Research Summary
The report covers a range of updates in the crypto and blockchain space. Key topics include DeBank’s airdrop of DeBank XP, Tether’s decision to end support for USDT and EURT on certain blockchains, and the launch of OP Labs’ Fjord upgrade. The report also discusses the Worldcoin Foundation’s extension of the WLD token reservation period, the resignation of Compound’s CEO and founding team, and a disagreement between Aave DAO and MakerDAO. Other updates include io.net’s removal of Apple M chips from its supported devices list, the launch of Pyth Network’s Express Relay, and the near completion of UniSat’s L1 Swap development.
Key Takeaways
DeBank’s Airdrop and Tether’s Support Withdrawal
- DeBank’s XP Airdrop: DeBank has announced an airdrop of DeBank XP, with the snapshot taken on July 4th. The initial XP for each address is determined by its on-chain assets, credit, and Web3 social ranking on DeBank.
- Tether Ends Support: Tether will cease support for USDT and EURT on the Omni, Kusama, SLP, EOS, and Algorand blockchains as of September 1, 2025. Users are encouraged to redeem or transfer these tokens to supported blockchains as soon as possible.
OP Labs’ Upgrade and Worldcoin’s Token Reservation Extension
- OP Labs’ Fjord Upgrade: OP Labs has launched the Fjord upgrade on its mainnet, introducing new features and cost reductions, including a 20x reduction in smart wallet key verification costs.
- Worldcoin’s Token Reservation Extension: The Worldcoin Foundation has extended the WLD token reservation period by one year to ensure broader participation in the Worldcoin project.
Compound’s Resignation and Aave DAO-MakerDAO Disagreement
- Compound’s Resignation: Compound’s founder and CEO, along with two other executives, have resigned to establish a new DeFi protocol called Legend.
- Aave DAO-MakerDAO Disagreement: Aave DAO and MakerDAO have encountered a disagreement over a profit-sharing agreement, with MakerDAO’s lending protocol Spark being accused of violating its agreement with Aave DAO.
io.net’s Device Support and Pyth Network’s Product Launch
- io.net’s Device Support: io.net has temporarily removed Apple M chips from its supported device list, effective July 15. The decision was made to prioritize GPUs and incentivize high-demand GPU usage for the network’s sustainability.
- Pyth Network’s Product Launch: Pyth Network has launched its latest product, Express Relay, to address the longstanding MEV (Maximal Extractable Value) issues in clearing and improving market efficiency in DeFi trading.
Actionable Insights
- Monitor DeBank’s XP Airdrop: Stakeholders should keep an eye on the impact of DeBank’s XP airdrop on the platform’s user engagement and transaction volume.
- Assess Impact of Tether’s Decision: The decision by Tether to end support for USDT and EURT on certain blockchains could affect the liquidity and market dynamics of these tokens. Stakeholders should assess the potential impact on their holdings or operations.
- Explore OP Labs’ Fjord Upgrade: Developers and blockchain companies should explore the new features and cost reductions introduced by OP Labs’ Fjord upgrade, which could potentially enhance their operations and cost efficiency.
- Consider Worldcoin’s Token Reservation Extension: The extension of the WLD token reservation period by the Worldcoin Foundation could provide more opportunities for participation in the Worldcoin project. Potential participants should consider this development.
- Track Developments in Aave DAO-MakerDAO Dispute: The disagreement between Aave DAO and MakerDAO over a profit-sharing agreement could have implications for the DeFi space. Stakeholders should track developments in this dispute.
