Daily Alpha and Summary. September 16, 2024
DeFi
Rise chain announce $3.2M seed round led by Finality cap with other investors like Vitalik, Sandeep etc
Rise chain aims to move from megagas to gigagas
They aim to be the fastest L2 and we need it!
Binance lists two Neiro. The cabal one was listed on futures and the other a CTO invested by Justin Sun was listed on spot. The CTO did 10x in few mins after Binance announcement and the other dumped by some margins
Absurd Tokenomics of Trump’s Liberty Finance Defi protocol: 70% of token supply will go to insiders
Flare Network upgraded its data oracle to launch FTSOv2, a decentralized data oracle that selects data providers every 1.8 seconds using a manipulation-resistant randomness algorithm for submitting fixed incremental updates.
L1 designed for Multichain orchestration, Agoric partnered with modular RWA issuance chain, Noble to build fast USDC, it’ll reduce USDC transfer times from Ethereum and EVM-compatible chains to the Cosmos from up to 20 minutes to under 2 minutes.
Velar, BTC defi protocol, launch beta version of PerpDex on Build on Bitcoin (BOB), PerpDEX is a Bitcoin-native perpetual swaps decentralized exchange, it’ll offer traders up to 20x leverage
Logx announce $4M raise bringing total funding to $10.1M. Investors like Hashed Emergent, Cumberland VC participated
Risczero introduce Boundless, the verifiable compute layer, it’ll be powered by zkps to enable blockchains to verify the correctness of computations without re-execution
Build on Bitcoin announce BOB Stake, a one-click portal for Bitcoin liquid staking
Hedera launched its open-source Asset Tokenization Studio, enabling the on-chain configuration, issuance, and management of tokenized bonds and equities, unlike the off-chain management required by the ERC-1400 standard for security tokens.
Powered by Wormhole and LIFI, native cross-chain swaps & transfers from Mayan Finance now integrated into Phantom
Wormhole, a recipient of Worldcoin Community Grants Wave1, has successfully completed its efforts to bring World ID to Solana
Binance invests in RWA protocol— OpenEden, their tokenized U.S. T-Bill Fund is the largest outside the U.S. and the first to receive an "A" rating from Moody’s.
Soundbound will unveil its Web3 live streaming platform at TwitchCon San Diego, starting Sept. 20
Treasure DAO proposes launching on zksync zk stack instead of Arbitrum Orbit.
Permissionless labs close $10M round led by Multichain. They’ll use it to build Pipe network, a Content Delivery network that’ll use tokens to incentivize people hosting internet infrastructure
State of the market
MicroStrategy plans to issue $700M in convertible senior notes, with $500M allocated to redeem an earlier tranche of notes
CZ to be released on Sept 29
$1B printed at tether. 🐂 soon
Fed rate cut anticipation slowed down the markets bullishness
But in long run if Powell rate cuts then bullish as F cos investors can easily borrow
Bitgo unveils new Token management product for crypto foundation. Worldcoin, LayerZero, SUI and ZetaChain are among their first customers
MARA first BTC miner to adopt MicroStrategy’s buying on open market, now another Cathedra Bitcoin will pivot away from Bitcoin mining to providing general data center services and buying Bitcoin on the open market
