The Lido team announced that liquid staking for MATIC is now available on Polygon.
Arca and Polychain Capital drafted a revised ANC new tokenomics proposal for Anchor Protocol which aims to:
-Split the yields paid out to Anchor Earn depositors into 85% in UST and 15% in ANC
-Implement a veANC token mechanism
-Enable borrowers to earn up to a 1.5x boost on ANC rebates
The Osmosis team has recommended that node operators utilize Osmosis client v7.0.2 for the upcoming Carbon upgrade.
The Mango team has announced that MNGO token locking has gone live. MNGO now can be locked for up to 5 years and can be used to increase voting weight in the DAO up to 2x.
The Tendermint team released the beta version of Tendermint v0.35.2. This release adds additional timing metrics to the consensus module and various bug fixes to the abci, cli, light, mempool, RPC, and statesync modules.
Notable Messari Governor Updates
The Merit Circle DAO approved a proposal that aims to deploy up to $10M of the $53M Merit Circle stablecoin balance into Anchor Protocol on the Terra blockchain.
The DODO DAO has submitted a proposal that aims to introduce new tokenomic and governance dynamics to the DODO ecosystem by introducing a new Membership Points (MP) framework in addition to vote delegation capabilities and multichain solutions. Preliminary discussions are ongoing.
The Keeper DAO approved a proposal that aims to stop maintenance and development of the Hiding Vaults and stop emitting ROOK rewards to Hiding Vault users immediately.
Redacted Cartel has submitted a proposal that aims to initiate a merge of the Redacted and Lobis communities in order to achieve a common goal of extending Olympus DAO influence on the DeFi ecosystem through the control of governance assets. Preliminary discussions are ongoing.
AMP Governance has submitted a proposal that aims to add an additional Amp subsidy to seed spending capacity for upcoming Flexa-enabled applications. Preliminary discussions are ongoing.
Sector Returns
The markets have seen a solid rebound across all sectors despite the ongoing conflict between Russia and Ukraine. On February 22nd bitcoin seemingly uncoupled from the S&P 500, hinting at the possibility that the Russia–Ukraine conflict has driven demand for the digital gold alternative and subsequently prompted an industry-wide rally. Five of the six sectors covered returned double-digit gains for the week. DeFi had an impressive turnaround after being the worst performer of last week, bringing in a return of 14%. However it still hasn’t completely erased last week’s losses. Gaming performed the least, returning 8.94% on the week.
Top Assets
Terra (LUNA) continues its massive run as it secured a 40% gain on the week. The Cosmos based IBC chain has been on an upwards trend for the past two weeks as the Cosmos ecosystem has seen positive crowd sentiment for the past weeks. The next best-performing asset of the sector was Polkadot (DOT) with a conservative 13.0% return compared to LUNA. The rest of the assets traded fairly close to each other, ending the week trading within a 7.9% range. Avalanche lagged behind the group with a 5.1% return.
DeFi Assets
DeFi had two clear outperformers this week, THORChain (RUNE) and Anchor Protocol (ANC). THORChain (RUNE) led the pack with a substantial 55.4% gain while its Cosmos- based companion, Anchor Protocol (ANC), brought in an equally impressive 39.3% gain. The catalyst behind RUNE’s rally could be tied to the cross-chain liquidity project’s upcoming mainnet launch and integration with Terra. Similar to the top assets sector, the rest of the assets traded in synchrony and ended the week trading within an 8.1% range. PancakeSwap took the last spot with a 4.7% return.
Smart Contract Platforms
Evidently, Cosmos- based projects have been outperforming, validating the anticipated Cosmos season driven by trending interest in interoperability. Terra (LUNA) led the smart contract platforms sector with a continued rally, finishing the week with a 40% return. Following closely was Cosmos (ATOM) itself, securing 36.8% for the week. The third asset with 30%+ gains was Near (NEAR) which brought in 32.9% driven by news surrounding its recently announced partnership with Multichain (previously named AnySwap). TRONTron (TRX) was the only top ten asset within the sector that ended in the red (-1.5%).
Currencies
Privacy coins were the best performers of the currencies sector this week. Zcash (ZEC) led the pack with a 26.3% return while its closest competitor Monero (XMR) took the second spot (16.9%). Bitcoin secured the third position on the list returning 11.1% on the week. The digital gold narrative seems to continue gaining traction as investors increasingly consider Bbitcoin as a safe haven asset.
Web3
All top ten Web3 assets ended the week in positive territory with Render (RNDR) as the top performer. The distributed rendering protocol asset went as high as having a 40% gain this week but gave half of it back and ended with a 20.4% return. Helium (HNT) secured the last position of the sector with a 2.1% return.
Gaming
The gaming sector assets showed low correlation in their trading as few followed an easily identifiable trend. By the first half of the week, half of the assets were in negative territory but were able to regain momentum, leaving only Aavegotchi (GHST) to end the week in the red (-0.8%). Ultra (UOS) brought in the highest return (19.6%) of the week.
