Daily Notes 26-10-2023
Developments
Circle has partnered with crypto exchange, BitoPro, and FamilyMart, a convenience store franchise chain with shops throughout Asia, to work on a service that will allow customers in Taiwan to redeem their FamilyMart loyalty points - “FamiPoints” - for cryptocurrencies, like USDC, via their BitoPro account.
J.P.Morgan’s “Coin Systems”, which uses a permissioned distributed ledger (a private blockchain) to facilitate 24/7 cross border payments, now facilitates $1 billion in daily transactions.
DYDX Chain Launches
Today, the dYdX chain (v4) went live to mainnet and produced its genesis block. The frontend for bridging to the chain is set to go live on the 30th of October.
During the alpha stage after the bridge is deployed, dYdX will limit trading functionality to prioritise stability and security.
Prisma Finance will be launching their governance token, PRISMA, on the 2nd of November.
3% (9 million PRISMA) of the total supply will be distributed towards veCRV voters, who voted to whitelist mkUSD and Prisma pools on Curve finance, and Prisma point holders, who received points for engaging with the protocol.
EtherFi Partner With Polygon zkEVM
ether.fi has partnered with Polgyon zkVM to bring native ETH staking to the chain. Soon users will be able to stake their native ETH directly on Polygon zkEVM by acquiring weETH, ether.fi’s wrapped version of their LST, eETH.
Arbitrum Orbit, a service that allows users to create chains that settle on a Arbitrum L2, is “mainnet ready”. Users are still advised to first deploy on testnet to mitigate the risks of a new chain.
Sifu Shorts $5M On-Chain
0xSifu has migrated his $4.95M ETH short from Synthetix to GMX.
His liquidation level is $2,014 (+13%).
Trending Assets
Below $100M MC by performance, on chain
XMON is the top performer for tokens below $100M MC, and is up 34% over the past day.
Above $100M MC by performance, on chain
GNS, up 5.03%, QNT, up 3.12%, and RPL, up 2.96%, performed well today.
Above $1B MC by performance, on chain
ARB, up 1.52%, outperformed over the past day.
Trading Volumes
Similar trading volumes to yesterday: ARB, PEPE and LINK had the highest trading volumes over the past day.
TVL
TVL Above $10M
Over the past day:
ALEX, DEX on Stacks, TVL grew by 109.63%.
Maple, multichain RWA, TVL grew by 108.58%.
Cetus, multichain DEX, TVL grew by 12.20%.
Fees
No notable changes in terms of fees earned.
Governance Proposals
[BIP463] Enable D2D/rETH 80/20 Gauge [Arbitrum]
Balancer proposal to activate a 2% capped gauge for an 80% D2D / 20% rETH pool on Arbitrum.
[BIP-462] Enable axlETH/WETH Gauge [Base]
Balancer proposal to activate an uncapped gauge for a stable axlETH/WETH pool on Base network.
[BIP-461] Enable swETH/wstETH gauge [Ethereum]
Balancer proposal to enable a Balancer gauge for a swETH/wstETH pool on Balancer Ethereum.
Staking Router Module Proposal: Simple DVT
Lido proposal for DAO approval for the addition of a new module that will utilize Distributed Validator Technology (DVT) on mainnet through Obol Network and SSV Network implementations.
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