Original source: First Class Warehouse (@firstvip 61 )
Ethereum Shanghai Upgrade
The upgrade of Shanghai is the biggest narrative and public expectation in the market in the near future. Before the Shanghai upgrade of the mainnet, there will be 3 testnet upgrade tests (Zhejiang→Sepolia→Goerli). Today, the Shanghai upgrade of Sepolia was successfully activated. If the previous rhythm of promoting a testnet every 3 weeks continues, Goerli, as the most watched and most participated testnet, will activate the upgrade on March 21. This also means that the Shanghai upgrade of the mainnet may occur in April.
We have mentioned related investment targets at the end of January ($ETH, $LDO, $RPL, $SWISE, $ANKR, $FXS, $SSV, etc.). While waiting for the upgrade, readers also need to pay attention to changes in the macro environment, such as the new interest rate decision-making meeting and economic outlook will take place on March 22. The new issue of macro analysis series: U.S. Bond Yield and Market Risk was released today.
DEFI
yearn.finance ($YFI) - The Yearn team recently stated in the community that as the LSD industry is favored by investors, the upcoming yETH token will give users direct access to a basket of Ethereum Liquid Collateral Derivatives (LSD ). yETH essentially helps users diversify the risk of a single LSD, and at the same time obtains additional income through Yearns large veCRV positions in Curve Pools. With the subsequent launch of yETH, it is expected to bring additional income to veYFI stakeholders. It should be noted that the specific launch time of yETH products has not been disclosed yet.
dYdX ($DYDX) —— The development of the v4 version is divided into five phases, and is currently in the second phase milestone (M 2 ). It is expected to launch the personal testnet (M 3 ) by the end of March and complete the third milestone.
Nexus Mutual（$NXM,$wNXM)——The first phase of Neuxs Mutual v2 upgrade has been completed. It entered the second phase on February 27th and lasted until March 5th. During the upgrade period, the claim application will be closed until the upgrade is completed and reopened. The final stage of the v2 version upgrade will start on March 6, when the smart contract will be migrated from v1 to v2. In addition, the user interface UI will also be upgraded, and all upgrades are expected to be completed on March 10.
Synthetix ($SNX) — The v3 upgrade scheduled for March was deployed ahead of schedule on the Ethereum mainnet and Optimism on February 23. The main iterations of v3 include: adopting the CDP model, increasing the depth of on-chain transactions through atomic conversions, supporting the establishment of permissionless spot futures markets, and improvements in clearing and rewards.
Ondo Finance ($ONDO) - Ondo Finance officially launched its new protocol Flux Finance in February, issued OUSG (US short-term treasury bond fund) and officially introduced off-chain bond products into the blockchain, which is expected to be launched successively in March and April Launched OSTB (short-term investment grade bond fund) and OHYG (high-yield corporate bond fund).
L1&L2 s
Fliecoin ($FIL) - FEVM will be released on March 14. Developers will be able to deploy EVM contracts on the Filecoin mainnet through FEVM. Existing Ethereum tools will be compatible with Filecoin, and actors deployed by users can interact with Filecoins built-in actors and Access to Filecoin functions.
Cosmos ($ATOM) – The previously released proposal to activate the Replicated Security function has been passed, and the Cosmos Hub is expected to undergo a v9 lambda upgrade on March 15, which will enforce the operating rules of interchain security (ICS) , allowing other consumer chains to benefit from the security of the Cosmos Hub without having to maintain their own validators. In exchange for this service, consumer chains are expected to send a portion of their fees and inflation to Cosmos Hub validators and delegators, and these tokens will be included in Cosmos Hub’s staking rewards. If multiple subsequent consumption chains start to rely on the Cosmos Hubs validator network, it will be beneficial for ATOM to obtain more value.
Game & NFT
Parallel Life ($PRIME) - Token circulation for $PRIME will begin on March 1st. Parallel Life, a collectible card game with a sci-fi background, previously completed a $50 million financing led by Paradigm at a valuation of $500 million. This is also one of Paradigms few shots in the game field. Parallel Life airdropped tokens to 60,000 addresses holding NFTs of its cards. As of March 1st, the total circulating supply of $PRIME tokens was approximately 20 million (total supply ~110 million). For more fundamental information, please check the SGD Express series of the first-class warehouse.
Yuga Labs ($APE) – Yuga Labs has announced that it will launch the NFT series TwelveFold on the Bitcoin blockchain based on the Ordinals protocol. The collection consists of 300 pieces of limited-edition generative art engraved on the Bitcoin blockchain, each on a 12 x 12 grid, designed and created by Yuga Labs in-house art team, incorporating 3D elements and hand-drawn features. The company stated that TwelveFold has no connection with its Ethereum-based IP, nor will there be any interaction or utility in this regard in the future. The TwelveFold auction will start later this week with 24 hours notice for auction details and exact times. In addition, $APE will unlock 40 million tokens on March 17, accounting for 4% of the total, totaling $232 million.
Illuvium ($ILV) - Illuvium will launch a new NFT collectible game Beyond on March 7th, an interactive and competitive card game based on Illuvitar (a PFP project published by Illuvium) where players can acquire rare collectible Illuvtar NFTs, increasing their rank on the leaderboard to earn more in-game rewards in the Illuvium universe, including the three main games Illuvium: Overworld, Arena, and Zero. Beyond is currently open for registration, and the launch of the game may further enrich the game playability and more social attributes of the Illuvium universe.
other
other
Stargate Finance ($STG) - Stargate will implement a $STG token 1: 1 replacement plan on March 15, aiming to replace the original $STG tokens with the newly issued $STG tokens 1: 1, to Eliminates the risk of illegal transfer of STG from Alamada addresses. Previously, Alamada purchased 10% of the total supply of STG tokens in the Stargate community sale on March 17, 2023, and verbally promised to lock them until March 2025. However, recent on-chain transfer data from the Alameda wallet suggests that Alameda does not have full control over its wallet and that someone is moving funds illegally.
Helium ($HNT) - Helium Network will begin migrating to the Solana chain on March 27th. This upgrade will affect all wallets, Hotspots, and Helium network status and will take place within a 24-hour transition period. The existing Helium blockchain will cease functioning during a 24-hour transition period on March 27. Data transfer and Proof-of-Coverage activities will not be affected.
Umee ($UMEE) – Umee, the Cosmos ecological cross-chain DeFi protocol, announced that it will launch the first phase of Umee Gravity Bridge closure before the end of March. In the future, we will cooperate with Axelar, and Axelar Bridge will become the official bridge connecting Ethereum and Cosmos. It is still possible to transfer tokens back to Umee using Gravity Bridge, but it is officially not recommended to use Gravity Bridge to transfer any tokens from Umee to Ethereum. On April 1st, the function of transferring assets from Gravity Bridge Umee to Ethereum will be disabled. It is also planned to completely shut down Gravity Bridge by the end of May.
*Log in to first-class warehouse (first.vip) to view the fundamental details of the above items
