Daily Alpha and Summary. August 22, 2024

Defi

Nightshade 2.0 goes live on NEAR Mainnet, introducing Stateless Validation to incoporate Sharding in its core design for Greater Scalability

Sony is launching its own L2— Soneium, powered by OP Stack

Appchain protocol, Tanssi is expanding from Polkadot to Ethereum with its Symbiotic restaking protocol, enabling rapid deployment of decentralized networks (AVSs) in minutes, utilizing Ethereum's security.

Magic Eden to launch token ME

Solv deposits 250 BTC to Babylon to fill Babylon Cap-1. They paid $700k in fees to pull this through. All this to secure Solv BTC LST— SolvBTC.BBN. Also, 250BTC is like 1/10 of what they got

Babylon Mainnet Phase-1 cap filled

Franklin Templeton launches tokenized MMF (Money Market Fund) on Avax

Satlayer, BTC staking solution through Babylon , raises $8M preseed led by HackVC

BTC L2 network, Ark Labs raise $2.5M in preseed led by Draper Associates

Justin Sun's USDD stablecoin no longer backed by Bitcoin, following 12k BTC removal from its collateral address

Zellic, a blockchain security audit provider, has acquired Paradigm-backed bug bounty platform Code4rena, which boasts the largest collection of security researchers in the industry.

Data oracle, Stork raise $4M seed led by Faction VC

Optimism in collaboration with Succintlabs is building OP Succinct— an upgradeable path to convert ETH Rollups from optimistic verification to zkp verification.

State of the Market

Russia to establish two crypto exchanges