Daily Alpha and Summary. 20, May, 2024

Defi

True

Yuga Labs announces that they will no longer be working on CryptoPunks. After community blacklash from its new Super Punk World project.

Gnosis token pumps following $30M token buyback proposal from Thanefield Capital

Uniswap Labs and Across Protocol introduced ERC-7683, a new Ethereum token standard. It aims to create a universal filler network for cross-chain intents, reducing costs and fragmentation while benefiting both apps and users.

Following Justin Drake, Dankrad Feist EF researcher reveals he’s an EigenLayer advisor

Manta Network has launched Manta CeDeFi, blending CeFi and DeFi for higher yields and security. They’ll work with Ceffu, formerly Binance Custody. Users will earn parallel rewards from stable CeFi arbitrage and on-chain DeFi activities.

Moonbeam Network, Evm parachain on Polkadot, launched their Moonrise initiative. The initiative includes a brand redesign and a 2024 product roadmap with core protocol enhancements, increased throughput, Ethereum's Dencun update integration, governance optimization, revitalized Moonriver canary network with Axelar bridging, and a zkAuth program for Web2 authentication.

GoGala was exploited for SALE of 600m GALA tokens ($21M) and burn of 4.4B tokens. They’ve reached out to Feds to track hacker

True!

Drama

SEI FDN has proposed an upgrade to the Sei chain, targeting a transition to version 2. This upgrade introduces a high-performance, parallelized EVM 

Wow

JLP Gud

Hyperliquid L1 Evming

Helpful

State of the Market

Grayscale CEO Michael Sonnenshein resigns, replaced by Goldman Sachs' Peter Mintzberg.

ETF seems imminent, after SEC told exchanges to update their 19b-4 filings on an accelerated basis. Also, Bloomberg ETF analysts increase approval chances from 25% to 75%.