrock iShares spot Bitcoin ETF was listed on the DTCC (Depository Trust & Clearing Corporation), and was the first spot ETF to do so. It received a CUSIP number (all North American / Canadian securities have this 9-digit alphanumeric code identifying it) and had the ticker $IBTC if approved. The following day, on the 24th, Blackrock’s iShares spot BTC ETF was removed from the DTCC (Depository Trust and Clearing Corporation). It was listed back later. source
- The Grayscale spot BTC ETF conversion ruling has been confirmed by US courts today after the SEC announced it would not be appealing last week. A refreshed, new application has been filed by Grayscale to convert the Trust into a ETF which also has to be reviewed by the SEC along with the several other BTC spot ETF applications. source
- Prisma Finance has raised the debt cap for their four depositable collaterals on Tuesday 24th at 7pm UTC. source
- Celestia, a modular blockchain network that provides a scalable data availability layer for developers, is “ready to launch'' the mainnet beta for their network as stated by an official blog post written by the team. source
- Yearn Finance, has revamped the tokenomics of their native token YFI. Token holders can now lock their $YFI for up to 10 years for veYFI which will allow users to vote on where to allocate previously bought back YFI to pools for an increased reward boost. source
- The Astar Network's zkEVM testnet, zKatana, is now live. The network will aim to empower builders and enterprises to tap into crypto securely. source
- Worldcoin will be paying their eye-scanning Orb operators in the project's native token WLD instead of USDC. The transition is estimated to be completed by next month. source
- FTX is considering three bids proposing to restart trading on the bankrupt exchange. The FTX estate has said they will make a decision on how to proceed by mid December in a court hearing held today as they engage with multiple parties interested in acquiring, partnering and possibly investing in the future of FTX. source
- Galaxy has estimated possible inflows of up to $14 trillion in the first year following the listing of a spot BTC ETF in a research article published on the 24th. source
- dYdX chain (v4) is now completed and fully open source to the public after undergoing an audit from Informal Systems which found 1 critical issue that is now resolved. source
- On the 24th, Scroll had a total seen 7479 ETH ($13.64 million) bridged to its mainnet, over 26,000 unique users and 657,842 transactions on the network since the 11th of October. source
- The 1inch Team investment fund sold 4685 stETH for 8.54M USDC at an average price of $1823 per stETH. The estimated profit is $1.28 million. source
- The TON Believers fund has stopped accepting new deposits after 1.317 billion TON tokens (~25% of TON supply and worth approximately $2.832 billion) were deposited by $TON holders. 1.034 billion TON was deposited by users that opted to lock their tokens for 5 years. source
- A large staked ETH & money market farmer 28,939 stETH from the Lido staking contract on the 24th, before sending 30,710 ETH to Binance.
- On the 24th, the FTX estate sent 100,000 $SOL (approximately $3 million) to Kraken, 51,335 $SOL ($1.54 million) to Binance, 25,000 $SOL ($750,000) to Coinbase and 15,335 $SOL ($460,050) to an unlabelled address. source
- Polygon’s POL token contracts are live. source
- Maestro, a Telegram trading bot, had their router hacked for 280 ETH ($510,000) of user funds. source
- Ark Invest, has sold $3.6 million worth of Coinbase stock ($COIN) and Grayscale Bitcoin Trust $GBTC. source
- Shrapnel, a blockchain based first person shooter game being built on Avalanche, has raised $20 million in a funding round led by Polychain Capital. source
- SBF took the stand. This comes after his defence team said it would seek to introduce evidence that highlights "inconsistent statements" testified by former FTX executives Gary Wang and Nishad Singh. source
Daily Notes: 26-10-2023
Developments
- Circle has partnered with crypto exchange, BitoPro, and FamilyMart, a convenience store franchise chain with shops throughout Asia, to work on a service that will allow customers in Taiwan to redeem their FamilyMart loyalty points - “FamiPoints” - for cryptocurrencies, like USDC, via their BitoPro account. source
- J.P.Morgan’s “Coin Systems”, which uses a permissioned distributed ledger (a private blockchain) to facilitate 24/7 cross border payments, now facilitates $1 billion in daily transactions. source
- Today, the dYdX chain (v4) went live to mainnet and produced its genesis block. The frontend for bridging to the chain is set to go live on the 30th of October.
- Prisma Finance will be launching their governance token, PRISMA, on the 2nd of November. 3% (9 million PRISMA) of the total supply will be distributed towards veCRV voters, who voted to whitelist mkUSD and Prisma pools on Curve finance, and Prisma point holders, who received points for engaging with the protocol. source
- ether.fi has partnered with Polgyon zkVM to bring native ETH staking to the chain. Soon users will be able to stake their native ETH directly on Polygon zkEVM by acquiring weETH, ether.fi’s wrapped version of their LST, eETH. source
- Arbitrum Orbit, a service that allows users to create chains that settle on a Arbitrum L2, is “mainnet ready”. Users are still advised to first deploy on testnet to mitigate the risks of a new chain. source
- 0xSifu has migrated his $4.95M ETH short from Synthetix to GMX. His liquidation level is $2,014 (+13%).
-
Trending Assets and Contracts
- XMON is the top performer for tokens below $100M MC, and is up 34% over the past day.
- GNS, up 5.03%, QNT, up 3.12%, and RPL, up 2.96%, performed well today.
- ARB, up 1.52%, outperformed over the past day.
- Similar trading volumes to yesterday: ARB, PEPE and LINK had the highest trading volumes over the past day.
TVL
- ALEX, DEX on Stacks, TVL grew by 109.63%.
- Maple, multichain RWA, TVL grew by 108.58%.
- Cetus, multichain DEX, TVL grew by 12.20%.
Governance Proposals
- Lido proposal seeking DAO approval for the addition of a new module that will utilize Distributed Validator Technology (DVT) on mainnet through Obol Network and SSV Network implementations. source
- Balancer proposal to activate a 2% capped gauge for an 80% D2D / 20% rETH pool on Arbitrum. source
- Balancer proposal to activate an uncapped gauge for a stable axlETH/WETH pool on Base network. source
- Balancer proposal to enable a Balancer gauge for a swETH/wstETH pool on Balancer Ethereum. source
Full notes here:
https://x.com/asxn_r/status/1717668019378249885
Daily Notes: 24-10-2023
Developments
- FTX is considering three bids proposing to restart trading on the bankrupt exchange. The FTX estate has said they will make a decision on how to proceed by mid December in a court hearing held today as they engage with multiple parties interested in acquiring, partnering and possibly investing in the future of FTX. source
- Blackrock’s iShares spot BTC ETF has been removed from the DTCC (Depository Trust and Clearing Corporation). source
- Galaxy has estimated possible inflows of up to $14 trillion in the first year following the listing of a spot BTC ETF in a research article published today. source
- dYdX chain (v4) is now completed and fully open source to the public after undergoing an audit from Informal Systems which found 1 critical issue that is now resolved. source
- So far, Scroll has seen 7479 ETH ($13.64 million) bridged to it’s mainnet, over 26,000 unique users and 657,842 transactions on the network since the 11th of October. source
- The 1inch Team investment fund sold 4685 stETH for 8.54M USDC at an average price of $1823 per stETH. The estimated profit is $1.28 million. source
- The TON Believers fund has stopped accepting new deposits after 1.317 billion TON tokens (~25% of TON supply and worth approximately $2.832 billion) were deposited by $TON holders. 1.034 billion TON was deposited by users that opted to lock their tokens for 5 years. source
- A large staked ETH & money market farmer just withdrew 28,939 stETH from the Lido staking contract, before sending 30,710 ETH to Binance.
Trending Assets and Contracts
- AERO is up 35.42% over the past day. KWENTA is up 41.43%.
- BITCOIN, up 34.81%, PEPE, up 31.84%, and RPL, up 16.79%, performed well today.
- INJ had a great day and is up 16.05%.
TVL
- Acala Liquid-Staking, liquid staking on Acala, TVL grew by 92.65%.
- Helix, DEX on Injective, TVL grew by 77.87%.
- ABC Pool, staking on Conflux, TVL grew by 64.64%.
Fees
- Uniswap V3 fees earned are up 120.06% as on-chain activity picks back up. Synthetix fees earned are up 752.38%.
Articles
- Protectorate will use a portion of their revenue to buy back PRTC from the open market. Instead of burning the bought back tokens, they’d live in a custom Balancer Weighted Pool, with an initial weight of 80/20 - PRTC/ETH. source
- Injective has launched Injective Nexus, their official data integration and availability on Google Cloud, one of the leading providers of cloud computing services. source
- Synthetix V3 will have zero interest or fees charged to borrowers. Users can deposit collateral to generate sUSD without interest or other fees. source
Full notes here:
https://x.com/asxn_r/status/1716932230386532640
We published a research report exploring Rollbit, looking into their tokenomics, buyback and burn, valuation model and more.
You can find it here:
https://x.com/asxn_r/status/1715790409597891010
Daily Notes: 12-10-2023
Developments
- Platypus Finance, was hacked for $2 million in wrapped and staked AVAX. AVAX is down 3% today. Platypus' TVL is down 25% from $12.05 million to $8.96 million. source
- Scroll, a zero-knowledge EVM compatible Layer 2, is now live on mainnet. So far, 370 ETH ($570k) has been bridged to the chain. source
- The Stars Arena exploiter has returned 240,000 AVAX, equal to $2.17 million (90% of the AVAX stolen), after accepting a 10% bounty of $257k. source
- The BH token suffered a $1.2 million exploit via a flash loan attack that manipulated the price of the token and allowed the hacker to take USDT from the LP. source
- The FOMC Meeting Minutes released yesterday expressed that rates may potentially be raised again in the future. September CPI was published today at 3.7% for the month of September, after it was forecasted to be 3.6%. Core CPI was reported (as forecasted) at 4.1%. source
- sFRAX (Staked FRAX) is now live and offering users 7.7% estimated APY on their FRAX. This is down from its initial 10% yield offering after 34.85 million FRAX ($34.85 million) was staked by users in the last day.
Trending Assets and Contracts
- YGG, up 11.51%, and PERP, up 5.74%, were top performers for tokens below $100M MC.
- CANTO, up 9.45%, and FXS, up 6.26%, performed well today. Notably, Frax released sFRAX yesterday and Canto has moved towards becoming a zk-rollup on using Polygon CDK.
TVL
- Frax, stablecoin on Ethereum, TVL grew by 15.46%.
- Tranchess Ether, liquid staking strategy on Ethereum, TVL grew by 14.42%.
- Retro, ve(3, 3) DEX on Polygon, TVL grew by 12.85%.
Fees
- MetaMask fees earned are up 222.72%. friend.tech has dropped out of the top 3 fee earner spot that it enjoyed for a few weeks.
Full notes here:
https://x.com/asxn_r/status/1712575463472677343
Daily Notes: 10-10-2023
Developments
- Ostium Labs, a decentralised protocol that will bring perpetual swaps for commodities and real world assets like oil and gold, has raised $3.5 million in a seed round co-led by General Catalyst and Local Globe. source
- Prisma Finance has integrated their liquid staking token (LST) backed stablecoin, mkUSD, into Stargate to allow for the “fluid and swift transfer of value across multiple networks”. source
- The Bank for International Settlements (BIS), has completed an experiment which saw the successful trading of CBDCs on-chain via automated market makers (AMMs) and bridges. source
- Bitfinex, has offered to repurchase $150 million of its shares from shareholders who received iFinex stock in 2016 in a swap arrangement through BnkToTheFuture, a fintech investment platform, as a means to reimburse customers after Bitfinex was hacked for $71 million in Bitcoin (valued at $3.3 billion today). source
Trending Assets and Contracts
- LINQ, up 15.07%, and rDPX, up 12.31%, performed well today.
- RLB and LQTY were top performers for tokens above $100M MC. Notably, LQTY is up 39.20% this week and 92.04% over the past 30 days.
- LDO is up 1.23%.
TVL
- Portal, multichain bridge, TVL grew by 51.86%.
- sDAI, stablecoin on xDai, TVL grew by 28.89%.
- Scale, DEX on Base, TVL grew by 9.45%.
Fees
- Nothing particularly notable in terms of fees. Uniswap V3 fees earned are up 52.83%, Bitcoin fees earned are down 62.82%.
Governance Proposals
- Proposal for 100% of the fees from Bancor 3 to be used to buy BNT from the market. Currently 90% of fees are being used to buy from the market. source
Full notes here:
https://x.com/asxn_r/status/1711865719271432327
We published a research report exploring Lido v2 mechanics, the staking router and DVT.
You can find it here:
https://x.com/asxn_r/status/1710023792204841330
Daily Notes: 15-11-2023
Developments
- sFRAX proposals to go multichain. source
- Circle Ventures invests in SEI & announces USDC integration. source
- Circle introduce USDC minting for singapore entities. source
- Cosmos votes on max inflation reduction from 20%-10%. source
- Ex Compound Finance CEO, R.Leshner raises $14M for superstate.
- Binance Labs invest in Arkhams token. source
- SEC delays Hashdex BTC ETF. source
Trending Assets and Volumes
- SMURFCAT price increased by 42.21% over the past day
- PDT is up 21.10%, following the rapid price increase of PRIME over the past few weeks.
- JOE (Trader Joe) is up 28.61% over the past day - likely benefiting off AVAX’ strong performance
- Large caps: AVAX, up 21.92%, RNDR, up 21.88%, and CRO, up 20.48%
- PRIME, MEME, LINK, crvUSD and RLB have the highest onchain trading volumes over the past day.
TVL
- Reserve, TVL grew by 60.98%
- Fastex, , TVL grew by 38.41%.
- Kleva Farm, , TVL grew by 26.92%.
Fees
- Aave v2 fees spiked by 5395% to $285k
Governance Proposals
- New Sushiswap tokenomics. source
- Frax Finance & Axelar bridging. source
Full notes here: https://x.com/asxn_r/status/1724920030142374287?s=20
Daily Notes: 13-11-2023
Developments
- A proposal to swap $3 million of $ARB tokens, from the 1inch treasury, into USDC has been published for vote via 1inch’s Snapshot. source
- ether.fi 's liquid staking token, eETH, has gone live on mainnet. Currently, only whitelisted users can mint eETH. ether.fi will continue to whitelist more users to mint over the upcoming days. source
- Uniswap Labs has made over $1 million in the 27 days since turning on the 0.15% fee switch for the Uniswap Protocol last month. source
- Grayscale’s Solana Trust (GSOL) is trading at a 283% premium compared to the spot SOL price. source
- Ondo Finance has partnered with Axelar to make their short-term US treasury bill backed and yield-bearing stablecoin, USDY, bridgeable across chains. Initially, bridging for the token will only be available between Ethereum and Mantle. source
- Ryan Wyatt, former president at Polygon Labs and previously head of gaming for 7 years at Youtube, has joined Optimism as their Chief Growth Officer. He will lead business development, marketing and partnerships strategies among other initiatives. source
- Last week, weekly crypto fund inflows reached $293 million. Bitcoin inflows accounted for $240 million (81%) of that sum and Ethereum took second place with $49 million of total inflows. source
- Spot crypto trading volumes rose by 57.5% in October compared to September’s volumes. source
- Vertex Protocol, a derivatives DEX on Arbitrum, has released the tokenomics for their upcoming native token, VRTX. Users who stake VRTX will receive rewards directed from 50% of the protocol's revenue. Users will also receive voVRTX, a non-transferable token that represents a “token score” which acts as a multiplier effect on incentives for VRTX stakers. source
- ZachXBT has revealed the GROK token’s twitter account to have previously “been reused for at least one other scam”. Upon publishing his findings on Twitter, the price of GROK went down by as much as 60% within 5 minutes. It currently trades at -40% from the price at posting and -48% from all times high which were achieved early today. The token has had $70.7 million in on-chain volume over the past 24 hours. source
- A proposal to backfund successful Arbitrum STIP proposals is ending tomorrow Nov 14 2:00 PM UTC. Of the 110,141,000 total votes so far, 69 million have voted in favour, 41 million have voted to reject and 141,000 have abstained to vote. source
- A fake BlackRock iShares XRP Trust Entity filing in Delaware was published. XRP spiked +20% upon the news being spread via notable crypto news stations but has since returned to -0.20% on the daily. source
Trending Assets and Volumes
- STFX is up 46.74% today, followed by USH, up 43.57%.
- WLD had a good day today, and is up 27.82%. YFI is back above $10,000, as it rose 17.06% over the past day. FXS also had a good day, and is up 12.27%.
- MKR, up 11.75%, and OP, up 8.17%, were the top performing tokens above $1B MC.
- GROK, a memecoin named after Elon Musk’s new ChatGPT competitor, has dominated volumes over the past day.
TVL
- NFTFi, NFT lending on Ethereum, TVL is up 103.14%.
- NAVI Protocol, lending on Sui, TVL is up 30.82%.
- USK, CDP on Kujira, TVL is up 25.07%.
Fees
- Prisma Finance fees earned are up 256.41% over the past day.
Governance Proposals
- Aave proposal to onboard CRVUSD onto Aave v3 on Ethereum. source
Full notes here:
https://x.com/asxn_r/status/1724203296439652389
- The Near Foundation and Polygon Labs have partnered to develop a zero knowledge prover for WebAssembly (WASM) blockchains available via Polygon CDK. Success will mean a more interoperable Web3 ecosystem that will allow WASM chains to tap into Ethereum liquidity. source
- Grayscale’s Chainlink Trust is trading at $44 which is a 297% premium on spot LINK prices. Note that Friday's volume was $880,000 and the 30 day daily volume of the Trust is $132,000. source
- Ondo Finance has partnered with Mantle to launch USDY on the Mantle network. USDY is a yield bearing stablecoin overcollateralized by short-term US Treasuries and “high-quality bank demand deposits' that currently yields 5.1% APY. source
- The EigenLayer voting contest to add new LSTs to the protocol is over. All projects that receive over 15k ETH in votes will be added to EigenLayer in order of the votes received, in ‘the next few months’. Currently StakeWise, Swell, Binance and Origin Protocol ended above the threshold. source
- Sushi’s founder, Jared Gray, has published a proposal to redefine the tokenomics for the protocol’s token, SUSHI. source
- GMX started to deploy the 12 million ARB (~$13 million) received via the Arbitrum STIP program on the 8th of November. source
- Kraken is considering blockchain-technology firms to help them launch their own Layer 2 chain. These firms include Polygon, Matter Labs, and Nil foundation and others that are not publicly disclosed. source
- An Enjin token multisig withdrew 169.3 million ENJ (~$52 million) from Binance. The wallet now holds 201.7 million ENJ which is equal to 20% of the tokens supply and valued at $64 million. source
- Co-founder of BitMEX, Samuel Reed, has pleaded guilty to Bank Secrecy Act Violations and has agreed to pay a $10 million fine. His co-founders, Arthur Hayes and Benjamin Delo pleaded guilty to the same crime earlier in February of 2022. source
- USDC will be natively available on Moonbeam. Users will be able to pay for gas and transact with USDC without needing to hold DOT via establishing a Polkadot Asset Hub account. source
- Aave V3 has gone live on Gnosis chain. source
- Shrapnel, a first person Avalanche blockchain based shooter that recently raised $20 million and another $10.5 million in 2021, has launched their token SHRAP on the Avalanche chain. source
- The Arbitrum staking proposal has passed Snapshot voting. Users will be able to stake their ARB to receive their share of 100 million ARB in rewards allocated from the Arbitrum treasury. source
- As OpenSea cuts 50% of its employees, the BLUR token has soared by 31% on the 6th. Since bottoming on October 12th, BLUR has gone up by 140% to its current price of 0.36 cents. source
- $44 million of Hashflow's token, HFT, will be unlocking on November the 7th at 00:00 UTC. $17 million worth will go to early investors, $13.52 million to Ecosystem Development, $13.28 million to the Core Team and $115,000 for community rewards. source
- Germany’s third largest bank, DZ BANK, has launched its own digital asset custody platform for the processing and custody of digital financial instruments. source
- Last week, weekly crypto fund inflows reached $261 million. Cumulatively, the last six-weeks of inflows have totalled $767 million, the largest since December 2021. source
- The Bank of England and Financial Conduct Authority (FCA) is asking for feedback on their proposals for stablecoin regulation which would, if successful, seek to regulate fiat-backed stablecoins in early 2024 and algorithmic stablecoins which would come shortly after. source
Trending Assets and Volumes
- FTT is up 214.30% this week.
- PRIME, a P2E game, had a great week, and is up 77.31%. BNT was the top performer of the week, and is up 167.84%.
- AVAX performed well this week, and is up 53.94%. CRO continues to show strength, and is up 45.08%.
TVL
- Equation, derivatives on Arbitrum, TVL grew by 117.59%.
- Ghost, lending on Kujira, TVL grew by 85.72%.
- Cetus, DEX on Aptos and Sui, TVL grew by 85.19%.
Daily Notes: 08-11-2023
Developments
- USDC’s Circle is considering going public via an initial public offering (IPO) in early 2024 as reported by Bloomberg. Previously, Circle was valued at $9 billion when it attempted to go public via a blank check merger deal with Concord Acquisition Corp in 2021, which was ultimately terminated in December 2022 due to the transaction timing out. source
- Illuvium, a game built on Immutable X, was listed on the Epic Games Store today. In response, the project's token, ILV, has surged by 22% in the last 24 hours. Previously, Illuvium raised $15 million in seed funding and another 4,018 ETH and 239,388 sILV2 (valued at $72 million in June 2022 and $26 million today if unconverted) in an NFT land sale in June of 2022. The game is set to be available to the public for download on November 28th as "Early Access."
- The SEC could approve spot BTC ETF’s as a minimum 8 day temporary window opens up starting tomorrow. source
- OpenSea’s valuation has been reduced by 90% from $13.3 billion to $1.4 billion or less by Coatue, an asset management company that co-led a $300 million round for OpenSea in 2022. Coatue also marked down its stake in MoonPay by 90%. source
- HSBC has partnered with Metaco, which is a Ripple owned company. Metaco provides infrastructure for financial and non-financial institutions to securely build their digital asset operations including tokenized securities custody service for institutional clients. The service aims to go live in 2024. source
- The FTX estate moved an additional $38.5 million of assets to exchanges today, $31.2 million of which was SOL. This brings the total assets moved to exchanges at $350 million so far. source
- Robinhood to expand its Crypto services into the EU. It will also be establishing a UK brokerage in the next few weeks. source
- The Near Foundation and Polygon Labs have partnered to develop a zero knowledge prover for WebAssembly (WASM) blockchains available via Polygon CDK. Success will mean a more interoperable Web3 ecosystem that will allow WASM chains to tap into Ethereum liquidity. source
- Grayscale’s Chainlink Trust is trading at $44 which is a 297% premium on spot LINK prices. Note that todays volume was $880,000 and the 30 day daily volume of the Trust is $132,000. source
Trending Assets and Volumes
- BOTTO, up 33.25%, and OX, up 27.32%, are some notable tokens below $100M MC that performed well over the past day.
- BNT is up 22.78% over the past day. ILV has had a great week, and is up 49.74% over the past 7 days.
- LINK is up 12.59% today. MATIC continues to show strength and is up 7.71%.
- ARB, LINK and PEPE are dominating trading volumes onchain. Some other notable names are crvUSD, RLB and ILV.
TVL
- FusionX V3, DEX on Mantle, TVL grew by 88.92%.
- GMX V2, perpetuals DEX on Arbitrum and Avalanche, TVL grew by 58.59%.
- Helix, DEX on Injective, TVL grew by 58.21%.
Governance Proposals
- Aave proposal to lock the AURA holding in vlAURA via the Strategic Asset Manager and delegate managing the position to the GHO Liquidity Committee. source
- Aave proposal regarding the parameters to migrate USDC.e to native USDC on Arbitrum. source
Articles
- Lido has launched wstETH on Base. The initiative was led by KyberSwap, Beefy, and Superbridge. source
Full notes here:
https://x.com/asxn_r/status/1722401103050903688
Daily Notes: 06-11-2023
Developments
- The Arbitrum staking proposal has passed Snapshot voting. Users will be able to stake their ARB to receive their share of 100 million ARB in rewards allocated from the Arbitrum treasury. source
- As OpenSea cuts 50% of its employees, the BLUR token has soared by 31% in the last 24 hours. Since bottoming on October 12th, BLUR has gone up by 140% to its current price of 0.36 cents. source
- $44 million of Hashflow's token, HFT, will be unlocking on November the 7th at 00:00 UTC. $17 million worth will go to early investors, $13.52 million to Ecosystem Development, $13.28 million to the Core Team and $115,000 for community rewards. source
- Germany’s third largest bank, DZ BANK, has launched its own digital asset custody platform for the processing and custody of digital financial instruments. source
- Last week, weekly crypto fund inflows reached $261 million. Cumulatively, the last six-weeks of inflows have totalled $767 million, the largest since December 2021. source
- The Bank of England and Financial Conduct Authority (FCA) is asking for feedback on their proposals for stablecoin regulation which would, if successful, seek to regulate fiat-backed stablecoins in early 2024 and algorithmic stablecoins which would come shortly after. source
Trending Assets and Volumes
- TRU, up 59.23%, LMWR, up 55.38%, and PLS, up 29.78%, performed well over the past day.
- As noted, BLUR had a good day gaining 38% on higher than average volume, rallying in response to their largest competitor OS firing 50% of their staff. This could be related to a few positive NFT mints like the recent Springfield punks mint post the Simpsons NFT episode.
- BITCOIN is up 15% today.
- INJ continues to perform well, up 6.2% today.
TVL
- Elysium Bridge, bridge for Elysium, TVL grew by 24.68%.
- Pando Rings, lending on Mixin, TVL grew by 23.66%.
- Scallop Lend, lending on Sui, TVL grew by 19.75%.
Fees
- GMX V1 fees earned are up 1236.89% over the past day. Uniswap V2 fees earned are down 41.06%, OpenSea Seaport fees earned are down 29.91%.
Governance Proposals
- Aave proposal to increase the GHO Borrow Rate from 3.00% to 4.72%, the proposed sDAI rate. source
- Stargate proposal to shut down BNB BUSD pool and associated pathways and swap all BUSD multisig holdings into another highly liquid, USD-pegged stablecoin. source
Articles
- Rysk Finance's proposal to the Arbitrum STIP was voted to receive 500K ARB to distribute as rewards to Rysk liquidity providers and options traders on the Rysk platform. source
- Perennial has been granted 750,000 ARB tokens from Arbitrum to distribute as incentives over the next 3 months to grow activity on Arbitrum. The incentives program will run for 12 weeks with rewards distributed each week totaling around 62,500 ARB per week. Rewards will be split between traders and liquidity providers. source
Full notes here:
https://x.com/asxn_r/status/1721660123347558798
Daily Notes: 30-10-2023
Developments
- Over the past day a large wallet, 0x8..34, accumulated 10.9M RLB tokens on-chain, spending a total of $2.136M, in just a short 2 hour period. source
- ImgnAI, a crypto native project that allows users to generate AI art, has been accepted into Nvidia’s Inception Program. The project’s token, $IMGNAI, has responded positively to the news, increasing by up to 34%.
- On the 28th, the first MEV block using distributed validator technology was proposed on the Ethereum mainnet. source
- Yesterday, Scroll saw 200,000 transactions and over 86,000 new addresses created in 24 hours. This may be due to the Scroll Origins NFT which commemorate Scroll’s recent mainnet launch. The current TVL of Scroll is $14 million according to DefiLlama. source
- Celestia’s token, $TIA, will “tentatively” go live for trading on Binance tomorrow at 16:00 UTC. User’s will be able to deposit TIA on Binance from 14:00 UTC.
- Last week Digital asset investment products saw $326 million of inflows, the largest weekly inflow since July 2022. source
- Regulators in Singapore, Japan, Switzerland and the UK are partnering in a plan to test the tokenization of assets for “fixed income, foreign exchange and asset management products”. source
Trending Assets and Contracts
- VELA, up 103.61%, was the top performer today for tokens below $100M MC.
- RLB had a great day, and is up 13.07%, following 0x8..34’s 10.9M RLB buys on-chain. wCFG is up 9.95%, LQTY is up 4.69%.
- ATOM is up 3.35% today.
TVL
- StakeDAO, multichain metagovernance, TVL grew by 599.19%.
- Hashnote, multichain RWA, TVL grew by 373.68%.
- B.Protocol, multichain lending, TVL grew 111.35%.
Fees
- No particularly notable changes. MetaMask fees earned increased 66.93% over the past day.
Governance Proposals
- Raft will be introducing a RAFT bond program using Bond Protocol. The tokens will be sold using a sequential Dutch auction (SDA). source
Full notes here:
https://x.com/asxn_r/status/1719136268611661892
- Arbitrum will be integrating Celestia for its scalable data availability into ‘Arbitrum Orbit’ - a service that allows users to create chains that settle on Arbitrum L2. source
- The Fantom Foundation has launched the testnet for Fantom Sonic, a new virtual machine that will enable Fantom to achieve “2000+ TPS at an average finality of one second while consuming a fraction of the storage used by its predecessor, Opera”. source
- LayerZero has integrated Horizen’s “EON”, a EVM compatible side chain and smart contract platform powered by Horizon. Additionally, LayerZero will be integrating Lido’s wstETH, allowing it to be moved across Ethereum, Avalanche, BNB Chain, and Scroll. source
- On the 24th, the ProShares Bitcoin strategy ETF ($BITO) traded 36.92 million shares which is 4 times the average daily volume. As of today, one share costs $17.66. source
- Vodafone’s Digital Asset Broker partnered with Chainlink to successfully test the transfer of trade documents via public and private blockchains to support trade processes. source
- Circle has partnered with crypto exchange, BitoPro, and FamilyMart, a convenience store franchise chain with shops throughout Asia, to work on a service that will allow customers in Taiwan to redeem their FamilyMart loyalty points - “FamiPoints” - for cryptocurrencies, like USDC, via their BitoPro account. source
- J.P.Morgan’s “Coin Systems”, which uses a permissioned distributed ledger (a private blockchain) to facilitate 24/7 cross border payments, now facilitates $1 billion in daily transactions. source
- On the 26th, the dYdX chain (v4) went live to mainnet and produced its genesis block. The frontend for bridging to the chain is set to go live on the 30th of October.
- Prisma Finance will be launching their governance token, PRISMA, on the 2nd of November. 3% (9 million PRISMA) of the total supply will be distributed towards veCRV voters, who voted to whitelist mkUSD and Prisma pools on Curve finance, and Prisma point holders, who received points for engaging with the protocol. source
- ether.fi has partnered with Polygon zkEVM to bring native ETH staking to the chain. Soon users will be able to stake their native ETH directly on Polygon zkEVM by acquiring weETH, ether.fi’s wrapped version of their LST, eETH. source
- Arbitrum Orbit, a service that allows users to create chains that settle on a Arbitrum L2, is “mainnet ready”. Users are still advised to first deploy on testnet to mitigate the risks of a new chain. source
- 0xSifu has migrated his $4.95M ETH short from Synthetix to GMX. His liquidation level is $2,014 (+13%).
Trending Assets and Contracts
- Botto, an AI related coin gained 138% this week. AI sector has been performing well with the likes of TAO, WRLD, IMGNAI having outsized weeks also.
- BITCOIN & PEPE were two meme coins that performed well this week, both up more than 50%. Injective put in a big week also, with optimism about their buyback and burn mechanism taking shape.
- LINK broke out of its 524 day range and gained 16.8% this week.
TVL
- Flooring Protocol, NFTFi on Ethereum, TVL grew by 357.30%.
- ALEX, DEX on Stacks, TVL grew by 128.88%.
- Acala Liquid Staking, liquid staking on Acala, TVL grew by 127.07%.
Fees
- Opensea Seaport fees earned are up 323.47% over the past week. GMX, Synthetix and Gains fees earned are all down more than 50%.
Daily Notes: 25-10-2023
Developments
- Yesterday, the FTX estate sent 100,000 $SOL (approximately $3 million) to Kraken, 51,335 $SOL ($1.54 million) to Binance, 25,000 $SOL ($750,000) to Coinbase and 15,335 $SOL ($460,050) to an unlabelled address. source
- Polygon’s POL token contracts are now live. source
- Maestro, a Telegram trading bot, had their router hacked for 280 ETH ($510,000) of user funds. source
- Ark Invest, has sold $3.6 million worth of Coinbase stock ($COIN) and Grayscale Bitcoin Trust $GBTC. source
- Shrapnel, a blockchain based first person shooter game being built on Avalanche, has raised $20 million in a funding round led by Polychain Capital. source
- SBF will be taking the stand. This comes after his defence team said it would seek to introduce evidence that highlights "inconsistent statements" testified by former FTX executives Gary Wang and Nishad Singh. source
- Arbitrum will be integrating Celestia for its scalable data availability into ‘Arbitrum Orbit’ - a service that allows users to create chains that settle on Arbitrum L2. source
- The Fantom Foundation has launched the testnet for Fantom Sonic, a new virtual machine that will enable Fantom to achieve “2000+ TPS at an average finality of one second while consuming a fraction of the storage used by its predecessor, Opera”. source
- LayerZero has integrated Horizen’s “EON”, a EVM compatible side chain and smart contract platform powered by Horizon. Additionally, LayerZero will be integrating Lido’s wstETH, allowing it to be moved across Ethereum, Avalanche, BNB Chain, and Scroll. source
- Yesterday, the ProShares Bitcoin strategy ETF ($BITO) traded 36.92 million shares which is 4 times the average daily volume. As of today, one share costs $17.66. source
- Vodafone’s Digital Asset Broker partnered with Chainlink to successfully test the transfer of trade documents via public and private blockchains to support trade processes. source
Trending Assets and Contracts
- BANANA, up 37.31%, XMON, up 35.32%, and MONG, up 26.98%, performed well today.
- For tokens above $100M MC, Ticker BITCOIN, up 28.30%, LQTY, up 25.76%, and PEPE, up 25.24%, performed well today.
- LINK is up 10.49%. SHIB is up 6.24%.
- Trading volumes on-chain are still relatively high. ARB, PEPE, RLB and LINK have the highest trading volumes on-chain.
TVL
- Parallel Lending, multichain lending, TVL grew by 127.18%.
- GMX V2, multichain perps, TVL grew by 41.59%.
- Tokemak, yield on Ethereum, TVL grew by 28.26%.
Fees
- friend.tech fees earned are up 183.73% over the past day. Ethereum fees earned are up 139.61%.
Governance Articles
- Sperax proposal to introduce protocol-owned liquidity via sales of SPA bonds using the bond protocol and treasury tokens. source
- Frax proposal to add pETH-frxETH to the FXS Gauge Controller. pETH is JPEG’d’s ETH-pegged derivative product. source
- Sperax proposal to decrease SPA emissions from Demeter farms by 50%, curb SPA bribes dispensed by SPA Gauge by 20% and to shift Demeter emissions to xSPA. source
Full notes here:
https://x.com/asxn_r/status/1717284650765205630
Daily Notes: 23-10-2023
Developments
- The Blackrock iShares spot Bitcoin ETF has been listed on the DTCC (Depository Trust & Clearing Corporation), and is the first spot ETF to do so. It has received a CUSIP number (all North American / Canadian securities have this 9-digit alphanumeric code identifying it) and will have the ticker $IBTC if approved. source
- The Grayscale spot BTC ETF conversion ruling has been confirmed by US courts today after the SEC announced it would not be appealing last week. A refreshed, new application has been filed by Grayscale to convert the Trust into a ETF which also has to be reviewed by the SEC along with the several other BTC spot ETF applications. source
- Prisma Finance will be raising the debt cap for their four depositable collaterals tomorrow on Tuesday 24th at 7pm UTC. source
- Celestia, a modular blockchain network that provides a scalable data availability layer for developers, is “ready to launch'' the mainnet beta for their network as stated by an official blog post written by the team. source
- Yearn Finance, has revamped the tokenomics of their native token YFI. Token holders can now lock their $YFI for up to 10 years for veYFI which will allow users to vote on where to allocate previously bought back YFI to pools for an increased reward boost. source
- The Astar Network's zkEVM testnet, zKatana, is now live. The network will aim to empower builders and enterprises to tap into crypto securely. source
- Worldcoin will be paying their eye-scanning Orb operators in the project's native token WLD instead of USDC. The transition is estimated to be completed by next month. source
Trending Assets and Contracts
- ARDVRK, up 54.19%, OX, up 40.68%, and UNIBOT, up 15.15%, are top performers for tokens below $100M MC.
- Ticker BITCOIN performer well today, and is up 21.49%. Similarly INJ continues to show strength, is up 14.41%. Top performer for tokens above $100M MC was ELON, up 31.97% over the past day.
- AAVE, up 8.32%, LINK, up 6.65%, and MKR, up 5.44%, were top performing large caps over the past day. Notably, LINK is up 41.64% over the past 30 days.
TVL
- Flooring Protocol, NFTFi on Ethereum, TVL grew 263.93%.
- MuesliSwap, multichain DEX, TVL grew by 81.26%.
- NodeDAO, LSD on Ethereum, TVL grew by 18.86%.
Fees
- GMX V1 fees earned are up 620.29% following increased volatility over the past few days.
Full notes here:
https://x.com/asxn_r/status/1716568824290398594
Daily Notes: 17-10-2023
Developments
- Scroll mainnet has officially launched. So far 1642 ETH ($2.56 million) has been bridged to Scroll. There is also $1.03 million in TVL and 2094 unique users on the network. source
- BNB Chain launches the ‘BNB Greenfield Mainnet’, a decentralised data storage network that offers fast uploads and downloads, strong privacy/access controls, cross-chain programmability, and data marketplaces where users can freely create, list, trade and sell their data. source
- Fantom Foundation wallets were drained for $550,000 in total via a “ zero day hack via Google Chrome”. The scammer’s wallets hold $7 million, $3.4 million of which is suspected to have been drained from a separate Fantom employee’s wallet. source
- Binance has stopped accepting new UK users yesterday in order to comply with ad rules. source
- dYdX will not profit from or control the operations, infrastructure, fees, growth or development of any protocol using dYdX v4 (dYdX chain) open source code, as they move to a public benefit corporation. source
- FTX agreed to pay Riot Games, the company behind League of Legends & Valorant, $100 million over 7 years. They also agreed to pay Tomorrowland music $42 million through 2026 and the Coachella music festival, $25 million. The details behind the deals are yet to be revealed. source
- Reddit will be sunsetting their on-chain reward service, community points after 3 years of being live. Reddit cites difficulty scaling which has been further exacerbated by the current tough regulatory environment surrounding crypto projects. source
Trending Assets and Contracts
- SPX, up 31%, BB, up 27%, and PRIME, up 13%, performed well over the past day for tokens below $100M MC.
- Large caps mostly underperformed. Regarding tokens above $100M MC, MC, up 7%, and APE, up 4%, performed well.
TVL
- Liquid Collective, LSD on Ethereum, TVL grew by 38.55%.
- BiFi, multichain yield, TVL grew by 23.76%.
- Meteora Vaults, yield on Solana, TVL grew by 23.44%.
Fees
- GMX V1 fees earned are up 1509.74% following the false reporting and massive short liquidations yesterday. Nothing particularly exciting apart from that.
Governance Proposals
- Aave proposal to add FXS to the Ethereum Aave v3 Liquidity Pool. source
- Aave proposal to onboard CRVUSD, minted by the Curve Protocol, into the Aave V3 Ethereum pool. source
Full notes here:
https://x.com/asxn_r/status/1714414200972361856?s=20
Daily Notes: 11-10-2023
Developments
- The Stars Arena Exploiter has said “I would like to cooperate” via a on-chain message to Stars Arena’s wallet after they drained $3 million in AVAX tokens from the protocol. source
- Parsec, a crypto analytics platform, has raised $4 million in a seed round led by Galaxy Digital. The round saw participation from Robot Ventures, Uniswap, and CMT Digital as well as individual investors. source
- WOO Network, has rebought shares and tokens that were sold to the now bankrupt Three Arrows Capital (3AC) after making a deal with their liquidator Teneo. source
- Real USD (USDR), a stablecoin on Polygon issued by Tangible and “backed by real estate”, has plummeted to $0.54 from its $1 peg after a “bank run” saw USDR redeemed for the $12 million of DAI that was available in the protocol treasury. source
Trending Assets and Contracts
- RAIL, up 28.58%, SPX, up 19.81%, and DPX, up 13.88%, performed well today. Notably, Dopex was approved to receive 1.5M ARB as part of Arbitrum’s STIP grants.
- For tokens above $100M MC, WLD, up 3.96%, and ILV, up 3.66%, outperformed over the past day.
- LINK and MKR were relatively strong over the past day.
TVL
- Diva, DVT on Ethereum, TVL grew by 64%.
- sDAI, stablecoin on xDAI, TVL grew by 16.56%.
- Scale, DEX on Base, TVL grew by 12.70%.
Fees
- Notably, Opensea Seaport fees earned are up 481.18% and MetaMask fees earned are up 67.41%.
Governance Proposals
- Aave proposal to transfer BAL, CRV, and USDC from the Aave Polygon Treasury to the Aave Ethereum Treasury. source
Full notes here:
https://x.com/asxn_r/status/1712222910293667981
Weekly Notes: 01-10-2023 to 08-10-2023
Developments
- Rollbit just announced they are bringing their buyback and burn scheme fully on-chain. In the past 2 hours, rollbot.eth purchased 255,252 RLB tokens ($38k) before sending 229,727 RLB to the burn address via a Rollbit Hot Wallet. source
- Celsius could potentially restart under the name “NewCo” which would see the distribution of $2.3 billion of $BTC and $ETH to Celsius customers as well as NewCo Stock start before the end of 2023. source
- Optimism is piloting its fault proof system on the Optimism Goerli Testnet. OP’s fault proof (aka fraud proof) system will allow developers to implement or build any fraud proof system they would like. source
- StarkWare, who is building Starknet, has delayed the first tranche of $STRK token unlocks from November 29th 2023 to April 15th 2024. source
- The SEC’s motion to appeal to turnover the Ripple ruling, which found $XRP to not be a security, has been rejected. source
- 31% of stake on the Solana network now runs through the Jito Labs validator client, which has only been live for 1 year and 2 months. source
- Steven Schoenfield, an ex-blackrock Director, has estimated that the SEC will approve a spot BTC ETF within 3 to 6 months. source
- An OTC scammer has scammed $1 million of the $HyPC token. After selling on both the Ethereum and BNB networks, causing the price to crash by 60% at its lowest point, the scammer received a total $609,145.47 of $ETH and $BNB. source
Trending Assets and Contracts
- X2Y2, up 49.90%, BNT, up 34.74%, and LOOKS, up 20.72%, were the top performers for tokens below $100M MC.
- LQTY, up 18.57%, and RLB, up 16.67%, performed well this week.
- AVAX, 5.70%, was the top performer for tokens above $1B MC.
TVL
- tBTC, bridge on Ethereum, TVL grew by 87.72%.
- Canto Lending, lending on Canto, TVL grew by 34.14%.
- Canto DEX, DEX on Canto, TVL grew by 25.16%.
Fees
- Fees earned across are down over the past week, with the exception of Stars Arena fees earned, up 3015% and Bitcoin fees earned, up 55.73%.
Governance Proposals
- Alchemix proposal to launch Alchemix on Arbitrum with a partnership with Ramses DEX. source
Articles
- Perennial has launched Perennial V2, where they’ve integrated Pyth On-demand Oracle system, have added support for complex order types and have redesigned their market structures. Additionally, Perennial V2 will be oracle agnostic, which will allow the launch of markets for NFTs, RWAs, and other long-tail assets. Y2KFinance/introducing-y2k-ui-v2-266cc6b9c176">source
- Y2K has launched their new UI. source
Full notes here:
https://x.com/asxn_r/status/1711150678935027890
Daily Notes: 04-10-2023
Developments
- The SEC’s motion to appeal to turnover the Ripple ruling, which found $XRP to not be a security, has been rejected. source
- 31% of stake on the Solana network now runs through the Jito Labs validator client, which has only been live for 1 year and 2 months. source
- Steven Schoenfield, an ex-blackrock Director, has estimated that the SEC will approve a spot BTC ETF within 3 to 6 months. source
- An OTC scammer has scammed $1 million of the $HyPC token. After selling on both the Ethereum and BNB networks, causing the price to crash by 60% at its lowest point, the scammer received a total $609,145.47 of $ETH and $BNB. source
Trending Assets and Contracts
- SPX, up 38.75%, performed well today. LBR, up 20.19%, and BANANA, up 13.91%, similarly performed well.
- GNS, up 8%, LQTY, up 4.28%, and FXS, up 3.97%, performed well over the past day.
- AVAX, up 7.13%, performed well, following the popularity of Star Arena - an Avalanche SocialFi platform.
TVL
- dForce, multichain lending, TVL grew by 34.41%.
- Agni Finance, DEX on Mantle, TVL grew by 19.20%.
- Gravity Bridge, bridge, TVL grew by 10.48%.
Fees
- Notably, Ethereum fees earned are up 95.57% over the past day. Additionally, Curve fees earned are up 132.57% over the past day.
Articles
- Perennial has launched Perennial V2, where they’ve integrated Pyth On-demand Oracle system, have added support for complex order types and have redesigned their market structures. Additionally, Perennial V2 will be oracle agnostic, which will allow the launch of markets for NFTs, RWAs, and other long-tail assets. Y2KFinance/introducing-y2k-ui-v2-266cc6b9c176">source
- Y2K has launched their new UI. source
Full notes here:
https://twitter.com/asxn_r/status/1709690014093684992