Weekly Update - DeFi and Layer 1 & Layer 2 News (Week 47, 16/11/2023 - 22/11/2023)
Weekly Update - DeFi and Layer 1 & Layer 2 News (Week 47, 16/11/2023 - 22/11/2023)Circle launches ‘bridged USDC standard’ on new networks. Aave Companies rebrands to Avara, acquires crypto wallet Family. EigenLayer to launch second phase of its mainnet in H1 2024.
Weekly DeFi IndexThis week’s market cap and volatility indices were positive at +2.24% and +12.06%, respectively, while the volume index was negative at -17.83%.
Chart of the WeekCircle introduced a new ‘bridged USDC standard’ to streamline the process of launching its stablecoin on new networks. This standard allows developers to launch the token through a two-phase process, with the first phase being controlled by a third-party developer. The second is controlled by Circle itself, enabling the token to be backed directly by the company’s reserves. USDC is currently in circulation across several blockchains. This new standard seeks to expand access to USDC and reduce fragmentation by allowing developers to deploy a bridged USDC token contract with the option for Circle to seamlessly upgrade to native issuance in the future. News Highlights
Recent Research Reports
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Weekly Update - DeFi and Layer 1 & Layer 2 News (Week 46, 9/11/2023 - 15/11/2023)
Friday, November 17, 2023
Crypto.com obtains digital asset provider license in Dubai. Circle and Noble to bring native USDC to Cosmos via CCTP. Ordinals mints push Bitcoin transaction fees to reach a new peak.
Weekly Update - DeFi and Layer 1 & Layer 2 News (Week 45, 2/11/2023 - 8/11/2023)
Wednesday, November 8, 2023
Celestia launches its mainnet beta following the TIA token airdrop. Optimism introduces the Canyon Hardfork. Arbitrum DAO passes proposal to allow ARB token staking.
Weekly Update - DeFi and Layer 1 & Layer 2 News (Week 44, 26/10/2023 - 1/11/2023)
Wednesday, November 1, 2023
Ethereum devs confirm Dencun upgrade ruled out for 2023. Arbitrum Orbit is now officially mainnet-ready. Lido DAO raise concerns over LayerZero's unapproved wstETH bridge rollout.
Weekly Update - DeFi and Layer 1 & Layer 2 News (Week 43, 19/10/2023 - 25/10/2023)
Wednesday, October 25, 2023
dYdX becomes open source as it transitions to Cosmos-based blockchain. Celestia gears up for mainnet beta launch. Safereum unlocked and dumped native tokens in US$1.3M exit scam.
Weekly Update - DeFi and Layer 1 & Layer 2 News (Week 42, 12/10/2023 - 18/10/2023)
Thursday, October 19, 2023
Uniswap to charge a 0.15% swap fee on select assets. Ethereum L2 Scroll launches on mainnet. Platypus loses over $2M from a flash loan attack, its third exploit in 2023.
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