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GM, Tim here.

Heres what caught my DeFi-eye recently:

Youve heard of ETH, but what on earth is MegaETH?

Thats what many myself included thought when hearing the little-known project had just raised $20 million.

MegaETH is a new blockchain (yes, another one) that says its the first to operate in real-time.

This, it claims, means it can achieve 100,000 transactions per second with millisecond-level responsiveness.

It can take up to 13 seconds to get transactions processed on existing blockchains like Ethereum.

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Dragonfly Capital led MegaETHs seed round.

I dont know if MegaETH will live up to the hype. But a lot of well-respected industry figures certainly thought it was a good investment.

Angel investors include:

Some onlookers have compared MegaETH to Monad, another project promising speed and throughput improvements compared to the current generation of blockchains.

In April, Monad Labs raised $225 million in a round led by Paradigm.

Jump Crypto president Kanav Kariyas resignation was a good thing for Lidos LDO, apparently.

After Kariya announced his departure on June 24, LDO jumped some 7%.

The reason, onlookers said, is that under Kariya, Jump Crypto sold off more than five million LDO tokens in 2022 and 2023, depressing the assets price.

It is not clear whether Kariya was personally involved in Jumps sale of LDO. He didnt immediately respond to a request for comment.

Its a mix of a joke and somewhat true, Will Sheehan, founder of crypto data platform Parsec Finance, said.

Jump was selling Lido through 2022 and 2023, and sometimes in crypto a [crypto Twitter] joke becomes an actual negative narrative.

Hivemapper, a Solana-based mapping project, has big ambitions.

It wants to overtake Google Maps, and its using token incentives to do so.

Like many so-called DePIN projects, short for decentralised physical infrastructure network, Hivemapper issues a token, called HONEY.

Those who use a dashcam to contribute to the projects mapping service can earn HONEY.

Hivemapper CEO Ariel Seidman told DL News this incentive setup can produce street-level imagery 20 to 100 times fresher than Googles.

But theres a hitch.

Hivemapper is struggling to generate demand for its product and thus demand for HONEY.

The tokens price is down 85% from its December peak.

Solana memecoin launchpad Pump.fun crosses $50 million in cumulative revenue.

At its current pace, pump.fun is set to bring in over $252 million annually. (DefiLlama)

VOTE: GnosisDAO to finance new GnosisVC venture fund

VOTE: Lido takes next step in bringing stETH to Ethereum layer 2s

VOTE: Compound votes to launch USDT market on its v3 version

Ethereum co-founder Buterin pens a blog post on how to speed up transaction confirmation on Ethereum.

DeFi users are withdrawing Ether liquid restaking tokens from protocols at an unprecedented rate.

Got a tip about DeFi? Reach out at tim@dlnews.com.

The rest is here:

Vitalik Buterin just invested in this little-known blockchain project - DLNews