Loading...
🏦Aave Launches GHO Stablecoin
The Defiant Daily
Together with
GM Defiers!
We kick off with Aave's launch of its GHO stablecoin on Ethereum, aiming to reshape DeFi lending and provide more competitive borrowing options. We then explore Polygon Labs' overhaul of the MATIC token to a 'hyperproductive' POL token.
Shifting gears, we delve into the launch of Coinbase's eagerly-awaited Layer 2 network, Base. And finally, we turn our attention to Arkham Intelligence's incentive program that's stirring debate in the crypto community about the fine line between blockchain transparency and privacy.
✍️ In today’s newsletter:
- Aave launches GHO on mainnet
- Polygon unveils POL token to replace MATIC
- Base opens mainnet to developers ahead of public launch
- Arkham Intelligence sparks criticism over unmasking program
📈 Markets in last 24 hrs:
| Ticker | Value | 24h |
|---|---|---|
| BTC | $30,249 | ↙ -0.15% |
| ETH | $1,924 | ↙ -0.41% |
| S&P 500 | 4,505 | ↙ -0.11% |
| GOLD | $1,960 | ↗ 0.05% |
| Arch WEB3 | 0.91pts | ↙ -1.27% |
| ↳ FINANCE | 0.98pts | ↙ -0.57% |
| ↳ INFRA | 0.79pts | ↙ -2.36% |
| ↳ CONSUMER | 1.09pts | ↙ -1.81% |
Learn more about Arch Indices here.
🎬 WATCH
Watch our video on how crypto security is evolving in 2023. And check out our podcast with Nicolas Liochon, Global Lead for Linea, which is a new zkEVM rollup by Consensys.
THANKING OUR NEWSLETTER SPONSORS
| Newsletter continues below |
Welcome to a new era of Ethereum scalability. Build faster, more user-friendly Ethereum dapps with Linea's developer-ready zkEVM rollup. Explore 100s of partner creations and start your own journey today at linea.build
‘Bumper’ your assets to defend them from price drops without losing upside exposure. Smarter than a stop loss, cheaper than options, protocol going live in August.
Stader's ETHx is now live on mainnet. Designed to keep Ethereum decentralized by being accessible, reliable and rewarding. Stake now and PowerUp your ETH with ETHx.
DeFi
Aave Launches GHO Stablecoin On Ethereum Mainnet
TLDR Aave, a leading DeFi lending protocol, has launched its native GHO stablecoin on Ethereum. Users can mint GHO against deposited assets at a 1.5% fixed interest rate. The Aave DAO treasury will receive all fees generated from GHO.
SO WHAT This represents a significant step for Aave and the broader DeFi ecosystem. It introduces another decentralized stablecoin alternative to existing centralized options that have recently seen their reliability questioned.
SPONSORED POST
Ledgible makes digital assets, legible. The Ledgible Digital Asset Tax and Accounting Platform is built from the ground up to streamline digital asset accounting operations for investors, institutions, and enterprises. Ledgible enables companies to account for and manage digital asset data at scale. As a SOC 1 & 2 Type 2 Certified platform, Ledgible is the trusted provider of choice for large banks, fintech providers, and digital asset and tokenization native companies.
Ledgible operates in 4 key verticals – Tax Information Reporting (1099s), Digital Asset Data, Accounting, and Tax filing. The underlying technology of Ledgible allows native customization to fit the needs of any given project within the digital asset data scope.
Their recently unveiled NFT Suite is the first full-service NFT portfolio management and accounting solution for the space. The platform also offers native DeFi support and integration, meaning that connecting any digital assets you hold or trade is seamless.
You can follow Ledgible on Twitter here, or learn more about the platform and what it can offer you, here. Signing up to utilize the platform is completely free.
Ethereum Scaling
Polygon Introduces New POL Token to Replace MATIC
TLDR Polygon has announced a revamp of its MATIC token, rebranding it as POL, touted as a "hyperproductive" token, allowing holders to validate transactions across multiple blockchains and earn fees from each one. Current MATIC holders will be able to exchange their tokens for POL on a one-to-one basis.
SO WHAT The update is part of Polygon's broader efforts to transition from isolated blockchains to an interconnected ecosystem, which could improve scalability and interoperability.
Layer 2
Base Opens Up To Developers Ahead Of August Mainnet Launch
TLDR Coinbase has opened its Layer 2 network, Base, for developers to begin working with their code ahead of a public launch scheduled for early August. Developers who deploy code on Base before the public launch will receive a non-transferable "Genesis Builder" NFT.
SO WHAT The Layer 2 space continues to heat up with increased competition to scale Ethereum. Coinbase's entrance into this race is a strong endorsement for the technology and could potentially drive wider adoption and innovation.
Web3
Backlash Over Arkham’s Intelligence Platform Highlights Blockchains’ Double-Edged Sword
TLDR Arkham Intelligence, a data analytics firm, announced an incentive program to reward researchers for providing data on crypto addresses and transactions. Some community members interpret this as an attempt to "snitch" on each other, with concerns over privacy and association with US government agencies. However, Arkham's CEO, Miguel Morel, insists that the platform prohibits the sharing of private data and serves to protect good actors in the ecosystem.
SO WHAT The program opens a debate on the balance between transparency and privacy in the blockchain ecosystem. While it can help track and reveal malicious activity, it may also raise concerns about invasion of privacy for good actors. The impact of such programs on the crypto community will depend largely on their implementation, and the measures taken to protect users' privacy and ensure the public interest.
