This week brought several incremental updates across the DeFi and crypto ecosystem. Below is a roundup of the latest developments. Stay tuned for next week’s update as we continue to monitor these shifts.
Aave Revamp
• Community Proposal: A community-led “Aavenomics” proposal is under debate.
• Restructuring Plans: Plans are underway to restructure revenue distribution and token economics.
• Strategic Focus: The move aims for long-term sustainability of the $AAVE token.
RWAs Boom
• Real-World Assets (RWA): Total value locked (TVL) in real-world assets surpassed $10 billion.
• Notable Growth: @ethena_labs’ USDtb saw a surge of over 1000% this month.
• Integration Trend: Traditional assets continue integrating with decentralized finance protocols.
Sonic Surge
• Layer-1 Growth: Emerging Layer-1 blockchain @SonicLabs experienced a 344% TVL spike in just 30 days.
• Token Performance: The $S token increased by around 57% over the week.
• Ecosystem Expansion: dApps like Pendle, Aave, and GammaSwap are joining the Sonic ecosystem.
WOO’s Real Yield
• Staking Innovation: @_WOO_X introduced “MY WOO” staking, offering real yield without inflation.
• Earnings Report: Users earned over $1 million in USDC in Q1.
• Supply Allocation: About 17% of the total $WOO supply is designated for staking.
Rysk V12 Launch
• New Version: @Ryskfinance launched V12 to support sustainable yield generation via covered calls.
• Payouts and Flexibility: The update provides instant payouts in USDC and customizable yield strategies.
• Options Trading: It also simplifies options trading for users targeting steady returns.
Ethena X Securitize – New EVM Chain
• Collaboration: @Ethena_Labs partnered with Securitize to launch a new EVM-compatible blockchain, Converge.
• Network Security: The network will use $ENA tokens for security.
• Gas Fees: USDtb will serve as gas for transactions.
• Real-World Asset Focus: The platform is designed to facilitate the tokenization of real-world assets.
Nillion Mainnet
• Privacy-Focused Launch: @nillionnetwork rolled out its Alpha Mainnet with a focus on enhanced privacy.
• Blind Modules: Developers can now use “Blind Modules” to boost data privacy.
• Staking Opportunity: Users can stake tokens as genesis validators to contribute to the privacy-first infrastructure.
Celo Scales Up
• Transition Update: @Celo transitioned to an Ethereum Layer-2 solution on March 26 (block 31,057,000).
• Rollup Benefits: The shift to an Ethereum rollup aims to improve scalability and security while preserving historical data integrity.
• Performance Goal: Celo is on track to achieve 1-second block times following the transition.
Thanks for reading this week’s update.
Until next week, happy staking!