TL;DR

• API3 hinted that the OEV Network (a lending protocol) is in the final stages of launching.

• Investors withdrew $600 million from crypto products following the hawkish FOMC stance.

• South Korea will invest $14.5 million in blockchain technology to improve public and private sector services.

• GamerHash CEO @PatrykPusch announced new updates for the GamerHash AI app, set to release next week.

• Solana Labs introduces Bond, a new blockchain-based customer loyalty platform.

• Ethena announced a tokenomics update: Season 1 $ENA recipients must stake half their $ENA until June 23. Unvested $ENA will be redistributed.

• Ethereum led the crypto market in May, with $1 billion at stake.

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Alpha of the Day

API3 Teases OEV Network Launch

API3 is dropping hints like a Netflix teaser trailer, suggesting that the OEV Network, a lending protocol, is about to go live. Crypto nerds are buzzing, eagerly awaiting this new player in the lending space. If the hype is real, OEV could shake things up, offering innovative solutions for borrowing and lending. So, grab your popcorn and keep your eyes peeled—this could be the next big thing in decentralized finance (DeFi).

Drift Foundation’s Big News: Dip-1 and Staking Vaults

Drift Foundation has officially passed Dip-1, paving the way for a staking vault and fee discounts for $DRIFT stakers. This move is like a double-shot espresso for the Drift community, promising to energize participation and rewards. With the new staking vault, $DRIFT holders can now lock up their tokens and enjoy some sweet discounts. It's like a Costco membership but for crypto nerds.

Investors Pull $600 Million After FOMC's Hawkish Stance

In a move that felt like a collective crypto "meh," investors yanked $600 million from crypto products following the FOMC’s hawkish stance. Apparently, the Federal Reserve playing hardball made everyone else take their ball and go home. It's a classic case of "we're taking our toys and leaving," showing just how jittery the market can get when the Fed flexes its muscles.

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TON Blockchain’s TVL Hits Record High

The TON blockchain is on a roll, with its total value locked (TVL) doubling in just three weeks to hit a record high. It's like watching a reality show contestant skyrocket to fame overnight. This surge shows that TON is not just another blockchain wannabe but a serious contender in the DeFi arena. Keep an eye on TON; this one’s not going away anytime soon.

South Korea Bets Big on Blockchain with $14.5 Million Investment

South Korea is putting its money where its mouth is, investing a whopping $14.5 million in blockchain technology to enhance both public and private sector services. It’s like giving your tech stack a major upgrade, but on a national level. This investment underscores South Korea’s commitment to being at the forefront of the blockchain revolution. Expect some next-level innovations coming out of Seoul soon.

GamerHash AI App Updates: New Features Incoming

GamerHash CEO @PatrykPusch is about to drop some major updates for the GamerHash AI app, set to release next week. Gamers, prepare yourselves for a digital Christmas morning. These updates promise to take your gaming and earning experience to the next level, making you wonder how you ever lived without them. Stay tuned, because the hype train is about to leave the station.

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Solana Labs Introduces Bond: Loyalty on the Blockchain

Solana Labs is shaking things up with Bond, a new blockchain-based customer loyalty platform. Think of it as your favorite coffee shop punch card, but way cooler and digital. This platform aims to revolutionize how businesses reward their customers, making loyalty programs more engaging and transparent. It's Solana’s way of saying, "Thanks for sticking with us," but with a tech-savvy twist.

Ethena's Tokenomics Update: Stake or Break

Ethena is rolling out a tokenomics update that has Season 1 $ENA recipients staking half their $ENA until June 23. Unvested $ENA will be redistributed, making this a high-stakes game for holders. It's like a reality TV show where contestants must "stake" their claim to stay in the game. The clock is ticking, so make your move and see if you’ve got what it takes to be a crypto survivor.

Ethereum Dominates May with $1 Billion at Stake

Ethereum flexed its muscles in May, leading the crypto market with a cool $1 billion at stake. It’s like Ethereum walked into the party and everyone else just faded into the background. This dominance underscores Ethereum’s continued relevance and strength in the ever-evolving crypto landscape. If you thought Ethereum was taking a back seat, think again—this giant is here to stay.

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