Research Summary

The report covers a range of updates from various cryptocurrency projects. Key highlights include the launch of L2 Blast, which has already attracted over $460 million in assets, and the announcement of Bytom Chain’s suspension of operations. Other notable updates include the ETH Global Istanbul Hackathon finalists, Blur’s launch of Season 3 with airdrops for NFT traders and BLUR holders, and TreasureDAO’s plans to build a gaming chain.

Key Takeaways

ETH Global Istanbul Hackathon Finalists

  • Top 10 Projects Announced: ETHGlobal has revealed the 10 projects that have advanced to the final round of the Istanbul Hackathon. These projects include Clade Club, S.C.I, BridgeBuddy, Buddy-Guard, Sarma, AidDistribute, TapTrust, Footy Stars,, and Lens & Frens.

Blur’s Season 3 Launch and BLUR Staking

  • Season 3 Launch: Blur has announced the commencement of Season 3, offering airdrops for NFT traders and BLUR holders. In Season 2, Blur achieved a trading volume of $61 billion with a total of 260,165 unique users, capturing a 65% average market share.
  • BLUR Staking: Since the introduction of staking on Blur, a total of $204 million worth of BLUR has been staked, with $88 million worth of BLUR being unstaked. Currently, there are still 339 million BLUR tokens staked with an average staking price of $0.342 per token, and stakers are enjoying an average return rate of 78%.

L2 Blast’s Launch and Asset Accumulation

  • Launch and Funding: L2 Blast, a Layer 2 network based on Optimistic Rollup, has successfully completed a $20 million funding round. The project has been online for less than five days and has already attracted over $460 million in assets.
  • Asset Accumulation: L2 Blast currently only has a deposit contract and has attracted over $460 million in assets, including 193,730.77 ETH deposited in Lido and 58,925,818 DAI in Maker MSR. Withdrawals are expected to become available after the mainnet launch in February next year.

TreasureDAO’s Gaming Chain Development

  • Gaming Chain Development: TreasureDAO is in the process of building a gaming chain, planning to use MAGIC as the gas token for this chain. The chain may be built on either the Arbitrum chain or the Cosmos chain.

Bytom Chain’s Suspension of Operations

  • Suspension of Operations: Bytom Chain has announced that it will cease all deposits and completely halt its operations. The project will undergo a full transition to a DAO (Decentralized Autonomous Organization) model, transferring control of the project to the community.

Actionable Insights

  • Monitor L2 Blast’s Progress: Given the significant amount of assets L2 Blast has attracted in a short period, it would be beneficial to keep an eye on its development, particularly its mainnet launch in February.
  • Research the Potential of TreasureDAO’s Gaming Chain: With the rise of blockchain gaming, TreasureDAO’s development of a gaming chain could present interesting opportunities. It would be worthwhile to research the potential of this project as it progresses.
  • Understand the Implications of Bytom Chain’s Transition to DAO: Bytom Chain’s decision to transition to a DAO model could have significant implications for its community and the broader crypto ecosystem. Understanding these implications could provide valuable insights into the future of DAOs.

Related Research