Research Summary
The report discusses the recent activities and price movements of three tokens: SUI, DYDX, and LDO. SUI Network faced backlash due to rumors of the team selling locked-up SUI tokens, which were later denied by the Sui Foundation. Decentralized derivatives exchange, dYdX, announced the testnet for its v4 upgrade, which includes new features and a move to their own chain due to scalability issues. Lido, a decentralized liquid staking provider, passed a proposal to implement a tiered rewards program and increased its Total Value Locked (TVL) by staking all of its treasury ETH into stETH.
Actionable Insights
- SUI Network: Monitor the situation regarding the alleged sale of locked-up SUI tokens. The Sui Foundation’s response and the release of an official token supply schedule may impact the token’s future performance.
- dYdX: Keep an eye on the progress of the v4 upgrade and its impact on the DYDX token, especially considering its use for staking to provide security for the new chain.
- Lido: The implementation of a tiered rewards program and the increase in TVL could make Lido a more attractive option for investors interested in decentralized liquid staking.
