This week, the spotlight shone on groundbreaking crypto initiatives that are pushing the boundaries of decentralized finance and blockchain adoption. From OKX Ventures investing in a decentralized stablecoin platform to Bitget Wallet’s token merger for a unified ecosystem, the industry is buzzing with innovation. Chainlink’s new feature reduces third-party dependency, Floki DAO’s ETP proposal increases accessibility, and THORWallet’s multi-currency MasterCard bridges DeFi and traditional finance. Let’s delve into these developments that are shaping the future of crypto.
OKX Ventures invests in decentralized Stablecoin platform USUAL
Most importantly, OKX Ventures, the investment arm of leading crypto exchange OKX, has announced its investment in USUAL, a decentralized stablecoin issuer. The move aims to bridge traditional finance and DeFi while promoting decentralization.
USUAL’s flagship stablecoin, USD0, is fully backed by tokenized real-world assets such as US Treasury bonds. USUAL’s native token, $USUAL, gives users management and ownership rights, promoting community-driven decision-making. OKX Ventures highlighted the platform’s potential to revolutionize stablecoin issuance and management through innovative blockchain integrations.
Bitget Wallet will merge $BGB and $BWB tokens for Unified Ecosystem
Second, Bitget Wallet, a leading Web3 wallet with over 60 million users, has announced a merger of its Bitget Token ($BGB) and Bitget Wallet Token ($BWB). The upgrade is scheduled for early 2025 and aims to create a unified ecosystem for Bitget Wallet and Bitget, increasing value and amenities for token holders.
Post-merger, $BGB will serve as the sole token for both platforms, with no changes to the offering. Users can expect benefits such as PoolX and Launchpool airdrops, VIP benefits and reduced trading fees. Additionally, $BGB will provide extensive onchain integrations and tools, unlocking new opportunities.
Chainlink launches smart value recovery to reduce dependence on third parties
The third news is in no way less important than the first two news. Chainlink has introduced Smart Value Recapture (SVR), a feature designed to reduce dependence on third parties and eliminate the need for intermediary smart contracts. Developed in collaboration with Flashbots, BGD Labs and Aave DAO contributors, SVR helps DeFi lending platforms recapture MEV from oracle-based liquidations. This will help improve efficiency and safety.
SVR-compatible price feeds use Flashbot’s MEV-Share and a “Dual Aggregator” contract architecture, providing greater fallback protection. Currently, SVR is in the testnet phase and will soon be launched on the Ethereum mainnet. Chainlink plans to further enhance SVR with improved gas efficiency and decentralization, furthering the long-term sustainability and growth of DeFi.
Floki DAO approves the launch of $FLOKI ETP to boost adoption
Floki DAO has approved a proposal to allocate more than 16.3 billion $FLOKI tokens from its community redemption wallet to provide liquidity for a $FLOKI exchange traded product (ETP). Scheduled to launch in the first quarter of 2025, this marks a major milestone for Floki and memecoins, following Dogecoin’s ETP debut.
The Floki ETP aims to bridge the gap between crypto and traditional finance, allowing investors to trade $FLOKI tokens on a regulated exchange. By improving accessibility and adoption, this move reflects Floki’s commitment to innovation and expanding its ecosystem.
THORWallet launches multi-currency Crypto MasterCard with a monthly limit of EUR 1 million
THORWallet, a non-custodial wallet specialized in cross-chain swaps and DeFi savings, has introduced a multi-currency MasterCard with a monthly limit of up to 1 million euros. The card, available in Ultimate, Premium and Standard tiers, supports payments in USD, RMB, CHF and EUR.
This initiative aims to simplify payments for global crypto users, especially those who make large transactions. By bridging DeFi and traditional finance, THORWallet improves accessibility and inclusivity in the financial sector.
Conclusion
This week’s advancements highlight the crypto industry’s relentless drive for innovation, accessibility, and inclusion. Initiatives such as OKX Ventures’ investment in USUAL, Bitget Wallet’s token merger, Chainlink’s SVR launch, Floki DAO’s ETP approval, and THORWallet’s multi-currency MasterCard illustrate how blockchain technology is bridging the gap between DeFi and traditional finance bridges. As these projects unfold, they will not only improve user experiences but also lay the foundation for broader adoption.
