Ripple and XRPL Labs Join Forces in Decentralized Recovery Alliance

Ripple and XRPL Labs join the Decentralized Recovery (DeRec) Alliance alongside notable members like Swirlds Labs and the Algorand Foundation. Arbitrum (ARB Coin) surpasses 2 million daily transactions, showcasing its user-friendly network performance. Binance Labs incubation project UXUY secures $7 million in funding, reflecting the platform's significance in the Bitcoin ecosystem. Mande Network launches an airdrop request channel for DYM stakers. Merlin Chain's top dApps reach over $1 billion in TVL, indicating the network's rapid growth and ecosystem development.

Ripple and XRPL Labs Join Decentralized Recovery Alliance

In a significant move towards enhancing digital asset security, Ripple and XRPL Labs have become members of the Decentralized Recovery (DeRec) Alliance. Joining the likes of Swirlds Labs (Hedera), the Algorand Foundation, Acoer, BankSocial, and numerous other organizations, Ripple's participation underscores the industry's growing focus on safeguarding crypto assets.

The DeRec Alliance, founded by Hedera co-founder Leemon Baird, aims to establish an open-source framework for accelerating the recovery of lost or compromised digital assets. Recognizing the increasing reliance on digital technologies and the need for robust security measures, Baird emphasizes the importance of providing a safety net for users lacking crypto expertise:

"In this digital age, users need a safety net when they lose their keys, passwords or other secrets. This is essential for both web2 and web3 and critical to bringing these technologies to the majority of the world. It’s great to see the industry working together to build the DeRec Alliance to address this need."

Arbitrum Achieves Significant Transaction Milestone

Arbitrum, a leading Ethereum layer-2 scaling solution, has reached an impressive milestone by surpassing 2 million daily transactions. According to data from analytics platform IntoTheBlock, Arbitrum's transaction volume has grown exponentially since March, consistently averaging over 1 million transactions per day.

This surge in transaction volume highlights Arbitrum's growing popularity and its user-friendly nature compared to competitors. The consistent growth in transactions since September 2023 demonstrates the platform's steady progress in gaining market share.

Uniswap Front-End Faces Challenges Post Fee Hike

Uniswap Labs' decision to increase the exchange fee on its user interface from 0.15% to 0.25% has had a noticeable impact on the platform's popularity. The fee adjustment, introduced in mid-April, applies to most swaps conducted through the Uniswap web interface and wallet.

While Uniswap remains a popular decentralized exchange, the fee hike seems to have led to a decline in the usage of its front-end. The Uniswap front-end's market share fell from 35.8% in March to 30% in April, as users sought alternative methods of making swaps.

UXUY Completes $7 Million Funding Round

UXUY, a next-generation multi-chain trading platform incubated by Binance Labs, has successfully closed a $7 million Pre-A financing round in Hong Kong. This brings the total funding raised by UXUY since its inception to over $10 million.

UXUY, founded by a prominent figure in the Bitcoin ecosystem, provides access to the Bitcoin Lightning Network for over 100,000 traders. The funding round will support UXUY's ongoing development and expansion plans.

Mande Network Initiates Airdrop Request Channel

Mande Network, an on-chain network built on Dymension and Celestia, has launched an airdrop request channel for users who stake at least 15 DYM. The snapshot was taken on April 30th, and users can claim their MAND airdrop by following the instructions provided.

Merlin Chain's Top dApps Exceed $1 Billion in TVL

Merlin Chain, a bitcoin second-tier network, has reported significant growth in its ecosystem dApps since releasing its pledge at the end of April. Over $3.8 billion of liquidity has flowed into Merlin Chain's dApps, covering various sectors such as DeFi, infrastructure, games, and more.

According to DefiLlama data, the total value locked (TVL) in Merlin Chain's top dApps has surpassed the $1 billion mark. Notable dApps include DeFi protocol Solv Protocol with over $600 million TVL, lending protocol Avalon with over $200 million TVL, and lending protocol Mage Finance with over $85 million TVL.

Merlin Chain's decentralized exchange, MerlinSwap, has generated nearly $800 million in total trading volume, with a TVL of around $100 million and over 320,000 active addresses on the blockchain. The launchpad Merlin Starter has facilitated $880 million in total trading volume, while the 3D open-world game Dragonverse Neo has registered over $20 million in transaction volume and 6,631 players.

Additionally, the NFT marketplace Unicross on Merlin Chain has attracted over 200,000 active addresses on-chain.