🗓️ State of BNB Chain Q1 2024. BNB Smart Chain was able to capitalize on the return of the crypto bull market in Q1. It achieved QoQ improvements across multiple metrics like market cap (up 89% QoQ), revenue in USD (up 89% QoQ), average daily active addresses (up 26% QoQ), DeFi TVL (up 67% QoQ), and average daily DEX volume (up 193% QoQ). Additionally for some metrics, such as DEX volumes, BNB Smart Chain reached highs not seen since the last bull run in 2021.
🗓️ State of Sui Q4 2023 and Q1 2024.The crypto market rebounded in Q4'23 and Q1'24 and Sui was no exception. Its market cap grew by 508% in the past two quarters to $2.3 billion. Its growth outpaced tokens with a similar market cap, as its market cap rank increased from 81 to 57 during that time period. Less than a year after its launch, Sui has become a top network by DeFi activity. Its TVL grew by 1,459% in the past two quarters to $787 million, ranking it 12th among all ecosystems. Its average daily DEX volume increased by even more, up 3,689% to $78 million. During the past two quarters, Sui network usage reached a peak of 453,000 daily active addresses during Mysten Labs' onchain gaming quest, Quest 3. Excluding that period, Sui averaged 24,000 daily active addresses and 1.8 million daily transactions throughout Q4'23 and Q1'24. Upcoming upgrades will bring further scaling improvements to the network. Near the end of March, Mysten Labs introduced Pilotfish, a new execution scaling solution that distributes execution work across multiple machines for a single validator. After quarter end, the Sui Foundation announced Mysticeti, a consensus upgrade planned for this summer.
Deep Dive into Proof Marketplaces. Proof marketplaces can create a competitive environment for ZKP generation, benefiting ZKP consumers via lower costs. These marketplaces also present an economic opportunity for ZKP generators, such as specialized ZK hardware manufacturers, which would serve as the supply-side participants.
Understanding Rubic: A Comprehensive Overview. Rubic is a DEX and bridge aggregator integrated with over 70+ blockchains and 220+ DEXs and bridges. It also develops cross-chain tools for dApps, including a widget and a customized full-fledged SDK.
[Messari Governance] [Compound DAO] IO Recommendations for WETH Comets on Base and Ethereum. This proposal aims to increase the daily COMP Borrow Rewards for Compound V3 WETH from 0 to 20 and 0 to 2 on Ethereum and Base respectively. The proposal also seeks to decrease the daily COMP Supply Rewards from 15 to 10 for Compound V3 WETH on Base.
[Messari Key Developments] [Juno Network] v22 Upgrade. Juno is expected to upgrade to v22 at block height 15,873,890, estimated to arrive on Apr. 30, 2024, at approximately 15:00 UTC, pending governance approval of Proposal 347. This upgrade bump Cosmos SDK & CometBFT to the latest compatible versions.
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