Hotairballoon has selected important information, investment and financing conditions of the crypto market last week, as well as on-chain data of current popular tracks such as LSD and RWA. In addition, it has also counted projects with relatively large unlocking volumes recently for your reference.
1. Important information about the crypto industry last week
Take a quick look at important industry information of the week.
1. Policy/Regulation
1. Head of the Innovation Center of the Bank for International Settlements: Central banks of all countries need to be prepared whether they like cryptocurrencies or not
On October 2, Cecilia Skingsley, head of the Innovation Center of the Bank for International Settlements (BIS), said in a discussion at the New York Fed's FinTech Conference: Artificial Intelligence and Digital Assets that the BIS knows it must stay ahead and needs to practice it itself.
The Innovation Center's mission is to study and investigate how new technologies, including cryptocurrencies, can change the way central banks operate. Skingsley said the BIS knew it couldn't ignore the digital asset space. "The experience of Libra in 2019 and everything that followed really made everyone realize that there are too many things happening in the technology space that we can't ignore. Regardless, central banks need to be prepared.
2. The International Monetary Fund proposes a national cryptocurrency risk assessment matrix
On October 2, the International Monetary Fund released a working paper titled "Assessing Macro-Financial Risks from Crypto Assets" on September 29. In the paper, authors Burcu Hacibedel and Hector Perez-Saiz proposed a cryptocurrency risk assessment matrix (C-RAM) for countries to discover indicators and triggers of potential risks in the industry. The matrix also aims to summarize regulators' potential responses to risks they may identify.
3. The US SEC and five other regulatory agencies issued a warning on crypto investment
On October 3, the U.S. Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), the Commodity Futures Trading Commission (CFTC), the National Futures Association (NFA), the Securities Investor Protection Corporation (SIPC) and the North American Securities Administrators Association (NASAA) jointly issued multiple warnings on crypto asset investments, stating that crypto asset investments may be abnormally volatile and speculative, and that platforms where investors buy, sell, borrow or lend these assets may lack protection.
The regulator warned that those offering crypto asset investments or services may not comply with applicable laws, including federal securities laws. In addition, the announcement detailed that crypto asset investors face a number of risks, including unregistered offerings, lack of protection from the Securities Investor Protection Corporation (SIPC), and fraud.
4. LayerZero and Conflux have reached a cooperation to enable China Telecom's BSIM card to use other blockchains
On October 3, according to official news, LayerZero Labs, the development team of the full-chain interoperability protocol LayerZero, announced today that it has reached a strategic cooperation with Conflux Network, which will enable China Telecom's blockchain-based SIM card (BSIM) users to access the full-chain functions on the blockchain network supported by LayerZero. Based on this cooperation, users will be able to use LayerZero's full-chain data communication platform to transfer digital assets and data stored on the BSIM card from the Conflux mainnet to other blockchain networks. The new BSIM function will initially be used to transfer cryptocurrencies from the Conflux mainnet (eSpace and Core space) to Ethereum, and more chains and functions will be added in the coming months.
5. Payment giant Visa launches $100 million generative AI investment fund
According to Cointelegraph on October 3, payment giant Visa announced on October 2 the launch of a new $100 million generative artificial intelligence fund to invest in companies that focus on developing generative artificial intelligence technologies and applications related to commerce and payments. The investment will be planned by Visa Ventures, Visa's global corporate investment arm.
6. Macau Judiciary Police: Virtual currency is not legal tender in Macau, be careful to avoid being scammed
On October 3, according to the "Sing Tao Daily", the Macau Judiciary Police reminded the public that virtual currency is not a legal tender in Macau, but only a virtual commodity, and the relevant transactions are speculative and extremely risky. You should first fully understand and know the relevant products, and should not blindly follow them, be careful to prevent being deceived or being used for illegal activities such as money laundering. The Macau Judiciary Police said that investment fraud cases have occurred frequently in recent months, and there are many investment frauds involving virtual currencies. The usual method of fraudsters is to recruit Internet celebrities on online social platforms, and after gaining trust, lobby the victims to participate in virtual currency investment plans that claim to have high returns.
7. Judge dismisses SEC's motion to appeal Ripple case ruling
On October 4, DB NEWSWIRE tweeted that District Judge Analisa Torres rejected the US SEC's motion to appeal the Ripple case. Torres said in a brief ruling on Tuesday that the SEC failed to fulfill its legal responsibilities, failing to prove the existence of legal control issues or sufficient reasons for differences of opinion. After the decision was announced, XRP rose by about 5%.
8. Ripple obtains Singapore’s major payment institution license
On October 4, CoinDesk reported that Ripple's Singapore subsidiary has obtained a major payment institution (MPI) license issued by the Monetary Authority of Singapore (MAS), enabling it to provide digital payment token services in Singapore. According to previous news, Ripple received the principle approval of the Monetary Authority of Singapore in June this year. In addition, Coinbase Singapore has also obtained an MPI license in Singapore.
9. The Bank for International Settlements is working with several European central banks to develop a data platform to track cryptocurrency and DeFi capital flows
On October 4, according to Cointelegraph, the Bank for International Settlements (BIS) cooperated with the Deutsche Bundesbank, the Dutch Central Bank, the European Central Bank and the Bank of France to develop a proof-of-concept (PoC) platform ProjectAtlas to track on-chain and off-chain transactions of cryptocurrency exchanges and public blockchains. It aims to measure the macroeconomic relevance of cryptocurrency markets and DeFi protocols to provide insights, information and economic impact on the industry, while pointing out the lack of transparency and potential risks, as well as major failure cases unique to the crypto field.
10. El Salvador launches its first Bitcoin mining pool, which will use geothermal energy for mining
On October 6, according to The Block, Volcano Energy, a Salvadoran renewable energy and mining company, and Luxor Technology, a Bitcoin mining software provider, jointly launched the "Lava Pool". This is the first Bitcoin mining pool in El Salvador, which aims to use the country's abundant geothermal energy to mine Bitcoin. According to a statement, Volcano Energy will mine exclusively through the mining pool and donate 23% of its net income to the Salvadoran government as part of a public-private partnership program.
11. The Basel Committee on Banking Supervision will propose disclosure requirements for banks’ crypto exposure
On October 7, according to CoinDesk, the Basel Committee on Banking Supervision released a report on banking turmoil in 2023, agreed to consult on climate and crypto asset disclosures, and stated that banks must disclose their holdings of cryptocurrencies. At the same time, the committee stated that an upcoming consultation document will propose "a series of disclosure requirements related to banks' crypto asset risk exposure" to supplement the existing digital asset capital requirements determined in December last year. It has stated that banks should issue potentially prohibitive capital for their holdings of unsecured cryptocurrencies such as Bitcoin or Ethereum.
12. Singapore will set up an inter-departmental committee to review the anti-money laundering system
On October 6, according to official news, Singapore will set up an inter-departmental committee to review the anti-money laundering system in response to the largest money laundering case in Singapore that was recently uncovered. The Monetary Authority of Singapore and other institutions will appoint relevant personnel to participate in the committee, and the second minister of the Ministry of Finance and the Ministry of National Development of Singapore will serve as the chairman of the committee. Singapore will then review the anti-money laundering system from the perspective of foreigners purchasing and holding local real estate and corporate entity registration and operation.
13. Director of the Hong Kong Treasury Bureau: Before Hong Kong officially regulates stablecoins, retail trading is not allowed
On October 6, according to Ming Pao News Network, Hong Kong Financial Services and the Treasury Secretary Paul Chan pointed out in an interview with the Investment Committee that the relevant currencies in the market will be supported by the US dollar or gold, etc., with the goal of stabilizing prices. However, there have been price fluctuations or even collapses in stablecoins in the past. The reserve management of stablecoin issuers will affect price stability and investors' rights to redeem legal tender. Taking these factors into consideration, before Hong Kong officially regulates stablecoins, they will not be included in retail trading for the time being.
14. The seasonally adjusted non-farm payrolls in the United States in September were 336,000, and the unemployment rate in September was 3.8%
On October 6, according to Jinshi data, the seasonally adjusted non-farm payrolls in the United States in September were 336,000, which was expected to be 170,000 and the previous value was 187,000. The unemployment rate in the United States in September was 3.8%, which was expected to be 3.7% and the previous value was 3.8%.
15. Deputy Secretary for Security of Hong Kong: Hong Kong Customs has no right to regulate virtual currency
On October 4, according to Sing Tao Daily, the Hong Kong Legislative Council Security Affairs Committee discussed the latest developments of the Customs' participation in international activities yesterday, which mentioned the JPEX case and the issue of virtual currency supervision. Zhuo Xiaoye, Deputy Secretary for Security of Hong Kong, said that under the Anti-Money Laundering and Terrorist Financing Ordinance, anyone who operates currency exchange must apply for a license from the Customs, and the Customs is responsible for supervising licensed money service operators. Since virtual currency is not a legal tender, the Customs has no right to regulate it; as for how virtual currency and virtual assets will be regulated in the future, the government and relevant regulatory agencies are continuously reviewing the development of the situation and continuing to improve the regulatory mechanism.
16. Director of the Hong Kong Treasury Bureau: If NFT constitutes a "collective investment" or "securities", it must be approved by the Securities and Futures Commission before it can be sold
On October 7, according to Oriental Daily, Hong Kong Financial Services and Treasury Secretary Paul Chan revealed during a program of the Hong Kong Investment Committee that the Hong Kong Monetary Authority is preparing for a public consultation on stablecoin regulation. In addition, if non-fungible tokens (NFTs) are only collectibles in digital form and are not regulated by the SFC, but constitute a "collective investment" or "securities", they must be licensed by the SFC before they can be sold to the market.
(II) Project Information
1. dYdX community votes to pass $20 million v4 incentive program temperature check
On October 2, the dYdX community passed the temperature check vote on the "dYdX v4 Launch Incentive Proposal", which proposed to allocate $20 million DYDX from the dYdX Chain community treasury for a 6-month launch incentive plan deployed on v4 to incentivize early adopters.
2. Coinbase obtains major payment license in Singapore
On October 2, according to official news, Coinbase Singapore has obtained the Major Payment Institution (MPI) license issued by the Monetary Authority of Singapore. Coinbase will develop and release products tailored for Singapore, and will carry out training and recruitment programs at the Singapore Technology Center. According to previous news, Coinbase is committed to expanding the scope of services it provides to Singaporean customers. In March this year, Coinbase opened local bank transfer services for free to Singaporean users.
3. OpenSea launches a one-stop shop, OpenSea Studio, to support NFT project publishing and management
On October 4, according to official news, OpenSea announced the launch of OpenSea Studio, a one-stop shop for creators to publish and manage projects, which supports NFT casting in their own wallets, building on most blockchains compatible with OpenSea, and allowing collectors to cast NFTs using credit/debit cards. OpenSea also announced plans to add new features in the coming months.
4. Oasis Network will launch syROSE, a synthetic version of its native ROSE token, in the fourth quarter
On October 4, according to CoinDesk, the privacy computing network Oasis Network will launch syROSE, a synthetic version of its native ROSE token, in the fourth quarter of 2023. Oasis will work with SYNTHR to introduce ROSE to six blockchain networks, including Ethereum, Arbitrum, Avalanche, Polygon, and BNB Chain. By enabling seamless exchanges, staking, lending, etc. on various Web3 blockchain platforms, syROSE will enable Oasis users to quickly and easily transfer their tokens to ecosystems outside of Oasis.
5. MakerDAO has added $169 million in RWA assets in the past week, and the total RWA assets of the agreement are about $3.278 billion
According to makerburn.com data on October 4, MakerDAO has added another $169 million in RWA assets since September 28, including more than $127 million in RWA assets through BlockTower Andromeda, $38 million in RWA assets through Monetalis Clydesdale, $3.61 million in RWA assets through BlockTower S3, and $130,000 in RWA assets through New Silver. In addition, the total RWA assets of the current agreement are approximately $3.278 billion.
6. Immutable released the Immutable zkEVM roadmap, which will be launched on the mainnet from December this year to January next year
On October 5, Immutable released a roadmap for the mainnet launch. In November, it plans to rebuild the Immutable zkEVM testnet and upgrade its first EVM client from Polygon Edge to Geth, ensuring that Immutable zKEVM is as close to Ethereum as possible while being fully compatible with the entire Ethereum tool ecosystem. The zkEVM mainnet will be launched from December to January next year, and developers will be invited to join in groups before opening to the public. In 2024, Immutable will provide a dedicated application chain with the same technology stack and functionality as Immutable zkEVM, but with a unique level of customization. Finally, zk-prover will be introduced, and a trustless cross-chain bridge between Ethereum and Immutable zkEVM will be provided.
7. Ethereum's latest conference: Devnet-9's current network participation rate is close to 90%, which is a positive indicator of the health of the test network
On October 7, Christine Kim, vice president of Galaxy Research, published an article summarizing the 119th Ethereum Core Developer Consensus Conference (ACDC). This meeting mainly discussed the current progress of Devnet-9 (the current network participation rate is close to 90%, which is a positive indicator of the health of the test network. Testing of MEV-related tools, etc.), Devnet-10 launch time (if known problems are fixed, it can be considered to be launched as early as next week. This is most likely the last developer test network, and it will enter the public test network stage later. It is mainly used to test EIP-7514, that is, setting the upper limit of the validator activation queue Max Epoch Churn Limit to 8, slowing down the growth of the ETH staking rate, and buying time for designing a better validator reward plan), Dencun testing timeline (the last meeting agreed to test Dencun on Goerli before Holesky, and many developers also agreed to release Dencun on the public test network before Devconnect, the Ethereum Developer Conference in Istanbul in mid-November this year. Currently, developers are not sure whether they can achieve this timeline).
8. Chainlink officially releases one-stop data solution Chainlink Data Streams
On October 6, Chainlink officially announced that Chainlink Data Streams, a one-stop data solution developed specifically for the DeFi industry, has been officially released. The solution combines two functions: low-latency data transmission and automated transaction execution, aiming to improve response speed and user experience.
9. Optimism: 230 million OP tokens will be transferred to institutional custodians for security purposes
On October 6, Optimism tweeted that it expects about 230 million OP tokens to be transferred on October 5. These tokens belong to core contributors and are being transferred to institutional custodians for security purposes.
10. StarkWare postpones first token unlock to April 2024
On October 4, according to CoinDesk, Ethereum Layer2 developer StarkWare has postponed the first unlocking of its native StarkNet (STRK) tokens to April 2024. Etherscan shows that the new unlocking date has been postponed from the original November 29, 2023 to April 15, 2024. A StarkWare spokesperson said the team is focusing on technical development and is updating the roadmap as needed, including updates to locks. It is not clear how many tokens will be affected by the delay.
11. Solana v1.16 update introduces “confidential transfer” function and enhances user privacy
On October 8, according to The Block, Solana's v1.16 update introduced the "Confidential Transfers" feature, which enhances user privacy through encrypted SPL token transactions. This is a new token program introduced by Token2022 to enhance Solana's current token functionality. This allows people to conduct blockchain transactions without revealing key details of the transaction, such as the transaction amount.
(III) Others
1. CertiK: 184 security incidents occurred in the third quarter, with a loss of nearly US$700 million
On October 2, according to a report by blockchain security company CertiK, a total of 184 security incidents occurred in the third quarter of this year, resulting in a loss of nearly US$700 million in crypto assets, exceeding the US$320 million in the first quarter and US$313 million in the second quarter, making it the "most financially lossy" quarter of the year.
Among all types of attacks, private key leaks were the most destructive, with 14 security incidents resulting in losses of more than $204 million. In addition, exit scams and oracle manipulation were also common this quarter. There were 93 exit scams this quarter, resulting in losses of more than $55 million in digital assets; there were 38 oracle manipulation incidents, resulting in losses of more than $16 million in cryptocurrencies.
2. Data: Ethereum futures ETF's trading volume in the first few hours was less than $2 million
On October 3, Bloomberg EFT analyst Eric Balchunas tweeted that the trading volume of Ethereum futures ETF in the first few hours was quite flat, less than $2 million. Compared with the trading volume of ProShares Bitcoin futures in the first 15 minutes, which was as high as $200 million, this number is very low. According to previous news, ProShares, VanEck and Bitwise launched the Ethereum futures ETF on Monday. Investors can purchase ProShares ETFs through brokerage accounts without the need for cryptocurrency custodians, exchange accounts or wallets.
3. Grayscale September Market Report: Bitcoin still performs strongly amid global market turmoil
According to Grayscale's September market report released on October 5, Bitcoin performed well in the global market volatility in September 2023. Bitcoin rose 4.1% in September, while most traditional assets suffered significant losses, especially in the context of rising U.S. bond yields, showing Bitcoin's characteristics as a "store of value" and "crisis haven". The report further indicates that Bitcoin's next price catalyst may come from the approval of a Bitcoin spot ETF. In particular, the SEC must seek a retrial of Grayscale's recent court ruling by October 13. If the SEC abandons the appeal, it will reconsider Grayscale's application to convert GBTC into a spot ETF, as well as other related Bitcoin spot ETF applications.
4. Federal Reserve data: Bitcoin performs better than the US dollar in resisting inflation
On October 5, according to Cointelegraph, the Federal Reserve St. Louis Branch compared the inflation resistance of Bitcoin (BTC) and the U.S. dollar (USD) in purchasing eggs in a blog post, and the results showed that Bitcoin performed better than the U.S. dollar in resisting inflation. The author of the article measured the price of a dozen eggs in Bitcoin and U.S. dollars respectively based on data from January 2021 to date. Although Bitcoin prices fluctuate greatly, starting from the peak in December 2022, the number of sats required to buy the same number of eggs with Bitcoin has decreased more than the U.S. dollar. As of August 2023, Bitcoin holders have reduced the amount of Bitcoin needed to buy eggs by 70%, while the U.S. dollar has decreased by 58%.
5. Data: Total investment in crypto companies has shrunk to about $7.3 billion in 2023, and employment has fallen by more than 5% recently
On October 6, according to Bloomberg, data from data company PitchBook showed that as of September 19, the total investment transactions for cryptocurrency and blockchain projects this year had shrunk to about US$7.3 billion, about a quarter of the total transactions for the whole year of 2021 and 2022. At the same time, jobs in the encryption industry are decreasing. According to data from labor intelligence company Revelio Labs based on 35 large companies, although the encryption industry's labor force grew at a rate of more than 18% in early 2022, employment has been declining throughout the year, with the most recent drop exceeding 5%.
6. In the past year, the North Korean hacker group Lazarus Group laundered more than $900 million through cross-chain bridges
On October 7, according to Yonhap News Agency, from July last year to July this year, the North Korean hacker group Lazarus Group laundered more than US$900 million (about 1.2 trillion won) in cryptocurrency through the cross-chain bridge, accounting for about one-seventh of the total amount of money laundered through the cross-chain bridge in the past year (US$7 billion).
7. Vitalik wrote: Changes in protocols and staking pools can improve decentralization and reduce consensus overhead
On October 7, Ethereum co-founder Vitalik Buterin just published a blog post titled "Changes in the protocol and staking pools can improve decentralization and reduce consensus overhead." The article explains the two types of participants in the emerging two-tier staking model (node operators and delegators), the two main flaws of the status quo (centralization risks of node operators and no consensus layer burden), and how two-tier staking works. The article also analyzes the importance of having delegators from the perspective of the protocol. The article proposes three ways to expand representative voting rights: better voting tools within the pool; more intense competition between mining pools and sealed delegations. And specific consensus participation.
2. Investment and Financing Situation Last Week
1. DeFi
1. On-chain credit risk management company Cicada Partners completed a $9.7 million Pre-Seed round of financing, led by Choppa Capital
On-chain credit risk management company Cicada Partners announced the completion of a $9.7 million Pre-Seed round of financing, led by Choppa Capital, with participation from Bitscale, Bodhi Ventures, and Shiliang Tang.
2. Crypto startup Ostium Labs completes $3.5 million in financing to develop perpetual contract trading for digital commodities
Crypto startup Ostium Labs has raised $3.5 million to develop a perpetual swap protocol for digitized commodities. Backed by a diverse group of investors including General Catalyst, LocalGlobe, SIG, and Balaji Srinivasan.
3. Solana Ecosystem DEX Convergence RFQ Completes $2.5 Million Pre-seed Round of Financing, Led by C² Ventures
Solana ecosystem DEX Convergence RFQ completed a $2.5 million pre-seed round of financing with a valuation of $30 million, led by C² Ventures, with participation from Big Brain Holdings, Israel Blockchain Association, Auros Global and others.
4. RWA tokenization platform DigiShares completed $2 million in financing and plans to raise another $1.2 million
DigiShares, a real-world asset (RWA) tokenization platform, announced that it has completed a $2 million financing. The specific investor information has not been disclosed. DigiShares is raising an additional $1.2 million through the crowdfunding platform Republic.
5. L1 Advisors completes $1.6 million seed round, including $1 million strategic investment from VanEck
L1 Advisors, an on-chain wealth and asset management protocol, has completed a $1.6 million seed round of financing, including a $1 million strategic investment from VanEck, and participation from Ironclad Financial, Ismail Jai Hokimi, and others.
6. Liquidity pledge platform Accumulated Finance V2 completes financing, Curve and others participate
The Accumulated Finance team announced that the liquidity staking platform Accumulated Finance V2 has completed a new round of private equity financing. Curve, De Facto Capital, Stake DAO and others participated in the investment, and the amount of financing has not yet been disclosed.
2. Blockchain Games
1. GameFi platform NexGami completed a $2 million seed round of financing, with a post-investment valuation of $20 million
GameFi platform NexGami announced the completion of a US$2 million seed round of financing, with participation from Polygon Ventures, Fundamental Labs and Ledger Capital, with a post-investment valuation of US$20 million.
3. Infrastructure & Tools
1. Blockchain product development company Trinetix completes $10 million strategic financing
Blockchain product development company Trinetix announced a $10 million strategic investment from investment fund Hypra. The new funds will enable Trinetix to further expand into Latin America, enhance its operations for North American customers, and expand its Latin American market.
2. TON received tens of millions of dollars in investment from MEXC Ventures
The Open Network (TON), a decentralized blockchain platform, has received an undisclosed amount of $10 million in investment from MEXC Ventures, a venture capital firm under MEXC. At the same time, MEXC and the TON Foundation have established a strategic partnership to promote the accessibility of Web3 globally by lowering barriers to entry.
3. AirDAO announces $7.5 million investment from DWF Labs
AirDAO announced in its official blog that it has received a $7.5 million investment from DWF Labs (with a one-year lock-up period and a 36-month unlocking period) to promote wider adoption of the AirDAO ecosystem. This is a continuation and expansion of the partnership following the $2 million investment from DWF Labs in September 2022.
4. Privacy protocol Fairblock completes $2.5 million pre-seed round of financing, led by Galileo
Privacy infrastructure provider Fairblock has completed a $2.5 million pre-seed round of financing, led by Galileo, with participation from Lemniscap, Dilectic, Robot Ventures, GSR, Chorus One, Dorahacks and Reverie.
(IV) Venture Capital Institutions
1. CMCC Global's new fund has raised US$100 million and will invest in Hong Kong blockchain companies
CMCC Global, a Hong Kong venture capital firm focusing on cryptocurrency, announced that its newly established fund "Titan Fund" has completed its first round of fundraising of US$100 million. More than 30 investors including Block.one, Pacific Century Group, Winklevoss Capital, Jebsen Capital and Animoca Brands founder Yat Siu participated in the investment.
(V) Others
1. Web3 catering platform Blackbird completes $24 million Series A financing, led by a16z
Web3 restaurant loyalty app Blackbird announced the completion of a $24 million Series A funding round led by a16z Crypto, with participation from QED, Union Square Ventures, Shine, Variant, and several restaurant groups. This round of financing brings Blackbird’s total financing to $35 million, and the company plans to use the funds to expand its business.
2. Web3 social application Phaver has completed a $7 million seed round of financing, with a valuation of approximately $80 million
Web3 social application Phaver announced that it has completed a $7 million seed round of financing, with participation from Polygon Ventures, Nomad Capital, Symbolic Capital, dao5, Foresight Ventures, Alphanonce, f.actor, Superhero Capital, SwissBorg and other institutions.
3. On-chain art agency Fountain announced the completion of financing, Flamingo DAO incubation, 6529 Capital and other investors
On-chain art brokerage company Fountain announced the completion of financing, the amount of which was not disclosed. Fountain was incubated by Flamingo DAO, and participated in the investment by Collaboration+Currency, Sfermion, VonMises, Cozomo de’ Medici, 6529 Capital, etc.
3. Last week’s main track data
1. RWA
According to defillama’s statistics, the total TVL of the RWA track has reached 2.41 billion US dollars, a slight increase from last week, and the total locked volume (TVL) ranks 8th. Defillama has included 29 RWA protocols, one more than last week.
Among these RWA (real world asset) tokenization projects are U.S. Treasury tokenization and real estate tokenization.
According to data from the rwa.xyz platform, the scale of U.S. Treasury tokenization has reached US$665 million, a slight increase from last week, with an average yield of more than 5%.
Among these U.S. Treasury tokenization projects, Franklin Templeton Benji Investments Market Cap on Steller has the highest market value, reaching US$306 million, with a yield of 5.19%.
MakerDAO
As of writing, the size of Dai in the DSR has increased by 283 million from last week to 1.67 billion, and the total amount of Dai has increased to 5.56 billion, a slight increase from last week. The DSR deposit rate is 5%.
Among them, sDAI was 1.138 billion, a slight increase from last week.
Let’s take a look at the distribution of DAI.
The share of DAI in DEX and Lending has been declining since October 2022, while the holding rate of DAI in EOA accounts has been rising, reaching 52.9%, a slight decrease from last week. Since the DSR adjusted the interest rate, the share of DAI Savings has become larger and larger, and has now reached 30.1%.
Currently, the ones with the highest proportion are: EOA, DAI Savings and Bridge.
The TVL of Maker's own lending protocol Spark reached 693 million, an increase of nearly 700 million from last week.
According to dune platform statistics, RWA accounts for 66.6% of MakerDAO's revenue, an increase of two percentage points from last week. The high proportion is related to MakerDAO's vigorous layout in the RWA track.
2. LSD
Currently, the amount of ETH staked in the beacon chain has reached 27.36 million ETH, a slight increase from last week, accounting for 22.78% of the total supply of ETH, and the number of nodes is 850,000.
The current ETH staking yield is approximately 3.44%. As the quality increases, the yield is decreasing.
Among the three major protocols, in terms of ETH staking volume, Lido increased by 3.78% in a week, Rocket Pool increased by 1.90% in a week, and Frax increased by 5.12% in a week.
Judging from the price performance of the three major protocols, LDO fell 4.6% in a week, RPL rose 8% in a week, and FXS price fell 5.36% compared with last week.
3. Ethereum L2
According to data statistics from the l2beat platform, Ethereum Layer2 TVL has decreased by 3.26% in the past week, and the current TVL is US$10.71 billion.
In Ethereum Layer2, Arbitrum still has the highest TVL, accounting for 54.53%. The fastest growing one in recent times is of course Base, with its TVL increasing by 25.16% in the past week to US$557 million.
4. DEX
TVL
According to data from defillama, the total locked value of the DEX track is US$11.495 billion, a slight decrease from last week.
Uniswap ranks the highest in terms of locked value, followed by Curve, PancakeSwap, Balancer, SUN and Thorchain. The TVL of most DEXs has decreased compared to last week.
Among them, the DEXs with the highest TVL on the Ethereum mainnet are Uniswap, Curve, Balancer, Sushi, and Loopring.
The above are the top 6 DEXs in terms of TVL on Arbitrum, OP Mainnet, zkSync Era, Starknet, and Base chain.
The above are the top 6 DEXs in terms of TVL on other Layer1 chains.
Trading volume
The trading volume of decentralized exchanges (DEX) in the last 24 hours was nearly 1.31 billion US dollars, which was a decrease from last week. The total trading volume of global cryptocurrency exchanges in the last 24 hours was 34.5 billion US dollars, of which DEX trading volume accounted for only 3.8%.
5. Derivatives DEX
TVL
According to the data from Defillama, most of the TVL of derivatives DEXs have increased recently, mainly due to the increase in token prices.
In the derivatives track, GMX has the highest TVL, followed by dYdX, Gains Network, MUX Protocol and ApolloX.
Trading volume
According to data statistics from the coingecko platform, the decentralized derivatives trading platform with the highest trading volume is dYdX, with a trading volume of US$275 million in the last 24 hours, far higher than the trading volume of other decentralized derivatives platforms.
4. Recent Token Unlock
Recently, the token unlocking of 6 projects is worthy of attention, among which the unlocking amounts of APT and SWEAT are relatively large.
