An Ape's Prologue Weekly (4 January)
Important DeFi News
Vitalik has released a 2023 roadmap for Ethereum with plans to implement EIP-4844, further improve current PoS design, and increased MEV mitigation among other things
Jupiter, Solana’s leading DEX aggregator, has planned its $JUP airdrop for the end of January with nearly 1M Solana wallets qualifying for the 40% token supply airdrop
Dymension, a modular blockchain for rollups, announced its $DYM Genesis Airdrop, distributing 7% of its total supply to more than one million addresses, with $TIA stakers eligible for most of the airdrop. This has led to a strong growth in unique $TIA stakers over the past days as it jumped to 168,000 wallets
MakerDAO, issuer of the $DAI stablecoin, is considering re-denominating its governance token $MKR to a new token code-named $NGT at a ratio of 1:24,000
Gamma, a liquidity management protocol, has been exploited for $3.4M according to PeckShield, and deposits for its public facing vaults have been shut off to nullify the attack. DEX protocols Camelot and Algebra are at risk and have advised users to withdraw their positions
Curve Finance, a stablecoin swap protocol, has integrated ZetaChain, enabling native token swaps between different chains and wallets
Unibot, a telegram trading bot, has launched on Solana, and is currently in early access phase with a public launch set for tomorrow
Orbit Chain, a bridge protocol, was exploited for $81.5M, but the stolen funds have remain unmoved
Radiant Capital, an omnichain lending protocol, lost $4.5M in $ETH due to a recent flash-loan exploit
Synthetix, a synthetic asset protocol, saw $SNX stakers losing $2M through a market manipulation attack on $TRB
ByWassies, an NFT project by CT influencer loomdart, is set to launch its $PILL meme token on Blast upon the chain’s launch, with 80% of its supply being airdropped to Wassies NFT holders
Ethena, a yield-bearing stablecoin protocol, has achieved 100M $USDe supply and is set to go live on mainnet this month
ZeroLiquid, a self-repaying LST loan protocol, has burned 25% of its token max supply worth $450k
Tarot Finance, a multi-chain lending protocol, announced TNX, a limit orderbook DEX on Fantom Sonic to be released in 2024
Governance Proposals
PancakeSwap has successfully passed the vote to burn 40% of the total $CAKE supply worth $963M
Frax DAO is requesting to whitelist $FXB for its Frax Curve AMO to diversify yield strategies and opportunities
Livepeer DAO has received a proposal requesting 25k $LPT to bring Generative AI Video to the network
News
The SEC may possibly notify $BTC ETF issuers about their application approval days before the 10th January deadline
Matrixport released an opinion that all Bitcoin ETF proposals are likely to be denied this month, with approvals happening only in Q2 2024. The report triggered a market wide selloff with $BTC falling 11% and some alts dropped 30% within a span of two hours
Crypto exchange volume passed $1T in December 2023 for the first time since December 2022
TVL across DeFi protocols have surged past levels last seen before FTX’s collapse back in November 2022
US crypto users are required to report transactions above $10k to the IRS effective 1st January
$LUNA and $MIR have been labelled as securities by a US judge
China has warned its public against $USDT and plans to introduce stablecoin licenses for stricter regulation
Crypto phishing losses in 2023 amounted to nearly $300M according to blockchain security firm Scam Sniffer
Coinbase International Exchange has capped trading leverage at 10x for its perpetual futures products
Etherscan has acquired Solscan
South Korea is proposing to ban credit card payments for crypto
Huobi Korea will be discontinuing services in the country on 29th January