Research Summary
This report covers a wide range of topics in the crypto space, including updates on various DeFi platforms, blockchain projects, and crypto exchanges. It highlights key events such as Curve Founder Michael Egorov settling his debt on Aave, the Genesis distribution of Celestia’s $TIA tokens, and the sale of Optimism’s $OP tokens. The report also discusses the rise of social finance projects, Coinbase’s open-sourcing of Base’s security monitoring system, and the launch of new features and services by OpenSea, Magic Eden, PancakeSwap, and others.
Key Takeaways
DeFi Platforms and Blockchain Projects
- Curve Founder’s Debt Settlement: Michael Egorov has settled his entire debt position on Aave, but still has a $42.7M debt across other DeFi platforms.
- Celestia’s Genesis Distribution: Celestia, a modular blockchain, has initiated their Genesis distribution of 60M $TIA tokens, representing 6% of the total supply.
- Optimism’s Token Sale: Optimism announced the sale of 116M $OP tokens worth $163M last week. The tokens are subject to a two-year lockup but can be delegated for participation in governance.
Social Finance Projects
- Rise of Social Finance: Social finance continues to make waves, with projects similar to friend.tech launching on other networks such as Alpha on Bitcoin, post.tech live on Arbitrum, Fantech live on Mantle, and Friendzy on Solana.
- Friend.tech’s ATH in TVL: Friend.tech has made an ATH in TVL this past week, generating $30M in fees, making it the third largest crypto app by revenue over the past 60 days.
Crypto Exchanges and Services
- Coinbase’s Open-Source Initiative: Coinbase has open-sourced Base’s security monitoring system Pessimism, allowing other chains built on the OP stack to adopt it.
- OpenSea’s Creator Studio: OpenSea has launched Creator Studio, a no-code tool for creators to seamlessly launch NFT collections.
- PancakeSwap’s Integration with Transak: PancakeSwap has integrated Transak, an on-ramp crypto platform.
Actionable Insights
- Investigate the Potential of Social Finance: The rise of social finance projects and their success, as seen with friend.tech, indicates a growing trend that could be worth exploring.
- Consider the Impact of Token Sales: The sale of Optimism’s $OP tokens and their two-year lockup period could have implications for the token’s value and the platform’s governance.
- Explore Opportunities in NFTs: The launch of OpenSea’s Creator Studio and Magic Eden’s Open Editions suggests a growing demand for tools that simplify the process of launching NFT collections.
