Daily Notes 28-09-2023
Developments
Coinbase will be launching perpetual futures trading for non-US retail clients in the coming weeks via the Coinbase International Exchange. This comes after Coinbase International Exchange received regulatory approval from the Bermuda Monetary Authority.
Nearly 100 projects have applied for the AIP grants which seek to distribute 50 million $ARB tokens (valued at $44.2 million) to projects within the Arbitrum ecosystem that meet select criteria.
The top 3 askers include GMX who has requested 14 million $ARB tokens, Gains Network at 7 million $ARB, and Vertex protocol at 4.5 million $ARB.
Note that projects cannot sell these $ARB tokens nor farm their own projects for the $ARB. The $ARB distributed will also be held in a multisig managed by the grantee project and Arbitrum DAO to clawback tokens if the terms mentioned in the proposal on snapshot are broken.
Although the SEC has extended the decision deadline for ARK 21Shares and VanEck’s ETH futures ETFs to December 26th, the potential shutting down of the US Government may have motivated the SEC to expedite the approval process for the ETF to, as reported by James Seyffart, as close as next week.
VanEck has also posted a promotional video on their spot ETF stating that it is “Coming soon”.
This culmination of posts hinting at the approval of an Ethereum ETF, has been reflected in the market today as BTC increased by 2.5% and ETH by 3.65%.
GMX has revealed that they gave a $1 million bug bounty to Collider’s Research arm last year after they discovered a bug that caused GMX liquidity providers to receive inaccurate quotes on the value of their token which inturn affected the price of the GLP token (a LP token consisting of an index of GMX available assets).
Trending Assets
Top 300 Performers
COMP had a big day, gaining 21%. This move was accompanied by a large increase in OI.
Top 300 Losers
Nothing of note.
Below $100M MC by performance, on chain
JONES is up 32.68% over the past day, following their buyback programme announcement. X2Y2 is up 31.08% and PLS is up 26.88% over the past day.
Above $100M MC by performance, on chain
BAND, up 32.46%, BICO, up 32.31% and COMP, up 21.95%, were top performers for tokens above $100M MC.
Above $1B MC by performance, on chain
LDO, up 8.79%, and ARB, up 8.42%, performed well over the past day.
TVL
TVL Above $10M
Over the past day:
NodeDAO, liquid staking on Ethereum, TVL grew by 30.98%.
friend.tech TVL grew by 9.48%.
Thorchain TVL grew by 8.74%.
Fees
Nothing particularly notable in term of fees earned.
Governance Proposals
dYdX v4 Launch Incentives Proposal
Proposal for $20M in DYDX from the dYdX Chain Community Treasury for a 6-month Launch Incentives Program to be deployed on v4.
Proposal for Stargate Deployment on Mantle
Proposal to deploy Stargate on Mantle.
Articles / Threads
Kwenta Lists stETH/ETH Perp
Kwenta has listed stETH/ETH perps on their platform with a 5,000,000 stETH OI cap.
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