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• Swell Added an Opportunity to Turn Any Token Into rswETH

• Linea’s TVL Surpassed $1.3B

• $22.6M in CRV Was Liquidated

• Holograph Protocol Was Exploited

• Spark Is to Onboard $weETH

• ZkSync Airdropped $ZK

• New Arbitrum Hub Quests Launched on Layer3

• The crvUSD Lending Pool is Now Active on Gearbox

• Cyber Distributed $CYBER to Season 2 Participants

Symbiotic Finance: a New Challenge for Eigenlayer

We all knew about EigenLayer, the first restaking protocol that brought a new wave of hype to DeFi and became the second-largest protocol by TVL. But huge cash always attracts new players. Launching less than a week ago, Symbiotic has already reached its staking capacity. What is so unique in this project and why are investors so bullish?

Symbiotic stands out with its flexible, modular, and permissionless design, offering enhanced control and flexibility. It supports multiple assets, allowing direct deposits of any ERC-20 token, including Lido’s stETH and cbETH, which makes it more adaptable than Eigenlayer, which mainly supports ETH and its derivatives.

Networks that use Symbiotic can choose their collateral assets, node operators, rewards, and slashing mechanisms, providing tailored security settings to meet specific users’s needs.

Symbiotic’s core contracts are non-upgradeable, like Uniswap, which minimizes governance risks and failure points. The platform can continue to function independently of the team’s presence. Any decentralized application can integrate without approval, growing a more open and decentralized ecosystem.

DePINs Markets

Messari recently reported that the DePIN sector's market potential is about $2.2 trillion, with projections to reach $3.5 trillion by 2028. The fully diluted value of decentralized physical infrastructure projects is about $5 billion. DePIN projects leverage blockchain technology, token incentives, and the Internet to tackle significant global challenges.

In DePIN, the blockchain layer is essential for token settlement, service exchange, reward distribution, and integrating DePIN data and networks. These blockchain layers are classified into three types:

1. DePIN-specific blockchains;

2. general-purpose blockchains;

3. App-chains.

DePIN-specific blockchains, such as IoTeX, are tailored to meet the specific needs of DePIN networks, particularly in the Internet of Things. To learn more about the project and find out how to receive their airdrop, check out the guide in our Hub on Telegram.

General-purpose blockchains like Ethereum, Solana, and Polygon offer the flexibility and security needed for managing tokens, rewards, and governance. App chains, found in ecosystems like Polkadot and Cosmos, allow for the creation of specialized blockchains or parachains, enhancing the efficiency and integration of the DePIN ecosystem.

Stablecoins Hype

Today, stablecoins account for 55% of all blockchain activity and handle over $3 trillion in monthly volume, compared to Visa's $1.2 trillion. They have proven their stability during bear markets in 2022 and 2023, providing global access to US dollars to anyone with an internet connection.

Traditional fiat currency transfers, on the other hand, can take several days to weeks. Such companies like Western Union charge rather high fees, sometimes up to 30% of the transferred amount, which many consider exploitative.

Disclaimer: Notum does not provide any investment, tax, legal, or accounting advice. This article is written for informational purposes only. Cryptocurrency is subject to market risk. Please do your own research and trade with caution.