Weekly Project Updates: Avail DA Mainnet Launches, Base Chain Supports Donations to U.S. Politicians, UniswapX Major Upgrade, etc

5 min readJul 27, 2024

1. Avail DA Mainnet and AVAIL Token Launch, Supporting AVAIL Staking link

The modular blockchain project Avail has announced the launch of its Avail DA mainnet and AVAIL token. Avail DA is a modular blockchain solution designed to optimize Data Availability (DA), enabling highly scalable and customizable rollups. The AVAIL token will serve as the native asset of the Avail network, used for paying DA fees and ensuring network security through staking. Additionally, AVAIL holders will be able to start staking their AVAIL tokens.

Avail has raised a total of $75 million, supported by investors such as Founders Fund, Dragonfly Capital, and Cyber Capital. Two significant developments in progress include the interoperability layer Avail Nexus and the security network layer Avail Fusion. Avail DA supports various blockchain architectures, including Validiums, Optimiums, Sovereign Rollups, and BTC L2s, and has secured over 70 partnerships, which will gradually integrate with Avail DA.

2. U.S. Politicians Can Accept Cryptocurrency Donations on Base Chain link

U.S. politicians can now accept cryptocurrency donations on the Base chain. According to the Supportcrypto website, supporters can choose from over 240 cryptocurrencies, including Bitcoin and Ethereum, or make donations via credit card. Base Network head Jesse Pollak stated that while the platform is operated by a company called Engage Raise, Coinbase Commerce provides the underlying support.

3. BEVM Launches Bitcoin Layer 2 Network Sats Network link

On Friday, BEVM launched the Sats Network, a Bitcoin Layer 2 network built on the BEVM-Stack and utilizing BRC20 inscriptions Sats as gas. The network employs BEVM’s Taproot Consensus technology framework, ensuring equivalent network security to BEVM. It will enable Sats holders to become validation nodes by staking Sats and earn network gas rewards. The official statement notes that the Sats Network will be entirely operated and governed by its community users.

4. Core Foundation Announces Dual-Staking Model to Enhance Bitcoin Staking Yields link

The Core Foundation has announced a dual staking model to enhance Bitcoin staking rewards. This model will further incentivize long-term investors in Core’s Bitcoin staking — by simultaneously staking Bitcoin and CORE, their Bitcoin staking rewards will be increased. Core is a Bitcoin-driven, EVM-compatible Layer 1 blockchain, with over 4,844 BTC currently staked on Core’s non-custodial staking platform.

5. Lightning Labs Introduces First Multi-Asset Lightning Protocol, Taproot Assets link

Lightning Labs has announced the launch of Taproot Assets on the mainnet, marking the debut of the first multi-asset Lightning protocol. This innovation enables assets to be minted on Bitcoin and sent instantly with low fees through the Lightning Network, thus making Bitcoin and Lightning a scalable multi-asset network while leveraging Bitcoin’s security and decentralization. Over the past few months of development, early adopters have collaborated with the Lightning team to iteratively mint more than 170,000 assets on-chain, and to build wallets, exchanges, and universe browsers. Additionally, with the design of the Taproot Assets protocol, asset issuers no longer need to establish their own liquidity and routing node sub-networks; they can instead leverage the existing network effects from the 5,400 BTC allocated to the Lightning Network.

6. Uniswap Labs: UniswapX Undergoes Major Upgrade link

Uniswap Labs has officially announced a major upgrade to UniswapX, deploying a new auction contract and redesigning the order quoting process. This upgrade promises a faster quoting experience, improved trade execution, and increased MEV returns for traders. The upgrade has been rolled out on the Uniswap web application and is soon to be available on mobile apps. Notably, if UniswapX fillers offer better prices, trades will be executed through UniswapX; otherwise, if Uniswap v2 or v3 offers better prices, trades will be executed via AMM.

7. Jupiter Slorg: Status of 30 Celebrity Tokens Launched on Solana Network Last Month Raises Concerns link

Last month, 30 celebrity-endorsed MEME tokens emerged on Solana, featuring notable figures from Andrew Tate to Soulja Boy. On average, these tokens have declined by 94% from their all-time highs (ATH). Even the best-performing tokens have dropped by over 70%, with half of them experiencing declines exceeding 99%. Only 40% of the celebrities mentioned their tokens at least once in the past week, and most tokens have languished after an initial surge.

8. Securitize Proposes Ethena Allocate Majority of Reserve Fund to BUIDL Fund link

Securitize, the distributor of the BlackRock BUIDL Fund, has submitted a proposal to Ethena suggesting that it allocate a significant portion of its reserve fund to the BUIDL Fund. This proposal is part of Ethena’s formal process to evaluate investment opportunities for its reserve fund. Ethena plans to invest its reserve fund in a diversified portfolio of assets that meet the fund’s investment criteria. The proposal will be reviewed and considered by Ethena Foundation’s independent risk committee.

9. Layer3 Opens Airdrop Query link

The distribution, identity, and incentive infrastructure Layer3 has opened its airdrop query. L3 tokens will be allocated based on users’ historical and current activities, including the number of CUBE tokens, task completion, cross-chain interactions, and exchange volumes, with a minimum requirement of 50 CUBE by May 10. Users must also mint a Trident NFT to participate in the second season of distribution.

Layer3 completed a $15 million Series A funding round in June this year, led by ParaFi and Greenfield Capital. Additionally, Layer3 raised $3.7 million in strategic funding in 2022, and $2.5 million in 2021, bringing its total funding to $21.2 million.

10. Mystiko Network Suspected of Extensive Insider Trading in 2nd Airdrop link

Community feedback and on-chain data tracking have suggested significant insider trading activities during Mystiko Network’s 2nd Airdrop. The official Mystiko-Vault Community Incentives address (0xBc…25d6) distributed 20 million XZK in seven bulk transactions to 1,487 newly created addresses via the Multisender app on July 5 at 16:22 UTC. These thousands of new addresses displayed a common pattern: within a day of receiving XZK, they received Gas funds from OKX or Bybit. Subsequently, these addresses wrapped their XZK into vXZK to qualify for the airdrop. Notably, the amount of airdropped XZK these addresses received was higher than what regular users obtained. For instance, new addresses 0xda…77D4, 0x80…Bf8e, and 0x95…4800 each wrapped 9,073 XZK, receiving 60,000, 51,600, and 51,800 XZK in airdrops, respectively. It is worth mentioning that Mystiko Network secured $18 million in funding led by Sequoia India earlier this year.

Weekly Project Updates: Avail DA Mainnet Launches, Base Chain Supports Donations to U.S. Politicians, UniswapX Major Upgrade, etc

Written by WuBlockchain