Pencils Protocol is a Scroll-native applications that offers a suite of products.
They are effectively a “one-stop” shop on Scroll offering farming, vaults, launchpads, liquid staking, and RWA auctions. TVL across the protocol is currently $315M.
Today they announced their raise at an $80M post-money valuation.
Farming
Deposits in
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Given the recent debates about the Ethereum rollup-centric roadmap, I thought it would beneficial to give a rundown of the actual metrics L2s are producing. All data/charts are taken from Growthepie, a great source for everything about L2s.
Economics
The best argument against L2s has always been that the economics of a rollup-centric
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Yesterday two Starknet upgrades went live on mainnet: parallel execution and block packing.
Starknet is significantly faster and cheaper. The upgrades allowed for a peak of 400 TPS on testnet.
For what it’s worth, mainnet is still under 1 TPS, because there is very little demand for Starknet blockspace.
Parallel e
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The majority of chain abstraction protocols are attempting to solve the UX issue that comes with rollup interoperability.
XION is taking a different route through building an L1 network that includes full protocol-level abstraction. The chain is built using the Cosmos SDK and Comet BFT.
They have raised $36M from Multicoin, Circle Vent
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MakerDAO has officially undergone its long anticipated rebranding. Going forward, MakerDAO will be referred to as Sky Protocol. Given the mixed sentiment around the rebranding, let’s unpack the changes accompanying Sky.
At a high level, there are five major changes coming to the protocol:
MetaDAO is my highest-conviction low-cap altcoin. And this is my thesis.
But first, let’s lay some groundwork — WTF is MetaDAO?
MetaDAO is building decision markets. It’s similar to Polymarket but with some key differences. In a prediction market, you bet on what you think will happen. In a decision market, you bet on what you
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Usual is attempting to create a decentralized Tether: a stablecoin issuer that distributes treasury yield to stablecoin holders, and distributers ownership of the infrastructure through $USUAL.
USD0 is the flagship product of Usual backed exclusively by U.S. Treasuries with ultra-short maturity.
Currently USD0 is only mintable thr
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Plume is an L2 built on the Arbitrum Nitro stack designed to be a global hub for RWAs.
The chain unlocks total RWA composability while maintaining compliance.
They raised $10M in May 2024, and are currently live with their testnet.
The RWAs that can be tokenized on Plume range from sneakers to restricted securities.
The ne
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Reservoir officially launched today with the mission of building a decentralized, scalable, efficient, and yield-bearing stablecoin.
Reservoir is built on Ethereum and includes four products: the stablecoin rUSD, yielding asset srUSD, term-based yielding asset trUSD, and a permissionless lending market built on Morpho.
