Daily Notes: 26-06-2023

Jun 27, 2023

Frax Proposal [FIP -256] Optimizing FIP-77’s TWAMM Parameters, has been put up to vote on snapshot.

Proposal argues that currently the FXS buyback TWAMM is monotonic and doesn't take into account price levels
Instead, FIP-256 proposes that the TWAMM should become more aggressive and increase in magnitude at lower price levels, and stop buying FXS at a higher price levels.

USDT Underweight in 3Pool

USDT is now underweight in the 3pool after reaching a 75% weighting in the pool just two weeks ago.

swETH Growth

swETH is the fastest growing ETH staker, adding 58% to it's stake in the past month.

Bitcoin number of addresses with a balance equal to or above 1 (wholecoiners) reach 1 million.

Additionally, BITO, a Bitcoin Futures ETF, had its highest level of weekly net inflow of the year over the last week

Above $100M MC by performance

Above $1B MC by performance

Trending Contracts

Nothing notable here, aside from Jump Trading being back in the top gas users/consumers.
Additionally, it is genuinely interesting to see for how long XEN related contracts have been top gas consumers.

zkSync announces the ZK Stack, a modular, open-source framework that is both free and designed to build custom ZK-powered L2s and L3s (referred to as Hyperchains), based on the code of zkSync Era.

zkSync announces hyperchains (L3’s using ZK Stack) and hyperbridges to connect them.

Maverick Protocol introduces the Maverick Ecosystem Incentive Program. 30.85% of the total token supply is earmarked for airdrops and liquidity mining.
Incentive program will be used to:
- Bootstrap liquidity during Maverick ve-model launch stage 1.
- Incentivize early Maverick ve-model participants (token projects) and ecosystem builders (i.e. metaprotocol builders).