Important DeFi News
$USDT market cap has hit an all-time high of $83.2B, as it captures market share from $USDC and $BUSD and reports a record profit of $1.48B in Q1
$DAI holders are now able to earn up to 3.49% in risk-free yields after MakerDAO passed a governance proposal to increase de DAI Savings Rate (DSR) limit
Rocket Pool is now the first liquid staking protocol to be deployed on zkSync Era, with $rETH staking rewards being accrued automatically
Stargate will reduce exposure to Multichain-issued $anyUSDC, removing $11.4M of liquidity
$crvUSD pools on Curve have started earning $CRV rewards
Fantom’s Gas Monetization program is now live. Eligible dApps will be able to recover 15% of gas fees generated by their smart contracts
Starknet has announced dynamic NFTs that are able to interact and transform according to on-chain events
Bitcoin Miladys has released a one-way bridge for Ethereum NFTs to Bitcoin
$LVL is now supported on Arbitrum, with the launch of Level Finance set to occur soon
$PIKA, a decentralized perps trading protocol, is live on Optimism
Blend has seized 82% share of the NFT lending market just one month after launching
Tornado Cash passed its attacker’s proposal to return governance control to $TORN holders
Arbitrum-based DeFi protocol Ede Finance has admitted to manipulating prices on its protocol after being hacked for $580k
Astaria, an NFT lending platform, has launched its lending product. The platform currently supports borrowing against 11 NFT collections
KyberSwap announced $KNC and $ARB liquidity mining rewards for Arbitrum Elastic pools
QiDao has released QiDao Pro, an update offering improved website experience for users
Jimbos Protocol was exploited for $7.5M three days after the V2 launch
FARE Protocol, a probability platform for smart contracts, is live on Arbitrum testnet
$NTRN’s airdrop is live and vested over 3 months, with users being allowed to unlock 50% of airdropped tokens by participating in the lockdrop starting on May 31st
Trader Joe will incentivize the $WOO/$ETH LP with $WOO rewards from May 31 to June 13
PlutusDAO is set to launch $plsARB/$ARB liquidity pool on Camelot
Caviar has opened V2 to public, allowing users to exchange NFTs from a pool
LayerZero has deployed on Tenet Protocol and Canto
Native $USDC will be coming to Celestia rollups
unshETH was exploited for $375k, with the attacker agreeing to return 87% of the funds
$MIM has gone omni-chain through LayerZero
$200M of the $BabyDoge memecoin was burned on Ethereum
Governance Proposals
Uniswap DAO proposes to deploy V3 on the Filecoin FVM
Stargate DAO is voting to add Circle’s $EUROC stablecoin to Stargate on Ethereum and Avalanche
Wintermute is proposing to market-make $FORTH for the Ampleforth DAO
Synapse Protocol is discussing to reduce annual protocol emissions by 25%
OlympusDAO is voting to list $OHM on Sentiment on Arbitrum
dYdX is voting to fund its Operations Trust with $6.6M
MakerDAO is voting to onboard rETH to Spark Protocol
BendDAO is discussing to reward $BEND to ApeStaking V2 participants
QuickSwap DAO is discussing directing 100% of Gamma V3 fees to the Foundation to fund growth for 12 months
Next Week's Alpha
Bitcoin’s maturing Ordinals scene is getting a dollar-backed stablecoin
Level Finance, an on-chain perpetual trading platform, is set to expand to Arbitrum in June
SpartaDex, a gamified DEX on Arbitrum, is set to launch as early as June
Raft, a decentralized stablecoin protocol, is set to launch soon
Vega Protocol Alpha Mainnet is set to be upgraded in H2 2023 and feature live trading on its platform
Alchemix is working on an upgrade, promising new tokenomics and launching on both Arbitrum and Optimism
UniDex's leverage protocol is scheduled to undergo upgrades, which will result in the closure of all existing trades in two weeks
Equilibria’s IDO claims and DEX listing will occur on June 2nd, with a full launch of the protocol set to occur on June 6th
$1INCH is set to unlock $92.7M (16.7% of total supply, or 30.6% of marketcap) on June 2nd
$SUI is set to unlock $57.8M (0.6% of total supply, or 11.6% of marketcap) on June 3rd
$DYDX is set to unlock $13.0M (0.7% of total supply, or 4% of marketcap) on June 6th
Noble will launch native $USDC for the Cosmos ecosystem
Circle will launch native $USDC on Arbitrum on June 8th
News
Circle has launched $EUROC, a native Euro stablecoin on Avalanche
$ETH balance on centralized exchanges has neared an all time low while the amount of staked $ETH surges
Brazil’s central bank has selected 14 institutional participants for its CBDC pilot
Etonec and Mina Foundation is set to roll out a new ZK proof-powered regulatory compliance tool for DeFi and Web3 by the year end
Helium Foundation has partnered with Oxit to create Oxtech Module, allowing IoT devices to connect to the Helium Network and Amazon Sidewalk
TradeBlock, DCG’s trade execution and prime brokerage unit has closed down, citing crypto winter and regulatory uncertainties
Beijing has released a Web3 whitepaper to promote the industry’s development as Hong Kong crypto trading platform rules come into effect this week
Worldcoin announced the completion of a $115M fundraise lead by Blockchain Capital
F1 ticket provider Platinum Group has introduced NFT tickets for racing events
1inch hardware wallet is in development
Huobi has applied to be registered as a regulated crypto exchange in Hong Kong
A joint venture between Gulf Innova and Binance have obtained Thai regulatory approval and will begin to offer crypto services in the country later this year
Hong Kong police has launched a metaverse platform, ‘CyberDefender’, to promote crime prevention in the metaverse
Bybit has obtained pre-approval to operate in Kazakhstan as a crypto custody service provider
Gemini has picked Ireland as its European base while seeking a UAE crypto license in a bid to escape US “hostility”
Gemini has filed for the dismissal of SEC’s lawsuit against their Earn product
Cronos Labs has announced the launch of its second batch of $100M Web3 accelerator program
Coinbase is set to support $OSMO on the Osmosis network
The European Central Bank has finalized prototypes for a digital Euro, as a decision on development approaches
$BTC fee revenue for the month has soared due to Ordinals
Crypto storage firm Qredo’s self-custody institutional wallet is live and available to all users
Bware Labs, offering performance API within Web3, launches $INFRA token
Crypto exchange TrigonX, which was affected by FTX collapse, is set to relaunch
Japan has launched its CBDC pilot project after a second successful proof-of-concept
Sandbox announces partnership with novel Le Petit Prince to bring unique experiences to novel readers
UAE central bank has issued AML/CFT guidelines for crypto businesses
Team members of Stablecoin issuer Trust Reserve have reportedly been detained by China police
Following Binance, Bybit is set to depart from the Canadian market in wake of regulatory developments
Moonpay insiders has cashed out $150M during Series A raise that valued the company at $3.4B
Nansen has announced a 30% reduction in headcount in light of current market conditions
Binance is exploring the option of letting clients keep some collateral in banks
Tether has invested in sustainable $BTC mining in Uruguay and Georgia Investments to expand to payment processing
Binance is set to delist privacy coins in four European countries
Binance is rumoured to be laying off staff
Mercedes Benz is set to release NFT collection with Fingerprints DAO
Chainalysis acquires real-time crypto data company Transpose
OPNX, a bankruptcy claims exchange, has issued a new governance token $OX. The platform’s existing native token, $FLEX, can be converted to $OX at a 1:100 ratio
Crypto.com has obtained digital token license in Singapore
Kraken sees 25% increase in Canadian deposits after Binance departure
Hong Kong trust company is set to launch USD stablecoin $FDUSD
Circle has removed all US Treasuries from $USDC’s $24B reserve fund
Crypto wallet provider Magic has raised $52M
Venture capital Tribe Capital seeks to raise $100M fund
Crypto trading firm Cumberland to halt trading of Filecoin
Tweets of the Week
Oracle-Free Protocols thread by Dan Elitzer
OP Unlock Overview by An Ape's Prologue
Starknet Transaction Speed Analysis by DeFi Ignas
Perpetual Dex Overview by An Ape's Prologue
Summary of Chinese Web3 White Paper by Milestones_NFT