Blockchain Reporter Weekly Crypto News Review: Innovations and Integrations Drive the Ecosystem Forward

This week, the spotlight shined on groundbreaking crypto initiatives pushing the boundaries of decentralized finance and blockchain adoption. From OKX Ventures investing in a decentralized stablecoin platform to Bitget Wallet’s token merger for a unified ecosystem, the industry is brimming with innovation. Chainlink’s new feature reduces third-party reliance, Floki DAO’s ETP proposal boosts accessibility, and THORWallet’s multi-currency MasterCard bridges DeFi and traditional finance. Let’s delve into these developments shaping the future of crypto.

OKX Ventures Invests in Decentralized Stablecoin Platform USUAL

Most important first, OKX Ventures, the investment arm of leading crypto exchange OKX, has announced its investment in USUAL, which is a decentralized stablecoin issuer. The move aims to bridge traditional finance and DeFi while promoting decentralization.

USUAL’s flagship stablecoin, USD0, is fully collateralized by tokenized real-world assets like U.S. Treasury Bills. USUAL’s native token, $USUAL, empowers users with governance and ownership rights, fostering community-driven decision-making. OKX Ventures highlighted the platform’s potential to revolutionize stablecoin issuance and governance through innovative blockchain integrations.

Bitget Wallet to Merge $BGB and $BWB Tokens for Unified Ecosystem

Secondly, Bitget Wallet, a leading Web3 wallet with over 60 million users, has announced a merger of its Bitget Token ($BGB) and Bitget Wallet Token ($BWB). The upgrade is set for early 2025 and aims to create a unified ecosystem for Bitget Wallet and Bitget, enhancing value and utilities for token holders.

Post-merger, $BGB will serve as the single token for both platforms without changes to its supply. Users can expect benefits like PoolX and Launchpool airdrops, VIP perks, and discounted trading fees. Additionally, $BGB will offer expanded onchain integrations and utilities, unlocking new opportunities.

Chainlink Launches Smart Value Recapture to Reduce Third-Party Dependence

The third news is not less important than the first two news in any way. Chainlink has introduced Smart Value Recapture (SVR), a feature designed to reduce reliance on third parties and eliminate the need for intermediary smart contracts. Developed in collaboration with Flashbots, BGD Labs, and Aave DAO contributors, SVR helps DeFi lending platforms recapture MEV from oracle-based liquidations. This will help enhance efficiency and security.

SVR-enabled Price Feeds leverage Flashbots MEV-Share and a “Dual Aggregator” contract architecture, offering better fallback security. Currently in its testnet phase, SVR will soon launch on Ethereum mainnet. Chainlink plans to further enhance SVR with improved gas efficiency and decentralization, promoting the long-term sustainability and growth of DeFi.

Floki DAO Approves Launch of $FLOKI ETP to Boost Adoption

Floki DAO has approved a proposal to allocate over 16.3 billion $FLOKI tokens from its community buyback wallet to provide liquidity for a $FLOKI exchange-traded product (ETP). Scheduled for launch in Q1 2025, this marks a significant milestone for Floki and memecoins, following Dogecoin’s ETP debut.

The Floki ETP aims to bridge crypto and traditional finance, allowing investors to trade $FLOKI tokens on a regulated stock exchange. By enhancing accessibility and adoption, this move reflects Floki’s commitment to innovation and expanding its ecosystem.

THORWallet Launches Multi-Currency Crypto MasterCard with 1M EUR Monthly Limit

THORWallet, a non-custodial wallet specializing in cross-chain swaps and DeFi savings, has introduced a multi-currency MasterCard with a monthly limit of up to 1 million EUR. The card, available in Ultimate, Premium, and Standard tiers, supports payments in USD, RMB, CHF, and EUR.

This initiative aims to simplify payments for global crypto users, especially those making large transactions. By bridging DeFi and traditional finance, THORWallet enhances accessibility and inclusiveness in the financial sector.

Conclusion

This week’s advancements highlight the crypto industry’s relentless drive toward innovation, accessibility, and integration. Initiatives like OKX Ventures’ investment in USUAL, Bitget Wallet’s token merger, Chainlink’s SVR launch, Floki DAO’s ETP approval, and THORWallet’s multi-currency MasterCard exemplify how blockchain technology is bridging gaps between DeFi and traditional finance. As these projects unfold, they not only enhance user experiences but also lay the foundation for broader adoption.

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