DapDap Weekly Market Alpha #24: Navigating Ethereum L2s

Good morning, DapDap community! 🤜🤛

Another week has flown by, and I'm here to bring you the most essential updates from across the Ethereum ecosystem. My aim? To ensure you have a bird's-eye view of the evolving DeFi landscape, including the latest updates on projects, products, and the occasional turbulence that captivates us degens.

Weekly Stats

The summer is "Base"d
The summer is "Base"d

Top Highlights

  1. ETH ETF to launch on 23rd of July

  2. The German Government just sent all of Germany’s remaining 3846.05 BTC to Flow Traders and 139Po

  3. MakerDAO's $1B tokenized treasury investment plan

  4. SEC drops a three-year investigation into Stacks blockchain and Hiro Systems with no action

  5. SEC drops its investigation into BUSD stablecoin following probe into Paxos

Ecosystem

Arbitrum

  1. Arbitrum accounts for ~46% of assets bridged from Ethereum

  2. Fluid has been deployed on the Arbitrum One mainnet

  3. Karak introduces restaking functionality for Arbitrum

  4. @Kwenta_io x @perenniallabs: now live on Arbitrum

  5. @Degentokenbase Bridge having some issues

Base

  1. Circle announces the launch of EURC, the first euro-backed stablecoin, on the Base

  2. Announcing of the fifteenth wave of 2024 Base Builder Grants

  3. Aerodrome's trading volume on BASE outpacing Uniswap on Ethereum Mainnet.

  4. Radiant Capital is launching on Base

Blast

  1. Blast Foundation has approved BLIP 2, enabling 2X Points for all BLAST holders

  2. @CoinbaseIntExch listed Blast, LayerZero and ZKsync PERPs

  3. ZAP, a token distribution protocol built on Blast, raised $12.1M, reached $100M in valuation

Scroll

  1. Scroll unveiled Scroll Canvas - a platform where any project on Scroll can issue badges, and set fun and engaging parameters for how those badges can be obtained.

  2. Pencil Protocol reached new milestones: $150M+ in TVL and 100K+ in TAU

zkSync

  1. Cronos, ZKcandy, Memento Blockchain, PlayFi joined ZKsync’s Elastic Chain

  2. Nodle also joined ZKsync’s Elastic Chain

  3. Zerion joined ZKsync’s Elastic Chain

Mantle

  1. Mantle launched CH(AI)N REACTION campaign, with a prize pool of 1M $MNT

  2. Few Ethena Gov Proposals Highlights

  3. @0xTindorr: Publishes about DeFi Farming Season on Mantle

Starknet

  1. Starknet announced the launch of $STRK Staking, set to launch at Q4 2024

  2. Starknet Ecosystem Weekly Recap

Polygon

  1. TON Applications Chain plans to utilize zero-knowledge (ZK) technology and Polygon Chain Development Kit (CDK)

  2. Polygon Miden Alpha Testnet

MODE

  1. @modenetwork: Further integrates LayerZero to bring $MODE omnichain

  2. @VelodromeFi: SuperFest live on Mode

  3. $MODE can now be used as liquidity on Uniswap V3

NEAR

  1. @BowenWang18: Hacker loses $15,000 trying to hack NEAR Rainbow Bridge

  2. @ilblackdragon x @AlexSkidanov: NEAR AI Office Hours - Fireworks AI

  3. @RingfenceAI: Joins NEAR AI Incubation Program

  4. @EconsDesign: Partners w. @NEARFoundation

  5. @NEARProtocol: Nightshade 2.0 on Testnet

Fundraising - M&A

  1. Partior, a Blockchain Payment Network backed by JP Morgan, raised $60M

  2. Rome raises $9M to serve Ethereum Layer-2s through Solana

  3. Tread.fi raised 3.5m pre-seed by Ex-Morgan Stanley VP

  4. Aidatify - DEX data AI aggregation system raised $8.30M in a funding round.

  5. DeFi Technologies has announced the acquisition of Stillman Digital, an OTC desk and digital asset liquidity provider, in an all stock acquisition.

  6. @idOS_network: announces $4.5m round led by @fabric_vc

New Product

  1. SKALE introduces Pacifica V3, increasing transaction throughput and block mining speed, adding EIP-1559 support, optimized consensus and enhanced Web3 tool and wallet compatibility

  2. Story Protocol launches Story Network - the World's IP Blockchain.

  3. Coinbase introduces a new Coinbase Wallet web app

  4. Drift Protocol launched Drift Earn, a newbie-friendly savings product

That's it for this week's Intern market alpha! 📓 🤓

Stay stun for the next version 👀

About DapDap

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