⚖️Polygon To Explore Community Governance In 2.0 Overhaul
Today, we look Polygon Labs announcing it will explore community governance as part of its Polygon 2.0 roadmap. The announcement was a last in a series of posts describing the team's vision for the new Polygon ecosystem.
We also explore the newly-launch v2 iteration of Lens, the hyped decentralized social media protocol from Aave. Lens v2 focuses on providing new features for developers, including advanced smart contract execution and profiles attached to NFTs.
And lastly, we look at the impressive performance of DeFi tokens over the past week. DeFi assets account for seven of the ten best-performing top 100 cryptocurrencies from the past week.
✍️ In today’s newsletter:
- Polygon proposes pathway towards community governance
- Lens v2 launches new features for devs
- DeFi tokens outshine broader crypto markets
📈 Markets in last 24 hrs:
|S&P 500||$4,556||↗ 0.24%|
|Arch WEB3||0.90pts||↗ +0.36%|
|↳ FINANCE||0.97pts||↗ 108%|
|↳ INFRA||0.80pts||↙ -0.13%|
|↳ CONSUMER||1.09pts||↗ 0.9%|
Learn more about Arch Indices here.
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.
Polygon Proposes Revamped Governance Model For 2.0 Roadmap
TLDR Polygon Labs has proposed new governance mechanisms for its forthcoming Polygon 2.0 overhaul. The post outlines Polygon's core protocol, system smart contracts, and community treasury as critical governance processes.
SO WHAT Polygon is embarking on a drastic makeover to stay at the forefront of Ethereum scalability. The project plans to unify its $1B TVL PoS Chain with its freshly-launch Layer 2 ZkEVM, and will replace its long-standing MATIC token with a new asset called POL.
Stader Labs is a non-custodial, multichain liquid staking platform. With a presence on 6 chains—including Polygon, BNB, Hedera—they’ve recently expanded to their 7th chain, Ethereum.
ETHx, Stader’s liquid staking token, is designed to keep Ethereum decentralized while being accessible, reliable and rewarding.
ETHx smart contracts are triple-audited by leading blockchain security providers Sigma Prime, Halborn and Code4rena.
With exciting rewards for early stakers, ETHx clocked in a TVL of ~$13M in the first 72 hours of launch.
They’re offering stakers:
- 1.5x staking rewards for the first 30 days
- $800k in upcoming LP rewards for the first 90 days
- Additional exclusive rewards for DAOs and communities
- 100% staking boost for ETHx email subscribers
If that’s not enough, here’s some alpha for you: ETHx DeFi with Balancer went live just today!
With the ETHx / Aave Boosted ETH liquidity pool, unlock benefits of both ETHx and Aave lending market in one power-packed pool! Currently, ~10-25% rewards are up for grabs.
Additionally, Stader has partnered with OKX Wallet to launch a Boosted Rewards Program. Get 6-8% additional rewards on your ETHx.
Get in early. PowerUp your ETH with ETHx.
Lens Doubles Down On Developer-First Focus With v2 Iteration
TLDR Lens, the highly-anticipated decentralized social media protocol from Aave, launched its v2 iteration. The updated protocol provides advanced features to developers, such as allowing smart contract interactions with external protocols from within Lens.
SO WHAT Lens promises to deliver a web3-native social media experience defined by permissionlessness and composability. The new smart contract features allow users to offer DeFi experiences from within Lens.
DeFi Assets Consolidate Gains As Market Cools
TLDR DeFi tokens make up more than half of the week's top 10 performing assets. The rally comes after the SEC suffered a blow in its crusade against crypto assets, with a U.S. judge ruling that Ripple's XRP is not a security, even if the token was sold via a securities contract.
SO WHAT DeFi assets were among web3 asset classes hardest hit by the 2022 downtrend, when the collapse of the Terra ecosystem and failure of prominent VC Three Arrows Capital rocked the sector. However, with regulatory risk appearing to subside and Ethereum's Layer 2 ecosystem flourishing, DeFi tokens appear poised for a comeback.