🚀Solana Posts Record Monthly Performance

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TLDR Solana's impressive rally continues, with the network's native SOL token up nearly 150% since October began. The network also hosted a record volume of DEX trades, with $5.1B worth of swaps executed on the network in November alone.

SO WHAT Solana's recovery follows a violent downtrend, with the SOL token remaining down 78% from its all-time high despite the recent rally. The impressive performance can be attributed to Solana's robust developer community, which continued to build in spite of Solana's underperformance following the collapse of its major investor, FTX.

READ MORE: Solana is Having its Best Month Ever

TLDR MyLugano, the payments app launched by the Swiss city of Lugano, tapped Polygon to provide the tech underpinning its application. Users can now buy, sell, and send crypto, explore Polygon-based dApps, and soon mint NFTs using the Polygon-powered application.

SO WHAT MyLugano is an impressive example of municipal government adopting. Lugano said it aims to allow citizens to pay taxes, parking fines, and public services via the app in the future. MyLugano recognized Bitcoin, Tether, and its LVGA stablecoin as legal tender last year.

Read More: Swiss City of Lugano Embraces Crypto With Polygon Integration

TLDR Curve's community is voting on whether to hike crvUSD interest rates in a bid to restore the stablecoin's peg. The move is intended to push up the market value of crvUSD, which has trended toward $0.99 throughout November.

SO WHAT CrvUSD's underperformance comes as competition within the decentralized stablecoin sector is heating up, with decentralization devotees increasingly exiting MakerDAO's DAI stablecoin, the LST-backed mkUSD shaking up the decentralized stable token landscape.

Read More: CrvUSD Proposal Aims to Increase Rates and Restore $1 Peg

TLDR Circle has launched a token standard allowing EVM-compatible chains to permissionlessly bridge the USDC and EURC stablecoins onto their networks. The standard has already been adopted by Linea and Scroll among other Layer 2s.

SO WHAT The launch comes as Circle is looking to reverse the long-term decline in USDC's market cap by expanding onto new networks. USDC is now natively deployed on 15 networks following a flurry of integrations over the past few months, up from eight 12 months.

Read More: Circle Launches Bridged USDC Contract For EVM Chains

TLDR The KyberSwap decentralized exchange was hit by an exploit resulting in a $48M loss. KyberSwap urged users to withdraw their funds as soon as possible.

SO WHAT The incident comprises the second major vulnerability to disrupt by KyberSwap this year, with the latest hack resulting in a more than 90% TVL drawdown in a single day. The protocol also lost three-quarters of its value in April after urging liquidty providers to withdraw their assets after identifying a possible exploit.

Read More: KyberSwap Dex Hacked for $48M

• Grayscale reportedly files new ETF application
• Fantom transaction fees skyrocket amid launch of FRC-20 standard
• Movement leverages Celstia for Move-based Layer 2

• South Korea to Pilot CBDC With 100K Citizens in 2024 (CoinDesk)
• UK Launches Digital Securities Sandbox for Financial Growth (CoinGape)
• User claims $11M in Blur token rewards at NFT marketplace’s season 2 airdrop (Cointelegraph)