Recapping the Week in DeFi

As the DeFi and crypto space continues to evolve at a rapid pace, it's essential to stay informed about the latest developments and trends. Our weekly recap provides you with a concise yet comprehensive overview of the most significant news and trends in the DeFi and crypto space, helping you stay informed and up-to-date with the latest happenings.

Binance Labs Invests in Renzo as A16z Commits $100M to EigenLayer

Binance Labs has invested in Renzo, an Ethereum liquid restaking protocol leveraging EigenLayer tech. Concurrently, Andreessen Horowitz (a16z) has backed EigenLayer with a substantial $100 million. EigenLayer, leading in Ethereum restaking, previously raised $50 million in a round led by Blockchain Capital.

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Optimism Launches 4th Airdrop, Awarding $38 Million in $OP Tokens to Web3 Artists

Optimism, a Layer 2 network, launched its fourth airdrop, allocating 10,343,757.81 OP tokens, valued at around $38 million, to appreciate and incentivize web3 artists. This airdrop specifically targets NFT creators who have significantly contributed to the cultural landscape of the Superchain.

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Uniswap Foundation Proposes Governance Overhaul, UNI Soars 60% on News

The Uniswap Foundation has unveiled plans to revamp fee structures to better reward holders of its native UNI tokens. The proposed changes aim to reinvigorate Uniswap's governance framework by enhancing protocol fee collection and distributing these fees proportionately to UNI token holders who have staked and delegated their votes. Following this announcement, Uniswap's native token (UNI) surged over 60% from $7.24 to $12.6.

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Avalanche Blockchain Faces Temporary Halt Due to Technical Disruption

On February 23, the Avalanche blockchain encountered a disruption in its proof-of-stake (PoS) network, temporarily halting block production and impacting network functionality. Kevin Sekniqi, co-founder of Ava Labs, confirmed the incident and stated that it was caused by a code-related bug rather than performance issues. The team is investigating the disruption, with suspicions initially focusing on a recently initiated "inscription wave" preceding the block production problems. 

Learn more in the article.

Starknet Userbase Plummets 65% Amid Controversial Airdrop Amendments

Starknet, Ethereum's layer-2 blockchain, experienced a rollercoaster week with a surge and subsequent plummet in active users. Within seven days, user numbers dropped by a staggering 65%, from over 220,500 to just over 84,260. The surge was initially fueled by excitement over the Starknet Provisions Program airdrop, but anticipation turned to disappointment as details for the airdrop were shared. 

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