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.

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