Weekly Project Updates: XRP ETF Listed in Brazil, Zora Launches ZORA Token, etc

1. The World’s First Spot XRP ETF Is Listed on a Brazilian Exchange link

The world’s first spot XRP ETF jointly launched by Hashdex and Genial Investimentos officially started trading on the B3, the Brazilian stock exchange, on April 25th. This ETF is listed under the code XRPH11, tracks the Nasdaq XRP Reference Price Index, and promises to allocate at least 95% of its net assets to XRP.

2. The Total Supply of Berachain’s Stablecoins Has Seen a Significant Outflow in the Past Month, Dropping to Approximately $550 Million link

Possibly influenced by the decline in BGT mining profits, the total supply of Berachain’s stablecoins has seen a significant outflow in the past month. It has dropped from its peak of $1.4 billion to approximately $550 million. Among them, the supply of the native stablecoin Honey has decreased from $740 million to around $280 million. The total value locked (TVL) of mainstream cross-chain assets (such as BTC, ETH, stablecoins, etc.) has declined from its peak of $3.5 billion to about $2.7 billion, but there has been no substantial outflow of mainstream assets like BTC and ETH. It is worth noting that currently, the TVL of mainstream cross-chain assets is mainly composed of the deposit funds in the Boyco market. On May 6th, the funds in the Boyco treasury with a 90-day lock-up period and the related rewards will be unlocked, and the capital flow situation at that time will be even more worthy of attention.

3. Nvidia Halts the Announcement of Its Partnership with Arbitrum and Still Rejects the Cryptocurrency Elements in AI Projects link

Arbitrum was originally scheduled to announce itself as the only Ethereum partner in Nvidia’s Ignition AI Accelerator program, but was halted by Nvidia at the last minute without any explanation given. Despite the ongoing attempts by cryptocurrency projects to integrate into the AI ecosystem, Nvidia still explicitly excludes cryptocurrency — related projects from its Inception program.

4. Jupiter DAO Proposes a “Next Two Years” Resolution Plan to Gradually Advance the Independence of the Decentralized Legislative Structure link

According to the announcement on the Jupiter community forum, Jupiter DAO has announced the “Next Two Years: DAO Resolution” proposal. It plans to gradually achieve the independence of the DAO governance structure with the support of the team. The core measures include standardizing the DAO proposal process, transferring the control of the treasury to DAO members, establishing a legal entity, achieving financial independence, and ensuring governance transparency. The team will add $10 million USDC as operating funds and will grant DAO 50% of the protocol revenue (currently about 32 million JUP) after two years to support ecological growth.

5. Treasure Launches the AI Agent Creator, Which Supports Transforming NFTs into AI Agents Driven by MAGIC link

Treasure DAO has announced the launch of the AI Agent Creator. It has added the holders of NFT series such as Pudgy Penguins, Azuki, Miladies, Meebits, and Bored Apes to the whitelist. These holders can transform their NFTs on Treasure into AI agents powered by MAGIC. Previously, Treasure DAO stated that due to the deterioration of its financial situation, it was facing restructuring and would terminate its game operations and the Treasure Chain.

6. PancakeSwap Announces That Its Trading Volume in Q1 2025 Reached $205.3 Billion, Setting a New Single-quarter High Since Its Establishment link

PancakeSwap has announced that its trading volume in the first quarter of 2025 reached $205.3 billion, a new high since the platform’s establishment. According to Dune Analytics data, the number of unique users in this quarter was 5.83 million, the highest since Q4 2021. Since Q1 2023, PancakeSwap’s trading volume has increased by 921%, the number of unique users has increased by 81.25%, and the number of transactions has increased by 159.41%.

7. The Launch of “Letsbonk fun” Drives the Daily Creation of Tokens on LaunchLab to Soar to 3,554, Setting a New All-time High link

According to the data panel of @adam_tehc, after the Bonk community announced the launch of the Memecoin launch platform Letsbonk fun based on the integration with Raydium — LaunchLab, the number of tokens created by LaunchLab on a single day on April 25 increased sharply to 3,554, an increase of about 818% compared with the previous day. Among them, 71 tokens were successfully launched to the Raydium external market, and the number of active addresses reached 18,300, all — time highs.

8. Zora Announces the Launch of the ZORA Token on April 23rd link

The Ethereum Layer2 network Zora, which has received investments from Paradigm and has cumulative financing of over $50 million, announced that it will release the ZORA token on April 23. The snapshots will be taken in two periods, from January 1, 2020, to March 3, 2025, and from March 3, 2025, to April 20, 2025. In the past few years, the Zora network has promoted itself with the NFT creator economy, but this year it has shifted its focus to Zora Coins, a tool for launching Memecoins on the Base network. In just over two months since its launch, it has created more than 500,000 types of tokens on the Base network.

According to the data panel of @zora, as of April 20, the number of traders of tokens created by Zora reached 298,000, among which the number of DEX traders was 285,000. The number of transactions reached 708,000, and the number of transactions in DEX was 533,000, all-time highs. It is worth noting that compared with the number of tokens created by Pump Fun on the same day, the ratio of Zora Coins to Pump Fun is 33.6%:66.4%. In addition, the number of tokens created by Zora Coins on Base every day has significantly exceeded that of its competitor Clanker, and the cumulative number of creations in history is almost twice that of Clanker.

Jesse Pollak, the person in charge of the Base protocol, praised the active users of Zora Coins for reaching an all — time high on April 20. However, he was attacked by ZachXBT. ZachXBT described these (post) tokens as “viruses” and said that not even one token has a market capitalization of over $5 million. Jesse Pollak admitted that most of the content is almost worthless, and there is very little content of real great value. If the only importance of content is judged by the result of exceeding $5 million, from any reasonable perspective, it is divorced from the reality of content operation. In response, ZachXBT said that since most of the content is recognized as worthless, why would a rational creator want to dilute his brand by issuing a large number of creator tokens? It is harmful to pretend that creator tokens are different from Memecoins through false marketing. Jesse Pollak retorted that creating content on — chain is no different from creating content on Web2 platforms in terms of brand dilution. Good content will spread virally, and the market and algorithms will determine all of this.

9. Synthetix (SNX) Is Designated as a Trading Attention Token by the Digital Asset Exchange Association (DAXA) of South Korea link

Upbit has announced that due to the inability of the sUSD stablecoin to maintain its peg to $1 and the significant volatility of the associated token SNX, SNX has been designated as a “trading — caution token” by the Digital Asset Exchange Association (DAXA). Consequently, the deposit service for SNX has been suspended since 15:00 (KST) on April 24. Upbit stated that it will decide whether to resume or terminate trading support based on subsequent evaluations. The resumption time of the deposit service will be announced separately, and all deposits during this period will be put on hold and refunded.

10. Binance HODLer Airdrop Launches the 16th Project, Sign link

The 16th Binance HODLer Airdrop project is Sign (SIGN), a global infrastructure for credential verification and token distribution. From April 15 to 20, 2025, users who participated in Binance’s BNB Guaranteed Yield or On-chain Yield products could receive the SIGN airdrop. Binance will list SIGN at 19:00 (Beijing Time) on April 28 and launch trading pairs with USDT, USDC, BNB, FDUSD, and TRY, and apply the seed label.

Previously, the Sign Foundation announced the token economics of SIGN. The total supply of SIGN tokens is 10 billion, with an initial circulation of 12%. It will be deployed on the Ethereum network and distributed through BNB Chain and Base. The $SIGN token is used for incentives and governance within the ecosystem. 40% of the tokens are allocated to the community, and the TGE (Token Generation Event) airdrop accounts for 10%. Except for the airdrop, the remaining tokens will be released linearly on a monthly or quarterly basis for up to 5 years. The on-chain snapshot time is 12:00 (UTC) on April 25, 2025. In January this year, the Sign Protocol received a $16 million financing led by YZI, and the cumulative public financing amount has reached $28.65 million.