Bio Protocol: XP Point Fix Program Deployed, Correcting Points Missed Over the Past Few Days
On September 2nd, Bio Protocol announced an XP Distribution Update. This was due to a significant increase in stakers, which led to backend timeouts and an uneven distribution of points. The team has now implemented a fix, and today's distribution has been successfully completed. The team will reprocess all operations to address any point discrepancies from the past few days, ensuring that all XP is accounted for.
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Nearly 600 Economists Call for Defending Federal Reserve Independence, Co-sign Open Letter in Support of Powell
September 2nd: After U.S. President Trump attempted to dismiss Federal Reserve Board Governor Lisa Cook due to suspicion of mortgage fraud, a significant number of prominent economists have expressed support for her. Nearly 600 economists have signed an open letter in favor of Cook, indicating that the bar for removing a Federal Reserve Board member is extremely high, and elected officials should refrain from taking actions that undermine the Fed's independence. The open letter was released on Tuesday and its signatories encompass Nobel laureates Claudia Goldin and Paul Romer, the former chair of the Obama administration's Council of Economic Advisers Christina Romer, as well as Ohio State University professor Trevon Logan, who co-authored a paper with Cook. (Golden Finance)
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SOMI experienced a brief surge after being listed on Binance Spot, reaching $0.66 before retracting to the current price of $0.44.
On September 2nd, Somnia (SOMI) saw a brief spike after being listed on Binance's spot trading. It reached $0.66 and is currently trading at $0.44. The current market capitalization is $70 million, and the fully diluted market capitalization is $450 million.
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Binance will adjust the SOMI U Index Perpetual Futures Contract's minimum price movement.
On September 2nd, as per an official announcement, Binance is going to adjust the minimum price movement of the SOMIUSDT U perpetual contract at 23:45 (Beijing time) on September 2, 2025. It will be changed from 0.001 to 0.0001.
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SonicStrategy Announces $40 Million Investment Commitment from Sonic Labs
On September 2nd, the Canadian listed company SonicStrategy Inc. (with the code on the Canadian Securities Exchange: SPTZ) announced that it has received a $40 million investment commitment from Sonic Labs. The investment will be delivered and convertible debt instruments will be issued within 5 working days. This funding is planned to be used for expanding the team, promoting product development, and accelerating market expansion.
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Analysis: Ethena Moves Closer to Protocol Fee Sharing Plan, USDe Supply Reaches All-Time High of $12.43 Billion
On September 2nd, in the past month, the supply of USDe has witnessed a remarkable 42% surge and reached a historical high of $12.43 billion. The protocol revenue has also attained its highest level since the start of the year, exceeding $61 million in August. Currently, USDe ranks as the third-largest USD stablecoin, trailing only behind USDT and USDC. Additionally, Ethena has emerged as the fifth-largest DeFi protocol in terms of deposit size. The current market attention is centered on Ethena's fee conversion plan, where ENA governance token holders are soon to have the first opportunity to receive a portion of the protocol's profit.
Ethena Labs had previously set three milestones that need to be fulfilled before the activation of the protocol's fee switch:
- The circulating supply of USDe needs to surpass $6 billion.
- The protocol's cumulative revenue needs to reach $250 million.
- The USDe token must be integrated into four of the top five centralized exchanges in terms of deriv
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