Research Summary
The report provides an overview of recent developments in the decentralized finance (DeFi) sector, including updates on Ethereum, AltLayer, Jupiter Exchange, Ondo Finance, and others. It also covers governance proposals from various DAOs, and news from the broader crypto and blockchain industry, including Grayscale, BlackRock, and Fidelity’s dominance in the Bitcoin ETF market.
Key Takeaways
DeFi Developments
- Ethereum’s Dencun Upgrade: Ethereum’s core developers have deployed the Dencun upgrade on the Goerli testnet, with mainnet deployment expected in Q1 2024. This upgrade could potentially enhance Ethereum’s scalability and efficiency.
- AltLayer’s $ALT Token Airdrop: Decentralized protocol AltLayer announced an airdrop of its $ALT token to EigenLayer users and $TIA stakers. The token will also be available to farm on the Binance Launchpool from January 19th for six days, potentially increasing its accessibility and distribution.
- Jupiter Exchange’s $JUP Launch: Jupiter Exchange, a leading DEX aggregator on Solana, plans to launch its $JUP token on January 31st, with 40% of its supply to be airdropped to its community over four rounds. This could potentially increase user engagement and liquidity on the platform.
- Ondo Finance’s $ONDO Token Launch: Ondo Finance, an RWA tokenization protocol, launched its $ONDO token with 14.3% of its supply circulating. This could potentially increase the protocol’s market presence and liquidity.
- Frax Finance’s L2 Blockchain Debut: Frax Finance, issuer of the $FRAX stablecoin, is set to debut its L2 blockchain Fraxtal in the first week of February. Frax’s liquid staked $ETH, $frxETH, will serve as the gas token for the chain, potentially enhancing its scalability and efficiency.
DAO Governance Proposals
- Arbitrum DAO’s Incentives Program: Arbitrum DAO has approved an allocation of 45.8M $ARB worth $87M to a Long Term Incentives Pilot Program. This could potentially incentivize long-term participation and commitment within the DAO.
- Uniswap DAO’s Liquidity Incentivization Packages: Uniswap DAO is discussing deploying Uni V3 liquidity incentivization packages to increase its DEX market share and liquidity across various chains. This could potentially enhance Uniswap’s competitiveness and liquidity.
- AirDAO’s Treasury Deployment: AirDAO has successfully voted to deploy 100% of its treasury to Aave and Compound and to use its profits to buyback and burn $AMB. This could potentially increase the value of $AMB and the DAO’s financial sustainability.
Actionable Insights
- Monitor Ethereum’s Dencun Upgrade: Keep an eye on the progress of Ethereum’s Dencun upgrade, as it could potentially impact the performance and value of Ethereum.
- Research AltLayer’s $ALT Token Airdrop: Consider the potential impact of AltLayer’s $ALT token airdrop on the token’s distribution and value.
- Assess Jupiter Exchange’s $JUP Launch: Evaluate the potential impact of Jupiter Exchange’s $JUP token launch on the platform’s user engagement and liquidity.
- Investigate Ondo Finance’s $ONDO Token Launch: Look into the potential implications of Ondo Finance’s $ONDO token launch on the protocol’s market presence and liquidity.
- Examine Frax Finance’s L2 Blockchain Debut: Consider the potential effects of Frax Finance’s L2 blockchain debut on its scalability and efficiency.
