Morning Report | Perpetual Contract Trading Protocol Lighter Completes $68 Million Financing; ALLO Announces Token Economics; UNI Rises Nearly 40% in 24 Hours
Overview of Important Market Events on November 11整理：ChainCatcher
Important News:
- SoftBank to invest an additional $22.5 billion in OpenAI through Vision Fund 2 in December
- Perpetual contract trading protocol Lighter completes $68 million financing, led by Founders Fund and Ribbit Capital
- Banmu Xia: Bitcoin may form a platform adjustment structure, with two trading opportunities expected in the future
- ALLO Token Economics: Maximum supply of 1 billion, initial circulating supply ratio of 20.005%
- DBS collaborates with JPMorgan to develop a tokenized deposit interoperability framework
- U.S. Senate begins voting on the "2026 Continuing Appropriations and Extension Act"
- Uniswap Labs and Foundation propose to activate fee switch and UNI burn mechanism, UNI rises nearly 38% in 24 hours
What important events happened in the past 24 hours?
SoftBank to invest an additional $22.5 billion in OpenAI through Vision Fund 2 in December
According to ChainCatcher, SoftBank Group announced that it recorded an investment gain of 2.157 trillion yen from its investment in OpenAI. It will invest an additional $22.5 billion in OpenAI through Vision Fund 2 in December. (Jin Shi)
According to ChainCatcher, Lighter, a perpetual contract trading protocol, announced the completion of a new round of financing totaling $68 million, as reported by Fortune.
Vladimir Novakovski, the 40-year-old founder and CEO of Lighter, stated that this round of financing was led by Peter Thiel's Founders Fund and fintech investor Ribbit Capital, with participation from Haun Ventures and online brokerage Robinhood (which rarely participates in venture capital).
According to insiders, this round of financing has pushed Lighter's valuation to approximately $1.5 billion. Novakovski declined to disclose valuation details but mentioned that this round includes equity and token subscription rights.
According to ChainCatcher, Chinese crypto analyst Banmu Xia stated, "Bitcoin's market since August may be in a platform structure, and the current C wave may be a terminal wedge. This platform may constitute the entire adjustment's W wave. Around $108,500 to $110,000, there may be a high-risk-reward shorting opportunity. If the subsequent trend makes new lows around $95,000, it is expected to form a three-segment bottom divergence, combined with the complete end of the platform structure, which may open up a Y wave rebound, targeting a recovery above 0.7 of the W wave height, at which point there may be a good long opportunity. The above are predictions and need to be gradually verified in trading."
ALLO Token Economics: Maximum supply of 1 billion, initial circulating supply ratio of 20.005%
According to ChainCatcher, Binance announced the following ALLO token economics: maximum supply of 1 billion, initial supply of 200,050,000, and a total of 15,000,000 ALLO for HODLer airdrop (accounting for 1.50% of the maximum total supply). An additional 20,000,000 ALLO will be used for market activities six months after listing, with detailed rules to be announced separately.
Earlier, ChainCatcher reported that Binance's HODLer airdrop has launched its 58th project - Allora (ALLO).
DBS collaborates with JPMorgan to develop a tokenized deposit interoperability framework
According to ChainCatcher, The Block reported that Singapore's DBS Bank is collaborating with JPMorgan's Kinexys to develop an interoperability framework aimed at enabling tokenized deposit transfers between the blockchain ecosystems of the two institutions. This framework will allow customers to conduct real-time transactions around the clock between public and permissioned blockchain networks, breaking down barriers traditionally caused by limited interoperability and security risks.
Reportedly, customers using JPM's deposit token built on Ethereum Layer 2 Base will be able to interact with DBS's token services running on a permissioned blockchain. This collaboration is part of the global trend of financial institutions moving towards tokenization, with recent announcements from BNY Mellon and major UK banks including Barclays, Lloyds, and HSBC launching similar projects.
According to a BIS 2024 report, nearly one-third of surveyed jurisdictions' commercial banks have launched, piloted, or researched tokenized deposits.
U.S. Senate begins voting on the "2026 Continuing Appropriations and Extension Act"
According to ChainCatcher, Jin Shi data reported that the U.S. Senate has begun voting on the "2026 Continuing Appropriations and Extension Act," which aims to fund the government until January 30 and end the government shutdown.
Japanese Startale company launches super app for Sony's Soneium blockchain ecosystem
According to ChainCatcher, Startale Group and Sony's Blockchain Solutions Lab jointly announced the launch of the Startale App, an integrated super app designed as an entry point into Sony's Ethereum Layer 2 network Soneium and its ecosystem. This app will serve as a gateway for future token generation activities, airdrops, and Soneium ecosystem rewards.
According to the official announcement, multiple projects on the network plan to distribute airdrops, rewards, and exclusive experiences through this app. The announcement stated that the Startale app uses account abstraction technology, eliminating the need for mnemonic phrases, enabling gasless transactions, and simplifying wallet management to promote Soneium ecosystem activity. The app supports mini-program features, allowing developers to build applications directly on the network without a standalone website. The app is currently in closed testing, and the official launch date has not been announced.
YZi Labs announces investment in regenerative medicine company Renewal Bio
According to ChainCatcher, YZi Labs announced its investment in regenerative medicine company Renewal Bio, marking YZi Labs' first biotech investment since expanding its investment scope in early 2025.
Renewal Bio focuses on using its proprietary Stembroid™ platform to generate human cells and tissues that are DNA-matched to patients from their own cells, aiming to address the global organ shortage crisis. Over 150,000 organ transplants are performed globally each year, but less than 10% of the demand is met. Renewal Bio reprograms ordinary skin or blood cells into stem cells by simulating early human developmental environments, generating various functional cells, including hematopoietic, liver, heart, and pancreatic cells.
The company was co-founded in 2022 by Professor Jacob Hanna of the Weizmann Institute of Science and two of his doctoral students, Vladislav Krupalnik and Ohad Gafni. This round of financing will accelerate the preclinical development of Stembroid-derived hematopoietic stem cells for the treatment of leukemia and immune diseases and support the expansion of laboratory infrastructure.
According to ChainCatcher, The Block reported that Uniswap is planning to activate the protocol fee switch based on the "UNIfication" governance proposal submitted by Uniswap Labs and the Uniswap Foundation on Monday.
The plan aims to reduce the supply of Uniswap's native UNI token through mechanisms such as activating the burn mechanism. The "UNIfication" plan will take a multi-pronged approach to reduce token supply. On one hand, it will use protocol fees earned from the Uniswap decentralized exchange and Unichain sequencer to burn tokens; on the other hand, it will directly burn the existing 100 million UNI tokens in the Uniswap treasury, which were supposed to be burned after the fee switch was activated at the time of token issuance. Meanwhile, the proposal will prevent Uniswap Labs from earning fees through interfaces, wallets, and APIs, with its Ethereum frontend having accumulated $137 million in earnings. Currently, the fee ratio for token burning is unclear, but Uniswap's various versions are expected to generate annual revenues exceeding $2 billion. In addition to implementing plans to reward token holders, the "UNIfication" plan will merge the non-profit Uniswap Foundation with Labs, which is responsible for developing the protocol and Unichain L2.
Coingecko data shows that the current price of the UNI token is $9.01, with a 24-hour increase of 37.9%.
According to ChainCatcher, Jin Shi data reported that NVIDIA (NVDA.O) pre-market decline widened to 1%, with reports that SoftBank Group liquidated its NVIDIA holdings and cashed out $5.8 billion.
DAT inflow plummets 95%, company purchasing power significantly declines
According to ChainCatcher, as reported by beincrypto, corporate purchasing volume has sharply declined since Bitcoin fell from its peak. DeFiLlama data shows that weekly inflows into the Digital Asset Treasury (DAT) peaked at approximately $5.57 billion in July 2025 but fell to $259 million in November, a drop of over 95%, indicating a general decline in institutional purchasing power and confidence.
Latest data shows that the sell-off of DAT-related stocks far exceeds the decline of their underlying assets. According to Artemis statistics, Bitcoin has dropped about 10% in the past three months, while DAT-related stocks have seen declines of up to 40% to 90% during the same period.
Previously, Sequans Communications sold approximately $100 million worth of 970 Bitcoins (about 30% of its holdings) to repay convertible bonds, becoming the first treasury company to choose to sell crypto assets. In the current market environment where Bitcoin prices are under pressure, this has raised concerns about the sustainability of DAT strategies.
Analyst Nic Carter believes that as the dollar strengthens and Bitcoin weakens, digital asset management companies may sell Bitcoin in exchange for dollars.
Zhao Changpeng clarifies: Community rumors about his autobiography "Beyond Borders" are false, beware of AI scams
According to ChainCatcher, Binance founder Zhao Changpeng posted on social media regarding community rumors that "Beyond Borders" is his autobiography, stating, "This is not a book I wrote. Please beware of those using artificial intelligence for scams."
U.S. Treasury Secretary: New guidelines for cryptocurrency exchange-traded products released
According to ChainCatcher, U.S. Treasury Secretary Yellen stated that the Treasury Department and IRS have released new guidelines regarding cryptocurrency exchange-traded products.
The ETP guidelines provide a clear path for holding digital assets.
Data: 1011 insider whales increase long positions by over 10,000 ETH, position size rises to $180 million
According to ChainCatcher, Hyperinsight monitoring shows that insider whales have just increased their long positions by over 10,000 ETH, bringing their ETH long position size to 51,132 ETH, worth approximately $180 million, and they are still continuing to increase their positions through limit orders, with their 5x ETH long position currently showing a profit of $2.94 million (+8.62%), with an entry average price of $3,462.
Meme Popularity Rankings
According to the meme token tracking and analysis platform GMGN, as of November 12, 09:00,
The top five popular ETH tokens in the past 24 hours are: SHIB, LINK, PEPE, UNI, ONDO
The top five popular Solana tokens in the past 24 hours are: TRUMP, PENGU, MELANA, ME, DOOD
The top five popular Base tokens in the past 24 hours are: ZORA, VIRTUAL, USI, TOSHI, BRETT
What are some interesting articles to read in the past 24 hours?
CZ mass unfollows: Is the absurd "follow business" completely over?
On November 10, a comparison chart of X followers ignited discussions in the crypto community. Binance founder Zhao Changpeng (CZ) unfollowed over 300 people from his X account in less than two months, a number far exceeding the usual maintenance, seen as a precise cleanup, revealing a hidden yet once very active gray industry chain: accounts followed by CZ were once publicly traded for tens of thousands of dollars.
Burning is Uniswap's last trump card
Waking up, UNI surged nearly 40%, bringing the entire DeFi sector to rise.
The reason for the increase is that Uniswap revealed its last trump card. Uniswap founder Hayden released a new proposal, focusing on the often-discussed topic of the "fee switch." In fact, this proposal has been raised 7 times in the past two years, and is no longer new to the Uniswap community.
However, this time is different; the proposal was initiated by Hayden himself, and in addition to the fee switch, it also includes a series of measures such as token burning, and the merger of Labs and Foundation. Some large holders have already expressed support, and the probability of the proposal passing in the prediction market is as high as 79%.
On-chain finance, danger! Run away!
DeFi is once again at the center of attention.
As one of the most vital narrative directions in the industry over the past few years, DeFi carries the hopes of the cryptocurrency industry to continue evolving and expanding. I, who firmly believe in its vision, have been accustomed to deploying over 70% of my stablecoin positions into various on-chain yield strategies, willing to bear certain risks.
However, with recent security incidents and the gradual exposure of inherent issues that were originally hidden, a dangerous atmosphere now permeates the entire DeFi market. Therefore, I chose to consolidate the vast majority of my on-chain funds last week.
A complete guide for crypto KOLs on X: From profile optimization to ranking strategies
In this article, I will explain all 12 points in an extremely simple and understandable way, detailing how to achieve profitability on the X platform at zero cost, even without many followers or a big V account.
Even though Kaito's Yappers and previous information monetization models are about to become obsolete, the methods shared here can still help you continue to profit on the X platform. The gameplay may become outdated, but opportunities always exist. Even if you have few followers, those who start taking action now can still reap rewards.
Risk warning
Risk warning
