Biweekly Observation of the Decentralized Finance Industry

1. Important Developments in the Decentralized Finance Industry

1. Uniswap launches new Layer 2 network Unichain

Uniswap Labs has launched the Layer 2 network Unichain based on Optimism technology, which is planned to go live on the testnet on October 10, and the mainnet will be released by the end of the year. Unichain introduces the trusted execution environment (TEE) technology, which can shorten the block construction time to 200-250 milliseconds, significantly improving transaction speed.

2. A trading platform has launched Scroll ($SCR) token

Scroll is an Ethereum Layer 2 zkRollup solution that uses zero-knowledge proof technology to enhance Ethereum's scalability. Scroll has collaborated with the Ethereum Foundation to develop the PipeZK hardware accelerator, achieving GPU validation speeds that are 10 times faster than CPU. The SCR token will be used for governance, validation, and other functions, with an initial circulation of 190 million tokens.

3. Native USDC launched on the Sui mainnet

Native USDC has been launched on the Sui mainnet, allowing developers and users to access it directly without cross-chain bridging. Circle Mint and the API have fully supported USDC on Sui, making it easier for users to obtain USDC liquidity. Sui is the first blockchain based on the Move language to support native USDC, and its ecosystem already includes over 85 applications.

4. The U.S. court has not approved the sale of Silk Road Bitcoin

Recent rumors suggest that the U.S. Supreme Court has approved the sale of Bitcoin seized from Silk Road, leading to a drop in Bitcoin prices. In fact, the court only dismissed the lawsuit over the ownership of these Bitcoins, confirming that they still belong to the government and did not approve their sale. Considering the upcoming elections, the possibility of the government selling them still exists, but there is no need to panic at this time.

5. The Sui ecosystem Decentralized Finance projects are developing rapidly

The Sui ecosystem is currently focused mainly on Decentralized Finance and Meme projects. The main DeFi projects include:

Lending Protocol: Navi Protocol, Suilend, Scallop Decentralized Exchanges: Cetus, Turbos Finance, DeepBook Others: Bucket Protocol ( stablecoin ), Bluefin ( derivatives trading ), Typus Finance ( derivatives infrastructure )

6. Pyth partners with Uniswap

Uniswap announced that its newly developed blockchain Unichain has selected Pyth Network as its real-time data service provider. Pyth will provide Unichain with over 500 real-time price data sources, updating every 400 milliseconds, ensuring developers obtain accurate and reliable Decentralized Finance data.

7. Aptos sets a new daily trading volume record for L1 blockchain

The Messari report shows that Aptos set multiple new records in the second quarter:

• Daily trading volume increased by 474%, reaching 4.4 million transactions.
• DeFi TVL increased by 123% quarter-on-quarter, reaching $603 million.
• DEX daily trading volume increased by 189%, reaching 30 million USD

8. A trading platform invests in ZKsync "Elastic Chain" Sophon

Sophon is an elastic chain based on ZKsync, built using Matter Labs' modular open-source framework. Sophon focuses on entertainment applications such as gaming, social, and AI, utilizing ZK Stack technology to achieve gas-free native account abstraction. The mainnet is expected to launch next month.

2. Decentralized Finance Data Dashboard

1. TVL data

Sui blockchain's TVL ranking has successfully entered the top ten, demonstrating its strong growth momentum in the Decentralized Finance sector.

2. Stablecoin Data

The total market capitalization of the global stablecoin market reached $172.818 billion, a slight decrease of 0.19% over the past week. USDT market share is 69.26%, and USDC is 20.1%.

3. DEX Data

The DEX trading volume has slightly decreased over the past week, but Cetus has grown by 64.20%. Uniswap's 24-hour trading volume is $1.542 billion, with a 7-day total of $9.799 billion. PancakeSwap's 24-hour trading volume is $1.044 billion, but it has seen a weekly decline of 23.92%.

3. Outlook for the Decentralized Finance Industry

After Uniswap launched Unichain, it is expected to attract a large amount of DeFi liquidity again. As a super chain architecture, Unichain can integrate multiple ecosystems, and the TVL may reach the level of tens of billions of dollars. The status of the UNI token may be significantly enhanced, becoming an existence that surpasses public chain tokens. The future Liquid Staking/Restaking market for UNI will bring more opportunities. We are optimistic about DeFi protocols that seize the Unichain opportunity first.