Important DeFi News
Polygon has proposed the Polygon 2.0 architecture, which aims to consolidate and integrate current technological ideas and discoveries. Polygon developers are also preparing for the Inborg Upgrade, which will improve network stability by eliminating a network bug
Vesta has passed a vote to upgrade to V2, introducing revamped staking infrastructure and a new interest rate framework among other upgrades
Sommelier has integrated with Morpho Labs, expanding yield opportunities for Sommelier vaults
Yearn is bootstrapping $yETH, a token backed by a basket of LSTs
Blur V2 is live, introducing a 50% reduction in trading cost and trait bidding
GND Protocol’s $zGND is live, introducing a liquid staking option for $GND users
Pendle Finance is live on BNB Chain
Archway, a multi-chain L1 launchpad, has launched its mainnet
Chronos Finance’s fNFT marketplace is now live on Arbitrum
DeFi protocol AlloyX has launched a RWA vault offering exposure to US Treasury Bills
Threshold Network’s $tBTC is now live on Polygon
Loopring L3, a wallet protocol, is now live on Taiko’s zkEVM testnet
deBridge is live on Solana, bringing interoperability between Solana and EVM blockchains
Cadence Protocol, a decentralized perps trading platform, testnet is live on Canto
DEX aggregator 1inch sold 11k $ETH to test new features of its protocol upgrade
Surge Finance, an oracle-less lending protocol, is now live on Arbitrum
VVS Finance, a decentralized trading platform, is now live on Cronos
Azuki has teased a new anime series artwork following the failure of their Elementals mint
The proposal to migrate the Efinity parachain to the Enjin blockchain has been approved, along with a 4:1 token swap ratio of $EFI to $ENJ
Governance Proposals
Aave DAO is currently voting in favour of a proposal to convert 1.6k of its treasury's $ETH into $wstETH and $rETH. Additionally, Aave DAO has also proposed to trial private Snapshot voting for a two months, which will prevent intimidation and protect voter’s privacy
Camelot DEX has submitted a proposal on Arbitrum governance requesting for 12M $ARB over six months to support adoption of native dapps
Convex DAO is voting to reduce min gauge vote weight by 50%, incentivizing greater participation in bribing reward gauges
Origin DAO is voting to convert a third of its $rETH (900 $rETH) holdings for $wETH
Maker DAO has proposed to launch Spark Protocol on Gnosis network
Abracadabra DAO is discussing the formation of a centralized legal entity
Next Week's Alpha
Prisma Finance, an LST-backed decentralized stablecoin protocol, will launch soon, and will support 5 LST tokens at launch which are $wstETH, $cbETH, $rETH, $sfrxETH, and $WBETH
Starknet, an Ethereum L2 network, is scheduled to launch its ‘Quantum Leap’ upgrade on July 13th. This upgrade will increase the transactions per second on the network
Kava 14, an EVM compatible blockchain on Cosmos, is set to go live on July 12th, and will feature internal bridging of assets between Ethereum and Cosmos
$APT is set to unlock 2.17% of circulating supply worth $35.6M on July 12th
Chronos Finance V2, a DEX on Arbitrum, will go live on July 17th
Coinbase L2, Base, is close to mainnet launch
PancakeSwap plans expansion to its fourth network, Polygon zkEVM
ENS plans expansion to Ethereum L2s
GMD Protocol, a yield aggregator, is set for round 2 of their airdrop
The airdrop snapshot for SpartaDEX, a gamified DEX on Arbitrum, has been taken, with 2% of 100M total token supply allocated for airdrop.
News
Celsius is set to potentially sell more than $170M in altcoins for $BTC and $ETH
BlackRock and Fidelity are among applicants that have submitted fresh filings for spot $BTC ETF, naming Coinbase as the surveillance sharing partner
CME Group is set to launch a futures contracts for trading $ETH to $BTC ratio
Mega gaming developer Sega is set to launch its first web3 game, Sangokushi Taisen
Canadian ETF issuer 3iQ has partnered with Coinbase to offer $ETH staking
The SEC vs Coinbase case has been moved up to July 13th, which is earlier than expected. Meanwhile, crypto exchange Bittrex is seeking the dismissal of SEC’s lawsuit
Binance will suspend transfers of tokens related to Multichain, and application for season 6 of Binance Labs’ incubation program is now open
Hong Kong has established a task force to advance Web3 development
Circle CEO is contemplating issuing stablecoin in Japan due to recent legislation implementation
Crypto firms in Singapore have been ordered to keep customer assets in a trust by year end
Singapore bank DBS has launched a platform allowing settlements in China’s CBDC, e-CNY
UK government has passed a bill authorizing the seizure of crypto assets used for crime
Crypto exchange Kraken was ordered to turn over transaction history and account information to the IRS
Revolut US is set to delist $ADA, $MATIC, and $SOL in September
Goldman Sachs has reported a 4% drop of $BTC and $ETH held on exchanges in June
Litecoin has surged as blockchain hash rate reaches all time high and also on the back of impending halving event
Tweets of the Week
Celsius’ altcoin holdings update by An Ape’s Prologue
Significant token unlocks for July by An Ape’s Prologue
$FXS: Coiled Spring by Ouroboros Research
Implications of UDL on Arweave by sam.arweave.dev