Cronos officially integrated with Dune, making its onchain data fully queryable, visualizable, and verifiable.
Hyperliquid’s HIP-3 markets trading volume surged to match its native crypto perps volume.
Aave Labs (AAVE) launched Stable Vaults, an infrastructure enabling fintechs, digital wallets, and payment providers to embed fixed-rate stablecoin yields into consumer applications.
Ethena Labs (ENA) updated its USDe synthetic dollar protocol to allow whitelisted users to mint and redeem USDe using USDC at zero fees.
Maple Finance (SYRUP) released its Q2 Ecosystem Update, showing notable performance growth.
PayPal’s USD stablecoin (PYUSD) launched natively on the Polygon blockchain.
SBI Holdings partnered with the Solana Foundation to build a Japan-based onchain financial market.
Hyundai completed a proof-of-concept treasury settlement pilot, using Tether (USDT) to settle a payment between its U.S. and Mexican subsidiaries.
EthSystems, an Ethereum Foundation spinout, is targeting traditional banks with their new blockchain privacy tools.
Bonzo Lend, a Hedera-based lending protocol, suffered a US$9.05 million exploit, draining roughly 77% of its total value locked (TVL).
This week, the market cap and volume indices decreased -4.11% and -9.74%, respectively, while the volatility index surged +118.71%.
Maple Finance (SYRUP) released its Q2 Ecosystem Update, showing notable performance growth.
Aave (AAVE) Labs launched Stable Vaults, an infrastructure enabling fintechs, digital wallets, and payment providers to embed fixed-rate stablecoin yields into consumer applications. The product abstracts complex decentralized lending mechanics by converting Aave’s variable onchain rates into predictable, fixed yields for end-users, with partner operators retaining any excess yield generated.
Ethena Labs (ENA) updated its USDe synthetic dollar protocol to allow whitelisted, KYC/KYB-compliant users to mint and redeem USDe using USDC at zero fees. This eliminates previous conversion costs for approved participants, tightening USDe’s peg to the U.S. dollar and reducing slippage in secondary markets.
The permissionless, builder-deployed HIP-3 markets on decentralized perpetuals platform Hyperliquid, featuring real-world assets (RWAs) like stocks, commodities, and indices, are gaining significant momentum. On July 14, aggregated trading volume (7-day moving average) reached $3.0 billion, nearly matching the $3.1 billion volume of Hyperliquid’s native crypto perps.
Among HIP-3 markets, stocks were the dominant category, accounting for over 60% of the volume, followed by indices and commodities.
The Cronos network officially integrated with Dune, making its onchain data fully queryable, visualizable, and verifiable. This marks a significant step toward transparency for the ecosystem, which serves as a purpose-built settlement layer for stablecoins and tokenized assets.
EthSystems, an Ethereum Foundation spinout, is targeting traditional banks with their new blockchain privacy tools. The initiative aims to equip commercial banking institutions with privacy-preserving infrastructure, bridging the transparency of decentralized networks with the stringent confidentiality requirements of traditional banking.
PayPal’s USD stablecoin (PYUSD) launched natively on the Polygon blockchain. Issued directly by Paxos — the OCC-regulated entity behind PYUSD — this integration avoids bridging or wrapping, ensuring PYUSD on Polygon is a first-class asset within the network.
Japanese asset management firm SBI Holdings partnered with the Solana Foundation to build a Japan-based onchain financial market. The joint venture, SBI Solana Global, will leverage the high-speed Layer-1 network to issue yen-pegged stablecoins and tokenize RWAs.
South Korean conglomerate Hyundai completed a proof-of-concept treasury settlement pilot using Tether (USDT) on the Avalanche blockchain. The trial settled a $20,000 payment between its U.S. and Mexican subsidiaries in seven minutes.
Bonzo Lend, a Hedera-based lending protocol, suffered a $9.05 million, draining roughly 77% of its TVL. The attacker leveraged a verification flaw in a third-party Supra oracle contract to artificially inflate the price of minimal SAUCE token collateral by 12 orders of magnitude, allowing them to borrow millions in USDC and wrapped HBAR.
Tokenized Stocks: The Evolution of Equity: This report analyzes the evolution of tokenized stocks, demonstrates how blockchain technology interfaces with standard equities to resolve legacy operational challenges, and evaluates the structural benefits and risks of this asset class.
Market Update (June 2026): Driven by risk-on asset selling and a rotation to defensive sectors, global markets corrected in June. Digital assets plummeted and major equities stalled: Nasdaq fell 2.8% and S&P 500 dropped 1.1%, while Dow Jones gained 2.5%. Gold and Commodities fell sharply, while Bonds and Real Estate provided insulation.
Research Roundup Newsletter (Jul 2026): We present to you our latest issue of Research Roundup, featuring our analysis on tokenized stocks and June’s market review and outlook.
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Research and Insights Team
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