Weekly recap (14 Aug – 21 Aug)
Key developments include new swap options, partnerships, and product launches enhancing the Web3 ecosystem.
Infrastructure and Protocol Developments
1️⃣ BOB Gateway Expands Swap Options
@build_on_bob has rolled out new swap capabilities, enabling $BTC ↔ $RLUSD transactions on Ethereum. RLUSD is @Ripple's NYDFS-licensed stablecoin. Additionally, $BTC ↔ $USD1 swaps are now available on both @Ethereum and @BNBCHAIN.
2️⃣ Lombard Finance Shifts Yield Strategy
@LombardFinance has transitioned $LBTC's yield source to an institutional covered-call options strategy, managed by Bitwise. This strategic shift aims to deliver a 2.5% net APY, moving away from emissions to options-based yield generation.
3️⃣ Rootstock Introduces rBTC
@RootstockLabs has launched rBTC, a representation of Bitcoin on the Rootstock network. This allows Bitcoin to be utilized for lending, borrowing, payments, liquidity provision, and smart contract execution.
4️⃣ MapProtocol Mainnet Goes Live
@MapProtocol's mainnet is now operational, facilitating open cross-chain swaps and enhancing interoperability across blockchain networks.
5️⃣ Starknet Bridges Security Update
@Starknet has temporarily disabled bridging due to a security issue. They are working on a new integration to restore service and introduce CREDI to facilitate private credit markets on the network.
Ecosystem Growth and Partnerships
1️⃣ FunctionBTC Partners with Bybit
@functionbtc has teamed up with Bybit On-Chain Earn to offer competitive BTC yields, leveraging $FBTC infrastructure to enhance user returns.
2️⃣ Riverdot Enables satUSD Payments in Brazil
@Riverdot has integrated satUSD for payments, allowing users to pay at any PIX QR in Brazil and settle in BRL through Yodlpay.
3️⃣ Citrea Partners with MoonPay
@citrea_xyz has integrated ctUSD with MoonPay, enabling users to participate in the Bitcoin economy with direct on-ramps available in the US and over 120 countries.
4️⃣ Babylon Labs and Emirates Partnership
@BabylonLabs has announced that Emirates, the world’s most profitable airline, is now accepting digital assets for flight bookings, marking a significant milestone in mainstream adoption.
Product Launches and Updates
1️⃣ Zest Protocol Launches Bitcoin Collateral Vaults
@ZestProtocol has introduced Bitcoin Collateral Vaults, allowing users to borrow USDCx against sBTC and earn rewards in BTC. This development brings native BTC collateralization to Bitcoin L1.
2️⃣ Hemi Launches VUSD Stablecoin
@HemiFinance has launched VUSD, a native stablecoin designed for a 24/7 onchain economy. The frxUSD/VUSD pool is now live on Curve, supporting liquidity deposits and swaps.
3️⃣ BounceBit Launches Borobudur
@BounceBit has unveiled Borobudur, offering access to 0% interest $BB credit. An upgrade for the BounceBit Chain is scheduled for August 23, 09:00 UTC.
4️⃣ TheTNetwork Introduces Verifiable Bitcoin Accounts
@TheTNetwork has launched Verifiable Bitcoin Accounts (VBA), enabling Bitcoin-backed lending desks to source working capital while maintaining auditable collateral on the Bitcoin Network.
Metrics and Achievements
1️⃣ Stacks Report on Bloomberg Terminals
@Stacks' TTF report is now available on Bloomberg Terminals as part of Blockworks' industry-standard disclosure framework. The ecosystem has reached a $6 billion trading volume milestone.
2️⃣ Midl Reports Strong BTC Inflows
@midl_xyz noted that US spot ETFs absorbed over 14,000 BTC in five days, marking the strongest weekly inflows since mid-April.
Stay strategic and focus on the projects delivering real utility and infrastructure. Keep tracking the evolving dynamics in BTC ecosystem protocols and partnerships. See you next week. 🫡
