This Week on web3 5min recap

Market information and major news from 12/14~20.

Good morning.
Mitsui from web3 researcher.

This is a summary article about the web3 market for the last week.We have gathered information from over 20 national and international media outlets and newsletters and have picked out news from them.Please use it to catch up on information and trends!

💥News Pickup
📊Market &News (L1, L2, DeFi, NFT, GameFi, AI, Other)

💥News Pickup

1,Avalanche major upgrade, Avalanche 9000, goes live on MainNet.

• Avalanche 9000" is the largest network upgrade in Avalanche's history

• Includes multiple updates, such as the "Etna" upgrade to make it easier to launch L1 blockchains, changes related to developer incentives, and enhanced multi-chain support

• With this upgrade, the concept and name of "subnets," a feature that allows users to build their own blockchains using the Avalanche chain, has been changed to "Layer 1 blockchains (L1s)".

• The "Avalanche 9000" will reduce the cost of setting up an L1 blockchain by 99.9%.They also reduced the minimum gas price of the C chain used to build dApps that can run smart contracts by 96%!

2,Ethena Labs Unveils USDtb, a Stable Coin Backed by BUIDL, a Tokenization Fund.

• Ethena Labs, developer of Ethena, launches USDtb, a stable coin backed by the BlackRock USD Institutional Digital Liquidity Fund (BUIDL).Launch

• USDtb, like USDC, USDT and other USD-pegged stablecoins, is backed 1:1 by cash or cash equivalents, according to the company.

• That it utilizes "BUIDL" for 90% of its reserve assets, the highest "BUIDL" ratio in the stablecoin market

• This product is offered under a partnership between Esena Labs and Securitize, which operates a digital asset issuance platform

3,Kraken's Layer 2 inc has accumulated 1 million transactions since inception.

• Kraken, one of the top 20 cryptocurrency exchanges by volume, launched Ethereum-based Layer 2 a week ago

• Ink mainnet records nearly 1 million transactions in nearly as many blocks, according to Ink Explorer

• Ink, built on Ethereum using the OP Stack, was announced on October 24, with a test net going live in November

https://inkonchain.com/dashboard

• Kraken said that by building a "seamless bridge to DeFi," it will "enable users to confidently and easily move on-chain, providing them with a complete solution and allowing them to move between the centralized and decentralized worlds of cryptocurrency"