Important DeFi News
StarkWare has delayed the first unlocks of its native $STRK token to April 15th 2024
Chainlink announced Data Streams, a product offering low latency market data and automated execution, with its early access initially available on Arbitrum
OP Labs has re-integrated fault proofs, a system for connecting L2 rollups to primary L1 blockchains for added security
LooksRare, an NFT trading platform, announced their tokenomics update, with 50% of platform fees being used to repurchase $LOOKS, 10% directed as protocol rewards, and 40% sent to the treasury
Gains Network, a synthetic trading DEX, has updated their tokenomics by increasing $GNS staker revenue to 80%
Neutron introduces Side Protocol, a cross-chain liquidity network
Nomic, a L1 network on Cosmos, plans to deploy $nBTC, a native $BTC token on Osmosis. Users can mint $nBTC directly by depositing $BTC from $BTC network to Osmosis
Unibot’s FriendTech Sniper has gone live, allowing users to snipe all newly created keys or from a set list of usernames. An auto-sell feature has also been implemented for position exit based on price and time parameters
Redacted Cartel’s Pirex $ETH has gone live on Ethereum’s Goerli testnet. $pxETH is an LST that benefits from Ethereum staking rewards, MEV tips and block rewards
Bluefin, a decentralized exchange on Sui network, has launched has launched its V2 upgrade, introducing sub-second trading without a crypto wallet and cross-margin capabilities
Yield Protocol, a fixed-rate borrowing and lending protocol is set to shut down by year’s end, half a year after suffering losses from the Euler Protocol hack
Opensea introduced OpenSea Studio, a one-stop shop for creators to launch and manage their projects
TProtocol announced $USTP, a stablecoin with exposure to US Treasury yield
Stargate has obtained approval to deploy on Mantle Network, granting users access to 13 additional networks
Governance Proposals
MakerDAO is discussing onboarding $USDC and $USDT markets to SparkLend on Ethereum, and increasing $rETH supply cap from 20k to 60k
Jade Protocol is voting on dissolving the DAO and the distribution of its $31M treasury to token holders
Aave DAO is discussing an activation plan for governance V3. The update will introduce cross-chain governance for Aave and reduced gas fees
Alchemix is voting to deploy on Arbitrum. Currently the protocol is live on Ethereum, Optimism and Fantom
Metis DAO is voting on switching back to its original Optimistic Rollup transaction processing format for the launch of its sequencer pool
Compound DAO is discussing the Phase 2 of their V2 deprecation strategy, that will gradually decrease collateral factors of multiple assets and will not cause any collateral liquidations
Next Week's Alpha
Radiant Capital has rescheduled its Ethereum mainnet launch to October 15th
Frax v3 is expected to launch in the next days
Manifold Finance, an infrastructure provider, is set to launch $mevETH, a liquid staking token, on October 9th
Native $USDC is set to launch on Polygon PoS on October 10th
$IMX is set to unlock 1.55% of the circulating supply worth $10.3M on October 7th
$APT is set to unlock 1.91% of the circulating supply worth $24.2M on October 12th
News
SEC has delayed $BTC ETF decisions for BlackRock, Invesco, Valkyrie, and Bitwise to January 2024. Meanwhile, Grayscale and Arca have applied to convert their Ethereum Trust to a spot $ETH ETF
Coinbase has gained approval from the Bermuda Monetary Authority to offer non-US retail users perpetual futures trading
Ether futures ETF saw extremely low trading volume in its first few hours of trading, totaling less than $2M in contrast to ProShare’s Bitcoin futures ETF which traded $200M in its first 15 minutes
Coinbase, Ripple, GSR Markets, and Sygnum Bank subsidiary have obtained a payments institution license in Singapore
Tradfi fund VanEck prepares to roll out $ETH futures. Meanwhile, Valkyrie has halted $ETH futures purchases until after official SEC approval
Binance has sold Russian unit to a day-old crypto exchange, CommEX, and is set to shut down $BUSD lending by October 25th
Kraken, a US crypto exchange, is currently exploring offering stock and ETF trading on its platform. The service is expected to launch as soon as 2024
Celsius is currently seeking court approval to repay its creditors by the end of 2023 and has shared its plan to restart as NewCo, a company seeded with up to $450M in crypto
SEC’s motion to appeal Ripple case has been denied
A new US bill requires firms to report off-chain transactions for crypto assets
UBS Asset Management has launched a pilot tokenized money market fund on Ethereum
Ethereum’s Holesky Testnet was launched successfully
Deus X Capital, a new crypto investment firm, has launched with $1B in assets
Former FTX CEO Sam Bankman-Fried’s trial has begun
3AC co-founder Su Zhu has been apprehended in Singapore
LayerZero has partnered with Conflux to develop blockchain-enabled SIM cards, allowing an expansion to China
IOTA Network is set to debut its first Smart Contracts on ShimmerEVM, an ecosystem blockchain utilizing $SMR as its native token
Ripple has canceled its plan to buy blockchain infrastructure provider Fortress Trust
Europe’s crypto industry is seeking regulatory clarity for staking
Tweets of the Week
Asset migration study on Compound, Aave, and Spark Lend by Block Analitica
A review of Arbitrum’s STIP applications by Ouroboros Research
How Frax benefits from Arbitrum’s STIP by FlywheelDeFi