Dr.DODO brings you our newly launched weekly brief - DODO Megascope, which covers the following sectors:
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Crypto Headline
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Governance Updates
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Sector Delivery
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Data check
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CT Insights
👀 |Crypto Headline|
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The Ethereum Core Developers Conference will be held on October 27th and will discuss plans for the Shanghai upgrade.
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Aptos ecological stablecoin protocol Thala Labs will launch the over-collateralized stablecoin Move Dollar.
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Devcon will be held in Bogota, Colombia, from October 11 to 14, 2022.
🗣️ |Governance Updates|
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Ribbon Lend Vote to open liquidity mining proposal.
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A new proposal by the Sushi DAO community proposes to reform the legal structure to reduce regulatory risk by reorganizing legal entities.
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Curve DAO proposal enables easier CRV reward passes with overwhelming support. The move means that projects wishing to offer CRV rewards to users will no longer have to make their demands to Curve’s governance community.
🍀 |Sector Delivery|
DeFi
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Mango Market's DAO forum will approve a $47 million settlement with the hackers.
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Founder of Liquality: Multi-Chain Future Inevitably, liquidity will be more valuable.
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Umee launches Institutional Lending DAO UDX to push the first DeFi native yield curve. UDX acts as an institutional layer that enables and accelerates cryptocurrency adoption across continents in the lending ecosystem.
GameFi&NFT
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Take Moonbirds as an example to explore what kind of NFTs may be considered securities.
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Oscar winner Anthony Hopkins launches "The Eternal" NFT series.
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The Princess of Monaco launches a series of NFTs aimed at helping hungry children in South Africa.
Infra
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Coinbase said it supports Ethereum EIP-4844, which can significantly reduce L2 fees.
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LayerZero Labs completes the integration with Aptos, enabling full-chain transactions on the Aptos mainnet.
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Alchemix has completed the V2 version migration, and the V1 contract is confirmed to be deprecated.
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Ethereum infrastructure development company ConsenSys has partnered with Bankless DAO to launch DAOlationship.
VC
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NFT pricing agreement Waterfall completed a $4 million seed round led by Electric Capital and Pantera Capital.
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The Web3 search engine neeva.xyz raised $40 million in financing.
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Fintech unicorn Stash completed a $52.6 million convertible bond financing.
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The consumer finance application Telda completed a seed round of financing of US$20 million, with participation from Sequoia Capital and Block.
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The NFT sports platform FANtium has completed an angel round of financing of 2 million euros, and The Sandbox Lianchuang has participated in the investment.
✨ |Data check|
On the 14th, stablecoin issuer Tether announced on Twitter that it had reduced its commercial paper holdings to zero in order to ensure a safe and liquid reserve of Tether dollars (USDT).
Combined with the recent stablecoin market dynamics, Dr. DODO will chat about the #stablecoin market pattern in #Datacheck today. Threads:
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The stablecoin ecosystem can currently be divided into: 1. Decentralized stablecoins based on cryptocurrency over-collateralization 2. Centralized stable currency based on centralized collateral, 3. Algorithmic Stablecoins
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Market Cap Ranking From USDT to maintain the stablecoin lead with a market cap of $68B, followed by USDC with a market cap of $45B.
- Transaction volume ranking In addition to market capitalization, an important metric for measuring stablecoins is transaction volume. Taking the stablecoin trading volume in the past 30 days as an example, USDC is far ahead with a share of 54.5%, followed by DAI with a share of 28.2%, USDT and BUSD ranking third and fourth respectively.
- Although USDT's trading volume is not as large as USDC's, USDT still leads in terms of the number of users. It can be guessed that the transaction volume of USDC is mainly brought by the DeFi products on the chain, which is because the DeFi products themselves have the characteristics of large single transaction amount and small number of transactions.
- Around half of the stablecoin supply is on #Ethereum, with USDC's market cap having steadily declined in percentage since its peak in July, down more than 5% so far. Meanwhile, BUSD’s market share is negatively correlated with USDC.
- Messari’s survey shows that USDC is significantly more concentrated on #Rollups than on the underlying network. USDC dominates again, but what is even more pleasing for @circlepay users is that it has a market share above 50% in both Arbitrum and Optimism.
- Among the centralized stablecoins, the trading volume of TUSD is on the rise. Currently, the platforms with the largest trading volume of TUSD are [XT.COM, MEXC, BingX.
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Among the algorithmic stablecoins, with the collapse of UST, the market value of #Frax has shown a significant growth trend, and it is now the algorithmic stablecoin with the largest market value. Unlike other stablecoins that often decouple, the price of Frax is basically stable at $1.
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The stablecoin ecosystem has not yet been finalized, and the market share pattern of various currencies is constantly evolving. Dr. DODO will also continue to pay attention and welcome everyone to discuss together.
🎵 |CT Insights|
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How a spinoff project became the best gaming ecosystem:
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Blockchain Finality Guide: Ethereum, Optimistic Rollup, and ZK Rollup: