Research Summary
The report discusses Sony’s expansion into the crypto market, its acquisition of the WhaleFin exchange, and its plans to incorporate the rebranded S.BLOX into its other services. It also highlights the growth of Scroll, a zkEVM chain, and the opportunities in Pencils Protocol, a yield farm on Scroll. The report further provides updates on upcoming crypto events and launches.
Key Takeaways
Sony’s Foray into Crypto
- Sony’s Crypto Expansion: Sony, the Japanese conglomerate, has acquired Amber Japan, which includes the WhaleFin crypto exchange. The exchange is being rebranded as S.BLOX Co. and will feature a revamped UI, a new mobile app, and support for more tokens and features.
- Integration with Sony’s Services: Sony plans to incorporate S.BLOX into its other services and brands, indicating its commitment to integrating blockchain-based systems into its vast array of products.
Scroll’s Growth
- Scroll’s TVL Increase: Scroll, a zkEVM chain, has seen its Total Value Locked (TVL) increase to $400M, a significant growth since the start of the year. The growth accelerated after major projects like LayerZero and zkSync completed their airdrops.
- Protocol Upgrade: Scroll announced a protocol upgrade, Curie, which introduces Data Compression and is expected to reduce transaction costs by 2x.
Pencils Protocol Opportunities
- Pencils Protocol’s Growth: Pencils Protocol, a yield farm on Scroll, saw its TVL rise 3x in June, nearing $100M. This presents an opportunity to earn Pencil Protocol points and Scroll Session points.
- Staking Opportunities: The report highlights various assets that can be deposited for points in the Pencils Protocol, including WETH, STONE, and bridged SolvBTC or WBTC.
Actionable Insights
- Monitor Sony’s Crypto Initiatives: Given Sony’s significant steps into the crypto market, it would be beneficial to keep an eye on its progress, particularly with the rebranded S.BLOX exchange and its integration into Sony’s other services.
- Explore Scroll’s Potential: With Scroll’s significant growth and upcoming protocol upgrade, it may be worth exploring its potential and the impact of its developments on the crypto market.
- Consider Pencils Protocol’s Opportunities: Given the growth of Pencils Protocol and the opportunities it presents for earning points, it may be worth considering its potential and exploring the assets that can be deposited for points.
