An Ape's Prologue Weekly (8 February)
Important DeFi News
Wormhole has announced their $W tokenomics, enabling token holders to participate in Wormhole DAO governance. 17% of 10B total supply will be airdropped to users, with 11% set to be unlocked at TGE
EigenLayer has reopened uncapped deposits for LSTs and introduced support for 3 new LSTs, and will close deposits on February 9th
Renzo Protocol, a cross-chain restaking hub built on EigenLayer, is set to enable native $ETH restaking on Arbitrum. The protocol currently supports $ETH, $wBETH, and $stETH deposits on Ethereum
Ethereum’s Dencun upgrade is live on Holesky testnet, with the mainnet launch set to be announced soon. The upgrade will feature improved and scalable data processing for Eth L2s
Fraxtal, Frax Finance’s modular L2, has launched their testnet and mainnet for developers, and will expand for normal users in the coming days. The launch will feature $FXTL points for future rewards, incentives, and airdrop
Synonym Finance, a cross-chain money market, is live on Arbitrum, Ethereum and Optimism, featuring cross-chain lending and borrowing. $NEWO holders can convert their tokens to $tSYNO on a 1-for-1 basis, which is staked $SYNO that can be unlocked 15 months after TGE
ERC-404 tokens, an experimental token standard created by merging ERC-20 and ERC-721 token properties, may lead to new NFT innovations but is extremely risky as it is unaudited
StakeEase, a cross-chain restaking aggregator, is live on beta mainnet, enabling LST deposits on EigenLayer from multiple networks in a single interface
Pyth Network, an oracle network provider, will launch their Phase 2 Retrospective Airdrop today, distributing their tokens to 160 dApps utilizing Pyth Data. However, they have not disclosed the total amount of tokens distributed
Lyra, an options trading network, has announced $17.9M V2 trading rewards spanning 96 weeks, and will launch 15% taker rewards every epoch, referral programs, and retroactive airdrops
Moby, an ICO service platform, has reached their 3.8k $ETH public sale goal worth $9.2M in 36 minutes, and will release TGE information soon
Origin Protocol, a DeFi products platform, will launch $primeETH soon, an LRT that can be minted by depositing $OETH, $stETH, $mETH, $sfrxETH, and $ETHx
0xngmi, Defillama’s developer, has launched smolrefuel, a contract enabling gasless token swaps to $ETH for tokens that support permits
Dymension, a Cosmos modular network, is live, and will introduce deployment of RollApps soon, which are permissionless IBC-rollup
Governance Proposals
Treasure DAO has received a partnership proposal by Matter Labs to launch a gaming L2 on zkSync and Skale Network
Compound DAO is discussing to deploy V3 on Optimism
ApeCoin DAO is voting on building and deploying ApeChain. The vote is set to pass, with 95.5% of the votes in favor of the proposal
News
SEC has delayed $ETH ETF decisions for applicants, with the earliest deadline for $ETH ETF response being May 23rd for VanEck’s application
MicroStrategy has acquired 805 $BTC in January, bringing their total holdings to 190k $BTC worth $8.1B
ENS has partnered with GoDaddy, enabling users to associate an Ethereum address with their DNS domains for applications in the ENS ecosystem. They are also rumoured to launch their own Optimistic L2
Solana’s network has restarted after a 5-hour outage February 6th. The network saw 12M in monthly new addresses for January, and their latest Chapter 2 phone has also achieved 60k preorders
MetaMask has incorporated Robinhood for easier crypto purchases
Genesis is seeking court approval to sell $1.6B in $GBTC, $ETHE, and $ETCG assets, and has faced backlash from DCG claiming that the proposed bankruptcy plan overpays claims
BlockFi and 3AC has reached a settlement but has sealed the details of the agreement
Multicoin Capital to sell $100M of its FTX bankruptcy claims
OPNX, a derivative trading platform by 3AC founders Su Zhu and Kyle Davies, is set to shutdown and be replaced by new exchange OX.Fun which uses OPNX’s token $OX as collateral for trading
Binance has offered a $5M bounty to identify employees who leak listing information
South Korean regulators are set to discuss spot $BTC ETF with US SEC. Meanwhile, Hong Kong will release the consultations for the proposed regulatory framework for crypto OTC platforms
VSFG, a finance firm in Hong Kong, has applied for spot $ETH ETF
OKX has launched exchange and crypto wallet services in Argentina, but is facing a potential probe for offering unregistered services in South Korea
Bybit has launched a BRC20 Marketplace
Polygon Labs has laid off 19% of its staff