In the world of DeFi this week, Manta Pacific experienced a surge in deposits ahead of their upcoming airdrop, while Unibot expanded its reach into Solana, and PancakeSwap made a strategic move by reducing its token supply.
Market Highlights:
Total Value Locked (TVL) across various chains increased for the second consecutive week, buoyed by anticipation surrounding the BTC ETF approval. Notable performers included ZKFair and Manta Pacific, benefiting from airdrop-focused initiatives.
Insights into zkEVMs:
Immutable’s CTO, Alex Conelly, delved into the evolving landscape of zkEVMs, discussing the proliferation of platforms like Scroll, Polygon zkEVM, Linea, and zkSync. While advancements are evident, challenges persist, including interface standardization and liquidity fragmentation.
Noteworthy Launches and Updates:
Reserve Protocol collaborated with StakeDAO to introduce USDC+, an over-collateralized basket of yield-bearing USDC tokens. Thunder Terminal faced a security breach but promptly refunded affected wallets and bolstered security measures.
L2 Developments:
Manta Pacific’s Lucky Boxes set off an NFT frenzy, offering users a chance to unlock exclusive rewards. Infinex, a Synthetix-backed DEX, debuted on Coinbase L2, while zkSync faced a temporary outage.
Innovations Across Chains:
ZKFair embraced a Fair Mode, safeguarding community interests, and Dolomite introduced vote-enabled ARB on Arbitrum. Notably, Merchant Moe bridged JOE tokens and JOE staking, preparing for the MOE airdrop.
Solana’s Advancements:
Unibot landed on Solana, integrating with Jupiter Exchange and Birdeye for enhanced trading experiences. SolBlaze announced token emission halving, and Multibit geared up to bridge assets between Solana and Bitcoin.
BSC Developments:
PancakeSwap implemented a governance proposal to reduce CAKE token supply, while Rido launched the BNBChain Attestation Service. Venus Protocol hinted at an expansion to Ethereum.
Cosmos’ Latest:
Sei witnessed the launch of Kryptonite, a liquid staking solution, driving significant asset staking. Additionally, Sideswap of ZKFair planned an airdrop encompassing various contributors.
Key Insights:
Pentoshi shared insights on securing returns amidst the market frenzy, especially with the awaited BTC ETF approval on the horizon.
