Track market-moving stories before they get noisy

TRX: USDD Investment Memo: Expanding into Pendle’s Yield Markets

Introducing the Pendle wOUSD MarketwOUSD is now listed on Pendle with LP incentives live on the pool.

Pendle is a yield trading protocol that splits yield-bearing tokens into fixed and variable components, enabling fixed-rate access to yield that would otherwise only be available as a variable rate. Liquidity providers are currently earning over 150% APY with incentives, while any holder can now lock in 3.5% APY on OUSD yield through December 16, 2026.

What wOUSD IsOrigin Dollar is a yield-bearing stablecoin backed entirely by USDC. Rather than sitting idle, OUSD's collateral is deployed across curated Morpho Vaults, currently generating 6.1% APY. These vaults span lending markets on Ethereum, Base, and HyperLiquid, with yield bridged back to OUSD holders on Ethereum mainnet automatically.

wOUSD is the ERC-4626 wrapper around OUSD. While OUSD rebases (your balance grows as yield accrues), wOUSD holds a fixed token balance while its redemption value appreciates. That makes it compatible with protocols like Pendle that do not support rebasing tokens.

How wOUSD Works on PendlePendle splits wOUSD into two tokens: PT-wOUSD and YT-wOUSD.

PT-wOUSD represents the principal. It trades at a discount and redeems 1:1 with OUSD at maturity on December 16, 2026, locking in a 5.5% fixed APY on stablecoin yield for the duration. For holders who want predictable returns without managing yield rate risk, PT is the straightforward path.

YT-wOUSD represents the yield. Holders receive the variable yield accruing on wOUSD until maturity: a leveraged position for those who expect OUSD's underlying yield to increase.

LPs power the market for both. By providing liquidity to the wOUSD pool, LPs enable PT and YT trading and earn fees from both sides of that activity.

Deposit wOUSD on Pendle, Earn IncentivesFor wOUSD holders: fixed-rate stablecoin yield is now accessible without leaving the OUSD ecosystem. Locking in 3.5% APY through December removes exposure to yield rate fluctuation while keeping the position in a USDC-backed asset.

For LPs: the pool structure limits downside in a way most AMM positions cannot offer. At maturity on December 16, PT redeems 1:1 with OUSD. The structure guarantees zero impermanent loss at expiry. LPs earn trading fees from both PT and YT activity, plus additional incentives bringing total current APY to over 150%.

Get StartedWhether you're locking in a fixed rate with PT or providing liquidity to earn incentives, the wOUSD pool on Pendle offers both paths from a single USDC-backed asset. We look forward to growing the integration with the Pendle ecosystem as the pool develops.

Add liquidity to the wOUSD pool on Pendle.

Mu Digital is bringing Asian credit yields onchain through an integration with Pendle Finance, giving DeFi users access to tokenized exposure tied to sovereign bonds, corporate debt, and private credit across Asia.

The Hong Kong based tokenization platform says the integration marks the first instance of Asian credit yields being traded as fixed income instruments onchain. Asia’s credit market is estimated at roughly $20 trillion, but most of it has remained inaccessible to DeFi users.

Mu Digital’s core products are AZND and loAZND. AZND is a synthetic stable yield token backed by diversified Asian credit instruments, while loAZND is the locked version used inside Pendle’s yield trading system.

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Pendle splits yield bearing assets into Principal Tokens and Yield Tokens. Principal Tokens let users lock in fixed rates, while Yield Tokens allow users to speculate on future yield. That structure lets loAZND trade more like a fixed income product inside DeFi.

The active loAZND pool on Pendle holds about $546,000 in total value locked, with a base APY of roughly 6.75% and a fixed PT APY of 8.19%. The pool is set to mature on July 2.

Mu Digital’s senior AZND products target yields in the 6% to 10% range, while junior products such as muBOND can reach up to 15%. The higher yield comes with higher risk, reflecting the basic logic of structured credit.

The company raised $1.5 million in pre seed funding, with investors including UOB Venture Management, CMS Holdings, Signum Capital, Cointelegraph Accelerator, and Echo. UOB Venture Management is the venture arm of United Overseas Bank, giving the project backing from a major Southeast Asian financial institution.

To build early liquidity, Mu Digital launched an Infinite Ways to Earn campaign in January, aimed at attracting deposits into its Pendle pools and expanding access to Asian credit products onchain.

The integration adds another layer to DeFi’s real world asset push. Treasury backed products have dominated tokenized yield so far, but Mu Digital is betting that Asian credit can become a new source of onchain fixed income demand.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

Danske Bank: Federal Reserve may raise interest rates at least twice

Danske Bank senior analyst Kirstine Kundby-Nielsen and chief analyst Jens Peter Sorensen stated in a report that they expect the U.S. Federal Reserve to raise interest rates twice, in December 2026 and March 2027 respectively, bringing the federal funds rate to 4.00%-4.25%. "However, we emphasize there is a risk that rate hikes could come earlier and that the number of hikes may exceed two," they said. The first Federal Reserve meeting led by Kevin Warsh sent a clear signal that the Fed is increasingly moving away from forward guidance surrounding future monetary policy decisions. "All signs indicate that (the Fed) is leaning toward having greater discretion in future policy decisions," the Danske Bank analysts added. Source: Jin10

2 minutes ago

SK Hynix's stock price rise widened to 15.4%, while Samsung Electronics gained 6.3%.

According to Bitget data, SK Hynix’s stock price gain has widened to 15.4%, with Samsung Electronics up 6.3%.

2 minutes ago

The entire cryptocurrency market is down across the board; funding rates indicate BTC remains in bearish territory, while ETH’s bullish sentiment is significantly stronger than BTC’s.

According to HTX market data, Bitcoin is currently trading at $61,684.51, down 1.88% in the past 24 hours; Ethereum is at $1,647.36, down 1.48% over the same period. Current funding rates on major centralized exchanges (CEXs) show a clear divergence between BTC and ETH: BTC rates across all platforms have fallen back into bearish territory, while ETH rates on most platforms remain above the neutral range, indicating significantly stronger bullish sentiment for ETH than BTC. BlockBeats Note: Funding rates are fees set by cryptocurrency trading platforms to maintain the balance between contract prices and underlying asset prices, typically applicable to perpetual contracts. They serve as a fund exchange mechanism between long and short traders; platforms do not collect these fees, instead using them to adjust the cost or return of traders holding contracts, so that contract prices stay close to the underlying asset prices. A funding rate of 0.01% is the benchmark. A rate above 0.01% indicates broad bullish market sentiment, while a rate below 0.005% signals widespread bearish sentiment.

2 minutes ago

South Korea's KOSPI index climbs back above the 9,000 mark, up 6.25% on the day.

According to Bitget data, South Korea’s KOSPI index has returned to the 9,000 level, gaining 6.25% on the day.

2 minutes ago

Silver plunged 6% intraday, breaching the defense of long positions, as a smart money entity reaped $2.16 million in shorting profits.

According to Hyperinsight’s monitoring, the Silver (SILVER) contract on Hyperliquid is currently priced at $56.78, down 6.34% over 24 hours, with a trading volume of $263 million, ranking first in the precious metals sector. Driven by gold prices falling below $4,000 and safe-haven funds flowing back into chip stocks, short sellers have reaped significant profits. Notably, smart money address 0x49e has been shorting Silver on 3x leverage since April 29 at a high of $78.79, holding a position worth $5.77 million, and has already booked a precise profit of $2.16 million (+81%). On-chain Silver whales are overall bearish: the nominal position size of short sellers is approximately 1.5 times that of long positions. The average entry price for short positions is around $65.05, and the current price is 12.7% lower than this level. Long positions are overall trapped, with an average entry price of about $59.75, roughly 5% above the current price. Current short sellers have sufficient safety margins: the nearest short liquidation line stands at $77.18, some 36% above the current price, meaning short sellers face almost no liquidation pressure. Address: 0xe9ffe7698f46f96f980f2877e18c43f5b4165903-HyperInsight Bot is now live. Add @HyperInsightBot to your TG group and set it as an admin (enable message sending permission) to automatically sync on-chain updates.

2 minutes ago

China's Supreme People's Procuratorate announced a major drug-related money laundering case: Li Moubo laundered over 48 million yuan via virtual currency and was sentenced to death after combined punishment for multiple crimes.

On June 25, China’s Supreme People’s Procuratorate (SPP) held a press conference. Miao Shengming, SPP’s deputy procurator-general, stated that procuratorial organs are thoroughly investigating both self-money laundering and third-party money laundering crimes, and vigorously promoting the recovery of drug-related assets to ensure full coverage in the investigation and punishment of drug-related money laundering offenses. From January 2025 to May 2026, procuratorial bodies nationwide prosecuted more than 1,200 individuals for drug-related money laundering crimes. A notable example is the major cross-border case of drug smuggling, trafficking, transportation and money laundering involving Li Moubo and others, which was supervised by the SPP and handled by Chongqing’s procuratorial organs. Li laundered over 48 million yuan via virtual currency and was sentenced to death after receiving combined punishment for multiple crimes in accordance with the law. (Xinhua News Agency)

2 minutes ago

Danske Bank: Federal Reserve may raise interest rates at least twice

Danske Bank senior analyst Kirstine Kundby-Nielsen and chief analyst Jens Peter Sorensen stated in a report that they expect the U.S. Federal Reserve to raise interest rates twice, in December 2026 and March 2027 respectively, bringing the federal funds rate to 4.00%-4.25%. "However, we emphasize there is a risk that rate hikes could come earlier and that the number of hikes may exceed two," they said. The first Federal Reserve meeting led by Kevin Warsh sent a clear signal that the Fed is increasingly moving away from forward guidance surrounding future monetary policy decisions. "All signs indicate that (the Fed) is leaning toward having greater discretion in future policy decisions," the Danske Bank analysts added. Source: Jin10

2 minutes ago

SK Hynix's stock price rise widened to 15.4%, while Samsung Electronics gained 6.3%.

According to Bitget data, SK Hynix’s stock price gain has widened to 15.4%, with Samsung Electronics up 6.3%.

2 minutes ago

The entire cryptocurrency market is down across the board; funding rates indicate BTC remains in bearish territory, while ETH’s bullish sentiment is significantly stronger than BTC’s.

According to HTX market data, Bitcoin is currently trading at $61,684.51, down 1.88% in the past 24 hours; Ethereum is at $1,647.36, down 1.48% over the same period. Current funding rates on major centralized exchanges (CEXs) show a clear divergence between BTC and ETH: BTC rates across all platforms have fallen back into bearish territory, while ETH rates on most platforms remain above the neutral range, indicating significantly stronger bullish sentiment for ETH than BTC. BlockBeats Note: Funding rates are fees set by cryptocurrency trading platforms to maintain the balance between contract prices and underlying asset prices, typically applicable to perpetual contracts. They serve as a fund exchange mechanism between long and short traders; platforms do not collect these fees, instead using them to adjust the cost or return of traders holding contracts, so that contract prices stay close to the underlying asset prices. A funding rate of 0.01% is the benchmark. A rate above 0.01% indicates broad bullish market sentiment, while a rate below 0.005% signals widespread bearish sentiment.

2 minutes ago

South Korea's KOSPI index climbs back above the 9,000 mark, up 6.25% on the day.

According to Bitget data, South Korea’s KOSPI index has returned to the 9,000 level, gaining 6.25% on the day.

2 minutes ago

Silver plunged 6% intraday, breaching the defense of long positions, as a smart money entity reaped $2.16 million in shorting profits.

According to Hyperinsight’s monitoring, the Silver (SILVER) contract on Hyperliquid is currently priced at $56.78, down 6.34% over 24 hours, with a trading volume of $263 million, ranking first in the precious metals sector. Driven by gold prices falling below $4,000 and safe-haven funds flowing back into chip stocks, short sellers have reaped significant profits. Notably, smart money address 0x49e has been shorting Silver on 3x leverage since April 29 at a high of $78.79, holding a position worth $5.77 million, and has already booked a precise profit of $2.16 million (+81%). On-chain Silver whales are overall bearish: the nominal position size of short sellers is approximately 1.5 times that of long positions. The average entry price for short positions is around $65.05, and the current price is 12.7% lower than this level. Long positions are overall trapped, with an average entry price of about $59.75, roughly 5% above the current price. Current short sellers have sufficient safety margins: the nearest short liquidation line stands at $77.18, some 36% above the current price, meaning short sellers face almost no liquidation pressure. Address: 0xe9ffe7698f46f96f980f2877e18c43f5b4165903-HyperInsight Bot is now live. Add @HyperInsightBot to your TG group and set it as an admin (enable message sending permission) to automatically sync on-chain updates.

2 minutes ago

China's Supreme People's Procuratorate announced a major drug-related money laundering case: Li Moubo laundered over 48 million yuan via virtual currency and was sentenced to death after combined punishment for multiple crimes.

On June 25, China’s Supreme People’s Procuratorate (SPP) held a press conference. Miao Shengming, SPP’s deputy procurator-general, stated that procuratorial organs are thoroughly investigating both self-money laundering and third-party money laundering crimes, and vigorously promoting the recovery of drug-related assets to ensure full coverage in the investigation and punishment of drug-related money laundering offenses. From January 2025 to May 2026, procuratorial bodies nationwide prosecuted more than 1,200 individuals for drug-related money laundering crimes. A notable example is the major cross-border case of drug smuggling, trafficking, transportation and money laundering involving Li Moubo and others, which was supervised by the SPP and handled by Chongqing’s procuratorial organs. Li laundered over 48 million yuan via virtual currency and was sentenced to death after receiving combined punishment for multiple crimes in accordance with the law. (Xinhua News Agency)

2 minutes ago

DeFi yields are compressing. Aave USDC sits at ~3% while other stablecoins struggle to reach 4-6%. 

The search for real yield has begun, and this week’s unexpected DeFi stress test was instructive. 

It highlights why we launched the nOPAL market on Pendle in the first place, and some of the challenges facing onchain yield today. 

What Happened To DeFi?The week started with a strong BTC sell-off.

apxUSD holders felt it first, a product previously yielding ~15%, structured as an overcollateralized wrapper of Strategy's STRC perpetual preferred stock. When BTC dropped, STRC dropped with it, and holders wanted out.

Native redemption on apxUSD runs 3–20 days. In a fast-moving market, even a few days is too long, so anyone wanting an immediate exit had to route through a DEX and absorb significant slippage.

re.xyz holders had it worse. A separate reinsurance product, re.xyz operates on quarterly redemption windows. Capital is locked for months regardless of what the market does. In a sell-off, there is no exit at par.

These aren't product failures. They're structural gaps the market is only starting to price in: yield is marketed, liquidity is footnoted.

We launched nOPAL on Pendle one week ago to address exactly this gap. We did it before anyone even asked, and for this exact reason.

This week, the market delivered an uncontrolled test, and it proved the nOPAL thesis.

What Is nOPAL and What Problem Does It Solve?Start with the transaction. Someone taps a credit card in Brazil. The merchant gets paid in 30 days. Visa and Mastercard sit in the middle, processing settlement.

That 30-day gap is the asset.

BlackOpal Finance, a credit team with 25+ years of experience and $200M+ in institutional backing, buys those future receivables from merchants at a discount, then registers them in Brazil's Central Bank C3 Registry as a true sale. Not a loan, not a synthetic, not a wrapper. An actual transfer of the future cash flow.

When the cardholder pays the issuer bank, the money flows through Visa/Mastercard settlement rails directly to BlackOpal. The discount BlackOpal earned upfront is the yield: ~11–13% in USD, FX-hedged.

Visa and Mastercard process card payments whether or not anyone is paying attention to crypto cycles. If an acquirer or issuer bank fails, the network itself is the guarantor of last resort. Credit risk sits at the payment network level, not at the merchant, not at the bank.

That's how nOPAL has run a 0% default rate since inception, with audits from 0xMacro and Spearbit.

The yield isn't manufactured. It isn't paid in tokens. It doesn't taper. It's the discount on a short-dated claim against the world's two largest payment networks.

Why the Market Is Pricing This Wrong

Onchain lending yields have compressed to 3–5%. T-bill RWAs on Pendle average 4–6%. Native onchain yield is anchored to the U.S. risk-free rate, which means real yield onchain is currently unattractive relative to what's available offchain.

nOPAL sits 2–3x above the next-best RWA on Pendle, not from incentive games, but because short-term receivables in an emerging-market payment network yield more than short-term U.S. Treasuries. That spread is what we brought onchain.

It's also the only short-term receivables product on Pendle. New asset category, not another T-bill pool. No leverage. No lock-ups. The yield is simply the yield.

How nOPAL Solves The Onchain Redemption ProblemThis week exposed a hidden risk in most RWA yield products: exit mechanics need to be stress-tested under real market conditions.

apxUSD redemptions can run up to 20 days, which looks fine on paper. When BTC sold off, the wrapper drifted below peg, and holders were left with only difficult choices: wait out the redemption queue, or take a meaningful haircut by exiting through a DEX while the market was still moving.

The episode pulled scrutiny onto other RWA structures with similar exit profiles. re.xyz, a separate reinsurance product, runs quarterly redemption windows, locking capital for months regardless of market conditions. Different design, same problem.

Even a strong product with poorly designed exit mechanics can leave holders with what is effectively a term deposit of uncertain duration. Yield is marketed; liquidity is footnoted.

nOPAL was structured for exactly this scenario. Nest runs a dedicated liquidity sleeve that processes redemptions on a rolling basis while the underlying receivables settle in the background. Holders get a predictable, fast exit, even when the market is in motion.

The numbers:

Average redemption time: ~30 minutesMaximum redemption: T+4 — hard cap, not a guidelineZero BTC correlation — yield comes from Visa/MC payment flows, uncorrelated to crypto marketsWhen this week's BTC sell-off happened, nOPAL holders could exit cleanly. That's not a marketing claim. It's a function of how the asset was structured before a single token was minted.

At 11–13% base yield with 30-minute average redemptions, nOPAL wins on both yield and liquidity simultaneously. For sophisticated users, that combination is rare.

nOPAL on Pendle One Week LaternOPAL launched on Pendle Finance on Ethereum mainnet as a 100-day PT/YT market maturing September 16, 2026.One week in, and the numbers speak for themselves.

The pool has grown from $492k at seed to $1.74M. nOPAL is currently the #1 incentivized market on Pendle. PT-nOPAL offers ~10% implied fixed APY through maturity, the cleanest fixed-rate RWA position on Pendle for anyone rotating out of compressed stablecoin yields. 

YT buyers are positioned to capture the gap between implied yield and realized yield plus incentives as the market catches up to nOPAL's real yield profile. LPs earn an aggregated ~25% APY from nOPAL base yield, PLUME emissions, PENDLE AIM auto-emissions, and swap fees.

EtherFi, one of the largest DeFi protocols by TVL, has integrated with Nest, bringing their user base direct access to nOPAL yield. Protocols with sophisticated user bases are recognizing that sustainable RWA yield with real liquidity is the next chapter of DeFi.

The market is early and the incentives are front-loaded. Early LPs capture the most. Early PT buyers lock in the highest fixed rates before more capital compresses implied yield.

Get StartedStep 1 — Mint nOPAL on Nest Deposit pUSD or USDC at nest.credit/vaults/nest-opal-vault. No KYC required, no redemption fees.

Step 2 — Bridge to Ethereum LayerZero bridge is built directly into the Nest UI. Go to your portfolio, click Bridge, and send nOPAL to Ethereum mainnet in one click. No third-party bridge required.

Step 3 — Access the Pendle market Choose your position — PT for fixed yield, YT for leveraged floating yield, or LP for incentivized liquidity.

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LP on Pendle →

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For DeFi users who have been waiting for RWA yield that behaves the way it should when markets get difficult — this is it.

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Pendle Finance has scooped up over 1.72 million PENDLE tokens through its buyback program since January, distributing them directly to stakers. On top of that, sPENDLE holders have collected roughly $1.4 million in airdrops year-to-date.

The numbers represent the first major proof point for Pendle’s overhauled tokenomics, which replaced the old vePENDLE lockup system with a more liquid staking model at the start of the year.

How the buyback machine works Up to 80% of protocol revenue gets allocated to PENDLE token purchases. That revenue comes from three sources: yield fees on Pendle V2, swap fees on V2, and fees from Boros.

The buybacks happen on a fixed schedule. Every two weeks, a dedicated smart contract initiates purchases, with the actual buying spread across the following week. The tokens then flow to sPENDLE holders proportional to their stake.

Since sPENDLE launched on January 20, 2026, exactly 1,722,192 PENDLE tokens have been bought back and distributed through this system.

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Why sPENDLE replaced vePENDLE The previous vePENDLE system followed the vote-escrow model popularized by Curve Finance. Lock your tokens for a set period, get voting power and rewards. The longer the lock, the bigger the boost.

sPENDLE introduces a 14-day withdrawal period instead of lengthy lockups. Stakers still earn rewards from protocol revenue and airdrops, but they’re not committing their tokens to a multi-month or multi-year sentence.

Pendle’s position in the yield-trading landscape Pendle operates as the largest yield-trading platform in DeFi. Its core innovation is yield tokenization, which splits yield-bearing assets into two components: Principal Tokens (PT) and Yield Tokens (YT).

PTs represent the principal value of an asset at maturity, effectively giving holders fixed-rate exposure. YTs capture all the yield generated until maturity, offering leveraged exposure to variable rates.

The platform supports tokenization across a broad range of assets, including liquid staking tokens (LSTs), liquid restaking tokens (LRTs), and stablecoins.

What this means for investors The buyback-and-distribute model creates a direct feedback loop between protocol usage and token holder returns. More trading volume on Pendle means more fees, which means more PENDLE purchased on the open market, which means more tokens flowing to stakers.

The $1.4 million in airdrops adds another dimension. These appear to come from external protocols distributing tokens to Pendle participants, a side benefit of the platform’s deep integration with the broader DeFi ecosystem.

For existing PENDLE holders, the math is relatively simple. Staking into sPENDLE with a 14-day unstaking period gives you exposure to biweekly buyback distributions plus whatever airdrops land. The opportunity cost is two weeks of illiquidity.

For prospective investors evaluating the token, the key metric to track is protocol revenue growth. With 1,722,192 tokens bought back since January 20, 2026, the annualized rate gives a rough sense of the yield being generated, but that rate will fluctuate with market conditions and trading activity.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

Pendle’s sUSDS pool crossed $50 million in total value locked less than two weeks after going live. For a single yield pool on a single protocol, that’s the kind of traction most DeFi projects spend months trying to manufacture.

The pool launched around June 4 as part of a collaboration between Pendle and Sky, the protocol formerly known as MakerDAO. The product is straightforward in concept: it lets users lock in a fixed interest rate on sUSDS deposits through a specific maturity date, rather than riding the variable rate that sUSDS normally offers.

Why fixed yields are drawing capital The Sky Savings Rate, which underpins sUSDS yield, was sitting at roughly 3.6% APY when the Pendle pool launched. Early data showed the pool offering fixed APYs between approximately 4.74% and 5.38%, a meaningful premium over the variable baseline. In English: users were locking in returns roughly 30-50% higher than what they’d get just holding sUSDS in Sky’s savings contract.

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The pool also demonstrated serious depth. Swaps of up to $27 million could be executed without triggering impermanent loss for liquidity providers who hold through maturity.

The Sky ecosystem’s gravitational pull Sky’s yield-bearing stablecoin carries a market capitalization of approximately $6 billion, making it one of the largest pools of stablecoin capital in DeFi. The $50 million that flowed into Pendle’s pool represents less than 1% of that total addressable market.

Pendle’s total TVL across all chains and yield markets stood at roughly $1.18 billion as of mid-June 2026. The sUSDS pool already accounts for about 4% of Pendle’s entire platform TVL after barely two weeks of existence.

What this means for investors For retail participants, a fixed rate between 4.74% and 5.38% on a stablecoin deposit beats most traditional savings accounts and money market funds. The trade-off is smart contract risk and the requirement to hold through maturity.

For institutional and larger allocators, the liquidity depth is the selling point. The ability to move $27 million through the pool without adverse price impact removes one of the primary barriers that keeps bigger players on the sidelines of DeFi yield strategies.

There’s a risk dimension too, naturally. Fixed-rate products on Pendle work through a specific mechanism: when you buy a principal token at a discount and hold to maturity, you effectively lock in your rate. But if the underlying variable rate rises significantly above your fixed rate before maturity, you’ve left yield on the table. The current spread of roughly 1-2 percentage points above the Sky Savings Rate gives some buffer, but it’s not infinite.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

‘Entertainment Datasphere’ Redacted stunned 320 of web3’s elite with a once-in-a-lifetime sky networking event from Dubai to Singapore on September 15 to attend this year’s TOKEN2049. Throughout the 10-hour flight via Doha, passengers were treated to non-stop entertainment, games, giveaways, networking, and fun, with some of web3’s top KOLs and influencers out of their seats mingling, chatting, dancing, jumping up and down, and chanting “Redacted, Redacted, Redacted,” before touching down at Singapore Changi International airport. 

On the Qatar Airways flight chartered by the Redacted team were key figures and partners from Polygon, Animoca Brands, and Aethir, along with notable influencers such as Mario Nawfal, NFT whale Grail, Professor Crypto, Andres Meneses, and the Crypto Banter team.

Leading crypto-native travel booking service, Travala, enthused, “We sponsored the craziest Web3 event ever!”

“Hands down the craziest Web3 event I have ever attended,” posted web3 influencer and advisor Kickz, “10 hours straight fun.” 

Spearheaded by global web3 brand leaders Project Godjira and backed by prominent investors and web3 founders, including Animoca Brands, Polygon Ventures, Dingaling, and Yat Siu, Redacted elevated community-building and marketing to new heights—literally. At 47,000 feet, decked out in Redacted branding and flying high on pure good vibes, passengers enjoyed the experience of a lifetime with zero hierarchy on the flight. Business class and economy travelers mingled the whole way forging valuable connections and engaging in deep conversations with web3 legends.

The journey kicked off with opening speeches from Animoca Brands, Polygon, and co-founder and CEO of Redacted Shan Kumar, who thanked everyone for being part of this incredible journey. Passengers then participated in generous giveaways, airdrops, a sumptuous lunch, and a nailbiting ‘Shark Tank’ in the air. There were even live performances from the Rug Radio team and other top KOLs. The monumental flight was preceded by a lavish opening party on September 14 in Dubai’s most exclusive venue, 3BK at the Burj Khalifa, the world’s tallest building, giving attendees a taste of the thrilling highs to come.

“For the entire 10 hours, the plane was buzzing with energy—it didn’t even feel like we were on a flight! Everyone was dancing even with the limited space. It was wild, so much fun, and definitely a historic moment! When the captain announced we were about to land, the whole plane groaned in disappointment,” 

said “We haven’t come down from this incredible high yet,” enthused Shan Kumar Redacted CEO. “It really was an unforgettable experience and we’re delighted and humbled that so many of web3’s brilliant minds and top human beings took part. We can’t wait to show this amazing community what we have planned for them in Redacted’s ecosystem later this year.”

Driven by AI and powered by blockchain, Redacted is building an entertainment datasphere to offer enhanced user experiences and targeted commercial opportunities for web3 companies and dApps, providing web3 users and ‘degens’ the chance to do what they love most—play, trade, watch, and get rewarded. Redacted has already raised more than $10 million from some of the industry’s largest names including Animoca Brands, Spartan Group, and Saison Capital, and has a leadership team combining backgrounds from top-tier companies like Tesla, Kraken, and LEGO with influential web3 thought leaders in crypto, gaming, and NFTs. 

Redacted is already proving to be a master at community-building with the unrivaled ability to muster excitement and anticipation. Its viral marketing campaign caused a stir on X with the tongue-in-cheek tagline “Don’t get rekt, get redacted” gathering over 250K followers within a few weeks. Now the team has successfully maneuvered some of the most influential names in web3 across continents in the industry’s first-of-its-kind sky-high event.

About Redacted Redacted is creating an entertainment datasphere powered by blockchain and AI. Users will be able to interact through an ecosystem of entertainment and gamification products powered by RDAC. The core team, recognized as web3 thought leaders since 2021, combines crypto-native expertise with backgrounds from top-tier companies like Tesla, Bank of America, Kraken, and LEGO.

Disclaimer: This is a Press Release provided by a third party who is responsible for the content. Please conduct your own research before taking any action based on the content.

A16z is placing a bet on Solana gaming

Near’s crosschain AI Assistant will soon book flights and order takeout for you

Decentralization Debate: Edward Snowden Critiques VC Role in Solana and AI Surveillance Risks

Redacted Group, a leading platform that accelerates Web3 start-ups across verticals and that has over 1.3 million active users across its user and data ecosystem, is set to launch its native cryptocurrency token SRDAC on one of the most prominent token launch platforms in the industry: MocaList created in partnership with Mocaverse and CoinList.

Backed by leading venture firms, including The Spartan Group, Animoca Brands, Polygon Ventures, and others, Redacted co-owns and co-develops over 10 major products with a collective volume exceeding $500 million in value.

These include RampX, “Crypto’s SuperApp” – a chain abstraction bridgeless token swap platform supported by some of the most prominent angels and investors, and Biptap, a global banking solution for crypto.

Redacted’s blockchain-powered ecosystem, driven by its upcoming RDAC Token, aims to offer enhanced experiences and targeted commercial opportunities for both Web2 and Web3 companies.

The company plans to launch its public fundraise on MocaList, a premier launchpad powered by Mocaverse and CoinList. Mocaverse is the consumer brand of Moca Network and is among the first to adopt Moca Network’s Account, Identity, and Reputation SDK (AIR SDK), alongside SK Planet and One Football. Mocaverse provides curated experiences and rewards to users based on their identity and reputation through Moca ID and products including Mocana, MocaDrop and MocaList.

MocaList was created exclusively for the Mocaverse and CoinList community and designed to facilitate priority access to culture and entertainment projects within the crypto space.

By leveraging CoinList’s expertise and Mocaverse’ engaged network, MocaList aims to provide high-quality fundraising opportunities while fostering deeper participation and utility for its members. CoinList is the leading crypto launchpad and has raised over US$1.2 billion for notable projects like solana, Immutable X, and NEAR Protocol.

Since its inception in 2017, CoinList has hosted 58 public raises. MocaList was created exclusively for the Mocaverse community and designed to facilitate priority access to culture and entertainment projects within the crypto space.

The RDAC token community sale will officially launch on March 13th, 2025, at 17:00 UTC on MocaList, and will conclude on March 20th, 2025, at 17:00 UTC.

Co-founder and CEO of Redacted Shanjan Kumar said in a statement,

“Our listing on MocaList marks an exciting step forward in expanding the reach of Redacted and our ecosystem. We’re thrilled to see how MocaList will help bring Redacted and the RDAC token to more users and wallets, furthering our vision for a more connected Web3 space.”

Kenneth Shek, Project Lead of Moca Network, said,

“We are genuinely excited to launch Redacted on MocaList, showcasing innovative products like Rampx and MultiFarm that are backed by top venture firms such as The Spartan Group and BitKraft. This initiative is a fantastic opportunity for our community to connect with a project that is set to redefine user experiences and commercial opportunities in the Web3 ecosystem, creating a more accessible and engaging environment for both users and startups through the upcoming RDAC Token.”

A total of 43 million RDAC tokens, representing 4.3% of the token supply, have been allocated for the MocaList sale at a price of $0.07, a fully diluted valuation of $70M. Once the tokens are purchased in the sale, a portion will be released at TGE while the rest will be locked for a 1-month cliff before vesting over the next 2 months.

About Redacted

Redacted is a leading platform that accelerates Web3 start-ups across verticals across its user and data ecosystem. Users will be able to interact through an ecosystem of entertainment and gamification products powered by RDAC. The core team, recognized as Web3 thought leaders since 2021, combines crypto-native expertise with backgrounds from top-tier companies like Tesla, Bank of America, Kraken, and LEGO.

Oliver Dale

Editor-in-Chief of Blockonomi and founder of Kooc Media, A UK-Based Online Media Company. Believer in Open-Source Software, Blockchain Technology & a Free and Fair Internet for all. His writing has been quoted by Nasdaq, Dow Jones, Investopedia, The New Yorker, Forbes, Techcrunch & More. Contact [email protected]

Binance has listed the Redacted token on its Alpha project, but the result diverged from the investors’ expectations as the RDAC token price crashed 50%. The RDAC token has officially gone live with an airdrop today, May 13, 202,5, at 10:00 UTC. Interestingly, many other crypto exchanges, like Bitget, MEXC, and others, have also listed the token, which is usually bullish, but the price performance is bearish. Why? Let’s discuss.

RDAC Token Price Crashed 50% With Overbuying A listing on popular crypto exchanges like Binance brings additional credibility and visibility to the token. As a result, its value often moves upward, but things change in the case of the RDAC token price.

Notably, the price crashed 50% in the last hour after hitting an ATH at $0.1018. CoinGecko data reveals that RDAC presently trades at $0.04979 with a market capitalization of $9.81M.

This happened as the investors jumped on the buying in anticipation of further rallies, pushing the Redcated token into the overbuying zone, hence the price crash. Technical factors reveal that the RSI is above 78 as the FOMO is taking over the investors.

Additionally, the Binance airdrop is another factor to consider. Most crypto airdrops bring high volatility due to the movement of tokens and sellers’ activity, resulting in a crash.

How to Claim the Binance RDAC Token Airdrop? The official Binance announcement reveals that users who have at least 205 Alpha points are eligible for the RDAC token airdrop. The users with 205 Alpha would receive 482 Redacted tokens, claims starting at 10:00 UTC. Interestingly, the users with 170-204 Alpha points and UID (Binance account UID) ending with 7 can claim a lucky airdrop for the 482 tokens.

Notably, these airdropped tokens should be claimed within the first 24 hours of claim opening, as they would expire after that. To claim the Binance airdrop, the users will have to spend 15 Alpha points.

A narrow claim window is affecting the RDAC token price. Experts remain divided on its further performance due to airdrop influence volatility, low liquidity, and token movements, and suggest that investors must remain cautious for some time.

Frequently Asked Questions (FAQs)

The RDAC token price crashed due to overbuying of the token as the investors rushed in to buy under FOMO due to the Binance listing.

The user with at least 205 Alpha points are eligible for the RDAC airdop. There’s also lucky airdrop for the users with 170-204 Alpha points..

Experts warn investors to take caution around this token as there is high volatility and limited information on performance.

Kaito Adjusts Crypto Mindshare Algorithm After Backlash: What Users Need To Know

Danske Bank: Federal Reserve may raise interest rates at least twice

Danske Bank senior analyst Kirstine Kundby-Nielsen and chief analyst Jens Peter Sorensen stated in a report that they expect the U.S. Federal Reserve to raise interest rates twice, in December 2026 and March 2027 respectively, bringing the federal funds rate to 4.00%-4.25%. "However, we emphasize there is a risk that rate hikes could come earlier and that the number of hikes may exceed two," they said. The first Federal Reserve meeting led by Kevin Warsh sent a clear signal that the Fed is increasingly moving away from forward guidance surrounding future monetary policy decisions. "All signs indicate that (the Fed) is leaning toward having greater discretion in future policy decisions," the Danske Bank analysts added. Source: Jin10

2 minutes ago

SK Hynix's stock price rise widened to 15.4%, while Samsung Electronics gained 6.3%.

According to Bitget data, SK Hynix’s stock price gain has widened to 15.4%, with Samsung Electronics up 6.3%.

2 minutes ago

The entire cryptocurrency market is down across the board; funding rates indicate BTC remains in bearish territory, while ETH’s bullish sentiment is significantly stronger than BTC’s.

According to HTX market data, Bitcoin is currently trading at $61,684.51, down 1.88% in the past 24 hours; Ethereum is at $1,647.36, down 1.48% over the same period. Current funding rates on major centralized exchanges (CEXs) show a clear divergence between BTC and ETH: BTC rates across all platforms have fallen back into bearish territory, while ETH rates on most platforms remain above the neutral range, indicating significantly stronger bullish sentiment for ETH than BTC. BlockBeats Note: Funding rates are fees set by cryptocurrency trading platforms to maintain the balance between contract prices and underlying asset prices, typically applicable to perpetual contracts. They serve as a fund exchange mechanism between long and short traders; platforms do not collect these fees, instead using them to adjust the cost or return of traders holding contracts, so that contract prices stay close to the underlying asset prices. A funding rate of 0.01% is the benchmark. A rate above 0.01% indicates broad bullish market sentiment, while a rate below 0.005% signals widespread bearish sentiment.

2 minutes ago

South Korea's KOSPI index climbs back above the 9,000 mark, up 6.25% on the day.

According to Bitget data, South Korea’s KOSPI index has returned to the 9,000 level, gaining 6.25% on the day.

2 minutes ago

Silver plunged 6% intraday, breaching the defense of long positions, as a smart money entity reaped $2.16 million in shorting profits.

According to Hyperinsight’s monitoring, the Silver (SILVER) contract on Hyperliquid is currently priced at $56.78, down 6.34% over 24 hours, with a trading volume of $263 million, ranking first in the precious metals sector. Driven by gold prices falling below $4,000 and safe-haven funds flowing back into chip stocks, short sellers have reaped significant profits. Notably, smart money address 0x49e has been shorting Silver on 3x leverage since April 29 at a high of $78.79, holding a position worth $5.77 million, and has already booked a precise profit of $2.16 million (+81%). On-chain Silver whales are overall bearish: the nominal position size of short sellers is approximately 1.5 times that of long positions. The average entry price for short positions is around $65.05, and the current price is 12.7% lower than this level. Long positions are overall trapped, with an average entry price of about $59.75, roughly 5% above the current price. Current short sellers have sufficient safety margins: the nearest short liquidation line stands at $77.18, some 36% above the current price, meaning short sellers face almost no liquidation pressure. Address: 0xe9ffe7698f46f96f980f2877e18c43f5b4165903-HyperInsight Bot is now live. Add @HyperInsightBot to your TG group and set it as an admin (enable message sending permission) to automatically sync on-chain updates.

2 minutes ago

China's Supreme People's Procuratorate announced a major drug-related money laundering case: Li Moubo laundered over 48 million yuan via virtual currency and was sentenced to death after combined punishment for multiple crimes.

On June 25, China’s Supreme People’s Procuratorate (SPP) held a press conference. Miao Shengming, SPP’s deputy procurator-general, stated that procuratorial organs are thoroughly investigating both self-money laundering and third-party money laundering crimes, and vigorously promoting the recovery of drug-related assets to ensure full coverage in the investigation and punishment of drug-related money laundering offenses. From January 2025 to May 2026, procuratorial bodies nationwide prosecuted more than 1,200 individuals for drug-related money laundering crimes. A notable example is the major cross-border case of drug smuggling, trafficking, transportation and money laundering involving Li Moubo and others, which was supervised by the SPP and handled by Chongqing’s procuratorial organs. Li laundered over 48 million yuan via virtual currency and was sentenced to death after receiving combined punishment for multiple crimes in accordance with the law. (Xinhua News Agency)

2 minutes ago

Whale Research Analysis: Market Outlook 2026 on Liquidity, Expectations, and the New Market Order

LUNC News: Terra Luna Classic community has unanimously approved a key proposal to update the interblochain communication (IBC) client between Terra Classic and Kujira (from 07-tendermint-178 to 07-tendermint-246), allowing the connection between the two chains to work again. This improves Terra Classic revival effort by increasing liquidity and freeing frozen funds.

Terra Classic Community Approves Proposal for Liquidity Proposal 12099 “Restore IBC to Kujira” has surpassed pass threshold and received overwhelming support from the Terra Luna Classic community. The RakoffToken team proposed to re-enable IBC client 07-tendermint-178 connection between Terra Classic and Kujira.

The proposal has received 99.99% of the votes in favor from the community, indicating the unanimous support from the community in restoring the lost connection between chains through inter-blockchain communication (IBC). Validators also showed unwavering support with all 57 participants including Allnodes, Interstellar Lounge, HappyCattyCrypto, Luna Station 88 voted “Yes”.

As reported by CoinGape, the IBC client 07-tendermint-178 will be upgraded to IBC client 07-tendermint-246 to restore the connection between the blockchains and free up frozen funds.

Meanwhile, the community has also approved multiple proposal Genuine Labs’ proposal to decrease MaxBlockSize from 5mb to 2mb as an initial security measure to counter peer-to-peer spam, increasing minimum commission for validators to 2.5%, and changing the reward share distribution of the burn tax.

Also Read: Terra Luna Classic Community Revises LUNC Burn Tax

LUNC Price Jumps 5% LUNC price jumped 5% in the last 24 hours, with the price currently trading at $0.0001076. The 24-hour high and low are $0.0001039 and $0.0001145, respectively. Moreover, trading volume increased by 80% in the last 24 hours, indicating a rise in interest among traders. The community remains confident on LUNC price hitting $1.

Terra Luna Classic (LUNC) futures open interest has climbed by over 10% across exchanges in the last 24 hours, Coinglass. Whereas, 1000LUNC futures OI has jumped 16% on Binance and Bybit in the past 24 hours as Terraform Labs (TFL) announced to restrict access to some Terra products and features from users in the US.

Meanwhile, USTC price also jumped over 2%, with the price changing hands at $0.01892. The price climbed 20% higher last week. The 24-hour low and high are $0.01857 and $0.01957, respectively.

Also Read:

Binance Vs SEC: US DOJ Contradicts SEC’s Position That BUSD, Stablecoins Are Securities Billionaire Arthur Hayes Reveals Major Crypto Bull Signal From US Treasury Dept Bitcoin ETF: America’s Oldest Bank BNY Mellon Reveals BTC ETF Investments In Quarterly Filings

#Breakout2024 – The Year of Radix

TL;DR

The price of Kujira token (KUJI) has dropped by 42.68% in 24 hours, standing at $0.5451. The Kujira Foundation is facing a liquidation crisis with $5 million outstanding debt. The team insists that the situation is not comparable to the collapse of Terra, despite speculation. Kujira, a project based on the Cosmos blockchain, is going through a significant crisis that has led to a 42.68% drop in the price of its KUJI token, which now stands at $0.5451.

This collapse has been caused by a series of massive liquidations that have deeply impacted the stability of the project.

The Kujira Foundation currently has several leveraged positions in its Ops wallet, including cryptocurrency pairs such as KUJI/USDC, KUJI/ATOM, KUJI/USK, and USDC/USK.

These positions are being liquidated due to falling prices, which has reduced the wallet balance from $12.4 million to $8.7 million in a short period.

Additionally, it is estimated that more than $3 million in KUJI has already been liquidated, while the outstanding debt amounts to $5 million.

Kujira (KUJI) token has seen a 42.25% drop over the past 24 hours, trading at $0.5485 according to CoinMarketCap.

This drastic decline in value is the result of a series of mass liquidation events that have severely affected the stability of the project.

The drop in price reflects the current difficulties facing the Kujira Foundation, with a liquidation crisis in its leveraged positions having intensified market volatility.

The team has communicated that its positions are under attack and has attempted to manage the impact of these liquidations.

In a recent message, they explained that the decision to leverage and deploy funds to stimulate liquidity and activity in the ecosystem coincided with targeted attacks on their positions.

Although these attacks have exacerbated the situation, the team says they are not seeking sympathy, but are trying to explain the events that have led to the current crisis.

Situation Management and Kujira Team Response The Kujira team has addressed the situation by acknowledging responsibility for the impact on KUJI’s price and apologizing to the community.

They say they are working on different strategies to manage the debt and that a detailed plan will be communicated shortly.

Despite speculation that this crisis could be comparable to the collapse of Terra, the team emphasizes that the debt is contained and manageable.

According to them, although the situation is affecting the price of the token, this drop cannot continue indefinitely.

The team has also stated that they are re-evaluating their roles and strategies to ensure the community is best served.

They recognize that trust has been damaged and are committed to restoring it and focusing on what is best for everyone involved.

Although Kujira faces significant challenges, the team believes the technology and potential of the project remain strong.

The current situation is considered a critical point for the evaluation and continuous improvement of the project, always seeking the well-being and stability of the community.

Kujira proposes DAO to tackle liquidity, security issues

Updated Aug 2, 2024, 11:55 a.m. Published Aug 2, 2024, 11:52 a.m.

2 min read

(Unsplash)Lack of risk management in financial bets by the Kujira Foundation led to a 55% drop in KUJI token prices within 24 hours.Liquidations of leveraged positions by Kujira's operational wallet resulted in significant losses and further price declines.Kujira plans to establish a DAO to manage its treasury and core protocols, aiming to reduce debt and increase transparency.The team behind Kujira, a decentralized finance (DeFi)-focused blockchain, put up leveraged liquidity positions that backfired, wiping 55% off the value of the network's KUJI tokens in 24 hours.

Wallets belonging to the Kujira Foundation, which builds and contributes to running Cosmos-based Kujira, started to see their KUJI holdings automatically liquidated on Thursday as some of their leveraged positions on the protocol became bad debt to the tune of millions of dollars.

Another day... sadly, another Cosmos event.

This time, it looks like the Kujira Foundation Ops wallet is being liquidated on their leveraged LP positions.

Dropping the price from 86c to 60c, so far.

You can see the balance of the ops wallet (it doesn't show Leveraged LP… pic.twitter.com/yMquKOMdai

— Rarma (@Rarma_) August 1, 2024 The liquidations occurred as loans taken by Kujira from their publicly allocated KUJI tokens became undercollateralized during a period of general market volatility. The liquidations sent KUJI lower, leading to more liquidations, even lower prices and a downward spiral.

Liquidations are the automatic closure of a trader’s leveraged position due to a partial or total loss of their initial margin. They can be stopped in time if a trader tops up funds to keep their position open.

In a Telegram broadcast message on Thursday, a Kujira team member said the leverage positions were taken out in the hope they would drive value across the network’s set of applications.

“As a team, we thought the best use of a portion of ops funds would be to leverage and deploy across the ecosystem to bootstrap liquidity and activity,” a @team_kujira member wrote on Telegram. "We genuinely felt like this was the correct course of action.”

“Sadly this coincided with various attacks. Not trying to feel sorry for ourselves but just explaining the sequence of events. People targetted the team positions, and it’s been a constant fight since these positions were created,” they wrote.

Kujira had more than $124 million worth of funds locked at its March 2024 peak. The value was down to $50 million earlier this week and $35 million on Friday morning following the KUJI token liquidations.

In a Friday post on X, the team said it would create a decentralized autonomous organization (DAO) – an organization managed in whole or in part using a blockchain-based voting system – to take ownership of the Kujira Treasury and core protocols “with an initial mandate to safely reduce debt.” It said there was 14 million KUJI, worth $5.5 million at current prices, in the treasury.

“This DAO will also assume control of the configuration of the core Kujira Protocols,” the team wrote. “Combined with upcoming admin dashboards, this will create transparency over how these protocols run, and allow the community to propose changes that will be voted on by members of the DAO.”

GM all. We’d like to address the current events.

As a team we thought the best use of a portion of ops funds would be to leverage and deploy across the ecosystem in order to bootstrap liquidity and activity. We genuinely felt like this was the correct course of action at the… pic.twitter.com/qBw9w6y94b

— Kujira 🉐 (@TeamKujira) August 1, 2024

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Kujira and THORChain Unite to Enhance DeFi Capabilities and Liquidity This partnership is expected to accelerate Kujira’s growth and solidify its position in the DeFi sector. A key component of this partnership is an underwritten token raise designed to clear existing debt. It also aims to align the economic interests of both the Kujira and THORChain communities.

This token raise is unique in that it is open to the community, ensuring broad participation and support. Importantly, this initiative is accompanied by operational changes aimed at preventing similar financial challenges in the future. These changes will strengthen the overall resilience of the Kujira platform.

Source: X JPTHOR, the founder of THORChain, has committed to backstop the token raise with $3 million. This set a minimum threshold for the funds raised via the PILOT platform. This commitment ensures that depositors in affected vaults can withdraw their funds after the conclusion of the sale.

It offers a significant layer of security and confidence to all participants. This move signals the partnership’s potential and the commitment of both parties to its success.

The upcoming token sale is expected to be a pivotal moment for Kujira. It will go live shortly after a community vote ratifies the outlined details. The sale will run for three days and will feature two concurrent auctions—one aimed at repaying the $USDC debt, and the other at repaying the $USK debt.

Source: X Participants will have the flexibility to bid with both $USDC and $USK, as well as their respective wrapped tokens, $xUSDC and $xUSK. This inclusive approach allows current depositors to participate fully, ensuring that the entire community has a stake in the future of Kujira.

Disclaimer The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.

THORChain’s RUNE price experienced a 13% rally, catapulting it to the forefront of the market’s gainers. This surge was not merely the result of market whims but rather a strategic play intertwined with Bitcoin’s bullish momentum and a pivotal partnership with Kujira.

Key to the rise is THORChain’s fresh collaboration with Kujira, which improves liquidity and community interaction.

The Kujira collaboration is noteworthy for its community-driven approach to fundraising. Unlike traditional methods, this project empowers the broader community to participate actively, ensuring a more inclusive financial model.

This approach aims to address existing financial challenges and promote stability within both ecosystems, fostering a more resilient DeFi environment.

Partnerships and Integrations Bolster THORChain Price In addition to the Kujira partnership, THORChain has been busy expanding its network through alliances with SwapKit and Noble. These partnerships are crucial for integrating stablecoins into THORChain’s AppLayer, enhancing the platform’s usability and liquidity.

Noble’s role in providing native USDC issuance is particularly key, streamlining the deposit process with single-click functionality and further integrating stablecoins into the THORChain ecosystem.

The partnerships between THORChain, SwapKit, and Noble illustrate a growing DeFi trend where platforms collaborate to boost liquidity, improve user experience, and strengthen financial stability. By tackling current issues and adding new features, these alliances could significantly benefit the RUNE ecosystem’s long-term success.

These strategic moves are indicative of a larger trend within the DeFi space, where collaboration is key to improving liquidity, user engagement, and financial stability. By integrating stablecoin support, THORChain is positioning itself as a more versatile and user-friendly platform in the competitive DeFi landscape.

Bitcoin’s Impact on the Broader Market The current price explosion by THORChain also corresponds with an evident rise in the value of Bitcoin. Bitcoin exceeded the $61,000 barrier on August 13, which set off a strong knock-on effect throughout the crypto market

A surge in trading volumes, reaching approximately $29.2 billion, accompanied Bitcoin’s rise of over 3%. The increase in Bitcoin’s market cap, which grew by 3.14% to $930 billion, has undoubtedly played a role in the bullish sentiment surrounding THORChain and the general market.

The broader crypto market also saw an uplift, with the global market cap increasing by 0.39% to $2.09 trillion.

This narrative of surges, alliances, and data-driven innovations points towards a future where decentralized finance takes center stage, showcasing the power of strategic collaborations and visionary movements in the ever-evolving world of cryptocurrencies.

Disclaimer

The contents of this page are intended for general informational purposes and do not constitute financial, investment, or any other form of advice. Investing in or trading crypto assets carries the risk of financial loss. The forecasted data (also called “price prediction”) on this page are subject to change without notice and are not guaranteed to be accurate.

Varuni Trivedi

Varuni has been in the web3 space for half a decade, witnessing the changing dynamics of DLT, Blockchain and Web3. With 8 years of journalistic expertise, she has a keen interest in emerging technology and their impact on society. She has published news and on-chain analysis articles on Nasdaq as well as some of the top web3, crypto news firms. Currently, she heads The Coin Republic as the Editor-In-Chief.

In This Article THORChain Founder Claims That Rujira Could Rival SolanaThe RUJIRA Alliance Has Been Born Out Of Necessity After The Kujira Team Mishandled Its Treasury Decentralized finance (DeFi) network Kujira and three major ecosystem projects have announced plans to merge into a single entity called the “Rujira Alliance.” The alliance aims to build a new application layer for the cross-chain liquidity protocol THORChain.

The alliance will see Kujira merge with three of its “key ecosystem” partners: Fusion (FUZN), Unstake (NTSK), and Wink (WINK). The four teams will work together to develop the new app layer on THORChain, which will be powered by a new token called RUJI.

THORChain Founder Claims That Rujira Could Rival Solana I'm super excited to have the opportunity to build alongside @TeamKujira ecosystem and ship a flagship COSM-WASM chain with massive liquidity.

– well funded
– well organised
– well supported
– single brand and identity
– cohesive ecosystem

What is on offer here is not "another…

— JP.THOR | ACEL (@jpthor) September 9, 2024

The merge will not affect the functionality of Kujira’s existing KUJI token or the project’s native blockchain network. The Kujira and THOR teams have stressed that merging into RUJI will be voluntary.

John-Paul Thorbjornsen aka ‘JP THOR’, is the founder of THORChain and has been speaking on the alliance. In a post on his X account, JP said that Rujira can rival Solana.

“What is on offer here is not “another little project” – it is an L1 DeFi behemoth that can rival Solana – simply because it has worked out: security, decentralization, liquidity, governance, and no MEV. Bringing back Terra 2020 app-chain vibes LFG!!!” Thorbjornsen said.

In an interview with Cointelegraph, JP said that the new project would feature a “combined treasury” and that he would be the project lead for the foreseeable future, allowing the Kujira team to focus solely on building out the Rujira app layer.

He went on to say that the new app layer will feature a product for each major DeFi vertical, including order books, perps, a token launchpad, non-fungible tokens (NFTs), lending, and money markets, which is “fully plumbed to eight chains already.”

Brand new fully onchain orderbook DEX is launching

$200m+ in starting seed liquidity, including $42m+ $BTC

Complete full featured DeFi ecosystem right out of the gate

Native crypto deposits, revenue paid out to stakers

Token only $100m market cap

IYKYK 😉$RUJI pic.twitter.com/4kmI5CbgTt

— PostTenebras (@PostTenebras2) September 9, 2024

EXPLORE: Metaplanet Purchases Additional 38.46 $BTC as Bitcoin Rebounds Above $57,000

The RUJIRA Alliance Has Been Born Out Of Necessity After The Kujira Team Mishandled Its Treasury This new alliance is necessary for the Kujira network. It was announced last month (August 1) that its founding team was facing a series of liquidity issues stemming from “exploits, socially engineered attacks, and fallouts within the ecosystem.”

The team started a KUJI sale to pay for the bad debt, with the token available at a discounted price. JP participated in the sale and bought between $2-3 million worth of KUJI on a pre-agreed condition that Kujira would migrate to THORChains new applayer.

GM all. We’d like to address the current events.

As a team we thought the best use of a portion of ops funds would be to leverage and deploy across the ecosystem in order to bootstrap liquidity and activity. We genuinely felt like this was the correct course of action at the… pic.twitter.com/qBw9w6y94b

— Rujira (@RujiraNetwork) August 1, 2024

At the time of the August 2 announcement, the KUJI token tanked around 70% in less than 24 hours. It is currently trading for $0.38, down 13.4% in the past 24 hours. KUJI has fallen over 93% from its all-time high of $5.56 on December 13, 2023.

On the other hand, following the announcement, THORChain’s native RUNE token has been up 7% in the last 24 hours. It is currently trading at around $3.92. All token data is from Coingecko.

(COINGECKO)

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

#DeFi

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