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. G20 countries reached a consensus on the rapid implementation of a cross-border framework for crypto assets, and plan to automatically exchange crypto transaction information between countries from 2027
According to Cointelegraph, the leaders of the G20 countries recently held a summit in New Delhi, the capital of India, and reached a consensus on the rapid implementation of a cross-border framework for crypto assets. The framework will promote the exchange of information on crypto assets between countries starting in 2027. Under the proposed framework, countries will automatically exchange information on crypto transactions between different jurisdictions every year, including transactions conducted on unregulated cryptocurrency exchanges and wallet providers.
2. Chairman of the U.S. SEC: The crypto industry generally does not comply with securities laws, and many cryptocurrencies fall under the jurisdiction of the SEC
According to The Block on September 12, Gary Gensler, Chairman of the U.S. Securities and Exchange Commission (SEC), will attend a hearing of the U.S. Senate Banking Committee on Tuesday morning. He still insists that cryptocurrencies must comply with the same laws as other securities such as stocks, and many cryptocurrencies fall under the jurisdiction of the SEC.
3. Coinbase will promote "global consensus" on cryptocurrency rules through Brazil G20
According to The Block, Coinbase sees Brazil’s G20 as a forum to promote a unified set of rules for global cryptocurrency operators. Nana Murugesan, vice president of international and business development at Coinbase, said that he hopes to work with finance ministries, central banks and regulators to promote “certain principles shared by all countries.”
4. US SEC Chairman: Reviewing the ruling on Grayscale and the Bitcoin ETF application
On September 12, U.S. SEC Chairman Gary Gensler said at a hearing that the SEC is reviewing the ruling on Grayscale and the Bitcoin ETF application. He also said that artificial intelligence and new technologies will challenge the regulations of the U.S. SEC. Fraud and artificial intelligence are "real risks" to the market.
5. The U.S. House of Representatives will hold a hearing on "Supervision of the SEC's Investment Management Department" on September 19
On September 13, Patrick McHenry, Chairman of the U.S. House Financial Services Committee, announced that the House Capital Markets Subcommittee will hold a hearing entitled "Oversight of the SEC's Investment Management Division" at 22:00 Beijing time on September 19.
6. Deloitte and Bitwave form a strategic alliance to provide digital asset compliance solutions for enterprises
On September 13, according to PR Newswire, Deloitte, one of the Big Four accounting firms, announced a strategic alliance with Bitwave, a digital asset accounting platform. The alliance combines Bitwave's software platform with Deloitte's innovative accounting, tax and governance, risk and control consulting services. Bitwave's software platform can automatically incorporate data streams from more than 70 blockchain and decentralized finance (DeFi) ecosystems into ERP systems such as Oracle NetSuite and Sage Intacct. The cooperation between the two parties will help companies using digital assets improve speed and process efficiency, save costs and enhance compliance.
7. The US SEC accuses the creator of the Stoner Cats series of NFTs of providing NFTs without registration
On September 13, the U.S. Securities and Exchange Commission (SEC) today charged Stoner Cats 2 LLC (SC2) with conducting an unregistered crypto asset securities offering in the form of so-called NFTs, raising approximately $8 million from investors to fund an animated web series called Stoner Cats.
8. Coinbase CEO: The US CFTC should not enforce the law against DeFi protocols, and hopes that DeFi protocols will take the CFTC to court
On September 14, Coinbase CEO Brian Armstrong tweeted that the U.S. Commodity Futures Trading Commission (CFTC) should not take enforcement action against decentralized (DeFi) protocols. DeFi protocols are not financial services businesses, and the Commodity Exchange Act is unlikely to apply to them. Hopefully, these DeFi protocols can take the CFTC to court and set a precedent.
9. Monetary Authority of Singapore imposes a 9-year ban on Three Arrows Capital founders Su Zhu and Kyle Davies
According to Bloomberg, Singapore's financial regulator issued a statement on Thursday saying that the country's central bank has imposed a nine-year ban on Su Zhu and Kyle Davies, who were blamed for the collapse of the crypto hedge fund Three Arrows Capital, prohibiting the two from engaging in any regulated activities. The two are also prohibited from managing, serving as or becoming directors or major shareholders of any capital market services company under the Securities and Futures Act.
10. Russian Ministry of Finance official: Russia is studying how to legalize and regulate DAO
On September 14, according to CryptoPotato, Ivan Chebeskov, director of the Financial Policy Department of the Russian Ministry of Finance, said at the 2023 Crypto Summit that Russia is studying how to legalize and regulate decentralized financial organizations (DAOs) in order to bring more liquidity to the local digital financial asset market.
11. U.S. SEC Commissioners Hester Peirce and Mark Uyeda oppose SEC's enforcement action against Stoner Cats
On September 14, U.S. Securities and Exchange Commission (SEC) Commissioners Hester Peirce and Mark Uyeda once again stated their opposition to the SEC's enforcement action to treat Stoner Cats NFT sales as securities, and stated that the application of the Howey test in this case lacked any meaningful restrictive principles.
12. The Chairman of the U.S. Senate Banking Committee urged the SEC and CFTC to use existing powers to increase transparency in the crypto market
On September 15, according to The Block, Sherrod Brown, chairman of the U.S. Senate Banking Committee and Democratic congressman from Ohio, wrote to U.S. Treasury Secretary Yellen, U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler and Commodity Futures Trading Commission (CFTC) Chairman Rostin Behnam on Thursday, urging them to use existing tools to increase transparency in the crypto market and hold criminals accountable to help protect consumers.
13. Hong Kong legislators responded to Vitalik: Hong Kong policies and laws will not change overnight, welcome to Hong Kong to learn about the situation
On September 15, Hong Kong Legislative Council member Wu Jiezhuang said on the X platform: "Yesterday, Ethereum founder Vitalik Buterin shared his views on the development of virtual asset projects in Hong Kong. I respect his right to speak, but at the same time I think he does not understand and know the situation in Hong Kong. I now sincerely invite Mr. Vitalik to come to Hong Kong to learn about the situation. I am willing to coordinate relevant institutions and enterprises to share the situation in Hong Kong with him. Hong Kong is a special administrative region with a complete procedure for formulating policies and laws. Under the 'one country, two systems', Hong Kong has the power to legislate.
14. Dubai and Hong Kong Dubai jointly establish financial services cooperation covering areas such as virtual assets
On September 15, the Dubai Economy and Tourism Bureau and the Financial Services and the Treasury Bureau of the Hong Kong Special Administrative Region Government of China signed a memorandum of understanding to strengthen financial cooperation between Dubai and Hong Kong. The memorandum was signed by Hadi Badri, CEO of Dubai Economic Development Company, Dubai Economy and Tourism Bureau, and Chan Ho-lim, Deputy Secretary for Financial Services and the Treasury Bureau of the Hong Kong Special Administrative Region Government of the People's Republic of China, at the Belt and Road Summit in Hong Kong, China.
15. Director of the National Tax Service of South Korea: We will strengthen the crackdown on tax evasion using virtual assets and other means
On September 15, according to the Seoul Economic Daily, Kim Chang-ki, director of the National Tax Service of South Korea, said in his speech at the 2023 National Tax Management Forum: "We will take severe action against malicious taxation, including new types of tax evasion based on online platforms. In order to deal with tax evasion using virtual assets, we must strengthen the scientific research foundation."
16. The Japanese government relaxes financing regulations and will allow start-ups to raise funds in cryptocurrencies
On September 15, according to Nikkei News, the Japanese government will relax regulations on startup financing, and startups can obtain cryptocurrency investment from VCs. The new regulations will cover funds called investment limited partnerships (LPS).
(II) Project Information
1. The founder of dYdX plans to use the existing token distribution model for DYDX after the launch of dYdX Chain
On September 12, Antonio Juliano, founder of dYdX, said on the X platform that there is currently no plan to compensate validators on the dYdX Chain through additional inflation. DYDX will continue to use the existing token distribution model after the launch of dYdX Chain (inflation has been reduced by more than 60%). It won’t be long before dYdX Chain becomes the Layer 1 closest to Ethereum in terms of the sustainability of the token economic model.
2. Court documents show that FTX has a total of approximately $7 billion in assets, including $3.4 billion in cryptocurrencies
On September 11, court documents showed that the estate of the bankrupt FTX had sorted out about $7 billion in assets, including $1.16 billion in solana (SOL) tokens and $560 million in Bitcoin (BTC). The document stated that in addition to the $1.1 billion held on November 11, the company also received $1.5 billion in cash and held cryptocurrencies valued at $3.4 billion as of August 31.
3. PayPal launches cryptocurrency exchange service for US dollars
According to The Block, PayPal has launched a new cryptocurrency exchange service for US dollars. Previously, the company has launched a service that allows customers to buy cryptocurrencies. In a statement, PayPal said that US crypto wallet users can directly convert their cryptocurrencies into US dollars and add them to their PayPal balance, and then use US dollars to shop or transfer to bank cards.
4. Coinbase Prime launches Web3 wallet for institutional and corporate customers
On September 12, according to the official blog, Coinbase announced that its prime brokerage platform Coinbase Prime has launched an institutional-grade Web3 wallet. Institutional and corporate customers can use the MPC technology of this non-custodial wallet to store any tokens from supported networks (including assets not yet available on Prime Custody), instantly obtain funds, interact directly with dApps and smart contracts, use decentralized liquidity to trade a large number of assets, vote on DAO governance, lend assets or equity, directly access DeFi, buy/sell/mint/manage NFT collections, and manage Web3 social accounts.
5. Bitget launches $100 million EmpowerX fund to finance ecosystem development
According to The Block, Bitget Managing Director Gracy Chen announced the launch of the $100 million EmpowerX Fund at the Bitget EmpowerX Web3 Summit in Singapore on September 12. The fund will seek to invest in regional exchanges, data analysis companies, media organizations and other entities. Chen said: "Under the influence of tightening regulations and the rapid development of Layer 2 and DeFi technology, the CEX field continues to develop, and we expect more investments, mergers and acquisitions to occur in the coming months."
6. The target selection for the FTX 2.0 bidding will be conducted on October 16, and the restart plan will be confirmed in Q2 next year
On September 12, according to the FTX 2.0 restart plan shared by FTX creditor @sunil_trades on the X platform, after the FTX 2.0 auction deadline on September 24, the target selection for the fake horse bidding will be carried out on October 16, the proposal will be solicited in the first or second quarter of 2024, and the plan will be confirmed in the second quarter of 2024.
7. MakerDAO once again increased its RWA assets by $100 million, bringing the total RWA assets of the protocol to $2.713 billion
According to data from makerburn.com on September 15, MakerDAO has increased its RWA assets by $100 million through BlockTower Andromeda since yesterday, mainly investing in short-term U.S. Treasury bonds with an annualized interest rate of 4.5%. In addition, the total RWA assets of the current agreement have reached $2.713 billion.
8. Hong Kong digital asset platform OSL cooperates with Harvest Global to expand STO business
On September 12, according to East Net, active asset management company Harvest Global and BC Technology Group's digital asset business subsidiary OSL announced the establishment of a strategic partnership to explore and develop Hong Kong tokenization-related businesses. The two parties hope to provide a unique and regulated investment method for the capital market through cooperation with security tokens (STO). At the same time, they emphasized that they will develop with the most rigorous compliance, security and information transparency standards.
9. LayerZero and Google Cloud have reached a cooperation, and Google Cloud will serve as the default oracle of LayerZero
On September 12, LayerZero Labs, the team behind the cross-chain messaging protocol LayerZero, announced today a new collaboration with Google Cloud to enhance the security of its cross-chain environment with high-performance and reliable cloud infrastructure and help accelerate the future of Web3 interoperability.
10. Ethereum Holesky testnet is expected to restart from September 22 to September 28
Ethereum research and engineering group Nethermind said developers will restart Holesky within a week. It appears that the next attempt will take place on September 22. Meanwhile, Ethereum contributor and Sigma Prime member Michael Sproul suggested in a GitHub Pull Request that Holesky should be restarted on September 28. This date is nearly two weeks later than the network's first launch attempt.
11. MetaMask launches Snaps feature, which will be compatible with non-EVM blockchains
On September 12, according to The Block, MetaMask announced the launch of a new feature, Snaps, aimed at expanding its use on blockchain networks that are incompatible with the Ethereum Virtual Machine (EVM) itself. Snap is a software module that can be integrated with MetaMask, allowing the wallet to be used across chains, including Cosmos, Solana, and Starknet.
12. 21Shares' parent company launches a series of wrapped tokens, including BTC, XRP and Solana
On September 12, according to The Block, 21.co, the parent company of crypto ETP issuer 21Shares, launched eight wrapped tokens, including BTC, BNB, XRP, ADA and Solana, aiming to expand the adoption of DeFi.
13. Paxos releases first PYUSD transparency report, stating that all transactions are overcollateralized
On September 13, Paxos released the first transparency report of PayPal's USD stablecoin PYUSD. As of August 31, Eastern Time, it included: the total outstanding tokens were approximately $44.37 million. The market value of collateral in U.S. Treasury bond-collateralized reverse repurchase agreements was $43.86 million, with a nominal position value of $43 million; the market value of collateral in other cash deposits held in insured depository institutions was approximately $1.5 million; the market value of collateral in total net assets was $45.36 million, with a nominal position value of $44.5 million.
14. opBNB mainnet is officially launched
On September 13, the opBNB mainnet based on OP Stack was officially launched. In the future, it will focus on enhancing the network's resilience and decentralization through Proof Enhancement, account abstraction, BNB Greenfield's data availability, interoperability with BNB Greenfield, and decentralized sorters.
15. Justin Sun: Huobi’s international brand is officially upgraded to HTX, accelerating global expansion
On September 13, TOKEN2049 platinum sponsor Huobi HTX held the TOKEN2049 Afterparty at the largest club in Singapore tonight. At the event, Huobi Global Advisory Committee member Justin Sun attended and announced that on the occasion of the 10th anniversary of Huobi HTX, Huobi's international brand was officially upgraded to HTX, taking a key step in global expansion. According to the introduction, "H" represents the H of Huobi, "T" represents TRON, indicating the determination to All in TRON, and "X" represents the exchange business.
16. Mauve, a decentralized exchange focusing on RWA, is now online
On September 14, Mauve, a decentralized exchange (DEX) for trading compliant assets and real-world assets (RWA), was officially launched today. Mauve is a subsidiary of Violet, a compliance and identity infrastructure platform for decentralized finance (DeFi) supported by the digital asset division of hedge fund giant Brevan Howard and the venture capital division of cryptocurrency exchange Coinbase.
17. Lido Finance selects Axelar and Neutron to launch wstETH on Cosmos
On September 14, The Block reported that the cross-chain smart contract platform Neutron and the interoperability protocol Axelar have been selected by the liquidity pledge project Lido Finance to launch its wrapped liquidity pledge ether (wstETH) token in the Cosmos ecosystem. Once wstETH is deployed on Cosmos and cross-chain governance is established, Axelar and Neutron are expected to hand over cross-chain deployment control to Lido DAO.
18. ssv.network launches partner mainnet focused on distributed validator technology
On September 14, according to The Block, the decentralized Ethereum staking infrastructure ssv.network launched a mainnet focusing on distributed validator technology, which realizes decentralized staking by connecting users to a network of operators that jointly manage Ethereum validator nodes.
(III) Others
1. Hashdex has submitted an application for a spot Ethereum ETF
On September 12, Bloomberg analyst James Seyffart tweeted that crypto asset management company Hashdex has applied for the spot Ethereum ETF "Hashdex Nasdaq Ethereum ETF".
2. Decentralized exchange DigiFT announces launch of compliant Ethereum pledge token “dETH0924”
According to official news, decentralized security token exchange DigiFT announced the launch of its first regulatory-compliant Ethereum pledge token "dETH0924", providing certified institutional investors with safe and compliant Ethereum and its pledge rewards. Investors will be able to subscribe to regulatory-compliant ETH pledge tokens using fiat currency or stablecoins, with a minimum investment of $5,000. The specific expiration date of the dETH024 token is September 10, 2024, but it can be redeemed every day during its 12-month period.
3. Visa: Plans to test whether stablecoin settlement on Solana can meet the needs of modern corporate financial operations
On September 14, payment giant Visa released a research report titled "In-depth Study of High-Performance Blockchain Network Solana". The report stated that Solana's unique technical advantages, including high throughput of parallel processing, low cost of localized fee markets, and high elasticity of large numbers of nodes and multi-node clients, together create a scalable blockchain platform with a compelling payment value proposition. These are part of the reasons why Visa decided to expand the scope of the stablecoin settlement pilot to include transactions on the Solana network.
4. Boston Consulting Group: The tokenized asset market could surge to $16 trillion by 2030
Bank of America recently called RWA tokenization a “key driver of digital asset adoption.” According to a Bank of America report, the tokenized gold market has attracted more than $1 billion in investment. Demand for tokenized U.S. Treasuries is also growing, and the total market value of tokenized money market funds is approaching $500 billion, according to data compiled by CoinDesk. Global business consulting firm Boston Consulting Group predicts that the tokenized asset market could surge to $16 trillion by 2030.
2. Investment and Financing Situation Last Week
1. DeFi
1. L2 Network Layer N completed a $5 million seed round of financing, led by Founders Fund and dao5
On September 13, Ethereum Layer 2 network Layer N announced the completion of a $5 million seed round of financing, led by Founders Fund and dao5, with participation from Kraken Ventures and Spencer Noon. It is reported that Founders Fund invested $1.8 million in this round of financing.
2. Hybrid on-chain exchange Gravity completes seed round financing, with participation from ABCDE and others
The hybrid on-chain exchange Gravity has completed its seed round of financing, with investors including ABCDE, Matrix Partners China, Delphi Digital, C² Ventures, etc. Gravity plans to launch the testnet in the fourth quarter of 2023 and the mainnet in the first quarter of 2024.
3. DeFi yield aggregator Portals completes $500,000 in seed round expansion financing
DeFi yield aggregator Portals has completed a $500,000 seed round extension financing, with investors including Bankless Ventures, Digital Currency Group (DCG) and Founderheads.
4. DeFi data analysis platform Octav completed a $2.65 million seed round of financing, with Polymorphic Capital and others participating
Octav, a DeFi data analysis and tax reconciliation platform, announced the completion of a $2.65 million seed round of financing. Investors include Nascent, Polymorphic Capital, Parallel Studio, Spaceship DAO, Investmeows, Possible Ventures, Speedinvest, ACET Capital and other institutions, as well as individual investors such as Aave strategy head Markc Zeller and former Sushiswap CEO 0xMaki.
2. Web3
1. Web3 wallet security login system 0xPass completed $1.8 million in financing, with Alchemy Ventures and others participating
On September 11, according to TechCrunch, 0xPass, a Web3 wallet security infrastructure incubated by the Stanford Blockchain Club, announced the completion of a $1.8 million financing round. Participants included AllianceDAO, Soma Capital, Alchemy Ventures, Blockchain Builders Fund, Formulate Ventures, Kommune, Hashed EM, Signum Capital/UOB, Nonce Classic, and individual investors included Balaji Srinivasan and Cory Levy.
2. Blockchain infrastructure Movement Labs completes $3.4 million Pre-Seed round of financing
On September 13, Movement Labs, a modular blockchain infrastructure based on the Move language, completed a $3.4 million Pre-Seed round of financing. Varys Capital, dao5, Blizzard The Avalanche Fund, Borderless Capital and its cross-chain fund focused on the Wormhole ecosystem led the investment. Participants included Colony, Interop Ventures, Elixir Capital, BENQI, and individual investors included George Lampeth (dao5), Calvin Liu (Eigenlayer), Smokey The Bera (Berachain), Anurag Arjun (Avail), CoinFlipCanada (GMX) and the co-founder of Ankr.
3. Web3 financial services company Pafin completes a new round of financing, with participation from Sony Innovation Fund and others
Japanese Web3 financial services company pafin has completed a new round of financing, with participation from DG Daiwa Ventures, Sony Innovation Fund and MZ Web3 Fund. Pafin is developing fintech and Web3-related businesses, such as Cryptact, an automatic profit and loss calculation service for encrypted assets, and defitact, a Web3 home ledger tool.
4. Web3 startup Immix completes $2.7 million seed round of financing, led by MassMutual Ventures
Web3 startup Immix has completed a $2.7 million seed round of financing, led by MassMutual Ventures and participated by Ripple. The funds will be used to develop Immix's trading platform and improve the execution capabilities of its market-making products.
5. Web3 incentive platform Cultos Global completes a new round of financing
Dubai's Web3 incentive platform Cultos Global announced the completion of a new round of financing. Sameer Mehta, founder and CEO of boAt Lifestyle, Tarun Katial, founder and CEO of women's social encryption platform Coto, and Vijay Ratnaparkhe, head of Bosch Southeast Asia, participated in the investment. The specific amount of financing has not been disclosed yet.
6. Web3 cross-chain community operating system Club3 completes $3 million seed round financing, led by LinkVC
Web3 cross-chain community operating system Club3 announced the completion of a $3 million seed round of financing, led by LinkVC, with participation from Yuanwang Capital, BCH Foundation, Digifinex, etc. Club3 has officially launched the first round of a $200,000 community subsidy program, aiming to provide growth subsidies for early high-quality projects. Currently, Club3 has established traffic and community cooperation with hundreds of platforms such as OKX, BNB Chain, HashKey, zkSync, TPwallet, Lens, etc.
(III) NFT/chain games
1. Animoca Brands raises $20 million for its NFT project Mocaverse, led by CMCC Global
Animoca Brands announced that it has received a new round of binding financing commitments to accelerate the development of its NFT project Mocaverse.
Specifically, Animoca Brands raised $20 million by issuing new ordinary shares at A$4.50 per share. As part of the financing, the company issued free additional utility token warrants to investors based on a 1:1 US dollar ratio. The financing was led by CMCC Global, with participation from Kingsway Capital, Liberty City Ventures, GameFi Ventures, Aleksander Larsen (founder of Sky Mavis), Gabby Dizon (founder of Yield Guild Games), and institutional investors from Koda Capital. Animoca Brands' executive chairman and co-founder Yat Siu also participated in the round.
2. Gaming startup Pahdo Labs completes $15 million Series A financing, led by a16z
On September 12, according to Decrypt, gaming startup Pahdo Labs completed a $15 million Series A financing, led by Andreessen Horowitz (a16z). Pahdo did not officially announce other Series A investors, but Crunchbase mentioned that BoxGroup, Long Journey Ventures, PearVC and 2 Punks Capital participated in this round of financing.
3. Web3 collaborative entertainment protocol Mythic completes $6.5 million financing, led by Shima Capital partner
Web3 collaborative entertainment protocol Mythic Protocol completed a $6.5 million seed round of financing, led by Shima Capital partner Yida Gao, with participation from Alpha JWC, Saison Capital, GDV Venture, Planetarium Labs, Arcane Group, Presto Labs, MARBLEX, EMURGO Ventures, HYPERITHM and others.
Mythic Protocol will use this round of financing to develop and launch initial core products.
7. Okapi completes seed round financing, led by Mirana Ventures and Mask Network
Okapi announced the completion of its seed round of financing, led by Mirana Ventures and Mask Network, with participation from GoPlus Security. The financing has not yet been disclosed. It is reported that Okapi is an authentication platform that combines content and reputation.
9. Web3 game studio GamePhilos completes $8 million seed round of financing, led by Xterio and others
Web3 game studio GamePhilos has completed an $8 million seed round of financing, led by Xterio, Animoca Ventures, SevenX Venture and Chain Hill Capital, with participation from Hashkey Capital, Sanctor Capital, Game7, Bas1s, GSR and GSG Ventures.
(IV) Asset Management
1. Modular Labs, a venture capital firm, completed its Pre-Seed round of financing, led by Hashed and K300
Modular Labs, a venture capital firm, has completed its Pre-Seed round of financing, led by Hashed and K300, with participation from GuildFi and GBV. Modular Labs aims to support technicians who develop with modular blockchains.
2. French fintech company Fipto received 15 million euros in seed round financing, led by Serena Capital and Motier Ventures
French fintech company Fipto has raised €15 million in seed funding, led by Serena Capital and Motier Ventures. At the core of the Fipto platform is a commitment to harnessing the potential of blockchain technology. Its comprehensive platform serves as an all-in-one payment and financial solution, enabling businesses to seamlessly convert and transfer any currency, whether fiat or digital, while leveraging the unique advantages of blockchain.
3. On-chain asset management agreement Range Protocol completed a $3.75 million seed round of financing, led by HashKey Capital and Nomad Capital
On-chain asset management protocol Range Protocol announced the completion of a $3.75 million seed round of financing, led by HashKey Capital and Nomad Capital, with participation from Spark Digital Capital, Mirana Ventures, Symbolic Capital, Asymm Ventures and Comma3 Ventures.
3. Last week’s main track data
1. RWA
According to defillama’s statistics, the total TVL of the RWA track has reached US$2.35 billion, an increase of nearly US$1 billion from last week. The total locked value (TVL) ranks 8th. Defillama has included a total of 25 RWA protocols.
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 bond tokenization has reached US$630 million, 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$278 million, with a yield of 5.19%.
MakerDAO
As of the time of writing, the size of Dai in DSR has increased by 208 million from last week to 1.55 billion, a slight increase from last week. The total amount of Dai has increased to 5.457 billion, a slight increase from last week. Currently, DSR accounts for 22.7% of the total amount of Dai, and the DSR deposit rate is 5%.
Among them, sDAI is 990 million, 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 53.7%, a slight decrease from last week. Since the DSR adjusted the interest rate, the share of DAI Savings has become larger and larger, currently reaching 28.0%, an increase of 6 percentage points from last week.
Currently, the ones with the highest proportion are: EOA, DAI Savings, and Bridge.
The TVL of Maker's own lending protocol Spark reached 710 million, a slight increase from last week.
According to dune platform statistics, RWA accounts for 60.1% 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 26.77 million ETH, a slight increase from last week, accounting for 22.28% of the total supply of ETH, and the number of nodes is 836,800.
Currently, the ETH staking yield is approximately 3.85%. As the quality increases, the yield is decreasing.
Among the three major protocols, in terms of ETH staking volume, Lido increased by 0.63% in a week, Rocket Pool increased by 0.28% in a week, and Frax increased by 0.75% in a week.
Judging from the price performance of the three major protocols, LDO rose 2.45% in a week, RPL fell 1.81% in a week, and FXS price rose 0.78% compared with last week.
3. Ethereum L2
According to data statistics from the l2beat platform, Ethereum Layer2 TVL has increased by 1.22% in the past week, and the current TVL is US$9.64 billion.
In Ethereum Layer2, Arbitrum still has the highest TVL, accounting for 54.42%. The fastest growing one in recent times is of course Starknet, with its TVL increasing by 3.68% in the past week to US$144 million.
4. DEX
TVL
According to data from defillama, the total locked value of the DEX track is US$11.79 billion, a slight decrease from last week.
Uniswap ranks the highest in terms of locked value, followed by Curve, PancakeSwap, Balancer, SUN and Sushi. 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 decentralized exchange (DEX) has a trading volume of nearly 780 million US dollars in the past 24 hours, which is an increase from last week. The total trading volume of global cryptocurrency exchanges in the past 24 hours was 22.4 billion US dollars, of which DEX trading volume accounted for only 3.5%.
Among DEXs, the exchanges with relatively high trading volumes include Uniswap, ApeX, Pancakeswap, Ferro, etc.
5. Derivatives DEX
TVL
Judging from the data from defillama, the TVL of derivatives DEX has been declining recently. On the one hand, it is because of the drop in token prices, and on the other hand, it is because the overall trading volume of the derivatives track is declining.
In the derivatives track, GMX has the highest TVL, followed by dYdX, Gains Network, ApolloX, and NUX Protocol.
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$270 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 two projects is worthy of attention. Among them, the unlocking amount of Space ID project token ID is relatively large. The amount of token unlocking this time reached 18.49 million US dollars, accounting for 6.46% of the APE token flow.
