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👀Tether Announces CeDeFi Platform

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GM Defiers!

Tether is looking to compete against DeFi money market protocols with the upcoming launch of its “Tethered assets” platform, Alloy. Users undergoing KYC will be able to create USD stablecoins backed by other digital assets via the platform.

The TON-based “tap-to-earn” game Hamster Kombat claims to host a whopping 150 million users after launching in late March. The game said it surpassed 100 million users faster than Whatsapp, TikTok, and Instagram.

Plus, Base overtakes BNB Chain to rank second by DEX traders, Ronin launches a zkEVM toolkit for Layer 2s, and Coinbase announces “pre-launch” trading for upcoming tokens.

✍️ In today’s newsletter:

  • Tether eyes DeFi’s lunch with Alloy platform
  • Hamster Kombat rockets to 150M users
  • DEX traders on Base jumps to 267,000
  • Ronin aims to foster L2 ecosystem
  • Coinbase to launch pre-launch token markets

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📈 Markets in the last 24 hrs:

TickerValue24h
Bitcoin$66,7820.89
Ethereum$3,632 1.88
Gold 1st Future$2,331 1.36
S&P 5005431.60 -0.04 %
Arch Web32.15 1.82
Learn more about Arch Indices

🎬WATCH

Check out our podcast with Gabby Dizon, the co-founder of Yield Guild Games, to get his take on the future of web3 gaming. And catch up on our interview with Marcos Nunes, the co-founder of Gnosis Pay, to learn about how they are bridging the gap between self-custodial crypto wallets and traditional payment methods.

Plus, watch our video on trading TON-based memecoins!

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Stellar empowers builders to unlock human and economic potential. Explore the new Stellar smart contract platform, Soroban, designed for scale and sensibility.

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zkVerify reduces proof verification costs by over 90% and provides a developer-friendly environment for proof verification across a range of rollups and settlement layers.

zkVerify was developed by Horizen Labs.

🪙Tether Looks To Compete Against DeFi With Upcoming Synthetic Asset Platform

the-defiant

Tether is set to launch Alloy, a “Tethered asset” platform allowing users to create overcollateralized stablecoins against digital assets. On June 17, the company launched aUSDT, a gold-backed USD stablecoin, demonstrating the platform. Alloy is poised to serve as a centralized competitor to DeFi money markets.

🐹Is Hamster Kombat Onboarding the Masses Into DeFi?

Hamster Kombat, a TON-based tap-to-earn game, is rocketing through the GameFi rankings ahead of its token generation event. The project already boasts a user base exceeding 140 million after launching just three months ago. However, not everyone is convinced Hamster Kombat’s numbers are real.

⬆️Base Network Surpasses Binance Chain in Active DEX Users

A spike in activity has propelled Base, the Layer 2 network from Coinbase, to rank second by active DEX traders. Roughly 267,000 wallets traded on Base in 24 hours, overtaking BNB Chain and falling shy of Solana.

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zkVerify is a dedicated zero-knowledge proof verification network designed for settlement optimization, built by Horizen Labs.

zkVerify is uniquely architected as the first modular solution for the settlement layer that collapses security costs by decoupling proof verification from settlement on L1s.

Horizen Labs estimates $47 million was spent on proof verification in 2023 for zkrollups on Ethereum alone, and industry studies anticipate zk proof generation will become a $10 billion market by the year 2030. zkVerify removes the cost and complexity of computationally intensive proof verification for developers building with zkrollups. At the outset, zkVerify can be used to verify proofs on Ethereum and Bitcoin with a 90%+ cost reduction, and will rapidly expand to support multiple blockchain architectures.

READ MORE: WHAT IS ZKVERIFY

🆕Ronin Network Unveils Permissionless zkEVM

Ronin, the Layer 1 network hosting the Axie Infinity and Pixels gaming ecosystems, has launched support for Polygon’s Chain Development Kit. The move allows developers to build bespoke zero-knowledge EVM Layer 2s on top of Ronin.

👨‍⚖️Coinbase Advanced to Offer Pre-Launch Token Trading

The largest U.S.-based centralized exchange announced plans to launch markets for unreleased tokens. Coinbase Advanced users will be able to trade “pre-launch” markets, positioning Coinbase in competition with pioneering on-chain exchanges Whales Market and Hyperliquid.

🌍 ELSEWHERE

  • Hashdex Files 19b-4 For Combined Spot Bitcoin and Ethereum ETF (CoinGape)
  • RWA Tokenization Expands to Life Insurance with Infineo Minting $9M of Policies on Provenance Blockchain (CoinDesk)
  • Ethereum restaking protocol Renzo raises $17 million (The Block)
  • Ethena Updates Tokenomics, Requires ENA Airdrop Recipients to Lock 50% of Tokens (Unchained)

🔥 TRENDING