Important DeFi News
SUI mainnet went live, and the initial $SUI distribution details were revealed with 54% held by market makers and 40.5% by users. Public sale investors have had a return of more than 12x
Curve Finance deployed $crvUSD, initially accepting Frax Finance's $sfrxETH as collateral. It will be redeployed today in order to correctly accrue stablecoin rewards to $veCRV
$BTC NFT Ordinals have surged to 3M in inscriptions, and, along with it, Bitcoin's daily transactions and miner fee's have soared to levels not seen since the 2021 bull run
Blur introduced Blend, a perpetual lending protocol for NFTs, unlocking liquidity for its supported assets, including Cryptopunks, Miladies and Azukis
Avax Summit, the largest $AVAX conference, is happening now and will run until May 5th
EigenLayer Stage 1 mainnet is set to launch soon, enabling $ETH restaking
$OHM is set to move cross-chain, starting with Arbitrum
Magic Eden has launched Magic Eden AMM, allowing users to buy, sell and LP NFT pools
Wormhole introduced Wormhole Connect, simplifying bridging integration into dApps
Zcash’s latest software update went live, featuring bug fixes and UX improvements
Wormhole provided bridge support for $SUI since day one of mainnet
Pyth went live on the Injective mainnet, enabling dApps to access on-chain data for 200+ markets
PlutusDAO has completed an OTC deal with Pepe’s Game, swapping $PLS for $PEG
Layer Zero went live on zkSync, connecting it with 30+ other supported chains
Dymension is set to test EVM rollup on Cosmos, making it the first IBC-enabled EVM Rollup
PancakeSwap DAO plans a drastic reduction of $CAKE emissions
Blur will take steps to filter out “cheating” Season 2 airdrop farmers that are spoofing bids
Sommelier went multi-chain through Axelar from Cosmos to Arbitrum, a first step in extending their vaults’ reach across other chains
Arrakis Finance’s $OP liquidity mining is live, with 90K $OP distributed over a 28 day period
Goblintown will be giving the the top 1000 worst NFT traders special previleges to mint its second season NFT - Big Inc, alongside other Truth Labs NFT holders
Governance Proposals
Rocket Pool DAO has proposed to reduce $RPL emissions from 15% to 2%
QuickSwap governance is voting on launching QuickPerps, a DeFi perpetual protocol on Polygon zkEVM, and allocating funds for protocol growth
Uniswap DAO is discussing the introduction of Uniswap Agora, a delegation portal to improve governance experience
Polygon Labs is proposing the deployment of Synapse on Polygon zkEVM
Idle DAO successfully voted to incorporate in the Marshall Islands through MIDAO
Redacted Cartel is proposing to build, launch and maintain Hidden Hand V2, which will introduce new bribe features and add support for Arbitrum and Polygon zkEVM
Next Week's Alpha
Lido V2 is expected in the coming weeks, allowing for $stETH withdrawals
With the launch of $crvUSD, anticipation is built for Aave’s stablecoin $GHO, which is still in development
$PLS V2 tokenomics will go live soon, featuring improved token utility, bribing rewards and reduced inflation
Aave V3 is set to launch on Metis, with the vote currently a 100% in favour of deploying to Metis
Lyra Finance is set to distribute its 400K $ARB DAO allocation to traders and LPs
Coinbase Borrow will stop issuing new loans after May 10th
$GAL will unlock 3.8% of total supply ($12.9M) on May 5th
$TORN will unlock 1.8% of total supply ($1.3M) on May 7th
Aevo’s New Trader Incentive program has been extended until May 14th
News
FTX is seeking to retrieve $4B in repaid loans from bankrupt lender Genesis
The SEC has withdrawn the proposed definition of “digital assets” in its latest hedge fund rule
Coinbase is set to launch an international crypto derivatives exchange for non-US customers
The US government is planning to work on crypto legislation within the next two months
Mastercard is developing their Crypto Credential standards, which will allow cross border transfers for Latin American users
PayPal will enable users to fund wallets through on-chain transfers from Venmo accounts
The UK government has opened consultation in bid to regulate DeFi staking and lending activities
Binance Japan is set to begin operations in June
Nigeria is considering to allow tokenized coin offerings that are backed by non-crypto assets
Cross River Bank has faced FDIC scrutiny over ‘unsound banking practices’
Coindesk Indices and Coinfund has partnered to launch an Ethereum staking benchmark rate that will ease pricing of digital assets
JP Morgan is planning to tokenize traditional financial assets despite regulatory uncertainties
Robinhood has launched a new feature Robinhood Connect to facilitate funding of Web3 wallet
Polygon is set to adopt Google Cloud’s blockchain node tech to ease development of Web3 products
Suberra has launched a new crypto debit card
Poloniex was fined $7.6M for sanctions violations
Sotheby’s is set to launch a secondary NFT marketplace on Polygon and Ethereum network
Revolut is set to offer crypto investments in Brazil
Dubai has formally reprimanded OPNX founders and CEO for operating an unregulated exchange
$BTC spot trading volume on Binance has dropped 65% as Binance ends zero-fee program
Linea, a ConsenSys L2, introduced a loyalty NFT campaign to boost user activity on testnet
Sports Illustrated has launched an NFT ticketing platform on Polygon
White House is seeking to tax crypto miners with tax amounting to 30% of energy costs, which could severely impact the profitability of crypto mining
Moonpay launched a crypto payment app for retail users to ease the management of multiple wallets
Enclave has launched Enclave Spot, a fully encrypted spot exchange
Tweets of the Week
Blur Bid walls overview by An Ape's Prologue
SUI Token Distribution details and Comparative Analysis by An Ape's Prologue
Uniswap’s latest features by Exponential DeFi by Exponential DeFi