Synthetix Launches USDx Stablecoin

• Synthetix launches the USDx stablecoin.

• BGD Labs evaluates zkSync Era readiness for Aave V3.

• Pinata Cloud releases a Content Attestation Plugin.

• 3DNS receives ICANN accreditation.

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Derivatives liquidity protocol Synthetix launched USDx, its protocol stablecoin native to Arbitrum. Users can deposit ARB, USDC, USDe, or ETH as collateral to mint and borrow USDx at 0% interest. The zero-interest rates, subject to change in the future, allow depositors to access additional liquidity while continuing to accrue yield on collateral. USDx will also serve as collateral for trading Synthetix Perps once the derivatives market goes live. Users can also provide USDx liquidity in other markets like Curve to earn additional fees. Arbitrum has risen as the top chain by TVL on Synthetix V3 with nearly $30 million in deposits. The launch of Synthetix Perps on Arbitrum is expected in the coming months.

BGD Labs, a contributor to the Aave protocol, released a technical evaluation for supporting zkSync Era on Aave V3. The evaluation covers network security, bridging, oracle, wallet, and RPC infrastructure. The report highlights that zkSync Era is equipped with Chainlink price feeds and is compatible with Ethereum’s JSON-RPC standard. zkSync Era is also supported by multiple block explorers, numerous RPC providers, and major EVM wallets, including smart accounts with Safe. Areas for improvement include constant tooling development updates and technical maintenance overhead. BGD Labs concluded that zkSync Era is suitable for an Aave V3 deployment.

Pinata Cloud, an IPFS storage platform, released the Content Attestation Plugin, an IPFS Gateway tool for attesting to the authenticity and provenance of content. The plugin provides an interface for users to sign and verify IPFS files using their Ethereum wallet, simplifying the process of verifying the origin of files. It ensures that anyone can trust the content as long as the signature is valid. The Content Attestation Plugin is available on the Plugin Marketplace for Pinata users. IPFS is a distributed file system for storing permanent data labeled by a unique content identifier.

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