Odaily Planet Daily News DefiLlama data shows that the total locked value (TVL) of DeFi across the entire network has exceeded US$153 billion, a new high since May 2022. Ethereum still dominates the DeFi market, with a TVL share of 59.5%, of which the liquidity pledge agreement Lido and the lending platform Aave hold US$32 billion to US$34 billion in assets, respectively. The TVL on the Solana chain increased by 23% to US$12 billion within the month, with protocols such as Sanctum and Jupiter performing outstandingly. Avalanche and Sui achieved TVL growth of 33% and 39%, respectively, while the Bitcoin DeFi ecosystem only rose 9% to US$6.2 billion. (CoinDesk)

Odaily Planet Daily News: Grove, a credit protocol in the Sky ecosystem (formerly the MakerDAO ecosystem), announced on Monday that it will expand to the Avalanche blockchain network and plans to allocate up to US$250 million in funds to tokenized credit products. According to the announcement, Grove will invest in the Anemoy AAA CLO fund (JAAA) issued by Janus Henderson through the blockchain tokenization platform Centrifuge. As a top global asset management company with $373 billion in assets under management, Janus Henderson's move is one of the largest attempts by traditional financial institutions to enter the Avalanche Real World Asset (RWA) ecosystem. Centrifuge will also launch the Janus Henderson Anemoy Treasury Fund (JTRSY) backed by U.S. Treasuries. The protocol plans to replicate this model in the structured credit sector, providing crypto-native and traditional investors with programmable channels to enter the trillion-dollar market. (Coindesk)

According to SoSoValue data, all sectors of the crypto market have generally rebounded after a slight correction. The CeFi sector rose 4.33% in 24 hours. Within the sector, Binance Coin (BNB) rose 5.63%, breaking through $847 during the session, setting a record high. At the same time, OKB and Bitget token (BGB) rose 2.01% and 3.05% respectively. In addition, Ethereum (ETH) rose 2.13%, once approaching $3,900, setting a new high for the year. Bitcoin (BTC) rose 0.76% and is now reported at $119,000. It is worth noting that MAG 7.ssi rose 2.70%, MEME.ssi rose 1.83%, and DEFI.ssi rose 2.91%. Other sectors with outstanding performance include: Layer 1 sector rose 2.29%, Avalanche (AVAX) and Sui (SUI) rose 3.20% and 4.05% respectively; Layer 2 sector rose 2.06%, Mantle (MNT), Stacks (STX), Celestia (TIA) rose 3.18%, 4.19%, 4.42% respectively; DeFi sector rose 1.32%, Ethena (ENA), Jupiter (JUP), PancakeSwap (CAKE) rose 3.81%, 7.63%, 11.66% respectively. In other sectors, the RWA sector rose 1.25% in 24 hours, and within the sector, Keeta (KTA) rose 18.98%; the PayFi sector rose 1.13%, and within the sector, Bitcoin Cash (BCH) rose 4.45%; the Meme sector rose 0.03%, and Vine Coin (VINE) rose 101.95% in 24 hours due to factors such as Musk's hint that the Vine Coin application will soon return. The crypto sector index, which reflects the historical trends of the sector, shows that the ssiCeFi, ssiLayer 1, and ssiLayer 2 indices rose by 4.54%, 2.34%, and 2.22% respectively in the 24 hours.

Odaily News According to the latest data from defillama.com, the value of locked assets in major public chains has increased significantly in the past month. Among them, the value of locked assets in Ethereum increased by 33.8%, Tron increased by 31.9%, and Avalanche increased by 30.9%, showing the strong development momentum of the public chain ecosystem.

Odaily News According to official news, Circle has released the Circle Gateway testnet, which supports Avalanche, Base and Ethereum mainnets, providing users with the ability to access USDC across chains in seconds. The mainnet version will be launched soon and will continue to expand to more blockchains. The core highlights include: 1. <500ms cross-chain access: no cross-chain bridge required, no pre-set assets required, and quick call to unified USDC balance; 2. Efficient liquidity management: meet multi-chain liquidity needs through a single integration and reduce capital occupation; 3. Non-custodial design: Users have full control over USDC, funds can only be moved under signature authorization, and withdrawals do not require trusting a third party.

Odaily News Lynq, a real-time digital asset settlement network, has officially launched. The first transaction records customer digital assets on the Avalanche chain and performs peer-to-peer settlement on Lynq. (The Block)

Odaily News GMX published a report on the X platform to summarize the reasons and follow-up measures for the attack of about $40 million on the Arbitrum chain on July 9 on GMX V1. It pointed out that after analysis by the security team, the attack originated from the reentrancy vulnerability of the OrderBook contract. Hackers used this vulnerability to manipulate the average short price of BTC, thereby significantly raising the price of GLP and arbitrage. The official has suspended transactions related to the Avalanche chain, confirmed that the V2 version is not affected, and will take measures such as disabling GLP casting and redemption and setting up a compensation pool. GMX reminds V1 fork projects to promptly repair similar risks. Next step: Funding situation: There is about $3.6 million left in the GLP pool, which is reserved for open positions. The GLP fee for V1 on Arbitrum this week is about $500,000 (minus the 30% allocated to GMX stakers), which will be transferred to the DAO treasury for compensation. GLP minting and redemption on Arbitrum will be disabled (redemption disablement requires a 24-hour timelock). GLP minting on Avalanche is disabled, but the redemption function is retained. Enable V1 position closing on Arbitrum and Avalanche, and disable opening to prevent the vulnerability from recurring. Cancel V1 orders on Arbitrum and Avalanche. The remaining GLP funds on Arbitrum will be allocated to the compensation pool for use by affected GLP holders. GMX DAO will discuss further compensation measures. It is recommended that all GMX V1 forks take immediate action and enable trading and minting of GLP-like tokens only after repairs and audits.

Odaily News Minna no Bank, a digital bank under the Fukuoka Group in Japan, announced that it will cooperate with Fireblocks and local IT company TIS to conduct stablecoin-related experiments on the Solana blockchain to explore application scenarios for consumers and enterprises, focusing on the use of stablecoins in the transaction settlement of real assets (RWA) such as digital bonds and real estate. Previously, the bank had conducted a stablecoin trial with Tokyo Kiraboshi Financial Group and Shikoku Bank on Japan Open Chain, a local Ethereum-compatible chain in Japan. The expansion from the local chain to the public chain Solana shows the interest of Japanese institutions in public chains with greater global influence. TIS is also involved in a number of Japanese stablecoin projects including SMBC (Sumitomo Mitsui Banking Corporation); Fireblocks is also involved, and related projects plan to adopt the Avalanche chain.

Odaily News GMX posted on the TG channel that the GLP pool of GMX V1 on the Arbitrum platform suffered a vulnerability attack, and approximately $40 million worth of tokens have been transferred from the GLP pool to an unknown wallet. Security partners have participated in investigating the attack. Currently, the Arbitrum and Avalanche platforms have disabled trading of GMX V1 and the minting and redemption functions of GLP to prevent any further attacks, but the vulnerability does not affect GMX V2 or the GMX token itself.

Odaily News On July 8, according to SoSoValue data, the crypto market sectors generally experienced a correction after continuous rises. Among them, the SocialFi sector fell 4.02% in 24 hours. Within the sector, Toncoin (TON) fell 4.21%, and Chiliz (CHZ) fell 3.48%. In addition, Bitcoin (BTC) fell 1.40%, but once broke through $109,000 during the session and now fell back to $107,000. Ethereum (ETH) fell 1.69%, and pulled back to around $2,500. In other sectors, the PayFi sector fell 0.86% in 24 hours, with Monero (XMR) and Telcoin (TEL) falling 3.01% and 3.32% respectively; the CeFi sector fell 1.00%, of which Hyperliquid (HYPE) fell 5.07%; the Layer1 sector fell 1.66%, among which Sui (SUI) and Avalanche (AVAX) fell 3.04% and 3.52% respectively; the DeFi sector fell 2.07%, with Aave (AAVE) and Ondo Finance (ONDO) falling 3.05% and 3.20% respectively; the Layer2 sector fell 2.58%, with Celestia (TIA) falling 5.28%; the Meme sector fell 3.44%, with SPX6900 (SPX) and Fartcoin (FARTCOIN) falling 8.32% and 8.63% respectively. The crypto sector index, which reflects the historical trends of the sector, shows that the ssiSocialFi, ssiNFT, and ssiAI indices fell 4.18%, 4.07%, and 3.91% respectively in the 24 hours.