RaaS #478: Tokenized Gold On Aave!

Metamask Launches Stablecoin, Coinbase Adds USD1 To Roadmap, and Moar!

Prediction markets let users bet on future events by buying shares priced between $0–$1. If the event happens, the share pays out $1; if not, it pays $0. Prices reflect collective belief. You can sell early, and the resolution is done by oracles or platforms.

Aave has launched on Aptos, its first non-EVM deployment, written in Move, and has undergone multiple audits, a CTF, and a $500K bug bounty. The launch includes APT, sUSDe, USDT, and USDC markets, Chainlink oracles, and a gradual cap increase, with incentives to follow.

MetaMask is launching its stablecoin, mUSD, in partnership with Stripe-owned Bridge and M0. It will power on-ramps, swaps, bridging, and spending, soon usable via MetaMask Card at Mastercard merchants. Launching on Ethereum and Linea later this year.

Chainlink is evolving into a unified oracle platform powering the onchain economy, beyond just data feeds. Like TCP/IP and Java abstracted internet complexity, Chainlink now offers end-to-end services for data, cross-chain messaging, compliance, legacy integration, and decentralized compute.

A judge unfroze $57.6M in USDC linked to the LIBRA memecoin scandal after finding no evidence that Hayden Davis and Ben Chow would flee or acted fraudulently. While the case is ongoing, the court called the plaintiffs’ claims weak, marking a partial win for the embattled founders.

Optics.

Kanye West’s YZY token launched on Solana, spiked 881% in 10 minutes, and peaked at a $3B market cap before falling to $1.1B. But onchain sleuths flagged red flags: no USDC in the pool, insider wallets preloading buys, and a contract-controlled multisig now sitting on $131M liquidity and $5M in fees. 

Aave is adding support for Tether’s XAUT, letting users earn yield or borrow against tokenized gold. As RWAs mature, onchain exits now go beyond USD, enabling diversification into assets like gold, FX, and indexes without off-ramps.

Loop Crypto has raised a strategic round led by VanEck and Fabric Ventures, bringing total funding to $6M. Known for enabling stablecoin-based subscription payments, Loop has seen Q2 paid transaction volume grow 344% YoY with merchants like Helius, Kaito, and Privy already integrated.

18 months of memecoin mania taught one truth: they’re not random, they’re patterned. Some run on hype, others on influencers, fake seriousness, or just a dumb joke that clicks. The best plays? Simple, funny, and dead quiet, until the crowd shows up laughing.

Coinbase added Trump-backed USD1 to its roadmap, signaling a potential listing. With $2.4B in supply, $205M minted this week, USD1 has gained traction, backed by MGX and Binance. The move puts World Liberty’s politically charged stablecoin in line for broader adoption amid stablecoin market expansion.

Where do they go?

When the PNL dips, morale becomes the alpha. Yugi’s Polymarket streak continues, now with Ziya joining as Chief Sentiment Officer and a surprise appearance of a “tester”. One bets with logic, the other with vibes. Check out their trades in the stream.

Roman Storm’s conviction over Tornado Cash revives the crypto privacy vs. security debate. Legal experts say intent, not control, drove the ruling. With no dedicated crypto privacy law, general data laws like CCPA now shape how wallet data is treated across jurisdictions.

Since 2018, Powell’s Jackson Hole speeches have set the tone for Fed policy shifts, from hiking during growth to cutting in crises, to misjudging “transitory” inflation. In 2024, he pivoted again, signaling rate cuts amid labor risks. Markets now await Friday’s final Powell-era signal.

Public companies now hold 2% of all ETH, up from $70M in April to $10.9B today. BitMine leads with 1.5M+ ETH. BTC holdings also grew, from 3.07% to 3.93% of supply, showing corporate balance sheets are turning into crypto ETFs.

Top Gainers: HT, OKB, SVL, NOBODY, GIZA.

Money markets now hold $120B+ in deposits and $50B in loans. Aave dominates with $27B borrowed, more than 2x the next 7 combined. Morpho, SparkLend, and Kamino follow. New growth drivers include stablecoin looping (Pendle/PT) and syrupUSDC yield. ETH, SOL, and stables lead asset use.

Kraken now runs nearly all its Ethereum validators on DVT via SSV Network, becoming the first major exchange to fully decentralize its staking infrastructure. Validators are split across 4-node clusters, boosting fault tolerance, slashing protection, and client/geographic diversity.

With public companies stacking crypto this cycle and governments likely next, CoinGecko’s new Treasury page cuts through the noise, a live dashboard tracking who holds Bitcoin, in what size, and when they bought.

That’s all for today!