Research Summary
The report discusses several developments in the blockchain and cryptocurrency sector. Key topics include the launch of Arbitrum Stylus Testnet, SWIFT’s successful testing of tokenised transfers with Chainlink, upcoming token unlocks, the launch of Prisma Finance, SEC’s delay on Bitcoin ETF applications, and trending assets. The report also covers governance proposals related to various blockchain platforms.
Key Takeaways
Arbitrum Stylus Testnet Launch
- Introduction of Arbitrum Stylus: Arbitrum has launched the Arbitrum Stylus Testnet, which allows developers to build on Arbitrum using programming languages other than Solidity, such as Rust, C, C++, and more.
- Impact of Arbitrum Nitro’s technology: The team achieved this due to Arbitrum Nitro’s fraud-proving technology, which can replay the execution of the chain in WASM (WebAssembly) when there is a dispute.
- Increased accessibility: The advent of Arbitrum Stylus will provide tens of millions of programmers who otherwise wouldn’t have accessibility to the blockchain the ability to build the next generation of dApps.
SWIFT and Chainlink Tokenisation
- Successful testing of tokenised transfers: SWIFT has announced the successful testing of tokenised transfers across multiple public and private blockchains, partnering with more than a dozen financial institutions and market infrastructures including Chainlink’s CCIP.
- Project’s aim: The project aims to ensure “secure, global interoperability as new technologies and platforms emerge” and demonstrate how Swift’s infrastructure could support the financial sector in “interconnecting Central Bank Digital Currencies (CBDCs) and other digital assets with new and existing payments systems” like blockchain technology.
- Successful transfer of tokenised assets: The tests saw the successful transfer of tokenised assets between Ethereum’s Sepolia and Avalanche’s Fuji, Ethereum’s Sepolia and the private Quorum blockchain, and between two Ethereum wallets.
September Token Unlocks
- Upcoming token unlocks: September will see a large amount of tokens being unlocked with the total value equalling $225 million.
- Largest unlocks: The largest unlock will be $HBAR valued at $61.27 million which unlocks on the 1st of September. The $APE token closely follows at $60 million worth of tokens to be unlocked on the 17th of September.
Prisma Finance Launch
- Launch announcement: Prisma Finance has announced that they will be launching on the 1st of September.
- Partnerships and acquisitions: Prisma Finance has made a number of notable partnerships in the run-up to their launch including a partnership with Convex and has also recently acquired and locked up $2 million of CRV.
SEC Delays ETFs
- Delay in decision: The SEC has delayed the decision on 6 Bitcoin ETF applications with the next set of deadlines in October. The applications come from Fidelity, VanEck, Valkyrie, Invesco Galaxy, WisdomTree and Blackrock.
Actionable Insights
- Exploring Arbitrum Stylus: Developers interested in blockchain technology should explore the newly launched Arbitrum Stylus Testnet, which allows programming in a host of languages.
- Monitoring token unlocks: Investors should monitor the upcoming token unlocks in September, particularly $HBAR and $APE, for potential market impacts.
- Investigating Prisma Finance: Stakeholders should investigate Prisma Finance, which is launching soon and has made notable partnerships and acquisitions.
- Keeping an eye on SEC decisions: Investors should keep an eye on the SEC’s upcoming decisions on Bitcoin ETF applications in October.
