News summarizing the blockchain & cryptocurrency market – May 6
Justin Sun deposited 120,000 eETH into Swell L2, accounting for 46% of the platform TVL
On May 4, TRON Founder Justin Sun deposited 120,000 eETH into Swell L2, a liquid staking protocol on Ethereum. This accounted for 46% of Swell L2's total asset value (TVL), with a total value of up to 376 million USD. eETH is a liquid staking token on Ethereum, and this is the amount of ETH that Justin Sun deposited in mid-March. His wallet started withdrawing ETH from Binance earlier this year. Previously, he publicly announced his views on staking and liquid staking, and emphasized that he only plays an advisory role for these projects. Justin Sun believes that staking/liquid staking has the potential to become an important source of income for international companies and organizations.
Maker announced more information about two new tokens replacing MKR and DAI
On May 4, MakerDAO announced information about two new tokens to replace MKR and DAI. These two tokens are temporarily called NewStable (NST) and NewGovToken (NGT). NewStable is an upgraded version of stablecoin DAI, designed to increase stability and attract more users. DAI holders can convert to NewStable and vice versa. NST holders can participate in farming to earn NGT. NewGovToken represents a new method of governance in the Maker ecosystem, encouraging broader participation and greater flexibility. MKR tokens can be converted to NGT and vice versa. Maker also introduces new mechanisms such as Farming and Lockstake Engine to drive engagement and strengthen governance. This is part of Maker's restructuring plan, which aims to increase the supply of MKR and turn DAI into an independent decentralized stablecoin.
Velodrome deploys DEX to Layer 2 of Optimism Superchain
Velodrome Finance has deployed a decentralized exchange (DEX) on Layer 2 of Optimism Superchain. Developed on the Layer 2 Optimism ecosystem, Velodrome Superchain is becoming the most important liquidity center on Optimism. On May 3, the project launched on Layer 2 of the Optimism Superchain ecosystem, to expand its influence. Velodrome has partnered with several Layer 2s such as Mode, BOB and Lisk to incentivize voting activities and create rewards with a total value of more than 2 million USD. Velodrome Superchain has gone through three stages of development and will link all chains on Superchain to achieve deep liquidity and cross-chain integration. Superchain is a collection of Layer 2 on OP Stack, to support the development of DApps on Ethereum. Velodrome is having the second largest TVL on OP Mainnet and the VELO token price has increased following the announcement of its launch on Superchain.
