Weekly Update - DeFi and Layer 1 & Layer 2 News (Week 48, 23/11/2023 - 29/11/2023)
Weekly Update - DeFi and Layer 1 & Layer 2 News (Week 48, 23/11/2023 - 29/11/2023)Blast skyrockets with nearly US$600M in TVL days after launch. dYdX completes mainnet migration, rolls out a $20M launch incentive program. Cosmos founder calls for chain split to create AtomOne.
Weekly DeFi IndexThis week’s market cap index was positive at +3.71%, while the volume and volatility indices were negative at -19.01% and -58.88%, respectively.
Chart of the WeekOn 21 November, the team behind NFT marketplace Blur announced the development of Blast, an Ethereum scaling solution that leverages optimistic rollup technology and aims to reduce transaction costs. It features native ETH and stablecoin yields and promises token incentives to early adopters. The project has significant backing from several venture capital firms, including Paradigm and Standard Crypto. Blast is rapidly gaining traction; however, the project has incited strong discussions among the crypto community for various reasons. For one, the product is not yet live. It also cannot be classified as a Layer 2 — as it lacks a testnet, transactions, a bridge, rollback capabilities, and transaction data transmission to Ethereum — but rather only as an intermediary contract that deposits and locks assets. Despite these concerns, among others, Blast has reached over US$500 million in TVL in less than a week, which includes assets like ETH staked in Lido and DAI in Maker DSR. Blast has surpassed zkSync Era, becoming the fourth largest L2 by value locked. Uniswap’s governance has approved a proposal to delegate 10 million UNI tokens from the DAO’s treasury to seven active delegates (including 404 DAO, Wintermute Governance, PGOV, and StableLab) to combat low participation rates. The tokens will not be tradeable and will only be used for voting purposes, potentially increasing the delegates’ voting power in governance proposals. TVL of Top ChainsTop DEX by ChainNews Highlights
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Weekly Update - DeFi and Layer 1 & Layer 2 News (Week 47, 16/11/2023 - 22/11/2023)
Wednesday, November 22, 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 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.
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