You Can't Ignore Solana Anymore
Last Week In The Multi-Chain Ecosystem (28 Oct - 03 Nov '24)
Welcome to LI.FI’s Cross Chain Insider newsletter, a weekly curation of the major updates and announcements from the industry’s leading interop protocols and ecosystems.
This week in interop feels like a moment of consolidation. After weeks of headline-making product launches, this week was more about BD, marked by some notable wins for individual teams.
One trend worth watching: liquidity and developers are increasingly moving from Ethereum to Solana. October's bridging stats from Phantom and the expansions by GMX and time.fun to Solana highlight this trend.
Bridge Updates
1) Lido integrates Chainlink CCIP to enable direct ETH staking from L2s.
2) mETH Protocol has chosen LayerZero’s OFT standard for its CO 0.00%↑ OK token.
3) Flow Traders joins Wormhole network as a solver.
4) IBC v2, known as Eureka, is set to launch in 2025, expanding IBC to Solana, Ethereum, and other ecosystems.
5) Jumper kicks off Ambassador Program.
Multi-Chain Ecosystem Updates
1) Fault proofs are now live on Base Mainnet.
2) Phantom users bridge $60M from Ethereum to Solana in October (new monthly ATH).
3) Astria mainnet is live.
4) Coinbase introduces ‘Based Agent’ allowing users to set up custom AI agents on Base.
5) GMX is bringing their perp dex to Solana.
Intents & Chain Abstraction
1) Arcana wallet is now live on Chrome Store.
2) Bungee launches chain abstracted swaps (beta).
3) Zapper integrates LI.FI for swaps.
4) 1inch web app frontend compromised.
5) Cortex intelligent accounts: chain abstracted wallet powered by AI agents.
Interesting Reads
1) What is the Superchain + Why Superlane?
2) Has account abstraction failed?
4) Pod: Building IBC for Ethereum ft. Bo (Polymer)
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