Crypto platform Injective took the lead this week by launching the first Ethereum vault tokenized asset tied to SharpLink shares. This move introduces a new class of digital finance called Digital Asset Treasury. Built using its own iAssets framework, the crypto-native Injective designed this token to support lending, collateral, and derivatives on-chain.
Kraken followed with a major update by integrating the INK token and Ink Layer 2 network into its core system. The platform also added both to its airdrop program, aiming to bridge on-chain networks with centralized services. Ink Network is part of the Optimism Superchain and works alongside Base and other layer 2 scaling projects.
Celestia revealed a major transaction with Polychain Capital. The foundation agreed to buy over 43 million TIA tokens for $62.5 million. Polychain unlocked its staked tokens for this sale. Celestia plans to reallocate these tokens to new investors through phased unlocking, beginning in mid-August.
Crypto Stablecoin USDe hits 6B supply as yield soars
Ethena made a step towards U.S. regulatory compliance. Along with Anchorage, it will transform its USDt from a payment stablecoin with an offshore approach to a federally compliant payment stablecoin. It states this reorientation complies with the GENIUS Act. Meanwhile, an address related to BitMEX co-founder Arthur Hayes amassed more than $1 million in ENA, with a total of $3.7 million in holdings.
With increasing demand for yield, the APY of sUSDe climbed to 10%. This boosted the USDe supply back to 6 billion. In a single day, July 17, users minted $267 million in USDe, one of the largest single-day achievements of the stablecoin.
Zircuit launched Hyperliquid for AI Trading, an AI-based engine that facilitates cross-chain implementation and secure trading. Public testing will commence in August. Zircuit staking vaults currently host more than $950 million, reflecting increasing interest in its system.
Azuki joined hands with OpenSea to release “Azuki Mizuki Anime Shorts” as ERC-1155 collectibles. Proceeds will support new creative projects. The first mint lasts a week, with a six-month regular mint to follow. In the past, Azuki faced criticism for lacking originality in one of its series.
Kaito AI to launch community fundraising platform
Sei’s value locked jumped 50% this month to an all-time high $680 million. Yei Finance takes the top with $380 million locked. Takara Lend comes in second with $108 million. User activity climbed too, marking wider usage.
Kaito AI intends to introduce Capital Launchpad, a community-driven fundraising platform. Project teams will be distributing tokens by social and on-chain criteria. All fees paid to the platform will be returned to users through its gKAITO model.
deBridge established a reserve fund to purchase back DBR tokens with all the revenue generated in the protocol. So far, it has bought back 1.3% of the supply. Currently, the fund has $30 million worth of crypto assets and employs strategies to earn returns while making data transparent.
ConsenSys announced it will lay off 49 employees, about 7% of its staff, to boost profitability. The company had already absorbed a 30-person startup and previously laid off 162 staff members in 2024 due to economic pressure.
