Daily Notes: 19-07-2023
Developments
Ethereum ICO Participants Moves Coins to Kraken
Ethereum ICO participant (0x8b5) has deposited all 61.216K ETH (currently worth $116.74M), which they had received from the ICO to Kraken (Kraken Deposit: 0x828). The ETH ICO price was approximately $0.31.
BNB Burn
BNB Chain recently completed its quarterly "auto-burn," removing 1,991,854 BNB tokens, equivalent to $480 million, from circulation. This burn event reduced the circulating BNB supply by roughly 1.2%.
You can monitor burns at this site: https://www.bnbburn.info/
Tx here.
8 BTC ETFs Put on Register
The U.S. Securities and Exchange Commission (SEC) has accepted applications to create spot bitcoin exchange-traded funds from six firms today, putting them on their register.
Once applications are registered, they trigger a 240-day review period, broken down into four phases of 45, 45, 90, and 60 days respectively. At the end of each phase, the SEC decides whether to approve, reject, or postpone the application. Therefore, September 2, 2023, stands as the next crucial date to monitor.
A reminder of the current timeline:
Sui Passes Solana in Daily Transactions
Sui daily transactions have surpassed Solana's over the past few weeks.
Over the past 7 days, Sui has average 18.15M daily transactions per day, while Solana has averaged 16.99M Both Sui and Solana have much higher transactions per day compared to Aptos and Near, who combined average 726.6K transactions a day.
However, in every other metric, Solana continues to dominate other non-EVM chains: For daily active addresses, over the past week: Solana averaged 264.1K, Near averaged 81.2K, Sui averaged 32.4K, Aptos average 18.5K.
Solana also continues to hold the most TVL, at $312.7M, whereas: Aptos has a TVL of $42.32M, Near has a TVL of $36.93M, Sui has a TVL of $13.01M.
Solana holds more than 75% of the TVL market share amongst the four. Additionally, with the recent rise in Solana DeFi and TVL, Solana's TVL dominance has been growing.
Fortunafi, a RWA protocol, will deploy native Treasury Bills on Canto.
1inch Token Balance on Centralized Exchanges Surges to $65M
The number of 1INCH tokens held in CEX wallets has reached a new ATH on Tuesday, surpassing 184.28M tokens (equivalent to $65M).
184.28M 1INCH represents 18.65% of the circulating supply and 12.2% of the total supply.
Cumulative BIT to MNT Conversion
With the launch of Mantle, users are able to convert their BIT to MNT at a 1:1 ratio through Bybit or via a smart contract.
So far, a cumulative 49.7M BIT ($28.47M) has been converted to MNT via the contract.
Trending Assets
Top 300 Performers
Notable performers today were BIT / MNT & Optimism. Analyst, Mlze, noted Optimism released some info about Base chain today at ETHcc & are planning to release more next week.
Proof of Attendance:
Top 300 Losers
RLB experiencing high volatility after trending up strongly for the past 2 months.
Below $100M MC by performance, on chain
HarryPotterObamaSonic10Inu (BITCOIN), up 29.23%, MULTI, up 19.68%, and UNIBOT, up 18.18%, are the top performers for the day for lower market cap coins.
Above $100M MC by performance, on chain
BIT, up 15.43%, MKR, up 7.40%, and OX, up 7.21%, are the top performers for coins above $100M MC on chain.
Notably, OX is up 53.25% and SNX is up 35.06% over the past 7 days.
Above $1B MC by performance, on chain
ARB, up only 0.85%, is the top performer for coins above $1B MC on chain.
Trending Contracts
Arkham: Airdrop and Arkham: ARKM are both part of the top 15 gas users over the past day.
TVL
Any Protocol
Over the past day:
Lighter, a decentralized order book exchange on Arbitrum, grew its TVL by 155.01%.
Y2K V1, exotic derivatives on Arbitrum, grew its TVL by 67.31%.
Aries Markets, decentralised margin trading on Aptos, grew its TVL by 32.45%.
Protocols with TVL Above $10M
Over the past day:
Ondo Finance, RWA on Ethereum and Polygon, grew its TVL by 14.74%.
Drift, perpetual futures on Solana, grew its TVL by 7.09%.
Fees
Ethereum has earned the highest fees over the past day, at $5.75M, which is 31.21% higher compared to yesterday.
Notably, Bitcoin (at $510K) and BSC (at $372K) are, respectively, the 6th and 7th highest fee earners over the past day.
Governance Proposals
RGP-33: Merge Ribbon Finance into Aevo
Ribbon team proposes that Aevo becomes the sole and unified brand and to wind down RBN and launch a new token: AEVO.
DRC - Shifting from LP rewards toward market maker rebates
Increase market maker rebate from 0.5bps to 0.85bps, and reduce the per-epoch LP rewards by 50% from 1,150,685 DYDX/epoch to 575,342.50 DYDX/epoch.
[SIP-26] Deploying Synapse Bridges onto Base Mainnet
Proposal to deploy a stablecoin bridge on day 1 launch of Base mainnet, comprised of nUSD and USDC, with funds sourced from Nima Capital.
Articles / Threads
Rysk Beyond, Rysk Finance’s options protocol, has launched on Arbitrum mainnet. Rysk’s main innovation is the DHV (Dynamic Hedging Vault), a hybrid AMM and RFQ options protocol.
The DHV uses a dynamic approach in hedging risk to generate market-neutral uncorrelated returns for liquidity providers.
After the success of Hot Tub Vaults, Perpetual Protocols delta-neutral yield vaults, Perpetual Protocol is launching Shower Room, which users can deposit into to earn yield through Yearn ‘s Optimism vaults.
