Daily Notes: 27-06-2023
Developments
There are claims that the Sui team has misrepresented emissions and team has been selling rewards from staked SUI on Binance.
Additionally, the Sui team has stated that the SUI emissions chart on Binance is not real,
The SUI emission figures according to DefiSquared to amount to approximately 33M additional SUI per month. In addition, 37M non-foundation SUI are emitted each month from launch pads.
Sui Foundation has denied these claims. Additionally, they have stated that the planned SUI token unlock that is set to happen in November will still happen, where SUI supply will double.
Level Finance announces proposal to:
1. Burn 180K LVL accumulated on TraderJoe LP
2. Implement continuous weekly burning of LVL tokens
Fidelity Preparing to Submit Spot Bitcoin ETF Filing
Fidelity is expected to submit its own filing for a spot bitcoin ETF. This comes shortly after Blackrock submitted its own filing.
Activate veYFI rewards with oYFI Gauges
Yearn proposal to introduce the oYFI token.
The oYFI token will be a reward token for vault gauges, with emission of oYFI rewards based on veYFI lock rate.
After claiming that they had no exposure to Prime Trust, the imploded crypto custodian, TrueUSD reserve report has revealed that $26,434 worth of TUSD backing assets are stuck in a US D.I. that is halting withdrawals.
Yesterday, a top holder of FXS, 0xb74, unlocked $14M of FXS. 0xb74 has received more than $80M FXS from distribution to the Frax Team/Investors.
0xb74 relocked 3 minutes later.
Trending Assets
Above $100M MC by performance
COMP, BLUR WOO and OX (Su Zhu and Kyle’s new exchange OPNX’s token) outperformed today.
COMP is up 18%, BLUR is up 15% and OX and WOO are up 10% each today.
Notably, COMP is up 47% this week and OX is up 42% this week.
Above $1B MC by performance
In tokens with market caps above $1B, ARB and MATIC outperformed on the day, with ARB up 7% and MATIC up 4%. ARB also outperformed yesterday, alongside MAGIC (an Arbitrum GameFi token).
Trending Contracts
Governance Proposals
[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.
RIP45: Use of treasury and pulse emissions to support growth of pxETH
Proposal for the Redacted DAO treasury and 5% of BTRFLY total supply from pulse emissions to be made available for the purpose of launching and growing pxETH, for the year starting from mainnet launch of pxETH, to be managed by the Strategic Asset Committee.
[TEMP CHECK] Integrating MakerDAO's DSR into Aave V3 Ethereum Pool
Proposal to integrate MakerDAO's DAI Savings Rate (DSR) into Aave V3 ETH pool, by integrating sDAI, an ERC-4626 Vault token that includes the DSR yield, into the Aave protocol.
PIP-67 Stake up to 90% of the ETH in the treasury
Proposal to allow the team to stake up to 90% of the ETH in the treasury and get ~4% yield on the amount staked.
Articles:
Celer Announces cBridge Bridging Support for Aura Network
Celer launched cBridge to support Aura
Introducing rETH: A New Liquid Staking Token Joins Raft
Raft will be integrating of rETH, Rocket Pool ETH, into Raft.
Initially, rETH deposits will have conservative parameters, including higher borrowing and redemption fees, due to its currently lower liquidity compared to stETH.
Alchemix Balancer Migrator Tool
Alchemix has developed a liquidity migration tool designed to transition of liquidity from any Sushiswap or Uniswap v2 liquidity pool to a corresponding 50/50 or 80/20 Balancer pool, while also staking the LP tokens in Aura.
