Cosmos releases new whitepaper for ATOM 2.0. Polkadot announces a new roadmap. Boba Network becomes the first L2 solution on Avalanche.
Weekly DeFi Index
This week’s market cap and volume indices were positive at +7.15% and +1.69%, respectively, while the volatility index was negative at -26.26%.
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DeFi Index Tokens
News Highlight
- Cosmos Hub released the new white paper for ATOM 2.0. It outlines a revamped role for Cosmos Hub as the heart of interchain security and proposes changes to the utility and issuance schedule to accrue value for ATOM, the native token of the Cosmos network.
- Polkadot announced a new roadmap, including the asynchronous backing optimisation that aims to increase transaction speed. The upgrade will decrease the parachain block time by a half to six seconds, and increase the amount of block space available to each block by a factor of 5 to 10. It’s expected to increase the network’s performance to between 100,000 and 1,000,000 transactions per second (TPS) from the current 1,000 TPS.
- Layer-2 scaling solution Boba Network has expanded its support to Avalanche. Boba Network became the first L2 solution on Avalanche to help scale on C-Chain — Avalanche’s main smart contract platform that offers compatibility with the Ethereum Virtual Machine.
DEX Protocols Metrics
Lending Protocols Metrics
Charts on Layer-2 Projects
- The overall L2 market was relatively stable last week as its TVL dropped slightly by -0.38%. Optimistic rollup projects maintained the same level as last week at around 3.98B TVL (+0.08%) and zero-knowledge rollups decreased by -5.21%. Ethereum’s TVL grew by +2.90%.
- The TVL change for major optimistic rollup projects was a mixed bag. Metis Andromeda saw the greatest increase at +2.52% after last week’s drop, while Boba Network fell most by -2.76%.
- ZK rollup projects’ TVL movement was also mixed. ZKSpace’s TVL surged the most at +45.65% after its plunge (-35.87%) last week, while dYdX plummeted the most at -10.52%.
Further Reading
- Developer consensus supports Ethereum withdrawals in upcoming Shanghai upgrade
- Ethereum token issuance plummets 95% following merge
- Cross-chain bridge Wormhole, oracle Pyth deployed on Aptos
- Cardano’s Vasil hard fork is live
- Zilliqa launches web3 gaming console with in-built miner and crypto wallet
- Sweat Economy (SWEAT) goes live on Near Protocol
- Helium ditches own blockchain in favor of Solana after community vote
- Decentralised exchange Bancor proposes burning 1m BNT tokens to support prices
- Microsoft, Avalanche, Polygon join $20M funding of Web3 automation startup
- DeFi bug bounty platform Immunefi raises $24M in series A
- Wintermute offers bounty for $160m DeFi hack
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