Author: Yeek.io

May 28, 2025The following post contains a recap of news, projects, and important updates from the Spartan Council and Core Contributors from last week.👉 TLDRSIP-415 Withdrawn: Proposal to Acquire DeriveProposal aimed to integrate Derive’s off-chain matching engine to accelerate Synthetix’s Mainnet derivatives offering.Valued Derive at ~$27M with a proposed 27 DRV <> 1 SNX exchange ratio, funded by minting 29.3M SNX.Withdrawn after feedback from stakeholders and the community.Why It Was WithdrawnCommunity consensus did not materialize.Stakeholders raised questions around valuation and deal structure.Governance alignment is core to Synthetix’s process — without it, the proposal could not move forward.SNX Staking Relaunched via 420 Pool…

RedStone, the oracle provider behind several real-world asset initiatives, has expanded to Solana, unlocking institutional-grade asset data for DeFi builders.  The integration brings tokenized funds like Apollo’s ACRED and BlackRock’s BUIDL onto Solana’s (SOL) high-speed network through a partnership with Securitize and Wormhole Queries. This move marks a shift from simple asset tokenization to full composability, enabling these RWAs to be used in lending protocols, vaults, and other DeFi applications.  The first application, Drift Institutional, is expected to integrate RedStone’s (RED) feeds, setting the stage for broader institutional access to Solana-native DeFi. “This is a foundational step in making RWAs…

Floki continues to trade in a bullish structure while holding firm against broader market weakness. With key confluences at support, the stage is set for a potential surge toward the channel high. Despite current market-wide corrections, Floki (Floki) has shown notable resilience. Price action remains bullish, as it continues to move within a rising trading channel that has held since March. This structure has consistently produced higher highs and higher lows, with price respecting the lower boundary of the channel on multiple occasions. Each retest has resulted in a bounce, reinforcing this zone as a critical support level. Currently, Floki…

Bitfinex analyst Jag Kooner believes that Bitcoin and Ethereum are driven by the macroeconomic environment, which is pushing them to new highs. Despite recent volatility, Bitcoin (BTC) and Ethereum (ETH) may be heading for another move higher. According to Jag Kooner, Head of Derivatives at Bitfinex, the current macroeconomic environment is favorable for digital assets. In particular, traders are looking at Federal Reserve guidance and consumer spending data, the Bitfinex analyst shared in a note with crypto.news on May 28. For one, the Fed is under pressure from the potential inflationary effects of tariffs. If the Fed is worried about…

Polygon Labs and crypto trading firm GSR have teamed up to launch Katana, a new DeFi-focused blockchain built to fix one of DeFi’s biggest problems: scattered liquidity. It’s already live in a private phase, with a public launch planned for late June 2025.Katana is the first chain on Agglayer to use the CDK OP Stack, ushering in a multistack era for Polygon’s zero-knowledge-powered interoperability layer. The chain has been developed with support from Conduit, which handles the rollup and sequencing infrastructure, and is a graduate of Polygon’s Agglayer Breakout Program, which helps launch high-impact projects.Most DeFi platforms have liquidity spread thin…

The TD Sequential buy signal emerges as DOGE consolidates near range support and long positions dominate. Liquidation risk remains elevated, with weak spot flows and falling open interest undermining bullish momentum. Dogecoin [DOGE] triggered a TD Sequential buy signal on the hourly chart, suggesting the potential for a short-term price rebound.  This development comes as DOGE hovered near $0.222—its key support inside the well-worn $0.21–$0.26 range. Historically, TD setups near range bottoms have foreshadowed reversals. However, while technical indicators show early recovery signals, broader market conditions and leveraged positions raise critical questions about the sustainability of any rally in the…

Quick take: The latest funding brings the total raised to $53 million, according to the announcement on Wednesday. Conduit aims to make cross-border payments faster, cheaper and more reliable for businesses worldwide. The platform also helps its clients exchange local currencies for stablecoins and vice versa. Conduit, a stablecoin payments platform, has raised $36 million in a Series A round co-led by Dragonfly and Altose Venture. The Fundraising also attracted participation from Sound Ventures, DCG, and Commerce Ventures. The fundraising brings the total raised to $53 million, according to the announcement on Wednesday. Conduit already supports 14 different fiat currencies…

Hackers targeted a wrapped staked Ethereum contract, stealing tokens worth around $12 million. Decentralized finance platform Cork Protocol reportedly suffered a major exploit. On Wednesday, May 28, security firm SlowMist highlighted a potential smart contract vulnerability involving 3,760 wrapped staked Ethereum (wstETH) tokens. We are investigating a potential exploit and are pausing all contracts. We will report back with more information as soon as possible.— Cork Protocol (@Corkprotocol) May 28, 2025 Following the report, Cork Protocol confirmed a “security incident,” affecting the wrapped staked Ethereum tokens and wrapped Ethereum tokens. As a result, the protocol paused its smart contract. According…

Miami, Florida, May 28th, 2025, Chainwire Today, Weed unveils its holistic wellness platform, a move aimed at reshaping the global conversation around well-being. Over the past five years, the team has directed more than $20 million toward intellectual-property acquisition and product development. The result is a convergence of advanced AI, decentralized Web3 design, and a brand with true cross-cultural resonance. Together, these elements open the door to a healthier, more participatory lifestyle economy. Mainstream AI tools rarely meaningfully address everyday health, a gap that Weed aims to close. By weaving technology with culture, the company recasts the word “weed” as…

Whale-linked PEPE deposit and two-sided liquidations reflect heightened volatility without clear directional bias. Positive Large Holder Netflow and investor wallet growth signal structural support, even as retail interest declines. A wallet linked to James Wynn deposited 240 billion Pepe [PEPE]—valued at $3.36 million—into Binance, raising concerns about potential sell-side pressure. However, the wallet still holds over 203 billion PEPE, worth $2.85 million.  At the same time, market-wide liquidations showed $132.89K in longs and $95.3K in shorts wiped out, reflecting intense two-way pressure. This dual liquidation trend suggests heightened uncertainty as neither bulls nor bears dominate.  Therefore, PEPE’s next directional move…