An Ape's Prologue Weekly (17 Feb)

This Week’s Fundamentals

• zkSync Mainnet goes live. It was also rebranded to “zkSync Era” and its code base is fully open-source

• Polygon will launch its zkEVM on March 27th

• The SEC sues Paxos for Binance's $BUSD stablecoin, claiming it is an unregistered security. The $BUSD market cap fell 16% as a result, and $USDT appears to have captured most of that capital outflow

• $BLUR airdrop went live, and the token trades at a $3B valuation. Blur also announced full royalties to NFT creators that block trading on Opensea

• Binance mints $50m $TUSD after SEC crackdown on $BUSD. CZ also has expressed interest in non-USD stablecoins

• Level Finance hits a new ATH as Arthur Hayes makes a strategic investment. It is a BSC perpetual DEX, and sits in the third spot amongst behind GMX and GNS in weekly fees

• SEC declares $LUNA and $UST as securities

• $CFX partners with China Telecom to develop blockchain SIM Cards, causing the token to soar 189%. This comes after a recent integration with China's Instagram and a burn proposal

• Binance announces the listing of $GNS on Innovation Zone, resulting in new all-time-high

• Coinbase briefly lists the $LENS token, sparking Lens Protocol airdrop rumors

• Arbitrum's casino token $AGC crashes 91% due to licensing issues and Liquidity Pool removal

• The Graph enters the Ethereum L2 space as it launches on Arbitrum

• Overtime Markets is now available on Arbitrum. It is the first decentralized sports market leading sports

• Silo Finance launches lending protocol on Arbitrum

• APWine, an interest rates derivatives protocol, launches on Arbitrum

• Abu Dhabi to back early-stage web3 startups with a $2B initiative

• Thena burns 10% of the circulating supply

Next Week’s Fundamentals

• $GNS lists on Binance on February 18th

• FactorDAO's $FCTR public sale on February 20th is on Camelot DEX. FactorDAO is an asset management protocol on Arbitrum

• $TROVE public sale starts on February 17th

• $UNIDX perpetual aggregator v3 expected to launch soon, featuring DEXes from major chains such as Arbitrum, Optimism, Polygon, Avalanche, Fantom, and BNB Chain

• Stader Labs $SD tokenomics improvement to be announced soon as its LSD $ETHx is around the corner

• The proposal to improve $NXM tokenomics is set to end on February 22nd, and it's expected to pass as it currently has a 99.96% approval rate

• $SNX v3, $crvUSD and Shibarium L2 are expected to launch soon

Tweets of the Week

• Thread on decentralized storage networks by Surf

• VC wallet analysis thread by Thor

• Takeaways on the SEC's decision to declare $UST and $LUNA as securities by Haseeb

• Thread on yield farming by CJ

• Thread on Ethereum Layer 2 solutions by Thor