GM Digest #382 — Are We Back?
Good Morning with Valuable Alpha / News
Chain Signatures on Near
• Chain Signatures has launched on @NEARProtocol mainnet, enabling smart contracts to sign transactions on any blockchain via a decentralized multi-party computation (MPC) network
• This solution simplifies multichain dApp development by allowing a single NEAR smart contract to interact with all chains, supporting every blockchain without native integration
• Another key component of Chain Signatures is the Multichain Gas Relayer, which simplifies transactions by eliminating the need for users to acquire separate gas tokens for each blockchain. Instead, the Relayer handles gas payments on the destination chain, allowing users to pay in assets they already hold
• Currently five applications with over 6 million active users are using Chain Signatures, with more projects in development
Franklin Templeton x Arbitrum
• @FTI_DA, a major asset manager, has launched its on-chain U.S. Government Money Fund (FOBXX) on @arbitrum
• This expansion is part of their strategy to integrate blockchain technology into TradFi
• Investors can access FOBXX through the Benji platform, with options for retail and institutional users
Introducing Hyperlane Foundation
• Today the @hyperlane_fdn was introduced, meaning the $HYPE token TGE and airdrop are near
• They also introduced $HYPE for the first time, a token to establish a developer-owned network and the Hyperlane Alliance, which will guide the network's future and oversee a grants program for contributors
Introducing Vase Finance
• @VaseFinance introduces liquid restaking for any staking asset, leveraging Proof of Liquidity (PoL) on @berachain to enhance both liquidity and security
• Unlike traditional restaking confined to a single ecosystem, Vase supports liquidity from all ecosystems
• It issues native Liquid Staked Tokens (LSTs) on Berachain, preserving native exposure and staking rewards
• Vase also offers Liquid Vested Tokens (LVTs) for early liquidity on locked tokens. The platform aims to be the gateway for staking assets on Berachain
Introducing Commonware
• @_patrickogrady introduced @commonwarexyz, building an open, Rust-based blockchain framework for excessive throughput, tractable modification, and embedded interoperability
• It will be able to handle surging load with Decoupled State Machine Replication (DSMR), inject novel low-level functionality without maintaining a fork and communicate with external deployments using static identities with efficiently verifiable consensus artifacts
• The team has launched the Commonware Framework with their p2p now available in Alpha under the Apache-2 and MIT license
Introducing USDx
• @synthetix_io introduced USDx, the Synthetix native stablecoin on Arbitrum
• USDx is backed by crypto assets and will have 2 functionalities:
⇢ For Depositors (LPs): USDx can be used as a loan against collateral deposited into the Synthetix protocol, allowing them to have access to additional liquidity while earning LP rewards from trading fees and incentives
⇢ For traders: USDx can be used as collateral to execute trades on Synthetix Perps
• USDx is collateralised by approved assets such as USDC, USDe, ARB, ETH etc. The same collateral also supports Synthetix Perps by providing the necessary liquidity for the derivatives market
• Additionally, users can enjoy 0% interest rates for minting USDx however this is dependent on market conditions
• Users can mint USDx by depositing into the Synthetix V3 protocol on Arbitrum and then minting USDx. The USDx can also be used to earn additional yield via LPing on Ramses and Curve
Misc News
• @blast gold phase 2 distribution is live, 11M gold allocated to dApps