Research Summary
- Friend Tech, an on-chain social networking platform, enables users to create shares of themselves, priced using a quadratic bonding curve. A total of 6,195.4 ETH has been traded on the platform.
- Enhanced DAI Savings Rate (EDSR) reached 8% APY, leading to a proposal to cap it at 5% to prevent crowding out average users.
- Justin Sun deposited $332.5 million into Maker to mint DAI and earn 8% yield.
- SparkDAO’s SPK pre-farming airdrop aims to boost trust, liquidity, and community alignment.
- Mantle Ecosystem partnered with Lido, and Rollbit announced a buy & burn program.
- Yield Guild Games (YGG) experienced a coordinated pump, and Coinbase’s L2 Base Mainnet launched.
- A Mantle whale sold $4 million of MNT tokens, affecting the price, and Curve Founder opened a new borrow position.
- Paypal launched its own stablecoin, PYUSD, and Goldfinch faced a default issue with a $5 million loan.
- Yoots migrated to Ethereum, and various assets showed significant performance changes over the week.
- Several governance proposals were made across different platforms, including activating LUSD as collateral on Aave and Balancer’s launch on Base and Avalanche.
- Binance Labs invested $10 million in Helio Protocol, and Aevo introduced multi-collateral options and Pre-Launch Token Futures.
Actionable Insights
- Investment Opportunities: Friend Tech’s unique share pricing model and the EDSR yield opportunities present potential investment avenues.
- Market Watch: Monitor the effects of significant events such as Mantle whale’s sell-off, Paypal’s stablecoin launch, and Binance Labs’ investment in Helio Protocol.
- Strategic Alignment: Consider the implications of governance proposals like activating LUSD on Aave and Balancer’s multichain expansion.
- Risk Management: Assess the risk associated with Goldfinch’s default issue and the coordinated pump of YGG for portfolio management.
