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- Curve Added X Layer to the Exchange
- Gas Fees on Base Drops Again
- Ethena Bursts to Blast
- Pendle Exceeded Uniswap by TVL
- Stargate Launched V2 Pools
- Trader Joe Will Share 755k $ARB
- Across Added Mode
- Beefy Joined Linea Surge
zkSync and Polyhedra Game of Thrones Tokens
The first battle over a token name emerged out of nowhere. Last week, zkSync announced that their token would have the ticker $ZK, which Polyhedra already own.
Matter Labs (zkSync) has filed trademark applications in 9 countries, claiming that ZK is the exclusive firm’s intellectual property. Co-founders of Polygon, Polyhedra, StarkWare, and others have sent a public letter criticizing this decision. Nonetheless, Polyhedra has announced they are changing the token's name to $ZKJ.
Both networks are competitors in the field of zero-knowledge technology, which may explain zkSync's aggressive attitude towards Polyhedra. However, previous projects have never clashed over tickers. How can it affect crypto projects? Most likely, more protocols will take steps toward better legal security. All court cases consume significant time and financial resources for the companies involved. Ultimately, unsecured projects may become entangled in legal proceedings and lose substantial sums of money just because their ticker was not registered.
This situation harmed Polyhedra's $ZK investors, with the token declining by 20% following the news. It demonstrated that an aggressor could act with impunity, potentially paving the way for similar actions by other projects. While we aspire to a friendly crypto community, ultimately, business is business.
Karak Continues Rising
Karak is the most vivid EigenLayer’s competitor which has recently reached $850 million TVL. Unlike EigenLayer, Karak accepts stablecoins, wBTC, Pendle Principle Tokens (PT), and even LRT like ezETH or weETH. Read more about the protocol here.
Recently, Karak added support of USDe and during this week people got an opportunity to stake sUSDe and get Karak points upon their 35% APR.
Pendle has incorporated Karak-staked derivatives into its platform. Users can now earn 64% on their Karak staked eETH and 40% on USDe. However, there is the challenge of Ethereum gas fees, which surged during the past week, reaching 11-16 gwei. Hence, it's advisable to transact values above $1500-2000 to lower these costs.
Bitcoin to the Moon, Hah?
The Stock-to-Flow Bitcoin model is one of the most popular Bitcoin price prediction models. According to it, the real Bitcoin rally will start…now. If we strictly follow the predicted price, currently Bitcoin should already cost around $140k. Short question: wen?
The model relies on numerous assumptions, and as observed, the actual price often diverges from the projected graph. Nonetheless, the overall trend remains remarkably consistent. With the increasing adoption of BTC on “L2” chains, the favorable stance of regulatory authorities towards BTC, and the integration of cryptocurrencies into daily life globally, BTC could experience considerable growth this summer.
