An Ape’s Prologue Weekly (20 Jan)
Next Week’s Fundamentals
$SHIB team has confirmed their L2 Shibarium is launching soon. It promises fast and cheap transactions, with gas fees paid in $BONE
$RPL ongoing proposal to onboard rETH to Aave V3, allowing a new alternative for Aave users as currently only LDO's stETH is available as collateral
$AAVE's GHO stablecoin public testnet launching soon, followed by Aave V3 deployment on Ethereum, which will allow greater capital efficiency and increased decentralization
$CRV stablecoin launch expected to happen by late January
This Week’s Fundamentals
Optimism flippens Arbitrum in user activity after the Bedrock testnet upgrade, which will allow faster and cheaper fees, as well as enhanced security
$SUI Testnet Wave 2 announced, with a focus on tokenomics and stake delegation. This could be an airdrop opportunity
$ENS DAO proposal to sell 10,000 ETH into USDC to cover operational expenses
MakerDAO has an ongoing proposal to partner with Paxos to generate yield on its assets, with up to $29M in additional protocol revenue, and reducing more of their USDC exposure
$FXS assumes the 4th spot amongst LSDs, increasing its market share to 1% as it presents itself as the most attractive choice with the highest staking APR
Sushi 2023 roadmap released, now with a focus on sustainability and user experience
Trader Joe announces a tokenomics revamp. It now aims to become a multichain token, supporting Arbitrum and BNB. It will also implement a fee-sharing mechanism with stakers
Osmosis v14 upgrade on January 23, enabling upgrades for future cross-chain swaps, as well as allowing enhanced security and more efficient prices
$RNDT migrates to v2, with a focus on being the highest fee-generating protocol
$GMX synthetics launch on the horizon, as it had the first merge commit after 4 months of development
TRUMP Digital Trading Cards NFT collection doubles in price after Trump announces his return to Twitter and Facebook
Electric Capital 2022 Developer report highlights a significant growth in active crypto developers despite the bear market, with a large increase in the Solana, Polygon and Cosmos ecosystems
Genesis files for bankruptcy. Amongst its top creditors are Gemini, Mirana (Bybit), Decentraland ($MANA) and Cumberland
FTX Resurrection: FTX's restart is a real possibility per the new CEO John Ray III as the exchange is still highly regarded by past users. This could be positive for FTX-related tokens such as $FTT, $SRM and $RAY
FTX Balance Sheet Revealed: the $OXY, $SRM, and $MAPS circulating supply may be severely over-reported, as most of them are essentially locked
Tweets of the Week
Adam Cochran’s annual aping list in a 268-long mega-thread
Ram Ahluwalia and the investigations into the due diligence process of FTX investors
Electric Capital’s annual developer report
Thor Hartvigsen’s DeFi’s Alpha Research Tools
Alfa’s comprehensive coverage of the leverage inside the crypto ecosystem