DeFi & L1L2 Weekly (23/08/2023)
New Ethereum testnet Holesky scheduled to launch in September. Tether stops support for USDC on three blockchains. Shibarium resumes block production after a brief pause after its mainnet launch.
This week’s market cap index was negative at -16.84%, while volume and volatility indices were positive at +10.48 and +65.70%, respectively.
Launched on 10 August, Friend.Tech (Beta) is an invite-only Web3 social app built on Layer-2 blockchain Base. Users have shares, or ‘Keys’, tied to their X (formerly Twitter) account, which can be bought or sold on the platform.
Shareholders can also access a private chat room owned by the account whose shares they bought. Aside from linking their X account, users are also required to provide their email via Google or Apple during registration.
Friend.Tech has reached over 100,000 users, and on 21 August, its fees climbed to US$1.68 million. This rapid growth can be attributed to a surge in trading volumes as of 18 August, accumulating over 19,000 ETH (worth approximately $34 million as of writing) in tokens bought. Within this period, the community has raised questions about issues relating to data retention, privacy, and regulation.
Research Roundup Newsletter [July 2023] | Real-World Assets: Bridging Real-World Value to DeFi | Crypto Market Sizing Report H1 2023 |
10 Bearish Crypto Trading Indicators to Know | Bitcoin as a Store of Value: A Comparison to Gold and Other Assets | What Is Ethereum’s EIP-4844 Update? How Proto-Danksharding Can Reduce Gas Fees |
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New Ethereum testnet Holesky scheduled to launch in September. Tether stops support for USDC on three blockchains. Shibarium resumes block production after a brief pause after its mainnet launch.