Weekly Market Highlights - Updated Tech Roadmap for BNB Greenfield

Macro/TradFi El Salvador’s Bitcoin bonds have reportedly received regulatory approval by the Digital Assets Commission and are anticipated to launch in early 2024. The Financial Accounting Standards Board (“FASB”) has published an Accounting Standards Update (“ASU”) that will let corporations recognize fair value changes in crypto holdings. Fnality, a London-based blockchain payments firm, has commenced the first phase of Sterling transactions based on a wholesale digital-cash settlement system that relies on blockchain technology. Crypto L1/L2: BNB Chain has published the tech roadmap for BNB Greenfield, its decentralized storage network. Developers and users can look forward to higher performance, improved development experiences and an expansion of its multi-chain capabilities. Celestia will integrate its data availability solution with the Polygon Chain Development Kit (“CDK”). This will allow projects using Polygon CDK to access Celestia’s data availability solution to reduce Ethereum Layer 2 costs. Starkware, the firm behind Layer-2 Starknet, and the Starknet Foundation have announced that around US$3.5M of network fees paid will go to developers as part of a recently announced “Devonomics” program. Coti, a blockchain platform designed for enterprises, is set to transition to a privacy-focused Layer-2 on Ethereum next year. Vitalik Buterin has proposed the idea of an “enshrined zkEVM” which involves embedding a zkEVM directly into the Ethereum blockchain. The aim is to enhance the efficiency and security of Ethereum’s Layer-2 protocols. Manta Network has launched “New Paradigm”, allowing users with assets on its layer-2 to earn native yield. DeFi: Ethereum staking infrastructure provider SSV has launched its permissionless mainnet. SSV uses distributed validator technology which allows Ethereum validators to share responsibilities with multiple parties, thereby enhancing the security and resilience of Ethereum staking. Uniswap has expanded to Bitcoin sidechain Rootstock, enabling on-chain swaps, liquidity depth and yield opportunities on the network. Synthetix, a derivatives protocol, has passed a governance proposal to end SNX token inflation. DEX aggregator platform, OKX DEX, was exploited for around US$370K. OKX has confirmed affected users will be compensated. NFT: NFT project Pudgy Penguins has announced plans to release “Pudgy World,” a new blockchain game that will be powered by zkSync’s technology. Donald Trump has announced a new NFT collection, the “Mugshot Edition”. Each NFT is priced at US$99 and those who buy 47 or more will be able to have dinner with the former president. LINE NEXT, the South Korea-based NFT arm of messaging giant LINE, announced today that it has secured a US$140M investment. With this investment, LINE NEXT plans to introduce new services to further accelerate Web3 popularization Others: Coinbase has launched Project Diamond, a smart contract-powered platform for institutions to create, buy, and sell digitally native assets. German asset manager DWS has partnered with Flow Traders and Galaxy with plans to jointly issue a euro-denominated stablecoin. Ledger’s Connect Kit library was compromised on Thursday, affecting the front end of several decentralized applications, and reportedly led to around US$484K of funds stolen. Ledger has since confirmed that a new update has been propagated and the malicious code has been deactivated.   Latest Binance Research Publications  Check out our latest publications: A Primer on On-Chain Gaming Are We Entering a Bull Market? 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