$M3M3 is the first Token issued under the MEME(3,3) mechanism, sharing fee revenue with the first 1000 staking users. Its issuance aims to consolidate the platform's advantages in Liquidity and new Tokens, enhancing volume. Although its valuation is relatively rational, it may face market challenges and is recommended to be viewed as a strategic tool rather than a typical Meme investment.

The article discusses the rise of crypto assets, particularly Ethereum, and the reconstruction of value on Wall Street. Against the backdrop of lackluster growth in TradFi, the crypto market is once again attracting follow. Ethereum, with its Liquidity ETF and stable market position, draws institutional funds; despite facing competition, its price pullback actually attracts investors. In the future, if the capital inflow continues, it may boost the price of Ethereum rebound.

At the 2025 Web3 Scholars Summit, Professor Zhao Zhong from Yale University introduced the LiDO model and its extended framework for the first time, aiming to provide mechanizable verification of security and liveness proofs for complex Byzantine fault tolerance consensus protocols. This innovative solution includes a security abstraction layer, a liveness assurance layer, and a DAG extension layer, and has been applied to multiple industrial-grade protocols, laying the foundation for the reliable development of the Web3 ecosystem.

Decentralized Finance Industry Biweekly Report
Decentralized Finance行业观察
1. The issuer of the Bitcoin liquid staking token LBTC on a trading platform is Lombard.
Lombard is a company focused on the development and issuance of LBTC. LBTC, as a security-focused Bitcoin liquid staking token (LST), allows both individual and large institutional holders to earn yields and leverage their Bitcoin assets in Decentralized Finance. By collaborating with Babylon, Lombard is committed to connecting the economic value and security of Bitcoin with the diverse opportunities in DeFi.
Since its launch in August, Lombard has captured 40% of the Bitcoin liquid staking market, with a total locked amount of (TVL) exceeding $500 million or 8,500 BTC, and the number of users has surpassed 12,500. To achieve the goal of connecting Bitcoin to Decentralized Finance, over 60% of LBTC.

South Korea is set to hold a presidential election, which is expected to bring four major changes to the global crypto market, including strengthening its core position in the Web3 market, reforming crypto assets tax policies, introducing Bitcoin Spot ETF, and re-evaluating the "one exchange one bank" model. These policy changes will promote market normalization and attract more investors to participate.

This week, the Web3 gaming industry has been active, with multiple projects receiving investments and launching new games, showing a trend of player rise and increased activity. Games like Moonveil have performed outstandingly, and capital continues to follow this industry, indicating great potential for future development.

On June 1, 2023, Cellframe Network suffered a flash loan attack due to a miscalculation of the number of tokens during the liquidity migration process, resulting in a profit of approximately $76,112 for the hacker. The attack stemmed from insufficient consideration of the changes in the number of tokens in the old and new pools during the liquidity migration. It is recommended to strengthen the calculation methods and conduct a comprehensive security audit to prevent similar incidents from occurring.

The upgrade of the OP Stack supports multiple proof schemes through modular design, enhancing the security and adaptability of the Blockchain system. The design of Bedrock allows developers to dynamically add new proofs, ensuring compatibility with future technologies and promoting innovation and collaboration in the L2 ecosystem.

Wall Street is witnessing a competition to increase Ethereum holdings, with companies such as SharpLink Gaming, Bitmine, and The Ether Machine actively accumulating ETH, demonstrating institutional confidence in the prospects of Ethereum. This trend may boost ETH demand and price while also promoting the development of the Ethereum ecosystem. However, investors should exercise caution and be aware of market risks.

The Dilemma and Future of Stablecoins: Currency Innovation Under Triple Challenges
In the field of digital assets, stablecoins are undoubtedly one of the most prominent innovations in recent years. With their promise of being pegged to fiat currencies, they have built a "safe haven" for value in the volatile world of cryptocurrencies, and are increasingly becoming an important infrastructure in decentralized finance and global payments. The rapid growth of their market capitalization seems to herald the rise of a new form of currency.
However, the Bank for International Settlements ( BIS ) issued a stern warning in its economic report for May 2025. The BIS pointed out that stablecoins are not real currency, and behind their seemingly prosperous ecosystem lies systemic risks that could undermine the entire financial system. This conclusion forces us to reassess the nature of stablecoins.
This article will provide an in-depth interpretation of the BIS report, focusing on its proposed "triple gate" theory of currency — that is, any reliable currency system must pass through singularity and elasticity.

The overall performance of the crypto market in September was sluggish, with Bitcoin maintaining between $50,000 and $60,000, and trading volume hitting a low. Some alts saw a slight rebound, but the overall sentiment remained bleak, and the market entered a consolidation phase. There was polarization in venture capital in the Primary Market, with popular tracks being SocialFi and AI Crypto, while Bitcoin and stablecoin remain effective business models. Investors need to be patient and follow the market turning points.

The article focuses on the challenges of the Web3.0 ecosystem, emphasizing the balance between innovation and security. The CEO pointed out that Compliance is the cornerstone of sustainable development in the industry and provides solutions such as smart contract audits and on-chain monitoring to address the rising security threats. Collaboration with regulators helps to establish a transparent and effective regulatory framework, promoting the stable development of Web3.0.

The crypto asset Zcash is about to undergo its first halving, with the block reward decreasing from 6.25 ZEC to 3.125 ZEC. At the same time, the Zcash development team will activate the Canopy network on November 18 and establish a new development fund to promote the project's decentralization. The market has reacted positively, with the ZEC price rising by 5.94%. The halving and network upgrade lay the foundation for Zcash's future development, and investors are highly concerned about this.

This entrepreneur returned to the University of Hong Kong to pursue a doctorate after 20 years of starting a business, aiming to systematize his experience to guide future entrepreneurship and investment. His company strategy has shifted from a single encryption domain to diversification, focusing on long term investments and AI applications, committed to supporting entrepreneurs and actively positioning in Hong Kong's crypto financial market, reflecting the importance of continuous learning and adapting to change.

This article analyzes the case of a well-known figure in the Crypto Assets field who was arrested for allegedly evading $48 million in taxes, emphasizing the importance of tax compliance. The case stemmed from his concealment of assets after renouncing his U.S. citizenship and obtaining Bitcoin gains through a U.S. company without reporting them for tax purposes. This incident has raised concerns about the legal risks associated with Crypto Assets.