Revenue Share Labs

📰 Osmosis, a DEX on the Cosmos blockchain, has launched a bridge to the Bitcoin network. The bridge, called Nomic, was approved by the Osmosis DAO and went live recently. Users can deposit Bitcoin (BTC) on the Bitcoin network in exchange for a token called alloyed BTC (allBTC) on Osmosis. 🔷 The integration aims to provide a decentralized Bitcoin exchange experience with zero-fee transactions and decentralized custody through Nomic’s engine. Osmosis is targeting liquidity from Bitcoin, which represents a significant portion of the total crypto market (60% Bitcoin dominance recently noted). 💬 "I'm bullish on bitcoin dominance," Osmosis co-founder Sunny Agarwal said. "That's the biggest market and so we want to take a big chunk of it." 💡 Osmosis primarily serves assets that lack their own native DEX, holding about a 95% share of DEXs in the Cosmos ecosystem, and sees Bitcoin as a key asset moving forward.

⚡ Erick Zhang, former head of research at Binance, has launched a new ICO platform called BuidlPad. This comes amid renewed interest in ICOs, driven by pro-crypto sentiment from U.S. leadership and growing dissatisfaction among retail investors with current VC fundraising models. 📰 According to Zhang, BuidlPad will focus on transparency and fair distribution, drawing from lessons learned during over 20 previous ICO launches at Binance. The platform will employ a strict vetting process for projects and require users to complete KYC checks. 💡 BuidlPad's launch follows the introduction of Legion, another ICO platform, which aims for weekly sales. Notable figures in the crypto space, such as Jordan Fish (Cobie), are also launching platforms to support project funding. The collaborative involvement of both retail and VC investors is seen as beneficial for successful fundraising.

⬆️ On Friday, U.S.-based spot Ethereum ETFs experienced their highest single-day inflows since their launch in July, with nearly $333 million added. Key contributors were BlackRock's ETHA with over $250 million and Fidelity's FETH with about $79 million. Grayscale's ETH fund recorded a modest addition of $3.4 million. 🔷 Grayscale's ETHE fund now holds $5.37 billion, while BlackRock's ETHA has $2.10 billion and Fidelity's FETH has about $952.33 million. 🔷 Ethereum's price saw a nearly 40% increase over the past month, currently trading below $3,600. The total value held by Ethereum funds surpassed $11 billion, with Grayscale managing over half of that amount. 🔷 The $333 million inflow exceeded the previous record of $295.5 million set on November 10. 🔷 Ethereum reclaimed USDT dominance over Tron for the first time since 2022, amid a 62% increase in USDT supply this year. 💡 U.S.-based spot Bitcoin ETFs also recently reported record high inflows.

📰 The Movement blockchain project has introduced its native MOVE token, integral to its ecosystem. The Movement Foundation has announced the distribution of 10 billion tokens: 🔷 40% (4 billion tokens) allocated to ecosystem and community initiatives. 🔷 10% (1 billion tokens) reserved for the foundation. 🔷 17.5% (1.75 billion tokens) for early contributors. 🔷 22.5% (2.25 billion tokens) for early backers. 🔷 10% to be distributed through an upcoming airdrop for community members. 📅 A gradual vesting schedule of over 60 months will apply; no staking allowed initially for team members or investors. The token generation event will occur on Ethereum, launching MOVE as an ERC-20 token. After the mainnet launch, holders can bridge and stake MOVE for economic security and staking rewards. 💡 MOVE will be used for paying gas fees and enabling staking within the ecosystem. MOVE holders will participate in governance by proposing and voting on network initiatives. 🧬 In April, Movement Labs secured a $38 million Series A funding round led by Polychain Capital, with support from Binance Labs. Movement aims to expand the use of the Move programming language beyond Aptos and Sui Layer 1 blockchains. It is touted as the first blockchain developed using the Move language, claiming enhanced security and fast transaction finality via "postconfirmations." The network will be classified as a fast finality rollup or sidechain, not a Layer 2 chain.

🆕 Starknet Foundation is the first major layer-2 blockchain on Ethereum allowing users to earn money by staking its native token and validating transactions. The staking feature aims to decentralize the network and has been under development since July, following a formal proposal by StarkWare, the main developer firm. 💡 To stake directly, users need at least 20,000 STRK tokens (about $12,000 at the time of writing). Those with fewer tokens can delegate them to validators. Validators risk losing their staked tokens for malicious behavior or neglect. There is also a 21-day waiting period for users to withdraw staked tokens and rewards. 💬 “It took Ethereum three years to get this right. It’s also going to take us time, but Starknet will be the first major L2 to take these steps toward decentralization.” — Eli Ben-Sasson, the CEO and co-founder of StarkWare. Starknet's move to staking aligns with Ethereum's transition to a proof-of-stake consensus mechanism in 2022. 🗓️ The staking implementation is part of a multiphase plan, with the initial phase focusing on studying staking habits and potentially expanding validator responsibilities. https://lnkd.in/e_7dgm6w

🎨 NFTs recorded a weekly sales volume of approximately $158 million, following $181 million the week prior. For context, this volume remains significantly higher than the $93 million recorded from Nov. 4–10. 📈 November has already outperformed October in total volume, further solidifying the NFT market’s momentum. In October, NFTs generated $356 million in sales, marking an 18% increase from September. Despite market fluctuations, sustained interest in NFTs persists, with dynamic activity across leading blockchains. 💡 Ethereum led the weekly NFT sales with $49 million, followed by Bitcoin at $43 million. Solana secured third place with $23.9 million, while Polygon, Mythos Chain, Immutable, and BNB Chain combined for $35.8 million in sales.

🤖 Digital Currency Group (DCG) is launching a new subsidiary focused on artificial intelligence called Yuma. The subsidiary aims to support the development of the open-source Bittensor network, marking a convergence between AI and crypto. Yuma will provide capital and technical resources to startups and established businesses working on Bittensor. 💡 Bittensor is a decentralized protocol that allows users to contribute computational power for AI models, rewarding participants with TAO tokens. The network supports independent subnets that allocate computational power to specific subjects. DCG initially invested in Bittensor in 2021 and has supported other decentralized AI projects like Tensorplex, Natix, and Flock. 💬 “Just like the early days of Bitcoin, which fueled the development of a new form of transparent, borderless money, we’re moving from the digital ownership of assets to the decentralized ownership of intelligence,” DCG founder Barry Silbert said in a statement.

📰 The Ethena Foundation announced the approval of Wintermute's proposal by the risk committee to modify Ethena protocol revenue sharing. The proposal includes enabling a fee switch for the Ethena protocol, with plans to finalize activation parameters by November 30. 🔷 The proposal addresses a disconnect between the revenue generated by the Ethena protocol and the benefits received by sENA holders, ensuring future revenue will support the protocol's ecosystem. Allocation of Ethena protocol revenue for specific uses will be subject to governance decisions. 🔷 USDe is Ethena’s U.S. dollar-pegged stablecoin, while sENA is the governance token associated with staked Ethena. 💡 Wintermute requested transparency regarding historical revenue allocation to confirm it served the protocol’s interests and called for ongoing governance over future revenue. Wintermute is supported by several investors, including Binance Labs, Fidelity Investments, and Dragonfly.

🎈 Hard to go back to the day-to-day after all the excitement of Devcon. Huge thanks to the entire Ethereum community for the outstanding event 🙌 💬 “At the Ethereum Foundation, we have this goal of subtraction — the goal is not to grow us but to grow other things that can enable the success of the ecosystem.” — Vitalik Buterin, sharing insights during one of the final panels. 🎮 And to conclude the experience, we joined a thrilling MOBA tournament at a side event — the perfect way to wrap things up with some gaming fun!

🌟 Third day of Devcon! 🔥 Another round of inspiring sessions, featuring insights on AI and real-world Ethereum applications. 💬 “Open models will run the world. Let’s make them awesome and let’s use all this technology to do that.” — Emad Mostaque of Shelling AI