Yo-yo, what up? What up? Good morning, Good morning, GMG Woo. Tuesday, Tuesday, September. No, No, no, no, no, no, no. No. October 1st. October 1st. Tuesday October 1st 2024444 Look at that another beautiful day to have a beautiful day, another beautiful quarter to have a beautiful quarter. Oh baby it is locked in season has officially started today and we are so back like we never left. I got my Co host in the house Tyler Mando. How you guys doing today GM? GM guys, how are you?
Good. Good, we're good. So funny how many different things is up at. All right now. Yeah, I don't think your mic's connected either. That's OK. Tyler, how you doing? I'm good woke up this morning. What? Check. Check. Test it. Test it. Test, test, test. OK. Go just tap it. It's this one. I got my other one. I got my other one. Hello. Hello. Oh. There we go. Yeah, that's better. Yeah, we can. Maybe after the after the show, we'll we'll fix the my stuff. Tyler, how you doing today?
I'm good, woke up, the boards were green. We're still a little bit here just now. We'll get into it, but still feeling good this morning. Yeah. I mean, look, we're on the verge of another World War Three, the Second World War 3 of 2024. So, so, so we, well, I'm sure we'll, we'll get to that in a second in the market report. But we may, we may have to hang tight a little bit for October. It's it, it might be, it might be paused for a little bit, you know, and, and don't blame me
and my people. OK, it's but but there's definitely, there's definitely some, some stuff to, to, to pay attention to on the other side of the world once again, very sadly. But anyways, today I'll show today, today market report as usual. So let's talk about that stuff. Also, I want to talk about China. I think we got to talk about this too much together in mind though, So definitely want to talk about what's happening on that side of the pond.
Tyler's top 1000. Let's see if Tyler's got a top 1000 today. But his favorite meme point I noticed was was up like bajillion percent last night. Wyack, that was hilarious. It was a friend of mine, my friend George, I guess is still in it. It was like, hey, this is up like 3000%. I was like what? Or whatever. So that was hilarious or 600%. I don't know what it was, but it was hilarious. As was that arbitrary update. We'll do it today because we couldn't do it yesterday.
It was too much going on. We didn't have time. So we'll do the quick updates with y'all today and Robin loot box spin. So pay attention. Get your raffle bought or XYZ ready. At some point of the show, I'll give a code and you'll have to run a quick quest for us and and enter the giveaway. Reminder that two times the last two spins were this close, this close to crypto bug. So it's getting hot in here.
And then last but not least, this show is powered by galaxies with seamless built in monetization tools. Galaxies enables the development of sustainable long term communities, fulfilling bitcoins vision of the centralized freedom and independence from centralized control. Wow, Oh wow, that was so clean. Anyways, Anyways, anyways Mando mando mando mando talk to me about this market. Can you dig it? GM everyone.
So yeah, we I've had a little bit of a sell off as we've gone live, mainly because a lot of headlines coming out around about what's going on in the Middle East has some talk about potentially a missile being sent from Iran to Israel at the moment, which kind of caused Bitcoin to drop about $1000 it looks like. But nothing crazy. And we've definitely stabilized around there. So really just like geopolitical headlines other than that had been a, you know, stocks hit all time high yesterday.
We have some jobs data. Well, yes, you had Powell go out, come out yesterday and say there's probably only going to be two more rate cuts from now until year end. I think you probably have to take him at his word there, but there's not that much wiggle room. I would say we've only got two more fed meetings. So like, it would be strange, I think for him to, to, to not say that there'd only be two cuts from now until year end. Like he, he would just tell you if there's going to be 3.
So we're at two. Interestingly, like EU inflation came out today and came in at 1.8%. So you're starting to see inflation figures now dip below normally like the long term targets of these central banks. 2% was the inflation target for for the EU and we're at 1.8%. the US is kind of edging towards that too as well. So inflation's definitely coming down pretty rapidly around the world and we are, we're in like a fairly decent spot I think for
rate cuts still. The jobs figure will be the big one to see if the market's still on track. But at the moment, nothing seems to be that worrying. I think for like the global economy, apart from this geopolitical stuff, which, you know, we'll see what happens. We've kind of yes, last time we had a bit of a sell off and then we rebounded, who knows, who knows this time.
So that's been like the main, main worry in terms of markets again, like Bitcoin probably has been the one underperforming if anything, like Bitcoin dominance continues to like come down a little bit. You saw Suey probably continue to be the main name in L1's at the moment. That's that's rallying that hit like a new, well, not a not a new market price high, but a new market cap high again yesterday. They've got $100 million unlocked today. So it was a bit of a bullish unlock, so to speak.
I think some people have been expecting it to sell off around the unlock and in the end it's just kind of rallied. So yeah, it's a bullish unlock, which sometimes happens. And in general, I would say the majority of crypto, at least the meme coin sector was, was OK. Solana is also still up over a 24 hour period at least. So this really just feels like a period where Bitcoin dominance is coming down a little bit. You'll probably it's going to touch about 57% I reckon soon.
I reckon you could see it bounce from there. You have yeah. You had like a few different midcap meme coins. I think Tyler was talking about it, but like fog SPX again, like a few of those. And then some of the ones which are under 50 million all had like big jumps yesterday. So kind of decent, decent bounce across the board in in in meme coins in terms in terms of like
adoption headlines. I mean, I don't know if you think the Trump thing is adoption, but obviously his thing went to a white list of those going to be non-us users. You had some of the FDX creditors approve a restructuring plan. There's still going to be a lot of hearings about that over the coming months. You had Robin Hood, looks like they're going to be expanding their, their, their operations in the EU with relation to
crypto. There was some talk about Japan lowering the capital gains tax on crypto. Ohio is going to allow crypto to be used for paying your taxes. So just a few like, yeah, yeah, Ohio. Well, there's a bill that's going to try to add that one to the pile. Nice. And then, yeah, so like a few different stuff happening in terms of like the big crypto native headlines, everything. The only real big one was aside from that was like Eigen layer.
Eigen layer was probably the biggest unlock we've seen. It's not, I guess the air drop happened a while ago, but this is became transferable transferable and it hits $7 billion FDB. So a ton of different people on the ETH chains were were like farming that one. So I think of a bit of an unlock for for a bunch of different people there. But yeah, looks like, it looks like we've sold off sort of about 2% roughly on the back of this on the back of this this headline.
Yeah, we did something like that. We're you never really know what's going to happen with these things. 62 six you like my my bull flag anyways, yeah, 62.67 on on Bitcoin Ethereum's at 2575 and you have Solana just holding like that 153 mark right now. So that's what we're looking at in terms of prices. And I guess the ME majors are Pepe at 4 1/2 billion, Mug at 600 million and then with at $2.47 billion. So it's not looking that bad given the headlines.
But you know, there's definitely a lot of a lot of uncertainty around the market right now, which I'm assuming is because of that Mando, right? When it comes to to to the market, I don't think people rush to buy. Right now I think just has a short memory, you know, and, and like we that the last time this happened what Bitcoin felt like $10,000 like. Yeah, in one candle. It was insane. It was it was insane. Let's go look at it. It was back in April. It was back. It was this candle.
You're right. Yeah, that was it was April, April, April. It was this, it was this one. Actually, we ended up we we closed the month green. We like rebounded after that exact headline here, yeah. But it was a big, big move. It was trading at like 65 K. We went all the way down to like high 50s, I think, yeah. Yeah, we went, it's 59 K but we were trading at 72 K that month, Yeah. This one, yeah.
So I think people just are wary of that, you know, But I think if you do see a Wick down, depending on what gets fired where, yeah, I think I think it will probably be a bounce off the back there. I mean, hey, you know what? They want to give me a, they want to give me a chance to long it at like 58, you know, not mad, you know. To be honest this was the only thing I was kind of worried about. I even said it yesterday.
Like the only thing I was worried about from now until kind of even year end was this the we had closer towards World War three. This is kind of the biggest escalation I can kind of imagine from here. After this I don't really see it escalating like this is kind of what I was worried about. Unless time. Unless China decides to invade Taiwan in the next couple of months, I think. He's probably, yeah, let's avoid that. Yeah. Let's not even put that out there.
Yeah. I mean, look, I I follow this doubt. The one guy. I mean, this is his Olympics, right? Like this guy, this guy, shit like that goes down. The Walter Bloomberg guy, you know, he's caps lock. He's locked in, so it looks. Like he's on fantasy top, Is he on fantasy top? He's good, He's the He'd be a tough. Guy EB is, but he's not. Yeah, he should be, right Tyler. Like I actually, he should be on
fantasy top. Maybe because he's he's much he tweets beyond just pure crypto and so is DB, but. Yeah, he's, he's he, he's out there. Anyways, it says 13 minutes ago, Iranian attack expected next few hours. And then you have CNN senior White House correspondent tweets the US expects that the potentially forthcoming Iran attack, attack on Israel could be similar in scope and scale as the attack back in April. So that's what you were saying this morning, Mendo on chat?
Yeah, I think Iran, Iran's probably told, told everyone just like last time. And you'll see like in some ways a not measured response, some ways a measured response, like I don't know. But normally if you give your cause also like when missiles fired from Iran, if you don't know the map, like it has to travel quite a long way.
It has to go away all over. It has to go away all over parts of Iraq, then Syria. And so there's kind of a lot of time for like different, different people to intercept it on the way, so. It's giving you. Yeah. Anyway, so if anyone's, you know, affected it out there, we definitely think about you guys. It's fucking sucks and these times are tough, but you know, it's it's, it's something that we're going to have to pay attention to on on our side as well.
So definitely, definitely not great headlines as we go into Q4 and into October. It was, it was all chill. And now it's it's, it's not so chill. So we'll be waiting to see what happens there. But crypto last time we remember, don't, don't be don't get shaken out. You know, that's the only thing we can tell people because it literally just happened back in April and everybody got super scared and then we needed GCR tweet to save the market. So maybe that's what's going to
take GCR back out into tweety. But anyways, so that's a good round up on the on the market. Anything on China, Mando, did we already talk about everything? Like, is there any other news except for the fact that they're pumping up billions of dollars into the economy? The only headline I saw today was that that they are considering beefing up the ETF industry. But as far as I'm aware, China
markets were closed today. So nothing you didn't see like I think the the Nikkei, the Japanese index rallied back, but I think most China markets were closed today. I don't know why. OK, well there you have it. Tyler, Tyler, Tyler. Let's see what you got for. US today, yeah, our top story. Crypto majors have fallen 2 to 3% this morning as news breaks that Iran is preparing a ballistic missile attack against Israel. Oil up 3%, Stocks down 1%. Another macro news, drone pal
Mando mentioned this. He said that the Fed's base case is 2 more 25 BPS cuts and in the year just 50 BPS lower. The prediction markets are still pricing even with 75 BPS lower. So we will see. I like the tokens officially unlocked, opening at $4.00 and a $6.9 billion FDV. Also a wild finish for prediction market betters as well. Perhaps we'll get into that. Solana open up applications to a Solana incubator with an October 4th deadline that is this, so go apply there if you're
interested. Jesse Pollock announced he will be taking a leadership role with Coin Base Wallet and joining the Coin Base executive team in addition to his leading base. So big news for Jesse and base and then Tim Waltz and JD Vance set to square off NAVP vice presidential debate tonight with Waltz favored to win at 72 to 75%.
In prediction markets right now in protocol news, the Trump families, World Liberty Financial, they open up their white list for some Americans. I believe they're credited investors only. They this was shared in a tweet by President Trump OCH on chain heroes are launching an idle RPG on chain game on abstract. One of the first major names to
declare. So that was big news and then shape and art focused L2 officially launched and celebrated with several opening day mints from some big name artists like DK motion and Harvey Rainer and memes. NF teams meme coin majors were up big overnight with Bonk Popkat all up 10% mog as well Wyack and Geeko GEICO. I'm not sure how to say it. They were notable top performers Vlog big move as well. Beeple dropped a new art piece Tree of knowledge. It's a it's a pretty slick
piece. It's a kinetic sculpture with a switch that allows users to see signal and noise as two different views. Zagabond shared a brief state of Azuki post where he shared updates and accomplishments from the team against prior feedback points yesterday on Twitter. Notable Pepe's tease their series 7 kick off that's happening later today. I think they've already sold like 40 ETH in cards already and then ruins ruins leaders mostly green again, dog, rsic and billion dollar cap all in the
green. So it was a it was a nice day. OK wow, love to see that. So wait, you're, you're saying you're saying our ruins are green? Well, they were as of this morning. Hopefully they haven't gone too far South here with the the Bitcoin. But I'm refreshing the board. Yeah, it's still green. Well, there you go. Well, there you go. You absolutely love to see that. You love to see that. Anyway, so where do we even start? I feel like Eigenlehower is like
one of the biggest stories. Right, Yeah. And I think that is arguably the the biggest story here from the day a lot of I saw CBB had an interesting tweet about basically saying if this came in came out under 4 billion FTV, it was a pretty bad sign for new token launches and just kind of stayed at the market. It came out closer to 7 billion. I think it, it is selling off a little bit live right now. Not a huge surprise, but I think this is AI think this is a
bullish outcome. I think folks are happy with where Eigen is coming out here. I think it's the impact is perhaps, you know, are more teams going to feel more comfortable perhaps launching tokens in Q4 now? Like we've had a pretty big dry spell for air drops and token launches since, you know, well, April May was mania over saturated. Every post air drop token chart had the exact same price action and it was basically straight
down. And I can look into buck the trend here, see who who perhaps is Next up. Yeah. You want to see an interesting prediction, Mark I I tweeted this out the. Action all that let's let's talk about this because that explain to me what? Because I read your tweet this morning first thing, but that's crazy. So the the market here was would Eigen AirDrop by September 30th, which is yesterday. So you know, it's trading at like 50% up until a few weeks back and then they announced the
day as September 30th. You know, it shoots to 9597% like you think you basically won the bet. And then what, like a day ago they announced, OK, we're actually we're going to do it at midnight, which is October 1st. So it dropped effectively to 0 from 97% all the way to like 5 percent, 3%. And then last night apparently launched a few minutes early. So it did come out on September 30th, much to everyone's surprise.
So anyone who bought it at like 2 or 3% instantly hit the 30X and anyone who sold, I think the lesson here is just never sell. Like if you're already down to two or three percent, there's just no, no reason to sell. Just just hold for like the the wild outcome there. But so some pretty interesting action. I mean, never sell is, is is name of the game. You know, I'm good. Never sell his name of the game over here.
That's an interesting 1. So I, I mean, yeah, because I, I saw it was 9:00 PM PST originally and people like fuck, like I'll have to stay up all night and wait for my did you guys get any tokens? I did not. Did did you get some? I know no. Oh, you're muted. Let. Me see, I haven't even looked. I need to. I need to check it out. What, what? What would make us eligible for Eigen layer AirDrop? A ton of things. Like, a ton of things. How do we see? You might.
Tyler, you use a lot of dapps and sure you surely you're, you're eligible for this. I thought Eigen was more for folks who who were just re staking on their platform. Ah, this could be. So what's the website? What's the official website? That the one that won't drain me. I usually ask Tyler for that, but now he. I don't have it handy. Actually I wasn't deep in this because the the AirDrop of tokens happened a while ago. This was just the.
Token, OK, So it's on the Agenfoundation's website, obviously. So it's not on Agenlayer's website, itsagenfoundation.org claim I get now. So it takes you here. Enter check eligibility Metamask. The thing is, nowadays we all have like a million wallets. So let's see. Are you guys ready to see how I get 0 tokens live on air? Oh, you knowledgeable RIP. Where's my I have a want want want button somewhere here. I need to clean up my my other.
It is there you go. Stay tuned for future rewards. So I I get none of that shit. Yeah, I was not eligible as well. But I mean these it came out as like the 90th biggest crypto token by by market cap. I get. This just a lot. There's Agenlayer's very legitimate technology as well. It's not just like, oh, it's a coin. And people would think like Agenlayer is extremely legitimate technology. We've been talking a lot about Agenlayer, dude, don't ask me. This is not my shit, OK?
Nobody. Knows. Nobody knows. What I mean, but it's provocative, yeah. It's not my shit. Couple conversations with the Eigen guy. Did you not see that tweet yesterday where somebody said I will pay someone like a billion trillion dollars to explain what eigen layer does and the eigen layer found? A replied like something that just no one would understand. Oh yeah, I mean you. Want me to explain to you?
Let me explain to you. OK Eigen layer as foundation OK facilitates theorem validators to stake their ETH again to secure protocols cause active service activated service. Sorry ABS. So basically the restaking mechanism pulls the pulls the security together, increasing the cost of potential attacks and building a stronger ecosystem. So basically in, in, in, in, in in, you know, layman's terms what can be on burden it's.
It's really one of those. I've gone pretty good at the Kamala thing, Hey, like I and you know, it's the clouds, you know the huge. I thought that was a pretty good explanation there. I googled it, that's why it's actually, no seriously, it's Eigen layers foundation facilitates Ethereum validators to stake their ETH again, see it to secure basically it's security layer for Ethereum. So basically you can stake and restake your Ethereum on a
secure level. And if you want to attack it like from a from a hacking standpoint and all that stuff, it cost you more. So it's basically like securing the network when it comes to Ethereum and just making it more robust. Like TLDR, Eigen layer makes Ethereum more robust and stronger. That's for someone who wants surface level understanding like
myself. But if you want to go deeper, like, yeah, like on the myriad level, like, you know, I know LOX is talking to egg and layer people because egg and layer DA technology apparently is really good. And like I know Sobi works with them on some stuff. So like, I don't know. But that's stuff I can't explain because you know, I'm, you know, I start my role, the company maybe. The problem is anyone who bought E3 steak it since February is down.
Yeah, on that choice maybe. Well, that's, I mean, listen, if you bought ETH to, you know, and steak, that's your problem. Anyways, you buy ETH to buy mug our little mug clip actually get the, the, the a lot of views the other day on the on the FOMO art page. You absolutely love TCA and we're 80 followers away from 10:00. We, we cannot hit that 10,000 mark. I swear to God, you guys want me to give away $5000 today or not give away money every day to you guys can't give 10,000
followers. Come on, man. Anyways, Tyler, you had a few other things in your, in your top that that look very interesting. I like the unction hero stuff because we don't talk about what through gaming that much, but like what? What's what's going on there? Yeah, it was actually a beanie tweet that that put this on my radar. And then Luca and the abstract team were interacting with it. But apparently this is a pretty notable game, Unchained Heroes, you know, from a pretty big team here.
And in his tweet, he's talking about, you know, perhaps the the driver there was some of the incentives to come build. Certainly, you know, I don't think that's any secret that that's why, you know, teams are choosing to build on whether it be Blast Ape chain or or hear abstract.
I think this is notable because, you know, we we've seen some updates out of like what abstract is in the vision, but we haven't gotten, you know, a whole lot of updates with respect to products and like apps that that are coming to abstract. And here's a big one. And and folks who are deeper in the gaming space seem to be pretty bullish on it. So seems like. I've heard of unchain heroes before, just I didn't go too deep on it, but I've seen them around quite a little bit.
So I've I've heard of it. So I guess it's the first of many to launch an abstract and we'll see what they've got cooking. So that was that was some, some, some news on there. And then you had sorry in your in your stuff. You also had. I mean, let's see, what else did you have? Shape was a big one from yesterday. So for for those in the art scene. So you've been talking about shape a little bit. So this is the art focused L2 that that's the the pitch here.
So they, they opened up their own, their own L2. It's from the team behind DECA. They officially went live yesterday. They they debuted with several mints, notable artist DK Motion, Harvey Rainer, several others, you know, similar how DECA had that like that collector model where you could, you could get, you know, new and updated genitive art based on what you collect here you can collect metals. So you can collect metals as a form of a collector score. I was playing around with their
site in L2 yesterday. They they've got they made some good decisions. 1 you can use gas from other EBM JS. So like if you hadn't bridged much ETH over to shape yet, you can actually pull gas from my blast or base. So I actually had not seen that function before. This is a great website. So I thought that was cool.
There's an easy like bridge link front and center in the top right, which I thought also made sense, just like some nice UI touches that you don't always see, which just makes things a little bit easier to to do. So, you know, we'll, we'll, we'll see how it takes off digital art. I mean we, we've just got some momentum X copy beef Brothco and that the most likes like he's got some momentum right now. We'll see if if it carries over to the primary market.
This is really cool by the way, so if you're in the art side of the space, I would pay that. This is really nice website. Huh, interesting, interesting. That is super cool. That is super cool. Just a reminder, raffle ball dot XYZ if you want to enter the giveaway at the end of the show. Robitae is the code ROLBITDAY spin of art. Mr. Tyler, first of all, are you going to this? I'm tempted. This all the election night. Election night at People Studios.
That sounds like it's going to be so fun. That'll be a fun party. I'll probably, I'll probably be home with the family that night. Yeah, yeah, yeah. I'll probably have some some action on the line. That I'll be Oh yeah, that would be fun. Anyway, Speaking of it, the reason why the people so he he announced a new series of work. Yeah, Tree of Knowledge. I mean, I am a huge fan of his Kinect sculptures. I think this is some of the best art in the world right now.
He's the master of this. So it's called Tree of Knowledge and, and the, the core idea, it's kind of a, a view of technology and how we're interacting with technology as society and how there's like 2 worlds signal where everything we have a healthy balance with tech and that's like the green tree and then we use it for knowledge. And then there's the noise, which is which you can toggle to
see this. And man, it doesn't feel like we're in the noise era right now, like the sound versus the signal. Yeah, but it's a, it's a cool piece. That is really cool, have you seen them in IRL DS? I have it. No, it's like human one. Human one sold for. I was looking back at it today. It sold for $29 million. It's one of the biggest all time digital art fails. Yeah, that. I was trying to think, does he
have other Kinect sculptures? I thought there was another one but I couldn't find it. So is it just human made? He made a few of them like at the people studios, like if you go to people studios, like there's a there's a few of them hanging around and and it's super freaking sick dude. Like it's there's so the he has the studios. Really everyone should try and go to to the to the to people's studios once at least, because that's so much fun.
There's a lot going on. Anyways, in other news, I mean, what else do you have? Do you have you have the world liberty defy stuff in there? I saw the the the the the post going up yesterday. I don't know if you wanted to cover that, but. Yeah. I don't have a whole lot else on on that. They opened it up. I think for US folks, you have to be accredited investors, Yeah. Then if you're outside the US you can sign up as well.
I didn't see a a way to find like how many people had signed up. I imagine there was a lot of interest for that whitelist already so that'll be interesting to see if that info comes out. We're 35 days from the election so scarcely the countdown is on. Like are they going to launch this pre pre election or not? All right, because you have a polymarket thing on it, right? I think Polymarket's before the end of the year, so a little bit more time. I think a lot of folks feel
like. No, no, it's before the election. Oh, OK. Wow. It settles on November 4th all. Right then the clocks really ticking then. It's this one, right? Before the election. Yeah, yeah, that's the main one. Yeah, it's before the election, so that clock is taken. And then you had some, some light NFT news here that I'm seeing with regards to Zuki and whatnot, right? Yeah, Zuki, it wasn't. It was more just like a recap. I didn't think it was nice to kind of have everything in one place.
So Jacob LON just kind of hearing what I called a state of Azuki, he talked about, you know, everything they've been doing IP expansion with their Azuki anthology anime series Episode 1, which has already come out. Their support for collectors, introducing their collector system, improved communication with their garden gathering calls on Discord, and they're new behind the Beans documentary documentary series they're launching on YouTube.
Their support for builders with the Uzuki passport and their garden tour. And then the long term Vision for Anime 2 Point O and an-ime.com as core pillars of their upcoming anime chain. So it was a nice refresher, kind of got Uzuki kind of back on the timeline is Akabon doesn't give a whole lot of updates. So it's one where you do pay attention when when he speaks up, not necessarily like a a market mover type announcement, but a nice recap.
So, you know, we'll see what else they've got cooking here. Come come Q4. Love that All right, well, let's see what's what they've got cooking, but I, I definitely I'm bullish on them. I think I like the the approach, I like what they're, what he talks about on timeline and I like what they're doing a lot. So I'm excited to see what the Uzuki team cooks before we go to the ARB update and then we'll get to the robit giveaway. The code is robit day, ROLLBITDAY, robit day, robit day.
All you have to do is listen to our show and then follow the instructions, different instructions. Every day you retweet the post and of course, follow us a little bit because without them, none of this would happen. Tyler Arbitrant update. We couldn't do it yesterday, but what's what, what, what did they have cooking in the past couple of weeks? Yeah, quite a bit. So last week we we dropped the headline for their bridged USDC standards and this ended up being one of the the Hallmark
updates from last week. So bridged USDC stand on all their orbit chains. The idea here is to reduce liquidity fragmentation across all the chains so developers, they can deploy this USDC standard using the Arbitron bridge. And the key is there's an optionality for a future upgrade to to the native USDC. So per the team, this is permissionless, standardized,
secure and audited. Plus it's upgradable and in theory once more and more bridged USDC is used, liquidity increases, then there will be an option for mutual agreement across all these parties where you circle upgrades to native USDC. So I think that is kind of the end goal here is that you're bridged USDC will convert to native USDC, which is more interoperable and gives you some
more functionality. So this is what they're working towards, but some strong progress, I think already 179 million in TVL accumulated across the L2 orbit chains and certainly USDC, a big part of that. A few other quick hitters out of Arbitrum. So Coinbase's Ratch, Bitcoin, CBBTC is coming to Arbitrum soon. So that would be 1 to watch. And then a lot of action coming out of Token 2049. So they had a major event called Arbi Verse.
It was I believe their first event with no speakers, just projects bringing their communities to life IRL and together. And then I also believe their CEO and Co founder Steven from Off Chain Labs spoke with Vitalik about the evolution of L twos and how ARB is controlled contributing to Ethereum's vision with with stylus. So that's a that's a pretty hallmark conversation there. Definitely recommend folks check that out. Yeah, that Arbor Verse thing looks really good.
They had like basically every project or not every, but like like a ton of projects that are building Arbitrum like at the same spot, which was really cool. They had a little like stuff in Japan and Korea, of course, with what they were doing, but it was not as big. But like Arbiverse in in Tokyo, a token looked like really fun, but Vitalik was there. So I know Vitalik's a big Arbitrum fan. Yeah, I'm rightfully so. Right. I mean arbitrum. The biggest contributors to the entire they're.
The leading L twos, right? I think it's fair to say that they're the L2 that's the closest to the final form that Vitalik wants to see from L2's right? Yeah, and, and they keep continuing to grow. So we also had a lot of big gaming news. Oh. Toby, look at this. Look at that. Look at our boy. Look at him. He's he's deep in there and they just announced Zai Games announced another $10 million grant, so they continue who's. Migrant. Brother, why don't we get any of these bronze?
Where are these bronze going, man? But. Where? Oh my God. There's an epic game. Watch an epic game on Zai. Everyone's talking about $10 million grants, $400 million this, $200 million that. What the fuck are these grants? Because you know, brother, what's that, brother? What the hell? Anyways? Is that it for the R? Probably. Do you have anything else? Yeah, a couple others. So in the game, so 8 chain is coming to RB verse soon. So I think that that's a huge
one on a lot of people's radars. And then our Uprising L2 will be powered by our by orbit in partnership with the Oasis games. And that's touted as the world's first native yield gaming blockchain. And they actually shared Arms Fest block time, low summit fees and, you know, and interoperability as key drivers behind that decision. So three big pieces of gaming news. They're they're they're cooking every week. We've got more updates.
Every week you have a stacked update, let me tell you that. So you absolutely love to.