Osmosis Unveils Polaris: A Unified Solution to Simplify Cross-Chain Crypto Trading

Daily Top Performer — EigenLayer (EIGEN)

The SPX index was up by 1.07%, part of a broader tech-led rally driven by strong gains in semiconductor stocks like Nvidia and AMD. The rally followed the release of August inflation data, which showed easing headline inflation but higher-than-expected core inflation. This data spurred speculation that the Federal Reserve might opt for a smaller 25 basis point rate cut in its upcoming meeting. Coindesk Indices, an index measuring broader cryptocurrency market performance was up by 1.56%, with Bitcoin and Ether dropping by 0.56% and 1.27%, respectively in the past 24 hours.

Today's top performer is EIGEN, which surged 7.15% following the launch of LayerAI's decentralized GPU computing for on-demand AI power.

EigenLayer (EIGEN), founded in 2021, is an Ethereum-based protocol that enables ETH stakers to restake their ETH and Liquid Staking Tokens (LSTs) to enhance security for other protocols. This system allows stakers to earn additional rewards while providing protocols with access to Ethereum's secure validator network, reducing the need for costly incentive programs to establish their own validators. The Eigen Foundation will participate in TOKEN2049 in Singapore from September 16-20. They will cover topics such as restaking, decentralized AI, and modular blockchains. Key events include panels on DeFi, Web3 security, and decentralized AI, as well as networking opportunities with various industry leaders. The team will also host discussions and meetups throughout the event.

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Talk of the Town:

Polaris, introduced by Osmosis, is a groundbreaking solution designed to overcome the fragmentation in the crypto ecosystem known as the Great Chain Divide. It provides a unified interface for trading all tokens across various chains, eliminating the need for multiple wallets and complex bridges. Key features include one-click trades, portfolio tracking, seamless gas token acquisition, and integration with existing liquidity venues and bridges. By focusing on user experience and leveraging advanced technologies, Polaris simplifies cross-chain transactions and aims to unify DeFi under a single, user-centric platform. The portal will be unveiled at Solana Breakpoint 2024 on September 21st.

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Bitcoin Spot ETF Flows:

Yesterday, the total outflow for Bitcoin Spot ETFs was $43.9 million, with $4.6 million from GBTC and $39.3 million from non-GBTC sources.

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Airdrop to Watch:

Mitosis is launching its Ecosystem-Owned Liquidity (EOL) initiative and has begun an Initiation Vote for miweETH holders to choose their preferred protocol from five candidates. Voting is fee-free and requires only a sign-in. Participants will receive exclusive benefits for the Mitosis public testnet, with each vote contributing separately to testnet rewards. Cast your vote and get involved through this link.