Important DeFi News
Frax Finance is on the move with two major developments: the imminent launch of Fraxchain, a hybrid L2 that uses $sfrxETH as gas fees, and the founder's support for Ouroboros Capital’s token buyback proposal, which could see protocol revenue increase due to $frxETH offerings, future L2 sequencer fees, and borrow & AMO fees
BNB Chain announced opBNB, an L2 based on Optimism’s OpStack, with a live testnet
Curve Finance is actively working to increase the $sfrxETH mint cap for $crvUSD
RWA TVL surged on Ethereum, with tokenized securities leading at 29% or $220M in TVL
Level Finance went live on Arbitrum and closed a $20M strategic investment by an asset management firm
ZK Rollups like Starknet, zkSync Era, and Polygon zkEVM reached all-time highs in TVL in the past two weeks
$USDC's market cap has grown by 1.8% since Coinbase began offering 4% rewards on $USDC deposits
$BUSD has fallen below $DAI in market cap following large redemptions
Ambient Finance, an innovative DEX with a unique AMM design, is now live on Ethereum
MakerDAO announced its DSR-enabled $DAI known as $sDAI, with 3.49% APY, and re-purchased $700M US Treasuries to back $DAI
Stablecoin protocol Reserve is expanding its governance power through the acquisition of $20M worth of $CVX, $CRV, and $SDT
Immutable's game, Gods Unchained, has launched on the Epic Games store
GND Protocol has announced its own LST product, $gETH
Zunami Protocol introduced its $ETH pegged stablecoin product, $zETH
Stargate DAO’s vote to deploy 1.67M $ARB passed with 70% dedicated to reducing $STG emissions for liquidity mining and 30% for a year-long partner integrations program
Unidex announced v3, featuring the first-ever leveraged aggregated perpetual products
Ethscriptions, an NFT concept similar to Bitcoin’s Ordinals protocol, is now live on Ethereum
JonesDAO has integrated Socket, facilitating $JONES to be zapped into j-assets strategy vaults across different chains
Aura Finance has launched on Arbitrum, and rumors suggest expansion to Optimism after applying for $OP grants
Y2K Finance released a whitepaper for Wildfire, an orderbook financial derivative
Premia Blue will introduce concentrated liquidity, range orders, and smart liquidity management
Kwenta has listed $stETH perpetual trading on their platform
Tenet Protocol, a stablecoin protocol backed by LSDs, launched its $LSDC stablecoin testnet
Shiba Inu plans to introduce Shibacals, linking RWA to NFTs on their L2 Shibarium
Governance Proposals
Lido Finance is considering implementing a tiered rewards-sharing program.
Proposals on Curve Finance aim to add $wETH and $wBTC markets, each with a 200M $crvUSD debt ceiling.
Aave DAO is gauging interest in integrating Maker’s DSR into the V3 pool.
Frax Finance has proposed a fee increase of 50% for all sunset pairs on Fraxlend.
Stargate DAO is considering integration with Aave to enable cross-chain borrowing on the platform.
Alchemix is discussing the replacement of the Multichain bridge with Connext, along with phasing out Fantom support.
Chaos Labs proposes an incremental reserve factor for Aave V2, aiming to encourage user migration to V3.
A proposal was submitted to upgrade Polygon PoS to a zkEVM validium.
A proposal was put forth to deploy Compound V3 on Base.
Raft Finance, a decentralized stablecoin protocol backed by LSDs, proposed the addition of $OETH and $rETH as stablecoin collateral.
Despite the proposal's failure to freeze and set $CRV LTV to 0 on Aave V2, a new proposal is under discussion to gradually decrease the LTV of $CRV.
The Uniswap committee approved Wormhole and Axelar for potential cross-chain deployment
Next Week's Alpha
$OSMO is planning a 50% cut in inflation and intends to implement fee sharing in its forthcoming 2.0 update.
$GMX V2 will launch soon, introducing synthetic assets, isolated pools, and integrating Chainlink's low-latency oracles.
$RON is set to unlock 6.4% of the circulating supply, worth $13.5M, on June 27th
$OP is set to unlock 0.6% of the circulating supply, worth $35.0M, on June 30th
Tapio Finance, an LST LP token ecosystem, is gearing up to launch its incentivized testnet.
Aave's $GHO stablecoin is expected to make its debut in the near future.
Sushiswap is preparing to launch SushiXSwap V2, which will allow for cross-chain swaps.
Starknet has planned the launch of zkEVM ‘Kakarot’ testnet for August.
Zora, an NFT creation platform, is planning to launch its L2 network.
The gaming-focused L3 Xai is set to launch on Arbitrum.
Rumors suggest that Ethos Reserve, a lending platform, plans to expand its services to Arbitrum.
$USDT is preparing to deploy on Kava, bringing the stablecoin to the Cosmos ecosystem
News
BlackRock, Invesco, WisdomTree, and Valkyrie Funds filed for a Bitcoin ETF
Ripple secured Major Payments Institution License in Singapore
EDX Markets, a crypto exchange backed by Citadel, Fidelity and Schwab launched in the US
Reports emerged that Chinese securities partially backed $USDT in the past
EU regulators are preparing to launch MiCA consultation in July
Blockchain Association requested information regarding SEC’s approval for crypto company Prometheum
Coinbase announced it will redeem $64.5M convertible notes at a 29% discount
CoinEx exchange was shut down, with $1.7M in crypto assets seized
DWF Labs and TRON partnered with DWF Labs becoming liquidity providers on TRON
3AC liquidators seek to sanction Kyle Davies for ignoring subpoena
Reports surfaced that Crypto.com was operating internal proprietary trading desks
Bakkt joined Robinhood, eToro in de-listing major altcoins like $SOL, $MATIC and $ADA
Ethereum developers are considering raising the maximum validator balance from 32 ETH to 2048 ETH
IMF is reportedly working on a global CBDC platform concept
Crypto investment products saw nine consecutive weeks of outflows
Japan’s crypto exchanges are lobbying for relaxed margin trading restrictions
Alibaba’s pro-crypto co-founder is expected to take over as chairman of the company
Binance launched zero maker fee promotion for $TUSD pairs
Etherscan launched its beta AI-powered Code Reader to aid users in comprehending smart contract code.
Polygon launched Polygon Copilot, an AI interface powered by ChatGPT to assist developers.
ZachXBT has received $1M in donations for a defamation lawsuit defense
Mastercard filed a trademark application to develop crypto and blockchain software
Binance launched a regulated platform in Kazakhstan
Ledger released the white paper for the hardware wallet seed recovery tool
Tweets of the Week
Curve liquidation risk by An Ape’s Prologue
A short analysis of $ETH staking queue by Tom Wan
Proto-danksharding by Christine Kim
Thought experiment on $SNX death spiral by kain.eth
CoinEx was ban from US, not shut down I think.