Decentralized Finance Industry Observations and Latest Developments

Uniswap Labs Launches Unichain, a Layer 2 Network Based on Optimism

Uniswap Labs announced the launch of a new Layer 2 network called Unichain, built on the Optimism OP Stack technology. The Unichain testnet is planned to go live on October 10, with the mainnet set to launch later this year.

Unichain has introduced a Trusted Execution Environment ( TEE) technology developed in collaboration with Flashbots. With TEE, block construction time can be reduced to 200-250 milliseconds, greatly surpassing the speed of the Ethereum mainnet and other Layer 2 networks.

Binance Launchpool Launches Scroll($SCR)

Scroll is an Ethereum Layer 2 zkRollup solution that enhances Ethereum's scalability using zero-knowledge proof technology. The core technological breakthroughs of Scroll lie in zkEVM and hardware acceleration.

The functions of the Scroll token $SCR include:

1. Governance: Holders can vote on the development of the Scroll protocol.
2. Future Use: Tokens for decentralized validators and sorters, innovation coordination and staking in a multi-chain world.

Issue data:

• Total Supply: 1 billion SCR
• Initial circulating supply at launch: 190 million SCR(19%)
• Airdrop Allocation: 15% of Total Supply

Native USDC Officially Launched on Sui

The native USDC has now been launched on the Sui mainnet, allowing developers and users to access it directly without the need for cross-chain bridging. Circle Mint and Circle API fully support USDC on Sui, facilitating users to obtain USDC liquidity.

Sui is the first blockchain based on the Move programming language, supporting native USDC. Currently, the Sui ecosystem includes over 85 applications, covering fields such as Decentralized Finance, gaming, and more.

The main difference between native USDC and cross-chain USDC:

• Native USDC: Issued by Circle, can be exchanged 1:1 for US dollars.
• Bridged USDC(wUSDC): Bridged from Ethereum via Wormhole, not issued by Circle.

Sui Ecosystem Major Decentralized Finance Projects

The Sui ecosystem is currently strongest in the areas of Decentralized Finance and Meme-related projects. The main DeFi projects include:

Lending Agreement:

• Navi Protocol: Highest TVL, over $350 million
• Suilend Protocol: Developed by the Solend team
• Scallop Protocol: TVL exceeds 150 million US dollars

DEX:

• Cetus Protocol: The DEX with the highest trading volume and TVL
• Turbos Finance: Supports a large number of meme token trading
• DeepBook: Adopts an efficient shared object pool structure

Other Decentralized Finance projects:

• Bucket Protocol: Decentralized stablecoin project
• Bluefin: The top-ranked derivatives trading platform
• Typus Finance: Derivatives Infrastructure

Pyth partners with Uniswap

Uniswap announced that its newly developed blockchain Unichain will select Pyth Network as its real-time data service provider. Pyth will provide Unichain with over 500 real-time price data sources, updating every 400 milliseconds.

Aptos Sets New Record for L1 Blockchain Transaction Volume

Messari's Aptos Q2 report shows:

• Daily trading volume increased by 474%, reaching 4.4 million transactions.
• Decentralized Finance TVL increased by 123% quarter-over-quarter, reaching 75 million APT
• DEX daily trading volume increased by 189%, reaching 30 million USD

Binance Labs invests in ZKsync "Elastic Chain" Sophon

Binance Labs has invested in the ZKsync-based elastic chain Sophon. Sophon focuses on entertainment applications such as gaming, social, and AI, utilizing ZK Stack technology to achieve gas-free native account abstraction. The mainnet is expected to launch next month.