Sui ecosystem TVL surpasses $1.15 billion, with a 47% increase in a single month.
Author: Deep Tide TechFlow
Yesterday's Market Dynamics
Eigen Foundation: EIGEN Token Transfer Restrictions to be Lifted on September 30
The Eigen Foundation announced on the X platform that the transfer restrictions on EIGEN tokens are expected to be lifted on September 30, 2024. The Eigen Foundation emphasized that there will be a 7-day withdrawal waiting period for the currently staked EIGEN tokens after the unstaking.
Arbitrum DAO is Voting on "Allocating 250 Million ARB to Support Foundation Strategic Partnerships" Proposal
Snapshot shows that the Arbitrum DAO is voting on a proposal to allocate 250 million ARB (approximately $153 million) to strengthen strategic partnerships with the Arbitrum Foundation. As of the time of publication, the proposal has a support rate of 99.2%, and the voting will end on September 26. The proposal, put forward by Wintermute Governance, emphasizes that the funds will be used to promote key strategic partnerships, and all expenditures will adhere to the foundation's established standards. If approved, the foundation will detail the usage of this budget in the first quarter of 2025 in its annual transparency report.
Vitalik: Independent Validators are the "First Line of Defense" and the "Last Line of Defense" for the Ethereum Network
Vitalik Buterin, co-founder of Ethereum, shared a summary of his fireside chat at the recent Home Staking Summit in Singapore on social media, discussing the actual value of independent validators (including small businesses and community validators) to the network, and what changes L1 can make to better support these validators. Vitalik emphasized that independent validators are both the "first line of defense" for the Ethereum network, providing censorship resistance, and the "last line of defense" by protecting the network through preventing the final confirmation of a faulty chain by 67%. Independent validators are typically unrelated to large organizations, making them difficult to be captured or coerced by regulators, thereby enhancing Ethereum's position as a trusted and neutral block space.
Former Alameda CEO Caroline Ellison Sentenced to Two Years in Prison
According to The Block, former girlfriend of SBF and former CEO of Alameda Research, Caroline Ellison, has been sentenced to two years in prison for her involvement in the bankruptcy case of the cryptocurrency exchange FTX. Ellison pleaded guilty in December 2022, admitting to seven charges, including two counts of conspiracy to commit wire fraud, two counts of actual wire fraud, one count of conspiracy to commit commodity fraud, one count of conspiracy to commit securities fraud, and one count of conspiracy to commit money laundering. Judge Lewis Kaplan, considering Ellison's comprehensive cooperation with the prosecution, gave a relatively lenient sentence. The judgment also requires Ellison to forfeit approximately $1.1 billion and allows her to serve her sentence in a minimum-security prison.
On-chain platform Daylight Completes $6 Million Seed Round Financing, Led by USV and 1kx
Personalized on-chain behavior recommendation platform Daylight has completed a $6 million seed round financing, led by Union Square Ventures (USV) and co-led by 1kx. Framework Ventures, Chapter One, as well as co-founders of Zerion, Blockaid, and Yup, also participated in this round of investment. This round of financing brings Daylight's total financing to $9 million. It is reported that Daylight is an "on-chain personalized" API integrated into major wallets such as MetaMask and Coinbase Wallet, providing users with transaction recommendations for airdrop claims, NFT minting, and more. The company claims that its API currently drives 5% of the transaction addresses in collaborating wallets and reaches 6 million active addresses receiving recommendations monthly. Daylight plans to add a significant new transaction category in the fourth quarter and is currently recruiting backend engineers and auditors.
Sui Ecosystem TVL Surpasses $1.15 Billion, with a 47% Increase in a Single Month
With the Grayscale Sui Trust open to accredited investors, the daily trading volume of SUI tokens has surpassed $800 million. The total value locked (TVL) has reached $1.15 billion, with a 377% increase since the beginning of the year and a 47% increase in a single month. The major DeFi protocols driving this growth include: Navi Protocol (TVL $439 million, monthly increase 54.67%), Scallop (TVL $233 million, monthly increase 30.69%), SuiLend (TVL $198 million, monthly increase 89.27%), Cetus DEX (TVL $159 million, monthly increase 44.37%), and Aftermath Finance (TVL $80 million, monthly increase 48.21%).
Movement Ecosystem DeFi Project Meridian Completes $4 Million Seed Round Financing, Led by ParaFi Capital and Borderless Capital
Meridian, a decentralized liquidity market and liquidity staking protocol built on the Movement, announced the completion of a $4 million seed round financing, led by ParaFi Capital and Borderless Capital, with participation from institutions such as Amber Group, Saison Capital, Interop Ventures, and Oak Grove Ventures. With this funding, Meridian plans to expand its global team and actively recruit talents in engineering, product, and marketing fields. The protocol is currently live on the testnet and plans to launch on the first day of the Movement mainnet. It is worth noting that, compared to existing EVM and SVM solutions, the Move ecosystem currently accounts for only a small portion of on-chain liquidity and trading volume. Meridian plans to use the security and composability of the Move language to narrow this gap.
Bithumb Adds UXLINK and FIDA KRW Trading Pairs
According to an official announcement, the South Korean cryptocurrency exchange Bithumb has announced the addition of UXLink (UXLINK) and Solana Name Service (FIDA) KRW trading pairs, with deposit and withdrawal opening within 2 hours of the announcement. The trading start time for UXLink (UXLINK) is 17:30 on September 24 (Korean time); for Solana Name Service (FIDA), it is 18:30 on September 24 (Korean time).
Babylon Mainnet Phase Two to Launch in the Second Week of October
The Bitcoin staking protocol Babylon announced on the X platform that the second phase of the Babylon mainnet will launch in the second week of October, with a larger total staking limit. Members of the first phase are urged to unstake and withdraw all excess staking to ensure their position in the second phase. More details about the second phase will be announced soon.
Coinbase to List ZKsync (ZK)
Coinbase Assets tweeted that Coinbase will add support for ZKsync (ZK) on the ZKsync network. Do not send this asset through other networks, as there may be a risk of funds being lost. If liquidity conditions are met, trading will begin at 0:00 on September 26 (Beijing time) or later. Once the asset supply is sufficient, the ZK-USD trading pair will be phased in for trading.
Market Dynamics
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