Important DeFi News
dYdX Chain has officially launched, and is set to distribute 100% of network fees to validators and stakers
Polygon’s $POL token upgrade is live on Ethereum; the token migrator contract for $MATIC to the new token is also currently integrated on various dApps
Celestia, a modular data availability network, has gone live on mainnet with the $TIA airdrop accounting for 14% of total circulating supply
Arbitrum Orbit is live, allowing developers to permissionlessly build customized chains on the network. Celestia is set to be integrated into the Orbit software stack
Starknet Foundation has announced a distribution of 50M $STRK to early Starknet community members. Applications will be open from November 23rd to December 29th
LayerZero has integrated $wstETH with its OFT standard, making it bridgeable across four networks. Lido has since cautioned users that the bridge is not endorsed by protocol
EtherFi has announced native $ETH staking on Polygon zkEVM, allowing stakers to receive the same benefits as mainnet stakers with the benefit of optimized fees
SnowTrace, an Avalanche blockchain explorer, is set to shut down its website
$FLOKI has launched TokenFi, allowing users to launch ERC-20 and BEP-20 tokens without writing code
Mantle has partnered with TON Foundation, providing TON’s Community Bot access to Mantle’s ecosystem
PancakeSwap has launched a new DEX feature Position Manager, enabling users to automate LP strategies and compound LP rewards without gas fees
Elixir Protocol, an algorithmic market making protocol, is set to open $USDC deposits for whitelisted users. LPs will earn boosted $VRTX rewards supplemented with $ARB from the STIP grant for the first three months
Synapse X, a modular bridging update, is live, enabling greater bridging efficiency of any stablecoins through external pools
Thetanuts Finance, an options protocol, has announced V3, featuring a new AMM and lending and borrowing markets that will provide liquidity to the entire ecosystem. They will launch V3 Incentivized Alpha for selected users in early November
Hyperliquid, a perp DEX, has launched a 6 months points program which could lead to an airdrop for users
Renzo Protocol has introduced Renzo, a liquid restaking token strategy manager for Eigenlayer featuring simplified restaking for the end user, and $ezETH, their yield-bearing liquid restaking token
Level Finance has announced Level 2.0, featuring an on-chain orderbook and market making as a service on the protocol. The testnet for the orderbook feature is live, with Level 2.0 beta set to launch in Q2 2024
Governance Proposals
Arbitrum DAO is voting to activate $ARB staking
Sushi DAO has proposed a governance overhaul, reverting to previous model with 100% of fees going to $XSUSHI stakers
ApeCoin DAO is voting to enable app payments with $APE
Aave DAO is discussing strategies to maintain their stablecoin $GHO’s peg and increase usage of it
Goldfinch DAO is proposing incentivizing growth by reducing interest fees for new pools from 10% to 0%
Lido DAO is discussing adopting Composable Finance’s IBC bridge after it launches on Ethereum for $stETH bridging
News
FTX wallet has moved a total of $127.5M to centralized exchanges since October 26th
Mastercard has partnered with MoonPay to explore providing Web3 services
JPM Coin, JPMorgan’s permissioned blockchain-based intra-bank payment system, has processed $1B in daily transactions
Gensler has said that crypto firms should be subject to the same rules as traditional finance
Kraken is legally mandated to share user information with the IRS, and has suspended trading for multiple assets such as $USDT, $DAI, $WBTC, $WETH, and $WAXL in Canada
UK bill to seize illicit crypto has become law, and has published final proposals for crypto regulations
Circle to stop supporting stablecoin minting for individual accounts
Tether attestation has indicated 86% of cash and cash equivalent in reserves
OKX proof of reserves shows exchange is overcollateralized
Justin Sun has claimed a record $98M profit for HTX despite staff cuts
Bitfinex Securities is set to launch tokenized bond offerings in November. In other news, Bitfinex was listed as an unauthorized firm by UK regulators
Bittrex US, a crypto exchange, has obtained court approval for its bankruptcy plan
Taiwan has proposed its first bill regulating crypto assets and stablecoin
Binance market share has declined from 74% to 50% since December 2022
Singapore, Japan, UK, and Swiss regulators are planning for asset tokenization pilot programs
Gemini has sued bankrupt lender Genesis for $1.6B GBTC
VanEck, Valkyrie, and 6 other asset managers has amended their spot $BTC ETF application
Terraform Labs and Do Kwon has applied to dismiss their SEC lawsuit
Neo, a L1 network developer, is expecting to launch the testnet of an Ethereum-compatible sidechain for its network N3 by the year end
Hong Kong has advanced their CBDC pilot to phase 2
Ryder Ripps to pay Yuga Labs $1.6M for copyright infringement
FTX founder Sam Bankman-Fried’s criminal trial has moved to closing arguments
Google Cloud’s BigQuery has integrated Solana data
Tweets of the Week
The different types of L2s by Vitalik Buterin
Why the $BTC bear market is over by Arthur Hayes
$TIA’s airdrop analysis by An Ape’s Prologue
Chainlink research report by Picolo Research