Weekly Recap Ending February 17

Notable Messari Intel Updates

1. Binance Smart Chain will be rebranding to BNB Chain. Binance Chain will be renamed to BNB Beacon Chain and will serve as the governance hub of BNB Chain, while Binance Smart Chain will become BNB Smart Chain, an EVM compatible consensus and execution layer.
2. The Flow team has released a brief post-mortem related to the recent mainnet network instability/unavailability issues which occurred intermittently over the past two days.
3. Yearn Finance has released information on a vulnerability disclosed by a security researcher on Jan. 30, 2022, impacting Yearn's SingleSidedBalancer strategy that has since been mitigated and did not result in the loss of funds.
4. Cosmos Developers released Gaia v6.0.2 on Feb. 17, 2022. This release contains non-state breaking changes since the Gaia v6.0.0 Cosmos Hub Vega launch that occurred at block heigh 8,695,000.
5. The Gravity Bridge team announced in their discord channel that another lane has been added to the bridge, bi-directional traffic between Ethereum and Cosmos is now enabled.

Notable Messari Governor Updates

1. The Balancer DAO has submitted a proposal that aims to terminate its contract with Gauntlet, which uses its Fee Optimization product to control Balancer protocol swap fees. Preliminary discussions are ongoing.
2. The Ribbon DAO has submitted a proposal that aims to implement Curve's vote-escrow system by introducing the veRBN token. veRBN will be distributed to users who willingly stake either their vault tokens or RBN tokens. RBN stakers can lock up their RBN from 1 week to 2 years and will benefit from boosting (up to 2.5x) and delegated boosting utility. Preliminary discussions are ongoing.
3. The Balancer DAO has submitted a proposal that aims to gauge community sentiments regarding a new initiative to redesign OHM token emissions and distribution as Internal Bonds. Internal Bonds are different from regular Bonds and Inverse Bonds. In regular Bonds, bonders provide tokens such as DAI or ETH to get OHM at a discounted price. In contrast, Inverse Bond allows bonders to provide OHM to redeem its treasury backing such as DAI or ETH at a discount. Preliminary discussions are ongoing.
4. The Redacted Cartel has submitted a proposal that aims to delegate $1.5 million of vote-locked CVX (vlCVX) from the Redacted Cartel treasury to The Union and use its services to earn passive bribe rewards in the form of auto-compounding cvxCRV. Preliminary discussions are ongoing.
5. The SpookySwap DAO succeeded in passing a proposal that aims to introduce a partnership between SpookySwap and Alpaca Finance that will make 181,000 ALPACA available as a reward for staking xBOO and a ALPACA-FTM farm.

We want to have the reader help guide us on how to evolve the Weekly Recap so that we can provide the most relevant information. This week we will not be showing sector performances but will be taking the opportunity to gather more data related to the survey we conducted last week.

From last week’s survey, readers responded they would like to see metrics on TVL, interoperability and NFTs. Having this information, we would now like to ask, what kind of metrics surrounding these three areas would you like to see on a weekly basis additional to the sector performances? Please answer this survey!