ZEN INVESTING
Sui Network Redirects Additional 40M SUI, Totaling 157 Million
The Sui Foundation has redirected an additional 40 million SUI tokens towards ecosystem and community development, adding to the previous 117 million SUI, making a total of 157 million SUI. This reallocation aims to bolster the DeFi ecosystem of Sui Network, which has shown a significant uptick in total value locked, marking over 100% increase in the last two months. The initiative follows a series of remarkable achievements by Sui, underscoring its commitment to fostering a robust ecosystem for decentralized applications and financial protocols.
Sui Foundation Reallocates 117M SUI to Bolster Network Growth
Sui Foundation announces the reallocation of 117 million SUI tokens from external market makers to support the growth of its Layer 1 blockchain network, Sui. The move aims to bolster the network's DeFi ecosystem, which recently recorded its highest-ever total value locked (TVL) at approximately $37 million. The reallocation will not impact the circulating supply of SUI tokens.
Ethereum's Layer 2s Break New Ground in Scalability
Ethereum has seen a 22% rise in value as of September 2023, largely attributed to the emergence of Layer 2 solutions like BASE by Coinbase, which enhance scalability and user affordability on the network. Leading Layer 2 blockchains, Optimism and Arbitrum, have surpassed major Layer 1 blockchains in Total Value Locked, indicating a growing trust and utilization in the Ethereum ecosystem. Despite centralization concerns, the progressive strides in Layer 2 solutions are poised to bolster Ethereum's standing as a dominant smart contract blockchain.
Friend.Tech Boosts Security with CoolWallet on Base Chain
Friend.tech, a decentralized social network on Base's Ethereum layer-2 chain, has seen rapid growth but also faces security risks from phishing attacks. To address this, CoolWallet has launched a Web3 Guardian competition to promote its Web3 SmartScan feature, which screens transactions for malicious behavior.
Arbitrum Foundation and Fracton Ventures Ally to Boost Arbitrum Adoption in Japan
The Arbitrum Foundation has formed a strategic partnership with Fracton Ventures to launch Arbitrum Japan, aiming to accelerate blockchain technology adoption and expand the Arbitrum ecosystem in the country. This alliance is poised to generate new business avenues, especially in finance and entertainment sectors, and bolster community engagement through educational initiatives.
60k BTC and 60k ETH on Justin Sun's Tron Seem Unbacked
Crypto analyst ErgoBTC suggests 60k TRC20 BTC and 60k TRC20 ETH tokens on Justin Sun's Tron network, currently in JustLend protocol, appear unbacked, implying a $1.8B non-existent TVL.
DeFi TVL Rebounds to the $54 Billion Mark, Eth-based MakerDAO Remains Dominant Lender
The total value locked (TVL) in DeFi rebonds to approximately $54 billion currently. The TVL has been down since October 12, trading between $53.7 and $53.29 billion level.
DeFi TVL Remains Flat as Crypto Market Shrugs Off Another Bearish Weekend
Total Value Locked in DeFi remains slightly indifferent as the market saw a bullish opening to the new week.
DeFi Grows as Total Value Locked Tops $50 Billion
The Total Value Locked in DeFi has topped $50 billion for the very first time, continuing the positive rally started this year.
Uniswap’s UNI Price Drops by 30%, but DeFi Protocol Still Winning
Uniswap’s very own UNI dropped by more than 30% over the weekend, plummeting from its all-time high of $8.39, according to data from CoinMarketCap.