1. Today's News
Kevin Owocki, founder of Gitcoin: As of the 4th day, the number of GG20 projects exceeded 550
According to Mars Finance, Gitcoin founder Kevin Owocki posted on the X platform that the statistics for the fourth day of GG20 are as follows: matching pool of $1.647 million, total donations of $138,000, total donations of 31,885, 11,654 independent donors, total rounds of 11, and total projects of 558. Earlier, Gitcoin announced that GG20 has been launched, providing a total of more than $1.4 million in matching funds, and will run on Arbitrum.
Uniswap founder appears to respond again to the U.S. SEC's Wells Notice
According to Mars Finance, Uniswap founder Hayden Adams posted on the X platform that “if they impose taxes on unrealized gains, they need to repay Uniswap LP’s Impermanent Loss.” This statement is suspected to be another response to the U.S. SEC’s issuance of the Wells Notice.
Jupiter launches Jito Bundles reward function to help users avoid MEV attacks
According to Mars Finance, Jupiter announced on the X platform that in order to protect users from MEV, users can tip using Jito Bundles, which will hide transactions from searchers looking for MEV opportunities and minimize losses from sandwich or other MEV attacks.
Ethereum L2 TVL is $38.04 billion, down 0.82% in 7 days
According to Mars Finance, the latest data shows that the current Ethereum Layer2 TVL is $39.08 billion, with a 7-day increase of 1.08%. Among them, the top three TVLs are: Arbitrum One TVL is $16.91 billion, with a 7-day decrease of 0.92%; OP Mainnet TVL is $6.71 billion, with a 7-day decrease of 0.49%; Base TVL is $5.34 billion, with a 7-day decrease of 8.01%;
According to Mars Finance, Dominic Williams of the Dfinity Foundation said that 95% of blockchains are "garbage" and the industry seems to care more about narrative than substance. Williams said that some popular blockchains are very good for processing transactions, but he is not very confident that they can form the basis of a new, decentralized Internet that is widely accepted by mainstream users. He believes that the Internet Computer protocol is the "only third-generation" blockchain that can promote a new era of fully on-chain online interactions.
Solana co-founder: meme coins are scaring off serious builders
According to Mars Finance, Solana co-founder Raj said in a tweet that meme coins are scaring away serious builders. But he reminded these serious builders that if you are fragile enough to be afraid of the way young people choose to use permissionless systems to have fun, then you will not be able to succeed at all.
Xterio: Currently over $4 billion worth of ETH is staked on Xterio Chain
According to Mars Finance, blockchain game publisher Xterio posted on social media that currently more than $4 billion worth of ETH is staked on Xterio Chain.
Russian users demand Beribit return over $4 million
According to Mars Finance, Russian authorities raided the offices of cryptocurrency exchange Beribit in late March, allegedly in connection with the Crocus City Hall terrorist attack. Subsequently, Beribit, an officially authorized Russian exchange, announced on Telegram that during the leadership change, discrepancies were found in the company's financial situation and an audit was required. Now, tensions appear to have erupted, with more than 50 Beribit customers occupying the exchange's offices, demanding the return of more than $4 million in funds, according to Russian-language news site Gazeta.Ru. Videos circulating on social media show customers receiving chocolates and promised that the deposit will be settled within 1-15 days. Meanwhile, Russian Duma lawmakers have proposed legislation to ban cryptocurrency exchanges in the country.
Cyber Capital founder: ETF is a perfect example of the decline of BTC culture and technology
According to Mars Finance, Justin Bons, founder of Cyber Capital, said on the X platform that ETFs are a perfect example of the decline of BTC culture and technology. When the most exciting use cases of BTC are old-school CeFi products, it should sound the alarm, because this is not a cryptocurrency revolution, and BTC has become a speculative plaything of the elites.
Slowmist report: Scammers use fake USDT balances to defraud cryptocurrency users
According to Mars Finance, SlowMist has partnered with Imtoken to expose a new cryptocurrency scam that uses offline transactions and uses USDT. Scammers manipulate Ethereum RPC to forge the USDT balance in victims' wallets. Scammers trick victims into changing their Ethereum RPC URLs to URLs they control, making it look like they have deposited USDT funds, only to leave victims empty-handed when they try to trade. In addition, the scam deceives users through small transfers to gain trust, and then manipulates account balances and contract information, posing serious risks to unsuspecting users and is related to a wider pig slaughter scam campaign.
ezETH’s trading volume exceeded $1.5 billion on April 24, the day it depegged
According to Mars Finance, according to IntoTheBlock, ezETH was briefly decoupled on Wednesday, with prices on different chains varying widely. As liquidations and panic spread, its trading volume exceeded $1.5 billion on April 24. Despite this uncertainty, ezETH is still fully collateralized and there seems to be no further risk at present.
Samson Mow: Halving and surge in spot ETF demand may push Bitcoin price to $1 million
According to Mars Finance, Jan3 CEO Samson Mow recently participated in a discussion about Bitcoin user privacy and the true identity of Satoshi Nakamoto.
When talking about privacy and how it can be maintained, Mow referenced Satoshi Nakamoto’s vision for privacy in the Bitcoin whitepaper. Satoshi proposed a way to preserve privacy as an alternative to the banking model, “The traditional banking model achieves a certain level of privacy by limiting access to information to only interested parties and trusted third parties.” However, Satoshi proposed that Bitcoin could maintain privacy by keeping private keys anonymous. This way everyone can see that one party is sending funds to another, but the wallet will remain anonymous and transactions will not be associated with a specific individual.
In addition, Mow believes that the recent halving event coupled with a surge in demand for Bitcoin spot ETFs, when the supply shock meets the demand shock, may trigger the emergence of the Omega candle pattern, which is expected to push the Bitcoin price to the $1 million milestone.
According to Mars Finance, Marina Markezic, executive director of the European Crypto Initiative, predicted in an interview that Europe's upcoming DeFi protocol rules may pose significant obstacles to crypto-native projects while encouraging licensed traditional financial institutions to join.
Markezic discussed the European Commission’s DeFi report, which will be published on December 30. The report is being conducted under the framework of Markets in Crypto-Assets (MiCA) and will examine the feasibility of specific regulation of the DeFi ecosystem.
“We think the new rules under the MiCA framework could encourage large banks to enter the DeFi space,” Markezic said. “We know some banks are already considering issuing stablecoins. Whatever we’ve seen being developed over the years… now from an institutional perspective, it will definitely be harder for all crypto-native projects to get licensed and compliant.”
Wasabi Wallet developer zkSNACKs blocks US users
According to Mars Finance, zkSNACKs, the developer of the privacy-focused Bitcoin wallet Wasabi Wallet, announced that it will indefinitely ban U.S. users from accessing Wasabi Wallet and other services.
The decision was likely prompted by the arrest earlier this week of the two founders of Samourai Wallet, a Bitcoin wallet that also includes privacy features.
Its announcement stated that in view of the recent announcement by the US authorities, zkSNACKs currently strictly prohibits US users from using its services, including prohibiting US citizens and residents from accessing its website, downloading and using the Wasabi wallet and any related products and services, including APIs and RPC interfaces.
According to Mars Finance, according to Spot On Chain monitoring, before the ETH price rose yesterday due to the listing of the Franklin Ethereum Spot ETF code on the DTCC website, three new whales withdrew 11,557 ETH (about 36 million US dollars) from Binance for the first time, with an average price of about 3,116 US dollars. Now these whales have unrealized profits of 1.76 million US dollars (+5%).
According to Mars Finance, Coingecko data shows that the total market value of cryptocurrencies is 2.503 trillion US dollars, with a 24-hour increase of 3.1%. In addition, BTC has a market share of 50.2% and ETH has a market share of 16%.
According to Coinglass data, the entire network had a liquidation of US$96.3469 million in the past 24 hours, of which long positions had a liquidation of US$27.5355 million and short positions had a liquidation of US$68.8114 million.
OP_CAT will be launched on the Bitcoin Signet testnet next Tuesday
According to Mars Finance, OP_CAT (i.e. BIP-420) is scheduled to be launched on the Bitcoin Signet testnet at block height 193,536 (expected to be next Tuesday).
Signet is a Bitcoin test network designed for developers to test software. It has no miners, does not require proof of work, and creates a block every 10 minutes on average.
Earlier news, Bitcoin Improvement Proposal BIP-420 has officially introduced the restoration of the OP_CAT opcode, which aims to enable Bitcoin covenants and support the development of smart contracts, security bridges, and on-chain transactions. The BIP-420 proposal was written by Ethan Heilman and Armin Sabouri, and aims to reintroduce OP_CAT into Bitcoin through a backward-compatible soft fork by "redefining the opcode OP_SUCCESS126."
Earlier news, DTCC data showed that the spot Ethereum ETF "FRANKLIN ETHEREUM TR ETHEREUM ETF" (code EZET) applied by Franklin Templeton has been listed on the DTCC (Depository Trust & Clearing Corporation) website, and the Create/Redeem column shows Y.
HKVAEX trading platform will be permanently closed, users must withdraw assets before April 30
According to Mars Finance, the official website of the cryptocurrency exchange HKVAEX reminds users that its trading platform will be permanently closed, and recommends that all users withdraw their assets before April 30. Earlier news, HKVAEX recently announced that it will suspend services in stages starting from April 1, 2024, and its official website will be completely closed on May 1, 2024.
Mars Finance reported that according to Certik’s monitoring, it discovered an unverified Ember Sword NFT auction contract vulnerability, which has profited 60 WETH (about $195,000) from 159 victims who approved the contract. Earlier, according to BlockSec Phalcon’s monitoring, there were suspicious transactions in unknown contracts on the BSC chain and Ember Sword project contracts on the Polygon chain, resulting in a total loss of $240,000. Users are requested to immediately revoke the authorization for the contract address starting with 0x389 on the BSC chain and the contract address starting with 0x6f7 on the Polygon chain.
Ethereum on-chain DEX transaction volume yesterday was $1.584 billion
According to Mars Finance, DeFiLlama data shows that the transaction volume of DEX on the Ethereum chain was US$1.584 billion on April 27, ranking first. In addition, the transaction volume of DEX on the Solana chain was US$803.31 million yesterday, ranking second; the transaction volume of DEX on the BSC chain was US$667.26 million yesterday, ranking third.
MerlinStarter will launch a modular Launchpad service, with the first project being BridgeM
According to Mars Finance, MerlinStarter announced on the X platform that it will launch its Modular Launchpad service. The decentralized interoperability protocol BridgeM will be the first partner to use this one-stop service and will launch its BDGM token on April 29. The features of the MerlinStarter Modular Launchpad service include code-free deployment; comprehensive Launchpad solutions; full chain compatibility, supporting EVM and non-EVM chains, including BTC and ETH Layer 2; diversified fundraising options, including public offerings, private placements, oversubscriptions, first-come-first-served, etc.; safe and reliable, with code audits by well-known institutions; highly modular, allowing customized combinations.
Mars Finance News, KPMG China Hong Kong Risk Advisory Director Jansberg said that compared with other regions, virtual asset spot ETFs issued in Hong Kong, China have many advantages, including the protection provided by the Securities and Futures Commission for investors, and more diversified subscription and redemption methods. For investors, physical redemption and subscription options are particularly attractive. Institutional investors who custody virtual assets themselves can consider holding the relevant assets through ETFs without converting them into legal currency in advance. He believes that Hong Kong is now ready to welcome spot Bitcoin and Ethereum ETFs. Hong Kong has very strict requirements for issuing such ETFs, including detailed review of the internal management and business capabilities of the applicant issuer to ensure that it complies with relevant regulations and provides sufficient protection for investors. Under the active promotion of the government, Hong Kong's regulatory environment has been continuously improved, providing a more stable investment environment for global virtual asset investors. The continued development of the virtual asset industry will help Hong Kong attract a new round of investors and institutions seeking emerging investment opportunities. (Economic News Agency)
According to Mars Finance, according to Lookonchain monitoring, two wallets whitelisted by Brett deployers earned 890.6 ETH (about 3.14 million USD) at a cost of only 0.034 ETH (about 102 USD), with a profit of 30,830 times. Wallets "0x1f72" and "0x8996" spent 0.034 ETH (about 102 USD) to buy 172.56 million BRETT; then sold 122.74 million BRETT (about 3.14 million USD) on the chain at a price of 890.65 ETH through multiple wallets. Yesterday, user @shady_oak1 posted on the X platform that the Base Ecosystem Meme Coin project BRETT was not actually issued fairly, and insiders held more than 81% of the token supply before most people could buy it. @InvestWithRex et al. made nearly 1,600 ETH in profit from tokens purchased for marketing purposes during the whitelisting phase.
According to Bloomberg, crypto-friendly U.S. Congressman French Hill said he would vote for the stablecoin legislation if it was combined with the marijuana banking bill. Hill said: "I have supported the SAFE Banking Act in Congress for nine years, which would allow marijuana dealers to gain access to the banking system in states where marijuana is legal. I think it would be easier to catch bad guys and illegal activities if these companies were involved in the banking system." He also mentioned that work on the bipartisan payment stablecoin bill is about to be completed.
According to Mars Finance, FTX creditor Sunil Kavuri posted on the X platform that the law firm Sullivan & Cromwell (S&C) may propose an FTX plan that includes the following terms: exempting it from any crime; holding John Ray responsible, without accountability. He said that John Ray was not a victim, but he sent a victim impact statement to SBF that was full of misinformation and even lies. Not only did FTX not help with recovery, but it deliberately destroyed the (asset) value of creditors, and FTX creditors suffered losses of more than $10 billion. When the new CEO took over FTX, the platform had 105 bitcoins, but did not mention about 55 million Solana (SOL). Because SBF transferred funds, FTX's cryptocurrency was not on the FTX platform, and the Alameda backdoor caused this situation, which is why creditors cannot get their cryptocurrencies back. He said he would be 100% opposed to any plan, and so should FTX creditors.
NFT lending protocol Arcade V4 will launch partial repayment function
According to Mars Finance, the NFT lending protocol Arcade recently published an article on the X platform stating that the V4 version will be released soon, which will launch a partial repayment function, allowing borrowers to repay the loan principal at any time, effectively reducing interest and improving capital efficiency for users; as well as an enhanced offer bidding function. The V4 version will introduce an improved experience for wallet signatures at the protocol level, and lenders will be able to use a single signature for multiple bids.
Mars Finance News, Snapshot page shows that the Stargate V2 proposal passed the Stargate community vote with 95.57% support. According to the proposal, Stargate V2 will introduce transaction batching and dynamic credit allocation (managed by the AI planning module) to improve cross-chain efficiency and reduce cross-chain costs. In addition, Hydra was introduced as an extension of Stargate in the field of Bridging as a Service, which allows new chains to access unlimited liquidity on all Stargate chains. After obtaining DAO approval, the Stargate V2 protocol will be launched according to the following execution plan: - The incentives on the Stargate V1 pool should be gradually reduced, eventually falling to 0 after X time period; these pools must remain active for X months to ensure that applications built on Stargate can complete the migration to V2 before closing the channel. - The Stargate V2 protocol should be deployed on all chains approved by the DAO, with relevant assets attached. A list of these chains can be found in Appendix 2; this list has two notable changes compared to V1: a. All chains that have recently deployed a native USDC token (e.g. Arbitrum, Optimism, Polygon, Base) will support this native token instead of the bridged USDC.e token. b. Klaytn will be the first supported Hydra chain, and future Hydra chains will be deployed in coordination with the Stargate Foundation. - Stargate should open the V2 liquidity pool for deposits within 48 hours before the scheduled launch date/time, and increase incentives before launch. - The first version of the AI planning module has been built, and as V2 goes live, the AI module will be trained on Stargate's rolling data from the previous period to optimize the following two aspects: a. Stargate should always be the cheapest bridge tool, and b. Stargate should maximize its protocol revenue. - Additional fees on Stargate V2 will continue to be attributed to the protocol/DAO as POL. - Stargate should deploy its own DVN managed by the Foundation and use it as a required signer for every Stargate message; Stargate should also use the Nethermind DVN for additional security verification.
2. Selected Articles
Galaxy Digital: Crypto Week Review
This week, the Bitcoin developer team appointed five new BIP editors, accelerating the pace of Bitcoin protocol upgrades. The IRS released a draft 1099-DA form requiring digital asset brokers to collect customer information and report trading proceeds, sparking concerns in the crypto industry. In addition, the founder of Bitcoin mixing service Samourai was accused of money laundering and unauthorized fund transfers. Other news include Stripe's launch of USDC payment function, the increase in Bitcoin mining difficulty, and the EU's passage of anti-money laundering bills. These legal developments may affect the broader crypto industry.
Podcast: Is Ethena USDe the next UST? Where are the opportunities and risks?
This article analyzes the risks and benefits of the cryptocurrency project Ethena and its stablecoin USDe. USDe has funding, liquidation, custody, exchange failure and collateral risks, but it is still possible to participate. Ethena is the native stablecoin of Crypto Native, which has the potential to make money, but there are transparency issues. It is recommended to use USDe to mine ENA instead of buying it directly. ENA's valuation may be unreasonably high, but it can be obtained at a low cost through on-chain operations. It is recommended to buy USDe and convert it into PT to lock in profits. When participating in Ethena, it is important to note that action is more important than analysis.
Witness history: HKEX confirms the launch of spot virtual asset ETF on April 30
The Hong Kong Stock Exchange will launch Asia's first batch of virtual asset spot ETFs. Investors can apply for ETFs through brokers and receive them T+2 days later. When redeeming, they can choose to sell them in the primary/secondary market. This world-first physical subscription and redemption mechanism allows investors to directly hold virtual assets, avoid derivative risks, and improve ETF liquidity. The launch of virtual asset spot ETFs is expected to increase market liquidity, provide diversified investment options, enhance international recognition, and may attract more attention from regulators to the virtual asset market. Investors should understand the product features, operations and risks in detail, and carefully consider their own risk tolerance.
The road to digital transformation of infrastructure: a panoramic analysis of the DePIN track
DePIN uses blockchain and token economics to redefine infrastructure construction and operations and improve resource efficiency. 2024 is considered a big year for DePIN, with great development potential. DePIN optimizes resource allocation through decentralized management and smart contracts, and improves transparency and security. DePIN technology will be applied to more industries to improve the operating efficiency and cost-effectiveness of infrastructure. In the future, DePIN will develop more consumer-oriented applications, help traditional industries achieve digital transformation, and promote global infrastructure modernization and digital transformation.
After Bitcoin halving, the crypto market has entered a new round of key nodes. The Web3 game track may become a new bonus, and blockchain game guilds and related platforms are the best observation objects. Merit Circle and GuildFi are two companies that have transformed into game platforms and infrastructures. They compete with YGG, but with different routes. Zentry is a new game platform with rich experience in publishing platforms. It aims to connect the independent systems between all games and target 3 billion game players. Zentry's upgrade brings brand upgrades and token splits, which is expected to arouse market revaluation and bring the next wave of tens of millions of users to Web3, while also bringing platform development dividends and track ecological prosperity dividends to users.
With frequent regulatory developments, Ethena has become a new stablecoin
Market view of the week: US economic growth is higher than expected, and the Federal Reserve is expected to cut interest rates in September. The main line of the market revolves around the Meme sector, and BNB and RENZO are expected to rise. The fourth BTC halving has occurred, the market value of stablecoins has increased, and investor interest has weakened. The futures market sentiment is greedy, and the spot market has experienced the test of war risks. The floor price of blue-chip projects in the NFT market has risen, and trading volume has declined. Puffverse has completed financing and will launch a casual party game centered on Puff IP. Ola launched the mobile verification module Massive, and Xterio cooperated with BNBCHAIN to launch an immersive gaming experience with artificial intelligence and Web3. Foresight Ventures provides developers with technical solutions to help players enter a complete gaming ecosystem.
CKB: A new chapter in Bitcoin programmability
During the Bitcoin halving cycle, the explosive adoption of the Ordinals protocol made the crypto industry realize the importance of Bitcoin L1 layer issuance and transaction assets to the consensus security and ecological development of the Bitcoin mainnet. The Bitcoin mainnet improves programmability through Segwit and Taproot protocols, but is still constrained by consensus characteristics. The RGB++ protocol realizes cross-chain assets between the Bitcoin mainnet and the CKB mainnet, providing Turing-complete programmability. UTXO isomorphic Bitcoin L2 is a new solution in the Bitcoin ecosystem and has advantages over Ethereum L2. As a Bitcoin programmability solution, CKB successfully attracted new users and developers through the first batch of RGB++ asset issuance. In the future, CKB will focus on ecological application construction and realizing the free flow of BTC between L1<>L2.
ParticleNetwork launched BTC Connect, integrating multi-chain abstraction technologies such as modular L1 public chain architecture based on Cosmos SDK, Keystore contract management of cross-chain accounts, UserOps built on the intent layer, etc. In the future, Particle will also issue ecological tokens $PARTI to unify Gas consumption on different chains and provide a dual-staking security model mechanism. The Intent Solver processing center and the Relayer provide smooth full-chain interaction and a unified liquidity experience. Particle is a modular layer1 public chain dedicated to solving complex problems of chain abstraction, aiming to achieve a seamless interactive use experience.
EigenLayer is a platform that decouples the consensus layer from the execution layer, reduces usage costs and improves execution efficiency, and attracts projects in the privacy computing track. It reuses Ethereum's PoS funds to provide cheap security and a more flexible business model for Web3 applications. However, the dilemma of the privacy computing track lies in the high cost of use. EigenLayer's cooperation with the ZK coprocessor can reduce the verification cost and form a demonstration effect for other privacy computing products. The privacy computing track is currently in the blue ocean stage, and it is expected that the AVS ecosystem will be the first to usher in an explosion.
Youbi Capital: Why did we invest in Meson Network?
Meson Network is a Web3 industry network with 210,000 nodes, 40,000 of which are provided by enterprises. It collects public data through the DePIN model to provide a diverse data set for AI training. As a data collection layer, IPCola provides convenient C-end services through APIs. Meson Network's business processes are no longer limited to DePIN, but are database infrastructure for AI. It has cooperated with many well-known blockchain projects, is recognized by top research institution Messari, and is predicted to enter the top ten of DePIN in the future. Meson Network's excellent infrastructure services meet the needs of blockchain infrastructure and decentralized storage, and have become the guardian of blockchain networks.
EVM+ is an advanced model designed to advance the development of the Ethereum virtual machine and promote the integration of cryptocurrencies with mainstream applications by integrating assets, protocols, and infrastructure. Artela is an EVM+-based network that allows developers to create local extensions in a modular way and improve the programmability of the blockchain. It uses EVM+ and Aspect extension modules to achieve a highly scalable blockchain, bringing more possibilities to DApp. Artela's innovative design maximizes the computing power of network nodes through parallel execution and elastic computing, opening the door to faster innovation and more possibilities. It also provides flexibility and multi-language support for extensions for specific applications.
With continued congestion, does Solana need Layer2 and Rollup?
DRiP founder Vibhu called on Solana to adopt L2 and Rollup to solve the problem of network congestion, which loses about $20,000 per week. Solana's advantages are enhanced liquidity, capital and trading volume, but its disadvantages are rising infrastructure costs, poor user experience and congestion. Solana application developers are also discussing the possibility of adopting Rollup. The Solana Foundation urged the project to take immediate action to enhance network performance, and the much-anticipated new transaction scheduler is scheduled to be released at the end of April. Solana's Rollup technology is helping to build a highly scalable system that provides users with a better trading experience. The Mainnet will be a consumer chain that can provide more composability and low latency through Appchain and Rollup.
Based on recent experience, let’s briefly talk about DePIN and io.net
DePIN and io net are popular projects recently, which can earn income by sharing idle hardware/computing power/skills. io net is a distributed GPU computing cloud that can provide computing power for large AI models. The entry threshold is low, and only a local computer is needed. It is recommended to watch video tutorials and solution documents. IO's TGE has been delayed, and there will be a new round of activities in May. MacBook users with idle graphics cards or M1/M2/M3 chips can participate. Ways to lower the threshold include designing hardware that is easy to access.
Monad Getting Started Guide: Quickly Understand Parallel EVM and Performance Improvement
Monad is a new EVM-compatible L1 that recently raised $225 million and uses a method of executing transactions in parallel to improve TPS. It can be seen as a warehouse with multiple truck platforms, but the dependencies between transactions need to be handled. NFTJoel minted and sent 0.1 ether to SidShlok to buy PEPE. Transactions were executed in parallel and pending results were submitted one by one. If the results conflict, they are re-executed. MonadDb improves the bottleneck of Ethereum memory access. Solana testnet has 50k TPS, and Monad internal testnet has achieved 10k TPS. Looking forward to Monad's performance in practical applications.
3. Project Interpretation
From liquidity staking to re-staking innovation, how does Persistence affect the Cosmos ecosystem?
Persistence is one of the first application chains in the Cosmos ecosystem to enable IBC, CosmWasm, and the liquidity staking module, with a high influence and staking rate. Through IBC, its inflow and outflow of value with the outside world continues to increase. pSTAKE provides an important product for the Cosmos ecosystem, using Interchain Accounts to implement ICA Liquid Staking, enhancing the efficiency and flexibility of staking and re-staking. The re-staking alliance shares the staking income, and the reward weight is determined by decentralized governance. Through an innovative re-staking solution, Persistence has established a cross-chain economic alliance, bringing higher security and liquidity to the Cosmos ecosystem.
