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
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