Parse notes
The Michigan state pension fund has maintained its investment in the ARK 21Shares BTC ETF and added shares of Grayscale's Eth ETF, now totaling ~$18M in crypto. This reflects a growing trend among government pension funds, both in the U.S. and internationally, toward crypto investments.
The Monetary Authority of Singapore (MAS) is advancing asset tokenization commercialization through Project Guardian, which involves creating new frameworks and expanding infrastructure with global financial institutions. This initiative includes frameworks for tokenizing debt and funds, as well as the SGD Testnet for settlements using a Singapore dollar wholesale CBDC, demonstrating significant progress toward scalable tokenized finance.
Spacecoin has announced plans to create the first blockchain in space. It uses a two-tier architecture with a space-based “Celestial Chain” L1 and an Earth-based “Uncelestial” L2. Spacecoin has already launched three test satellites. The project aims to facilitate a future space economy and secure space-based data centers leveraging the inaccessibility of satellites.
Scroll has launched an SDK platform that allows developers to deploy zkEVM-based L2s in minutes. It also introduced Gadgets, opt-in modules for customizing chain functionality without vendor lock-in. The first Gadget focuses on interoperability between chains using TEEs and zk proofs. Scroll's roadmap extends through Q2 2025, promising enhanced capabilities including high-performance nodes that support >100M gas/second throughput, multi-proof support, and additional specialized Gadgets for staking and keystore functionality.
A comprehensive analysis of Ethereum's Data Availability Sampling (DAS) system demonstrates that under normal conditions and modest networking requirements, the network can effectively perform sampling while maintaining decentralization, with nodes needing to download only 1MB of data per slot in most cases. While the system is robust against large correlated failures affecting up to 35% of nodes, there are challenges with coordinated attacks involving a malicious supermajority (90% of nodes). The study validates the viability of the proposed model where data custody responsibilities scale with the number of validators.
Eternum is an MMO game on Starknet with real-time strategy and exploration elements on an infinite map. EVE Frontier, developed by the creators of the massive multiplayer game EVE Online, is a AAA experience built using Redstone L2 tech that allows players to create modular structures in space. Parallel Colony is using Wayfinder to create AI NPCs that have deep interactions within the game world.
The goal of the agentic economy is to move the Internet from search-based to action-based, where intents and solvers abstract the majority of steps away from the end-user. Thanks to web3, agents can have access to permissionless rails to execute social, financial, and collaborative tasks. As a decentralized social platform, Farcaster has a unique opportunity to become the hub of agents and agent orchestration, and projects like Supercast and Neynar are leaning into this vision. Agents can be added to onchain company accounts and split revenue with teams when it does things like earn tips or create artwork.
Relying solely on T-Bill interest is unsustainable - issuers will need complementary business models to survive. Pure-play stablecoin issuers like Circle and Tether face challenges from traditional institutions, which can issue deposit tokens and leverage existing infrastructure more effectively. Multiple interoperable stablecoins may coexist in the future - success will be determined by complementary business models and control over banking infrastructure rather than network effects alone.
Defunct crypto exchange Mt. Gox recently transferred $2.2B worth of bitcoin (32.37 BTC) to unknown wallets.
Despite some critiques, Ethereum's network's ecosystem and interoperability efforts are improving its value as a base asset, with many projects working to address issues like liquidity fragmentation and user experience.
Monthly transaction fees on Ethereum Layer 2 solutions have decreased by ~90% since Q1 2024, while the transaction volume has increased 3X.
Euler Labs' Euler Prime is a capital-efficient lending market that features diverse collateral assets, tailored LTV ratios, and rEUL rewards for users engaged in lending and borrowing.