Restaking^18

With the halvening, we’ll likely see increased activity on Bitcoin, given that most runes (Bitcoin native tokens airdropped/emitted to ordinals) will unlock following the halvening. Might be a good idea to look into the Bitcoin ecosystem soon!

Author

Boccaccio
April 09, 2024

👋 GM.

Welcome back to 0xResearch – quick hitting alpha for the crypto degens. Here's what we got for you today:

  • Monad announced their $225M raise

  • Karak launched initial deposits into their new restaking primitive

  • Andre Cronje, released a new article earlier today on launching “safe” memecoins on Fantom

  • dYdX chain stopped producing blocks for 9.5 hours yesterday

Guten morgen (“gm”). As BTC continues to chop around $65K-$73K, we’ve had a plethora of news regarding private markets over the past day. Monad announced their $225M raise, led by Paradigm, earlier today. Karak announced their $48M raise at $1B valuation, and launched initial deposits into their new restaking primitive.

Apart from private markets, memecoins continue to dominate mindshare across the space. Fantom founder, Andre Cronje, released a new article earlier today on launching “safe” memecoins on Fantom, suggesting that developers should allocate up to 10% of tokens for marketing expenses and 5% for team expenses, with both amounts locked in a multisig wallet, and the remaining 85% of tokens would be provided as liquidity for an FTM/token pool on a Fantom AMM.

Over in DeFi, we saw dYdX chain stop producing blocks for 9.5 hours yesterday, because the wrong version of a bug fix in Cosmos’ IAVL library was included in the dYdX software release, which led to a corruption in the network’s state during the upgrade.

Lastly, we have the halvening fastly approaching in just over a week. With the halvening, we’ll likely see increased activity on Bitcoin, given that most runes (Bitcoin native tokens airdropped/emitted to ordinals) will unlock following the halvening. Might be a good idea to look into the Bitcoin ecosystem soon!

— Boccaccio (X: tripleboccaccio | Farcaster: boccaccio)

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The insights, views and outlooks presented in the report are not to be taken as financial advice. Blockworks Research analysts are not registered broker/dealers or financial advisors. Blockworks Research analysts may hold assets mentioned in this report, further outlined in the Firm’s Financial Disclosures.