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Twitter: twitter.com/asxn_r Substack: asxn.xyz Contact: @fromm_esf @munehisa_asxn
Daily Notes: 14-12-2023
Developments
- Ark Invest sold $42.6 million of COIN, bringing their total sales to $150 million since December 5th. source
- Cronos, in partnership with Matter Labs and others, launched the testnet for their zkEVM Layer 2. This new chain allows developers to build on Ethereum with ease, creating new layer 2 and 3 hyperchains. source
- Ledger’s connect kit library, used in many protocols' smart contracts, was compromised after an employee’s account was phished. Over $600,000 of user funds were affected; Tether later blacklisted the address holding 44,000 USDT. source
- Arbitrum Foundation proposes supporting Celo chain’s migration to an Ethereum L2 using their Arbitrum Orbit L2 SDK. Celo, planning to use the OP stack for migration, has also considered proposals from Polygon and Matter Labs. source
- LayerZero launches V2 to Testnet, increasing throughput and introducing executors for permissionless execution. It provides omnichain applications with complete control over their security and more. source
- Cyber.Fund, an investment firm previously backing Cosmos, Solana, and Polkadot, plans to invest $100 million in blockchain projects at the intersection of AI and IoT. source
- Sui is contributing 25 million to three SUI Liquid staking protocols: Aftermath Finance, Haedal Protocol, and Volo, along with their respective SUI LSTs. source
- Gaming studio Farcana raised $10 million for their NFT Shooter in a seed round with participation from Animoca Brands, Polygon Ventures, Fenbushi Capital, Merit Circle, and others. source
- Coinlist agreed to pay a $1.2 million fine to OFAC for processing 989 transactions for Crimean users between April 2020 and May 2022. source
- Hitachi’s research arm and Concordium Foundation have partnered to build a biometric crypto wallet using fingerprints or face ID for user authentication. source
- Starknet v0.13.0 is now live on testnet, significantly reducing transaction costs and introducing a new transaction type, V3, for using STRK tokens to pay gas fees. source
- Avive testnet goes live on Arbitrum, showcasing a decentralized social world empowering geonetworking protocols. source
- Pendle Finance hints at Pendle V3, an on-chain system for margin interest rate swap markets. source
- OKX’s buyback and burn wallet received 10.5 million OKB ($628 million), now holding $4.77 billion OKB in total. source
Trending Assets and Volumes
- MUBI, up 37.66%, and LBR, up 34.82%, were top performers for tokens below $100M MC for the day.
- WOO is up 21.32%, OLAS is up 21.13%. PRIME had a good day and is up 15.26%.
- RNDR, up 8.63%, AAVE, up 7.92%, and INJ, up 5.23%, outperformed over the past day.
- AAVE, LINK and PRIME are dominating onchain volumes at the moment.
TVL
- Deri V4, multichain options DEX, TVL grew by 52.51%.
- DefiSaver, multichain services, TVL grew by 50.94%.
- Mantle Staked ETH, LSD on Ethereum, TVL grew by 30.89%.
Fees
- Venus Core Pool fees earned are up 344.30% and Avalanche fees earned are up 267.35%. Overall, fees earned across the board are up.
Full notes here:
https://x.com/asxn_r/status/1735447283221647615
Daily Notes: 12-12-2023
Developments
- A Solana whale sold $5 million of Marinade Finance’s LST, mSOL, causing it to drop by as much as 18% before it retraced its “peg”. source
- According to Mastercard, “over 51% of Latin American consumers have made a purchase with digital currency and one-third have used a stablecoin for everyday purchases.” source
- As AVAX reached a high of nearly $43, Trader Joe's fees earned reached $145,000 - the protocol’s second highest day in 2023. source
- Binance opened trading for BRC-20 SATS today. The token has done $439 million in volume and sits at a $1.09 billion market cap.
- Upbit will be listing CreditCoin. Creditcoin is a Multichain Credit Protocol Powering Real-World Assets.
- Coinbase announced Project Diamond - “a smart contract-powered platform for institutions to create, buy, and sell digitally native assets”. The platform uses Coinbase’s technology stack and Base chain “to deliver secure, compliant, capital market activity” for institutional adoption. source
- The amount of INJ staked on Injective has exceeded $1 billion. source
- Metaverse game My Neighbor Alice has migrated from BNB chain to “relational blockchain” Chromia as their new season 4 commences. Chromia’s native token, CHR, is up 16% which may be attributed to the announcement. source
- Do Kwon’s detention in Montenegro has been extended by two months to Feb 15th at the request of the US and South Korea. source
- The SEC met with Franklin Templeton to discuss their spot BTC ETF application. source
- Distributed validator technology project SSV launched their permissionless mainnet. SSV’s founder has also stated that Lido’s adoption of SSV‘s decentralized technology is expected in the first quarter of 2024. source
- S&P Global Ratings finds USDC, USDP and GUSD to be strong stablecoins, USDT, DAI and FDUSD as “constrained” and FRAX and TUSD as weak. The analysis mainly focused on the quality of assets backing the stablecoin and associated risks with custody and more. source
- Polygon will start offering Celestia as a data availability layer for layer 2 developers using Polygon’s Chain Development Kit. source
- Polygon launches the public beta for “Polygon Portal” - a unified UX for bridging to and from Polygon PoS chain, Polygon zkevm and ETH powered by Socket bridge. It also features a refuel gas feature to easily purchase MATIC and ETH to simplify the Polygon onboarding process. source
- Kucoin has agreed to pay $22 million in a lawsuit brought by the US state of New York. Additionally, they will now be blocking New York users from the exchange. source
- OKX’s NFT Market opens support for Aptos inscriptions. source
- Aave’s DAO has voted to pass a proposal to onboard staked frxETH (sfrxETH) to the Aave V3 Ethereum market. It will launch with a supply cap of 40,000, loan limit of 4,000 and Loan To Value ratio (LTV) of 71%. source
Trending Assets and Volumes
- MUBI is up 37.63%, MOG is up 28% and SPX is up 27%.
- API3 (a web3 focused API provider) is up 22.5%. BEAM increased 21.84% and BIGTIME 20.86%.
- ATOM is up 21.27% over the past day, and INJ is up 14.53%.
- crvUSD, INJ and BEAM dominated onchain volumes.
TVL
- Seamless Protocol, lending and borrowing on Base, TVL grew by 573.48%.
- RosSwap, DEX on FSC, TVL grew by 221.76%.
- pSTAKE Finance, multichain liquid staking, TVL grew by 56.77%.
Fees
- GMX v1 fees increased by 698% to $527,000 over the past day. Convex Finance, saw their fees earned increase 293% to $714,000, and Trader Joe V2 fees earned increased 138.63% over the past day.
Full notes here:
https://x.com/asxn_r/status/1734730424444768589
Daily Notes: 05-12-2023
Developments
- Deribit’s derivative exchange’s open interest on Bitcoin perpetuals has reached a yearly high of $740 million. Source.
- Developers of Axie Infinity, ‘Sky Mavis’, have partnered with gaming development company, ‘Foonie Magus’, to launch their new game. Source.
-Permission-less smart contract platform Neutron, has acquired a 25% stake in Confi. Source.
- Shadow, a crypto startup whose first product “enables anyone to get custom onchain data with just a few lines of code”, has raised $9 million in a seed round. Source.
- Mantle has launched their own Liquid staking protocol and ETH Liquid staking token mETH. Source.
- Lugano, a city in Switzerland, now accepts Bitcoin and USDT for municipal taxes (taxes levied by cities and towns). Source.
- Thirdweb disclosed a vulnerability present in some of their prebuilt open source contracts. Source.
- Umee, a decentralised lending protocol on Cosmos, has announced a merger with Osmosis. Source.
- Grayscale’s Ethereum Trust conversion filing has been delayed by the SEC. Source.
- Ankr has launched their second rollup-as-a-service for zk hyperchains. Source.
Trending Assets and Volumes
- Trading volumes were high on-chain, concentrated on PEPE, MUBI, OLAS & FLC
- MUBI, a bridge for BRC20s to Ethereum, is up 86.82% over the past day.
-ALPHA, memecoin and OLAS are up 56.23% 34.58% 27.77% respectively.
-AVAX, GRT and SHIB are up 7.35%, 5.63%, 4.45% over the last day.
TVL
- Aurora+, a membership program for users of the EVM compatible L1 Aurora, saw a +63.79% in TVL
- Kamino lend on Solana up 14%
Fees
-Bitcoin fees increased 121% day over day, due to Ordinals related network activity. Bitcoin miners earned a total of $5.6M, competing with Ethereum for the top earner.
Governance
- SNX zero inflation proposal. Source.
Full notes here:
https://x.com/asxn_r/status/1732153119318958196
- Former co-founder and CEO of Twitter, Jack Dorsey led a $6.2 million seed funding round for a decentralised Bitcoin mining pool project, OCEAN. The project will provide non-custodial and direct payouts to miners from the block reward. source
- The IOTA token has risen 50% in the last 24 hours as the team launches the ‘Iota Ecosystem DLT Foundation’ supported by $100 million in IOTA tokens vested over the next 4 years. The foundation, located in Abu Dhabi, is focused on promoting distributed ledger technology (DLT) in the middle east. source
- Kronos Research, a crypto trading and investing firm associated with WOO, has offered a 10% white hat bounty to a hacker who stole $25 million from the firm's treasury via authorised access to their API keys. source
- Ark Invest, whose CEO is Cathie Wood, sold $5.3 million of $COIN (Coinbase’ stock) on monday and bought $1.2 million of Robinhood stock. source
- Animoca Brands has become the largest validator of the TON blockchain as it recently invested in the TON ecosystem. Animoca announced that they have and will continue to assist third party GameFi projects on TON as they seek to scale. source
- dYdX has initiated the distribution of DYDX token rewards from the chains trading fees to validators and stakers. Additionally dYdX chain has also launched its trading incentive program which offers $20 million of DYDX tokens over the next 6 months. So far the chain, which is in public beta, has done $1.86 million in volume across 14,000 transactions. source
- Some Coinbase users have received a subpoena that involves Bybit from US Commodity Futures Trading Commission regulators (CFTC). Coinbase announced that if needed, Coinbase will send information concerning the user accounts to the CFTC. source
- According to Glassnode data, ETH has turned deflationary again as ETH entering the validator queue has slowed down and the number exiting increases, alongside increased network activity which burns ETH. source
- Chainlinks priority migration period for existing users staking LINK, the project's native token, has gone live as Chainlink’s new staking pool (v0.2) goes live. The new pool has 45 million LINK (8% of total LINK supply) in rewards. The next stage will allow early access whitelisted wallets to stake in the new pool on December 7th and the pool will open to the public on December the 11th. source
- Circle’s Cross Chain Transfer Protocol for USDC is now live on Noble, an application-specific chain built for native asset issuance in Cosmos. This will allow users to send their USDC directly from other chains to all Cosmos chains that are connected to IBC like the dYdX chain. source
- The SEC has delayed both the Hashdex and Franklin Templeton spot BTC ETFs. Their next deadlines both lie on the 31st of March 2024. James Seyffart (of BBG), suspects that this could potentially be the SEC lining up the BTC ETFs for simultaneous approval in 2024. source
- Following a successful proposal to reduce the max inflation parameter of Cosmos’ native token ATOM from 19% to approximately 13.4%, Cosmos’ founder Jae Kwon has initiated steps and community discussion about hard forking the Cosmos blockchain. source
- KyberSwap has recovered $4.7 million of funds stolen last week with the remaining $1M going to the hacker as a white hat bounty. The funds recovered are separate from the main exploit event. source
- Last week, weekly crypto fund inflows reached $346 million. Bitcoin inflows accounted for $311.5 million (90%) of that sum. Ethereum took second place with $33.5 million, and Solana third with $3.5 million. source
- According to a Bitfinex report, 83.7% of Bitcoin holders are in profit which is the highest level seen since November 2021. Additionally 70 percent of Bitcoin’s supply has not been transacted or moved for over a year. source
- Binance Futures launched USTC perpetuals with up to 50x leverage. USTC, TerraClassicUSD was previously pegged to $1 before the Luna collapse in May of 2022. source
Daily Notes: 29-11-2023
Developments
- Sei will be adding support for the Ethereum virtual machine (EVM) in their upcoming v2 upgrade. This will allow for backwards compatibility of EVM smart contracts and services that support the EVM with 0 changes. Additionally, Sei v2 will optimistically run all transactions in parallel. source
- A proposal written by investment firm Reverie has been posted for voting on whether to “launch a social mitigation strategy for MEV” on dYdX chain (v4). Ending on the 3rd of December, the votes so far as they stand: 18.3% in favour, 0.7% against and 81% abstaining. source
- ProShares Bitcoin Strategy ETF (BITO) has reached an all-time high of $1.5 billion in total fund assets. source
- Wormhole has raised $225 million at a $2.5 billion valuation in a funding round that saw participation from Brevan Howard, Coinbase Ventures, Multicoin Capital and Jump Trading among others. Wormhole is an interoperability protocol that offers cross-chain bridging and messaging. source
- Celsius will open partial withdrawals for holders of “Class 6A General Custody Claims' and/or Class 6B Withdrawable Custody Claims,". The holders will only be able to withdraw 72.5% of their claims and only up until February 28th 2024. source
- Velodrome’s frontend has been compromised. According to ZachXBT, the attackers have been syphoning funds to two wallets which hold $145,000 combined. source
- Former co-founder and CEO of Twitter, Jack Dorsey led a $6.2 million seed funding round for a decentralised Bitcoin mining pool project, OCEAN. The project will provide non-custodial and direct payouts to miners from the block reward. source
- The IOTA token has risen 50% in the last 24 hours as the team launches the ‘Iota Ecosystem DLT Foundation’ supported by $100 million in IOTA tokens vested over the next 4 years. The foundation, located in Abu Dhabi, is focused on promoting distributed ledger technology (DLT) in the middle east. source
Trending Assets and Volumes
- OX is up 22.98% following movements on Su Zhu’s wallets.
- CANTO is up 3.89%, OLAS is up 3.81%.
- MATIC and MKR both had a good day, both up around 3.8%.
- sETH2 (StakeWise’s LST) dominated trading volumes on chain.
TVL
- Kamino Lend, lending on Solana, TVL increased by 51.85%.
- sDAI, yield-bearing stablecoin, TVL increased by 30.66%.
- Outcome Finance, multichain synthetics, TVL increased by 20.22%.
Fees
- Ethereum fees earned are up 30.88% over the past day.
Full notes here:
https://twitter.com/asxn_r/status/1729981603785375928
We published a short analysis of JTO:
https://x.com/asxn_r/status/1729625566377099541?s=20
- F2pool, a Bitcoin mining pool, will stop censoring transactions from addresses flagged by OFAC after Bitcoin developer 0xB10C discovered transactions being censored. source
Trending Assets and Volumes
- GROK is up 202.73% this week.
- BLUR, up 63.33%, SSV, up 38.65%, were top performers for tokens above $100M MC over the past week.
- UNI had a good week, and is up 18.77%. Similarly LDO performed well, and is up 10.21%.
TVL
- UwU Lend, lending on Ethereum, TVL grew by 343.25%.
- Outcome Finance, multichain synthetics, TVL grew by 58.54%.
- Terra Bridge TVL grew by 55.02%.
Fees
- Arbitrum fees are up 132.06% this week. friend.tech fees earned are down 72.51%.
Governance
- Gearbox proposal to separate different multisig roles and improve V3 governance in for future L2 deployments. source
Full notes here:
https://x.com/asxn_r/status/1728901364108193879
We published a short analysis on the Blast airdrop:
https://x.com/asxn_r/status/1728134473735455092?s=20
Daily Notes: 22-11-2023
Developments
- BlackRock and Grayscale have both met with the SEC to discuss details surrounding their spot BTC ETF applications. source
- Heco Bridge and HTX (previously Huobi), have both suffered a hack which stole $86.6 million and $23.4 million respectively. The attacks are suspected to have been carried out by the same entity. HTX, who has paused deposits and withdrawals, has stated that they will cover all $23.4 million lost from their hot wallets and will resume services once their investigation is complete. source
- Blast’s deposit contract has exceeded $200 million of crypto deposited in less than 48 hours. One hour ago a single user deposited $20.6 million (10,000 ETH) and $450,000 of stETH into the contract. source
- unshETH has released their liquid staking token blETH to represent ETH deposits in the Blast bridging contract. Users who send ETH to the blETH contract will be able to mint blETH on a 1:1 basis. However, blETH will take a “small fee” from a user’s farmed points/airdrop. source
- Coinbase has accused the SEC of “hedging and delaying” its response to Coinbase’s ask for new clear rules for digital assets, and states that “only an order by this Court will make the commission [SEC] act”. source
- Cake introduces veCAKE and gauges voting. CAKE holders will be able to stake CAKE for veCAKE which will now power PancakeSwap’s governance. Additionally, veCAKE holders will be able to vote on which gauges CAKE emissions are allocated to. source
- Mt.Gox has stated they will be commencing “cash repayments” to creditors before the end of 2023 and will continue going into 2024. Mt.Gox still holds a reported 69 billion Japanese Yen. source
- Pyth Network’s native token, PYTH, opened for trading on Monday and saw a 50% price increase in the last 24 hours. It is up 60% from its all time low. source
Trending Assets and Volumes
- USH is up 45.84%, following the release of their new LST, blETH. TOKE had a good day, up 30.81%, potentially due to the upcoming launch of their TOKEMAK V2, which will focus on LSDs.
- BLUR had a good day, and is up 32.62%. Notably, Blast L2 allows for BLUR to be staked for an airdrop. OLAS, an AI coin, is up 24.57%.
- UNI had a good day, is up 20.07%.
- UNI, MKR, LINK and RLB have increased trading volumes onchain.
TVL
- ether.fi, LSD on Ethereum, TVL is 28.54%.
- Helix, DEX on Injective, TVL is up 13.97%.
- RenVM, bridge, TVL is up 13.95%.
Fees
- PancakeSwap fees earned are up 90.16% over the past day. Synthetix fees earned are up 203.50%.
Full notes here:
https://x.com/asxn_r/status/1727463182753484956
We published a short thread on Blast. You can find it here:
https://x.com/asxn_r/status/1727102818493010227
- 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
- AI and AI related coins did really well this week.
- TAO, up 64.13%, and STFX, up 58.26%, were the top performers over the past week.
- OLAS had a great week, and is up 85.72%. PRIME is up 39.69% over the past week, and up 109.21% over the past month.
- RNDR did well, and is up 36.69% over the past week.
TVL
- Concentrator, yield on Ethereum, TVL grew by 203.09%.
- NFTFi, NFT finance on Ethereum, TVL grew by 96.71%.
- Reserve, indexes on Ethereum, TVL grew by 71.76%.
Fees
-friend.tech fees earned are up 358%, and Bitcoin fees earned are up 47.14% over the past week.
Governance Proposals
- Sushi proposal to update SUSHI tokenomics using trading, routing and staking fees as well as partnerships. source
- Axelar proposal for Frax to use Axelar Network to bridge FRAX and other Frax assets to chains where Frax Ferry doesn’t operate to. source
- Aave proposal to onboard CRVUSD onto Aave v3 on Ethereum. source
Articles
- STFX has introduced staking tiers that allow traders who stake the $STFX token to increase the performance fees they earn from 15% up to a maximum of 20% on each trade they manage. This represents a potential 33% increase in profits for staking traders. STFX_IO/new-stfx-staking-utility-increased-performance-fees-4efd5f3515d9">source
- 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/1726365240634581173
Short thread on Celestia tokenomics with attached google sheet model:
https://x.com/asxn_r/status/1724531264534065227?s=20
Daily Notes: 13-12-2023
Developments
- On the 11th, Yearn Finance lost $1.4 million (2%) of their treasury after mistakenly transferring all 3.8 million lp-yCRVv2 to a faulty multisig script. The price of yCRV dropped ~36% before being arbitrated back; no user funds were lost. source
- Redacted launched their Dinero Mainnet, allowing users to mint pxETH (Pirex ETH) and apxETH. The REDACTED token is up 18% in the last 24 hours; Dinero integrates ETH staking, block creation, an RPC, and more. source
- OKX lost $2.7 million in an exploit due to a leaked private key of a proxy admin owner after a contract upgrade. source
- Interoperability protocols Axelar and Squid router have been integrated into Vertex, a decentralized exchange (dex). This integration allows seamless bridging & depositing from 8 different chains. source
- Eclipse, dubbed "Ethereum’s fastest L2," powered by the SVM (Solana Virtual Machine) and posting to Celestia’s data layer, has launched their testnet. The developer mainnet beta is expected to launch around the end of 2023. source
- Swarm launched Open dOTC, a permissionless platform for trading tokenized real-world assets. source
- Bitcoin Ordinals trading volumes reached a record $36 million, coinciding with Binance’s listing of BRC-20 SATS. source
- Coinbase’s international exchange is set to list Bitcoin and Ether pairs as part of its global expansion. The listing is scheduled for tomorrow (14th). source
- The Cosmos Interchain Foundation has allocated $26 million for ecosystem development funding in 2024. This follows the $40 million allocated for ecosystem development in 2023. source
- Su Zhu is expected to be released this month due to good behavior, according to Bloomberg. This release is at least 1 month earlier than the initially expected late January 2024. source
- Coti announces its plan to build an Ethereum Layer 2 focused on user privacy. This will upgrade Coti's DAG-based protocol to an EVM-compatible layer 2, inheriting Ethereum's security. source
- The Federal Reserve has decided to leave rates unchanged, with most officials anticipating rate cuts in 2024. source
Trending Assets and Volumes
- USH (unshETH’s governance token) went up 114%, REKT (Telegram casino game and trading bot) is up 65%.
- Gaming ecosystem GuildFi is up 20%, reclaiming 100 million MC after over a year. Autonomous services platform OLAS is up 23%.
- BEAM (formerly Merit Circle) is up 20%. AVAX is up 5% and OKB reclaims all time high of $60 (+5% increase in last 24 hours).
- crvUSD, LINK, BEAM and MUBI dominated on-chain volumes.
TVL
- FusionX V3, DEX on Mantle, TVL grew by 50.69%.
- Agni Finance, DEX on Mantle, TVL grew by 28.43%.
- Orbit Bridge, multichain bridge, TVL grew by 27.34%.
Fees
- Bitcoin and Ethereum fees are on the climb again. Aave v2 fees up 12%. GMX fees down 51%.
Full notes here:
https://x.com/asxn_r/status/1735055896814719237
Daily Notes: 11-12-2023
Today's newsletter is sponsored by Pendle Finance.
Pendle Finance is a DeFi protocol that allows users to tokenize and trade future yields from staked assets and real-world assets.
Pendle recently reached $250M USD in TVL and $335M USD in trading volume. They have also launched a leaderboard campaign on Arbitrum where Rank 1 for this season can win 10,000 in ARB. The campaign will last until 20 December, 23:59 UTC. The top traders will be sorted and determined by their P&L in % by the end of Season 1.
You can check out the trading competition Pendle is offering here.
Developments
- According to Coinglass data, $508.66 million were liquidated in the last 24 hours as Bitcoin dropped to $40,400. source
- Ark Invest sold $49.2 million of Coinbase stock on Friday the 8th of December (their largest COIN sale since July). source
- South Korea regulators have proposed customer safety rules that if successful, will go into effect on July 19th, 2024. These rules, which do not cover NFTs, will require companies to disclose crypto holdings and exchanges to hold 80% of user deposits in cold storage as well as report suspicious behavior to the FSC. The act also defines digital assets and lays out the punishments and fines expected if an entity engages in “unfair trading activities.” source
- Solana’s USDC supply increased by 126.4 million USDC (+27%) in the last week. source
- The Cardano Foundation introduced their new Identity wallet which lets users manage “self-sovereign identities across Cardano and other blockchain networks,'' securely manage digital assets and more. source
- Pixelmon CEO confirms that there will be a token - MON. Although no date has been given, details given state that MON distribution will prioritize the Pixelmon community above all. source
- Trader Joe introduces a new franchise entity - “Merchant Moe” - a separate purpose-built Mantle chain deployment of the DEX. Merchant Moe will launch their own token - MOE - which will function similarly to Curve as staked MOE allows users to vote for boosted rewards to their chosen gauge. Additionally, JOE holders will receive an airdrop of 2.5% of the total MOE supply on TGE and 5% vested over 12 months afterward. source
- Synthetix’s native token, SNX, is no longer inflationary following a successful SIP 2043 proposal which stopped the issuance of new tokens. The rationale behind the proposal, published by Synthetix founder Kain Warwick, was that the effectiveness of inflation has diminished over time compared to the initial introduction which worked to incentivize liquidity and bootstrap the protocol. Additionally, the recently proposed buyback and burn experiments would be counter-intuitive if inflation continued. source
- Coinbase has listed SEAM - their first listing of a token native to the Base network. Trading went live at 6 pm UTC. The token is currently trading at $8.26 with a market cap of $144 million and a FDV of $826 million according to CoinMarketCap. source
- Polymer Labs announced last week that they are building an Ethereum Layer 2 for interoperability similar to Cosmos’ IBC. source
Trending Assets and Volumes
- GFY is up 24.46%. TURBO up 18.03%.
- QI, the native token of Avalanche based lending and borrowing protocol Benqi, is up 84%. AMP up 37%.
-INJ had a great day and is up 16.61%. IMX is up 6.16%.
-crvUSD, LINK, PEPE and INJ dominated onchain volumes.
TVL
- Mantle Staked ETH, LSD on Mantle, TVL grew by 38.13%.
- Hawksight, liquidity manager on Solana, TVL grew by 30.23%.
- ThalaSwap, AMM on Aptos, TVL grew by 27.29%.
Fees
- AAVE V2 fees earned are up 8907% over the past day. Avalanche fees earned are down 57.91%.
Full notes here:
https://x.com/asxn_r/status/1734348504443818410
- Japanese Crypto Fund CGV has announced that they will be investing $5 million into the Blast ecosystem through “incubating and investing in innovative projects”. CGVFoF/the-japanese-crypto-fund-cgv-is-set-to-invest-5-million-into-blast-ecosystem-4f3b65be8548">source
- Google Cloud is now among 65 operators taking part in EigenLayer’s testnet. EigenLayer is a restaking protocol whose mainnet is set for release in the first half of 2024. source
- Binance founder CZ has been denied the right to leave the US before his sentencing. source
- Magic Eden has introduced a wallet made for “Magic Eden users and cross-chain NFT collectors”. The wallet is in closed beta and will support Bitcoin, Ethereum, Solana, and Polygon (the 4 chains Magic Eden’s marketplace supports). Users can apply for the waiting list via a link posted on their Twitter. source
- TORN, the native token of Tornado Cash, has gone down 53% after Binance announced the tokens delisting on the 7th of December 2023,. Additionally BitShares, PERLECO and Waltonchain will also be delisted on the same date. source
Trending Assets and Volumes
- RBX, a perp platform, has been receiving attention as it rivals the volume of top decentralised perp DEX’s despite having an FDV of just $129M.
- OLAS up 40.56% as the AI investment theme takes hold. METIS up 28% as they aim to build the first decentralised sequencer.
- SNX & RNDR top performers this week, both up greater than 10%.
TVL
- Kamino Lend, lending on Solana, TVL grew by 173.47%.
- Terra Bridge TVL grew by 138.40%.
- TruStake MATIC, liquid staking on Ethereum, TVL grew by 108.80%.
Fees
- Curve DEX fees earned are up 323.47%, and dYdX fees earned are up 109.85% over the past week. Vertex fees earned are down 43.95% over the past week.
Full notes here:
https://x.com/asxn_r/status/1731432337424982253
Developments
- Michael Saylor’s MicroStrategy has bought another 16,130 Bitcoin at an average price of $36,785 for $593.3 million total. This brings the firm's total Bitcoin holdings to 174,530 Bitcoin at an average price of $30,252 per coin. MicroStrategy may also be looking to raise $750 million through the sale of class A common stock. source
- Illuvium is partnering with eSports organisation Team Liquid to release themed NFTs as well as advise on the development of games in the Illuvium ecosystem and their eSports scene. source
- ParaX has rebranded under Parallel Finance as they announce a $30 million raise from Sequoia, Polychain, Blockchain Capital, Coinbase Ventures among others. ParallelFi/introducing-parallel-finance-the-first-defi-super-app-417b4392b839">source
- Sony has filed a patent that would enable players on their Playstation console to transfer digital assets to each other through blockchain technology. Similarly, leaked Microsoft documents from September 2023 showed that Microsoft is looking to integrate crypto wallets to Xbox. source
- The KyberSwap Exploiter who stole over $46 million has demanded “Complete executive control over Kyber (the company)” through an on-chain message sent to the KyberSwap team that states their terms. Additional terms also include the "surrendering of all Kyber (the company) assets. This is both On-chain and Off-chain assets” and temporary full authority over the KyberDAO. source
- A Blast “bridge contract” parameter led to a 10% loss in slippage off a user's deposit. When a user deposits USDT or USDC, the contract automatically swaps these tokens into DAI in order to then stake in the DSR contract which provides the 5% APY. source
- StakeWise V3 launched yesterday. V3 brings a myriad of upgrades and use cases to the StakeWise protocol such as allowing any node operator and staker on Ethereum to mint their staked ETH LST, osETH. source
- Binance is piloting the first ever Crypto triparty agreement which “enables institutional investors to keep collateral off-exchange in the custody of a third party banking partner”. Additionally, the collateral can be in fiat or even US t-bills. source
- According to Coindesk, Polygon delegated sports-betting firm ‘DraftKings’ over 60 million in MATIC, who took a 100% staking commission, in exchange for publicly running a validator on the Polygon network. Polygon publicised the partnership as “the first time a major publicly-traded firm has taken an active role in blockchain governance” without disclosing said delegations. source
- Sei will be adding support for the Ethereum virtual machine (EVM) in their upcoming v2 upgrade. This will allow for backwards compatibility of EVM smart contracts and services that support the EVM with 0 changes. Additionally, Sei v2 will optimistically run all transactions in parallel. source
- A proposal written by investment firm Reverie has been posted for voting on whether to “launch a social mitigation strategy for MEV” on dYdX chain (v4). Ending on the 3rd of December, the votes so far as they stand: 18.3% in favour, 0.7% against and 81% abstaining. source
- ProShares Bitcoin Strategy ETF (BITO) has reached an all-time high of $1.5 billion in total fund assets. source
- Wormhole has raised $225 million at a $2.5 billion valuation in a funding round that saw participation from Brevan Howard, Coinbase Ventures, Multicoin Capital and Jump Trading among others. Wormhole is an interoperability protocol that offers cross-chain bridging and messaging. source
- Celsius will open partial withdrawals for holders of “Class 6A General Custody Claims' and/or Class 6B Withdrawable Custody Claims,". The holders will only be able to withdraw 72.5% of their claims and only up until February 28th 2024. source
- Velodrome’s frontend has been compromised. According to ZachXBT, the attackers have been syphoning funds to two wallets which hold $145,000 combined. source
Daily Notes: 30-11-2023
Developments
- Michael Saylor’s MicroStrategy has bought another 16,130 Bitcoin at an average price of $36,785 for $593.3 million total. This brings the firm's total Bitcoin holdings to 174,530 Bitcoin at an average price of $30,252 per coin. MicroStrategy may also be looking to raise $750 million through the sale of class A common stock. source
- Illuvium is partnering with eSports organisation Team Liquid to release themed NFTs as well as advise on the development of games in the Illuvium ecosystem and their eSports scene. source
- ParaX has rebranded under Parallel Finance as they announce a $30 million raise from Sequoia, Polychain, Blockchain Capital, Coinbase Ventures among others. ParallelFi/introducing-parallel-finance-the-first-defi-super-app-417b4392b839">source
- Sony has filed a patent that would enable players on their Playstation console to transfer digital assets to each other through blockchain technology. Similarly, leaked Microsoft documents from September 2023 showed that Microsoft is looking to integrate crypto wallets to Xbox. source
- The KyberSwap Exploiter who stole over $46 million has demanded “Complete executive control over Kyber (the company)” through an on-chain message sent to the KyberSwap team that states their terms. Additional terms also include the "surrendering of all Kyber (the company) assets. This is both On-chain and Off-chain assets” and temporary full authority over the KyberDAO. source
- A Blast “bridge contract” parameter led to a 10% loss in slippage off a user's deposit. When a user deposits USDT or USDC, the contract automatically swaps these tokens into DAI in order to then stake in the DSR contract which provides the 5% APY. source
- StakeWise V3 launched yesterday. V3 brings a myriad of upgrades and use cases to the StakeWise protocol such as allowing any node operator and staker on Ethereum to mint their staked ETH LST, osETH. source
- Binance is piloting the first ever Crypto triparty agreement which “enables institutional investors to keep collateral off-exchange in the custody of a third party banking partner”. Additionally, the collateral can be in fiat or even US t-bills. source
- According to Coindesk, Polygon delegated sports-betting firm ‘DraftKings’ over 60 million in MATIC, who took a 100% staking commission, in exchange for publicly running a validator on the Polygon network. Polygon publicised the partnership as “the first time a major publicly-traded firm has taken an active role in blockchain governance” without disclosing said delegations. source
Trending Assets and Volumes
- UNIBOT had a good day, and is up 27.24%. PRISMA is up 20.90%.
- MPL, up 12.65%, RBN, up 10.08%, and INJ, up 8.58%, are the top performers over the past day.
- RNDR, up 5.58%, and MNT, up 3.66%, were top performing tokens above $1B MC.
- OHM, crvUSD and SYN dominated trading volumes onchain today.
TVL
- rhino.fi, multichain DEX, TVL grew by 87.75%.
- Arrakis V2, multichain liquidity manager, TVL grew by 33.31%.
- Equation, derivatives on Arbitrum, TVL grew by 17.35%.
Fees
- MetaMask earned more than $7.7M USD in fees today, making it the second highest fee earner.
Full notes here:
https://x.com/asxn_r/status/1730346625132806144
Daily Notes: 28-11-2023
Developments
- Kronos Research, a crypto trading and investing firm associated with WOO, has offered a 10% white hat bounty to a hacker who stole $25 million from the firm's treasury via authorised access to their API keys. source
- Ark Invest, whose CEO is Cathie Wood, sold $5.3 million of $COIN (Coinbase’ stock) on monday and bought $1.2 million of Robinhood stock. source
- Animoca Brands has become the largest validator of the TON blockchain as it recently invested in the TON ecosystem. Animoca announced that they have and will continue to assist third party GameFi projects on TON as they seek to scale. source
- dYdX has initiated the distribution of DYDX token rewards from the chains trading fees to validators and stakers. Additionally dYdX chain has also launched its trading incentive program which offers $20 million of DYDX tokens over the next 6 months. So far the chain, which is in public beta, has done $1.86 million in volume across 14,000 transactions. source
- Some Coinbase users have received a subpoena that involves Bybit from US Commodity Futures Trading Commission regulators (CFTC). Coinbase announced that if needed, Coinbase will send information concerning the user accounts to the CFTC. source
- According to Glassnode data, ETH has turned deflationary again as ETH entering the validator queue has slowed down and the number exiting increases, alongside increased network activity which burns ETH. source
- Chainlinks priority migration period for existing users staking LINK, the project's native token, has gone live as Chainlink’s new staking pool (v0.2) goes live. The new pool has 45 million LINK (8% of total LINK supply) in rewards. The next stage will allow early access whitelisted wallets to stake in the new pool on December 7th and the pool will open to the public on December the 11th. source
- Circle’s Cross Chain Transfer Protocol for USDC is now live on Noble, an application-specific chain built for native asset issuance in Cosmos. This will allow users to send their USDC directly from other chains to all Cosmos chains that are connected to IBC like the dYdX chain. source
- The SEC has delayed both the Hashdex and Franklin Templeton spot BTC ETFs. Their next deadlines both lie on the 31st of March 2024. James Seyffart (of BBG), suspects that this could potentially be the SEC lining up the BTC ETFs for simultaneous approval in 2024. source
Trending Assets and Volumes
- RBX, a perpetuals DEX on Starknet, is up 54.15% over the past day.
- $BITCOIN is up 21.87% today. RBN is up 19.26%.
- MNT had a good day, and is up 7.77%. RNDR is up 5.43% and SNX is up 5.28%.
- No notable changes in tokens with highest trading volume onchain compared to yesterday.
TVL
- Reaper Farm, multichain yield, TVL grew by 90.81%.
- Tranchess Ether, LSD on Ethereum, TVL grew by 34.83%.
- ether.fi, LSD on Ethereum, TVL grew by 16.80%.
Fees
- OpenSea Seaport fees earned are up 267.51%. Vertex fees earned continues to climb up, now the 10th highest fee earner.
Governance
- Redacted proposal to deploy Marionette, a voting optimizer for bribe markets, on BNB Chain and support Thena’s veTHE. source
Full notes here:
https://x.com/asxn_r/status/1729632829137424582
Daily Notes: 27-11-2023
Developments
- Following a successful proposal to reduce the max inflation parameter of Cosmos’ native token ATOM from 19% to approximately 13.4%, Cosmos’ founder Jae Kwon has initiated steps and community discussion about hard forking the Cosmos blockchain. source
- KyberSwap has recovered $4.7 million of funds stolen last week with the remaining $1M going to the hacker as a white hat bounty. The funds recovered are separate from the main exploit event. source
- Last week, weekly crypto fund inflows reached $346 million. Bitcoin inflows accounted for $311.5 million (90%) of that sum. Ethereum took second place with $33.5 million, and Solana third with $3.5 million. source
- According to a Bitfinex report, 83.7% of Bitcoin holders are in profit which is the highest level seen since November 2021. Additionally 70 percent of Bitcoin’s supply has not been transacted or moved for over a year. source
- Binance Futures launched USTC perpetuals with up to 50x leverage. USTC, TerraClassicUSD was previously pegged to $1 before the Luna collapse in May of 2022. source
- Japanese Crypto Fund CGV has announced that they will be investing $5 million into the Blast ecosystem through “incubating and investing in innovative projects”. source
- Google Cloud is now among 65 operators taking part in EigenLayer’s testnet. EigenLayer is a restaking protocol whose mainnet is set for release in the first half of 2024. source
- Binance founder CZ has been denied the right to leave the US before his sentencing. source
- Magic Eden has introduced a wallet made for “Magic Eden users and cross-chain NFTcollectors”. The wallet is in closed beta and will support Bitcoin, Ethereum, Solana, and Polygon (the 4 chains Magic Eden’s marketplace supports). Users can apply for the waiting list via a link posted on their Twitter. source
- TORN, the native token of Tornado Cash, has gone down 53% after Binance announced the tokens delisting on the 7th of December 2023,. Additionally BitShares, PERLECO and Waltonchain will also be delisted on the same date. source
Trending Assets and Volumes
- BALD, up 51.87%, and GROK, up 45.41%, outperformed over the past day.
- SSV had a good day and is up 8.21%. UNI is up 1.20%.
- GROK, FLIP and LINK have the highest trading volumes on chain currently.
TVL
- Terra Bridge TVL grew by 76.94%
- Youves, synthetics on Tezos, TVL grew by 65.28%.
- BiSwap, DEX on Binance, TVL grew by 16.59%.
Fees
- Vertex is the 15th highest fee earner today, at $206.9K earned. Convex fees earned are up 189.16% over the past day. Arbitrum fees earned are down 44.91%.
Full notes here:
https://x.com/asxn_r/status/1729270687423172884
Developments
- Binance has agreed to pay $4.3 billion in total to end the DOJ’s investigation of alleged money laundering, sanctions violations and more. source
- Blast announced that they will be launching an EVM-compatible optimistic rollup L2. Blast is founded by previous Blur founder, Pacman, and will give users native yield for their ETH and stablecoins. source
- Blur users have 44 days to claim their season 2 airdrop. So far hanwe.eth has claimed the largest amount of BLUR tokens valued at $8.45 million and the second highest user claimed $7.4 million of BLUR. So far 259 million tokens (84.29%) have been claimed across 31,000 addresses. source
- Tokenized uranium has debuted on-chain via Uniswap. The token, Uranium3o8 (ticker U), is backed by Uranium from Madison Metals with each token representing one pound of physical uranium. source
- Ondo Finance’s yield-bearing, short-term treasury backed stablecoin USDY has launched on Injective’s L1. source
- The Avalanche chain has reached an all new daily transactions high of 5.75 million as Avalanche “inscriptions” (ASC-20s) have become popular. source
- Kinto, an L2 focused on providing safe access to financial services, has migrated from Ethereum to Arbitrum. Kinto aims to build a kyc-compliant layer 2 chain to support both DeFi and real world financial institutions. source
- BlackRock and Grayscale have both met with the SEC to discuss details surrounding their spot BTC ETF applications. source
- Heco Bridge and HTX (previously Huobi), have both suffered a hack which stole $86.6 million and $23.4 million respectively. The attacks are suspected to have been carried out by the same entity. HTX, who has paused deposits and withdrawals, has stated that they will cover all $23.4 million lost from their hot wallets and will resume services once their investigation is complete. source
- unshETH has released their liquid staking token blETH to represent ETH deposits in the Blast bridging contract. Users who send ETH to the blETH contract will be able to mint blETH on a 1:1 basis. However, blETH will take a “small fee” from a user’s farmed points/airdrop. source
- Coinbase has accused the SEC of “hedging and delaying” its response to Coinbase’s ask for new clear rules for digital assets, and states that “only an order by this Court will make the commission [SEC] act”. source
- Cake introduces veCAKE and gauges voting. CAKE holders will be able to stake CAKE for veCAKE which will now power PancakeSwap’s governance. Additionally, veCAKE holders will be able to vote on which gauges CAKE emissions are allocated to. source
- Mt.Gox has stated they will be commencing “cash repayments” to creditors before the end of 2023 and will continue going into 2024. Mt.Gox still holds a reported 69 billion Japanese Yen. source
- Pyth Network’s native token, PYTH, opened for trading on Monday and saw a 50% price increase in the last 24 hours. It is up 56% from its all time low. source
- KyberSwap hacker was offered a $5 million (10%) white hat bounty on the $50 million they stole. The hacker had until 6 AM UTC on 25 November to return the funds. source
- South Korea will start a 100,000 person CBDC trial in late 2024. The trial will aim to explore if CBDC’s can fix the current issues with government voucher systems like high fees and fraudulent claims. source
- As LooksRare launches their 0% marketplace and royalty fees NFT collection- INFILTRATION - they have also launched a buyback and burn initiative in tandem. source
- Aevo‘s BLAST token futures contract is trading at $4.50. source
- The company behind video game franchise Final Fantasy, SquareEnix, will be opening the NFT auction for their upcoming Ethereum blockchain based game - Symbiogenesis - on November 27. source
- DEX platform Trader Joe’s native token JOE has reached its max token supply of 500 million. Additionally, 10 million JOE tokens from the treasury are permanently locked for a total supply of 490 million JOE. source
Daily Notes: 24-11-2023
Developments
- KyberSwap hacker was offered a $5 million (10%) white hat bounty on the $50 million they stole. The hacker has until 6 AM UTC on 25 November to return the funds. source
- South Korea will start a 100,000 person CBDC trial in late 2024. The trial will aim to explore if CBDC’s can fix the current issues with government voucher systems like high fees and fraudulent claims. source
- As LooksRare launches their 0% marketplace and royalty fees NFT collection- INFILTRATION - they have also launched a buyback and burn initiative in tandem. source
- Aevo‘s BLAST token futures contract is trading at $3.40. source
- The company behind video game franchise Final Fantasy, SquareEnix, will be opening the NFT auction for their upcoming Ethereum blockchain based game - Symbiogenesis - on November 27. source
- DEX platform Trader Joe’s native token JOE has reached its max token supply of 500 million. Additionally, 10 million JOE tokens from the treasury are permanently locked for a total supply of 490 million JOE. source
- F2pool, a Bitcoin mining pool, will stop censoring transactions from addresses flagged by OFAC after Bitcoin developer 0xB10C discovered transactions being censored. source
Trending Assets and Volumes
- LOOKS, up 43.17%, SPELL, up 32.93%, were top performers over the past day.
- BLUR had a great day, and is up 32.16% - likely due to news that Binance will be listing them.
- GRT had a good day, is up 8.345. SNX is up 6.80%, potentially due to them turning off SNX inflation Infinex
TVL
- Blast, L2, TVL is up 31.72%.
- SFT Protocol, liquid staking on Filecoin, TVL is up 16.55%.
- Helix, DEX on Injective, TVL is up 13.25%.
Fees
- Convex Finance fees earned are up 584.37% over the past day. Fantom fees earned are up 367.81%.
Governance
- Gearbox proposal to separate different multisig roles and improve V3 governance in for future L2 deployments. source
Full notes here:
https://x.com/asxn_r/status/1728181064009699426
We published another short thread on Blast:
https://x.com/asxn_r/status/1727476097321722309
Daily Notes: 21-11-2023
Developments
- Binance has agreed to pay $4.3 billion in total to end the DOJ’s investigation of alleged money laundering, sanctions violations and more. source
- Blast announced that they will be launching an EVM-compatible optimistic rollup L2. Blast is founded by previous Blur founder, Pacman, and will give users native yield for their ETH and stablecoins. source
- Blur users have 44 days to claim their season 2 airdrop. So far hanwe.eth has claimed the largest amount of BLUR tokens valued at $8.45 million and the second highest user claimed $7.4 million of BLUR. So far 259 million tokens (84.29%) have been claimed across 31,000 addresses. source
- Tokenized uranium has debuted on-chain via Uniswap. The token, Uranium3o8 (ticker U), is backed by Uranium from Madison Metals with each token representing one pound of physical uranium. source
- Ondo Finance’s yield-bearing, short-term treasury backed stablecoin USDY has launched on Injective’s L1. source
- The Avalanche chain has reached an all new daily transactions high of 5.75 million as Avalanche “inscriptions” (ASC-20s) have become popular. source
- Kinto, an L2 focused on providing safe access to financial services, has migrated from Ethereum to Arbitrum. Kinto aims to build a kyc-compliant layer 2 chain to support both DeFi and real world financial institutions. source
Trending Assets and Volumes
- FTT, up 13.64%, ACX, up 9.30%, are the top performers for tokens below $100M MC over the past day.
- BLUR had a good day, up 10.05%, following the announcement of Blast L2, and the news that BLUR staking will give airdrop eligibility for BLAST.
- MKR had a good day, up 2%. They recently commenced buy backs again.
- MKR, LUSD and UNI tokens have strong volume on chain at the moment.
TVL
- Maple, multichain RWA, TVL increased by 304.41%.
- UwU Lend, lending on Ethereum, TVL increased by 233.90%.
- Scallop Lend, lending on Sui, TVL increased by 15.13%.
Fees
- Optimism fees earned are up 265.17%, PancakeSwap fees earned are up 129.32% and Raydium fees earned are up 112.79% over the past day.
Full notes here:
https://x.com/asxn_r/status/1727104577319682270
You can watch the Binance DOJ Settlement live here at 3PM ET (in approximately 30mins):
https://www.justice.gov/live
Developments
- South Korea’s National Pension Service (NPS) purchased $20 million worth of Coinbase shares (COIN). source
- PancakeSwap has released a gaming marketplace which will allow developers to integrate CAKE, PancakeSwap’s native token, and publish their games for players to enjoy. source
- BlackRock has officially filed for a spot Ether ETF with the SEC. source
- The Philippines will be offering $179 million of 1 year tokenized treasury bonds. Its interest rate is to be determined on the 20th November 2023 through book building. source
- Polygon’s gas fee skyrocketed to as high as 4000 gwei as the number of transactions on the network peaked to its highest since 2021 at 6.1 million transactions. This inflow is likely to be due to Polygon’s inscription event of PRC-20 POLs. source
- Bitcoin Ordinals NFT ‘Taproot Wizards’ announced that they have raised $7.5 million dollars in a round led by Standard Crypto. source
- Tether will be investing $500 million over the next six months to build out its own Bitcoin mining facilities in three countries. source
- Aave companies will be renamed to ‘Avara’ as it acquires a crypto wallet called “Family”. source
- 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
- 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
- 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
We published a thread on Pyth Network's tokenomics & relative valuation. You can find it here:
https://x.com/asxn_r/status/1725950566776402035
Daily Notes: 16-11-2023
Today's newsletter is sponsored by Pendle Finance.
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Developments
- South Korea’s National Pension Service (NPS) purchased $20 million worth of Coinbase shares (COIN). source
- PancakeSwap has released a gaming marketplace which will allow developers to integrate CAKE, PancakeSwap’s native token, and publish their games for players to enjoy. source
- BlackRock has officially filed for a spot Ether ETF with the SEC. source
- The Philippines will be offering $179 million of 1 year tokenized treasury bonds. Its interest rate is to be determined on the 20th November 2023 through book building. source
- Polygon’s gas fee skyrocketed to as high as 4000 gwei as the number of transactions on the network peaked to its highest since 2021 at 6.1 million transactions. This inflow is likely to be due to Polygon’s inscription event of PRC-20 POLs. source
- Bitcoin Ordinals NFT ‘Taproot Wizards’ announced that they have raised $7.5 million dollars in a round led by Standard Crypto. source
- Tether will be investing $500 million over the next six months to build out its own Bitcoin mining facilities in three countries. source
- Aave companies will be renamed to ‘Avara’ as it acquires a crypto wallet called “Family”. source
Trending Assets and Volumes
- Tough day for cryptocurrency markets overall.
- RUNE had a good day, and is up 5.70%, followed by REN, which is up 1.39%. CRV is up 0.86%.
- Large caps underperformed over the past day. AVAX has been relatively strong.
- crvUSD and RLB continue to dominate onchain trading volume.
TVL
- Maple, multichain RWA, TVL grew by 85.46%.
- Linea Bridge, TVL grew by 21.02%.
- WOO X, CEX, TVL grew by 16.60%.
Fees
- Curve DEX fees earned are up 58.98% over the past day.
- Trader Joe fees earned are up 37.14% and are in the top 20, following increased volume on Avalanche C-Chain.
Articles
- STFX has introduced staking tiers that allow traders who stake the $STFX token to increase the performance fees they earn from 15% up to a maximum of 20% on each trade they manage. This represents a potential 33% increase in profits for staking traders. STFX_IO/new-stfx-staking-utility-increased-performance-fees-4efd5f3515d9">source
Full notes here:
https://x.com/asxn_r/status/1725278912345768358