Welcome to the 149th issue of The Defiprime Post, a quick weekly primer covering the biggest developments around Ethereum and DeFi. This week’s issue covers events between June 11th and June 25th, 2023.
🔥 The DeFi Bulletin
- Sturdy Finance was exploited for $800k in funds.
- Two House Republicans have introduced a bill to have SEC Gary Gensler removed and have the SEC restructured as a whole.
- The SEC recently released documents relating to the Hinman speech during the Ripple Labs filing.
- BlackRock has touted tokenization’s ‘monumental’ impact, even if it’s slow-acting.
- JPMorgan stated that Ethereum could be put in the ‘other category’ by Congress.
- Ethereum developers have considered raising the max validator limit from 32 to 2,048 ETH.
- The BNB chain blog announced that the opBNB chain launched.
- Binance Labs has invested in five incubation projects.
- Uniswap recently announced Uniswap V4 and emphasized their plan to build V4 publicly.
- Optimism has announced RetroPGF round 3.
- Frax Finance is to launch an L2 named Fraxchain.
- Frax’s founder is supporting a proposal for a buyback of FXS tokens.
- Maverick Protocol, an infrastructure startup, secured $9M in funding.
- Concordia, a DeFi protocol, raised $4M in funding, with the round co-led by Tribe and Kraken Ventures.
💵 State of the Stablecoins
- Stablecoins and DeFi will likely be the next targets in the U.S. crypto crackdown.
- Hong Kong has vowed to regulate stablecoins in a move aiming to become a central virtual asset hub.
- Tether ($USDT) is to launch on Kava.
- Vertex Protocol, a DEX, has been backed by Wintermute in a strategic investment round.
💱 DEX Report
- Osmosis, a DEX on the Cosmos chain, has cut token inflation by 50% and is planning fee sharing.
- UniDex is to release the first true leverage aggregator.
💎 NFT News
- Zora, an NFT creation platform, has launched a creator-focused L2.
Thanks for reading, and be sure to catch the 150th issue of The Defiprime Post out this time next week! 👋♦️👋