RaaS #407: VIRTUALS Staking Goes Live!

Kaito Contract Termination With Web3Port, Morpho Intros "DeFi Mullet": GM Web3

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Radarblock xyz
May 14, 2025

EigenDA V2 Live, Hivemapper Partners With Lyft, and Moar!

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Kaito ended its market-making deal with Web3Port just 10 days after its Feb 2025 TGE, citing misalignment on price stabilization goals. The Kaito Foundation has since focused on token buybacks, avoiding sales, amid wider concerns over market-making practices and price manipulation risks.

Morph, L2 backed by Bitget, raised $20M in March 2024 but soon unraveled due to founder disputes, lavish spending, and the influence of a “shadow CEO,” Forest Bai. Co-founder Azeem Khan exited in 2025. The project now faces delays, layoffs, and a stalled Series A fundraise.

Morpho Labs’ “DeFi Mullet” merges Coinbase’s fintech UX with Morpho’s DeFi backend, enabling crypto-backed loans using cbBTC as collateral without blockchain friction. Since January 2025, it has reached $400M in collateral, $178M in loans, and 5,595 users, showcasing strong demand.

Addressable spotlights Canada’s 2025 crypto market: 3.7M users, $662B volume, strong on renewable energy and regulation. Cost Per Wallet (CPW) is $3.12, with 72% male and 28% female users. 78% access via mobile.

EigenDA V2, live on Ethereum testnets, delivers 50 MB/s throughput (250K ERC20 transfers/sec), surpassing Visa. It uses GPU erasure coding and horizontal sharding for scalable, low-latency data availability. Backed by 14 global operators, it supports payments, gaming, and AI rollups.

Is this the sign, lawd?

PIN AI will host Solana Foundation President Lily Liu on May 16, 2025, to discuss crypto market cycles. The episode is part of PIN AI’s series with industry leaders, offering insights into crypto volatility and market patterns, which are key for informed investing amid ongoing market shifts.

Hivemapper partners with Lyft to supply real-time, street-level map data, using Bee devices to turn vehicles into mapping tools. This enhances Lyft’s navigation and user experience. The move follows Lyft’s 2024 collaboration with HERE Technologies to improve location services and ETAs.

Top Gainers: BBT, SURE, DNTRN, ERN, TDCCP.

Rubic, a cross-chain bridge and DEX aggregator, recorded $433M in trading and 1.6M transactions in Q1 2025, marking 91% and 144% QoQ growth. Its roadmap focuses on chain abstraction, user experience improvements, and enhanced developer tools to drive further adoption.

Soul is a decentralized omnichain liquidity layer that unifies lending across protocols like Aave and Compound. Acting as middleware, it boosts capital efficiency and reduces liquidity fragmentation, offering users a secure, flexible gateway for multi-chain DeFi lending.

Virtuals Protocol has launched VIRTUAL staking. Users can lock tokens to earn veVIRTUAL, gaining governance rights and 20% of Virgen Points. Early stakers within 24 hours get access to a special surprise. Users who opt for auto max-lock for 2 years receive maximum rewards and are incentivized for long-term alignment.

That’s all for today, see ya later!