Daily Notes 21-11-2023
Developments
Binance has agreed to pay $4.3 billion in total to end the DOJ’s investigation of alleged money laundering, sanctions violations and more. CZ, the founder of Binance, has also agreed to resign and pleaded guilty to violating the Bank Secrecy Act. He will pay a fine of $50 million to the CFTC and is expected to enter his plea “on Tuesday, with sentencing at a later date”. Richard Teng will be replacing him as CEO of Binance.
Blast announced that they will be launching an EVM-compatible optimistic rollup L2. Blast is founded by previous Blur founder, Pacman, and will give users native yield for their ETH and stablecoins.
Over $73.6 million has been sent to the bridging contract so far.
The project raised $20 million from Paradigm, Standard Crypto, eGirl Capital and Primitive Venture as well as additional investments from angel investors.
Blur users have 44 days to claim their season 2 airdrop. So far hanwe.eth has claimed the largest amount of BLUR tokens valued at $8.45 million and the second highest user claimed $7.4 million of BLUR. So far 259 million tokens (84.29%) have been claimed across 31,000 addresses.
Tokenized Uranium has debuted on-chain via Uniswap. The token, Uranium3o8 (ticker U), is backed by Uranium from Madison Metals with each token representing one pound of physical uranium. Token holders must own 20,000 Uranium3o8 to take delivery of the physical Uranium and of course must meet strict regulatory requirements.
Ondo Finance’s yield-bearing, short-term treasury backed stablecoin USDY has launched on Injective’s L1.
The Avalanche chain has reached an all new daily transactions high of 5.75 million as Avalanche “inscriptions” (ASC-20s) have become popular.
Kinto, an L2 focused on providing safe access to financial services, has migrated from Ethereum to Arbitrum. Kinto aims to build a kyc-compliant layer 2 chain to support both DeFi and real world financial institutions.
Trending Assets
Below $100M MC by performance, on chain
FTT, up 13.64%, ACX, up 9.30%, are the top performers for tokens below $100M MC over the past day.
Above $100M MC by performance, on chain
BLUR had a good day, up 10.05%, following the announcement of Blast L2, and the news that BLUR staking will give airdrop eligibility for BLAST.
Above $1B MC by performance, on chain
MKR had a good day, up 2%. They recently commenced buy backs again.
Trading Volumes
MKR, LUSD and UNI tokens have strong volume on chain at the moment.
TVL
TVL Above $10M
Over the past day:
UwU Lend, lending on Ethereum, TVL increased by 233.90%.
Scallop Lend, lending on Sui, TVL increased by 15.13%.
Fees
Optimism fees earned are up 265.17%, PancakeSwap fees earned are up 129.32% and Raydium fees earned are up 112.79% over the past day.
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