BlackRock drops $100 million USDC to Ethereum

Week in DeFi: BlackRock Drops $100M USDC to Ethereum

Wall Street giant BlackRock continues its march forward in the crypto space with a new tokenized asset fund SECOND deposit, with $100 million in USDC seeded in chain towards the fund. The same week, Optimism deployed their without authorization anti-breakdown system on the Sepolia testnet in a move towards further decentralization of the Superchain.

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Total value locked (TVL) across all channels drops further as cryptocurrency majors continue their downward trend, pushing down the altcoin walked with. Notable trend outperformers include Bitcoin L2, Battery, Coinbase-supported L2, Baseand movement-based L1s, Sui And Aptos.

Source: https://coinmarketcap.com/chain-ranking/

Welcome to Alpha Central

As the AI ​​space becomes the next big narrative in the crypto space, Crypto Distilled breaks down the AI ​​agent industry and where it stands today.

TL;DR:

• Autonomous agents are the gold standard, being able to detect inputs and act based on their environment. They can self-learn and improve based on input and their actions.

• Verifying the accuracy and confidentiality of the work performed by the AI ​​agent still remains difficult.

• AI agents could play an important role in Internet of Things (IoT), agents being able to ask other robots and machines to streamline current workflows and processes.

Ethereum: BlackRock deploys an on-chain tokenized assets fund

Blackrock files a tokenized asset fund application with the SEC in collaboration with Securitize, injecting $100 million in USDC in the same week on Ethereum blockchain. In true crypto fashion, users deposited memecoins at the same address and same sprinkling the address with the ETH tokens of Tornado Cash.

Other Product Launches and Updates

• ETH Native Liquid Replenishment Protocol, EtherFi, launches the second in its trilogy of products, Liquidan automated vault strategy to optimize return strategies for vault assets EtherFi ecosystem.

• Vault protocol, Yearn Finance, launches Yearn V3revealing new vaults and strategies for farmer yield on Ethereum. Strive V3 safes provide better automation, composability and flexibility for DeFi users.

• Multi-chain decentralized exchange (DEX), Paraswap, unveils Augustus v6the latest protocol update for better and cheaper routing trades. Unfortunately, a bug was discovered shortly after and the funds were secured in a white hat hackwith refunds in progress for affected users.

• Cross chain automated market maker (AMM), Catalyst AMM opens its latest testnet: Tiger. Tiger brings to multi-chain protocol liquidity poolsinstant finality and minimized relay with confidence.

• Supplier of structured chain products, Index Coop, launches ETH2x and BTC2xwith the intention of providing leverage exposure to ETH and BTC, powered by Aave. These new tokens are designed to replace existing Flexible Leverage Index (FLI) tokens. Current holders do not need to take any action.

• F(x) protocol releases rUSDA stable coin backed by liquid recovery tokens. Users can now create and trade rUSD while earning liquid staking yields, FXN token incentives, EtherFi points and Clean diaper points.

The story continues

L2s: Optimism launches a failure proof system

Optimism frees one’s open sourcepermissionless outage proof system on the Sepolia testnet, taking the next step to enable completely permissionless withdrawals and deposits on Optimism’s Superchain network on-chain and chains.

Portfolio monitoring and wallet Vendor Zerion announces its next L2 chain, Zero, which is expected to launch late in the second or early third quarter. The chain seeks to offer zero gas fees for on-chain users to help onboard new users into crypto.

BitDAO-supported L2, Coatteases upcoming feature allowing the staking of MNT tokens to earn Ethena Shards, the points system of the stablecoin protocol, Ethena.

Other Product Launches and Updates

Solana: Jupiter Exchange supports new launches with ILM

Solana DEX Aggregator, Jupiter Exchangeunveils the Intuitive Launchpool Model (ILM), a generalized version of the LFG Launchpool, allowing any project to launch a specialized pool targeting the needs of its token and its project.

Cosmos: Incoming L1 particle network

Wallet abstraction service, Particle Network, has announced plans to launch its own L1built on the Cosmos SDK and BérachainThe Polaris frame from. L1 seeks to power on-chain abstraction through universal accounts, unified cross-chain liquidity, and universal gas tokens across all chains.

Based on the cosmos Ethereum Virtual Machine (EVM), Singing, announces Canto Cyclone Stack, an upgrade to bring parallelized EVM to the chain. The upgrade will take place in three phases, introducing faster block times, smoother transactions, and the removal of on-chain storage bottlenecks.

Injective launches Token Station, their native token launcher, allowing anyone to launch a permissionless token on Injective, without coding experience, in just minutes.

Another week, another airdrop

Dymension RollApp, Nim Network, Releases Eligibility Checker for Its Upcoming NIM Token airdrop, where 9% of the total supply, or 90 million tokens, will be distributed. Eligible wallets include DYM stakers and specific tokens and NFT communities among others.

ETH liquid recovery protocol EtherFi is opening claims for its first ETHFI token airdrop, with claims available until June 16. Unclaimed tokens will be returned to the treasury and placed in the Season 2 airdrop.

Bridging infrastructure protocol, PolyHedra Networkalso opens demands for their governance token, ZK. The claim period ends in one month, on April 19.

Tweet of the week

Cold Blooded Shiller once again leaves us with wisdom as the market continues to deteriorate this week, reminding us not to confuse gambling with trading.

Stay informed about your favorite projects and stay tuned for next week’s edition, and keep supporting your favorite projects, degens!

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