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NFT traders appear to be turning their attention to memecoins. A subsidiary of Societe Generale, one of Europe’s largest banks, has launched a euro-pegged digital asset called EUR CoinVertible. And finally, we delve into the surge in volume on the decentralized derivatives exchange Synthetix, as users trade for the chance to earn Optimism tokens.

Memecoins push Uniswap’s daily user count to 2021 levels while NFT marketplaces lose active traders

Synthetix volume spikes on OP rewards program

Société Générale launches Euro stablecoin

 the founder of Push Protocol, who talks about the intersection of web3 and AI.

 The recent launch of the PEPE token sparked a memecoin fever that’s caught the attention of NFT traders. While Uniswap’s user count has surged to 2021 levels, there’s been a massive drop in the number of active NFT traders on marketplaces like OpenSea and Blur this week.

 This shift in interest could have an impact on an already depressed NFT market, as more attention and capital flows into the memecoin space.

is a subgraph hosting platform that helps dApps ship faster with 99.9% uptime, 2x+ faster indexing, and more. Decentraland, Aragon, and GMX are happy users. 

 is a structured asset management protocol that offers liquid staking on both Ethereum and Binance Smart Chain. Liquid staking allows users to earn staking rewards while their assets remain liquid, which they can use in other DeFi investments.

Tranchess mints liquid tokens equivalent to the amount of staked ETH or BNB (qETH or nQueen) and receives rewards as proxy validators. The NAV of these tokens increases with the value of the staked asset, including the yields from staking. Liquidity pools provided by both Tranchess and partners allows users to trade their liquid tokens for the staked asset with ease.

 is unique in offering a tranche mechanism that allows users to split their liquid tokens into BISHOP and ROOK tokens. The ROOK token represents a high-risk, high-return strategy where users can take leveraged long positions on ETH, BNB, and BTC, whilst BISHOP represents a market neutral or stable coin like structure. Tranchess uses a combination of its Rebalance model and Time-Weighted Average Price (TWAP) to minimize any market risk to its ecosystem.

 is a DeFi protocol that provides a differential layer of financial products and services by offering risk tranche options for investors with different risk levels. Tranchess’ novel tranche twists, QUEEN, ROOK and BISHOP, are unavailable on other liquid staking platforms.

Synthetix Volume Surges on Optimism Incentive Program

 Synthetix’s trading volume increased significantly after it started distributing Optimism tokens to incentivize trading, resulting in a surge in average 7-day volume and fees. The program will distribute more than 5.3 million OP tokens, worth around $12.8 million, over 20 weeks.

 The increase in trading volume on Synthetix could indicate renewed interest in decentralized derivatives exchanges. Governance tokens of perpetuals protocols like SNX and dYdX have outperformed BTC and ETH in the past week.

Société Générale Launches Euro Stablecoin

 SG-Forge, a subsidiary of Societe Generale, has launched a euro-pegged stablecoin called EUR CoinVertible (EURCV), targeting institutional clients. The stablecoin is backed by cash and liquid securities and aims to offer benefits such as increased speed and transparency of property transfers, minimized settlement, credit, and counterparty risks, and connection with DeFi.

 The launch of EURCV by a major financial institution signals a significant effort to embrace blockchain technology, despite the ongoing crypto bear market. SG-Forge sees tokenization as the next big step towards the building of digital capital markets, following the shift from paper-based securities to digital ones in the 1980s.

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NFT traders appear to be turning their attention to memecoins. A subsidiary of Societe Generale, one of Europe’s largest banks, has launched a euro-pegged digital asset called EUR CoinVertible. And finally, we delve into the surge in volume on...

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