Research Summary
This report covers a range of developments in the cryptocurrency and blockchain sector. Key topics include Lido’s proposed governance module GOOSE, Spark Protocol’s debt ceiling increase, Citigroup’s debut of “Citi Token Services”, Canto’s migration to Layer 2, partnerships involving Standard Chartered, Northern Trust, and SBI with Zodia, and the introduction of Eclipse’s Ethereum SVM L2. Other notable updates include an Optimism airdrop, a proposal for Spark Lend activation on the Gnosis chain, Metis’s DeFi incentive program, and the unveiling of Injective’s new Ethereum L2.
Key Takeaways
Lido’s GOOSE Module
- Decentralized Goal Setting: Lido’s proposed GOOSE module aims to set short to long-term goals in a decentralized and adaptable manner, replacing traditional managerial systems that do not align with crypto’s decentralization attribute.
- Community Contribution: The module allows anyone from Lido and the wider Ethereum community to contribute and submit goals tied to the DAO’s mission, vision, and purpose. These goals are open to yearly reevaluation.
- Incentivization: The proposal mentions possible compensation for contributors whose proposals align with the reference matrix “Vibes”, attracting better builders and contributors.
Spark Protocol’s Debt Ceiling Increase
- Increased Borrowing Capacity: Spark Protocol, a DAI-centric Maker SubDAO focused on lending and borrowing, has doubled its debt ceiling from $200 million to $400 million, allowing users to borrow an additional $200 million.
Citi Token Services
- Blockchain-based Exchange: Citigroup has launched a pilot for “Citi Token Services”, which uses a private blockchain to facilitate the exchange of customer deposits for digital tokens.
- Smart Contracts in Trade: Citi has also explored the use of smart contracts in trade and shipping with Maersk to automate the transfer of tokenized tokens, reducing transaction speed from days to minutes.
Standard Chartered, Northern Trust, and SBI’s Partnership with Zodia
- Yield on Tokens: The partnership aims to provide institutional clients yield on their tokens via real-world asset opportunities. Zodia will also offer staking services.
Actionable Insights
- Investigate the Potential of Lido’s GOOSE: The proposed module could revolutionize goal setting in decentralized organizations, making it a potential area of interest for investors and blockchain enthusiasts.
- Monitor Spark Protocol’s Growth: The significant increase in Spark Protocol’s debt ceiling indicates potential growth and expansion, which could be of interest to stakeholders in the DeFi space.
- Assess the Impact of Citi Token Services: As a major financial institution, Citigroup’s move into blockchain-based services could have significant implications for the wider financial sector.
- Explore Opportunities in Zodia’s Services: The partnership between major financial institutions and Zodia could present opportunities for institutional clients looking to earn yield on their tokens.
