An Ape's Prologue Weekly (24 Feb)
An Ape's Prologue Weekly (24 Feb)
This Week’s Fundamentals
$ARBI airdrop rumors are heating up as Arbitrum surpasses Ethereum in daily active transactions for the first time
Coinbase launches BASE, an Ethereum Layer 2 built on top of the Optimism Stack. Base will also share 20% of sequencer fees with Optimism
NBA Top Shot NFTs are declared securities by a federal judge under the Howey Test
Synthetix V3 is now live on Ethereum and Optimism. The upgrade brings improved tokenomics and a more efficient contract architecture
Yearn Finance introduces $yETH, a basket of LSDs with boosted yields
Polygon faces technical issues with nodes going out of sync due to block reorgs
Frax to fully collateralize its $1B stablecoin reserves, currently 92.25% collateralized
LayerZero introduces the Testnet Bridge and creates a market for Goerli testnet ETH
Canto sees a significant decrease in user activity, with daily active addresses and transactions dropping 90% from ATHs over the past three weeks
Synapse announces Synapse Explorer, the most advanced across-chain explorer to date
Eigenlayer, an Ethereum re-staking solution, releases its whitepaper
Spotify tests NFT-enabled playlists, while Web3 music streaming platform Audius integrates Tiktok
Collabland airdrops 25% of the total token supply to over 2M wallets on Optimism
$SUDO, the governance token for the sudoswap NFT AMM protocol**, went live.**
Uniswap introduces the ability to buy NFTs with any ERC-20 token
Evmos launches the Single Token Representation update for improved user experience. Pangolin, one of the leading DEXs on Avalanche, also launched on Evmos
FactorDAO and Nitro Cartel, two Arbitrum projects, raise $6.8M and $14M, respectively, in their public sales on Camelot DEX
Balancer announces Boosted Pools, a new AMM that allows better capital efficiency
Perpetual Protocol announces Hot Tub, a collection of delta-neutral vaults on Optimism
ZigZag, a zkSync-native DEX, released its upcoming airdrop criteria
Primitive, an Arbitrum derivatives protocol, is now live on Polygon
A proposal to expand Camelot Dex's liquidity through the creation of a Hidden Hand Market developed by Redacted Cartel passed
Next Week’s Fundamentals
ETH Denver, the largest Ethereum conference, begins today and runs until March 5th, with expectations for project announcements
The Ethereum Shangai Upgrade is scheduled for February 28th on the Sepolia Testnet to enable staking withdrawals
$DYDX's governance proposal to reduce trading fee rewards by 45% passed with strong backing from Wintermute; on-chain vote expected soon
$KLAY ongoing tokenomics optimization proposal aims to burn 75% of their reserves
Private investors of $GEL to receive 40% of the current circulating supply on February 27th
Stader to launch $ETHx, a Rocket Pool fork with tokenomics featuring a fee accrual mechanism and a natural demand for $SD
There is an ongoing proposal in $LVL to repay LPs who were impacted during the last exploit attack
$CRV's $crvUSD stablecoin and $SHIB's Layer 2 Shibarium are expected to launch soon
Tweets of the Week
Sudo vs Blur comparative analysis by An Ape's Prologue
Optimism explanation by Route2Fi
Technical breakdown of Eigenlayer’s whitepaper by Saniya