Summary
Lending: MakerDAO RWA size grows to 2.707 billion. The size of Dai increased to 5.511 billion, breaking the previous high in half a year.
LSD: The ETH pledge rate rose to 22.35% last week, a month-on-month increase of 1.08%. Last week, 26.87 million ETH were locked in the beacon chain, corresponding to a pledge rate of 22.35%, a month-on-month increase of 1.08%; of which there were 804,000 active verification nodes, a month-on-month increase of 2.09%, and 31,100 queued verification nodes, a month-on-month decrease of 20.69 %. This week’s ETH staking yield is approximately 3.60%.
Ethereum L2: The total amount of Layer 2 TVL increased by US$260 million compared with last week, and the total locked amount was US$9.66 billion. Various data on Base continued to rise and hit record highs. On September 14th, the number of Base transactions exceeded the sum of Arbitrum and Optimism.
DEX：Dex combined TVL 11.72 billion,Same as last week. Dexs 24-hour trading volume is million, and its 7-day trading volume is 11.61 billion, an increase of 2.5 billion from last week. The market rebounded this week, with trading volume picking up.
POW: With the rebound of BTC this week, several major projects with the highest market value on the POW track have experienced significant increases. KSA was the top performer, with a 7-day gain of 24.9%. BCH followed, with a 7-day increase of 17.6%. LTC ranked third, with a 7-day increase of 12.7%. FLUX was up a smaller 2.8%. DNX was the weakest, still in correction, down 8.6%.
loan
MakerDAO
The current RWA scale has reached US$2.707 billion, nearly doubling compared to 3 months ago. The size of Dai in DSR increased to 1.58 billion, an increase of US$270 million within a week, accounting for 28.7% of the total amount of Dai.
Aave
The Aave community is currently voting on a proposal to increase the GHO lending rate from 1.5% to 2.5% to maintain the GHO anchor. The current total amount of GHO is 23.02 million, which has remained basically unchanged since August 13. The main problem still lies in the lack of places to use GHO stablecoins.
LSD
Last week, the ETH pledge rate rose to 22.35%, a month-on-month increase of 1.08%. Last week, 26.87 million ETH were locked in the beacon chain, corresponding to a pledge rate of 22.35%, a month-on-month increase of 1.08%; of which there were 804,000 active verification nodes, a month-on-month increase of 2.09%, and 31,100 queued verification nodes, a month-on-month decrease of 20.69 %. This week’s ETH staking yield is approximately 3.60%.
ETH staking increased by 1.08% month-on-month this week
Source: LD Capital
This week’s ETH staking yield is 3.60%
Source: LD Capital
Among the three major LSD protocols, from the perspective of price performance, LDO rose by 3.9% in the week, RPL rose by 1.2%, and FXS rose by 4.8%; from the perspective of ETH pledge volume, Lido rose by 0.72% in the week, Rocket Pool rose by 0.45%, and Frax rose by 0.72%. 0.55%. The current Rocket Pool deposit pool balance is 18,348 ETH, the RPL pledge rate is 49.01%, and the effective pledge rate is 91.25%. SSV’s daily chart has been positive for 7 consecutive days. After the mainnet line entered the third stage, the currency price outperformed the market. Follow-up attention will be paid to whether the growth of the protocol TVL is higher than expected; Frax V3 is expected to release a white paper in late September.
Ethereum L2
TVL
The total amount of Layer 2 TVL increased by US$260 million compared with last week, and the total locked amount was US$9.66 billion.
Source: L 2b eat, LD Captial
OP Mainnet
1. OP Labs announced on September 14 that OP Stack’s first fault-proof system has made significant progress, and we are preparing to test the system on OP Goerli
2. The opBNB mainnet was officially launched on September 13. In the future, it will focus on enhancing the elasticity and decentralization of the network through Proof Enhancement, account abstraction, data availability of BNB Greenfield, interoperability with BNB Greenfield, decentralized sorter, etc. degree of centralization
Base
Thanks to the continued popularity of FrienTech, base on-chain data hit a record high last week. Among them, the number of independent user addresses exceeded 280,000, the total value of the bridge exceeded 180,000 ETH, and the number of transactions exceeded the total number of transactions on the Arbitrum and Optimism mainnets on September 14.
Source: Dune
Mantle
1. Mantle Network announced on September 14th that it has established a partnership with the Ton Foundation affiliated with Telegram. Ton’s main network will support transactions of Mantle’s token MNT, and Mantle can use Telegram’s built-in TON wallet to provide services to users.
2. Mantle Network announced on September 13 that it will support the tokenized note USDY of the structured protocol Ondo Finance to help Mantle expand into the RWA field.
On-chain activity
Source: Artemis
DEX
Dex combined TVL 11.72 billion,Same as last week. Dexs 24-hour trading volume is million, and its 7-day trading volume is 11.61 billion, an increase of 2.5 billion from last week. The market rebounded this week, with trading volume picking up.
Ethereum
ETH L2/sidechain
BTC L2/Sidechain
Alt L1
POW
With the rebound of BTC this week, several major projects with the highest market value on the POW track have experienced significant increases. KSA was the top performer, with a 7-day gain of 24.9%. BCH followed, with a 7-day increase of 17.6%. LTC ranked third, with a 7-day increase of 12.7%. FLUX was up a smaller 2.8%. DNX was the weakest, still in correction, down 8.6%.
24-hour output and computing power
According to the information disclosed by F2Pool, you can see the 24-hour output of the POW series tokens and the computing power of the entire network. In terms of output ranking, KAS ranks third, behind BTC and DOGE; LTC ranks fourth; BCH ranks sixth; DNX ranks ninth.
In GPU mining, DNX currently occupies the largest computing power, higher than ETC and RVN. After KAS was transferred to professional mining machines for mining, its original GPU computing power was transferred to DNX.
Project Progress
LTC and BCH are relatively early POW tokens, and the project ecology has not developed significantly. They mainly rely on long-term precipitation and the status formed by the miner community.
Both KAS and DNX are new POW tokens generated after 2021. KAS has absorbed the GPU computing power after Ethereum was converted to POS, and has developed rapidly. Its market value has exceeded US$1 billion, and its price reached an all-time high this week. Major developments over the past month include:
l At the end of August, Rusty Kaspa was updated.
Rust node development is divided into three parts: 1. Stress testing the network to withstand higher loads. 2. Release a stable Rust node that will replace the Go client on mainnet (before any hard forks). 3. Improve the API to make integration and development on Kaspa easier.
The current progress is that the first two items have been basically completed and the code is being audited. On the API side, the JavaScript/TypeScript WASM SDK (and all its supporting infrastructure) is entering the final stages of development.
l On September 2, Bitmart Exchange was launched.
l On September 6, it was launched on Bybit exchange.
DNX is a cloud computing platform that can perform AI training. The price previously rose to $1.3 before entering a correction period. Currently, the project still maintains good POW output and occupies the largest computing power on the GPU. The main development in the past month was the launch of the f 2 pool on September 5th.
