Parse notes
Fidelity International has tokenized a money market fund on JPMorgan's Onyx Digital Assets blockchain. It has joined the Tokenized Collateral Network to improve efficiency and reduce transaction costs and operational risks.
Based on other ETH products and market analysis, K33 Research estimates that ETH ETFs could see around 1 million ETH of inflows in their first five months. It looked at the market share of ETH vs. BTC on CME futures contracts, finding that ETH trading demand is typically 35% of BTC's.
Berachain V2 focuses on technical architecture developments, keeping its tri-token model and proof of liquidity incentive structure the same. It introduces BeaconKit, an EVM-focused development framework that allows any Ethereum execution client to be compatible with Berachain V2. This upgrade also introduces single-slot finality, greater efficiency, and an increased limit of 256 validators.
OP Mainnet introduced permissionless fault proofs, moving it into Stage 1 of decentralization with plans to extend these capabilities to more chains like Base and Metal. This upgrade enhances security by allowing any user to challenge invalid withdrawals and includes fail-safes like a Security Council that can revert the system to a permissioned state if necessary. OP Mainnet aims to eventually reach full decentralization in Stage 2.
Cryptoeconomic security has historically been defined as ensuring the cost of corruption is higher than its profit, but modeling adversaries is extremely complex as they may act irrationally. StakeSure redefines security by redistributing slashed funds to the protocol. It is secure as long as the redistributable stake is greater than the harm from corruption to the protocol. This concept is analogous to insurance on packages: a sender chooses how much insurance they want, and if the package is lost, money is distributed to them, regardless of what else happens in the supply chain.
Overinvestment in crypto infrastructure obfuscates product-market fit for consumer crypto apps, emphasizing VC gains on L1 tokens over practical use cases. Projects are now pivoting to chain abstraction, solving the chain and liquidity fragmentation problem created by too many L1s. Galxe has quietly become a leader in this space, finding sector dominance with airdrop distribution and building an identity layer, chain abstraction vault, and the upcoming Gravity Chain.
A Solana validator who performed a sandwich attack had stake delegated to it from the Solana Foundation removed. MEV does not occur natively on the chain since there is no mempool. The Solana Foundation, which delegates less than 16% of all SOL staked, did not want to support exploiting retail trades. The validator can continue running but will not be foundation-subsidized.
BullpenFi's first product, a highly advanced Telegram trading bot, was designed as an all-encompassing platform for retail on-chain trading. The platform includes a mobile-first wallet that simplifies security with passkeys and recovery email, a trading interface that streamlines project evaluation and trading, and generative insights that filter and present relevant crypto discussions (especially from Crypto Twitter) directly within Telegram.
A proposal to combat MEV suggests that each user could have their own block producer to make their own blocks, potentially avoiding unwanted MEV.
This post has 20 fun facts about random topics in Web3, for example, the ETH ICO price was $0.31, 20% of Bitcoin has been lost forever, and the highest gas fee in Ethereum's history was 1,400 gwei (0.04 Ether).
Since launching on May 28, the UK's crypto ETNs (equivalent to ETFs) have only generated $500,000 in volume.
UwU Lend is a decentralized finance (DeFi) protocol that functions as a liquidity market, allowing users to deposit and borrow digital assets.