loan

Aave

The latest report submitted by the GHO Liquidity Committee stated that since the cooperation with Maverick, compared to liquidity platforms such as Uniswap, the stablecoin GHO is close to being fully anchored to the US dollar for the first time since August. Maverick Pools has decisive advantages in designing and programming liquidity.

On December 2, @luggisdoteth, a large AAVE holder, deposited 23,700 AAVE to Binance. This address has been continuously purchasing AAVE since November 2020. This is its first deposit to Binance. Currently, the address still holds 78,300 AAVE.

Venus

According to Arkham monitoring, the VBTC whale address (starting with 0x1E7) deposited $14 million in BTCb to Venus Protocol on November 2, bringing its total deposit to more than $28 million.

The address is the fourth largest VBTC holder, with over $750 million in trading volume on the protocol. Just two days ago, this address borrowed $5 million in USDT and immediately deposited it into Binance.

LSD

Last week, 28.78 million ETH were locked in the beacon chain, corresponding to a pledge rate of 23.94%, a month-on-month increase of 0.2%; of which there were 888,400 active verification nodes, a month-on-month increase of 1.02%. This week’s ETH staking return was 3.84%, and ETH’s annualized inflation was -0.61%; Uniswap, Maestro and BananaGun are the top three Defi that burns gas.

The number of ETH pledges increased by 1.02% month-on-month this week

Source: Beaconcha.in, LD Capital

This week’s ETH staking yield is 3.84%

Source: LD Capital

ETH annualized inflation drops to 0.61%

Source: ultrasound, LD Capital

Among the three major LSD protocols, in terms of price performance, LDO rose by 2.3% in a week, RPL rose by 14.5%, and FXS rose by 21.7%; from the perspective of ETH pledge volume, Lido rose by 0.78% in a week, Rocket Pool rose by 0.39%, and Frax rose by 0.78%. 1.19%; FXS benefited from the increase in FRAX CR and the upcoming launch of BAMM and Fraxchain to achieve the largest increase last week; RPL due to its mechanism of mortgaging RPL to pledge ETH allows RPL to anchor the price of ETH to a certain extent. The current RPL pledge rate is 50.89% , the effective pledge rate is 94.14%, and the deposit pool balance is 18,092 ETH; Dragonfly Capita sold 4.5 million US dollars of LDO last week; SSV’s unlicensed mainnet upgrade vote passed, and the TVL reached 71,000 ETH.

Currently SSV TVL reaches 71,000 ETH

Source: SSV Scan, LD Capital

Ethereum L2

TVL

The total amount of Layer 2 TVL is US$15.11 billion, and the overall TVL has increased by 6.91% in the past 7 days.

Source: L 2b eat, LD Captial

ACDC meeting

The 123rd ACDC meeting on 11.30 mainly shared Cancun/Deneb testing updates

1. Rollout of Devnet #12: The Cancun/Deneb upgrade was activated on Devnet #12 on Wednesday, November 30th. No major issues have been discovered with the three CL clients currently running, but the most popular CL client, Prysm, has not yet been added, and the Prysm team expects to have their software ready for testing on the latest Devnet in two to three weeks. The Goerli shadow fork is expected to be launched sometime before the end of this year.

2. Authenticator exit issue on Devnet #11: Developers discovered an authenticator exit issue on Devnet #11, and the Nimbus client team is working to resolve the issue. Devnet #11 will remain operational until the issue is resolved

3. Network specification clarification: Developers discussed clarifying the specification of BlockByRoot and BlobSidecarsByRoot requests to explicitly mention whether CL nodes should respond to these requests in a specific order

Arbitrum

1. On December 3, Arbitrum DAO has approved a one-time standby fund of 21.1 million ARB tokens (approximately $23.54 million) to support 26 projects that missed the first round of funding. The 26 projects that received this grant include Gains Network (4.5 million ARBs), Stargate Finance (2 million ARBs), Synapse (2 million ARBs), PancakeSwap (2 million ARBs), Wormhole (1.8 million ARBs), Magpie (125 10,000 coins), RabbitHole (1 million coins), dForce (1 million coins), Vela (1 million coins), etc.

2. On December 5, the multi-chain lending protocol Radiant Capital released an update for the airdrop plan of 2 million ARBs. The qualification period will end before February 16, 2024. New 6 – 12 month dLP will be eligible for the airdrop only if it is locked or re-locked on Arbitrum after the first snapshot (block 147753665) and before the second snapshot (in the next 30 – 90 days), with a 12-month lock-up Receive more ARB than 6 month lock-in

On-chain activity

Source: Artemis

AI

In the past week, the prices of AI sector tokens have risen with varying degrees in line with the broader market, but only a few projects have outperformed the growth of BTC. The better performing ones include TAO, OCEAN, OLAS, AIOZ, HEART, and AGRS.

Source: Coingecko

Source: Tradingview

AI Conference and Technology Company

1. The New York Artificial Intelligence Summit will be held at the Javits Center from December 6th to December 7th. Some Web3 projects will sponsor and speak at the conference.

Source: AI Business

2. On December 3, The Information reported, citing two people familiar with the matter, that Google has postponed the release of its artificial intelligence model Gemini to January 2024.

3. On November 26, Elon Musk tweeted that a “Grok, analysis” button would be added under X (formerly Twitter) tweets in a few weeks.

TAU

On November 29, TAU announced on Twitter that it had recently obtained a U.S. provisional patent titled Method and system for arbitrary authentication of anonymous Internet users. This patent will enhance the advantages of Tau Net in five aspects:

(1) Enhanced user verification: The system introduced in the patent can verify user information while maintaining anonymity.

(2) Robust governance framework: The patent system supports the governance of Tau Net, ensuring democratic and transparent decision-making and reflecting community consensus.

(3) Preventing robot influence: This patent solves a key problem in decentralized networks, ensuring a robust verification process that prevents robot-driven manipulation or control.

(4) Real-world applications: The system allows users to verify various claims, such as professional certificates, which can be linked to their digital identities, thereby enhancing trust in online interactions.

(5) User privacy authorization: This patent respects user privacy and does not require personal information to be associated with public keys, thereby protecting user identities while giving users the power to govern the network.

DEX

Dex combined TVL 13.3 billion,That’s an increase of 0.62 billion from last week. Dex’s 24-hour trading volume was 4.4 billion, and its 7-day trading volume was 21 billion, a decrease of 1 billion from last week.

Ethereum

ETH L2/sidechain

BTC L2/Sidechain

The BTC ecology is generally rising, and the TVL of BRC 20 on STX has tripled in one week, from 24 mln to 61 mln.

Alt L1

Cosmos

The top ten projects with net inflows from IBC volume this week are: Osmosis, Axelar, Cosmos hub, Kujira, Noble, Celestia, Neutron, Stride, Akash and Terra.

The Cosmos hub initiated a vote to allocate 900,000 ATOM to the Osmosis stATOM/ATOM pool. This proposal aims to increase the circulating funds of atoms by allocating 900k atoms to this pool. If the BTC market continues, it is expected that ATOM, RUNE, and NTRN of the Cosmos ecosystem will continue to maintain a good upward trend.

Derivatives DEX

Last week, BTC broke through the resistance level of 38,000 and stood above 40,000. This has led to an increase in open interest, which currently stands at $39.4 billion, up about $4 billion from its previous level. Open interest has returned to levels last seen in the first half of 2022.

Over the past week, the contract has still maintained high trading volume. However, this time when BTC exceeded 40,000, there was no ultra-high transaction volume like when it exceeded 32K.

The structure of the derivatives DEX track remains unchanged, with DYDX still in the first echelon and GMX/SNX in the second echelon in terms of trading volume. However, the trading volume of derivatives DEX dropped significantly this week compared with the previous two weeks.

DYDX unlocked approximately 30% of the tokens held by the team and investors on December 1, accounting for approximately 15% of the total token supply. The circulating market value before unlocking accounted for approximately 19%, and after unlocking it accounted for 38%, which is equivalent to doubling the circulating market value. On the day of unlocking, Amber group deposited approximately 5.7 million unlocked tokens into Binance for sale, and the token price fell by approximately 6%. With the release of potential selling pressure, the short-term negative effects of DYDX have been digested.

POW

POW concept tokens are diverging. The old POW concept token rose as BTC exceeded 40,000. The new POW concept currency leaders KAS and TAO still maintain a volatile and rising state. In addition to CLORE, new POW tokens with a market value of less than $100 million are still in the midst of a correction. The main reason is that these small market capitalization tokens have experienced a large increase in the past, as well as the long-term development of some projects is unclear and profits have been withdrawn. TAO and CLORE not only benefit from the POW concept, but also benefit from the AI ​​concept. The AI ​​track has overall increased over the past week.

From the perspective of GPU/CPU computing power, ZEPH continues to maintain growth in computing power. Although the price has retraced about 40% from its highest point, the computing power is still growing. CLORE’s hashrate increased by approximately 4% from 3% last week. DNX’s computing power was swallowed up by newly developed projects and dropped to less than 10%.

GameFi

This week, the gaming sector has been generally quiet. From November 28 to December 5, the token with the highest price increase in the Gamefi sector was BIGTIME. MEME comes next, followed by RON. Bigtime and Meme have not had much marketing action and game progress recently, while Ronin Network has seen an increase in its overall number of active users due to the entry of pixels games. However, the main asset on the Ronin chain is still Axie Infinity, and the amount of funds flowing into Ronin has not increased significantly yet.

(Note: Due to too many Gamefi projects, only some projects are included.)