Important DeFi News
The Optimism Bedrock upgrade, which promises a 40% reduction in transaction fees, has been successfully completed
Curve Finance has launched an $stETH market for $crvUSD and raised the debt ceiling from $10M to $150M
Starknet is set to integrate LambdaClass’s tech which will reduce transaction fees by 85%
Decentralized stablecoin protocol Raft is live, offering $R stablecoin backed by $stETH
Multichain's outage has reportedly been rectified, and bridging for previously affected chains have resumed
A software bug on Arbitrum halted blockchain processing, but the issue was fixed several hours later
Institutional Lending protocol Defactor has tokenized $100M in bonds on Polygon
Digital asset infrastructure provider Taurus, backed by Credit Suisse and Deutsche Bank, has deployed on Polygon and is set to offer institutions tokenization of RWA
Camelot DEX had detected and mitigated a potential issue with its V3 AMM. The redeployment of its V3 contracts is still pending
Cryptex Finance V2 is live, allowing trades against the total crypto market cap
Chronos announced V2, introducing improved UX and UI, detailed live analytics, concentrated liquidity for LPs, and doubled $CHR emissions
Aevo, a derivatives platform, has renewed their Taker Incentive Program for traders, rewarding their most heavy traders
Sushiswap V3 has launched on Avalanche and ThunderCore, an L1 blockchain
LayerZero is live on Arbitrum Nova mainnet
Governance Proposals
Balancer to vote on allocating their 3M $ARB as a combination of LP incentives and as protocol owned liquidity
Gnosis Safe community are proposing to make $SAFE transferable
Synthetix is voting to create an $stETH perps market on Perps V2
Uniswap DAO is discussing to allocate 500k $ARB for LM incentivization on Arbitrum
Aave is taking a temperature check on directing 20% of $GHO revenue to Aave Safety Incentives, allowing stakers (StkAAVE and StkBPT) to earn both $AAVE and $GHO tokens
Gelato DAO is proposing to utilize 42% of treasury $GEL ($25M) to accelerate growth
Alchemix is proposing to build a veDAO launchpad that will raise funds for DAO treasury via Alchemix NFT collections
Badger DAO is discussing action plans for unclaimed $ibBTC rewards worth $300k in $CVX and $crvCVX
Aave is discussing to replace current $USDC with native $USDC in Arbitrum V3 pools
Next Week's Alpha
Aave is discussing launch parameters for their stablecoin $GHO, with $GHO set to launch soon
Frax Finance V2 is set to launch at the end of June, which will feature dynamic interest rates and a programmable lending market for the ‘borrowing’ of Frax’s validators
Stader Ethereum is set to launch their staking solution ETHx by early July
ENS is set to support new web domain name on browsers in September
$APT is set to unlock 0.5% of total supply ($35.3M, or 2.3% of marketcap) on June 12th
$BLUR is set to unlock 6.5% of total supply ($83.8M, or 40% of marketcap) on June 15th
$BIT is set to unlock 2.0% of total supply ($91.4M, or 1.9% of marketcap) on June 15th
News
SEC has sued Binance and Coinbase alleging multiple securities violations, listing 61 crypto assets that are viewed as securities
SEC has alleged that Binance moved $12B to holding firms controlled by CEO Zhao
Binance US has suspended their OTC platform and trading for $USDT, $BTC and $BUSD pairs, causing coins on their platform to trade at a premium
US senators had asked the DOJ to investigate Binance for lying about its business practices
SEC is seeking a temporary restraining order to freeze assets tied to Binance US
Swift and other financial institutions will work with Chainlink on tokenized asset settlement experiments
Robinhood is actively reviewing tokens named in SEC lawsuits against Binance and Coinbase
Coinbase will not be shutting down staking services
US Court has ruled that the SEC must respond to Coinbase’s rulemaking petition within a week
Circle has obtained a license from Monetary Authority of Singapore (MAS) to offer digital payment token services in Singapore
Australian banks will be limiting payments to crypto exchanges, citing the risk of scammers
Binance appointed Richard Teng, former chief regulatory officer at Singapore Exchange (SGX) to play key role overseeing regional markets
Binance has issued a statement that it would defend itself “vigorously” against SEC claims
Coinbase CEO has responded to the SEC complaint, promising to continue “moving forward”
Justin Sun expects Huobi to receive its Hong Kong crypto trading license in 6 to 12 months
Ark Invest has purchased another $21.6M Coinbase shares while $COIN prices tumble
Binance’s market share has drifted to its lowest level in the past eight months from a previous high of 57% to under 45%, and is on track to see largest withdrawals since March
Ethereum fees have reached a two-month low with the passing of the recent memecoin mania
Tweets of the Week
Upcoming Catalysts in June by An Ape’s Prologue
An opinion on the SEC’s case against Binance and Coinbase by Adam Cochran
An Analysis of the SEC lawsuit impact on the crypto markets by An Ape’s Prologue