Translated by elcreto

Xangle’s Take on the Market This Week

• The crypto market enjoyed another strong week off the back of growing expectations for the Fed’s pause.
• The top gainers were NFT (+15%) and games/metaverse (+13%) sectors, getting a jolt from a spike in Axie Infinity (+38%) amid mounting expectations for its new builders program.
• Aptos ripped more than 128% higher without much noticeable momentum, landing 2nd place in the top gainers’ list. The recent upside across the crypto space is considered to have boosted investor confidence, luring speculative demand from mostly retail investors.

Mainnet

TON to Vote on Suspension of 195 Inactive Mining Addresses for 4 Years

Toncoin validators will vote on at least 4-year suspension of inactive mining wallets without a single transaction on the chain in an attempt to optimize token economics.

Link: TON validators will vote on the suspension of inactive addresses holding a total of over 1bn Toncoin

DeFi

Mango Labs Files a Lawsuit to Claim Back the Entire Amount Stolen

Mango Markets developer Mango Labs sued Avraham Eisenberg for damages, the hacker who drained $114M from the platform, in order to recoup the remaining losses from the exploit.

Link: Crypto Exchange Mango Markets Sues Exploiter for $47M in Damages | Repay Bad Debt #2

Temperature Check Open for Deployment of Uniswap on BNB Chain

Plasma Labs has initiated a temperature check vote for a proposal to deploy Uniswap v3 on the BNB Chain.

Link: [Temperature Check] Should Uniswap v3 be deployed to BNB Chain? | Early vote shows strong support for deploying Uniswap on BNB Chain

SushiSwap to Launch a Perpetual DEX on Sei

SushiSwap is launching a perpetual futures exchange on the Sei Layer 1 blockchain.

Link: Sushiswap to launch decentralized exchange for perpetual trading on Sei Network

SushiSwap Community Passes a Governance Proposal on Trading Fees

The Sushi DAO voted in favor of a proposal to redirect all trading frees from xsushi holders to the project’s treasury.

Link: DeFi Protocol Sushi Passes 2 Governance Votes to Strengthen Treasury

dYdX Postpones Token Unlock to December

dYdX delayed its token unlocks initially scheduled for Feb to Dec.

Link: DYdX pushes back $282 million of token unlocks for investors, employees to December from February

NFT

Doodles 2 to Move to Flow Blockchain

Doodles is debuting the Doodles 2 collection slated for the end of the month on Flow, instead of Ethereum.

Link: Doodles 2 arrives with new personalization options and expansion to Flow blockchain

MARBLEX Releases Membership NFTs

Marblex has released membership NFT MARBLERSHIP.

Link: [ANN] MARBLEX MARBLERSHIP Introduction

Games/Metaverse

Axie Infinity Price Shoots Up on the Back of Builders Program Launch Signal

The price of AXS has zoomed nearly 40% in a week since Axie Infinity co-founder Jeffrey Zirlin signaled the release of a new builders program.

Link: Jeffrey Zirlin’s tweet

Macro/Industry/Corporate

Amazon May Make a Foray into Crypto in Apr

Amazon is reportedly planning to launch an NFT service in Apr, embarking on a journey into crypto.

Link: Amazon NFT Initiative Coming Soon: Exclusive

Moody’s Preps Stablecoin Scoring System

Moody’s, one of the three major global credit ratings agencies, is reportedly working on a scoring system for stablecoins.

Link: Moody’s Is Working on Scoring System for Crypto Stablecoins

Research

Circling Tether - Doomberg

U.S. regulatory authorities may regulate Tether, considering the history of their zero tolerance to counterfeit bills.

Link: Circling Tether

Previous Weekly Reports

• [Weekly Xangle] Greenlight for STO, Polygon Hard Fork, DOSI’s LN Payment Support, and More
• 2023 Crypto Outlook: Antifragile
• South Korea Crypto Market Report 2022