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The $COMP governance drama centers around a proposal to move 5% of the Compound treasury into a DeFi vault controlled by a group known as the "Golden Boys," led by Humpy, known for similar tactics in other DeFi projects.
As Bitcoin issuance continues to halve, transaction fees must become the primary source of fees, otherwise network security is at risk.
Maker's Endgame plan originally was going to launch with several AI-enabled subDAOs to make governance simpler.
Decentralized exchange volume is nearly 15% of centralized exchange spot trading volume, an all-time high.
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In his keynote address, Trump promised to fire Gary Gensler on Day 1 of his administration, which was met with a roar of applause from the audience. He also proposed the creation of a Bitcoin Strategic Reserve using the 200,000 BTC seized by the Department of Justice. Trump told audience members Bitcoin is “going to the moon” and to never sell the digital asset, as it may one day surpass the market cap of gold. He hopes to make the United States the crypto capital of the planet and Bitcoin superpower of the world.
Various Democratic House and Congress members wrote a public letter to the chair of the DNC urging them to “take a forward-looking approach to digital assets and blockchain technology.” They call on the party to add pro-crypto language to the party platform, select a VP candidate with crypto knowledge, a pro-innovation SEC Chair, and lean on industry experts to create better policy.
Electric Capital's "Crypto Market Map" now features over 1,700 crypto projects, with significant contributions from 233 community members who added projects to the market map categories. The map categorizes projects across six layers from user-facing apps to foundational infrastructure, highlighting the role of regular community input to keep the database current and reflective of ongoing developments in the crypto space.
EigenLayer's Actively Validated Services will soon gain the ability to reward stakers and operators for securing their protocols. 4% of the EIGEN supply will go towards further rewarding stakers as a rewards boost. Details on EigenLayer's Season 2 stakedrop will be announced by the Eigen Foundation soon.
AAVE is revamping its staking mechanism and safety module to increase the appeal and sustainability of the AAVE token. The team is considering eliminating slashing risks, using borrowing activity revenue for rewards, and shifting from using staked AAVE for bad debts to using aTokens for added yields. These changes, still in the temperature check phase, aim to enhance token stability and attractiveness, although details on revenue allocation for stakers and incentives for restakers are yet to be determined.
If elected, Robert F. Kennedy Jr. promises to make Bitcoin non-taxable and direct the treasury to buy 4 million BTC, saying it would make Bitcoin worth “hundreds of trillions of dollars.” MicroStrategy's Michael Saylor explained that his 2045 bear case is $3M, base case is $13M, and bull case is $49M per coin.
The State of Michigan Retirement System has invested $6.6 million in the ARK 21Shares Bitcoin ETF, marking it as the second pension fund to invest in spot bitcoin ETFs, signaling a growing institutional interest in crypto assets. Previously, Wisconsin's investment board reported substantial holdings in BlackRock's iShares Bitcoin Trust and Grayscale Bitcoin Trust, indicating a trend towards longer-term institutional investments in bitcoin.
Successful prediction markets rely heavily on regularity. Both DraftKings and FanDuel have high customer acquisition costs and need to retain users who will consistently bet large amounts over time. Regular, recurring markets like sports events or economic indicators are most effective here, whereas less frequent events like elections, which don't encourage repetitive betting, will have lower long-term value.
Coinbase is planning a tokenized money-market fund in a push towards the real-world asset sector.
Helius is now the number one validator on Solana, surpassing both Galaxy and Coinbase.
30 celebrity tokens were launched on Solana by figures like Andrew Tate and Soulja Boy last month, sparking significant initial interest.
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Wall Street struggles to grasp Ethereum's value, with BlackRock simplifying it as "a bet on blockchain technology," which may not resonate with traditional investors. Despite Ethereum ETFs launching, ETH's price has dropped. Analysts maintain a bearish outlook on ETH, highlighting stagnant fundamentals, lack of major marketing, and competition from platforms like Solana as key challenges.
Ethena Labs has introduced reward-bearing asset proposals, inviting issuers to pitch for an allocation from its $45 million Reserve Fund and $250 million in USDe's liquid cash backing. Early applicants include Securitize, distributors of BlackRock's BUIDL, and SteakhouseFi's USDC. Governance will be managed by a newly launched Risk Committee of industry professionals to oversee and approve these allocations.
Gasless transactions are now possible on the TON blockchain because of the W5 smart wallet standard recently developed and launched by Tonkeeper. This allows users to pay transaction fees using USDT instead of toncoin. The TON teams hopes to simplify the user experience and encourage wider adoption by eliminating the need to hold native blockchain currency for transactions.
The Jito Foundation has launched Jito Restaking, a hybrid infrastructure platform with two main components: the Vault Program, which manages Liquid Restaking Tokens (LRTs) and enforces slashing conditions, and the Restaking Program, which coordinates AVSs and operators, handling rewards and penalties. This platform enhances token utility, supports various staking strategies, and aims to secure networks with flexible, multi-asset solutions.
Raydium has half the daily volumes of Uniswap, but higher fees and distribution to RAY holders mean the token accrues more real yield than UNI. RAY's market capitalization is 10% of UNI, giving a market cap to protocol fees ratio of 1.4x versus UNI at 6.7x. This mispricing is likely due to skepticism about Solana memecoin and bot trading, RAY's aggressive issuance schedule, and Uniswap's better brand positioning.
Toyota Blockchain Lab is exploring the concept of Mobility-Oriented Accounts, which would represent vehicles as smart accounts on Ethereum using the ERC-4337 account abstraction standard. Their design addresses critical management challenges and enables multiple stakeholders to be involved in vehicle-related transactions. Toyota deployed the MOA and KeyToken contracts on Ethereum, allowing for the digital representation of basic vehicle operations and granting flexible permissions.
Users can now transfer USDT on Tron to Coinbase Wallet, where it will convert to USDC on Base for free.
Leveraging the introduction of Umbrella, Aave has proposed significant upgrades to enhance $AAVE's role in the ecosystem. Key updates include automating secondary liquidity management, transitioning the safety module to a slashing-free staking module, and introducing the "Anti-GHO" ERC20 token. These changes aim to increase efficiency, generate new revenue sources, and improve protocol coverage at controlled costs.
Uniswap's Arbitrum liquidity mining campaign successfully boosted liquidity, improved price execution, and increased volume market share by deploying 1.8M ARB tokens (~$1.7M USD).
Scroll has surpassed Linea to become the ZK Rollup with the highest TVL at $770 million.
A recent analysis of top trading pairs on Uniswap (Ethereum and Base) and Raydium (Solana) revealed that Solana has a significantly higher volume per dollar of TVL compared to Ethereum, with Base close behind.
Marginfi has launched The Arena, enabling users to long or short any token on the Solana blockchain with leverage.
Pro-crypto Senator Cynthia Lummis plans to announce legislation for establishing a US Strategic Bitcoin Reserve at the Bitcoin 2024 conference in Nashville. Under this plan, the Federal Reserve would hold BTC as a strategic reserve asset, similar to how it holds gold and foreign currencies. Lummis is expected to make the announcement on Saturday before Trump speaks, but details have yet to be finalized.
Ethereum ETFs now boast $10.2 billion in assets across 9 ETFs, with over $1 billion in volumes on the first trading day and over $500 million on day two. Total net flows were $107 million, even after nearly $500 million left Grayscale's Ethereum Trust.
Proton Wallet is a new self-custodial Bitcoin wallet that features a one-click Lightning node installer and an app store for Bitcoin-native applications. Proton aims to simplify Bitcoin transactions and improve user autonomy over their digital assets.
This thread provides a one-tweet summary of 47 top DeFi protocols. It covers various industries, including DEXes, lending, bridging, and restaking, and provides links to find more information.
Account Abstraction (AA) revolutionizes crypto wallets by integrating smart contract capabilities, making them more versatile and user-friendly. With AA, wallets can authenticate through various methods, allow third-party transaction sponsorships, accept different tokens for gas fees, and batch transactions. AA significantly enhances security and usability compared to traditional Externally Owned Accounts (EOAs).
There has been a significant shift in the political landscape regarding blockchain, and the market has responded positively. Q1 had strong growth, but there was a pullback in Q2 caused by an outsized focus on BTC and ETH, new token launches diluting capital and attention, and the “low float, high FDV” meta being criticized. Despite this, Pantera remains bullish, citing potential market tailwinds and “Phase 2” of the bull market where altcoins tend to outperform.
Solana-based AgriDex significantly reduced transaction fees (gas fee + 0.15% facilitation fee) and settlement times (seconds) for a cross-border trade between a South African vineyard and a London importer, facilitating payment for agricultural goods like wine and olive oil over Solana. AgriDex hopes to bring the international agricultural trade onchain and remove complications around managing multiple currencies and extensive paperwork.
This thread breaks down key cryptographic technologies in crypto and their roles in enhancing privacy and security: Zero-Knowledge Proofs (ZKPs), Multi-Party Computation (MPC), and Fully Homomorphic Encryption (FHE).
The Maker Endgame aims to revolutionize saving and earning in DeFi with the upcoming Launch Season with new tokens, rewards, and a redesigned ecosystem.
Russia has allegedly passed a bill within parliament that allows bitcoin and other cryptocurrencies to be used in international trade.
Trump didn't become pro-crypto to win over single-issue crypto voters – he is using this to signal to Silicon Valley that he will be pro-tech in general – and it is working.
Cuban stated that feedback from her campaign suggests that she will be more open to business, AI, and crypto.
BlockFi is finalizing its bankruptcy distribution, which would make customers and unsecured creditors whole. It was one of the first companies to go bankrupt after the collapse of FTX in November 2022. BlockFi can fully compensate customers partly because its $847 million in claims against FTX was monetized at a substantial premium to face value.
Spot ETH ETFs begin trading today in the U.S., with expectations of net inflows ranging from $750M-$1B per month for the first half year. These ETFs will trade on various exchanges and have varying post-waiver fees.
Circle STARKs are a new way to make blockchain proofs faster and more efficient. They use smaller numbers to optimize speed and a “circle” structure for calculations to overcome security challenges and reduce wasted space in computational traces. Researchers are looking at how to make these proofs more user-friendly for use with operations like hashing or signing.
Avail DA is the first modular DA layer that uses proofs and data availability sampling. It already supports integrations with all top L2 chains, RaaS providers, and frameworks. The AVAIL token is used to pay for DA fees and earn staking rewards. Avail also aims to become a permissionless unification layer for web3 through Avail Nexus' cross-chain transaction feature and Avail Fusion's shared security.
In a survey of over 3,500 US adults, Bitcoin ownership was found across political identities, ethnicity, income, and education levels. Owners tended toward young and male. People who owned Bitcoin had significantly higher knowledge and trust in it. Overall, Bitcoin owners, who make up 14% of the population, are moderate, average Americans.
Recently, incentive rewards on Aave created non-organic behavior that resulted in -330% APR for looping borrowers. Fluid, in contrast, is implementing a more sustainable approach by incentivizing ETH lenders rather than borrowers, enabled by its shared pool liquidity and vault system. Its flexible architecture allows more changeable markets to respond sustainably to user behaviors and avoid sudden disruptions.