Web3 Project Updates and Developments

Gate News bot message, World Liberty Fi (@worldlibertyfi) team has deposited 16.71 million $WLFI tokens, valued at $1.74 million, into a centralized exchange. The team is expected to make additional deposits to centralized exchanges.

Visa, ANZ Bank, China Asset Management, and Fidelity International have completed a cross-border settlement solution based on Chainlink, utilizing the e-HKD program to achieve compliant and secure asset transfers, automated tokenized fund issuance, and real-time identity credential verification.

Digital asset investment firm Bitwise Asset Management announces a donation of $233,000 to support Bitcoin open-source developers. The funds come from profits of its spot Bitcoin exchange-traded fund and will be distributed to three non-profit organizations to promote Bitcoin project development.

Elon Musk's social platform X launched a limited external beta of X Money this week, offering high-yield deposits with a 6% annual return and a credit card cashback mechanism. Deposits are FDIC insured up to $250,000. Hollywood actor William Shatner participated in the testing and auctioned off spots, attracting widespread attention. X Money plans to integrate multiple functions such as payments, but cryptocurrency payments are not yet integrated.

SOL Strategies Inc. announced in the February monthly update that the validator network has grown to 33,568 individual wallets and disclosed multiple business metrics. Although the stock price rose 20.97% on that day, it has still declined a total of 75.81% over the past six months. The company is committed to establishing diversified revenue streams, including treasury staking, third-party staking, and liquidity staking services, demonstrating its determination to transform into a diversified infrastructure service provider.

RedStone launches price oracle services on the Stellar network to provide real-time price data for the DeFi ecosystem. This move is a necessary measure to strengthen market price reliability after Stellar experienced a security attack. Through a modular data architecture, RedStone enhances data redundancy, improving the flexibility and accuracy of price updates. Additionally, this initiative helps Stellar better meet the needs of lending, asset tokenization, and other financial applications, promoting the development of financial services.

Recent claims that "DTCC's $4 trillion in annual transactions will migrate to the XRP Ledger" are based on a misinterpretation. In fact, Ripple Prime is only authorized to operate as a broker and clearing agent in the U.S. securities market with Pershing, unrelated to XRPL settlement. The future applications of XRPL still need to be observed.

Decentralized stablecoin project Angle Protocol announces it will gradually shut down its euro stablecoin EURA and US dollar stablecoin USDA, with community voting unanimously in favor of the decision. EURA was once a market leader, but due to increased competition, its market cap has dropped to $4 million. Despite the ongoing market expansion, EURA has chosen to exit orderly and allows holders to exchange it for other stablecoins within one year.

United Stables announced that its US dollar stablecoin U has reached a supply of 1 billion tokens on the BNB Chain, less than three months after launch. The stablecoin is fully backed 1:1 with reserves, offering real-time on-chain reserve proofs and monthly audits, aiming to create a unified decentralized liquidity for individuals and institutions.

The native stablecoin of the Sui blockchain, Sui Dollar (USDsui), is now live. Issued by Bridge, it aims to channel reserve asset yields back into the Sui ecosystem. USDsui allocates part of its earnings for SUI token buybacks or investments in DeFi protocols, intending to promote liquidity and ecosystem growth. The Sui team hopes to change the traditional stablecoin yield distribution model through this initiative and strengthen the DeFi value cycle.

Odaily Planet Daily reports that BNB Chain announced on the X platform that starting today, the BNB Beacon Chain token recovery tool will be phased out in three stages. BNB Beacon Chain asset holders are advised to use the tool to migrate their tokens to BSC as soon as possible for faster processing.

SOL Strategies Inc. stock price rose over 20% after the February business update, with validator network and staking services continuing to expand and user engagement increasing. The launched STKESOL liquidity staking platform attracted over 1,000 holders, improving capital efficiency. The company's total managed SOL is approximately 3.87 million tokens, maintaining a stable staking network and growing yields. It is expected that with the influx of institutional funds, the business will continue to grow. The company's governance structure will be adjusted on March 31, with Michael Hubbard officially becoming the CEO.

The native token SKY of the DeFi protocol Sky increased by approximately 10% after the governance proposal was implemented. The proposal reduces the token issuance scale over the next 180 days, slows down the release of staking rewards, decreases potential dilution pressure, and enhances the stability of the token's value. Meanwhile, Sky continues to repurchase SKY tokens, reducing market circulation, strengthening supply and demand, and promoting the development of the USDS stablecoin lending market. This strategy reflects the industry's general trend toward optimizing token economic models.

Ethereum co-founder Vitalik Buterin proposed the "Sanctuary Technology," advocating that Ethereum should focus on protecting individuals from excessive surveillance and promote the mission of decentralization, opposing market-driven approaches to financial applications. He put forward three major technical proposals to enhance the neutrality of blockchain construction and support ethical boundaries for AI technology, opposing the abuse of power through technology.

Base Chain AI Project Venice founder Erik Voorhees stated that the platform employs a privacy-focused design, with user prompts and responses not being stored to ensure privacy protection. At the same time, the user base is not primarily from the crypto sector, and privacy protection is a key focus for future development. Relevant measures will be implemented soon.

Tether leads $50 million funding round for Eight Sleep, valuing the company at $1.5 billion, focusing on sleep health products. The two parties will collaborate on developing AI-driven health technology, with Eight Sleep planning to launch an AI agent to optimize sleep experiences and advance related FDA filings.

Gate Research Institute's report indicates that by 2026, the demand among crypto traders for macro risk tools denominated in stablecoins will increase. Gate has launched two trading pathways: providing traditional market trading access through Gate TradFi, and introducing USDT-settled macro perpetual contracts covering various macro assets to enhance the implementability of trading strategies.

Hyperdrive launches a new leverage markets protocol to end decentralized finance “death spirals.” By using redemption-based pricing instead of volatile market data, Hyperdrive brings institutional-grade structured credit to real-world assets and liquid staking tokens markets. Addressing the

Phantom Wallet announces the addition of ETF perpetual contract trading for Korea and Japan, allowing users to participate in long and short trading in the Japan-Korea markets with up to 20x leverage. Users can operate directly within the wallet without the need for external platforms. These ETFs are issued by BlackRock and track the main indices of Korea and Japan respectively.

Morgan Stanley updates its S-1 filing with the SEC, designating Coinbase Custody and BNY Mellon as its dual custodians for the Bitcoin ETF. This move marks an important step in Morgan Stanley's digital asset strategy, and if approved, will expand its ETF market participation. At the same time, Coinbase continues to maintain a dominant position in the U.S. spot Bitcoin ETF market.