Ethereum

Chainlink

USDC

Cosmos

Frax

CANTO

<a href="https://coinmarketcap.com/academy/glossary/stablecoin">Stablecoin</a> protocol, <a href="https://coinmarketcap.com/currencies/frax-share/">Frax Finance</a> releases the documentation for their next phase, Frax V3, while <a href="https://coinmarketcap.com/currencies/cream-finance/">Cream Finance</a> and <a href="https://coinmarketcap.com/currencies/manifold-finance/">Manifold Finance</a> announce the latest token in the <a href="https://coinmarketcap.com/currencies/ethereum/">ETH</a> <a href="https://coinmarketcap.com/academy/glossary/liquid-staking-derivatives">liquid staking derivative</a> space, mevETH. Finally, the popular stablecoin, <a href="https://coinmarketcap.com/currencies/usd-coin/">USDC</a>, arrives on <a href="https://coinmarketcap.com/currencies/cosmos/">Cosmos</a>’ Noble testnet, with plans to hit the <a href="https://coinmarketcap.com/academy/glossary/mainnet">mainnet</a> soon.Big week for <a href="https://coinmarketcap.com/alexandria/glossary/defi">DeFi</a>! Let’s dive deeper into what went down in DeFi this past week.<h2 id="header-0">Overview</h2><a href="https://coinmarketcap.com/academy/glossary/total-value-locked-tvl">Total value locked</a> (TVL) across all chains retraced the pump from the VanEck ETH Futures ETF launch as dismal volumes show after a week of trading. Notable exceptions include <a href="https://coinmarketcap.com/currencies/bnb/">Binance Smart Chain</a> <a href="https://coinmarketcap.com/academy/glossary/layer-2">L2</a>, <a href="https://coinmarketcap.com/academy/article/what-is-opbnb">opBNB</a> and Cosmos chain, <a href="https://coinmarketcap.com/currencies/canto/">Canto</a>, which both saw increases in the 20-30% range.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/395bc71dd61a49baae9e96ffa90d3d14.png"/>Source: https://coinmarketcap.com/chain-ranking/<h2 id="header-1">Welcome to Alpha Central</h2>Aylo gives us an overview of the latest updates on the <a href="https://coinmarketcap.com/currencies/chainlink/">Chainlink</a> roadmap, the “verifiable web” and where Chainlink is headed, from the recent SmartCon 2023.<tweet-embed url="https://twitter.com/alpha_pls/status/1709662861469847722"></tweet-embed>Jing Ling dives deep into the architecture and unique characteristics of Monad, an <a href="https://coinmarketcap.com/academy/glossary/ethereum-virtual-machine-evm">Ethereum Virtual Machine</a> (EVM) compatible <a href="https://coinmarketcap.com/academy/glossary/layer-1-blockchain">L1</a> blockchain, which alleges a 10K <a href="https://coinmarketcap.com/academy/glossary/transactions-per-second">TPS</a> through parallel processing.<tweet-embed url="https://twitter.com/jinglingcookies/status/1709584361623011341"></tweet-embed>Mippo discusses the topics of enshrinement in Ethereum and the Cosmos, its risks and how it will likely happen regardless of what the <a href="https://www.google.com/search?q=decentralized+coinmarketcap&amp;oq=decentralized&amp;gs_lcrp=EgZjaHJvbWUqBggBEEUYOzIGCAAQRRg5MgYIARBFGDsyBggCEEUYPDIGCAMQRRg8MgYIBBBFGDzSAQgzNDIxajBqMagCALACAA&amp;sourceid=chrome&amp;ie=UTF-8">decentralization</a> maximalists think about it.<tweet-embed url="https://twitter.com/MikeIppolito_/status/1709908635441086838"></tweet-embed><h2 id="header-2">Ethereum: Frax V3 Incoming</h2>DeFi suite, Frax Finance, releases the highly anticipated documentation for Frax V3, the latest leg of the Frax roadmap, which incorporates bonds, <a href="https://coinmarketcap.com/academy/article/real-world-assets-rwa-bridging-the-gap-between-defi-and-tradfi">real-world assets</a> and <a href="https://coinmarketcap.com/academy/glossary/staking">staked</a> <a href="https://coinmarketcap.com/currencies/frax/">FRAX</a> into the protocol.<tweet-embed url="https://twitter.com/FlywheelDeFi/status/1710032428272910707"></tweet-embed><a href="https://coinmarketcap.com/academy/glossary/money-market">Money market platform</a>, Cream Finance, and Ethereum infrastructure protocol, Manifold Finance, release MEV Protocol, a new ETH staking service designed to maximize returns from <a href="https://coinmarketcap.com/academy/glossary/miner-extractable-value-mev">maximal extractable value</a> (MEV) for validators via Manifold’s custom auction solution.<tweet-embed url="https://twitter.com/mevdotio/status/1709659685719302323"></tweet-embed><a href="https://coinmarketcap.com/currencies/multi-collateral-dai/">DAI</a> stablecoin issuer, <a href="https://coinmarketcap.com/currencies/maker/">MakerDAO</a>, announces the offboarding of the rETH-A vault from the protocol. Users who have taken out DAI loans against <a href="https://coinmarketcap.com/currencies/rocket-pool-eth/">rETH</a> will have to repay their loans and withdraw to prevent <a href="https://coinmarketcap.com/academy/glossary/liquidation">liquidation</a> when the offboarding takes place.<tweet-embed url="https://twitter.com/MakerDAO/status/1709277151545938126"></tweet-embed><a href="https://coinmarketcap.com/currencies/redacted/">Redacted Cartel</a> releases their very own ETH liquid staking derivative, Pirex ETH (pxETH), on the Goerli testnet, ahead of the launch of the Dinero stablecoin. PxETH gives holders a variety of options for yield, through holding, staking or <a href="https://coinmarketcap.com/academy/glossary/liquidity-provider">liquidity provision</a>.<tweet-embed url="https://twitter.com/redactedcartel/status/1708886131721302245"></tweet-embed>Real-world asset protocol, TProtocol, unveils USTP, a stablecoin backed by US Treasury yield. USTP comes in three variants, USTP, <a href="https://coinmarketcap.com/academy/glossary/rebase">Rebasing</a> USTP (rUSTP) and Interest-bearing USTP (iUSTP), to cater to the preferences of investors.<tweet-embed url="https://twitter.com/TProtocol_/status/1708952809679524010"></tweet-embed>Fixed-rate money market protocol, <a href="https://coinmarketcap.com/currencies/yield-protocol/">Yield Protocol</a>, winds down citing a lack of sustainable demand for the product in the market. The protocol will support lending until 31st December, after which, only limited support for withdrawals will continue.<tweet-embed url="https://twitter.com/yield/status/1709232386993496272"></tweet-embed><a href="https://coinmarketcap.com/academy/glossary/decentralized-exchange-dex">Decentralized exchange</a> (DEX) aggregator, Matcha, delivers upgrades on their <a href="https://coinmarketcap.com/academy/glossary/limit-order">limit order</a> functions, including percentage-based price settings, duplicating past orders, batch order cancellation and more.<tweet-embed url="https://twitter.com/matchaxyz/status/1709282539549110510"></tweet-embed>Popular GambleFi protocol, <a href="https://coinmarketcap.com/currencies/rollbit-coin/">Rollbit</a>, brings their RLB token buybacks <a href="https://coinmarketcap.com/academy/glossary/on-chain">on-chain</a>, enabling users to track token buyback and burns for themselves, bringing greater transparency to the protocol.<tweet-embed url="https://twitter.com/Lucky_Rollbit/status/1709277506052780512"></tweet-embed><a href="https://coinmarketcap.com/academy/glossary/bridges">Bridging</a> protocol, Orbiter Finance, releases a public statement after a week of stuck transactions on the protocol, non-responsiveness on Discord and Twitter, and rumors of a slow <a href="https://coinmarketcap.com/academy/glossary/rug-pull">rug</a> of the protocol.<tweet-embed url="https://twitter.com/Orbiter_Finance/status/1709254171780935995"></tweet-embed><h2 id="header-3">L2s: IntentX, a DEX with CEX Liquidity</h2>IntentX introduces its omnichain <a href="https://coinmarketcap.com/academy/glossary/perpetual-contracts">perpetuals</a> DEX model, which uses intent-based architecture to combine liquidity from <a href="https://coinmarketcap.com/academy/glossary/centralized-exchange-cex">centralized exchanges</a> (CEXs) with the security of DEXs, taking DEX trading to the next level.<tweet-embed url="https://twitter.com/IntentX_/status/1708899582917415319"></tweet-embed><a href="https://coinmarketcap.com/currencies/arbitrum/">Arbitrum</a>-based hybrid DEX, <a href="https://coinmarketcap.com/currencies/vertex-protocol/">Vertex</a>, introduces Margin Manager, a tool designed to track and manage a user’s deposits and loans, perpetual positions, <a href="https://coinmarketcap.com/academy/glossary/liquidity-pool">liquidity pools</a>, spread positions and more, to better manage users’ <a href="https://coinmarketcap.com/academy/glossary/cross-margin">margin</a> across all products.<tweet-embed url="https://twitter.com/vertex_protocol/status/1709255577443201306"></tweet-embed><a href="https://coinmarketcap.com/academy/glossary/synthetic-asset">Synthetic asset</a> trading platform, <a href="https://coinmarketcap.com/currencies/synthetix/">Synthetix</a>, opens up the Perps V3 Testnet Trading Competition on the <a href="https://coinmarketcap.com/academy/article/what-is-base-the-ultimate-guide-to-the-base-ecosystem">Base</a> testnet, with $15K worth of SNX and other prizes to be won. The competition will take place on Synthetix frontends, <a href="https://coinmarketcap.com/currencies/kwenta/">Kwenta</a> and Polynomial.<tweet-embed url="https://twitter.com/synthetix_io/status/1708929629887807687"></tweet-embed>Arbitrum <a href="https://coinmarketcap.com/academy/glossary/derivative">derivatives</a> platform, Perennial, unveils Perennial V2, a rebuilt version of V1, with lower <a href="https://coinmarketcap.com/academy/glossary/network-latency">latency</a> <a href="https://coinmarketcap.com/academy/glossary/oracles">oracles</a>, lower trading fees, a more efficient <a href="https://coinmarketcap.com/academy/glossary/funding-payments">funding</a> mechanism and deeper liquidity to provide the optimal experience to users.<tweet-embed url="https://twitter.com/perenniallabs/status/1709581301852824049"></tweet-embed>The <a href="https://coinmarketcap.com/currencies/oath/">OATH</a> Foundation introduces Aurelius, a lending protocol built for <a href="https://coinmarketcap.com/currencies/bitdao/">BitDAO</a>-backed L2, <a href="https://coinmarketcap.com/currencies/mantle/">Mantle</a>. On the platform, users will be able to borrow AUSD against blue-chip assets such as ETH, MNT, USDC and <a href="https://coinmarketcap.com/currencies/tether/">USDT</a>, as well as stake their <a href="https://coinmarketcap.com/academy/glossary/governance">governance</a> token, AU, to earn yield.<tweet-embed url="https://twitter.com/OATHFoundation/status/1708888629181817188"></tweet-embed>Arbitrum-based lending protocol, <a href="https://coinmarketcap.com/currencies/radiant-capital/">Radiant Capital</a>, delays migration to Ethereum mainnet to 15th October, citing additional contract upgrades and optimizations as the reason for doing so.<a href="https://twitter.com/RDNTCapital/status/1708894522850398488">https://twitter.com/RDNTCapital/status/1708894522850398488</a><h2 id="header-4">Cosmos: Native USDC Now on Cosmos Testnet</h2>USDC’s Cross-Chain Transfer Protocol (CCTP) is now on the Noble chain, making it the first non-EVM chain to be part of the CCTP network. This enables native USDC to be transferred to the chain seamlessly from the other CCTP chains. CCTP is now live on Noble’s testnet and will hit the mainnet shortly.<tweet-embed url="https://twitter.com/noble_xyz/status/1709157850780463401"></tweet-embed>Nomic drops nBTC, a <a href="https://coinmarketcap.com/currencies/bitcoin/">BTC</a> token compatible with the <a href="https://coinmarketcap.com/academy/glossary/inter-blockchain-communication-ibc">Inter-Blockchain Communication</a> (IBC) protocol. NBTC enables BTC to be bridged into the Cosmos ecosystem without the need to swap for other tokens.<tweet-embed url="https://twitter.com/osmosiszone/status/1709184063972741169"></tweet-embed>Mesh liquidity protocol, <a href="https://coinmarketcap.com/currencies/side-protocol/">Side Protocol</a>, partners up with Cosmos chain, <a href="https://coinmarketcap.com/currencies/neutron-ntrn/">Neutron</a>, to increase <a href="https://coinmarketcap.com/academy/glossary/interoperability">interoperability</a> of the chain by enabling cross-chain swaps in the Cosmos ecosystem without having liquidity providers bridge their liquidity continuously to new chains.<tweet-embed url="https://twitter.com/Neutron_org/status/1708845329138020648"></tweet-embed>Cosmos chain, <a href="https://coinmarketcap.com/currencies/stride/">Stride</a>, proposes to merge completely with the Cosmos Hub. If passed, the entire STRD supply will be converted to ATOM, and ATOM will become the <a href="https://coinmarketcap.com/academy/glossary/governance-token">governance token</a> for the chain.<tweet-embed url="https://twitter.com/CosmoverseHQ/status/1709556775232364637"></tweet-embed><h2 id="header-5">Another Week, Another Airdrop</h2>Cosmos-based privacy chain, Namada, announces their upcoming <a href="https://coinmarketcap.com/academy/glossary/airdrop">airdrop</a> at Cosmoverse 2023. The full details have not been released yet but it has been announced that the airdrop will be distributed to ATOM holders.<tweet-embed url="https://twitter.com/namada/status/1708829398600736996"></tweet-embed>Apathy remains high towards the crypto space, but the space continues to grow as builders keep shipping. Stay updated on your favorite projects and stay tuned for next week’s edition, and keep supporting your favorite projects, degens!

Week in DeFi: DeFi Projects Ship Upgrades While Prices Retrace

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