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DeFi Flourishes as BlackRock Shills Crypto on Live TV


Week in DeFi: DeFi Flourishes as BlackRock Shills Crypto on Live TV

Week in DeFi: DeFi Flourishes as BlackRock Shills Crypto on Live TV

EigenLayer announces the upcoming resumption of deposits and the introduction of three new supported liquid staking tokens. StarkNet takes another step closer to its token launch, with the passing of a proposal to pay gas fees in STRK, while Cosmos-based chain, Berachain, finally arrives on testnet, in a highly anticipated launch.

Overview

Total Value Locked (TVL) across all chains surged after the crypto markets took another leg up following the approval of the Bitcoin spot ETF on US exchanges. Notable outperformers include Move-based chain, Sui, Cosmos chain, Injective, and BitDAO-backed L2, Mantle, which saw 20-40% increases in TVL.

Source: https://coinmarketcap.com/chain-ranking/

Welcome to Alpha Central

Ted covers eight big themes for the coming year including:

  • Spot altcoin ETFs, specifically starting with ETH

  • The end of quantitative tightening from the Fed

  • Return of liquidity to crypto

  • Bitcoin Halving

  • Inflation stabilizes

  • Big improvements in AI

  • Recession predictors are wrong again

  • China continues to print more money

Ethereum: EigenLayer Unpausing Deposits

ETH restaking protocol, EigenLayer, will be reopening the protocol for deposits on January 29th, with the existing caps. Three new liquid staking tokens will also be introduced: Frax Finance’s sfrxETH, Mantle’s mETH and Liquid Collective’s lsETH.

Other Product Launches and Updates

L2s: StarkNet Takes a Step Closer to the STRK Token

Zero-knowledge rollup, StarkNet, goes live with v0.13, enabling gas fees to be paid with either ETH or the upcoming governance token, STRK.

Polygon introduces Libre, an institution-focused L2 built using Polygon’s Chain Development Kit. Libre is designed to focus on tokenization of assets with Brevan Howard and Hamilton Lane lined up as their first institutional partners.

Other Product Launches and Updates

Cosmos: Berachain Testnet Live

Cryptic Cosmos-based chain, Berachain, finally launches its highly anticipated testnet, allowing users to test out a handful of existing applications on the chain.

The Cosmos Hub has put forth a governance proposal to reduce the inflation from 7% to 0%. If passed, this means that once the goal of 67% bonded ATOM is reached, ATOM inflation will be reduced to 0% over time.

EigenLayer announces an official collaboration with the Cosmos ecosystem to enable Cosmos chains to tap into Ethereum’s collective security. Teams such as Lay3er and Ethos are working to develop solutions to enable these functions.

Osmosis announces the upcoming launch of Staking V1, which enables OSMO holders to stake, claim rewards and redelegate directly via the Osmosis application without passing through their users’ wallet dashboards. Staking V2 will enable multi-chain staking.

Another Week, Another Airdrop

The Merchant Moe airdrop goes live on Mantle, allowing users who have staked JOE on Merchant Moe to collect their MOE tokens. Users can continue staking JOE on Merchant Moe to earn MOE emissions for the next 12 months.

Cross-chain bridge, Orbiter Finance, announces its upcoming token launch, simultaneously hinting that its existing point system, O-Points, will be crucial in determining the airdrop distribution.

Multi-chain stableswap DEX, Wombat Exchange, teases an upcoming snapshot on 10th February for stakers of the WOM token and liquidity providers on the platform.

Tweet of the Week

Blackrock CEO, Larry Fink, shills crypto and shuts down Elizabeth Warren in the same session on live television.

Stay updated on your favorite projects and stay tuned for next week’s edition, and keep supporting your favorite projects, degens!





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