Research Summary
This report covers a wide range of topics in the DeFi sector, including asset liquidation by FTX, potential acquisitions of FTX’s assets by DWF Labs and Justin Sun, MetaMask’s announcement of Snaps, Layerzero’s integration of Google Cloud Oracle, and the launch of Banana Gun’s token. It also discusses the launch of Degen EXchange by Rollbit, the live status of opBNB, and the introduction of new features by Uniswap and Hyperliquid. The report also mentions governance proposals, upcoming launches, and recent news in the crypto world.
Key Takeaways
FTX’s Asset Liquidation and Potential Acquisitions
- FTX’s Asset Liquidation: FTX has received court approval to begin its asset liquidation process, with assets totaling $3.3B. The largest holding is $SOL, valued at $1B, but most of these tokens remain locked until 2028.
- Potential Acquisitions: DWF Labs and Justin Sun are considering acquiring FTX’s assets through OTC deals to reduce the selling impact.
- Immediate Sell Pressure: 14M-18M $SOL tokens, totaling approximately $300M, might be used as immediate sell pressure.
MetaMask’s Snaps and Layerzero’s Integration
- MetaMask’s Snaps: MetaMask has announced Snaps, which allows users to install features and functionalities from independent developers into their MetaMask wallet.
- Layerzero’s Integration: Layerzero has announced the integration of Google Cloud Oracle, a verifier to validate messages on LayerZero starting September 19th.
- Independent Developers: There are currently 34 listed Snaps from Starknet, Solana, Cosmos, and other parties.
Upcoming Launches and Governance Proposals
- Upcoming Launches: Yearn Finance is teasing the imminent launch of $yETH, and Mars Protocol V2’s alpha is expected to launch in the coming weeks.
- Governance Proposals: Several governance proposals are being discussed, including ERC-5725, an NFT standard, on the Ethereum Improvement Proposal forum, and a proposal by Steakhouse to invest $100M to develop and experiment with tokenized T-Bill products.
- Voting on Incentive Programs: Arbitrum DAO is voting on the short term incentive program of 75M $ARB for Arbitrum protocols.
Actionable Insights
- Monitor FTX’s Asset Liquidation: Keep an eye on the developments regarding FTX’s asset liquidation and potential acquisitions by DWF Labs and Justin Sun.
- Explore MetaMask’s Snaps: Consider exploring the features and functionalities offered by MetaMask’s Snaps and Layerzero’s integration of Google Cloud Oracle.
- Stay Updated on Upcoming Launches: Stay updated on the upcoming launches by Yearn Finance and Mars Protocol V2, and the governance proposals being discussed.
