Important DeFi News
The bridging and staking of $DYDX on Cosmos is now live, its founder has stated that the company and its employees will not be staking their tokens to earn protocol fees
Pyth, an oracle network, announced its retroactive token airdrop. Users with activity on Pyth-integrated dApps and chains are eligible for it
LayerZero’s token airdrop is speculated to be happening this week as Tapioca DAO moved its launch from 12th December to 11th November and mentioned on its GitHub the use of $ZRO to pay for LayerZero fees
Jupiter Exchange has launched a perpetual exchange that operates similar to GMX where liquidity is sourced from an LP pool acting as the counter-party to all traders. The protocol will also be integrating Circle’s CCTP to bring native $USDC to Solana
Kraken is reportedly seeking to launch an L2 network
Binance announced its brand new self-custody web3 wallet that works within the Binance app
$NEAR has launched its Data Availability Layer and is partnering with Polygon to develop a zero-knowledge prover for WebAssembly blockchains
The Aragon Association is dissolving, offering $ANT holders the option to redeem 0.0025376 $ETH per token from now till November 2nd 2024
$PRISMA token airdrop has gone live, users can now claim their earned tokens
Vertex’s Initial Token Phase has concluded. Users can pre-claim $VRTX on November 13th to participate in its Liquidity Bootstrapping Auction
Magic Eden and Yuga Labs are partnering up to create an Ethereum NFT marketplace that will enforce creator royalties
$USDY, an RWA stablecoin by Ondo Finance, has launched on ****Mantle Network. $30M of it has been minted so far
$RNDR is migrating from ERC-20 into a native SPL token on Solana. Users who migrate within the next three months will receive a share of 1.14M $RNDR worth $2.75M as a gas fee subsidy
The BscScan team has released a block explorer for opBNB chain
Hashflow DEX has implemented protocol fees and 50% revenue share to $HFT stakers
Evmos will be discontinuing Cosmos support and focusing solely on EVM-based transactions
Voyager burned 83M $VGX worth $10.9M, effectively reducing circulating supply by almost 30%
TokenFi, $FLOKI’s sister token, will release its roadmap on November 10th
Debita Finance, a P2P oracle-less lending protocol on Fantom is set to go live on November 11th
Animoca announced a strategic partnership with Cool Cats for a web3 expansion into the Japanese anime market
Governance Proposals
Arbitrum DAO has approved $ARB token staking, allocating 100M $ARB to be distributed over a period of 12 months. On another note, it is currently voting on a $24M backfund for projects that missed out on the STIP grant
CoW DAO is discussing testing various fee models on the protocol for a six month period
SushiSwap DAO is discussing a new tokenomics model for $SUSHI aimed at enhancing protocol sustainability, increasing token utility, and diversifying its treasury. It is also discussing establishing a governing council
Aave DAO is voting on implementing a 5% optimal borrow rate for its stablecoin markets
Osmosis DAO is set to pass a vote to integrate cw-hyperlane, a cross-chain messaging protocol, allowing Osmosis to interface with a wider range of blockchain environments. It is also on track to pass a proposal to raise minimum gas price to 0.025 $uOSMO
Stargate DAO is voting to phase out all $BUSD pools within two weeks of the proposal passing. The DAO is also discussing deploying on Astar zkEVM and Astar Substrate
dYdX DAO is discussing a $1M community grant spread across two quarters to fund proposals beneficial to the protocol
News
BlackRock has filed to register a new iShares Ethereum Trust entity
$GLNK, Grayscale Chainlink Trust, traded at more than 200% premium, suggesting institutional demand $LINK
SBF has been found guilty on all counts of defrauding customers, lenders, and investors of FTX and faces a prison sentence of up to 115 years.
SEC has opened talks with Grayscale regarding the conversion of its spot $BTC ETF
Ark Invest and 21shares are planning to launch a new suite of digital asset ETFs
Crypto and NFTs were made the central theme in the latest episode of The Simpsons
Crypto spot trading volume has increased for the first time in four months
Circle is considering going public with an IPO in 2024
Coinbase’s has begun offering crypto futures trading to eligible retail US customers
Hong Kong is considering allowing retail access to spot crypto ETFs
Paypal received a subpoena from the SEC relating to its $PYUSD stablecoin
Ripple has unveiled Ripple Payments, geared toward servicing corporate clients that do not have a money transmitter license
Nym, a privacy infrastructure protocol, will be launching a decentralized VPN network
OpenSea has cut half of its workforce and will be focusing on pushing out OpenSea 2.0
Coatue, an investment fund, has marked down its stake in OpenSea by 90%
Aptos and Atomrigs Lab are partnering with Korea’s largest mobile carrier, SK Telecom, to develop its web3 wallet
MicroStrategy purchased an additional 155 $BTC for $5.3 million in October; they now hold 158.4k $BTC worth $5.88T
ProShares launched SETH, the world’s first short ether-linked futures ETF
HSBC will offer digital-asset custody services for institutional clients on 2024
Abu Dhabi has taken its first steps to legalize the operations of decentralized entities such as DAOs
Coinbase is set to end support for $BSV by 9th January 2024
Ava Labs, the main developer of $AVAX has laid off 12% of its workforce
Tweets of the Week
FTX Estate CEX transfers and analysis by Ouroboros Research
The hidden side of CDP liquidations by Daniel Von Fange
Estimating $ARB staking yield by ASXN
Solana Breakpoint megathread by Wolfgang Vitale