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Howdy!

Everybody, be cool, this is a robbery!

Today's edition of Lightspeed has been hijacked by our 0xResearch sister newsletter — your daily fix for market highlights, data-backed trade ideas, governance tea, token performance drama and deep onchain intel.

Macauley's at the helm today, digging through the data to unpack the trending signals and architectural pivots defining today’s crypto landscape.

You asked. He answered. Nobody move.

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Signals and noise

1. BOB (Build on Bitcoin) just deployed a first-of-its-kind rollup that uses zero-knowledge proofs for fraud resolution within an optimistic rollup framework. 

Built with OP Kailua, a new OP Stack extension by RISC Zero and Boundless, the system enables cheaper, faster fraud challenges — finalized in minutes rather than days.

This novel approach could catapult BOB to Stage 1 and Stage 2 status on L2Beat, setting a new bar for trust-minimized Bitcoin DeFi. Anyone can challenge a transaction with just 0.5 ETH, drastically lowering the entry point for rollup participation. It’s a breakthrough that combines zk finality with the accessibility of optimistic design.

2. Optimism’s Upgrade 16 just went live — and not a moment too soon. 

L2Beat is preparing to downgrade any rollup lacking robust fraud-proof governance back to Stage 0 status. The upgrade enables native cross-chain messaging and new bridge contracts, plus a higher gas ceiling (from 200m to 500m) to accommodate rising demand. With chains like Base and Ink relying on the OP Stack, preserving Stage 1 classification is critical. 

If Superchain wants to lead, decentralization can’t remain theoretical. It has to get real.

3. In truly-the-funniest-outcome news, Dogecoin devs are floating a radical idea: integrate zero-knowledge cryptography directly into the base chain via a system dubbed DogeOS. The goal is to make Dogecoin more than a meme by enabling verifiable computation and smart contract-style capabilities. 

If adopted, DogeOS would be one of the first native zk enhancements on a major proof-of-work chain, bringing new utility to a network historically known more for vibes than engineering prowess.

The proposal’s still in early stages, but it marks a notable shift toward tech seriousness in the Doge ecosystem.

4. Anchorage Digital and Ethena Labs are teaming up to launch the first stablecoin built specifically for the US under the new GENIUS Act. USDtb, currently issued offshore, will now be minted by Anchorage’s federally chartered crypto bank.

Anchorage’s stablecoin platform is designed for institutional-grade compliance and programmability, and Ethena’s USDe has already become the third-largest stablecoin in DeFi by TVL. With this move, USDtb becomes a vehicle for mainstream financial integration, in addition to its DeFi-native appeal.

5. Polymarket acquired QCEX, a CFTC-registered exchange, effectively clearing a regulatory path into the US market. For longtime observers, this was inevitable. 

“Prediction markets are gradually reshaping how people engage with real-world events,” Chiliz’ Max Rabinovitch told Blockworks. 

Sports betting is a huge opportunity for the onchain prediction market, particularly after provisions in the giant spending bill nicknamed the “One Big Beautiful Bill Act” stand to neuter professional sports gambling. As regulatory clarity improves, Polymarket and others could bridge traditional markets with decentralized prediction infrastructure.

6. Centrifuge just launched v3 across six chains (Ethereum, Base, Arbitrum, Avalanche, Plume and BNB Chain), creating the most interoperable RWA infrastructure to date. Powered by Wormhole, this version enables fund managers, DAOs and fintechs to launch fully customizable onchain products with native chain abstraction. The platform has already secured a $1b allocation from Janus Henderson via Grove. With v3, Centrifuge is bridging DeFi-native capital and institutional-grade financial products in one unified stack.

7. A new L1 from ex-Citadel and Jump traders has gone live with a 40ms block time and a fully integrated trading stack. 

Built on SVM with enshrined dapps like Ambient and Fluxbeam, Fogo positions itself as a performance-maximized, Hyperliquid-style platform — but ostensibly without sacrificing decentralization. 

While the tech stack is fresh, the competitive field is anything but empty. Newcomers like Lighter, Ostium, Reya and Main.Exchange all want a piece of the perps pie. Fogo’s bet? That TradFi-grade latency and native infra will pull top traders into its orbit.

8. 2017-era ICO darling VeChain is reintroducing itself to the world with a $15m staking program and a suite of TradFi partnerships. BitGo is onboard for custody, Franklin Templeton is integrating BENJI and validator management now includes Keyrock. 

The newly launched StarGate staking system uses NFTs to simplify compliance and reward participation — right as the SEC is pondering staking clarity. It’s all part of VeChain’s “Renaissance” upgrade aimed at modernizing tokenomics, improving developer UX and getting institutions back onchain. 

Can a legacy L1 regain relevance in the age of limitless appchains and well-funded competitors? Watch this space.

9. GameSquare (Nasdaq: $GAME) has acquired CryptoPunk #5577 — the “Cowboy Ape” — from Robert Leshner in a $5.15m equity deal. It’s the first NFT-for-equity treasury play by a public company, and part of GameSquare’s larger strategy is to integrate digital assets across brand, treasury and yield products. 

Leshner, meanwhile, has recently attempted a contested takeover of Liquor House (LQR), which stalled after a poison pill defense. 

With this move, he exits one of the most iconic Punks and joins GameSquare’s cap table instead.

— Macauley Peterson

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