Incoming demand for OTC CRV
Spiral DAO: $500k-$1m
Aave: $2m
Frax: amount not decided


https://twitter.com/0xRamenUmai/status/1687284243448414208
https://twitter.com/0xRamenUmai/status/1687284248179560448

Trader Joe launches on Ethereum

1. Available markets
- USDC/USDT - base fee 0.005%
- DAI/USDT - base fee 0.0005%

2. Auto-Pools allow users to automate liquidity (similar to automated LP management on uni v3)

3. Onchain Limit Orders

4. JOE is now an omnichain fungible token (OFT), coming to Ethereum soon

5. sJOE staking on Ethereum coming soon

Source


Thoughts
- launching stable pools first seems timely given the exodus of TVL from Curve
- Trader Joe’s v2.1 (comparable to Uni v3 and forks) has the highest fee/tvl ratio (efficiency) of all its competitors - data sourced from Artemis

Frax Gov Proposal to Onboard RWA Partner

IanGPT Summary:
- FinresPBC, a public benefit corporation, aims to assist the Frax Protocol by managing cash-equivalent assets without seeking profit, as part of Frax V3 RWA strategy.

- The company's role is limited to holding reserves and issuing tokens representing these reserves for Frax Protocol.

- FinresPBC partners with Lead Bank and plans to expand its crypto-friendly financial partnerships.

- The proposal suggests adopting FinresPBC as the offchain partner for FRAX v3, promising transparency with monthly public reports.

Source

Adam says Huobi is Insolvent:
https://twitter.com/adamscochran/status/1687959096316542976?s=19

Justin Sun: “4”
https://twitter.com/justinsuntron/status/1688026465387044864

Ian's Intel #16
We're so back


⛓ L1/L2

Onchain Highlights
https://twitter.com/stacy_muur/status/1688113614148751361

Stacks Nakamoto Summary
https://twitter.com/TychoOnnasch/status/1686780580007153664

Chainlink VWAP Visualization
https://twitter.com/dalteco/status/1686878478061404160

Sui Transaction Record
https://twitter.com/Artemis__xyz/status/1686814178085163008

EIP-4844 & Sequencer Margins Report
https://twitter.com/asxn_r/status/1686424557677170688


🤑 DeFi

Curve OTC Updates
https://twitter.com/0xRamenUmai/status/1688044951836499968

GMX v2 Stats
https://twitter.com/gmx_intern/status/1688172458421915650

Logarithm — LPDFi??
https://twitter.com/crypto_linn/status/1688166426056466433

Fluid Protocol — Stablecoin on Fuel
https://twitter.com/Fluid_Protocol/status/1687865854896254976

Trader Joe Launches on Ethereum
https://twitter.com/traderjoe_xyz/status/1687387912306872321


🖼NFTs

Reddit Avatars
https://twitter.com/DefiIgnas/status/1688174067516612608

NFT Volumes
https://twitter.com/beaniemaxi/status/1687909585963630594


📰Full Newsletter:
https://cryptoian.substack.com/p/ians-intel-16

GMX v2 Now Live on Arbitrum & Avax
https://twitter.com/GMX_IO/status/1688201041156718592

🧵 Wtf is GMX v2?
https://twitter.com/Mr_Gorilla_eth/status/1687822702676267008

Interesting theory as to why USDC is losing ground to USDT (Note: Speculation)

https://twitter.com/defi_made_here/status/1688218517617696768

Breaking: PayPal said it will launch a U.S. dollar stablecoin, PayPal USD (PYUSD), issued by Paxos Trust Co. Backed by U.S. dollar deposits, short-term Treasury bills, and cash equivalents. PYUSD will gradually become available to PayPal's U.S.-based customers. BBG

PayPal's $pyUSD has freeze and wipe functions.
https://twitter.com/ChainLinkGod/status/1688683031345917952

Ian's thoughts:
- great step towards mainstream adoption of crypto, likely see more pySTABLES moving forward
- centralized functions are necessary for regulators to approve - USDC, USDT, etc all have centralized functions but is used widely in DeFi
- regulation is inevitable and vital for adoption
- decentralized finance won't die, will see inflow from centralized users as UX gets better

Dune Dashboard tracking $pyUSD
https://dune.com/0xkhmer/paypal-usd

$5M Loan Defaulted on Goldfinch

https://twitter.com/thiccythot_/status/1688718608052948992?s=20

-Source

Mantle Network
Seeing some questions about Mantle so here's some info.

$MNT contract address on Ethereum: 0x3c3a81e81dc49a522a592e7622a7e711c06bf354

Bridges
- bridge.mantle.xyz
- orbiter.finance

OR

Buy MNT on Bybit and send directly to your Mantle address (cheapest route)
- Bybit ref link


Things you can do on Mantle:

Trade & LP
- FusionX: stake LP to earn $RSFX
- Agni
- iZUMi Finance

Lend & Borrow
- Lendle: lend or borrow to earn $LEND rewards
- Reax: lend or borrow to earn $veREAX

Other Protocols
https://defillama.com/chain/Mantle


The above list is for information purposes only and is not an endorsement on my part. NFA, DYOR.

MKR large transactions :
A new smart money token transfer (Etherscan).
🏦 Binance sent 249.083 MKR ($303,822) to 🤓 Spartan Group: Fund

Mode: OP Stack L2

https://www.mode.network/

Update on the chap that burned 2500 ETH

Burned Tokens

Ethereum
- 1 BAYC, 1 MAYC, and 1 BAKC
- 10K APE
- 2500 ETH

Polygon
- 5K W$C

Arbitrum
- 600 GNS
- 35 GMX
- 1.578 ETH

Source