After a very volatile week in the cryptocurrency market, users focused on the next week's altcoin developments.
Highlights of This Week
- Since the Ethereum Shanghai Update, $500 million has been inflows into liquid staking derivatives (LSD), while FXS surpassed 160,000 frxETH deposits, leading 19% growth, followed by Rocket Pool and Lido.
- Lens Protocol has announced Bonsai, the Optimistic L3 scaling solution for decentralized social media that significantly improves scalability and reduces costs.
- Circle has increased the cross-chain liquidity of USDC by introducing the Cross-Chain Transfer Protocol on Ethereum and Avax.
- Accepted GMX offer to integrate Chainlink's oracles for 1.2% of protocol fees.
- Curve has launched Tricrypto Next-Generation, which offers ERC20 compatibility, lower transaction fees, and improved price oracles.
- The YIP-72 proposal for the launch of yETH, a basket of LSDs, was accepted with great support.
- Announced Catalyst, a modular cross-chain liquidity protocol.
- LayerZero launched Essence, reducing the operational time of validators to under an hour and allowing teams to scale validator sets.
- Arbitrum DAO distributed 113 million ARB tokens to more than 100 projects, but TridentDAO soon sold all the tokens it bought.
- GND, an Arbitrum-backed stablecoin protocol built on Uniswap V3, was launched and quickly raised $9M in TVL within two days.
- Gamma, a concentrated liquidity management protocol, has surpassed the $110 million mark in total locked value (TVL).
- ether.fi has announced Operation Solo Staker, a program that provides 12 free staking machines to users worldwide who commit to running a node for three years.
- Aptos introduced delegated staking to increase participation in the network.
- Tevaera, a zkSync Era gaming ecosystem protocol, has launched its mainnet.
- Launched Cashmere Labs testnet, a MEV Protected cross-chain swap protocol.
- 0xAcid, an Arbitrum LSD protocol, introduced the meme token LSDoge.
- Trust Wallet has refunded $170,000 to affected users after a browser extension fixed the wallet rendering vulnerability.
- Synthetix aims to lower fees for BTC and ETH and increase the maximum leverage for open positions to 50x.
- Optimism Collective has proposed a $6 million budget to support innovation.
- Lido requests 24.5 million DAI and 200 thousand LDO for the development of V2.
- Cryptex Finance has proposed to incentivize liquidity with 37.5k ARB airdrop distribution.
Next Week's Major Altcoin Developments
- The OP Bedrock Upgrade will be available soon with significantly reduced network fees and zero-knowledge proofs.
- Full withdrawals from Lido are expected in early May.
- crvUSD is expected to be released soon, as evidenced by recent test contract setups and increased GitHub activity.
- Blur season 2 ends on May 1, and 300 million BLUR tokens are distributed to users.
- Optimism liquidity mining rewards have been discontinued and will resume on May 3.
- MKR's lending product Spark Protocol is expected to be launched soon.
- Phantom is preparing to go multi-chain on Ethereum and Polygon on May 1.
- Bybit will require mandatory KYC for all services from May.
- Sui Mainnet launches on May 3, and the first trading will take place on OKX.
*Not investment advice.
