ASXN

You can watch the Binance DOJ Settlement live here at 3PM ET (in approximately 30mins):

https://www.justice.gov/live

- Last week, weekly crypto fund inflows reached $293 million. Bitcoin inflows accounted for $240 million (81%) of that sum and Ethereum took second place with $49 million of total inflows. source
- Spot crypto trading volumes rose by 57.5% in October compared to September’s volumes. source
- Vertex Protocol, a derivatives DEX on Arbitrum, has released the tokenomics for their upcoming native token, VRTX. Users who stake VRTX will receive rewards directed from 50% of the protocol's revenue. Users will also receive voVRTX, a non-transferable token that represents a “token score” which acts as a multiplier effect on incentives for VRTX stakers. source
- ZachXBT has revealed the GROK token’s twitter account to have previously “been reused for at least one other scam”. Upon publishing his findings on Twitter, the price of GROK went down by as much as 60% within 5 minutes. It currently trades at -40% from the price at posting and -48% from all times high which were achieved early today. The token has had $70.7 million in on-chain volume over the past 24 hours. source
- A proposal to backfund successful Arbitrum STIP proposals is ending tomorrow Nov 14 2:00 PM UTC. Of the 110,141,000 total votes so far, 69 million have voted in favour, 41 million have voted to reject and 141,000 have abstained to vote. source
- A fake BlackRock iShares XRP Trust Entity filing in Delaware was published. XRP spiked +20% upon the news being spread via notable crypto news stations but has since returned to -0.20% on the daily. source

Trending Assets and Volumes
- AI and AI related coins did really well this week.
- TAO, up 64.13%, and STFX, up 58.26%, were the top performers over the past week.
- OLAS had a great week, and is up 85.72%. PRIME is up 39.69% over the past week, and up 109.21% over the past month.
- RNDR did well, and is up 36.69% over the past week.

TVL
- Concentrator, yield on Ethereum, TVL grew by 203.09%.
- NFTFi, NFT finance on Ethereum, TVL grew by 96.71%.
- Reserve, indexes on Ethereum, TVL grew by 71.76%.

Fees
-friend.tech fees earned are up 358%, and Bitcoin fees earned are up 47.14% over the past week.

Governance Proposals
- Sushi proposal to update SUSHI tokenomics using trading, routing and staking fees as well as partnerships. source
- Axelar proposal for Frax to use Axelar Network to bridge FRAX and other Frax assets to chains where Frax Ferry doesn’t operate to. source
- Aave proposal to onboard CRVUSD onto Aave v3 on Ethereum. source

Articles
- STFX has introduced staking tiers that allow traders who stake the $STFX token to increase the performance fees they earn from 15% up to a maximum of 20% on each trade they manage. This represents a potential 33% increase in profits for staking traders. source
- ether.fi has launched their ambassador program. Ambassadors,will receive exclusive access to project updates and news, early access to new products and features, and rewarding contribution opportunities. source

Full notes here:
https://x.com/asxn_r/status/1726365240634581173

Developments
- South Korea’s National Pension Service (NPS) purchased $20 million worth of Coinbase shares (COIN). source
- PancakeSwap has released a gaming marketplace which will allow developers to integrate CAKE, PancakeSwap’s native token, and publish their games for players to enjoy. source
- BlackRock has officially filed for a spot Ether ETF with the SEC. source
- The Philippines will be offering $179 million of 1 year tokenized treasury bonds. Its interest rate is to be determined on the 20th November 2023 through book building. source
- Polygon’s gas fee skyrocketed to as high as 4000 gwei as the number of transactions on the network peaked to its highest since 2021 at 6.1 million transactions. This inflow is likely to be due to Polygon’s inscription event of PRC-20 POLs. source
- Bitcoin Ordinals NFT ‘Taproot Wizards’ announced that they have raised $7.5 million dollars in a round led by Standard Crypto. source
- Tether will be investing $500 million over the next six months to build out its own Bitcoin mining facilities in three countries. source
- Aave companies will be renamed to ‘Avara’ as it acquires a crypto wallet called “Family”. source
- sFRAX proposals to go multichain. source
- Circle Ventures invests in SEI & announces USDC integration. source
- Circle introduce USDC minting for singapore entities. source
- Cosmos votes on max inflation reduction from 20%-10%. source
- Ex Compound Finance CEO, R.Leshner raises $14M for superstate.
- Binance Labs invest in Arkhams token. source
- SEC delays Hashdex BTC ETF. source
- OKX has launched their zero knowledge EVM compatible Layer 2 chain “X1” on testnet through Polygon’s Chain development kit. source
- Aave has increased the borrow rate for their multi-collateral backed stablecoin, GHO, from 3% to 4.72% following governance approval. source
- Circle’s Cross Chain Transfer Protocol for USDC will be coming to Noble, an application-specific chain built for native asset issuance in Cosmos, on the 28th of November. source
- dYdX Chain‘s (dYdX v4) beta mainnet has gone live. Users can trade over 33 pairs. There will be no trading rewards at this stage but validators and stakers will accrue trading rewards. source
- Vitalik published an article on the Ethereum scaling technology, Plasma. Plasma chains settle on Ethereum but execute transactions off-chain with their own mechanism for block validation. The OMG network which utilises Plasma tech had its native token increase by as much as 33% before retracing to +10% on the daily. source
- Ankr partners with Optimism to launch a rollup as a service product to enable users to create an “an independent OP Stack-based L2 that exclusively serves traffic from their application or project”. source
- South Korea's democratic party candidates will be required to disclose crypto holdings as it’s 2024 legislative election nears. source
- A proposal to swap $3 million of $ARB tokens, from the 1inch treasury, into USDC has been published for vote via 1inch’s Snapshot. source
- ether.fi 's liquid staking token, eETH, has gone live on mainnet. Currently, only whitelisted users can mint eETH. ether.fi will continue to whitelist more users to mint over the upcoming days. source
- Uniswap Labs has made over $1 million in the 27 days since turning on the 0.15% fee switch for the Uniswap Protocol last month. source
- Grayscale’s Solana Trust (GSOL) is trading at a 283% premium compared to the spot SOL price. source
- Ondo Finance has partnered with Axelar to make their short-term US treasury bill backed and yield-bearing stablecoin, USDY, bridgeable across chains. Initially, bridging for the token will only be available between Ethereum and Mantle. source
- Ryan Wyatt, former president at Polygon Labs and previously head of gaming for 7 years at Youtube, has joined Optimism as their Chief Growth Officer. He will lead business development, marketing and partnerships strategies among other initiatives. source

We published a thread on Pyth Network's tokenomics & relative valuation. You can find it here:

https://x.com/asxn_r/status/1725950566776402035

Short thread on Celestia tokenomics with attached google sheet model:

https://x.com/asxn_r/status/1724531264534065227?s=20

Daily Notes: 14-11-2023

Developments
- OKX has launched their zero knowledge EVM compatible Layer 2 chain “X1” on testnet through Polygon’s Chain development kit. source
- Aave has increased the borrow rate for their multi-collateral backed stablecoin, GHO, from 3% to 4.72% following governance approval. source
- Circle’s Cross Chain Transfer Protocol for USDC will be coming to Noble, an application-specific chain built for native asset issuance in Cosmos, on the 28th of November. source
- dYdX Chain‘s (dYdX v4) beta mainnet has gone live. Users can trade over 33 pairs. There will be no trading rewards at this stage but validators and stakers will accrue trading rewards. source
- Vitalik published an article on the Ethereum scaling technology, Plasma. Plasma chains settle on Ethereum but execute transactions off-chain with their own mechanism for block validation. The OMG network which utilises Plasma tech had its native token increase by as much as 33% before retracing to +10% on the daily. source
- Ankr partners with Optimism to launch a rollup as a service product to enable users to create an “an independent OP Stack-based L2 that exclusively serves traffic from their application or project”. source
- South Korea's democratic party candidates will be required to disclose crypto holdings as it’s 2024 legislative election nears. source

Trending Assets and Volumes
- BANANA had a great day, and is up 34.37%.
- DYDX is up 21.49% and RLB is up 12.91% over the past day. PRIME has also been performing well, and is up 10.69% over the past day and 94.91% over the past month.
- Large caps have not been performing very well. AVAX is showing some strength, and is up 3.52% today.
- crvUSD, DYDX and MKR are dominating volumes on chain.

TVL
- Astroport, AMM on Cosmos, TVL grew by 30.70%.
- PayCash, DEX on EOS, TVL grew by 14.55%.
- sDAI, yield-bearing stablecoin on xDai, TVL grew by 14.04%.

Fees
- Synthetix fees earned are up 179.63% compared to yesterday.

Articles
- ether.fi has launched their ambassador program. Ambassadors,will receive exclusive access to project updates and news, early access to new products and features, and rewarding contribution opportunities. source

Full notes here:
https://x.com/asxn_r/status/1724560624825360702

Fees
- Bitcoin fees earned are up 406.68% - following the rise in inscription and BRC-20 volume.
- Raydium, a DEX on Solana, fees earned are up 341.96%.

Governance Proposals
- Balancer proposal to lock the vested 1.4m Aura and 600k unvested Aura into vlAura to begin earning rewards and eventually start allocating vote weight towards revenue generating pools. source
- Aave proposal to lock the AURA holding in vlAURA via the Strategic Asset Manager and delegate managing the position to the GHO Liquidity Committee. source
- Aave proposal regarding the parameters to migrate USDC.e to native USDC on Arbitrum. source
- Aave proposal to upgrade the Aave Swap Contract to include Limit Orders and TWAP swap functionality. source
- Lido proposal for Lido DAO to accept the ownership of the wstETH bridging on zkSync Era. source
- Arbitrum proposal to backfund 26 STIP Round 1 proposals that were approved but not funded due to budget issues, allocating 21.4M additional ARB. Projects which would potentially receive the highest portion of the backfund allocation are: Gains (4.5M ARB), Synapse (2M ARB), Wormhole (1.8M ARB) and Stargate (2M ARB). source
- Aave proposal to increase the GHO Borrow Rate from 3.00% to 4.72%, the proposed sDAI rate. source
- Stargate proposal to shut down BNB BUSD pool and associated pathways and swap all BUSD multisig holdings into another highly liquid, USD-pegged stablecoin. source

Articles
- Users can earn VRTX and ARB by trading on Vertex or LPing Elixir Fusion pools. source
- STFX has launched spot vaults, and users can now trade every ERC-20 coin directly through the platform. source
- Lido has launched wstETH on Base. The initiative was led by KyberSwap, Beefy, and Superbridge. source
- Vertex has launched Take Profit and Stop Loss orders on their trading platform. source
- Canyon will activate on Optimism, Base, and other Superchain testnets on November 14th at 17:00 UTC, and includes support for the Shanghai and Capella Ethereum hardforks and some minor bug fixes. source
- Rysk Finance's proposal to the Arbitrum STIP was voted to receive 500K ARB to distribute as rewards to Rysk liquidity providers and options traders on the Rysk platform. source
- Perennial has been granted 750,000 ARB tokens from Arbitrum to distribute as incentives over the next 3 months to grow activity on Arbitrum. The incentives program will run for 12 weeks with rewards distributed each week totaling around 62,500 ARB per week. Rewards will be split between traders and liquidity providers. source

Full notes here:
https://x.com/asxn_r/status/1723841741067845954

- The Near Foundation and Polygon Labs have partnered to develop a zero knowledge prover for WebAssembly (WASM) blockchains available via Polygon CDK. Success will mean a more interoperable Web3 ecosystem that will allow WASM chains to tap into Ethereum liquidity. source
- Grayscale’s Chainlink Trust is trading at $44 which is a 297% premium on spot LINK prices. Note that Friday's volume was $880,000 and the 30 day daily volume of the Trust is $132,000. source
- Ondo Finance has partnered with Mantle to launch USDY on the Mantle network. USDY is a yield bearing stablecoin overcollateralized by short-term US Treasuries and “high-quality bank demand deposits' that currently yields 5.1% APY. source
- The EigenLayer voting contest to add new LSTs to the protocol is over. All projects that receive over 15k ETH in votes will be added to EigenLayer in order of the votes received, in ‘the next few months’. Currently StakeWise, Swell, Binance and Origin Protocol ended above the threshold. source
- Sushi’s founder, Jared Gray, has published a proposal to redefine the tokenomics for the protocol’s token, SUSHI. source
- GMX started to deploy the 12 million ARB (~$13 million) received via the Arbitrum STIP program on the 8th of November. source
- Kraken is considering blockchain-technology firms to help them launch their own Layer 2 chain. These firms include Polygon, Matter Labs, and Nil foundation and others that are not publicly disclosed. source
- An Enjin token multisig withdrew 169.3 million ENJ (~$52 million) from Binance. The wallet now holds 201.7 million ENJ which is equal to 20% of the tokens supply and valued at $64 million. source
- Co-founder of BitMEX, Samuel Reed, has pleaded guilty to Bank Secrecy Act Violations and has agreed to pay a $10 million fine. His co-founders, Arthur Hayes and Benjamin Delo pleaded guilty to the same crime earlier in February of 2022. source
- USDC will be natively available on Moonbeam. Users will be able to pay for gas and transact with USDC without needing to hold DOT via establishing a Polkadot Asset Hub account. source
- Aave V3 has gone live on Gnosis chain. source
- Shrapnel, a first person Avalanche blockchain based shooter that recently raised $20 million and another $10.5 million in 2021, has launched their token SHRAP on the Avalanche chain. source
- The Arbitrum staking proposal has passed Snapshot voting. Users will be able to stake their ARB to receive their share of 100 million ARB in rewards allocated from the Arbitrum treasury. source
- As OpenSea cuts 50% of its employees, the BLUR token has soared by 31% on the 6th. Since bottoming on October 12th, BLUR has gone up by 140% to its current price of 0.36 cents. source
- $44 million of Hashflow's token, HFT, will be unlocking on November the 7th at 00:00 UTC. $17 million worth will go to early investors, $13.52 million to Ecosystem Development, $13.28 million to the Core Team and $115,000 for community rewards. source
- Germany’s third largest bank, DZ BANK, has launched its own digital asset custody platform for the processing and custody of digital financial instruments. source
- Last week, weekly crypto fund inflows reached $261 million. Cumulatively, the last six-weeks of inflows have totalled $767 million, the largest since December 2021. source
- The Bank of England and Financial Conduct Authority (FCA) is asking for feedback on their proposals for stablecoin regulation which would, if successful, seek to regulate fiat-backed stablecoins in early 2024 and algorithmic stablecoins which would come shortly after. source

Trending Assets and Volumes
- FTT is up 214.30% this week.
- PRIME, a P2E game, had a great week, and is up 77.31%. BNT was the top performer of the week, and is up 167.84%.
- AVAX performed well this week, and is up 53.94%. CRO continues to show strength, and is up 45.08%.

TVL
- Equation, derivatives on Arbitrum, TVL grew by 117.59%.
- Ghost, lending on Kujira, TVL grew by 85.72%.
- Cetus, DEX on Aptos and Sui, TVL grew by 85.19%.

Developments
- BlackRock is working on launching a spot ETH ETF called the iShares Ethereum. source
- The European Parliament approved an act that would require smart contracts to have a kill switch. The next steps towards the act being implemented would be approval from the European Council. source
- Circle has released v2.2 for their stablecoins - USDC and EURC. The update decreases gas costs, increases the security of transactions involving them on EVM chains, and provides improved support for account abstraction which enables developers to build products where users can pay gas in USDC or EURC. source
- Ark Invest and 21Shares are getting ready to launch 5 new ETF‘s that will give investors exposure to digital assets, including Bitcoin and Ethereum futures contracts. source
- Riot Platforms, a Bitcoin mining firm, has released their 2023 Q3 report which shows increased revenues by 11.2% from $46.3 million to $51.9 million compared to their Q3 2022 reports. Additionally, they mined 1,106 BTC compared to 1,042 BTC in Q3 2022. source
- Immutable has partnered with Ubisoft’s Strategic Innovation Lab to “a new gaming experience to further unlock benefits for players through the power of web3”. source
- A New York judge approved Celsius’ plan to restart under the name “NewCo” which would see the distribution of $2 billion BTC and ETH to Celsius customers as well as NewCo Stock. source
- Polygon has relaunched their grant program “Polygon Village” which will use 110 million MATIC ($90 million) to fund both projects both existing and being developed on the chain. source
- Former Flashbot’s co-founder, Stephane Gosselin, has released a Telegram bot named ‘Alfred’ which allows users to trade tokens on Ethereum while protecting against MEV. source
- HTX and Tron founder, His Excellency Justin Sun, has asked via his Twitter if the public would like to see Inscriptions come to Tron. source
- Chainlink staking v0.2 will launch to the public on December 11th 2023. The pool will have 45 million LINK in rewards. Early access will open on December 7th. source
- USDC’s Circle is considering going public via an initial public offering (IPO) in early 2024 as reported by Bloomberg. Previously, Circle was valued at $9 billion when it attempted to go public via a blank check merger deal with Concord Acquisition Corp in 2021, which was ultimately terminated in December 2022 due to the transaction timing out. source
- Illuvium, a game built on Immutable X, was listed on the Epic Games Store today. In response, the project's token, ILV, has surged by 22% in the last 24 hours. Previously, Illuvium raised $15 million in seed funding and another 4,018 ETH and 239,388 sILV2 (valued at $72 million in June 2022 and $26 million today if unconverted) in an NFT land sale in June of 2022. The game is set to be available to the public for download on November 28th as "Early Access."
- The SEC could approve spot BTC ETF’s as a minimum 8 day temporary window opens up starting tomorrow. source
- OpenSea’s valuation has been reduced by 90% from $13.3 billion to $1.4 billion or less by Coatue, an asset management company that co-led a $300 million round for OpenSea in 2022. Coatue also marked down its stake in MoonPay by 90%. source
- HSBC has partnered with Metaco, which is a Ripple owned company. Metaco provides infrastructure for financial and non-financial institutions to securely build their digital asset operations including tokenized securities custody service for institutional clients. The service aims to go live in 2024. source
- The FTX estate moved an additional $38.5 million of assets to exchanges today, $31.2 million of which was SOL. This brings the total assets moved to exchanges at $350 million so far. source
- Robinhood to expand its Crypto services into the EU. It will also be establishing a UK brokerage in the next few weeks. source

Daily Notes: 09-11-2023

Developments
- BlackRock is working on launching a spot ETH ETF called the iShares Ethereum. source
- The European Parliament approved an act that would require smart contracts to have a kill switch. The next steps towards the act being implemented would be approval from the European Council. source
- Circle has released v2.2 for their stablecoins - USDC and EURC. The update decreases gas costs, increases the security of transactions involving them on EVM chains, and provides improved support for account abstraction which enables developers to build products where users can pay gas in USDC or EURC. source
- Ark Invest and 21Shares are getting ready to launch 5 new ETF‘s that will give investors exposure to digital assets, including Bitcoin and Ethereum futures contracts. source
- Riot Platforms, a Bitcoin mining firm, has released their 2023 Q3 report which shows increased revenues by 11.2% from $46.3 million to $51.9 million compared to their Q3 2022 reports. Additionally, they mined 1,106 BTC compared to 1,042 BTC in Q3 2022. source
- Immutable has partnered with Ubisoft’s Strategic Innovation Lab to “a new gaming experience to further unlock benefits for players through the power of web3”. source
- A New York judge approved Celsius’ plan to restart under the name “NewCo” which would see the distribution of $2 billion BTC and ETH to Celsius customers as well as NewCo Stock. source
- Polygon has relaunched their grant program “Polygon Village” which will use 110 million MATIC ($90 million) to fund both projects both existing and being developed on the chain. source
- Former Flashbot’s co-founder, Stephane Gosselin, has released a Telegram bot named ‘Alfred’ which allows users to trade tokens on Ethereum while protecting against MEV. source
- HTX and Tron founder, His Excellency Justin Sun, has asked via his Twitter if the public would like to see Inscriptions come to Tron. source
- Chainlink staking v0.2 will launch to the public on December 11th 2023. The pool will have 45 million LINK in rewards. Early access will open on December 7th. source

Trending Assets and Volumes
- BADGER is up 65.53% today, and is also had one of the top 10 highest trading volumes onchain.
- MC, up 21.42%, HT, up 20.39%, and ELON, up 14.51%, were top performing tokens above $100M.
-LDO, up 7.06%, and ETH, up 6.51%, performed well today following BlackRock’s ETH ETF filing.

TVL
- HMX, multichain perpetuals DEX, TVL grew by 410.57%.
- Cetus, DEX on Aptos and Sui, TVL grew by 25.56%.
- Vaultka, yield on Arbitrum, TVL grew by 24.13%.

Fees
- friend.tech fees earned back in the top 10, after a 54.60% increase over the past day. Bitcoin fees earned is second highest - potentially due to rising popularity of inscriptions.

Governance Proposals
- Balancer proposal to lock the vested 1.4m Aura and 600k unvested Aura into vlAura to begin earning rewards and eventually start allocating vote weight towards revenue generating pools. source

Articles
- Users can earn VRTX and ARB by trading on Vertex or LPing Elixir Fusion pools. source
- STFX has launched spot vaults, and users can now trade every ERC-20 coin directly through the platform. source

Full notes here:
https://x.com/asxn_r/status/1722768331789275144

Daily Notes: 08-11-2023

Developments
- USDC’s Circle is considering going public via an initial public offering (IPO) in early 2024 as reported by Bloomberg. Previously, Circle was valued at $9 billion when it attempted to go public via a blank check merger deal with Concord Acquisition Corp in 2021, which was ultimately terminated in December 2022 due to the transaction timing out. source
- Illuvium, a game built on Immutable X, was listed on the Epic Games Store today. In response, the project's token, ILV, has surged by 22% in the last 24 hours. Previously, Illuvium raised $15 million in seed funding and another 4,018 ETH and 239,388 sILV2 (valued at $72 million in June 2022 and $26 million today if unconverted) in an NFT land sale in June of 2022. The game is set to be available to the public for download on November 28th as "Early Access."
- The SEC could approve spot BTC ETF’s as a minimum 8 day temporary window opens up starting tomorrow. source
- OpenSea’s valuation has been reduced by 90% from $13.3 billion to $1.4 billion or less by Coatue, an asset management company that co-led a $300 million round for OpenSea in 2022. Coatue also marked down its stake in MoonPay by 90%. source
- HSBC has partnered with Metaco, which is a Ripple owned company. Metaco provides infrastructure for financial and non-financial institutions to securely build their digital asset operations including tokenized securities custody service for institutional clients. The service aims to go live in 2024. source
- The FTX estate moved an additional $38.5 million of assets to exchanges today, $31.2 million of which was SOL. This brings the total assets moved to exchanges at $350 million so far. source
- Robinhood to expand its Crypto services into the EU. It will also be establishing a UK brokerage in the next few weeks. source
- The Near Foundation and Polygon Labs have partnered to develop a zero knowledge prover for WebAssembly (WASM) blockchains available via Polygon CDK. Success will mean a more interoperable Web3 ecosystem that will allow WASM chains to tap into Ethereum liquidity. source
- Grayscale’s Chainlink Trust is trading at $44 which is a 297% premium on spot LINK prices. Note that todays volume was $880,000 and the 30 day daily volume of the Trust is $132,000. source

Trending Assets and Volumes
- BOTTO, up 33.25%, and OX, up 27.32%, are some notable tokens below $100M MC that performed well over the past day.
- BNT is up 22.78% over the past day. ILV has had a great week, and is up 49.74% over the past 7 days.
- LINK is up 12.59% today. MATIC continues to show strength and is up 7.71%.
- ARB, LINK and PEPE are dominating trading volumes onchain. Some other notable names are crvUSD, RLB and ILV.

TVL
- FusionX V3, DEX on Mantle, TVL grew by 88.92%.
- GMX V2, perpetuals DEX on Arbitrum and Avalanche, TVL grew by 58.59%.
- Helix, DEX on Injective, TVL grew by 58.21%.

Governance Proposals
- Aave proposal to lock the AURA holding in vlAURA via the Strategic Asset Manager and delegate managing the position to the GHO Liquidity Committee. source
- Aave proposal regarding the parameters to migrate USDC.e to native USDC on Arbitrum. source

Articles
- Lido has launched wstETH on Base. The initiative was led by KyberSwap, Beefy, and Superbridge. source

Full notes here:
https://x.com/asxn_r/status/1722401103050903688

Daily Notes: 07-11-2023

Developments
- Ondo Finance has partnered with Mantle to launch USDY on the Mantle network. USDY is a yield bearing stablecoin overcollateralized by short-term US Treasuries and “high-quality bank demand deposits' that currently yields 5.1% APY. source
- The EigenLayer voting contest to add new LSTs to the protocol is nearly over, with 17.5 hours left to vote. All projects that receive over 15k ETH in votes will be added to EigenLayer in order of the votes received, in ‘the next few months’. Currently StakeWise, Swell, Binance and Origin Protocol are above the threshold. source
- Sushi’s founder, Jared Gray, has published a proposal to redefine the tokenomics for the protocol’s token, SUSHI. source
- GMX will start to deploy the 12 million ARB (~$13 million) received via the Arbitrum STIP program tomorrow on the 8th of November. source
- Kraken is considering blockchain-technology firms to help them launch their own Layer 2 chain. These firms include Polygon, Matter Labs, and Nil foundation and others that are not publicly disclosed. source
- An Enjin token multisig withdrew 169.3 million ENJ (~$52 million) from Binance. The wallet now holds 201.7 million ENJ which is equal to 20% of the tokens supply and valued at $64 million. source
- Co-founder of BitMEX, Samuel Reed, has pleaded guilty to Bank Secrecy Act Violations and has agreed to pay a $10 million fine. His co-founders, Arthur Hayes and Benjamin Delo pleaded guilty to the same crime earlier in February of 2022. source
- USDC will be natively available on Moonbeam. Users will be able to pay for gas and transact with USDC without needing to hold DOT via establishing a Polkadot Asset Hub account. source
- Aave V3 has gone live on Gnosis chain. source
- Shrapnel, a first person Avalanche blockchain based shooter that recently raised $20 million and another $10.5 million in 2021, has launched their token SHRAP on the Avalanche chain. source

Trending Assets and Volumes
- LMWR is up 71.92%. COW is up 51.18% following the core team’s proposal to add fees to test which fee models would be best suited for long-term adoption.
- BLUR, up 38.03%, BITCOIN up 14.88% and GRT up 12.28% performed well today.
- CRO is up 7.52%.

TVL
- SwissBorg, CeFi, TVL grew by 32.44%.
- Cetus, DEX on Sui and Aptos, TVL grew by 13.92%.
- sDAI, yield-bearing stablecoin on xDai, TVL grew by 12.29%.

Fees
- Azuro fees earned grew by 865.62% yesterday.

Governance Proposals
- Aave proposal to upgrade the Aave Swap Contract to include Limit Orders and TWAP swap functionality. source
- Lido proposal for Lido DAO to accept the ownership of the wstETH bridging on zkSync Era. source
- Arbitrum proposal to backfund 26 STIP Round 1 proposals that were approved but not funded due to budget issues, allocating 21.4M additional ARB. Projects which would potentially receive the highest portion of the backfund allocation are: Gains (4.5M ARB), Synapse (2M ARB), Wormhole (1.8M ARB) and Stargate (2M ARB). source

Articles
- Vertex has launched Take Profit and Stop Loss orders on their trading platform. source
- Canyon will activate on Optimism, Base, and other Superchain testnets on November 14th at 17:00 UTC, and includes support for the Shanghai and Capella Ethereum hardforks and some minor bug fixes. source

Full notes here:
https://x.com/asxn_r/status/1722024808156713196

Daily Notes: 06-11-2023

Developments
- The Arbitrum staking proposal has passed Snapshot voting. Users will be able to stake their ARB to receive their share of 100 million ARB in rewards allocated from the Arbitrum treasury. source
- As OpenSea cuts 50% of its employees, the BLUR token has soared by 31% in the last 24 hours. Since bottoming on October 12th, BLUR has gone up by 140% to its current price of 0.36 cents. source
- $44 million of Hashflow's token, HFT, will be unlocking on November the 7th at 00:00 UTC. $17 million worth will go to early investors, $13.52 million to Ecosystem Development, $13.28 million to the Core Team and $115,000 for community rewards. source
- Germany’s third largest bank, DZ BANK, has launched its own digital asset custody platform for the processing and custody of digital financial instruments. source
- Last week, weekly crypto fund inflows reached $261 million. Cumulatively, the last six-weeks of inflows have totalled $767 million, the largest since December 2021. source
- The Bank of England and Financial Conduct Authority (FCA) is asking for feedback on their proposals for stablecoin regulation which would, if successful, seek to regulate fiat-backed stablecoins in early 2024 and algorithmic stablecoins which would come shortly after. source

Trending Assets and Volumes
- TRU, up 59.23%, LMWR, up 55.38%, and PLS, up 29.78%, performed well over the past day.
- As noted, BLUR had a good day gaining 38% on higher than average volume, rallying in response to their largest competitor OS firing 50% of their staff. This could be related to a few positive NFT mints like the recent Springfield punks mint post the Simpsons NFT episode.
- BITCOIN is up 15% today.
- INJ continues to perform well, up 6.2% today.

TVL
- Elysium Bridge, bridge for Elysium, TVL grew by 24.68%.
- Pando Rings, lending on Mixin, TVL grew by 23.66%.
- Scallop Lend, lending on Sui, TVL grew by 19.75%.

Fees
- GMX V1 fees earned are up 1236.89% over the past day. Uniswap V2 fees earned are down 41.06%, OpenSea Seaport fees earned are down 29.91%.

Governance Proposals
- Aave proposal to increase the GHO Borrow Rate from 3.00% to 4.72%, the proposed sDAI rate. source
- Stargate proposal to shut down BNB BUSD pool and associated pathways and swap all BUSD multisig holdings into another highly liquid, USD-pegged stablecoin. source

Articles
- Rysk Finance's proposal to the Arbitrum STIP was voted to receive 500K ARB to distribute as rewards to Rysk liquidity providers and options traders on the Rysk platform. source
- Perennial has been granted 750,000 ARB tokens from Arbitrum to distribute as incentives over the next 3 months to grow activity on Arbitrum. The incentives program will run for 12 weeks with rewards distributed each week totaling around 62,500 ARB per week. Rewards will be split between traders and liquidity providers. source

Full notes here:
https://x.com/asxn_r/status/1721660123347558798

Daily Notes: 31-10-2023

Developments
- Celestia has gone live on mainnet beta. The TIA token is also available to trade on a range of Tier 1 exchanges. Additionally, Binance listed $TIA perpetual contracts today. source
- Backpack, a crypto wallet, will be launching an exchange after successfully acquiring a VASP licence from Dubai Virtual Assets Regulatory Authority. source
- Circle will stop supporting customer (retail / individuals) minting of their stablecoins USDC & EURC. Businesses and Institutional clients will remain unaffected. source
- Hyperliquid, a perpetual DEX, has announced a points program which will begin from November 1st at 00:00 UTC. 1 million points will be distributed to users over 6 months every Thursday from the 9th of Nov. A separate snapshot for a separate points drop was taken on October 31st at 00:00 UTC for closed alpha users. source

Trending Assets and Volumes
- JOE, up 20.52%, GF, up 15.83%, and CYBER, up 14.32%, outperformed today.
- SUSHI is up 15.44% today. WLD also did well, and is up 5.28%.
- ATOM is the top performer for large caps, up 4.73%.
- Onchain trading volumes are slightly lower compared to last week. ARB and LINK continue to attract most volume.

TVL
- Hashnote, multichain RWA, TVL grew by 373.51%.
- Canto Lending, lending on Canto, TVL grew by 80.93%.
- Tonstakers, liquid staking on TON, TVL grew by 19.41%.

Fees
- Curve fees earned are up 100.73%. GMX fees earned are up 92.39%.

Articles
- The Vertex Liquidity Bootstrapping Auction will occur from November 13th to November 19th. Participants can supply the their pre-claimed VRTX token and USDC.e stablecoin liquidity to a combined VRTX-USDC.e pool. source
- Level will be moving towards Level 2.0, an orderbook DEX. source

Full notes here:
https://x.com/asxn_r/status/1719479459244363909