Dr.DODO brings you our newly launched weekly brief - DODO Megascope, which covers the following sectors:
- Crypto Headline
- Governance Updates
- Sector Delivery
- Data check
- CT Insights
👀 |Crypto Headline|
- Alameda Co-CEO Trabucco Steps Down From Crypto Trading Firm.
- The Merge is estimated to be completed between Sep. 10-20. Ethereum Foundation released new Merge related details.
- SudoRare, NFT exchange created as a fork of sudoswap and LooksRare, pulls the rug. Project team drains 519 ETH only 6 hours after launch.
🗣️ |Governance Updates|
- OHM proposed OIP-112: Align TRIBE Voter Interests with Fuse Exploit Victims.
- MakerDAO propose to ditch real-world assets as collateral and DAI's hard peg to $1.
- Rarible proposes to build a 0% fee marketplace for ApeDAO.
- 1inch received a proposal to launch on Arbitrum Nova; however, it met with a tepid response.
- Lending Protocol Euler Community Proposal Proposes to Add stETA as Collateral.
🍀 |Sector Delivery|
DeFi
- Lido Finance has supported staking Ethereum on Loopring. Users can stake ETH on Loopring Layer 2 via DApp and Loopring wallet app to receive wstETH.
- Kain Warwick, founder of decentralized finance (DeFi) protocol Synthetix, has submitted a proposal that would shut off high-yield returns for SNX stakers and cap the total supply of Synthetix (SNX) at 300 million.
GameFi&NFT
- The anonymous collector of 101 Azuki NFTs is Zheng Zhigang, the eldest grandson of Chow Tai Fook founder Zheng Yutong.
- Hook Protocol provides options for NFT.
Infra
- Mysten lab released Sui explorer. Sui Explorer aims to keep updated and accurate on-chain data, activity and metrics.
- Tether says it won’t freeze sanctioned Tornado Cash addresses unless instructed by law enforcement.
- The Graph announced that a highly-requested query feature is now live: Nested Queries.
VC
- Metaverse avatar platform Ready Player Me raises $56 million from a16z and others.
- Thirdweb raises $24M at a $160M valuation from Haun Ventures, Shopify and Coinbase for its web3 development kit.
- Web3 social entertainment platform Pixie completes new strategic financing, KuCoin Ventures participates in the investment.
✨ |Data check|
Ethereum ecological milestone, the mainnet merge The Merge event is coming. @DuneAnalytics shared several dashboards related to The Merge. Today, Dr. DODO interprets several key indicators for you.
- First of all, an important indicator is "Target Total Difficulty" TTD (Target Total Difficulty), when the total difficulty (Total Difficulty) reaches TTD, the Ethereum mainnet will merge with the beacon chain proof-of-stake system. This means the end of Ethereum’s proof-of-work, and the full transition to proof-of-stake.
- The distribution of pledgers of ETH 2.0, from the perspective of single pledgers, the liquid pledge protocol Lido Finance accounts for 31%, becoming the largest single pledger; the second largest single pledger is the centralized exchange Coinbase; Kraken, Binance respectively ranked third and fourth. It can be seen that Lido Finance and centralized exchanges occupy half of the pledge pool.
- When the beacon chain just started staking, centralized exchanges and whale users are the main staking. Since August last year, the liquid pledge agreement has begun to grow significantly, until this year, it has become the largest source of pledge for ETH 2.0. The fluid staking track deserves attention.
- Judging from the comparison between the number of pledged ETH and the number of pledgers, the number of pledged people in 2020 was relatively concentrated, and in May last year, the number of pledged people began to disperse. It is speculated here that liquid pledge protocols have been launched one after another, breaking the initial relatively concentrated pledge distribution. In May of this year, the distribution of pledges showed a relatively concentrated trend again, and Lido became the leader of the liquid pledge agreement, concentrating the liquidity of a large number of retail investors.
- Liquid staking protocol ranking, Lido, Rocketpool, Stakewise swept the top three staking amount. Lido is in first place with ~4.15m ETH, ahead of second place Rocketpool ~3.9m ETH.
- The integration of Lido Finance with other DeFi protocols gives stETH liquidity. Derives steCRV, wstETH, B-stETH-STABLE, etc., which are called "second-hand" stETH. This panel counts the distribution of stETH and its derivatives.
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In addition to the above indicators, the panel data on Dune also counts the countdown date of the merger, the number of pledged addresses, the data of each verification node under Lido, and so on.
For more data, please refer to: https://twitter.com/DuneAnalytics/status/1562021273575751680
🎵 |CT Insights|
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As applications continue to grow their user base, create moats, increase revenue, and ultimately achieve product-market fit, the Fat App Thesis is born：