Research Summary
The report covers a wide range of topics in the crypto and blockchain space, including updates on various projects, token launches, partnerships, and regulatory developments. It also discusses the launch of new features on existing platforms, governance proposals, and financial data related to crypto exchanges and tokens.
Key Takeaways
Project Updates and Token Launches
- dYdX Chain Launch: dYdX Chain has officially launched, distributing 100% of network fees to validators and stakers. Starknet Foundation has also announced a distribution of 50M $STRK to early Starknet community members.
- Polygon’s $POL Token Upgrade: Polygon’s $POL token upgrade is live on Ethereum. The token migrator contract for $MATIC to the new token is integrated on various dApps.
- Celestia’s Mainnet Launch: Celestia, a modular data availability network, has gone live on mainnet with the $TIA airdrop accounting for 14% of total circulating supply.
- Launch of TokenFi by $FLOKI: $FLOKI has launched TokenFi, allowing users to launch ERC-20 and BEP-20 tokens without writing code.
Partnerships and Integrations
- Mantle and TON Foundation Partnership: Mantle has partnered with TON Foundation, providing TON’s Community Bot access to Mantle’s ecosystem.
- Mastercard and MoonPay Partnership: Mastercard has partnered with MoonPay to explore providing Web3 services.
- Google Cloud’s BigQuery Integration with Solana: Google Cloud’s BigQuery has integrated Solana data, enhancing data analytics capabilities for the Solana blockchain.
Regulatory Developments
- UK Crypto Regulation: A UK bill to seize illicit crypto has become law, and final proposals for crypto regulations have been published.
- Kraken’s Legal Mandate: Kraken is legally mandated to share user information with the IRS, and has suspended trading for multiple assets in Canada.
- Taiwan’s Crypto Regulation: Taiwan has proposed its first bill regulating crypto assets and stablecoin.
Financial Data
- FTX Wallet Transactions: FTX wallet has moved a total of $127.5M to centralized exchanges since October 26th.
- JPM Coin Transactions: JPM Coin, JPMorgan’s permissioned blockchain-based intra-bank payment system, has processed $1B in daily transactions.
- Binance Market Share: Binance market share has declined from 74% to 50% since December 2022.
DAO Proposals
- Sushi DAO’s Governance Overhaul: Sushi DAO has proposed a governance overhaul, reverting to previous model with 100% of fees going to $XSUSHI stakers.
- Aave DAO’s Stablecoin Strategy: Aave DAO is discussing strategies to maintain their stablecoin $GHO’s peg and increase usage of it.
- Goldfinch DAO’s Growth Incentive: Goldfinch DAO is proposing incentivizing growth by reducing interest fees for new pools from 10% to 0%.
Actionable Insights
- Monitor dYdX Chain and Starknet Foundation: The launch of dYdX Chain and the distribution of $STRK tokens by Starknet Foundation could have implications for validators, stakers, and early community members. Stakeholders should keep an eye on these developments.
- Investigate the Potential of Polygon’s $POL Token: With the upgrade of Polygon’s $POL token and its integration on various dApps, there could be potential opportunities for developers and users.
- Assess the Impact of Regulatory Developments: The new crypto regulations in the UK and Taiwan, as well as Kraken’s legal mandate to share user information with the IRS, could impact crypto businesses and users. Stakeholders should assess the potential implications of these regulatory changes.
- Consider the Financial Data: The transaction data from FTX wallet and JPM Coin, as well as the decline in Binance’s market share, could provide insights into market trends and user behavior. Investors and market analysts should consider these data points in their analysis.
- Understand DAO Proposals: The governance proposals by Sushi DAO, Aave DAO, and Goldfinch DAO could impact the respective communities and token holders. Stakeholders should understand these proposals and their potential implications.
