[IanGPT] The Solana DeFi Comeback
by FA2

Q3 Key Highlights:
• TVL Growth: TVL in Solana's DeFi increased by 21%, from $2.68B to $3.27B.
• Daily Active Wallets: Consistent engagement with 230K-350K daily active wallets.
• Trading Volumes: Ranged between $15M and $162M, excluding major players like Zeta Markets and Phoenix.

Notable Events:
• MakerDAO NewChain Announcement: To use Solana's Virtual Machine (SVM).
• Media Coverage: CNBC favored Solana over Bitcoin Cash and Litecoin.
• Maple Finance: Returned to the Solana ecosystem.
• EuroeMoney: Made a splashy entrance into Solana.

Protocol Developments:
• Zeta Markets: New V2 upgrade and USDC margined perpetual trading.
• Drift: 50% increase in TVL and MetaMask integration planned.
• Cypher: Focusing on security after a vulnerability, planning an IDO.

LSDs:
• Sanctum: Built a reserve of over 200,000 SOL, NFT partnerships in talks.
• Marinade: TVL reached $146.01M, new incentives planned for Q4.
• JitoSol: 100% increase in TVL, exploring new token launch.
• SolBlaze: 10x increase in TVL, launched new native token $BLZE.

Lending & Borrowing:
• MarginFi: 10x growth in TVL to $23.82M; plans for a stableswap platform and stablecoin in Q4.
• Solend: 50% increase in TVL to $54.23M; introducing support for LSTs and RWA-based pools in Q4.
• Kamino Finance: Over $1 billion in trading volume & $1.25 million in fees for depositors; Kamino 2.0 with additional features slated for Q4.

Q4 Outlook:
• Bullish, with various incentives and improved user experience expected to drive growth.

Source

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[IanGPT] Information on Grab SG's Web3 Feature

• No official announcements yet from what I can see. Did some digging and Grab (SG) recently added ToS for their Web3 Wallet (7th Sep 2023) which provides more detail as below.

• The Web3 Wallet allows users to "store, send, receive, transfer, track, and manage digital assets and tokens...created on a blockchain".

• Each wallet is a multisig secured by four private key shares distributed to Company (1), Third Party Partner (1), and the User (1 wallet pin & 1 set of secret recovery phrases in the form of Q&As)

• 3/4 Keys are required in order to send, transfer, or receive supported tokens — this means that neither the company nor the third party will be able to collude to control the user's wallet or assets, but they can limit the user & its services as below...

• Grab reserves the rights to limit, restrict, or impose other conditions to users' access to and use of the wallet, such as to:
— impose and change deposit, withdrawal, storage, or transfer limits of the Web3 Wallet
— change, suspend, or discontinue any aspect of the Web3 service without notice or liability
— delay, suspend, or reject any txn if suspected of fraud or misconduct
— block certain blockchain addresses in its sole discretion if determined to be associated with illegal activity
— report and take action against any user linked to blocked addresses

• Users may be required to go through KYC and AML processes.

• Users shall be subject to all prevailing tax regulations, and their Web3 Wallet and transactions may be forwarded to both local (SG) and overseas tax authorities upon request.

• No indication as to which blockchains or assets will be supported.

Source

[@iansintel]

Coinbase and Aave Form Coalition to Promote Tokenized Assets

• Members include Aave, Centrifuge, Circle, Coinbase, Credix, Goldfinch, and Base

Links
News Article
Press Release
TAC Site

[Ian GPT] CFTC fines Opyn, 0x Protocol, and Deridex for offering "illegal derivatives trading”

• Opyn, 0x, and Deridex to pay fines of $250k, $200k, and $100k respectively after cooperating and receiving reduced charges.

• “Deridex and Opyn are charged with failing to register as a swap execution facility (SEF) or designated contract market (DCM), and failing to register as a futures commission merchant (FCM)”.

• Opyn also failed to adopt a customer identification program (KYC) as part of a Bank Secrecy Act compliance program, as required of FCMs.

• The order clearly states that geoblocking users is not enough of a measure.

• “0x Protocol, Opyn and Deridex are also charged with illegally offering leveraged and margined retail commodity transactions in digital assets”.

• In the case of 0x & Matcha, they were at fault for allowing users to trade tokens “developed and issued by a third party unaffiliated with 0x that provided traders approximately 2:1 leveraged exposure to digital assets such as ether and bitcoin”.

• Statement from 0x Protocol & Matcha that both continue to “operate with no problem”.

• No statement from Opyn yet.

• Deridex shutdown on 9 Feb, 2023

CFTC Press Release

Slowmist: Crypto professionals please update your Apple products. The Pegasus group is using iMessage accounts to send PassKit attachments of malicious images to victims to trigger attacks. The exploit chain has now been made public. Apple has urgently released an update patch. — link

Friend Tech Stats - 9/9/23

https://x.com/cryptoian/status/1700442723973750909

Banana Gun Token Launch Details

- $BANANA will have a circulating supply of 2.4M at launch, with a B/S tax of 4%/4%
- Liquidity will be seeded for a $1.56M starting market cap at a price of $0.65 at launch (presale price)
- BANANA-USD Perps market on Aevo trading at ~$7
- With total supply of 10M tokens, market is valuing $BANANA at $70M FDV

- Token will launch "early next week".

Aevo Ref Link
Tokenomics

Vitalik’s Twitter Account Hacked

- attacker managed to steal ~$700k from users who clicked on the phishing link
- account access has been restored

https://x.com/officer_cia/status/1700663821558325464

*edit: $700k, not $700m

RE: FTX asset liquidations.

Reminder that most of the $SOL is on a vesting schedule until ~2027.

See: https://news.1rj.ru/str/iansintel/513

FTX files for recovery against Layer Zero and its senior employee.

- Layer Zero: $21M
- Ari Litan: $13M
- Skip & Goose: $6.5M

h/t: sunil_trades
official docs: https://restructuring.ra.kroll.com/FTX/Home-DocketInfo

Could this affect ZRO launch? 🤔

[IanGPT] CEO of Layer Zero Responds to FTX Suit

• CEO labels FTX lawsuit as "unsubstantiated," cites year-long ignored communication on share ownership.
• Refutes preferential withdrawal claims; notes personal deposits of millions before FTX's bankruptcy.
• Withdrawals mostly for standard gas rebalancing between L1 currencies.
• Criticizes FTX's "outrageous" gross withdrawal-based accounting.
• Tried to repurchase STG tokens; claims FTX counsel lacks basic blockchain knowledge.
• Condemns FTX's "mudslinging," eager to settle in court.

Source

DOT Token Unlock Alert

- according to parachains.info, ~100M DOT (~$400M) is scheduled to be unlocked on Oct 24, 2023
- DOT is trading at ~$4 as of the time of writing, -84% down since the tokens were locked in Dec 2021

https://twitter.com/_FabianHD/status/1701064554338226468

ZachXBT Donation Refund Claims is Live

https://twitter.com/zachxbt/status/1701232146159931730
https://twitter.com/0xCygaar/status/1701236162340262285