Weekly Update - DeFi and Layer 1 & Layer 2 News (Week 6, 01/02/2024 - 07/02/2024)
Weekly Update - DeFi and Layer 1 & Layer 2 News (Week 6, 01/02/2024 - 07/02/2024)EigenLayer TVL surges after staking cap is temporarily removed. Solana network resumes operations after 5-hour outage. dYdX unveils 2024 roadmap with software enhancements and Permissionless Markets.Weekly DeFi IndexThis week's market cap, volume, and volatility indices were positive at +4.75%, +45.82%, and +10.74%, respectively. Chart of the WeekEigenLayer, an Ethereum-based liquid restaking protocol, saw a significant surge in its total value locked (TVL) hours after temporarily removing its staking cap. On 5 February, the protocol announced that it would lift the per-protocol staking cap of 200,000 ETH until 9 February to “invite organic demand” to the network. EigenLayer is pioneering restaking, allowing users to simultaneously earn Ethereum staking rewards while securing Actively Validated Services (AVSs) to generate additional yield. It introduced the caps last year to ensure security and decentralisation, mainly as a way to prevent any single token from dominating the network. The protocol’s TVL saw a US$1.9 billion (92%) increase from last week following the announcement, jumping from just over $2 billion on 31 January to nearly $4 billion as of 7 February.
News Highlights
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Weekly Update - DeFi and Layer 1 & Layer 2 News (Week 5, 25/01/2024 - 31/01/2024)
Wednesday, January 31, 2024
Ethereum Dencun upgrade goes live on the Sepolia testnet. New developments in liquid restaking ecosystem underway; TVL reaches US$2B in Jan 2024. Immutable zkEVM launches, mainnet early access live.
Weekly Update - DeFi and Layer 1 & Layer 2 News (Week 4, 18/01/2024 - 24/01/2024)
Wednesday, January 24, 2024
BIS to focus on tokenisation & CBDC in 2024; tokenised treasuries market cap up 657% YoY. NEAR Data Availability integrates with Polygon CDK. Frax Finance completes V3 rollout, launches Frax Bonds.
Weekly Update - DeFi and Layer 1 & Layer 2 News (Week 3, 11/01/2024 - 17/01/2024)
Wednesday, January 17, 2024
USDC issuer Circle confidentially files for IPO in US. Polygon launches Amoy testnet, zkEVM enters its next stage of development. Cosmos Hub voting on a proposal to set ATOM's inflation rate to 0%.
Weekly Update - DeFi and Layer 1 & Layer 2 News (Week 2, 04/01/2024 - 10/01/2024)
Friday, January 12, 2024
TVL of Ethereum L2 networks reach a record-high of nearly $21B in Jan 2024. Ethereum developers confirm #Dencun upgrade testnet dates. Paxos exploring $PYUSD deployment on AaveAave to boost liquidity.
Weekly Update - DeFi and Layer 1 & Layer 2 News (Week 51, 14/12/2023 - 20/12/2023)
Wednesday, December 20, 2023
Cronos Labs launches the Cronos zkEVM testnet. Ethereum approves ERC-3643, its first compliant tokenisation standard. Circle launches its Euro stablecoin, EURC; AllUnity to launch a Euro stablecoin.
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