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

SEI

- Token is listing in 5 days on Tues, 15th Aug 2023, on Binance

Tokenomics
- 10B SEI Max Supply
- Private Investors (20%)
- Team (20%)
- Foundation (9%)
- Ecosystem Reserve (48%)
- Binance Launchpool Allocation (3%)

Full Report


Other Intel
From an OTC broker - at least one private investor is looking to sell their SEI tokens:
- Tranche: "Large Volume"
- Valuation: $1B (Last round valuation - $800M)

FYI, SEI Investors include: Jump Crypto, Distributed Global, Multicoin Capital, Asymmetric Capital Partners, Flow Traders, Hypersphere Ventures, Bixin Ventures, Coinbase Ventures and GSR (Source: 1, 2)