Research Summary
The report provides a comprehensive overview of the latest developments in the DeFi sector, focusing on new projects, market trends, and investment theses. It highlights the performance of Holdstation, a leading AA wallet on the zkSync, and its features such as Dynamic Price Feed and Batch Transaction. The report also covers updates and upgrades in DeFi, Alpha by Threadors & Good Reads, OnChain & Macro & News, and Exploits & Bugs.
Key Takeaways
Holdstation’s Performance and Features
- Holdstation’s Dominance: Holdstation, a leading AA wallet on the zkSync, has achieved significant milestones, including a total trade volume of $450M, total fees collected of $310k+, and 120,000 downloads from IOS and Android.
- Dynamic Price Feed: Holdstation’s Dynamic Price Feed provides accurate pricing for all assets, safeguarding against scam-wicks and ensuring fair prices for all users.
- Batch Transaction and Paymaster: These features allow aggregation of several transactions and their processing in one batch, and sponsoring fees for users, enabling gas payments with stablecoins.
Updates & Upgrades in DeFi
- DyDx’s Loss: DyDx lost $9m from its v3 insurance fund due to the situation with YFI.
- Staking On Ether.Fi: Staking on Ether.Fi is now available to everyone, expanding the platform’s user base.
- Phantom’s Cross-Chain Exchange: Phantom introduced a cross-chain exchange, enhancing its interoperability.
OnChain & Macro & News
- Chainlink’s CCIP: Chainlink’s CCIP will create the world’s largest liquidity layer, potentially revolutionizing the DeFi sector.
- Mastercard’s View on CBDC: Mastercard expressed skepticism about CBDC implementation due to customer satisfaction with existing systems.
- Santander’s Crypto Trading: Santander Private Bank introduced Bitcoin and Ethereum trading for clients in Switzerland, indicating growing institutional interest in cryptocurrencies.
Exploits & Bugs
- Kronos Research’s Loss: Kronos Research lost potentially $20 million due to compromised API keys.
- Spookyswap’s Vulnerability: Spookyswap faced a frontend vulnerability on its domain, highlighting the security risks in the DeFi sector.
- Scam Involving $MUBI: A scammer created a fake website, drained people’s $MUBI, and market sold them for about $100,000, demonstrating the need for vigilance in the crypto market.
Actionable Insights
- Investigate Holdstation’s Features: Consider the benefits of Holdstation’s features such as Dynamic Price Feed and Batch Transaction, which offer accurate asset pricing and efficient transaction processing.
- Monitor DeFi Updates: Keep an eye on the latest updates and upgrades in the DeFi sector, such as DyDx’s loss and Phantom’s cross-chain exchange, to stay informed about market trends.
- Assess OnChain & Macro News: Evaluate the implications of major news such as Chainlink’s CCIP and Mastercard’s view on CBDC for the broader crypto and DeFi landscape.
- Consider Security Measures: Given the recent exploits and bugs in the DeFi sector, consider implementing robust security measures to protect against potential losses.
