Weekly Project Updates: Activity on Base Chain remains fervent, etc
Colin Wu . 2024-03-30 . Data

1. Base Network DEX Achieves Record $730 Million Single-Day Trading Volume, Setting Historic High link

On March 29th, the number of transactions on the Base network reached 2.275 million, marking a historic high. The active users on that day reached 383,000, also reaching a historical peak. According to DeFiLlama data, on March 29th, the trading volume on Base network DEX reached $730 million, setting a new record. Over the past 7 days, the stablecoin market value on the Base network has increased by 55% to over $1.1 billion. Notably, on March 27th, there was a net inflow of $233 million into stablecoins, also setting a new record.

2. Optimism Retro Funding to Commence Four Rounds of Distribution Starting May, Allocating 850 Million OP Tokens link

Optimism has allocated 850 million OP tokens (valued at $3.3 billion) for supporting projects or individuals within its ecosystem. The Optimism Collective has stated that a portion of the 850 million OP will be distributed in four rounds starting from May and continuing throughout 2024; 40 million OP tokens, worth approximately $158 million, have already been allocated in the past three rounds.

3. Arbitrum and Azuki to Unveil AnimeChain, a Web3 Network Inspired by Anime, through Collaboration link

Zagabond, the founder of Azuki, has announced a collaboration between Azuki, AnimeCoin, and Arbitrum to establish AnimeChain. The team’s primary focus remains on transforming Azuki into a global anime IP, creating digital and physical experiences, and rewarding collectors. Looking ahead, expanding Azuki characters to AnimeChain as the primary launch partner will demonstrate the feasibility of bringing IP products and experiences onto the blockchain.

4. Solana Introduces New NFT Standard, Metaplex to Donate 50% of Protocol Fees to DAO link

The Metaplex Foundation has announced the launch of a new non-fungible token (NFT) standard called Metaplex Core for Solana. Compared to Solana’s existing Token Metadata standard, this new standard reduces minting costs and network demands by over 80%. Additionally, the Metaplex Foundation pledges to donate 50% of all historical protocol fees in the form of MPLX tokens to a DAO, incentivizing potential MPLX rewards.

5. Avalanche Announces Partnership with Chainlink and Australia & New Zealand Banking Group to Explore On-Chain Asset Settlements link

Avalanche has announced a partnership with Chainlink and the Australia and New Zealand Banking Group to explore on-chain asset settlement. The collaboration aims to connect the Avalanche network with Ethereum to facilitate global circulation and settlement of tokenized assets. With over 8.5 million retail and institutional clients, ANZ will leverage Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to enable Delivery versus Payment (DvP). This will allow customers to access, trade, and seamlessly settle tokenized assets across different networks and currencies.

6. Dogecoin Foundation: Dogecoin GigaWallet v1.0 Released link

The Dogecoin Foundation announced via Twitter that Dogecoin GigaWallet v1.0 has been released. GigaWallet is a backend service that provides convenient integrated APIs for online stores, exchanges, social media platforms, and other platforms, enabling programmable Dogecoin transactions.

7. Ethena to Airdrop ENA Tokens to Users on April 2nd link

The DeFi protocol Ethena, which offers the USDe token valued at $1.3 billion, has announced plans to airdrop tokens to users on April 2nd. The protocol intends to distribute 750 million ENA tokens, accounting for 5% of the total supply. The activity to earn “points” will conclude on April 1st, making users eligible for the token airdrop. Users who unstake, unlock, or sell all their USDe before this date will not qualify for the airdrop.

8. SingularityNET, Fetch.ai, and Ocean Protocol Tokens to Merge into ASI link

SingularityNET, Fetch.ai, and Ocean Protocol, three blockchain AI protocols, are in discussions to merge their tokens into ASI token, which would have an approximate fully diluted value of $7.5 billion. In response to the potential merger news, on March 27th, AGIX, FET, and OCEAN experienced a brief surge, with 24-hour gains of 13.4%, 15.4%, and 32.3%, respectively. As of the time of writing, AGIX, FET, and OCEAN have seen 7-day gains of 28.18%, 25.08%, and 24.49%, respectively.

9. DDAO Infrastructure Syndicate Announces Development of L3 Degen Chain Using Arbitrum Orbit link

The DAO infrastructure Syndicate, previously backed by a16z, has announced the construction of the L3 Degen Chain using Arbitrum Orbit, with settlements facilitated through Base and DA via AnyTrust. It’s noteworthy that the Gas token of this Degen Chain is DEGEN, originating from another social app Farcaster, the largest native Meme coin also backed by a16z. In February, Degen secured a financing round of 490.5 ETH led by 1confirmation.

10. Bitcoin Ordinals Founder Casey Releases Runes Documentation link

Casey, the founder of Bitcoin Ordinals, has released the highly anticipated Runes documentation. Runes allow Bitcoin transactions to etch, mint, and transfer digital goods native to Bitcoin. The Runes protocol messages, known as Runestones, are stored in Bitcoin transaction outputs. Runes are formed through etching, which creates a Rune and sets its attributes, with features such as pre-mining. Runestones may be malformed for various reasons, and such malformed Runestones are referred to as cenotaphs. Runes inputted into cenotaph transactions will be destroyed.

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