Daily Alpha and Summary. July 16, 2024

Defi

Dex and Bridge aggregation protocol behind Jumper, LIFI was exploited for ~$10M, targeting users who set infinite approvals for LIFI

Entangle has adjusted its tokenomics by burning 25% of the team allocation, reducing the circulating supply by 3%, and locking 2.5% of the supply earmarked for liquidity for one year.

Aethir Cloud announced they made $36M in revenue last year and will use the revenue for token buyback. Their mainnet launch is planned for Q4

Polygon Labs released the latest version of its zk proving system, Plonky3, a more flexible version than the previous model and is now available as open-source software under the MIT and Apache licenses.

BTC Defi protocol, Hermetica has deployed its BTC-backed synthetic dollar $USDh on Bitcoin via the Runes with APY at 25%

Intent-based infra that empowers private autonomous txns, Ava Protocol has launched its mainnet on Ethereum as an EigenLayer AVS for smart contract automation

Relational blockchain, Chromia goes live on mainnet

KYD Labs and NYC venue Le Poisson Rouge have signed a four-year partnership to power all shows and ticketing on the Aptos.

Worldcoin has extended 80% of investor and team lockup from 3 to 5 years.

Polynomial announce Derivatives superchain Polynomial Chain

Uniswap improves its UX by launching a Chrome extension. The extension includes an automatic network switching function, and in-app bridge features will also be introduced.

State of the Market

FTX and CFTC agree to $12.7B settlement, pending approval from US Bankruptcy Court for the District of Delaware.

Bullish

Kraken sent out an email to Mt Gox Creditors that it’ll distribute $BTC and $BCH to them within 7-14 Days