DeFining news: June 30th, 2023

DAI has moved to a less than 10% reliance on USDC, purchasing $700M in treasuries last week to diversify its holdings and withstand any potential crisis with centralized stablecoins.

Speaking of stablecoins, traders are shorting TUSD amid fears it may again depeg.

KuKoin will make KYC mandatory starting July 1st.

ZkSync has a hyperchain vision via its Zk Stack while its TVA surpasses $600M.

Polygon wants to go the zk way too. At least for its PoS chain. Already, PancakeSwap went live on Polygon’s zkEVM.

MasterCard is launching a pilot Multi Token Network in the UK to test tokenizing bank deposits and other assets.

Victim of own success? Lido’s revenue-sharing proposal gets heavily criticized by opponents who fear it will give Lido even more power (it controls 32% of stETH already) and hurt decentralization.

North Carolina House members voted to include crypto into its balance sheet (aka the state’s treasury).

Optimism revealed another round of rewards for public goods totaling 30M OP (~$40M) and retroactively rewarding those who have been contributing to the Optimism ecosystem.

The EU’s European Data Act is moving forward after lawmakers reached an agreement. It’s controversial partly because of the “kill switch” it requires to be put into smart contracts.

Stay tuned!

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