Ondo Finance has launched a new institutional-grade bridging solution for tokenized real-world assets (RWAs), leveraging LayerZero’s decentralized verifier network (DVN) for enhanced security.

The S&P 500 rose 0.57% to a record high, driven by investor focus on upcoming inflation data, despite concerns over new tariff threats and the Federal Reserve's cautious stance on rate cuts.  Coindesk Indices, an index measuring broader cryptocurrency market performance was down by 2.60%, with Bitcoin and Ether dropping by 4.08% and 3.27%, respectively in the past 24 hours.

Today's top performer is FTM, which surged 9.9% following Sonic Labs' partnership with OctavFi for advanced on-chain financial management.

Sonic Labs (FTM), founded in 2018, formerly known as Fantom Foundation, supports the development of Sonic, a new layer-1 blockchain designed for fast, efficient transactions and secure connectivity to Ethereum. It focuses on creating decentralized applications and managing governance for the Sonic ecosystem, which is set to launch later in the year. 

 to bring institutional-level financial management, advanced on-chain treasury management, and financial reporting to its protocols.

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 a new institutional-grade bridging solution for tokenized real-world assets (RWAs), leveraging LayerZero’s decentralized verifier network (DVN) for enhanced security. This solution enables seamless transfers of USDY, Ondo’s yield-bearing tokenized US Treasuries, across Ethereum, Arbitrum, and Mantle. The bridging architecture incorporates trusted bridge providers like PolyhedraZK and Axelar, along with Ondo’s own DVN, ensuring secure and decentralized transaction validation. The integration is available now via Ondo’s frontend and Stargate Finance, with support for additional chains planned.

Yesterday, BTC spot ETF flows recorded a total outflow of $122.8M, including $36.1M from GBTC and $86.7M from non-GBTC funds.

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, requiring wallet and social handle registration by Dec 2, 2024, 2 PM UTC. Eligibility criteria include completing 3 transactions across 2 apps on Movement's testnets and finishing Road to Parthenon quests. After TGE, users can claim MOVE tokens on Ethereum Mainnet or Movement Mainnet, with the latter offering a 1.25x multiplier. More airdrop seasons will follow post-mainnet launch.

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Ondo Launches Institutional-Grade Bridging for Tokenized RWAs with LayerZero Security

Jupiter, a decentralized exchange aggregator on the Solana blockchain, has announced the start of its JUP token airdrop, distributing 40% of its total supply (4 billion tokens) across four phases. Read more here.

Last week, SPX index is up 0.8%, this rise was fueled by expectations that the Federal Reserve might maintain current interest rates and possibly reduce them next year. The broader cryptocurrency market is up, with Bitcoin and Ether rising 0.84% and 0.93% respectively in the past 24 hours. 

Today’s outperformer is BEAM, which jumped 44.0% after Haven's Compass integrates with Beam Blockchain for enhanced in-game asset ownership.

Beam (BEAM) network opened on October 25, 2023, is a gaming-focused blockchain developed by Merit Circle, operating as a subnet on the Avalanche (AVAX) blockchain to benefit from its security and efficiency. Integrated with LayerZero for interoperability, Beam allows the creation of omnichain NFTs for seamless asset transfer across chains. Haven's Compass, a first-person shooter game, is integrating with Beam to emphasize true ownership of in-game assets using NFTs. Haven is available in Early Access on Epic Games and will fully deploy on Beam soon, with plans for a free NFT mint, token sale, and on-chain integration. This collaboration highlights Beam's focus on blockchain-enhanced gaming.

Jupiter, a decentralized exchange aggregator on the Solana blockchain, has announced the start of its JUP token airdrop, distributing 40% of its total supply (4 billion tokens) across four phases. The first phase allocates one billion tokens to users who achieved at least $1,000 in swap volume by November 2. The distribution includes 2% to all wallets, 7% based on adjusted volume, and 1% to active community members and developers. Despite Jupiter's $35 billion cumulative trading volume, some users are dissatisfied with their allocations, feeling they deserve more based on their long-term engagement. Users can check their eligibility and allocation on Jupiter's platform.

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Intermediate

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BEAM Surges as Haven's Compass Joins Beam Network, Solana-Based DEX Jupiter Initiates JUP Token Airdrop

Lugano, a Swiss city, has integrated the Polygon proof-of-stake protocol into its MyLugano payment app, enhancing its role as a crypto hub in Europe. Read more here.

Daily Top Performer — Sweat Economy (SWEAT)

The U.S. market was closed on Thursday for holiday. The broader cryptocurrency market was down, with Bitcoin and Ether dropping 0.51% and 0.65% respectively in the past 24 hours. 

Today’s outperformer is SWEAT, which jumped 10.5% as FIAT® Unveils Web3 Integration with Exclusive Digital Collectibles and Crypto Rewards in Sweat Economy. 

Sweat Economy (SWEAT), founded in 2015, is a crypto ecosystem that rewards users with digital currency for physical activity, based on the Move-to-Earn model. Recently, FIAT® has introduced the FIAT® Pass in collaboration with the Sweat Economy, offering an interactive Web3 experience. U.S.-based users of the Sweat Wallet app can participate in a 2-minute lesson to join the free-to-mint event for the FIAT® Pass, earning $SWEAT as a bonus. Additionally, participants have a chance to win one of 10 CINQUECENTO digital collectibles, linked to the electric FIAT® 500e, offering unique benefits and exclusive experiences. 

Lugano, a Swiss city, has integrated the Polygon proof-of-stake protocol into its MyLugano payment app, enhancing its role as a crypto hub in Europe. This integration enables seamless crypto transactions and introduces a new multichain digital wallet. Additionally, MyLugano is launching an NFT collection, LVGA/XY Flowers, in collaboration with artist Yuri Catania, which will be tokenized on the Polygon network. Lugano's ambitious blockchain strategy, supported by Polygon and Tether, aims to allow cryptocurrencies for city services payments, further establishing the city as a leader in blockchain adoption in Europe.

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SWEAT Surges As FIAT® Launches Web3 Experience with Digital Rewards in Sweat Wallet App, Polygon Integrates with European Crypto Hub Lugano with MyLugano App

BlackRock has registered an iShares Ethereum Trust in Delaware, which analysts speculate could be a step towards filing for an Ethereum ETF. Read more here.

Daily Top Performer — Neo Smart Economy (GAS)

The SPX index is down 0.81%, market movements occurred as Powell expressed doubt that current monetary policies are tight enough to bring inflation down to 2%. The broader cryptocurrency market is up, with Bitcoin and Ether rising 2.70% and 9.10% respectively in the past 24 hours. 

Today’s outperformer is GAS, which jumped 54.1% as Neo Announces Launch of MEV-Resistant EVM-Compatible Sidechain for Enhanced DeFi Security. 

Neo Smart Economy (GAS), launched on 2014, is a blockchain platform that supports the development of decentralized applications and provides decentralized storage, external data oracles, and digital identity verification. It uses two cryptocurrencies: NEO for network governance and staking, and GAS for transaction fees and computational services. Neo is launching an EVM-compatible sidechain that offers MEV resistance and is slated for a testnet release by the end of 2023. It will incorporate Neo's existing dBFT consensus mechanism and feature transaction privacy through enveloping and proxy contracts. The GAS token will be used as governance and utility for this sidechain. It aims to attract a broader developer base with its compatibility and reduce entry barriers for users, with the community encouraged to engage in its governance and development.

BlackRock has registered an iShares Ethereum Trust in Delaware, which analysts speculate could be a step towards filing for an Ethereum ETF. The firm previously registered similarly before applying for a Bitcoin ETF. BlackRock has not commented on the registration. The move takes advantage of Delaware's corporate-friendly laws. There is growing interest in Ethereum ETFs, with Grayscale looking to convert its Ethereum trust to an ETF and the start of Ethereum futures trading on the CBOE. Following the news, Ethereum's price exceeded $2,000 for the first time since July.

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GAS Surges After Neo Announces EVM Chain Using GAS as Governance, BlackRock Registers Ethereum Trust Fueling Speculation of ETF

The recent airdrop of the WEN meme coin on the Solana blockchain generated significant attention and activity.

Daily Top Performer — Conflux Network (CFX)

Last week, the SPX index is up 1.06%, despite strong U.S. economic data reducing prospects for a March rate cut, traders anticipate rate reductions later in the year. The broader cryptocurrency market is up, with Bitcoin and Ether rising by 0.47%  and 0.51%, respectively in the past 24 hours. 

Today’s outperformer is CFX, which jumped 8.3% after Conflux partners with BlockBooster to enhance Web3 infrastructure and gaming projects.

Conflux Network (CFX), launched in 2018, is a hybrid blockchain combining proof of work and proof of stake, allowing token staking and enhanced security with its recent Hydra upgrade. It operates within China's regulatory framework by focusing on crypto-to-crypto trading. Conflux has formed a strategic partnership with BlockBooster, an Asia-based venture studio, to focus on Web3 Infrastructure, Social, and Gaming projects. This partnership will involve identifying Web3 incubation opportunities within the Conflux ecosystem and jointly organizing major events for Conflux builders. More updates are expected to follow.

The recent airdrop of the WEN meme coin on the Solana blockchain generated significant attention and activity. WEN was distributed to over a million Solana wallets, including Jupiter DEX users, NFT project holders, and Solana Saga smartphone owners, with each wallet receiving 643,652 WEN, valued at over $90 based on its current price. Despite some initial price spikes, WEN's value settled to a fraction of a penny. The Solana network remained stable during the event, although the Phantom wallet experienced performance issues. This airdrop was a test for Jupiter's new launchpad, which will be used again for its own token, JUP. The event highlights the volatility of meme coins and the potential for significant price movements post-airdrop.

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WEN Airdrop Generated Significant Activity and Attention

Aave Companies, a web3 software technology company, is rebranding to Avara. Read more here.

Daily Top Performer — Sushiswap (SUSHI)

The SPX index is up 0.12%, driven by reduced US inflation and expectations that the Federal Reserve may stop raising interest rates, with speculation about a potential rate cut by mid-next year. The broader cryptocurrency market is down, with Bitcoin and Ether dropping 4.26% and 4.52% respectively in the past 24 hours. 

Today’s outperformer is SUSHI, which jumped 14.9% as community considers new tokenomics model for sustainable growth and improved efficiency. 

Sushiswap (SUSHI), launched in August 2020, is a decentralized finance protocol on Ethereum, enabling users to trade cryptocurrencies via liquidity pools without a central authority. It operates like Uniswap and Balancer, with its native cryptocurrency, SUSHI, allowing holders to propose and vote on platform changes. The Sushi community is evaluating a new tokenomics model aimed at sustainable growth and addressing current inefficiencies. This revised model proposes improved liquidity incentives, revised staking mechanisms, and diversified revenue sources, focusing on protocol sustainability and token utility enhancement. The community is asked to provide feedback and vote on adopting this new model or maintaining the existing one.

Aave Companies, a web3 software technology company, is rebranding to Avara and has acquired Los Feliz Engineering, the team behind the Ethereum-based crypto wallet Family, to broaden its reach in the web3 domain. The company, initially known as ETHLend and later as Aave, is diversifying beyond decentralized finance (DeFi) with this move. Avara, under which Aave Labs and Aave Protocol will continue to operate, aims to make web3 more accessible to users globally, leveraging its recent acquisitions including Family and Sonar, a metaverse mobile application acquired in December 2022. The rebrand reflects Avara's evolving vision for expanding its influence in the web3 ecosystem.

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SUSHI Surges Proposing Revised Tokenomics for Better Growth and Efficiency, Aave Companies Rebrands to Avara and Expands Web3 Presence with Crypto Wallet Acquisition

Jupiter, a key DeFi aggregator on Solana, has set January 31 as the date for its much-anticipated JUP token airdrop, aiming to reach nearly a million users in the Solana DeFi space.

Daily Top Performer — Flare Network (FLR)

The broader cryptocurrency market was mixed overnight, with Bitcoin rising by 0.46% and Ether dropping 0.15% in the past 24 hours. 

Today’s outperformer is FLR, which jumped 38.1% after Google Cloud partners with Flare Blockchain as validator.

Flare Network (FLR), launched on July 2022, is a layer 1 blockchain emphasizing interoperability and smart contract capabilities for blockchains like the XRP Ledger. It utilizes the State Connector and Flare Time Series Oracle (FTSO) for data integration and runs on the Ethereum Virtual Machine (EVM) for easier development. Google Cloud has become a validator and infrastructure provider for the Flare blockchain, joining 100 other organizations in these roles. This collaboration enhances the Flare network's security and supports its Oracle system. The announcement led to a more than 30% increase in the value of Flare's native token, FLR. This partnership signifies the growing integration of blockchain technology within major tech companies like Google.

Jupiter, a key DeFi aggregator on Solana, has set January 31 as the date for its much-anticipated JUP token airdrop, aiming to reach nearly a million users in the Solana DeFi space. This event will see the distribution of one billion JUP tokens, with individual allocations determined by each user's transaction history and engagement on the Jupiter platform. A guaranteed minimum of 200 JUP will be given to all users, with additional tokens for those who meet specific requirements. Additionally, Jupiter has plans for three more airdrops, each releasing one billion JUP, totaling 5 billion JUP – half of the entire supply. The remainder will be controlled by the Jupiter team. In advance of the JUP airdrop, Jupiter is also launching a meme coin as an experimental step for its new platform, though details about its distribution are yet to be clarified.

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Jupiter Sets JUP Airdrop Date and Teases New Meme Coin Launch on Solana

Yuga Labs and NFT platform Magic Eden are collaborating to launch a new Ethereum-based NFT marketplace by the end of 2023. Read more here.

Daily Top Performer — Multiversx (EGLD)

The SPX index is up 0.94%, investors are regaining interest in the U.S. stock market as a pullback in Treasury yields suggests a potential easing in the recent selloff. The broader cryptocurrency market is mixed, with Bitcoin dropping 0.13% and Ethereum rising 2.01% in the past 24 hours. 

Today’s outperformer is EGLD, which surged 58% over the weekends as MultiversX xDay showcased new ultra-fast transactions and expanded ecosystem. 

MultiversX (EGLD), launched in January 2023, formerly Elrond, is a blockchain platform focused on scalability and low transaction costs. It uses Adaptive State Sharding and Secure Proof-of-Stake for efficiency. After rebranding in 2022 to focus on metaverse, it launched xFabric, a customizable blockchain; xPortal, an app for asset management and communication; and xWorlds, a tool for creating virtual worlds. MultiversX unveiled transformative updates at xDay 2023, highlighting their network's leap towards 1-second blocktime and ambitious 100K+ TPS, reinforced by collaborations with tech leaders like Google and Tencent. The event showcased ecosystem growth with over 50-chain interoperability and new product features, including a universal ZK Rollup and a revamped xExchange V3. Additionally, the vibrant community participation in a Hackathon and the strategic ecosystem expansions set the stage for MultiversX's future growth.

Yuga Labs and NFT platform Magic Eden are collaborating to launch a new Ethereum-based NFT marketplace by the end of 2023, which will enforce payment of royalties to creators on secondary sales. This move supports the ongoing income and incentivization of creators within the NFT space, making the marketplace the first major Ethereum NFT platform with a contractual obligation to uphold creator royalties. The initiative underlines both companies' commitment to a fair ecosystem for creators and comes as a direct stance against other marketplaces that have made royalties optional, signaling a potential shift in industry standards.

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EGLD Surges After Unveiling Speedy Blockchain Updates and Growth at xDay Event, Yuga Labs and Magic Eden Set to Debut Royalty-Enforcing Ethereum NFT Marketplace

Dymension, a layer-1 blockchain built on Cosmos, is conducting an airdrop of DYM tokens for over a million crypto users and NFT owners across chains like Solana, Ethereum, and Cosmos.

Daily Top Performer —Maverick Protocol (MAV)

The SPX index is down 0.57%, which is likely attributed to investors taking profits after strong gains in 2023, amidst rising dollar and Treasury yields. The broader cryptocurrency market is up, with Bitcoin and Ether rising 3.34% and 1.16% respectively in the past 24 hours. 

Today’s outperformer is MAV, which jumped 20.3% after Maverick Protocol launched Maverick AMM v2, an advanced AMM, and expanded initiatives in the DeFi space.

Maverick Protocol (MAV), launched in March 2023, is a DeFi platform enhancing liquidity and capital efficiency through its Dynamic Distribution AMM, allowing adaptive capital management for liquidity providers. In 2023, Maverick Protocol launched its innovative AMM on Ethereum, achieving significant trading volume and DEX rankings. For 2024, it plans to introduce Maverick AMM v2 and a new vote-escrow model, alongside expansions into Layer 2 ecosystems and community-focused initiatives, continuing its growth and innovation in the DeFi space.

Dymension, a layer-1 blockchain built on Cosmos, is conducting an airdrop of DYM tokens for over a million crypto users and NFT owners across chains like Solana, Ethereum, and Cosmos. The network, which standardizes rollups using the inter-blockchain communication protocol, allows RollApp creators to select virtual machines and tokens, and publish data to external chains. Their "genesis rolldrop" offers 70 million DYM tokens (7% of the total supply) to eligible participants until January 21, 2024. Eligible users include those who staked TIA tokens in Celestia, users of various Ethereum layer-2 networks, Cosmos Hub and Stride users, over 500,000 Solana users, and owners of specific NFT collections. Additionally, Dymension plans to allocate 2.5 million DYM to users bridging funds from other networks post-airdrop. This initiative is part of a growing trend of token airdrops in the crypto community.

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Dymension Airdrops DYM Tokens to Crypto Users and NFT Owners

Lens, a decentralized social media platform developed by the Aave team, is set to migrate to its V2 mainnet starting October 30. Read more here.

The SPX index is down 2.53%, factors such as strong US economic data and mixed corporate earnings contributed to last week's losses. The broader cryptocurrency market is mixed, with Bitcoin dropping 0.05% and Ether rising 0.17% in the past 24 hours. 

Today’s outperformer is GMT, which surged 14.2% in the past 24 hours as STEPN Collaborates with Apple to Integrate Apple Music, Strengthening Web3 Adoption. 

STEPN (GMT), launched in March 2022, a mobile NFT game on the Solana blockchain, rewards users with tokens for walking, jogging, or running. STEPN has announced its second collaboration with Apple: the integration of Apple Music into the STEPN app. This follows the app's first feature release with Apple, which was the integration of Apple Pay. The move is seen as a testament to the growing acceptance of Web3 technologies by traditional tech giants. The integration allows users to listen to their favorite playlists directly within the STEPN app, offering a more immersive experience.

Lens, a decentralized social media platform developed by the Aave team, is set to migrate to its V2 mainnet starting October 30. The update aims to offer a faster, more scalable, and developer-friendly ecosystem. Users will automatically be moved to V2 and don't need to take any action. Although Lens saw user activity peak at over 50,000 daily posts in April, engagement has since declined to 4,000-5,000 posts per day. The V1 API will stop accepting new data after October 30 but will remain read-only for three months. The migration is expected to involve around 20 million transactions and will prioritize active users.

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Daily Bits

Ondo Launches Institutional-Grade Bridging for Tokenized RWAs with LayerZero Security

Daily Bits

BEAM Surges as Haven's Compass Joins Beam Network, Solana-Based DEX Jupiter Initiates JUP Token Airdrop

Daily Bits

SWEAT Surges As FIAT® Launches Web3 Experience with Digital Rewards in Sweat Wallet App, Polygon Integrates with European Crypto Hub Lugano with MyLugano App

Daily Bits

GAS Surges After Neo Announces EVM Chain Using GAS as Governance, BlackRock Registers Ethereum Trust Fueling Speculation of ETF

Daily Bits

WEN Airdrop Generated Significant Activity and Attention

Daily Bits

SUSHI Surges Proposing Revised Tokenomics for Better Growth and Efficiency, Aave Companies Rebrands to Avara and Expands Web3 Presence with Crypto Wallet Acquisition

Daily Bits

Jupiter Sets JUP Airdrop Date and Teases New Meme Coin Launch on Solana

Daily Bits

EGLD Surges After Unveiling Speedy Blockchain Updates and Growth at xDay Event, Yuga Labs and Magic Eden Set to Debut Royalty-Enforcing Ethereum NFT Marketplace

Daily Bits

Dymension Airdrops DYM Tokens to Crypto Users and NFT Owners

Daily Bits

STEPN Surges Following Integrates Apple Music in New Collaboration, More Scalable V2 Mainnet Amid Decline in User Activity

Daily Bits