Ecosystem Update June 24

Dear investors,

We're excited to present our June 2024 Ecosystem Update. This comprehensive document delves into the latest market trends, highlights key milestones in the Advanced Blockchain ecosystem, and showcases recent developments within our organization. Additionally, it offers an in-depth overview of our progress and the broader industry landscape.

Macro Industry View

The overall crypto market continues to show a strong support standing above the $2.3 trillion market cap, underscoring the continuation of the uptrend sentiment within the market. Bitcoin and Ethereum dominate this market, comprising 66.9% of the total, with Bitcoin at $1.25 trillion (49.9%) and Ethereum at $421 billion (17.0%).

According to the latest CoinGecko market research, Crypto assets, including Bitcoin and Ethereum, managed to outperform most of the Magnificent Seven stocks in terms of market cap over the past 5 years. 

The Magnificent Seven stocks refer to companies that dominate a particular market space, gaining momentum to continue growing and acquiring startups that may later pose a threat. These companies also tend to become more efficient in scaling their products, further entrenching their market positions. The Magnificent Seven includes Apple (AAPL), Microsoft (MSFT), Alphabet (GOOGL), Meta Platforms (META), Amazon.com (AMZN), Nvidia (NVDA), and Tesla (TSLA).

Furthermore, on June 28, 21Shares submitted an S-1 application to the U.S. Securities and Exchange Commission for a spot Solana ETF, named the 21Shares Core Solana ETF. This marks the second application for a spot SOL ETF, following VanEck’s filing on June 27. The price of SOL surged from $139 to $150 following the news of the VanEck filing.

The ETF will be listed on the Cboe BZX Exchange, with Coinbase acting as the custodian for the Solana holdings, which will be privately insured. The fund’s assets will be stored in segregated wallets on the Solana blockchain.

The US elections will play a vital role in the advancement of the adoption and final approval of pending ETFs, including the ones for Ethereum and Solana right now. Statements from Donald Trump on his support for digital assets and acceptance of cryptocurrencies donations underscores the shift in sentiment and political environment around digital assets, which could benefit the industry at large. 

The US elections will play a vital role in the advancement and final approval of pending ETFs, including those for Ethereum and Solana. Statements from Donald Trump supporting digital assets and accepting cryptocurrency donations highlight the potential shift in sentiment and the political environment around digital assets, which could benefit the industry at large…

Ecosystem Key Updates

Summary

• Peaq continues collaborates further with with Outlier Ventures and Borderless Capital on the DePIN Base Camp Accelerator and expand its ecosystem further with new partnerships
• Contango exceeds $500M mark in total volume traded and announces its oTANGO airdrop
• MYSO integrates with LayerZero to enable omnichain assets transfer and expand its token listing to Sei Chain and Coingecko. 
• Panoptic receives a grant from Arbitrium Foundation and concludes its smart contract audit by Code4rena
• TLX total trading volume exceeds $200M achieving remarkable growth since its launch in May 2024 
• Celestia continues its expansion with recent integration with Rari, LightLink and Vessel.

peaq

peaq team continues its collaboration with Outlier Ventures and Borderless Capital on the DePIN Base Camp accelerator program - a Web3 accelerator program for early-stage DePIN projects. The goal of the program is to support entrepreneurs, founders, and projects working on real-world Web3 use cases. Six teams have been selected to join the program, including AYDO, Kaiser Network, Roam Network, ROVR, TouchBrick and YOM. 

The ecosystem continues to grow, recent partnerships included:

• Nevermined, a decentralized payments protocol for AI agents, and Olas, a platform enabling anyone to own a share in an autonomous AI agents economy, are joining forces with peaq to unlock fully-functional Web3 AI agents for DePINs building on peaq.
• Particle Network joined the peaqosystem to bring its wallet abstract solution to peaq, enabling DePINs on peaq to easily onboard Web2 users through existing email, social accounts, etc. 
• Parasail is joining peaq to help new DePINs establish and grow their networks faster through an incentivized restaking mechanism, with the added security of refunds on service failure. 
• Combinder is joining peaq to build a DePIN for energy data and grid load management with the goal of creating the world’s biggest distributed virtual energy network.

Contango

Contango protocol reached a remarkable milestone, exceeding the $500M mark in total volume traded across all active chains, including Ethereum, Polygon, Arbitrum, among others. 

Furthermore, an airdrop announcement has been made for the oTANGO token for early adopters. This paves the way for the mainnet launch planned to take place in Q3 2024. Read the full post about the airdrop here. 

MYSO Finance

MYSO is now officially integrated with LayerZero, enabling omnichain transfer and bridging of the asset to other chains. 

MYSO token continues its expansion, being listed recently on Sei chain and Coingecko. 

Panoptic

Panoptic, along with other 12 projects, has been awarded a grant by the Arbitrum Foundation for their in the DeFi space. This grant will help Panoptic’s permissionless options, perps, and passive liquidity provisioning to Arbitrum, providing traders and LPs with efficient and versatile trading opportunities.

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Moreover, Code4rena has concluded its smart contract audit of Panoptic, outlining no high or medium severity issues. The full audit report can be accessed here. 

Celestia

Celestia continues its expansion announcing integrations with Rari, LightLink and Vessel.

The modular blockchain ecosystem has been rapidly evolving in 2024:

Mero / TLX

Since its launch on May 16, 2024, TLX has achieved remarkable growth, with total trading volume now exceeding $200M.

ABAG Update

Our team has been working diligently on finalizing the consolidated annual figures and audit for the entire group for the fiscal year 2023. We have successfully published the individual report for the parent company, Advanced Blockchain AG, and anticipate releasing the group report by July 30, 2024, at the latest.

Furthermore, we are thrilled to announce that our CEO, Simon Telian, has been officially appointed as a Special Advisor for a pilot project implemented by Japan’s Ministry of Economy, Trade and Industry. Simon will work closely on the project with leading experts in the industry, including directors from Blockchain Capital, the Global Blockchain Business Council, among other leading companies in the industry.

The project, known as the ‘Pilot Project for Building Digital Public Goods Using Web 3.0 & Blockchain’, jointly operated by the NRI (Nomura Research Institute) and the JISSUI Social Implementation Centre (JISSUI), aims to support pilot initiatives focused on digital public goods by developing blockchain use cases across various industries. This project will establish guidelines, data standards, and data-sharing platforms. Such initiative is expected to contribute notably to the realization of Society 5.0 and address industrial and social challenges in Japan.

Moreover, our team had the opportunity to attend the Crypto Valley Conference in Zug, Switzerland, with fellow partners, including Daniel Haudenschild, CEO of Synternet and Vice President of the Crypto Valley Association Board, Jérôme Bailly, as well as Eric Holst, among other industry leaders. Networking with these industry leaders and builders was invaluable. The panels on emerging crypto trends and market making were particularly enlightening, offering fruitful insights on recent market developments and the future of the industry at large.

Furthermore, our CEO, Simon Telian, attended Baader Bank's Open Door Day event. This event provided an excellent opportunity to connect with partners and network with asset managers, fund managers, family offices, banks, insurance companies, and brokers.

The presentations covered key topics like the evolving role of AI, blockchain, cryptocurrencies, and the current capital market environment. These discussions were especially interesting given the recent introduction of Bitcoin and Ethereum spot ETFs and the dynamic developments in the field. 

We look forward to welcoming you to our upcoming annual general meeting, where we will present our recent developments and provide a platform to address all your questions.

Thank you for being a part of our journey.

Best regards,

Advanced Blockchain Team

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