【Summary】
Lending: MakerDAO RWA scale increased to 2.707 billion. Dai scale increased to 5.511 billion, breaking the previous high in six months.
LSD: Last week, the ETH staking rate rose to 22.35%, a month-on-month increase of 1.08%. Last week, 26.87 million ETH were locked in the beacon chain, corresponding to a staking rate of 22.35%, a month-on-month increase of 1.08%; among them, there were 804,000 active verification nodes, a month-on-month increase of 2.09%, and 31,100 verification nodes entered the queue, a month-on-month decrease of 20.69%. This week's ETH staking yield is about 3.60%.
Ethereum L2: The total TVL of Layer2 increased by 260 million USD compared with last week, and the total locked amount reached 9.66 billion USD. The data on Base continued to rise and hit a record high. On September 14, the number of Base transactions exceeded the sum of Arbitrum and Optimism.
DEX: Dex combined TVL 11.72 billion, the same as last week. Dex 24-hour trading volume million, 7-day trading volume 11.61 billion, an increase of 2.5 billion from last week. The market rebounded this week and trading volume has recovered.
POW: With the rebound of BTC this week, several major projects with the highest market value in the POW track have seen significant increases. KSA performed best, with a 7-day increase of 24.9%. BCH was second, with a 7-day increase of 17.6%. LTC was third, with a 7-day increase of 12.7%. FLUX had a smaller increase of only 2.8%. DNX was the weakest and was still in a correction, down 8.6%.
【Loans】
MakerDAO
The current RWA scale has reached 2.707 billion US dollars, nearly doubling compared to three months ago. The scale of Dai in DSR has increased to 1.58 billion, an increase of 270 million US dollars in one week, accounting for 28.7% of the total Dai.
Ghost
The Aave community is currently voting on a proposal to increase the GHO lending rate from 1.5% to 2.5% to maintain the GHO anchor. The current total amount of GHO is 23.02 million, which has remained basically unchanged since August 13. The main problem is still the lack of places to use the GHO stablecoin.
【LSD】
Last week, the ETH staking rate rose to 22.35%, up 1.08% from the previous month. Last week, 26.87 million ETH were locked in the beacon chain, corresponding to a staking rate of 22.35%, up 1.08% from the previous month; among them, there were 804,000 active verification nodes, up 2.09% from the previous month, and 31,100 verification nodes entered the queue, down 20.69% from the previous month. This week, the ETH staking yield was about 3.60%.
This week, ETH staking increased by 1.08% month-on-month
This week's ETH staking yield is 3.60%
Among the three major LSD protocols, from the perspective of price performance, LDO rose 3.9% in a week, RPL rose 1.2%, and FXS rose 4.8%; from the perspective of ETH staking, Lido rose 0.72% in a week, Rocket Pool rose 0.45%, and Frax rose 0.55%. The current Rocket Pool deposit pool balance is 18,348 ETH, the RPL staking rate is 49.01%, and the effective staking ratio is 91.25%. SSV has 7 consecutive positive daily lines. After the mainnet went online and entered the third stage, the coin price performed better than the market. In the future, we will pay attention to whether the growth of the protocol TVL is higher than expected; Frax V3 is expected to release a white paper in late September.
Ethereum L2
TVL
The total TVL of Layer2 increased by US$260 million from last week, and the total locked amount reached US$9.66 billion
ON Mainnet
1. OP Labs announced on September 14 that OP Stack’s first fault proof system has made significant progress and we are preparing to test the system on OP Goerli
2. The opBNB mainnet was officially launched on September 13. In the future, it will focus on enhancing the network’s resilience and decentralization through Proof Enhancement, account abstraction, data availability of BNB Greenfield, interoperability with BNB Greenfield, and decentralized sequencers.
Base
Thanks to the continued popularity of FrienTech, the data on the base chain hit a record high last week. Among them, the number of independent user addresses exceeded 280,000, the total bridge value exceeded 180,000 ETH, and the number of transactions on September 14 exceeded the total number of transactions on the Arbitrum and Optimism mainnets.
Mantle
1. Mantle Network announced on September 14 that it has established a partnership with Telegram’s affiliated Ton Foundation. Ton’s main network will support Mantle’s token MNT transactions. Mantle can use Telegram’s built-in TON wallet to provide services to users.
2. Mantle Network announced on September 13 that it will support the tokenized note USDY of the structured protocol Ondo Finance to help Mantle expand into the RWA field
On-chain activity
【DEX】
Dex combined TVL 11.72 billion, the same as last week. Dex 24-hour trading volume million, 7-day trading volume 11.61 billion, an increase of 2.5 billion from last week. The market rebounded this week and trading volume has recovered.
Ethereum
ETH L2/sidechain
BTC L2/Sidechain
Everything L1
【POW】
This week, with the rebound of BTC, several major projects with the highest market value in the POW track have seen significant increases. KSA performed best, with a 7-day increase of 24.9%. BCH was second, with a 7-day increase of 17.6%. LTC was third, with a 7-day increase of 12.7%. FLUX had a smaller increase of only 2.8%. DNX was the weakest and was still in a correction, down 8.6%.
24-hour output and computing power
According to the information disclosed by F2Pool, we can see the 24-hour output of POW series tokens and the computing power of the entire network. According to the output ranking, KAS ranks third, second only to BTC and DOGE; LTC ranks fourth; BCH ranks sixth; DNX ranks ninth.
In GPU mining, DNX currently has the largest computing power, higher than ETC and RVN. After KAS switched to professional mining machines, its original GPU computing power was transferred to DNX.
Project Progress
LTC and BCH are relatively early POW tokens. There has not been much development in the project ecology. They mainly rely on the status formed by long-term accumulation of time and the mining community.
KAS and DNX are both new POW tokens generated after 2021. KAS has absorbed the GPU computing power after Ethereum switched to POS and has developed rapidly. Its market value has exceeded 1 billion US dollars, and its price reached a record high this week. In the past month, its main progress includes:
At the end of August, the Rusty Kaspa update was carried out.
Rust node development is divided into three parts: 1. Stress testing the network to withstand higher loads. 2. Releasing a stable Rust node that will replace the Go client on mainnet (before any hard forks). 3. Improving the API to make integration and development on Kaspa easier.
The current progress is that the first two items have been basically completed and the code is being audited. In terms of API, the JavaScript/TypeScript WASM SDK (and all its supporting infrastructure) is entering the final stage of development.
On September 2, it was launched on Bitmart Exchange.
l On September 6, it was launched on Bybit Exchange.
DNX is a cloud computing platform that can be used for AI training. Previously, the price rose to $1.3, and then entered a correction period. Currently, the project still maintains a good POW output and occupies the largest computing power on GPUs. The main progress in the past month was the launch of the fish pool f2pool on September 5.
