GM!
Last week AO's deposits increased, ArDrive's Turbo upload service got USDC support, Apus Network shared a preview of their new GPU TEE attestations, and more.
Let's get into it.
AO deposits steadily increase đī¸
Last week, we covered AO's new support for $USDS deposits. The Permaweb Journal also pointed out that USDS deposits were approaching almost $30M, and at the time of writing this number has crossed the 30 million mark.
We also mentioned that total deposits across $stETH, $DAI, and $USDS had reached over $550M (now over 580M). This is not a small number by any means, and puts AO in the top 20 protocols for bridged TVL according to DefiLlama.
This is huge for the ecosystem in many ways - first, it brings liquidity into the AO ecosystem. Secondly, user emissions are denominated in either $AO, which will be used to support compute costs as AO develops, or $PI, which is an index of the top ecosystem projects on AO.
This helps bootstrap the cold start problem many chains have for getting liquidity, but also it's a completely fair launch - deposit tokens, get emissions. There is no minimum staking amount, or complex mining requirements. Users are rewarded for bringing their own liquidity, with $AO minted in a similar style to Bitcoin.
Based on the stats, it seems users are realizing the potential of AO and supporting the ecosystem further.
This is not financial advice.
ArDrive Turbo gets USDC support
ArDrive is Arweave's premier data uploading platform, powered by Turbo - a bundling service which groups Arweave transactions together and posts them to Arweave.
Turbo already has support for numerous different cryptocurrencies - and adding support for $USDC means less friction for users, and more flexibility on which tokens they can use to upload data to Arweave.
The newly added $USDC support works for both the online web interface, and for their CLI tool - so users and developers alike can make use of the upgrade.
Apus Network preview GPU TEE attestations đ
TEEs (Trusted Execution Environments) allow computation to be performed without exposing the information inside of it - and Apus Network recently previewed their GPU TEE attestations.
This means that GPU computation can be performed in a protected environment and recorded onchain, with the TEE providing cryptographic attestation that the computation occurred within a trusted execution environment without external tampering.
This is an interesting development as Apus are already providing GPU compute support for AO, and with the addition of TEEs would allow private GPU computation to take place which could be interesting for financial applications/trading firms not wishing to expose their data, for example.
AO also has support for CPU TEEs, so with Apus, it can potentially provide private computation for CPU + GPU networks. Interesting stuff!
ICYMI đ
- Upshot teases collectible predictions
- PermaHub docs announced
- StarGrid 0.9.8 announced
- Vento releases developer SDK
This Week's Featured Community Piece đ
LiquidOps is one of AO's first DeFi protocols, and last week Alea Research covered everything you need to know about how LiquidOps works and its unique position being built on AO. Check it out here.