ArkotNews

The tweet spurred speculation that the notable venture capital firm could launch its own Optimism-based layer 2 blockchain. A16z crypto’s CTO tweeted: “not an L2.”

“We believe it is time to take this model to the next level and supercharge CAKE towards a deflationary model based on real yield and CAKE burn,” a blog post said.

The new stablecoin-like token, OMMF, will be backed by conventional money market funds and is available only to qualified purchasers and accredited investors. But retail investors can lend against the tokens via Ondo’s DeFi protocol Flux to indirectly access the yield.

LI.FI partnered with risk cover protocol InsurAce to provide protection for users who are bridging their cryptoassets from one blockchain to another.

The firm didn’t comment on the new SEC filing, but did outline its crypto investment strategy.

Longer-term narratives matter, argues Noelle Acheson, but they don’t set the price. That is set by short-term sentiment, which is both contagious and fickle.

Bitcoin has also continued its more moderately-paced momentum, inching toward $31K. ALSO: CoinDesk columnist considers Shapella's immediate and potential long-term impact.

Under a new proposal Lido would accept its $1.2 million in ARB tokens and reward them to liquidity providers in wrapped staked ether pools.

Liquid staking tokens also rise on Wednesday. Bitcoin holds steady above $28,000.

The move continues a 2023 rally that has now seen the most popular crypto gain more than 80%.