Daily Alpha and Summary. September 3, 2024

Defi

Arbitrum Stylus goes live on mainnet, adding support for WebAssembly languages like Rust, C and C++

Penpie was hacked for $27.8M due to a security vulnerability, primarily involving LRT assets. The hacker swapped most of the assets for 11.1k ETH ($27M) and sent 1k ETH ($2.42M) to TornadoCash. The hacker still holds 10.1k ETH ($23.7M) and $809K worth of Pendle yield-tokens

Matter labs cut off 16% of zksync team workforce

Matic officially upgrades Matic to POL.

Crestal Carbon goes live on Berachain testnet. Crestal’s an intent based infra marketplace and has integrated with Avall

FTM tech stack, Sonic joins Chainlink Scale program, integrating Chainlink Data Feeds and Chainlink CCIP into their network.

Ripple to add smart contracts to network in 2025. They’ll enhance their XRP Ledger by integrating Ethereum-compatible smart contracts via a new sidechain, Axelar network will be used for cross-chain token transfers, with Wrapped XRP (eXRP) acting as the primary token.

Ton accelerator launches TON:Acc, an incubation program for Ton startups and will be powered by Ton ventures, who’ll be investing $2.5M

Web3 security real-time risk detection network, Hypernative raises $16M Series A round led by Quantstamp.

Union modular zk interoperability layer partners with Native, Zero Trust Bitcoin protocol to offer trustless bridging between BTC L2s.

State of the Market

According to data from Farside Investors, 11 U.S spot ETFs saw $287.8M worth of outflows on Tuesday.

Weak U.S manufacturing data affected the markets yesterday.

Mark Karpeles, Former Mt Gox CEO to launch new crypto exchange, EllipX in Europe this month.