Research Summary
The report provides updates on various blockchain projects. It covers the readiness of Arbitrum Orbit for mainnet, the launch of dYdX Chain on mainnet, Xai Blockchain’s token economics, Neo’s EVM-compatible sidechain, PEPE team’s token burn, Binance’s listing of Memecoin, Chainlink’s upcoming staking launch, Linear Finance’s protocol reopening, Parity Technologies’ workforce reduction, and Maestro’s security breach.
Key Takeaways
Arbitrum Orbit and dYdX Chain Mainnet Launches
- Arbitrum Orbit’s Readiness: Arbitrum Orbit, a smart contract platform compatible with the Ethereum Virtual Machine (EVM), is ready for mainnet. It aims to reduce gas costs on complex crypto transactions by over ten times. Future improvements to the Arbitrum Nitro technology stack can be adopted autonomously.
- dYdX Chain’s Launch: dYdX Chain officially launched on the mainnet, with validators creating the genesis block. The post-genesis phase includes Alpha and Beta stages, focusing on bridging, staking, security, and transactions. The transition from Alpha to Beta will be determined by governance votes.
Xai Blockchain’s Token Economics and Neo’s EVM-Compatible Sidechain
- Xai Blockchain’s Token Allocation: Xai, a blockchain for gaming, announced its tokenomics, allocating 50.1% of tokens to the community and Sentry Node operators. Xai will serve as the Gas token for the Xai blockchain, validator rewards, and tokens for the gaming ecosystem.
- Neo’s EVM-Compatible Sidechain: Neo is developing a sidechain resistant to Miner Extractable Value (MEV) attacks and compatible with the EVM. The sidechain will inherit Neo N3’s economic model and dBFT consensus mechanism, with additional advantages in combating MEV attacks.
PEPE Token Burn and Binance’s Memecoin Listing
- PEPE Token Burn: The PEPE team burned 6.9 trillion PEPE tokens, worth approximately $6.76 million. After the burn, the PEPE team’s address now holds 3.79 trillion PEPE, valued at approximately $3.72 million.
- Binance’s Memecoin Listing: Binance announced the listing of Memecoin (MEME), the ecosystem token of Memeland, a Web3 creative studio owned by 9GAG. Users can participate in MEME mining by staking BNB, TUSD, and FDUSD in the MEME mining pool.
Actionable Insights
- Monitor Arbitrum Orbit’s Progress: Keep an eye on the developments and improvements in Arbitrum Orbit, especially its potential to reduce gas costs on complex crypto transactions.
- Investigate the Potential of dYdX Chain: Explore the potential of dYdX Chain, especially its post-genesis phase and the transition from Alpha to Beta stages.
- Assess Xai Blockchain’s Token Allocation: Evaluate the token allocation strategy of Xai Blockchain, particularly the significant allocation to the community and Sentry Node operators.
- Examine Neo’s EVM-Compatible Sidechain: Scrutinize Neo’s development of an EVM-compatible sidechain, especially its resistance to MEV attacks.
- Consider the Impact of PEPE Token Burn: Consider the impact of the PEPE token burn on the token’s value and the team’s remaining holdings.
- Explore Binance’s Memecoin Listing: Investigate the potential of Memecoin (MEME) following its listing on Binance and the opportunity for users to participate in MEME mining.
