Over the past 24 hours, Lido Staked Ether's (CRYPTO: STETH) price rose 3.2% to $2,713.84. This continues its positive trend over the past week where it has experienced a 6.0% gain, moving from $2,560.09 to its current price. As it stands right now, the coin's all-time high is $4,829.57.
The chart below compares the price movement and volatility for Lido Staked Ether over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.
The trading volume for the coin has increased 71.0% over the past week, while the overall circulating supply of the coin has decreased 0.04%. The current market cap ranking for STETH is #8 at $26.43 billion.
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Lido Staked Ether's (CRYPTO: STETH) price has increased 9.31% over the past 24 hours to $2,680.88, which is in the opposite direction of its trend over the past week, where it has experienced a 0.0% loss, moving from $2,664.17 to its current price. As it stands right now, the coin's all-time high is $4,829.57.
The chart below compares the price movement and volatility for Lido Staked Ether over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.
The trading volume for the coin has risen 54.0% over the past week diverging from the circulating supply of the coin, which has decreased 0.1%. This brings the circulating supply to 9.75 million. According to our data, the current market cap ranking for STETH is #9 at $26.11 billion.
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After momentarily sliding below important support levels, Ethereum (ETH) is once again on the climb. After a significant change in market mood, the second-largest digital asset by market capitalization passed $2,900.
Interestingly, Eric Trump, the son of US President Donald Trump, weighed in on the situation, remarking that it is a strategic opportunity to acquire ETH.
Tariff Pause Sparks Market Rebound Concerns over possible tariffs on Canada and Mexico rattled the crypto market earlier this week. Both Bitcoin and Ethereum fell significantly; Ethereum dropped momentarily to around $2,360. Still, the temporary suspension of the tariffs by Trump offered a breather, which raised investor confidence in risk assets including cryptocurrency.
In the wake of the announcement, Ethereum experienced a robust recovery, with a nearly 20% increase. Traders interpreted this as an invitation to re-enter the market, and ETH promptly reclaimed the $2,900 mark.
In my opinion, it’s a great time to add $ETH.
— Eric Trump (@EricTrump) February 3, 2025
Eric Trump’s Crypto Endorsement Raises Eyebrows Eric Trump posted his optimistic view on Ethereum on social media. He first said, “In my opinion, it’s a great time to add $ETH. You can thank me later.” Although the subsequent section of his remarks was deleted, crypto investors saw resonance in his endorsement of Ethereum’s future development.
The Trump family has been progressively involved in the digital asset sector, particularly through their World Liberty Financial platform. This most recent statement serves to emphasize their involvement and potential long-term dedication to blockchain technology.
ETHUSD trading at $2,722 on the daily chart: TradingView.com World Liberty Financial’s Significant Ethereum Transaction World Liberty Financial recently made a substantial move in the crypto space, which has served to further fuel speculation. The firm transferred over $300 million in assets to Coinbase’s custody platform, according to blockchain analytics firm Spot On Chain. Furthermore, they acquired an additional 1,826 ETH for approximately $5 million and converted nearly 20,000 Lido Staked Ether (stETH) into ETH.
World Liberty Financial (@worldlibertyfi) moved $307.41M in 8 assets to #CoinbasePrime 6 hours ago—as part of treasury management and business operations.
Shortly after, the project unstaked 19,423 $stETH to $ETH and further spent 5M $USDC to buy 1,826 $ETH at $2,738.… https://t.co/Rp9NAFUs5N pic.twitter.com/5bfIvJma7U
— Spot On Chain (@spotonchain) February 4, 2025
These transactions indicate that the company is making preparations for the introduction of its “Earn and Borrow” lending protocol. Although the protocol is still in the process of being developed, the substantial transfers suggest that the platform could soon play a significant role in decentralized finance (DeFi).
Ethereum’s Prospects Still Remain Positive As institutional interest is rising and the price of the top altcoin has recaptured higher levels, Ether remains a central focus in the crypto market. Macroeconomic changes, strategic investments, and political influence taken together provide an interesting dynamic for ETH’s future course.
Featured image from Gemini Imagen, chart from TradingView
The Lazarus Group has laundered stolen crypto from last week’s record-shattering Bybit hack through the exchange eXch, according to the blockchain research firm Elliptic.
Hackers looted nearly $1.5 billion worth of Ethereum (ETH) and Lido Staked Ether (stETH) from Bybit on Friday.
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The attack represented the largest crypto hack ever and possibly the biggest heist in world history.
Elliptic, pseudonymous on-chain investigator ZachXBT and other researchers have pinned the exploit on the Lazarus Group, a prolific North Korean cybercriminal outfit known for numerous high-profile hacks on major crypto platforms.
In a new analysis, Elliptic notes that Lazarus’ money-laundering process typically follows the same steps. First, the group exchanges any stolen tokens for a native blockchain asset like Ethereum, because ETH can’t be frozen by a central authority.
Source: Elliptic Subsequently, the cybercriminal outfit “layers” the stolen funds through multiple wallets, exchanges, cross-chain bridges and crypto mixers to obfuscate the transaction trail.
Elliptic says that Lazarus is currently in the middle of the second step.
“Within two hours of the theft, the stolen funds were sent to 50 different wallets, each holding approximately 10,000 ETH. These are now being systematically emptied – as of 1pm UTC on February 24, 14.5% of the stolen assets (now worth $195 million) have been moved from these wallets.
Once moved out of these wallets, the funds are being laundered through various services, including DEXs (decentralized exchanges), cross-chain bridges and centralized exchanges.
However, one service has emerged as a major and willing facilitator of this laundering. eXch is a cryptocurrency exchange, notable for allowing its users to swap cryptoassets anonymously. This has led them to being used to exchange hundreds of millions of dollars in crypto assets derived from criminal activity, including multiple thefts perpetrated by North Korea. Despite attempting to conceal this activity, our analysis shows that since the hack, crypto assets stolen from Bybit worth over $75 million have been exchanged using eXch. Despite direct requests from Bybit, eXch has refused to block this activity.”
Over the weekend, eXch took to the BitcoinTalk forum to deny claims it was laundering crypto for Lazarus, though it did cop to processing an “insignificant” portion of the stolen Bybit funds.
“1. eXch is NOT laundering money for Lazarus/DPRK (North Korea).
2. The insignificant portion of funds from the ByBit hack eventually entered our address 0xf1da173228fcf015f43f3ea15abbb51f0d8f1123 which was an isolated case and the only part processed by our exchange, fees from which we will be donated for the public good.
3. Any claims by ZachXBT and others on Twitter regarding transactions not related to 0xf1da173228fcf015f43f3ea15abbb51f0d8f1123 that are falsely attributed to eXch are a targeted FUD attack on our exchange.”
Bybit CEO Ben Zhou says the firm has restored a 1:1 backing on all client assets after the record-setting hack, and the Dubai-based exchange announced a full restoration of services on Saturday.
The controversial exchange eXch plans to close its doors in May after facing allegations that it laundered crypto stolen in the record-setting Bybit exploit earlier this year.
In February, hackers looted nearly $1.5 billion worth of Ethereum (ETH) and Lido Staked Ether (stETH) from Bybit in the largest crypto theft ever and possibly the biggest heist in world history.
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The blockchain research firm Elliptic, pseudonymous on-chain investigator ZachXBT and other researchers pinned the exploit on the Lazarus Group, a prolific North Korean cybercriminal outfit known for numerous high-profile hacks on major crypto platforms.
Elliptic also said that Lazarus used eXch as part of its process to launder the stolen crypto. The exchange denied the money-laundering allegations, though it did cop to processing an “insignificant” portion of the stolen Bybit funds.
This week, eXch took to the BitcoinTalk forum to announce it was shutting down on May 1st, claiming that “friends” in the state intelligence sector confirmed the exchange is the target of an “active transatlantic operation.”
“Even though we have been able to operate despite some failed attempts to shut down our infrastructure (attempts that have also been confirmed to be part of this operation), we don’t see any point in operating in a hostile environment where we are the target of SIGINT (Signals Intelligence) simply because some people misinterpret our goals. Starting from the date of the merger with a new management team this month, and as a result of some urgent meetings, the majority of us voted to cease and retreat instead of going against strong winds, because none of us want to cause any harm to innocent people or this forum.”
The crypto market has experienced a modest correction, with several major coins witnessing small declines amid a broader bull run.
This dip comes amid significant whale activity, revealing divergent strategies among the crypto market’s largest players.
Crypto Whales Play Both Sides: Accumulating and SellingBeInCrypto Markets data revealed that over the past 24 hours, the broader crypto market has dropped 3.83%. Furthermore, 7 of the top 10 cryptocurrencies are in the red.
Bitcoin (BTC), the flagship crypto, dipped 0.48% over the past day. Ethereum (ETH), Lido Staked Ether (STETH), and TRON (TRX) bucked the trend, with the latter posting the highest gains of 3.19%.
Crypto Market Performance. Source: BeInCrypto MarketsMeanwhile, (Micro) Strategy has bought the dip. The firm announced the acquisition of 21,021 BTC, valued at approximately $2.46 billion. The average purchase price was $117,256 per coin.
This purchase, funded through a $2.5 billion initial public offering of Variable Rate Series A Perpetual Preferred Stock (STRC), increases the company’s total holdings to 628,791 BTC. The firm is now sitting at an unrealized profit of $28.18 billion.
“With approximately $2.521 billion of gross proceeds, this is the largest US IPO completed in 2025 to date based on gross proceeds and the largest U.S. exchange-listed perpetual preferred stock offering in the U.S. since 2009,” the firm added.
Furthermore, its year-to-date BTC yield stands at 25%. This acquisition aligns with the company’s pattern of leveraging equity and debt to bolster its BTC reserves, a strategy that has positioned it as a leading institutional holder.
Besides Strategy, Lookonchain highlighted that Anchorage Digital, a digital asset platform and infrastructure provider, has also increased its Bitcoin exposure.
“Anchorage Digital has accumulated 10,141 BTC($1.19 billion) from multiple wallets over the past 9 hours,” Lookonchain posted.
In contrast, a previously dormant investor’s activities indicated a more profit-oriented approach. Lookonchain reported that after 12 years of dormancy, a Bitcoin holder transferred out 343 BTC, worth $40.52 million. Of this, the ‘Bitcoin OG’ deposited 130.77 BTC, valued at $15.45 million, to Kraken.
“This OG received 343 BTC (around $29,600 at the time) 12 years ago, when the BTC price was $86. That’s a 1,368x return!,” the blockchain analytics firm revealed.
This small transfer follows one of the largest Bitcoin transactions ever executed in the cryptocurrency’s history. BeInCrypto reported that Galaxy Digital sold over 80,000 Bitcoin, worth more than $9 billion, on behalf of a long-term investor.
Ethereum’s market has similarly seen contrasting whale behaviors. A new wallet (0x3dF3) accumulated 12,000 ETH worth over $45 million through Galaxy Digital.
“Since July 9, a total of 9 fresh wallets have accumulated 640,646 ETH ($2.43 billion),” Lookonchain wrote.
However, this accumulation is offset by sell-offs. An on-chain analyst noted that Galaxy Digital deposited 5,000 ETH worth $19.28 million into Coinbase, and Cumberland also transferred 10,592 ETH worth approximately $40.79 million to the same exchange.
Moreover, Fidelity also followed the same path and sent 12,981 ETH valued at around $49.7 million to Coinbase.
“The institutional address suspected to be HashKey Capital transferred 12,000 ETH to OKX the day before yesterday, and then withdrew 46.16 million USDT from OKX yesterday. In other words, those 12,000 ETH have been sold at a price of $3,847,” analyst EmberCN added.
Thus, the crypto whales’ divergent strategies—accumulation versus liquidation—illustrate varying risk appetites and outlooks in the market.
PANews reported on December 4th that WisdomTree's fully staked Ethereum ETP has officially launched, according to the official Lido blog. Its "WisdomTree Physical Lido Staked Ether ETP" (trading code: LIST) is the first ETP product in Europe that only holds stETH minted through the Lido protocol. The product's structure avoids the non-staking buffer mechanism commonly used in traditional products during subscription and redemption.
LIST is listed and traded on the Deutsche Börse Xetra platform, the Swiss SIX stock exchange, and Euronext in Paris and Amsterdam. This product, through holding stETH, provides investors with exposure to staking ETH and its corresponding on-chain staking rewards in a listed product format that aligns with existing institutional business frameworks. At the time of its listing, LIST had approximately $50 million in assets under management and a management fee of 0.50%.
The crypto market capitalization has moved higher over the past day, with broad gains across major coins reflecting improving investor sentiment.
At the same time, the rebound has squeezed bearish positions, with over $468.5 million in short liquidations recorded during the 24-hour window.
Crypto Liquidation Wave Hits Short SellersAccording to BeInCrypto Markets data, total market capitalization has increased by 4.29%. The majority of the top 10 cryptocurrencies have posted gains over the past 24 hours.
Dogecoin (DOGE) jumped 9.10%, marking the strongest performance among the 10 largest cryptocurrencies. Lido Staked Ether (STETH) followed, advancing 8.83%. Ethereum (ETH) ranked third among the top performers, jumping 8.75% and reclaiming the $2,000 level.
Bitcoin (BTC) also posted notable gains, climbing 4.76% over the past day. The flagship cryptocurrency briefly touched $70,027 on Binance yesterday before retracing slightly to trade at $68,647 at press time.
Crypto Market Recovery On February 26. Source: BeInCrypto MarketsBeInCrypto reported that the rally benefited some long traders who recorded profits amid ETH’s latest rise. However, traders betting on further downside saw losses.
According to Coinglass, 128,348 traders were liquidated over the past 24 hours, with total liquidations reaching $575.59 million. Short traders bore the brunt of the losses, accounting for $468.53 million in liquidations, compared to $107.06 million in long positions.
Crypto Market Liquidations. Source: CoinglassBitcoin alone accounted for roughly 40% of total liquidations, with approximately $194.95 million in short positions liquidated. ETH recorded $203.8 million in total liquidations during the same period, with $175.16 million stemming from short positions.
The largest single liquidation order occurred on Hyperliquid for the BTC-USD pair, valued at $10.41 million.
Leveraged positions over the past 7 days have just turned positive.
With today’s short liquidations in BTC, what remains now are longs.
The market works like this — it moves toward where weak hands are most heavily exposed.
That’s easy money for exchanges and the liquidity… pic.twitter.com/UtZ7px3KVr
— Joao Wedson (@joao_wedson) February 25, 2026 Analysts Warn Crypto Relief Rally May Not Signal Full Trend ReversalThe recent rally has sparked optimism, but analysts warn it may not mark a full trend reversal. According to XWIN Research Japan, Open Interest has fallen sharply from prior highs, signaling a broad deleveraging phase.
“The recent drop in price was accompanied by falling OI, suggesting that liquidations and derivatives-driven unwinds — rather than aggressive spot selling — played a major role in the decline. This type of reset can stabilize the market, but it does not automatically signal renewed structural demand,” XWIN Research Japan wrote.
At the same time, Binance’s Fund Flow Ratio remains low at around 0.012. Since this metric tracks BTC inflows relative to total exchange holdings, a low reading suggests limited immediate sell pressure.
The analysis added that during the drop toward the mid-$60,000 range, the ratio did not spike. This suggested there was no panic-driven spot selling.
However, XWIN Research Japan noted that weak inflows do not imply strong accumulation. The medium-term trend of the Fund Flow Ratio’s moving averages is trending downward. It indicates that structural demand has not yet shifted upward.
“When leverage remains suppressed, upward price moves can easily trigger short squeezes. In that case, the rally is driven more by position unwinding than by expanding structural demand,” the post read.
Analyst Darkfost also stressed that an increase in spot trading volume will be necessary for any bullish recovery or solid market bottom to develop.
The Frax community has approved a proposal to use BlackRock’s Institutional Digital Liquidity Fund (BUIDL) as collateral for its upcoming frxUSD stablecoin.
The proposal, identified as FIP-418, received unanimous support after a six-day voting period.
The Increasing Demand for BlackRock’s BUIDL FundBlackRock’s BUIDL fund manages over $648 million in assets and provides yield-generating opportunities for frxUSD holders. Achieving this approval is a significant step for the Frax Protocol.
BlackRock is the largest asset manager in the world, with over $10.4 trillion in global assets. So, being backed by its tokenized fund can potentially minimize counterparty risk for the stablecoin’s collateral.
Frax Portocol’s Proposal Receives 100% Votes to Use the BUIDL Fund. Source: SnapshotAlso, this move reflects a growing trend among stablecoin projects to introduce yield-bearing options that reward holders financially while maintaining stability.
Securitize, the brokerage firm managing the BUIDL fund, initially proposed the idea on December 22. The frxUSD stablecoin will be pegged to the US dollar at a 1:1 ratio and backed by US government securities through BUIDL.
Meanwhile, other projects have also adopted BUIDL as collateral for stablecoins. Ethena Labs launched the USDtb (USDTB) stablecoin on December 16, backed by the BUIDL fund. The asset’s current market capitalization is $70 million.
In November, Curve Finance enabled users to mint Elixir’s deUSD (DEUSD) yield-bearing stablecoin using BUIDL as collateral.
Distribution of BlackRock’s BUIDL Fund. Source: DeFilLamaThe Rise of Real-World Asset TokenizationIn late 2024, BlackRock expanded BUIDL to five major blockchains. This included Aptos, Arbitrum, Avalanche, Optimism, and Polygon.
These developments align with BlackRock’s broader digital asset strategy, which includes initiatives like the IBIT Bitcoin ETF and tokenized funds.
Overall, the adoption of tokenized real-world assets (RWAs) continues to grow. In 2024, several major players achieved milestones in this area, setting the stage for further developments in 2025.
For example, Tether plans to roll out its Hadron RWA tokenization platform by February. This will offer institutional investors direct access via APIs.
Also, Hedera has integrated Chainlink Data Feeds and Proof of Reserve mechanisms to enhance its DeFi and RWA capabilities.
RWA Tokenization Global Market Overview. Source: RWA.XYZIn short, the Frax community’s decision to integrate BlackRock’s BUIDL fund into its stablecoin highlights the increasing overlap between traditional finance and blockchain-based innovations.
This shift reflects the potential for real-world asset tokenization to transform the stablecoin industry.
Key NotesFrax Finance’s frxUSD will now be backed by the BlackRock BUIDL Fund.The DeFi project aims to bridge DeFi and CeFi with the frxUSD stablecoin.The number of stablecoin issuers is growing, with RLUSD joining the trend. Frax Finance, a well-known Decentralized Finance (DeFi) protocol, is breaking new ground in the stablecoin market by combining blockchain technology with traditional finance through its frxUSD stablecoin backed by BlackRock’s BUIDL tokenized money market fund, as reported by The Block.
BlackRock’s BUIDL Token: A Cornerstone for Stability BlackRock’s BUIDL token, a digital version of a money market fund, is central to this breakthrough. Managed by the world’s largest asset manager, the fund invests in high-quality assets like the US Treasury bills and cash, offering unmatched trust and stability.
By using BUIDL to back its frxUSD stablecoin, Frax Finance sets a new standard for security and liquidity in crypto. In a statement, Frax Finance founder Sam Kazemian highlighted the significance of this partnership.
He emphasized that frxUSD combines blockchain transparency with BlackRock’s top-tier treasury assets, with the partnership facilitated quickly by Securitize, the broker-dealer for BlackRock’s BUIDL token, who drafted and submitted a governance proposal to Frax’s Decentralized Autonomous Organization (DAO) that received strong support and quick approval, showing the DAO’s confidence in the plan.
Frax announced that BUIDL will now serve as a key reserve asset for creating and redeeming frxUSD. This makes it a stable and trusted foundation for the token. Additionally, Ethena’s USDtb stablecoin is also backed by BlackRock’s BUIDL fund, facilitated by Securitize
Frax Finance frxUSD: A Bridge Between DeFi and Traditional Finance The frxUSD stablecoin aims to offer seamless on-chain and off-chain usability. Through a partnership with Paxos, frxUSD holders can directly convert the token into fiat currency. It would make it more accessible to everyday users and institutional players alike.
This feature supports Frax’s larger goal of gaining access to the US Federal Reserve Master Account. Achieving this would strengthen frxUSD’s position as a functional stablecoin. Frax Finance chose BlackRock’s BUIDL token as the backing for its frxUSD stablecoin for a clear reason: reliability and trust.
This decision was not random. It reflects Frax’s goal to create a stablecoin that earns both the confidence of DeFi and traditional finance users. Using BUIDL, Frax connects two financial worlds, paving the way for a new generation of stablecoins.
As other projects like Ethena (ENA) gain traction, the success of frxUSD could lead to more partnerships that connect blockchain and traditional finance.
Following Ripple’s approach to DeFi integration with traditional finance, the company launched RLUSD stablecoin in 2024, a token pegged to the US dollar and backed by government bonds, USD deposits, and cash equivalents, while continuing to push tokenization initiatives through both RLUSD and its L1 protocol XRP Ledger.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
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Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
Frax Finance has announced the launch of its new stablecoin, frxUSD, which will be backed by BlackRock’s BUIDL tokenized fund. This development marks a collaboration between traditional financial institutions and decentralized blockchain ecosystems, offering users a stable and yield-bearing digital asset option.
BlackRock BUIDL Fund Becomes Backing Asset for frxUSD The Frax community has passed FIP-418, a governance proposal that enables BlackRock’s United States Dollar Institutional Digital Liquidity Fund (BUIDL) as collateral for the frxUSD stablecoin. The vote which took six days garnered full support from the Decentralized Autonomous Organization (DAO).
To this end, Frax Finance stated that BUIDL will function as the ‘custodian asset’ for the creation and creation of frxUSD. The Fund, however, invests in fairly liquid instruments including cash, U.S Treasury bills, and repurchase agreements. Frax founder Sam Kazemian said;
“frxUSD is a bridge between the blockchain world with its openness and programmability and BlackRock’s prime treasury products with their credibility.”
BlackRock’s BUIDL fund, which has as of now more than $648 million in AUM, expects to minimize counterparty risk while maximizing frxUSD holders’ yield opportunities. This decision is in line with the recent development in the stablecoin market that has seen the adoption of real-world asset (RWA) backing.
Features of the Frax Finance’s frxUSD Stablecoin The newly launched frxUSD stablecoin is pegged to the U.S. dollar on a 1:1 ratio which forms a good condition for price stability for the users. Frax Finance has integrated with Paxos in order to allow the conversion of frxUSD directly into fiat currency.
Furthermore, the frxUSD holders shall receive distribution from the yield generated from the underlying assets within the tokenized fund. The initiative comes as part of the Frax Finance’s strategy to bring traditional finance products into the world of decentralized finance.
The company also unveiled its intention to apply for access to the US Federal Reserve Master Account that would make frxUSD useful in the regulated markets.
Growing Adoption of BUIDL-Backed Stablecoins Frax’s frxUSD is the newest in a line of stablecoins whose value is anchored to BlackRock’s BUIDL token. Ethena Labs has introduced its own asset-backed stablecoin, USDtb, in December 2024 to be backed by BUIDL. The stablecoin has a market capitalization of $70 million and is intended to mitigate the volatility associated with synthetic dollar offerings in volatile market conditions.
Similarly, in the decentralized exchange, Curve Finance, users have been able to mint Elixir’s deUSD stablecoin using BUIDL as collateral. Such advancements suggest that more tokenized funds are being used, particularly for the collateral of stablecoins such as BUIDL.
On the same note, the introduction of frxUSD is timely given that the stablecoin market is in the process of transformation following shifts in the regulatory environment. The Markets in Crypto-Assets (MiCA) regulation of the European Union came into force in its entirety on December 30, 2024, and has set new standards for stablecoin issuers.
At the same time, BlackRock’s participation in the tokenized assets market proves that traditional financial institutions are gradually stepping in to connect Web3 and traditional finance. With $10.4 trillion in assets under management, BlackRock’s participation in the digital asset space inclusive of Bitcoin ETF record achievements is viewed as a step toward broader institutional acceptance of blockchain-based financial products.
Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...
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The Frax community has approved a proposal to use BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL) as collateral for its upcoming frxUSD stablecoin.
The proposal, known as FIP-418, passed unanimously after six days of voting, the team said in an official press release.
According to the approved proposal, the tokenized BUIDL fund will not only back the frxUSD stablecoin but also offer potential yield-bearing opportunities for its holders.
The collaboration with BlackRock, which manages over $10.4 trillion in assets, also minimizes counterparty risk by collateralizing the stablecoin with a highly reputable and stable fund.
Collaboration with BlackRock to Create a Stable and Transparent frxUSD BackingFrax Finance founder Sam Kazemian praised the decision, noted that the stability of BlackRock’s prime treasury offerings, combined with the blockchain transparency, would create a powerful and trustworthy foundation for the frxUSD stablecoin.
“This collaboration is a significant step toward bridging traditional finance with decentralized systems,” Kazemian said in a statement.
The decision to back frxUSD with BUIDL aligns with the growing trend of creating yield-bearing stablecoins, which offer holders financial rewards in addition to stability.
The move also follows a similar initiative by Securitize, the brokerage firm for BUIDL, which proposed backing frxUSD with BUIDL on December 22, 2024.
The frxUSD stablecoin will be pegged 1:1 to the U.S. dollar and collateralized by U.S. government securities.
The proposal is part of a broader trend toward integrating traditional financial assets with DeFi solutions.
Earlier, Ethena Labs launched a BUIDL-backed stablecoin, USDtb, in December, with a market capitalization of approximately $70 million.
Additionally, decentralized exchange Curve Finance announced that users would be able to mint Elixir’s deUSD yield-bearing stablecoin using BUIDL as collateral starting in November 2024.
The growing interest in yield-bearing stablecoins reflects a shift in investor demand, as traditional stablecoins offering no interest face increasing competition from new DeFi solutions.
Tokenization Market Could Reach $16T by 2030McKinsey & Company recently reported that tokenized financial assets have had a “cold start” but are still expected to grow to a $2 trillion market by 2030.
Meanwhile, a report by the Global Financial Markets Association (GFMA) and Boston Consulting Group estimates the global value of tokenized illiquid assets will reach $16 trillion by 2030.
Even more conservative estimates from Citigroup suggest that $4 trillion to $5 trillion worth of tokenized digital securities could be minted by 2030.
Recognizing this potential, major companies are making significant moves in the tokenization space.
Goldman Sachs, for instance, plans to launch three new tokenization products later this year, driven by growing client interest.
Some protocols have played a significant role in driving this growth, particularly in terms of active users.
Digital carbon market platforms like Toucan and KlimaDAO, as well as the real estate tokenization protocol Propy, have experienced substantial user growth.
It is worth noting that both public and private blockchains are witnessing the inclusion of various assets.
Frax Finance approved FIP-418 to use BlackRock’s BUIDL token as frxUSD collateral. The partnership bridges decentralized finance with traditional asset security. The Frax community has approved FIP-418, allowing BlackRock’s BUIDL token to collateralize the frxUSD stablecoin. This proposal passed unanimously after six days of voting, Frax Finance announced on Thursday.
BlackRock’s BUIDL token, a tokenized money market fund, invests in U.S. Treasury bills, cash, and repurchase agreements. It ensures stability, liquidity, and reduced counterparty risk for frxUSD holders. With over $10.4 trillion in assets under management, BlackRock adds trust to the partnership.
Frax Finance founder Sam Kazemian emphasized the synergy between blockchain transparency and BlackRock’s treasury reliability. He called the collaboration a milestone in bridging decentralized and traditional finance. The frxUSD stablecoin will be pegged 1:1 to the U.S. dollar, backed by U.S. government securities.
Are BUIDL and Yielding Stablecoins the Future? Securitize, the brokerage firm for BlackRock’s BUIDL, initially proposed using BUIDL as collateral on December 22. The stablecoin also supports fiat conversions through Paxos, making it accessible to retail and institutional users.
Frax Finance’s efforts align with its pursuit of a U.S. Federal Reserve Master Account. This would further legitimize frxUSD as a secure and functional stablecoin in both DeFi and CeFi spaces.
The move follows a growing trend of yield-bearing stablecoins. These stablecoins combine stability with financial rewards, attracting investors seeking alternatives to non-yielding options. Curve Finance and Ethena Labs have also utilized BUIDL for stablecoins like USDtb and deUSD.
McKinsey projects tokenized assets to reach $2 trillion by 2030. Other estimates suggest values between $4 trillion and $16 trillion by the same year. Major firms, including Goldman Sachs, continue to expand tokenization projects, signaling massive growth potential.
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Sam Kazemian, founder of Frax Finance, outlined the development and goals of FraxUSD, a decentralized stablecoin designed to integrate with both traditional finance and decentralized ecosystems.
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Episode DescriptionThe upgraded FraxUSD offers redeemability through custodians like BlackRock and SuperState while providing competitive yields through diversified strategies. Kazemian described Frax’s broader vision as building a digital economy anchored by its flagship stablecoin and Fraxstool, a high-performance Ethereum Layer 2.
Frax Finance has proposed a $5 million investment in World Liberty Financial (WLFI), a DeFi platform closely associated with Donald Trump’s administration. The move aims to position FRAX as a leader in the growing U.S.-based decentralized finance (DeFi) ecosystem. A potential follow-up investment of $10 million is also being considered, contingent on the success of the partnership.
Frax Finance Proposes $5M Investment In WLFI The interest in U.S.-origin crypto initiatives has been fueled by the election of Donald Trump as the 47th President of the United States. The current administration has shown a great interest in the development of blockchain and cryptocurrencies. World Liberty Financial, a DeFi project that is closely aligned with Trump’s agenda of a crypto economy centred around the United States, has become a major player in this regard.
Frax Finance, which focuses on the algorithmic stablecoin, plans to incorporate frxUSD into the WLFI system. The proposal focuses on how the business can leverage on the governance structure, distribution network and partnership of WLFI.
As per the proposal, WLFI aims to bring millions of Americans into DeFi and help US based crypto projects. The first $5 million investment would enable FRAX to purchase WLFI tokens and thus become shareholders in its governance framework. A second phase of up to $10 million may be available if there is evidence of achievement of the initial goals.
WLFI’s Expanding Influence in U.S.-Based DeFi Though Trump had been vocal on the campaign trail about supporting cryptocurrency and blockchain technologies, he has not yet officially mentioned Bitcoin or any other virtual currency since taking the oath of office. This has raised eyebrows especially given that his administration was known to have pledged support to U.S based digital currency projects. Nevertheless, the actions of WLFI seem to be aligned with the pro-crypto agenda and are expanding actively in the DeFi sector.
The platform has recently added the leading DeFi tokens to its portfolio, including Ethereum (ETH), Chainlink (LINK), AAVE (AAVE), and Wrapped Bitcoin (BTC). According to the data, the ETH assets of WLFI have reached more than $184 million and the company also has sizable investments in other products.
In its governance structure, the WLFI community has the ability to participate in decision making within the ecosystem. For instance, Ethena Labs recently used WLFI’s governance platform to propose the use of its stablecoin as collateral in Aave. Similar governance options are also being considered for the frxUSD that can further enhance the use of FRAX within the WLFI domain.
FRAX’s Strategic Position in the Partnership Frax Finance has a unique position in this proposed collaboration due to its U.S. roots and co-founder Stephen Moore’s connection to the Trump administration.
Moore, a former economic advisor to Donald Trump, lends credibility to FRAX’s alignment with a U.S.-centric DeFi agenda.
The proposal outlines that this partnership would elevate FRAX’s status within the DeFi community. Integrating frxUSD as collateral in WLFI’s ecosystem could potentially increase adoption among millions of WLFI’s users. Additionally, FRAX stands to benefit from WLFI’s governance model, which could provide strategic influence over future decisions.
Key NotesFrax Finance proposes a $5 million investment in Trump-aligned DeFi platform WLFI.The partnership aims to integrate frxUSD into WLFI’s ecosystem, boosting adoption.The proposal has sparked both support and criticism within the crypto community. Renowned DeFi protocol Frax Finance has proposed a $5 million investment in World Liberty Financial (WLFI), a decentralized finance platform tied to newly elected US president Donald Trump. The proposal, aimed at strengthening FRAX’s position in the US-based DeFi ecosystem, also includes a potential $10 million follow-up investment based on the success of the collaboration.
Notably, if approved, the investment would see Frax Finance acquire WLFI tokens, securing a stake in its governance framework. The partnership is expected to integrate Frax’s algorithmic stablecoin, frxUSD, into WLFI’s growing ecosystem, enhancing its adoption among millions of potential users. However, the proposal has drawn mixed reactions from the community.
WLFI’s Growth and Political Ties WLFI has emerged as a significant player in US-centric DeFi, closely aligning its vision with the current administration’s pro-crypto stance. Despite President Trump’s silence on Bitcoin since taking office, WLFI’s actions signal a commitment to advancing US-based crypto projects.
WLFI has built a robust portfolio, including leading DeFi tokens such as Ethereum ETH $1 652 24h volatility: 1.3% Market cap: $199.35 B Vol. 24h: $14.70 B , Chainlink LINK $7.51 24h volatility: 1.6% Market cap: $5.62 B Vol. 24h: $297.75 M , and AAVE AAVE $82.10 24h volatility: 14.5% Market cap: $1.25 B Vol. 24h: $481.31 M , with ETH assets surpassing $184 million. Its governance structure allows community-driven decision-making, positioning WLFI as a decentralized yet strategically guided platform. Frax Finance’s involvement could bring additional credibility and functionality to this framework, particularly by introducing frxUSD as collateral in WLFI’s ecosystem.
Interestingly, Frax’s co-founder Stephen Moore is a former economic advisor to President Trump. This connection also allows the project to focus on the deep roots of US-centric blockchain strategy.
Community Reactions While the proposal has garnered praise on social media platforms like X, with some calling it a “huge” step, it has also faced criticism from within Frax’s governance forum. Detractors argue that investing $5 million in a project valued at $5 billion without a proven track record is risky. Concerns have also been raised about political associations alienating users who oppose the Trump administration, potentially hindering adoption.
Some community members voiced fears about the financial implications for Frax Share (FXS) holders, as the investment could create significant sell pressure on the token. Additionally, the WFLI token has recorded a sharp 300% increase in its price during the pre-sale. This has sparked concerns about early investors dumping their holdings after the launch, further destabilizing the market.
Meanwhile, the FXS token price dropped 10% after the proposal announcement. It is currently trading around $2.74 with a market cap of $240 million.
The path forward hinges on navigating community concerns and analyzing the partnership’s tangible benefits.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
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With a background in finance and a passion for innovation, Anisha has been covering the ever-evolving world of crypto for over four years. Her deep understanding of the crypto market have made her a trusted source for analysis and news. Whether it's dissecting the latest trends or decoding whitepapers, Anisha is dedicated to bringing clarity to the world of digital assets.
Donald Trump-tied WLFI has attracted decentralized stablecoin protocol Frax Finance's $10 million proposal.
Frax Finance has proposed a $5 million investment in WLFI – the native token of World Liberty Financial (WLFI), a decentralized finance (DeFi) platform tied to US President Donald Trump. The main objective behind this move is to position itself as a leading player in the “Made in USA” DeFi ecosystem.
The proposal, which was presented for community feedback, also includes an additional $5 million follow-on investment subject to the partnership’s success. This makes a potential total commitment of $10 million.
Fuels Frax Finance’s Bet on WLFI Frax Finance claims that World Liberty Financial (WLFI), which is built on Aave, is well-positioned to benefit from the Trump administration’s pro-crypto stance. WLFI is described as a key project aimed at introducing millions of Americans to DeFi, focusing on US-based initiatives and partnerships with companies like Chainlink and Ethena Labs. With $70 million invested in prominent DeFi assets such as Ethereum (ETH), Wrapped Bitcoin (WBTC), and Chainlink (LINK), WLFI has established a notable presence in the sector in a very short duration.
In addition to Frax Finance’s strategic alignment with WLFI to strengthen its status as a premier US-origin stablecoin, the decentralized stablecoin protocol is also co-founded by Stephen Moore, who happens to be a former economic advisor to President Trump.
By integrating FRAX’s frxUSD stablecoin as collateral within WLFI’s platform, Frax said that the focus is also on expanding its distribution, gaining access to millions of potential users, as well as influencing key governance decisions within the WLFI framework.
With WLFI’s valuation already surging from $1.5 billion to $5 billion, the investment offers potential for significant appreciation, particularly if WLFI succeeds in its mission to drive mass DeFi adoption under the Trump administration’s pro-crypto stance.
Justin Sun Deepens Ties with WLFI Trump unveiled World Liberty Financial in September last year to simplify access to financial services by removing intermediaries. Despite a rocky start, the project’s cumulative sales soared to $300 million by January 23, according to data compiled by Dune Analytics.
You may also like: Donald Trump Launches US Quantum Push With Two Executive Orders Is Bitcoin (And Peace) In Trouble as Trump Warns Iran of Fresh Strikes? Trump Says ‘You’re Welcome’ as Oil Is Flowing and Prices Are Dumping This week, Tron founder Justin Sun announced increasing TRON DAO’s stake with an additional $45 million investment, bringing the total to $75 million. Previously, Sun made a $30 million token purchase in November last year which made him the biggest stakeholder in the platform. WLFI later confirmed his appointment as an adviser the next day.
Bitcoin, Raydium, and Frax dominate crypto discussions as volatility, governance changes, and major BTC acquisitions drive market sentiment.
According to Santiment, Bitcoin (BTC), Raydium (RAY), and Frax (FRAX) are currently at the center of social media discussions.
Much of the growing discourse is focused on market volatility and governance changes within the crypto ecosystem.
The Top 3 Trending Tokens Santiment’s February 25 report reveals that BTC is getting attention due to a recent acquisition from Michael Saylor’s Strategy (formerly MicroStrategy).
The firm purchased 20,356 BTC for approximately $1.99 billion, increasing its total holdings to 499,096 BTC bought for around $33.1 billion. This investment, alongside a yield of 6.9% YTD 2025, has been widely discussed within the crypto market, particularly regarding its impact on the asset’s price fluctuations.
RAY is trending following a recent 29% decline in a day and a 50% slump since Friday that was caused by rumors of a competing platform launching its own automated market maker (AMM). This speculation has raised concerns over liquidity shifts within the Solana ecosystem, leading to increased investor attention toward the token.
Pump.fun is reportedly testing an AMM that, if implemented, could reduce the platform’s reliance on Raydium. The decentralized exchange currently facilitates trading for tokens launched on the Solana meme coin maker.
FRAX has also been a focal point in conversations, with debates surrounding tokenomics, governance, and inflation. Various proposals have been introduced regarding changes to the coin’s emissions, branding, and incentive mechanisms.
You may also like: Brutal Bitcoin Liquidation Cascade Imminent Below $59K, Warns Analyst Mining Profits Dry Up Across Bitcoin, DOGE, LTC, and BCH Saylor Should Stop Buying Bitcoin, Says CryptoQuant Ongoing discussions are centered on the token’s inflationary nature and relationship with FXTL and the potential impact these changes could have on its value and utility within the market.
Other Trending Cryptocurrencies on Santiment’s List The blockchain analytic firm also highlights Ethereum (ETH), Frax Shares (FXS), and Kendu Inu (KENDU) as trending digital assets. ETH has seen increased discussions following its association with GrokAI3.0, a new project focused on advancements in AI technology and its potential financial implications.
FXS, which is linked to FRAX, has also been widely mentioned, with many raising concerns about its potential dilution and implications for liquidity and value.
On its part, KENDU has gained attention as part of a growing community-driven approach to digital assets. According to Santiment, talks around it largely highlight the importance of strong group bonds and collective effort over speculative trading.
The token has been compared to cryptocurrencies like Shiba Inu (SHIB) and Dogecoin (DOGE), with enthusiasts emphasizing its long-term potential as the market evolves. Some believe it represents a shift toward community-focused investments rather than gambling and pump-and-dump schemes.
With EIP 1559 activated, Ether's economic model became similar to that of tech stocks, while Bitcoin (BTC) solidified its "store of value" status. That was a major mistake for Ethereum that damaged ETH, Frax and Everipedia founder says.
Ethereum's network utility fails to catalyze ETH priceEthereum (ETH), the largest smart contracts platform, remains "amazing" and is still on its way to becoming a major issuance layer in the world. At the same time, this inspiring tech journey has nothing to do with ETH price performance, Frax's Sam Kazemian shared on X.
This has been my thesis: Ethereum the network is amazing & going to be the major issuance ledger of the world. But very little, if any, of that value will be captured by the $ETH asset (due to ETH pivoting to a P/E DCF tech stock model). Empirical validation: https://t.co/91N2Sx8Qg6
— sam.frax (@samkazemian) April 10, 2025 As Ether (ETH) keeps disappointing its community, Kazemian sees the wrong narrative as a root cause of its underperformance. With periodical token burn events introduced by EIP 1559 activation on Aug. 5, 2021, ETH pivoted to the wrong utility model:
Biggest mistake was changing the social Overton window of EIP1559 burns as revenue/stock buybacks instead of 'ETH is digital gold/silver/oil like $BTC & some of the commodity gets used up every block as part of the design." Instead, it's now more tech stock instead of BTC-like.
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Also, he opined that, if an EIP 1559 analogue was implemented in Bitcoin (BTC), the "digital gold" narrative of BTC maxis would also be damaged.
As such, with its P/E DCF (price-to-earnings discounted cash flow) valuation model, the ETH cryptocurrency fails to benefit from the battle-tested utility of its underlying blockchain.
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As covered by U.Today previously, EIP 1559 with its fee burn events was the most radical upgrade of Ether tokenomics ever.
ETH/BTC routinely finds new low; is it over for Ether?Ethereum's (ETH) underperformance compared to major cryptocurrencies is in the spotlight for the global crypto community.
In his thread, Nic Puckrin, Coin Bureau founder and CEO, shared some reasons for this painful situation. He noticed that the average ETH owner bears paper losses right now.
Ethereum is having a rough year.
With ETHBTC hitting fresh 5-year lows, the data tells an uncomfortable story.
Will the bleed continue?
Here's what's really going on 👇
— Nic (@nicrypto) April 11, 2025 Ethereum (ETH) has lost its narrative battle to Bitcoin (BTC). Other L1s are eating its lunch when it comes to smart contracts deployment. Even Ether-based L2s siphon liquidity and damage ETH's value.
Institutional money — based on spot ETF performance in the U.S. — clearly chose Bitcoin (BTC) over Ethereum (ETH). Also, it is highly unlikely to benefit from monetary injections globally.
That's why more blood might be ahead for the ETH/BTC pair.
Today, on April 12 in early morning hours, ETH/BTC hit another bottom at 0.18666. It means that 1 Bitcoin (BTC) is now equal to 53.5 Ethers. This is the lowest rate for ETH/BTC since early 2020, data says.
In a positive development for the crypto community, the individual responsible for the GMX exploit accepted the platform’s bounty and returned over $40 million worth of assets stolen from the project.
Crypto Hacker Takes $42 Million From GMX On Friday, the recent GMX V1 exploit ended on a happy note after the individual responsible for the incident turned into a white-hat hacker. Perpetual and spot crypto exchange GMX lost over $40 million on Wednesday when an attacker exploited a vulnerability in the protocol’s first version on Arbitrum.
According to online reports, GMX V1’s vault contract had a vulnerability that allowed the attacker to manipulate the GLP token price through the system’s calculations.
Blockchain security firm SlowMist explained that “The root cause of this attack stems from GMX v1’s design flaw, where short position operations immediately update the global short average prices (globalShortAveragePrices), which directly impacts the calculation of Assets Under Management (AUM), thereby allowing manipulation of GLP token pricing.”
Through a reentrancy attack, they successfully established massive short positions to manipulate the global average prices, artificially inflating GLP prices within a single transaction and profiting through redemption operations.
As a result, approximately $42 million worth of assets, including Legacy Frax Dollar (FRAX), wrapped bitcoin (WBTC), wrapped ETH (WETH), and other tokens, were transferred from the GLP pool to an unknown wallet.
The perpetual crypto exchange halted GMX V1’s trading and GLP’s minting and redeeming on both Arbitrum and Avalanche to prevent another attack and protect users’ funds. However, they clarified that the exploit was limited to GMX’s V1 and its GLP pool. GMX V2, its markets, or liquidity pools, and the GMX token were not affected and remained safe.
White-Hat Claims $5 Million Bounty Following the incident, GMX sent a message on-chain and on X offering a $5 million white-hat bounty to the attacker, claiming that their abilities were “evident to anyone looking into the exploit transactions.”
GMX’s team noted that returning the funds within the next 48 hours and accepting the bounty would allow the hacker to “spend the funds freely,” instead of taking additional risks to access them. They also vowed not to pursue any legal action and to assist the exploiter in providing proof of source for the funds if it is ever required.
Today, the exploiter responded in an on-chain message, accepting the bounty and starting the return process. As Lookonchain reported, they initially returned $10.49 million worth of FRAX on Friday morning.
GMX exploiter accepts white-hat bounty. Source: Lookonchain on X Meanwhile, another $32 million worth of assets had been swapped into 11,700 ETH, which are now valued at $35 million after the King of Altcoins’ price jumped to the $2,990 mark.
In the following hours, the hacker returned 10,000 ETH, worth $30 million, keeping only 1,700 ETH, valued at $5.2 million, as the bounty.
GMX later confirmed that the funds have now been safely returned and thanked the white-hat hacker for their actions, ultimately giving a positive turn to the incident.
Lastly, they informed users that “contributors are working on a proposed distribution plan for presentation to the GMX DAO and will share more information shortly.”
GMX token trades at $13.24 in the one-week chart. Source: GMXUSDT on TradingView Featured Image from Unsplash.com, Chart from TradingView.com
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If you walk into a crowded place and shout Binance, there is probably someone who’s going to open their Binance app to check what’s going on. Centralized exchanges like Binance, Coinbase, and HBTC dominate the crypto space. Their reach in the market is an indication that we are already in the crypto future.
Statista reported earlier in the year that collectively, Binance, HBTC, and Hydax Exchange process $54 billion worth of transactions every 24 hours, almost a third of the global exchange volume.
As crypto adoption continues to rise, a corresponding surge in the decentralized Finance (DeFi) sector has driven interests in DEXes to new heights. But there will always be problems that come with disruption. In the case of DEXes, the widespread problem has always been that decentralization comes at the cost of usability.
The Problem With DEXes And The Rise Of Uniswap Decentralized Exchanges have quickly emerged as solutions to the problems plaguing centralized exchanges. For example, several centralized exchanges have been reported to have technical issues when the crypto market booms. The overreliance on cloud providers like AWS makes it difficult to prepare for these downtimes. Also, abuse of power is a regular occurrence.
The QuadrigaCX scandal is a good reminder of this: $190 million in customer cash stored by the Canadian exchange disappeared with the CEO when he died in 2019, as it was all held on a single hardware wallet with no one knowing the password but the deceased.
Decentralized cryptocurrency exchanges are designed to address issues that centralized exchanges have. They are peer-to-peer (p2p) markets directly built on the blockchain, allowing traders to keep and manage their funds independently. Instead of the exchange or any other middleman directing the flow of money, such as a bank or an internet payment gateway, this procedure is controlled by a series of smart contracts that keep track of transactions on the blockchain on which it is built.
But DEXes also pose a series of problems Many exchange operations on DEXes, such as deposits (also known as locking funds), placing orders, and finalizing trades, require Ethereum transactions on DEXes, resulting in an annoying situation where almost every action you take on a DEX pops up a Metamask window asking for approval, often also requiring pausing while in-between transactions.
In addition, Liquidity is frequently inadequate due to these exchanges’ poor user interface. Because order books are thin and spreads are big, prices are often lower than on a centralized exchange. Most DEXes today charge a premium for their privacy, security, and decentralization features.
Hence, Uniswap Uniswap, unlike other DEXes, does not employ order books and instead relies on an algorithmic pricing method to provide liquidity and minimal spreads. This price method is operationally simple, making Uniswap’s smart contract operations very straightforward. This has the added benefit of increased security, as well as lower gas costs.
Uniswap is an Automated Market Maker (AMM) that establishes token prices using a simple algorithm: x * y = k. The amount of ETH in the pool is represented by x, the number of tokens is represented by y, and k is constant in this equation. When ETH is used to purchase a token, x increases, y decreases, and the token price rises. Users do not input a price they want to purchase or sell at, unlike traditional exchanges. Uniswap works in a similar way to spot markets, where traders can only buy and sell at the current price in real-time.
Built on the Ethereum blockchain, each ERC-20 token traded on Uniswap has a pool of Ether and a pool of the token. The ratio of the size of the ETH pool to the size of the token pool determines the price of the token at any given time.
However, despite the radical departure from the status quo by Uniswap, there are other DEXes that offer alternative features that Uniswap doesn’t offer.
Dexes bringing something new to the table. While Uniswap is popular in the crypto world, there are other DEXes that serve as viable alternatives or offer entirely different features. Here are some of them:
1. Balancer: like Uniswap, Balancer is an AMM that allows users to swap ERC20 tokens. However, as the name suggests Balancer is a portfolio management tool balancing assets in a liquidity pool based on a given ratio.
Balancer has been a critical component of a number of highly successful DeFi initiatives, owing to its dependability, usability, and adaptability. Uniswap’s liquidity pools are always 50:50, whereas Balancer lets liquidity suppliers specify any ratio they choose (such as 98:2).
As a result, many liquidity mining sites choose Balancer over Uniswap since it lowers the danger of temporary loss. Balancer still maintains one of the greatest trade volumes of any decentralized exchange, despite its recent decline in popularity.
2. Solrise: Built on Solana, Solrise is non-custodial and decentralized fund management and investment protocol that helps democratize the investment space. On this DEX, anyone can open a fund or invest.
3. MakiSwap: This DEX runs on the popular AMM protocol as a yield farming platform built on the Huobi Eco Chain. It is the first DEX that will offer a variety of trading experiences including limit orders; charts; analytics; order books, etc. The DEX is a product of the Unilayer Eco-system which allows token holders to also reap rewards.
4. Tezos Liquidity Baking: It is the first protocol layer DEX, giving it an immediate advantage over application layer DEXs such as Uniswap by allowing rewards to be distributed in protocol token rather than application token.
5. Alkemi Network: Unlike the aforementioned, Alkemi Network is a unique DEX in that it does something no other DEX platform does: it fuses CeFi institutions with the DeFi space. It Offers state-of-the-art cryptography and liquidity for financial institutions and individuals to access DeFibanf earn on their Ethereum-based digital assets.
Alkemi Network: Merging CeFi to DeFi There seems to be a rift between Centralized Finance and Decentralized Finance in the crypto space. Thought mostly based on the features both spaces offers, the dichotomies overlaps. But with Alkemi Network, the differences are bridged and fused.
Alkemi is a sophisticated liquidity network created with institutional and retail investors in mind to enable them to access and earn on their Ethereum-based digital assets. It’s the first liquidity platform to allow KYC permissioned and permissionless liquidity pools governed by one network utility token. The network allows participants to remain complaint by making them undergo KYC verifications before being allowed to interact within the pool.
The major offering of this DEX is Alkemi Earn, a permission liquidity pool where trusted counterparties can borrow and lend in wBTC, USDC, DAI, and ETH. Users can then lend and borrow and are also rewarded through the liquidity mining program.
Why Alkemi Network Is Different? There are numerous projects in the DeFi space. But what makes Alkemi stand out is their Alkemi Earn. With earn, users will not only be able to invest, they will be able to lend and borrow while also earning rewards through the liquidity mining program.
Earn pools can also be implemented into centralized exchanges to give consumers who aren’t DeFi power users an embedded experience.
Another thing to consider is that Alkemi Network has an accessible User interface which makes it more accessible for liquidity mining programs. The open-access for all kinds of investors makes it a true DeFi experience.
The KYC used by Alkemi is also industry standard. There’s a rigorous screening of liquidity providers that helps to fortify the borrowing and lending protocol and code.
Bringing it together As the DeFi space continues to expand, new projects will keep popping. The institution-grade liquidity network will help bridge CeFi and DeFi to allow seamless transactions including borrowing, lending, and investing.
Update: Following the publication of this article, Huobi has updated its transparency page to include new addresses that contain the collateral for all of the wrapped tokens mentioned. These show that all of the tokens are fully collateralized.
"To enhance HBTC holders’ confidence, we have been gradually migrating HBTC assets to Huobi Trust Company Limited for digital asset custody," said a spokesperson for Huobi via email.
Huobi’s version of wrapped bitcoin isn’t living up to the transparency that it promised. The $800 million of assets that are backing the crypto exchange’s token are supposed to be sitting in clearly market wallets; except they’re not.
Instead, the money appears to have been spread among other exchange wallets, also owned by Huobi. The problem here is not that the money is necessarily gone; it’s plausible that Huobi is using its exchange hot wallets to make it easier to process transactions. The issue is that market observers cannot see for themselves whether the token is still backed.
For all we know — from checking Huobi’s official transparency page — the $800 million of outstanding Huobi Bitcoin (HBTC) is backed by less than $30,000.
The Block reached out to Huobi for comment but — after an initial response — the exchange stopped replying to follow up emails. The exchange did not provide any explanation for why the bitcoin was moved, nor would answer whether HBTC was still fully backed.
'Transparent and verifiable’ Huobi created HBTC in February 2020 as its proprietary form of wrapped bitcoin. Wrapping bitcoin is a process where you take bitcoin on the Bitcoin blockchain, lock it up in a wallet and issue a tokenized version of it on another chain, in this case on Ethereum.
At the time, Huobi said HBTC would be “transparent and verifiable,” enabling anyone to authenticate the assets on both the Bitcoin and Ethereum blockchains.
For a while, it seemed that this was the case. In early August 2021, the supply of HBTC was around 31,000 and Huobi’s two official wallets contained around 39,700 bitcoin.
Yet between August 20 and August 26 of last year, practically all of this collateral was moved out of both wallets. The funds were split into three sums and all were sent to this wallet. Each was then repeatedly shifted to new wallets, with small amounts siphoned off at each turn.
Huobi also created wrapped assets for six other cryptocurrencies: bitcoin cash (BCH), polkadot (DOT), tezos (XTZ), bitcoin satoshi’s vision (BSV), filecoin (FIL) and litecoin (LTC). Out of these, only Huobi’s version of BSV (HBSV) is fully backed by collateral in the official wallets. The transparency page shows no data for its version of filecoin at time of writing.
All the assets have a combined total supply worth $865 million but yet just $5.5 million in collateral in the official transparency wallets.
How this compares to others HBTC is failing to offer the transparency provided by Wrapped Bitcoin (WBTC), the most common form of wrapped bitcoin.
WBTC is run by a conglomerate of crypto businesses, including Compound and BitGo. The project’s website provides a list of 268 bitcoin wallets that contain its $4.8 billion of bitcoin — and these wallets do indeed contain that amount of the cryptocurrency. This enables those using the wrapped token to know that it’s fully backed.
Still, not all wrapped bitcoin projects offer this level of transparency. RenBTC, another version of wrapped bitcoin with a market cap of $100 million, initially used the crypto data service Chainlink to show its proof of reserves. But it now just has a statement on its dashboard that says how much it has in reserve — a sum equal to the amount issued on its network — and doesn't provide any links to where the money is kept.
What's complicated about the way renBTC looks after its collateral is that every time some of the collateral is redeemed, it sends that person those funds and sends the remaining assets to a new wallet. As a result, it can’t simply provide a list of wallets where the funds are stored, since it would have to be constantly updating the list.
This may shed some light on Huobi’s processes, as it also constantly spreads the funds to new addresses while siphoning off a little each time. Perhaps the exchange adopted this system but failed to implement a way to track the collateral, since it requires either using Chainlink or setting up an automated system.
Either way, Huobi is — for now at least — failing to offer the transparency it originally promised.
Adventurers, the time has come to take your first steps into the Echo Realm! We are opening the gates for a limited access phase to test the core features of Mirandus: Eternal Night.
This isn’t the official release yet—this is a critical testing phase where you get to experience the thrill of the game firsthand and help us shape the final experience. But make no mistake: the dangers lurking within The Absence are very real, and we need your help to conquer them!
Here is what you can expect to test during this exclusive event:
🌑 Brave the Eternal Night Step into our persistent 3D hex-based world as an Echo, the base character available to all players. (Equipping Exemplars will be unlocked in a future update!) Test your survival skills by managing your Energy and HP as you navigate the heavy, corrupting darkness.
⚔️ Explore → Risk → Gather → Return Alive Experience our unforgiving core gameplay loop. Venture out to gather in-game resources, trigger Hazard events, and engage in turn-based auto-battles against mutated creatures. Remember the golden rule: if your HP hits 0, your gathered non-NFT inventory may be lost unless you retreat to the safety of a lighted Town to secure it!
🔥 Accumulate and Prepare: The Store & Boss Event are Coming! Do not waste this head start! Use this early experience to stockpile resources, craft supplies, and strengthen your inventory. You are going to need every item you can get your hands on because the Store and a massive new Boss Event are coming soon! When the Store officially opens, you will want a vault full of resources to gear up and acquire vital supplies. Stay tuned—these major updates will be arriving soon, and only the most prepared Echoes will survive the boss and walk away with the incredible rewards!
Additionally, Mirandus NFT support is coming soon, with a phased rollout beginning with a core set and expanding over time.
Last week, the GalaChain community was presented with an important decision: how to evolve the network’s economic model to support its next phase of growth.
The vote has now concluded.
The result is in. YES has passed.
This marks a major milestone for GalaChain. With strong support from node operators, the network will move forward with the transition to a disinflationary emission model, bringing fee-sharing, permanent burns, and a long-term economic structure designed for sustainability.
What This Means With the approval of the proposal, GalaChain enters a new phase built around stronger incentives, predictable emissions, and a model aligned with one of the most successful Layer 1 ecosystems in crypto.
The upgrade introduces:
A disinflationary emission schedule starting at 15% with a 15% annual decay A 1.5% permanent emission floor, ensuring ongoing rewards for node operators 50% of all gas fees distributed directly to node operators 50% of all gas fees permanently burned, reducing total supply over time This replaces the previous gap-based model and removes the reflexive minting behavior tied to token burns. From this point forward, every burned token is permanently removed from circulation.
A New Era for Node Operators For node operators, the impact is immediate and meaningful.
Day 1 rewards are expected to increase significantly,based on current assumptions, alongside the introduction of continuous fee-sharing. Network activity now directly contributes to operator rewards.
Combined with the permanent emission floor, this establishes a long-term incentive structure designed to support operator long term participation by node operators.
What Happens Next With the vote approved, the network will begin moving toward implementation of the new economic model. Updates will be shared as progress continues and key milestones are reached.
Mirandus: Eternal Night is a brand new, exclusive early experience set in the Mirandus universe. This is not a replacement for the main Mirandus game. Instead, it is an exciting new adventure designed to give extra utility to your existing Mirandus NFTs. It offers players a fresh opportunity to step into the world, accumulate wealth, and experience a unique survival challenge while expanding the overall Mirandus ecosystem.
The Lore: Survive The Absence
Reality in the Echo Realm is fragile. Following the Great Breach, the old order collapsed, and the original world’s distant sun was replaced by The Absence—a cold, cosmic void that seeks to unmake our world and swallow the land back into the darkness.
In this twisted parallel dimension, you play as an Echo—an unresolved adventurer fighting for the right to exist. Survival cannot be granted by a king; it relies entirely on your personal will. By securing powerful artifacts and placing Deeds, Echoes create localized safe zones that generate light and stop the spawn of mutated enemies. Together, these connected wellsprings of light form a defiant “Constellation of Light” to push back the void.
The Gameplay: Brave the Eternal Night
Step into a persistent 3D hex-based world where every movement is a calculated risk.
Explore → Risk → Loot → Return Alive: Experience our unforgiving core loop. Venture out from the safety of the light to harvest resources, trigger hazard events, and engage in turn-based auto-battles against roaming enemies. Manage Your Survival: Your survival depends on managing your Energy and HP. Traveling through different terrain types costs Energy, and entering combat with no Energy will severely reduce your damage and attack speed. Secure Your Loot: Make no mistake, the dangers are real. If your HP hits 0, your gathered non-NFT inventory is lost to the void. You must retreat to the safety of a lighted Town to secure your hard-earned rewards! Where to Play
Mirandus: Eternal Night is built for accessibility. It is a WebGL browser-based experience, meaning you can jump straight into the action on your PC without needing to download a heavy client. (Please note: This is a desktop browser experience and is not currently supported on mobile devices).
How to Connect & Your NFTs
To start your journey, you will currently need to connect using the MetaMask extension to log in.
We are actively developing full Gala Wallet login integration, which will be implemented very soon! Additionally, please note that we are not supporting all Mirandus NFTs right out of the gate. We are working hard to bring your collections into the game gradually as we expand the world in future updates.
What’s Next on the Horizon?
This early sneak peek is your chance to get a massive head start and hoard resources before the real threats arrive. Here is what is coming soon:
The Gauge of Stability (Boss Event): Our massive world boss and bounty system! When the Gauge fills, a colossal anomaly will be summoned from the void. The warrior who deals the most damage claims the vast majority of the bounty, and the one who strikes the final blow reaps a generous remnant. The Store: Soon you will be able to purchase vital supplies and equip legendary gear to gain massive passive buffs in the auto-battler arena. NFT Visualizer: We are building the capability to progressively support more Mirandus NFTs, expanding the roster of Exemplars and items you can bring into the Echo Realm. Gala Login Integration: Seamless ecosystem access is on the way to make connecting faster and easier than ever! Play Mirandus Eternal Night
Today, we continue our Games Spotlight series on Gala News. This time, we’re featuring City Under Siege, a third-party title developed by Axtrel Studios, where strategic decisions shape the fate of your city under constant threat.
City Under Siege The enemy is at the gates. You are the city’s last line of defense. City Under Siege is an intense tower defense game where wave after wave of hostile forces pour through the streets, hellbent on reaching Town Hall and burning your city to the ground. Build, upgrade, and strategically place defensive towers along every approach — from rapid-fire turrets and laser emplacements to missile batteries and EMP generators. Each wave brings tougher enemies, new unit types, and relentless escalation. Adapt your defenses on the fly, unlock powerful abilities, and hold the line at all costs. If Town Hall falls, the city falls with it. How long can you survive?
Defend Town Hall against endless waves of increasingly powerful enemies Build and upgrade a wide arsenal of towers — turrets, lasers, missiles, and more Strategic placement matters — control choke points and cover every approach Escalating difficulty with new enemy types, abilities, and boss waves Unlock powerful commander abilities to turn the tide in desperate moments Compete on global leaderboards for the longest survival streaks Play City Under Siege
This is a general announcement and marketing communication. Products and services referred to here may not be available in your region. Fellow Binancians, Binance is thrilled to launch a Gala (GALA) Trading Tournament where eligible users will have a chance to share a total prize pool of 150,000 USDC in token vouchers! In addition, Binance is introducing an “Early Bird Boost” multiplier, which aims to reward users for trading earlier. Promotion Period: 2026-05-08 10:00 (UTC) to 2026-05-15 10:00 (UTC) Join Now Eligibility: All verified new, regular users and all Binance VIP users can participate.Liquidity providers in the Binance Spot Liquidity Provider Program and Binance Brokers are not eligible to participate. Eligible Altcoin Trading Pairs Trading pairs: GALA/USDT, GALA/USDC Early Bird Boost Multiplier: During the Promotion Period, users will be assigned different multipliers based on the time they complete their trades. The multiplier decreases over time — the earlier you trade, the higher the multiplier and the higher your effective trading volume. Daily Effective Trading Volume = Actual Daily Trading Volume * Early Bird Boost Multiplier Note: Total trading volume for the competition is the sum of the Daily Effective Trading Volume during the Promotion Period. The leaderboard on the landing page will display the Total Effective Trading Volume. The daily Early Bird Boost multipliers during the Promotion Period are as follows: Date (UTC）Multiplier2026-05-08 10:00 to 2026-05-09 10:002x2026-05-09 10:01 to 2026-05-10 10:001.8x2026-05-10 10:01 to 2026-05-11 10:001.6x2026-05-11 10:01 to 2026-05-12 10:001.4x2026-05-12 10:01 to 2026-05-13 10:001.2x2026-05-13 10:01 to 2026-05-15 10:001x How to Participate: Click the [Join Now] button on the landing page to register.Total Effective Trading Volume reaches at least 500 USD equivalent in any of the aforementioned eligible pairs on Binance Spot during the Promotion Period. Users who do not meet this threshold will not qualify for any reward under this Trading Volume Tournament. Reward Structure: Rankings Based on the Cumulative Trading Volume During the Promotion PeriodReward per Eligible Participant (in USDC Token Vouchers)1st Place7,500 USDC2nd Place6,000 USDC3rd Place4,500 USDC4th Place3,000 USDC5th Place1,500 USDC6th - 20th PlacesAn equal split of 13,500 USDC21st - 50th PlacesAn equal split of 12,000 USDC51st - 200th PlacesAn equal split of 21,000 USDC201st - 1,000th PlacesAn equal split of 21,000 USDCAll Remaining Eligible ParticipantsAn equal split of 60,000 USDC, capped at 5 USDC per user Promotion Rules: Trading volume of any zero-fee trading pairs is excluded from the final trading volume calculation.Transaction or gas fees will be excluded from the final trading volume calculation for the tournament.All eligible buy and sell orders will be counted towards the cumulative total trading volume.Token vouchers will be distributed to winners by 2026-05-29, and will expire within 21 days after distribution. Users will be able to login and redeem their token voucher rewards via Profile > Rewards Hub.The Spot Trading Volume leaderboard is updated at least once every 24 hours. The leaderboard will be displayed on the Spot landing page. Data sync times vary daily but will always be completed by the end of the day.Only users who have met the minimum qualifying trading volume threshold will be displayed on the leaderboard along with their trading volume. Don’t miss out on this opportunity and share in the rewards now! To view more promotions for new listings on Binance, stay tuned to this page for the latest updates and exclusive opportunities. Guides & Related Materials: How to Spot Trade (App / Web) Terms & Conditions: These terms and conditions (“Activity Terms”) govern users’ participation in the activity above (“Activity”). By participating in this Activity, users agree to these Activity Terms, and the following additional terms: (a) Binance Terms and Conditions for Prize Promotions; (b) Binance Terms of Use; and (c) Binance Privacy Notice; all of which are incorporated by reference into these terms and conditions. In the case of any inconsistency or conflict between these Activity Terms, and any other incorporated terms, the provisions of these Activity Terms shall prevail, followed by the following in this order of precedence, and to the extent of such conflict: (a) Binance Terms and Conditions for Prize Promotions; (b) Binance Terms of Use; and (c) Binance Privacy Notice.Only verified users who complete the aforementioned criteria for the tournament by the end of the Promotion Period may receive rewards.This Trading Volume Tournament is available to verified new, regular and VIP users enabled for Binance Spot Trading, subject to product (and where relevant, deposit methods’) availability in users’ regions, and may be restricted in certain jurisdictions or regions, or to certain users, due to legal and regulatory requirements.Reward Distribution:All token voucher rewards will be distributed to eligible, winning users by 2026-05-29.Users will be able to login and redeem their token voucher rewards via Profile > Rewards Hub. All token voucher rewards will expire within 21 days after distribution. Winning users should claim their vouchers before the expiration date, and no replacement reward will be provided. Learn how to redeem a Binance voucher.Please note that the actual value of rewards received by a user is subject to change due to market fluctuation.Token voucher rewards are subject to additional terms and conditions.Rewards are not negotiable nor transferable.Once the available rewards have been allocated to users, no further rewards will be provided notwithstanding that an eligible user may have completed the missions.A user’s trading volume in this Trading Volume Tournament will be calculated after the user has opted-in and will be based on the trading volume (i) in their master and sub-accounts, and (ii) on all Spot products, including Spot Trading, Spot Copy Trading and Trading Bots. API trades are allowed. Binance’s calculation of a user’s trading volume is final.Binance reserves the right to disqualify a user’s reward eligibility if the account is involved in any dishonest behavior (e.g., wash trading, illegally bulk account registrations/logins, self dealing, or market manipulation). Binance further reserves the right to disqualify any participants who tamper with Binance program code, or interfere with the operation of Binance program code with other software.Binance reserves the right at any time in its sole and absolute discretion to determine and/or amend or vary these terms and conditions without prior notice, including but not limited to canceling, extending, terminating, or suspending these activities, the eligibility terms and criteria, the selection and number of reward recipients, and the timing of any act to be done, and all participants shall be bound by these amendments.The commencement and operation of the campaign (including the commencement of the Promotion Period) are subject to the successful listing of the relevant token on Binance Spot. If the listing is postponed or cancelled for any reason, the campaign (including the Promotion Period and reward distribution) may be delayed, amended or withdrawn at Binance’s discretion. Binance will not be liable for any loss or inconvenience caused by such changes.There may be discrepancies between this original content in English and any translated versions. Please refer to the original English version for the most accurate information, in case any discrepancies arise. Thank you for your support! Binance Team 2026-05-08 Disclaimer: USDC is an e-money token issued by Circle Internet Financial Europe SAS (https://www.circle.com/). USDC’s whitepaper is available here. You may contact Circle using the following contact information: +33(1)59000130 and [email protected]. Holders of USDC have a legal claim against Circle SAS as the EU issuer of USDC. These holders are entitled to request redemption of their USDC from Circle SAS. Such redemption will be made at any time and at par value.
The wait is over! Our cyberpunk tower defense and inventory management game, Cybercore Node 99, created by AureonGames and hosted by Gala Games, is officially ready for release. We have thrown out traditional tower defense rules and replaced them with a deep, highly customizable spatial resource puzzle.
If you love games that force you to think strategically about inventory management and building flawless defensive networks to survive endless waves of enemies, the grid is ready for you. Here is everything you need to know to wire up your defenses and climb the leaderboards!
🏙️ Build Your Ultimate Arsenal
Surviving the endless enemy swarms requires more than just placing basic defenses. We have designed a deep combat system where your success depends on combining different components. To give you ultimate control over your strategy, your defenses are split into three distinct, interchangeable elements. By mixing and matching multiple types of each, you can discover powerful synergies and create wildly different strategies to survive:
Weapons (The Foundation): We have multiple weapon types that completely change how your towers acquire targets and output damage. Crucially, every weapon features a specific “magazine size.” This defines exactly how many bullets or projectiles will proc on each weapon cycle, allowing you to choose between unleashing rapid bursts or executing slow, heavy-hitting attacks. Ammo (The Payload): Weapons do not fire on their own! You must connect them to different Ammo types. By swapping your ammo, you change the actual properties of the projectiles, allowing you to adapt your damage output to specifically counter the enemies currently attacking your grid. Addons (The Game-Changers): Instead of boring stat boosts, our Addons provide true mechanical adjustments. You can equip specialized Addons that fundamentally alter how your weapons and ammo behave together to fit your specific strategy. 🧬 Merge to Maximize Power
Your tactical choices do not stop at simply placing components. As the enemy swarms grow stronger, your grid must evolve. By finding and merging identical copies of your Weapons, Ammo, and Addons, you will significantly improve their power and efficiency, turning a basic loadout into an unstoppable defensive network.
🔮 Just the Beginning: Expanding the Grid
This initial launch is only the foundation of what we have planned for Cybercore Node 99. As time goes on, we will be regularly expanding the game with massive content updates. You can look forward to entirely new Weapons, diverse Ammo types, game-breaking Addons, and entirely new ways to play and test your grid-building skills!
🏆 Play Now on Gala & Claim the Leaderboard!
The grid is online and the enemy swarms are approaching. We have fully integrated a global leaderboard to track the players who can survive the most waves with the most optimized defensive networks.
Play Cybercore Node 99 by AureonGames today on Gala Games, experiment with endless loadouts, and claim your spot at the top of the leaderboard!
Hey everyone, the moment we’ve been grinding toward is finally here! We’re hyped to announce that the official Beta for Greedy Cubes is now LIVE!
For those who’ve been following along, you know we’ve been hard at work building a fast, no‑nonsense real‑time multiplayer arena shooter — wallet‑first and skill‑first. The servers are up, the leaderboard is climbing, and we want YOU in the arena.
🎮 What’s Playable Right Now?
Open Arena: Jump straight into the live multiplayer map. Blast enemies, frag any other cube that crosses your path, and steal points off every kill to snowball up the leaderboard.
Persistent Progress: Connect your wallet and your cube, score, and gold are yours forever. Guest mode is available if you just want to taste it first.
Starter Loadouts: A full set of free starter cubes and faces unlocked from day one. Find your favorite, learn the map, dominate.
🗺️ What’s Coming Next? This is just the start. As we collect feedback and tune the core loop, the roadmap is loaded:
Ranked Mode — Win‑to‑Loot Battle Royale: A brand new competitive mode. Drop into the arena, hunt down other cubes, knock them off the map, loot their gold, and survive until the final cube standing. Climb the ranks, claim real rewards.
Expanded Cosmetics: More cubes, faces, trails, and effects.
Your feedback is everything. Found a broken combo? Spotted a bug? Hit a 50‑kill streak? Drop it in the feedback channel — let’s build the ultimate Web3 arena shooter together.
Connect your wallet, grab a cube, and let the carnage begin! ⚔️
Hey everyone, the moment we’ve been building toward is finally here! We are incredibly excited to announce that the official Beta for GALA All-Star Auto Arena (GAAAA!) is now LIVE!
For those who have been following our journey, you know we’ve been hard at work crafting the ultimate Web3 2D turn-based autobattler. The servers are officially running, the event queue is resolving, and we want YOU to be the first to test your strategies.
🎮 What’s Playable Right Now?
Casual Match: Jump into our core asynchronous arena mode. Draft your 5-slot team, merge identical units to level them up, and try to outsmart your opponents to secure 10 wins before losing all your hearts! Private Matches: Want to test your latest team build or settle a score with your friends? Create a private match and battle it out. The Initial Deck: We’ve unlocked the foundational base tier of free units and food items. Dive in, experiment with positioning, and discover the best ability synergies! 🗺️ What’s Coming Next? This is just the beginning of the journey. As we gather your feedback and polish the core loop, we are actively building out our roadmap for future updates:
Challenges & Events: Get ready for special, time-limited modes with unique rulesets to test your true tactical mastery. The “All-Star” NFT Integration: Prepare for the multiverse crossover! As the All-Star in our name suggests, we will soon be integrating Web3 NFT characters from different gaming universes as entirely new sets of cards and packs for you to collect, manage, and draft into your teams. Your feedback is everything to us. Whether you’ve found a completely overpowered combo, noticed a visual bug during a unit’s attack animation, or just want to show off your 10-win team, drop it in our feedback channels. Let’s build the ultimate Web3 autobattler together.
Jump into GAAAA!, set up your board, and let the battles begin! ⚔️
The arena shrinks. The crystals stack. Only one cube walks away. 💎
Join us on June 4th at 10:30 AM PST for the next Greedy Cubes Tournament — a high-stakes, last-cube-standing showdown where every kill steals your victim’s crystals, every disconnect drops loot on the floor, and the survivor takes it all.
Ante up. Survive the zone. Claim your Loot
Join our event and earn 20 crystals 💎 totally free. So you can enjoy our new game mode.
Keep your eyes peeled for surprise rewards during our event.
💎 How Rewards Work 💎
No podiums. No top 3. The crystals ARE the reward.
• Every kill: inherit your victim’s entire crystal stack
• Last cube alive: walk away with everything you accumulated
⚔️ Tournament Details ⚔️
• Date: June 4, 2026
• Time: 10:00 AM PST
• Mode: Tournament
• Entry: 10 💎 Crystals
• Rules: One life. No respawns. Shrinking zone. Sudden death.
• Platform: Greedy Cubes Arena
Sharpen your aim. Track the storm. Hunt the stragglers.
Every crystal on the field has your name on it… if you can take it.
🎮 Play now and start practicing:
Greedy Cubes
See you in the arena. May the greediest cube win. 💎⚔️
A new puzzle experience drops for the Gala community!
Dive into the classic word chain genre, featuring familiar crypto terminology.
Single player mode lets you navigate the Gala Worlds: Townstar, Mirandus, Eternal Night, and more.
Beyond the core worlds, unlock exclusive zones, daily challenges, and weekly community events.
Climb the leaderboard to claim weekly rewards, including exclusive skins, valuable gems, and tactical hints.
Access the game on browser and mobile. Connect directly and play within your MetaMask browser!
Don’t miss rewards for connecting your wallet and discord for the first time!
⭐Mark your calendars! Our inaugural competition,🌊 Deep Sea, kicks off next Monday, June 8 at 16:00 PST / 23:00 UTC. The event runs for one week, concluding on Monday, June 15.
The GREEDY AGENT just deployed on the arena. Every kill raises your wanted level.
Only the deadliest cubes will outrun the heat.
For 24 hours, your rap sheet IS your scoreboard.
Stack KOs. Raise the heat. Outrun the feds.
🔫 NEW: Greedy Agent Hunter Cubes
The more cubes you drop, the more black-suited agents come hunting you down.
• 500 pts → 1 GREEDY AGENT on your tail
• 2,500 pts → 5 agents + coordinated shotgun squads
• They never lose vision. They never give up.
• Die → heat resets. Start cooking again.
📅 Event Details
• Starts: Thursday, June 18 @ 00:00 UTC
• Duration: 24 Hours
• Mode: Open Deathmatch — Most Kills Wins
• Platform: Greedy Cubes Arena
🎟️ Grab your free event coupons in Discord BEFORE the event drops.
🧪 Fresh deployment — drop your feedback on the Greedy Agent in the channel.
⚠️ Final results posted after the 24h window closes.
🎮 Play Greedy Cubes
Run. Gun. Outheat the feds. May the greediest cube win. 🔥💎
Gala Playworks lets creators describe a game idea, generate a playable HTML5 draft, test it in the browser, and publish it with leaderboards, wallet sign-in, and optional reward controls.
Open the AI game maker
Copy the starter prompt
Free Publishing Week: Creators can publish a Playworks browser game without the standard publishing fee through June 12, 2026. Generate a draft, test the loop, and publish during the promo window when the game is ready.
Start during Free Publishing Week
If you are looking for an AI game maker for browser games, the hard part is not only getting code on screen. The useful part is getting a draft you can play, revise, publish, and show to players without leaving the creation flow.
This guide shows how to write a stronger first prompt, what to check after the first generated draft, how to refine the prompt when the game feels wrong, and how public Playworks examples can help you decide what to build next.
Publishing and reward setup should still follow the terms shown in the product. The waived publishing fee does not make creator-funded reward pools, eligibility rules, or other game terms free by default.
Quick start
Pick one core loop players can understand in ten seconds. Describe controls, scoring, fail state, visual style, and level pacing. Generate a draft in the Gala Playworks AI game maker. Test the feel, revise the prompt, then publish when the loop works. Start a browser game draft
What to put in your first AI game prompt A good prompt gives the AI game creator the same details a teammate would need before building a prototype. Name the genre, the player action, the threat, the scoring rule, the fail condition, the level structure, and the style of feedback players should see.
Starter prompt Make a browser arcade game where the player pilots a small lunar lander. Use left and right arrow keys to rotate, up arrow for thrust, and a visible fuel bar. The player earns points for landing softly on marked pads, loses if the ship hits too hard, and gets a final score screen with landing speed, remaining fuel, and total score. Use a dark sci-fi style, simple pixel art, and short instructions on the start screen. That prompt works because it names the controls, physics goal, scoring, failure, result screen, and art direction. The AI has fewer assumptions to make, and you have a clearer checklist for judging the first draft.
Three AI game prompts to try Use these as starting points, then change the theme, controls, enemies, score rules, or win condition. The best first game idea is small enough to test quickly and specific enough that the result can be judged.
Lunar landing score chase arcade
Make a lunar lander game with one-screen levels, limited fuel, landing pads with different score multipliers, and a leaderboard score based on soft landing speed, remaining fuel, and number of safe landings.
Top-down tank defense action
Make a top-down tank defense game where the player protects a base from waves of drones. Use WASD movement, mouse aiming, upgrade choices between waves, and a score bonus for keeping the base above 75% health.
Space wave survival shooter
Make a browser space shooter with short waves, collectible shields, enemies that enter from clear warning lanes, and a final results screen showing wave reached, enemies destroyed, damage taken, and score.
How to improve the first draft The first generated game should be treated like a playable draft. Run it, find the part that feels weakest, then ask for a specific revision. Broad feedback like “make it better” is less useful than changing one rule, speed, enemy behavior, or score moment at a time.
Weak revision prompt
“Make the game more fun.”
Better revision prompt
“Reduce player acceleration by 20%, add a fuel warning when fuel drops below 25%, make the landing pad wider in the first level, and show a score breakdown after each attempt.”
ProblemPrompt fixPlayers do not understand the goal.Ask for a start screen with one sentence of instructions, visible goal markers, and a result screen that repeats the scoring rule.Controls feel floaty or harsh.Name the control feel you want: slower acceleration, stronger braking, snap turning, short dash cooldown, or lower gravity.The game becomes unfair too quickly.Request wave pacing, warning indicators, enemy spawn caps, a gentler first level, and one safe recovery mechanic.The score does not teach replay strategy.Ask for score categories such as survival time, accuracy, resources saved, streaks, bonus objectives, and penalties. Use published Playworks games as references Public examples are useful because they show what a finished browser game page needs after the prompt is done: a playable build, clear launch action, rating and feedback signals, leaderboard entry points, and a creator path for making something similar.
Start with a reference like Moonlander, Armor Plated, or Nova Swarm. Then describe what you want to keep, what you want to change, and what the new player goal should be. This gives the AI game maker a concrete pattern without asking it to copy the original game.
A useful reference prompt might say: “Use the readable one-screen action of Armor Plated, but make the player protect a moving convoy, add upgrade choices after each wave, and score based on convoy health plus enemies destroyed.”
Build from a reference idea
Where the Arcade, leaderboards, and rewards fit The creator work does not end at generation. Once a draft is fun enough to publish, the public game page and Arcade help players find it, play it, rate it, and compete on scores. Reward-enabled games can also show wallet and eligibility context before a player enters a competition.
Keep reward language precise. Rewards are available only in eligible games and according to the terms shown for each game. A strong creator prompt should still focus first on the playable loop, because the leaderboard only matters if players want another run.
Start with one playable loop The fastest path is a small idea with a clear score. Write the prompt, generate the first draft, play it long enough to find the weak point, then revise one specific thing. When the result is understandable and replayable, publish it and use player behavior to decide what to build next.
Open the Gala Playworks AI game maker
Read the AI game tutorial
Reward note
Rewards are available only in eligible games and according to the terms shown for each game. Confirm live reward terms before naming any token amount or payout rule.
Editor note: Replace local image paths with uploaded Media Library URLs before publishing on News Gala. Confirm the Free Publishing Week date window before publishing if this article goes live after June 12, 2026.
Over the past year, Gala Games has continued to grow, bringing new experiences, new ways to play, and new opportunities for players to explore.
Today, games.gala.com serves as the home for a growing collection of games spanning multiple genres and playstyles. Whether you’re looking for competitive challenges, strategic gameplay, social experiences, or quick browser-based fun, there’s more to discover than ever before.
More Games Than Ever The library has grown. Whether you’re into strategy, competition, high fidelity shooters, quick browser sessions, or just seeing what’s new — there’s something here for you. New titles, updated favorites, and more on the way.
Just Hit Play No complicated setup. No long downloads. Many games run right in your browser, so you can go from curious to playing in seconds.
Built With the Community The Gala Games community has always been at the heart of what we do. Every update, every new release, every event is a chance to create something better — together. We’re listening, and we’re glad you’re here.
Explore What’s New This is an exciting time for Gala Games.
New games are arriving. Existing games are evolving. Communities are growing.
Whether you’ve been with us from the beginning or you’re discovering Gala Games for the first time, now is the perfect time to see what’s new.
In a notable development in the decentralized finance (DeFi) sector, Convex Finance has broadened its range of financial products through a new collaboration with Napier Finance. This partnership introduces a novel derivative wrapper, $cvxNPR, marking a significant expansion in Convex’s product lineup.
The inclusion of Napier Finance into Convex’s ecosystem underscores a strategic alignment aimed at enriching the utility and versatility of the Convex platform.
Convex will not post any links after this tweet. Links below this tweet that look like Convex are spam, fake or phishing links. Do not click any link under this tweet. pic.twitter.com/EIUcMxeu4g
— Convex Finance (@ConvexFinance) July 4, 2024 Napier Finance, known for its innovative yield trading strategies on the Curve protocol, complements Convex’s objectives to diversify and strengthen its offerings within the Curve ecosystem. This collaboration not only broadens the financial instruments available on Convex but also enhances the overall robustness of the DeFi landscape.
Strategic Integration and Benefits The integration of Napier Finance into the Convex ecosystem is a strategic move designed to leverage Napier’s specialized focus on yield trading strategies. This partnership is expected to introduce fresh use cases for the $CVX token, enhancing its application and appeal in the broader DeFi market. The launch of $cvxNPR is particularly significant as it represents the latest in a series of strategic expansions by Convex Finance aimed at diversifying its portfolio while reinforcing its connection to the Curve ecosystem.
The introduction of $cvxNPR not only broadens the scope of financial products under Convex’s management but also provides existing and new users with more versatile investment options. This expansion is indicative of Convex’s ongoing efforts to adapt and evolve in response to the dynamic DeFi sector, ensuring its platform remains competitive and relevant.
Engagement and Incentives in the DeFi Community The recent launch of Napier Finance has been accompanied by substantial community engagement initiatives, including a governance vote on Curve and an airdrop of Napier points to vlCVX holders. These points, redeemable as $cvxNPR, are part of a broader strategy to incentivize participation and investment in the Napier ecosystem. Convex Finance has made it clear that for vlCVX holders to benefit from the airdrop, active participation in Curve governance votes is essential.
Additionally, stakeholders in the Napier project have the opportunity to claim liquid $cvxNPR directly on the Convex platform. This mechanism ensures that $NPR remains locked, providing long-term value and voting rights which are managed by $vlCVX holders. The ultimate aim is to secure a controlling interest in $NPR governance, which will allow for the strategic direction of emission policies, aligning with Convex’s long-term objectives to enhance stakeholder value within its ecosystem.
AUTHOR
Mysterious crypto writer with expertise in blockchain, offering deep insights that captivate and intrigue readers. With a unique ability to uncover hidden insights and trends, Samuel delivers in-depth analysis and thought-provoking content that keeps readers on the edge of their seats. His writing style is engaging and informative, blending technical knowledge with a sense of intrigue, making complex crypto topics accessible to both newcomers and seasoned industry professionals. Samuel’s work continues to capture the attention of the crypto community, solidifying his reputation as a trusted voice in the space.
