On a day marked by major protocol upgrades, maintenance outages, and community-driven decisions, the altcoin world experienced a series of notable events on November 26. Here is a summary of the important developments…
There have been hot developments for many altcoin projects
Prisma Finance terminates PIP-009 offer
Prisma Finance, the LSD stablecoin protocol, announced the official acceptance of the PIP-009 offering on the X platform. This development comes as sfrxETH’s debt limit was increased from 33 million mkUSD to 50 million mkUSD.
https://twitter.com/PrismaFi/status/1728566106149753000
ORC-20-based Nirvana has completed its upgrade
ORC-20 Nirvana reached a milestone by completing mapping and upgrade at Bitcoin block height 818418. The upgrade involved a snapshot taken at block height 818418 and the creation and export of assets at block height 818419.
Upbit MINA suspends deposits and withdrawals
In an official announcement, Upbit informed users that altcoin deposit and withdrawal services have been temporarily suspended due to maintenance of the MINA wallet system. The interruption in deposit and withdrawal support will be followed by a step-by-step refund process after service restoration.
Aave community voted critically
Instant voting results reveal that the Aave community has voted to relaunch the Ethereum mainnet and Aave v3 CRV credit on Polygon. The proposal, launched by DeFi risk manager Gauntlet, outlines adjustments to supply limits, borrowing limits and debt limits on both Ethereum and Polygon in response to the Vyper vulnerability attack.
ImmutableX TVL surpasses $200 million on Ethereum Layer 2
According to L2BEAT data, Ethereum layer 2 expansion solution ImmutableX reached a total value locked (TVL) of over $200 million on November 26, marking a significant increase of 40.93% in a week.
Optimism DEX attracted attention with its weekly trading volume
Additionally, Optimism DEX witnessed an unprecedented increase of 1,800% on a monthly basis, crossing $12 billion in trading volume last week. This spike, attributed to a vulnerability attack on KyberSwap, underscores the interconnected nature of DeFi platforms and the importance of robust security measures.
Cosmos voted on an important proposal: Halving proposal!
On the other hand, the Cosmos Hub community voted to implement the “ATOM Production Reduction” proposal, which sets the maximum inflation rate at 10%. This decision, which has a support rate of 41.1, means a significant decrease in ATOM production and share interest rates on the Cosmos network.
Azuki DAO is now ‘Bean’
The Azuki DAO, which consists of approximately 72 members, proposed the recovery of 20,000 ETH from Azuki’s founder following criticism of the Elementals collection. The proposal was supported by 40% of those who voted. Recently, Azuki DAO withdrew its lawsuit against Zagabond. In addition, DAO is looking to rebrand itself as memecoin project “Bean”. It also plans to join the Layer 2 ecosystem Blast. The developers claim to have successfully raised $10 million from “investors” to build the project on Blast.
Looks like AzukiDAO wants the founders of @Azuki to use 20,000 of the ETH they raised on elementals to support the community with more rewards, etc. via snapshot vote.
So far the vote is exceedingly in the majority to go through with it.
Thoughts? pic.twitter.com/UTv7Fj3ykh
— Tytan.eth (@Tytaninc) July 2, 2023
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