Weekly Hot Project Updates: Injective Launches SharpLink Stocks, Kraken to Integrate INK Token, Sei TVL Hits All-Time High, etc. (0720–0726)

1. Injective on-chain SharpLink stock, launched the first Ethereum treasury tokenized asset link

Injective announced that SharpLink (SBET) shares will be brought on-chain, becoming the first “Digital Asset Treasury” (DAT) type tokenization product. Injective stated that the SBET DAT is developed based on its iAssets framework, featuring native programmability, an interface for on-chain governance access, and cross-protocol composability, which can be used in scenarios such as lending, collateralization, and derivatives design.

2. Kraken announced the integration of INK Token and its Ink Layer 2 network into the core product system link.

Kraken announced that it will integrate the INK Token and its Ink Layer 2 network into its core product system, making it available for global users and simultaneously incorporating it into the Kraken Drops airdrop reward program. The official statement indicates that this initiative aims to promote the integration of on-chain infrastructure with centralized platforms, expanding liquidity aggregation, on-chain lending, and trading scenarios. The Ink Network is part of the Optimism “Superchain” ecosystem, alongside Base, Uniswap L2, and Sony Chain, all of which belong to this scaling system.

3. Celestia repurchased over 43 million TIA held by Polychain, intending to transfer them to new investors and unlock them in batches.

Celestia Foundation announced that it has reached an agreement with Polychain Capital to purchase 43,451,616.09 TIA from the latter, with a transaction amount of 62.5 million USD. To complete this transaction, Polychain will release all of its staked TIA. The foundation will allocate these TIA to new investors and will adopt a phased unlocking method, with the unlocking period starting from August 16 and ending on November 14. According to previous disclosures, Polychain invested approximately 20 million USD in the Celestia project.

4. Ethena announces a partnership with Anchorage to transition USDtb from an offshore model to a federally regulated stablecoin link

Ethena announced that it will transition USDtb from an offshore model to a federally regulated payment stablecoin through a partnership with the federally chartered cryptocurrency bank Anchorage. Ethena claims that its USDtb is expected to become the first stablecoin with a clear path to fully comply with the U.S. “GENIUS Act”.

In addition, suspected BitMEX co-founder Arthur Hayes: 0x6c…7e21 accumulated 2.16 million ENA, worth about $1.033 million, between 2:18–8:39 UTC+8 through Galaxy Digital, Flowdesk, and Binance. Currently, this address holds a total of 7.764 million ENA, worth about $3.73 million.

With the sUSDe APY reaching 10%, the supply of the Ethereum stablecoin USDe has returned to 6 billion after the beginning of February. On July 17, the net issuance of USDe reached 267 million USD in a single day, marking the third highest single-day record in history, and in the following two days, the net issuance exceeded 160 million USD each day.

5. Zircuit announces the launch of the AI-driven trading engine “Hyperliquid for AI Trading” link

Zircuit announced the launch of the AI-driven real-time cross-chain trading engine “Hyperliquid for AI Trading”, supporting one-click execution and enterprise-level security, combining the platform’s original passive income features to form a product system that operates both active and passive strategies in parallel. This feature will be rolled out in phases starting July 2025, with public testing in August, and plans to launch an ecosystem incentive program in Q4. Currently, the total amount in the Zircuit platform’s staking vault has exceeded $950 million.

6. Azuki announced a partnership with OpenSea to release a series of NFTs “Azuki Mizuki Anime Shorts” link

Azuki announced that it is collaborating with OpenSea to issue the ERC-1155 collectibles “Azuki Mizuki Anime Shorts” based on the “Mizuki” animated short film, with related revenues being used to support short film production and creator creation. The first round of Mint will be open for 1 week, followed by a standard Mint that will last for 6 months, priced at 0.0014 ETH, with no wallet or whitelist restrictions. In the last cycle, Azuki raised over 20,000 Ether through the Elemental Beans series, but after the reveal, the works were criticized for lacking originality and resembling old pieces, leading to strong dissatisfaction within the community.

7. Sei TVL surged over 50% to 680 million USD, reaching a new all-time high link

In the past month, Sei’s TVL surged over 50% to $680 million, reaching an all-time high, with the largest native application Yei Finance’s TVL reaching $380 million, and the lending protocol Takara Lend ranking second with a TVL of $108 million. Additionally, Sei’s daily active address count and new user address count have both seen significant growth recently.

8. Kaito AI will launch Capital Launchpad link this week.

Kaito AI announced this week the launch of Capital Launchpad, which will provide a fundraising platform for community projects. Project parties can allocate based on social reputation and on-chain holdings, and after qualified users subscribe, the remaining quota can enter the FCFS stage. The platform fees will be returned to the community through the gKAITO mechanism. In addition, the officials stated that KYC is only for regulatory requirements and will be fully managed by Persona.

9. deBridge launches a reserve fund that will use all protocol revenue to buy back DBR Token link

deBridge Foundation has launched a reserve fund, planning to use all protocol revenue for the public market buyback of its native governance token DBR. Since its launch in June this year, the fund has repurchased 1.3% of the total supply of 10 billion tokens, worth approximately 3 million USD. The fund is now merged with deBridge’s total asset pool, with total holdings including DBR, USDC, SOL, and Ether, with a total market value of about 30.1 million USD. The fund is also implementing yield strategies, utilizing platforms such as Aave, Lido, and Kamino Finance to generate returns on idle assets, and has launched an on-chain real-time public dashboard to enhance transparency.

10. Consensys plans to lay off 49 employees, accounting for about 7% of the total workforce link

The software company Consensys, co-founded by Ethereum co-founder Joseph Rubin, is currently planning to lay off 49 employees, accounting for about 7% of the total workforce. A company spokesperson stated that this restructuring aims to enhance overall profitability. Previously, Consensys acquired a startup with about 30 employees, who will continue to stay with the company. Last year, Consensys laid off 162 employees, which accounted for 20% of the total workforce, attributing this to regulatory uncertainty and the overall macroeconomic situation.