Weekly Recap: Solana Community Rejects Tokenomics Overhaul

Happy weekend Defiers!

Bitcoin plunged as low as $77,000 on Monday before rebounding above $84,000 to end the week. Increased volatility continues to be driven by macroeconomic concerns, primarily President Trump’s tariff policies.

The Solana community rejected a closely-contested governance proposal to change SOL emissions from a fixed schedule to a dynamic, staking-based model.

On the regulatory front, the CBOE has asked the SEC to allow staking for Ethereum ETFs, which could set a precedent for other exchange-traded funds.

Plus, Hyperliquid tweaks its margin mechanism after a $4M loss, DeFi TVL drops sharply, Coinbase delists some memecoins in NY, and Aave unveils an institutional platform.

Also, don’t forget to check out our interviews with Max Luck, Head of Growth at Flare Networks, Juan Benet, Founder of Protocol Labs, Sami Start, Co-Founder and CEO of Transak, and Yaniv Tal, Founder of The Graph.

Enjoy!

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PODCAST & INTERVIEWS

Flare Network: Full-stack (EVM compatible) L1 for data-intensive use cases | Max Luck Interview

Max Luck, Head of Growth at Flare Networks, discusses the layer-one EVM blockchain's focus on providing high-integrity data to builders through its enshrined oracles. He explains how Flare's secure bridging infrastructure and interoperability solutions are designed to connect non-smart contract chains like XRP, Dogecoin, and Bitcoin to the DeFi ecosystem.

Protocol Labs Founder Juan Benet on Decentralizing the Internet with IPFS & Filecoin

Juan Benet, Founder of Protocol Labs, discusses the importance of a decentralized internet and how Protocol Labs is working to achieve this through various open-source projects, most notably IPFS and Filecoin. He emphasizes the role of these technologies in creating a more secure, censorship-resistant, and efficient internet experience.

Sami Start on How Transak Simplifies Global Crypto Onramps | ETH Denver 2025

We spoke with Sami Start, Co-Founder and CEO of Transak, the gateway to Web3 that streamlines onboarding for hundreds of networks and dApps across the crypto landscape. Active in more than 160 countries, Transak offers straightforward fiat-to-crypto and crypto-to-fiat solutions, enhancing the real-world utility of digital assets.

The Graph's Yaniv Tal on GRC 20 and the Future of Web3 | ETH Denver 2025

Yaniv Tal, Founder of The Graph, joins us at ETH Denver 2025 to discuss the evolution of Web3 and the importance of composability for building a truly decentralized internet. He explains how The Graph's new Knowledge Graph standard, GRC 20, will enable developers to better organize and share information.

Friday

• Ethereum ERC20 Tokens Are Now More Valuable than ETH The Ethereum network secures just over $500 billion of value, with 51% allocated to ERC20 tokens and 46% to ETH.
• Solana Community Rejects SIMD-228 Proposal to Reduce Token Emissions Proposal authors call the defeat a “victory” regardless of the outcome.
• Institutions are Top Blasting and Bottom Selling Bitcoin Just Like Us Data shows that major ETF outflows have often marked local bottoms.
• Activity on Hamster Kombat’s Layer 2 Network Plummets 99% From 150 million transactions on its Feb. 25 launch date, the Hamster Network has dropped to just 38,400.
• Hyperliquid Overhauls Margin Mechanism After $4 Million Loss HYPE is down 40% in the last month, with another $90 million in the unstaking queue.
• Bitcoin Rallies Above $84,000 as Crypto Market Rebounds ETH and XRP gained 3%, while SOL surged 7%.

Thursday

• DeFi TVL Drops $50B, Wiping Out Gains from Cycle Highs Ethereum leads the decline as DeFi pulls back despite Bitcoin’s record high.
• Gauntlet Accused of Self-Dealing in Compound Proposal Aavechan founder Marc Zeller comes out swinging against the Compound DAO’s recently passed proposal to launch Morpho-powered lending vaults on Polygon.
• Aave Leads DeFi Lending in February as GHO Supply Doubles The protocol continued to dominate DeFi lending revenue in February and expand its stablecoin footprint.
• Coinbase Suspends Memecoins in NY as Prices Tank Coinbase appears to be implementing a last-in first-out strategy by delisting some of the memecoins it added in January.
• Crypto Market Dips for Second Day as U.S. Wholesale Inflation Cools Bitcoin dropped to $80K as macroeconomic data signals easing inflation.
• Aave Labs Unveils Horizon to Bridge Institutional Capital and DeFi The new initiative aims to unlock stablecoin liquidity by leveraging tokenized RWAs.

Wednesday

• Abu Dhabi Firm Invests $2 Billion in Binance via Stablecoins The investment marks the first institutional funding for Binance.
• Crypto Market Stalls as Inflation Data Eases Investor Jitters Lower-than-expected US inflation figures offered some relief, but macroeconomic concerns persist.
• Crypto Funding Struggles to Reclaim Last Cycle’s Highs Venture capitalists are steering clear of crypto this cycle despite the newly friendly regulatory environment.
• Whale’s Nine Figure ETH Liquidation Costs Hyperliquid $4 Million The massive liquidation sparked concerns over market manipulation and the decentralized exchange’s liquidity and risk management.
• Ethereum Exchange Outflows Hit $1.8B Last Week ETH recorded the biggest outflow from exchanges since 2022.
• Stablecoin Market Cap Hits New All-Time High of $234.8 Billion Competition is growing as stablecoins undergo a renaissance in connecting with traditional finance.

Tuesday

• Cboe Proposes Adding Staking to Ethereum ETFs The move could set a precedent for other ETFs to follow.
• Bitcoin Rebounds Above $82,000 But Altcoins Lag Behind Escalating trade tensions and inflation concerns fueled a sell-off triggering $731 million in liquidations.
• Stablecoin Wars Heat Up Ahead of Trump Administration’s Legislation The competition surrounding one of crypto’s best use cases is ramping up as USDC growth outpaces USDT.
• Crypto Bears Take Control As Investors Hedge Against Bitcoin Falling Below $75,000 Open interest in the options market shows traders eye $75,000 and $70,000 as key levels.
• Uniswap Incentive Program Powers Unichain to 22,000% Spike in Active Addresses A $45 million liquidity incentive proposal is likely driving the increased activity on the Ethereum Layer 2 network.
• Bitcoin-Based Taproot Wizards Mint Starts on March 25 The mint will cost 0.2 BTC, or $16,000, for “top supporters.”
• Crypto Funds Lose $876 Million in Fourth Consecutive Week of Outflows Bitcoin ETPs led the decline amid bearish investor sentiment.
• Crypto Market Tanked 20% in February, Pummeled by Bybit Hack, LIBRA Debacle: Binance Research Bitcoin dropped 16%, its largest monthly decline since the FTX collapse in 2022.

Monday

• Bitcoin Drops to $79,000 as Inflation Worries Mount Liquidations surpass $667 million as macroeconomic uncertainty fuels a sell-off across global markets.
• Solana Revenue Crashes 90% From January Highs The chain’s revenue has taken a huge hit following the memecoin cycle’s cooldown.
• Attacker Stymies Ethereum’s Pectra Upgrade on Sepolia Testnet An attacker triggered empty blocks, causing Ethereum developers to scramble for a solution.
• PancakeSwap Achieves Highest Monthly Trading Volumes Since 2021 BNB Chain’s leading decentralized exchange has also surpassed $1 trillion in cumulative trading volume.
• Movement Launches Public Mainnet Beta, Bringing Move Language to Ethereum Layer 2s Movement says Move is a more modern and safer smart contracts language.
• BTC Drops as U.S. Strategic Bitcoin Reserve Disappoints Traders While most of the crypto community celebrated the landmark news, crypto markets sold off after it was revealed that the U.S. would not be buying Bitcoin.
• Solana Leadership Remains Divided Over Token Inflation Proposal SIMD-0228 proposes to update Solana’s fixed inflation mechanism to a dynamic, market-driven model.

TRENDING

• Ethereum ERC20 Tokens Are Now More Valuable than ETH
• Solana Community Rejects SIMD-228 Proposal to Reduce Token Emissions
• Institutions are Top Blasting and Bottom Selling Bitcoin Just Like Us
• Hyperliquid Overhauls Margin Mechanism After $4 Million Loss
• Bitcoin Rallies Above $84,000 as Crypto Market Rebounds
• DeFi TVL Drops $50B, Wiping Out Gains from Cycle Highs