Together with | | GM Defiers! | S&P Global Rankings, a leading credit rating agency, put out a report singing the praises of tokenized real-world assets (RWAs). The firm said on-chain RWAs are set to transform the asset management industry by offering unrivaled efficiency for managers and investors. | Aave unveiled its development of a Layer 2 network to host the protocol and ecosystem for its web3 social graph, Lens. Aave said Lens Network will offer the high throughput and low fees needed to support mainstream adoption. | Plus, Infinex amassed $60 million in two days, Degen Chain resumed operations after a 50-hour outage, and Sonne Finance suffered a $20 million exploit. | ✍️ In today's newsletter: | S&P vouches for RWA tokenization Aave announces ZK Stack-based Lens Network Infinex boasts $60M TVL after two days Degen Chain back online after 50-hour outage Hackers devastate Sonne Finance
| 🙏Sponsored | | 📈 Markets in the last 24 hrs: | | TICKER | VALUE | 24 H |
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| Bitcoin | $63,284 | 3.38 % | | Ethereum | $3,054 | 2.64 % | | Gold 1st Future | $2,332 | 0.80 % | | S&P 500 | 5214.08 | 0.51 % | | Arch Web3 | 2.15 | 4.45 % | | Learn more about Arch Indices here. | |
| | 🎬WATCH | Check out our latest podcast with Haseeb Qureshi, managing director at Dragonfly Capital. And watch our explainer on using DeFi to borrow crypto. |  | How to Borrow in DeFi | Crypto 101 |
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| | THANKING OUR NEWSLETTER SPONSORS | | NEWSLETTER CONTINUES BELOW | | | Stellar empowers builders to unlock human and economic potential. Explore the new Stellar smart contract platform, Soroban, designed for scale and sensibility. | | Safe{Wallet} is considered the most secure wallet in the web3 space, trusted by Vitalik Buterin and leading projects to safeguard over $100 billion in assets. The smart wallet is widely known for its multisig functionality, offering robust security measures, convenient account recovery, and access to a thriving ecosystem of over 200 integrated apps. | | Switch to Summer.fi and get curated access to top DeFi protocols, like Maker, Spark, AAVE and Morpho. Now, with Stop-Loss, advanced automation, and one transaction multiply to increase exposure with ease. | | | | A new report from S&P Global Rankings argues that tokenization and on-chain RWAs hold the key to revolutionizing the asset management industry. Tokenized Treasuries can help money market funds and their investors to manage liquidity," said Andrew O'Neill, digital assets managing director at S&P Global Ratings. "Longer term, tokenization may bring new efficiencies to the asset management industry." | | | Avara, the parent company for Aave, is building a ZK Stack-based Layer 2 network to host a new deployment of Lens, its decentralized social media graph, alongside the protocol's application ecosystem. "Lens Network overcomes the scaling limitations of blockchain and can support mass adoption," said Matter Labs, the team behind ZkSync. "This breakthrough in scalability delivers a user experience on par with traditional social networks while maintaining the benefits of web3." | | | Infinex, a non-custodial cross-chain DeFi platform from Synethix founder Kain Warwick, has amassed more than $60 million in TVL just two days after enabling deposits to its points campaign. Warwick said Infinex will combine DeFi services with the user experience of a centralized exchange. | | |
| | | | | Are you looking for your next 10X? Then don't miss Consensus 2024 – your exclusive pass to cutting-edge alpha. From humble beginnings during Bitcoin's infancy to now welcoming 15,000+ attendees from 100+ countries, Consensus is the biggest and most established global hub for all things crypto, blockchain and Web3. Celebrating its tenth year, Consensus offers an unrivaled, forward-looking perspective on the future of finance, encompassing digital assets, tokenization, blockchain technology, regulation and policy, startups and beyond. | Meet with investors, builders, founders, creators, developers and brands looking to shape the narrative of the digital revolution. Mark your calendar for May 29-31 in Austin, Texas and don't miss this landmark occasion celebrating a decade of decentralizing the future. | Save 15% with code DEFIANT | READ MORE: Celebrating 10 years of decentralizing the future through discovery, dialogue and dealmaking |
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| | | Degen Chain, a Layer 3 network running on top of Base, finally resumed operations after failing to produce a block for more than 50 hours. The price of DEGEN crashed 22% from its local high on May 12 amid the outage. | | | Users are racing to exit Sonne Finance after hackers ransacked the protocol for $20M equating to 57% of its TVL. Sonne's TVL is down 87.5% since before the attack, with the losses compounded by a flurry of user withdrawals in the aftermath of the attack. | | 🌍 ELSEWHERE | Stablecoin Issuer Circle to Make US Legal Home Ahead of Listing (Bloomberg) Ex-BlackRock Bitcoin ETF Lead Appointed New Vanguard CEO (Bitcoin Magazine) Oklahoma signs bill into law protecting crypto spending, mining, and self-custody (CryptoSlate)
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