21.co

POL official migration will be on 4th Sep. The migration % is expected to increase from 0.1% to 51%+ Key takeaways include 1. MATIC on Polygon POS will be automatically converted to POL (14% of MATIC supply) 2. MATIC in staking contract on Ethereum will be automatically converted to POL (37% of MATIC supply) 3. Users will need to convert manually if your MATIC is on: - Ethereum (Non-Staking Contract) - Polygon zkEVM - CEXs (Case by case basis) No action is needed if your MATIC is on Polygon PoS or Staking contract on Ethereum.

$3B Tokenized US Treasuries by the end of 2024? We are seeing a trend of DeFi Project's DAO diversifying their treasury to RWAs, including stablecoins and Tokenized US Treasuries. With the maturity of tokenized US treasuries, over 15+ products on EVM Chains, and close to $2B AUM, DAO is starting to include yield-bearing products like BUIDL, USTB, USDY, and USDM in its treasury. We would definitely see this trend continue in the long run. Current Examples: - Arbitrum Allocating 35M ARB ($27M) - MakerDAO allocating $1B As the strategy laid out by @Securitize and Blackrock, they intend to provide diversification for the crypto ecosystem to access risk-free US treasury yield without needing to leave the blockchain ecosystem. With the two projects allocating to tokenized US treasury, we could be seeing the total market cap of tokenized US treasury increasing to $3B+ by the end of 2024

BUIDL has reached $500M Market Cap 🚀 @Securitize @OndoFinance owns 44% of the BUIDL supply

1/ Despite having 60%+ Staking Ratio, only 6% ($3.4B) of the Staked SOL comes from Liquid Staking Ethereum on the contrary, has 32% of its stake comes from Liquid Staking. The reason for the difference imo is because of whether there is in-protocol delegation. Solana has provided an easy way for SOL stakers to delegate their SOL natively whereas Lido is one of the only ways in the early days to delegate your ETH to earn staking rewards.

.@jito is following Lido's path to becoming the most dominant LST on Solana with a smart Growth Strategy jitoSOL currently owns 46% of the Liquid Staking Token Market Share. 1 Year ago, their dominance was at 13.7% (+32.3%) In my opinion, Lido's success can be attributed to 3 key factors: 1. Liquidity Liquidity should be the top priority for LSTs, especially for the pair with their native token. Deeper liquidity -> Attracts demand -> Increase Liquidity - Lido has been incentivising liquidity provision via their governance token, LDO, and has helped them significantly to build up a moat - Similarly, Jito has been incentivising with their own token, JTO. Currently, they have the highest incentives APY, TVL, and volume on Kamino Liquidity Vaults compared to other LSTs 2. DeFi Integration and Partnerships/BD Another important aspect for onboarding new users are token utilities. With more adoption, it will also be easier to pitch potential partners and institutions to use the LSTs - Lido has been integrated with top DeFi protocols. On the partnership side, they have been listed on Bybit, onboarded one of the largest DAO, BitDAO, and recently Blast, which has helped them tremendously to grow quickly - jitoSOL is also integrated with top protocols on Solana like marginfi, Solend, Kamino Finance, Drift. In the meantime, they also gained support from with top ecosystem partners such as @multicoin 3. Multi-Chain support - Lido has gained first mover advantage to expand to leading L2s like Optimism and Arbitrum. These L2s will be the up and rising playground for DeFi development. With their expansion, wstETH has become the dominant LST on L2s as well - jitoSOL also partnered with @wormhole to expand to Arbitrum. Even though the current demand is yet to pick up (Less than $1M jitoSOL has been bridged), i believe once jitoSOL is integrated more widely, the bridge volume will grow significantly. My prediction is the next integration or the most important one will be with @pendle_fi. Even though Solana's eceosystem is growing rapidly, we have to admit there are some interesting Blue Chip protocols on Ethereum are worth partnering with What makes Jito so powerful is not only with their strategy, but also their fundamentals are very strong. - Their airdrop is one of the most successful one in recent years - MEV Infrastructure - Stakenet

.@JupiterExchange's jupSOL is now a top 5 @solana LST Their TVL has grown ~8X since launch, growing from $10M to $90M in 2 weeks, and surpassed marginfi's LST Top LSTs: 1. @jito : $1.2B 2. @MarinadeFinance: $757M 3. @solblaze_org $303M 4. @sanctumso $178M (Basket of LSTs)

2nd largest DeFi Protocol on Ethereum with $15.8B TVL has announced the EIGEN Token Feel free to check out our dashboard below: dune.com/21co/eigen-layer