🔓DYDX Rallies Despite Enormous Looming Unlock

GM Defiers!

DYDX has surged 60% in one week following the launch of dYdX's Cosmos-based appchain. However, the rally comes as tokenholders brace for DYDX's circulating supply to increase by 82% alongside a massive unlock event on Dec. 1.

The DeFi sector has been on fire recently, with volume on decentralized exchanges tagging an eight-month high. The market cap of DeFi tokens also reached its highest level since May, while Aave v3 posted a record high for daily borrowing activity,

Vitalik Buterin believes Plasma-based scaling solutions could make a comeback advocating for their use in EVM validiums. However, many Ethereans believe Plasma's functionality has been superseded by Layer 2 rollups.

And Spark Protocol, MakerDAO's lending protocol and first subDAO, has crossed $1B in TVL. The protocol is set to double its debt limit to $800M, likely driving further growth for Spark.

✍️ In today’s newsletter:

• DYDX rallies ahead of unlock
• DeFi sector celebrates multi-month highs
• Vitalik vouches for Plasma scaling
• Spark Protocol pushes past $1B TVL

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