DA Labs

Introduction
DeFi has brought countless innovative financial tools and strategies to the cryptocurrency market, among which Pendle Finance's unique Yield Tokenization mechanism splits tokens into principal/yield components to satisfy different users' needs.
This article will help you understand the mechanisms behind Principal Tokens (PT) and Yield Tokens (YT) and the gameplay derived from liquidity pools, allowing you to create income and earn hidden airdrops in the DeFi space.
Introduction to Pendle Finance
Pendle Finance is a DeFi platform focused on splitting native yield tokens. Launched in 2021, the platform initially did not perform outstandingly. However, with the arrival of the airdrop point wave in 2024, Pendle quickly became one of the channels for users to participate in projects.

Introduction
With over $30 million in funding, supported by notable institutions such as Haun Ventures, Apollo, and YZi Labs, the RWA star public chain Plume Network has attracted market attention regarding when its mainnet will launch since its TGE in January this year. Now, after months of waiting, the Plume mainnet officially went live on June 5, simultaneously initiating the second season's airdrop reward program. This article will guide readers through what projects can be participated in after the launch of the Plume mainnet and how to position for early reward opportunities.
(Note: If you do not understand what the Plume Network project is, you can refer to DA Labs' previous research report: (Beyond Ondo and Centrifuge: Why Giants Are Competing to Layout Plume Network?))

Introduction
The European Central Bank (ECB) decided on interest rates on Thursday evening Taiwan time, cutting each of the three major rates by 25 basis points, with the deposit rate lowered from 2.25% to 2%, close to the neutral rate. This marks the ECB's eighth consecutive interest rate cut in the past year, primarily due to controlled inflation and concerns that tariffs could negatively impact the future of the European economy. President Lagarde indicated that the Eurozone's rate-cutting cycle has reached its end, which also provides strong support for the Euro.
Once this news broke, Bitcoin rose by 4.38% from $101,039 by Friday. Historically, it is clear that when interest rates are lowered and market liquidity increases, the cryptocurrency market generally benefits, and this time, the European Central Bank's interest rate cut is no exception. Besides that, this article will help you understand the current state of the European economy, future interest rate cut expectations, and the surprising discovery that BTC has a positive correlation with the Euro.

Introduction
As data on cooling inflation was released, the market briefly welcomed the dawn of a policy shift. However, this light cannot penetrate the fog of global political and economic uncertainty. The political gamesmanship in an election year is heating up, fiscal pressures are continuously mounting, and trade conflicts are brewing, causing the already fragile market sentiment to become conservative again. When risks loom over the future, funds are quietly shifting towards safe-haven assets like gold, seeking the next stable foothold.
Inflation Trend: Both CPI and PPI are cooling down.
U.S. CPI data for May unexpectedly weakened, further reinforcing the trend of easing inflation. The overall monthly increase in CPI was only 0.1%, lower than the expected 0.2%; the annual growth rate was 2.4%, although higher than the previous value of 2.3%, it is still lower than the market estimate of 2.5%. The core CPI also rose only 0.1% month-on-month, far below the expected 0.3%, indicating that internal price pressures have significantly eased.

Preface
This week, the market focuses on whether BTC will enter a false breakout structure at the weekly level again. Since hitting a record high of $111,600, the closing price has fallen back below $109,800, forming a 2B rule structure, which is exactly the same as the starting point of the broken bull market structure in 2021. If it cannot effectively stand back in the pressure zone in the next few weeks, the continuation of the bull market will face major challenges. At the same time, ETH is also facing the pressure of 2,900 and has failed to break through. The bull trend is in jeopardy, and the overall market structure has once again reached a critical junction.
Tether
USDT Market Share
Continuing from last week’s analysis, this week we will use another angle to judge the possible trend of USDT’s market share. First, on the TV chart, we can choose to change the presentation of the chart from K-line to line chart. Generally speaking, the line chart records the price trend between each opening and closing. Compared with the K-line, the opening and closing are easier to see the pattern or important support and resistance. As shown in the figure above, the upper left corner is compressed, forming a triangular convergence, while the lower right corner is an oscillation range with an obvious support and resistance conversion (yellow line). In terms of trend, the current market share of USDT has rebounded slightly after encountering support. If a clear bottom is formed on the yellow line in the future, it is expected to continue to rise.

Introduction
Recently, the airdrop has surged due to Kaito's rise, bringing a new wave of Yapping trends. Many projects allocate high airdrop rewards to community building and text creators. For instance, recent Huma Finance and Soon have provided Kaito Yappers with average airdrop benefits of over a thousand dollars. I also received a $2300 text creation airdrop in the first quarter of $HUMA last week. So what clear Yapping opportunities does Kaito have today? This article will reveal them one by one and introduce the key points and creation suggestions of the projects.
What is Yapping? Can text creation also yield airdrops?

Preface
On May 27, 2025, the U.S. Treasury Department reduced the auction size of four-week and eight-week Treasury bills for the first time since February this year, reducing them by $10 billion to $75 billion and $65 billion respectively, while the 17-week Treasury bill remained unchanged at $60 billion. This move may seem like a technical adjustment on the surface, but it is actually a defensive fiscal operation in response to the pressure of the debt ceiling, marking the federal government's financing entering a tightening phase.

Figure 1: Short-term Treasury bill auctions shrink in size (Source: Bloomberg)
Unconventional measures are reaching their limits, X-Date is coming
At the beginning of this year, the United States exceeded the statutory debt ceiling, and the Treasury Department was forced to launch extraordinary measures to avoid technical default. By the end of April, most of the extraordinary funds had been used up. The latest data showed that on May 21, only $67 billion of extraordinary measures were available in addition to cash, which was further reduced from $82 billion a week ago. The flexibility space was sharply reduced, and fiscal operations entered the final stage.

Preface
Recently, Huma Finance distributed a large number of airdrops to Kaito Yappers and $KAITO pledgers, once again arousing a wave of InfoFi craze. Taking advantage of this momentum, Cookie.fun and Galxe Starboard were launched one after another within a week, officially participating in the competition of the InfoFi platform, and forming a three-legged situation with Kaito.
But compared with Kaito, what are the characteristics and advantages of Cookie.fun and Galxe Starboard? And what opportunities are there to participate? This article will integrate the detailed information of the two, introduce the activities that can be participated in currently, and compare them with Kaito.

Introduction
Binance launched the Alpha 2.0 feature in 2025, allowing users to purchase on-chain tokens directly on the exchange. Since then, they have also periodically airdropped tokens to eligible active users. For users who strive to accumulate trading volume, they can average a profit of 100 USDT each period, which is quite a generous reward. Since the scoring mechanism is public information, are there any potential profit opportunities behind it? This article will guide you on how to participate in liquidity pools with annualized returns exceeding 300% using Alpha tokens, allowing you to seize profitable opportunities that are rarely known in advance.
If you still don't know what the Binance Alpha market is, you can read: (What is Binance Alpha? Changes and investment opportunities from Binance Alpha 1.0 to 2.0)

Once a week, we help you sort through the most noteworthy events in the market. We not only track trends but also focus on the underlying logic and narratives. In the information explosion of the crypto market, DA Labs refines opinions for you, highlighting content that truly impacts your decision-making and understanding.
Market Perspective
FTX payment initiates second round of repayments

On May 30, 2025, according to Cointelegraph, the FTX bankruptcy restructuring trust fund (FTX Recovery Trust) initiated the second round of repayment distribution totaling over $5 billion for eligible creditors.
This repayment is directed towards clients who have completed the pre-allocation requirements, covering Dotcom, US clients, and other categories of creditors. The trust announced on May 28 that Convenience Claims will receive a 120% return amount, while other categories will receive different levels such as 72% or 54%.

Introduction
In the cryptocurrency market, the liquidity of stablecoins is always a highly valuable reference indicator, with USDC (ERC20) being a typical representative. Observing the net inflow (Netflow) to exchanges can effectively predict subsequent market trends.
This article will use the USDC (ERC20) Netflow indicator from the on-chain tool CryptoQuant to set three clear conditions and conduct a historical backtest with TradingView, demonstrating its relationship with price, thereby seeking potential trading opportunities.
We found that when specific conditions are met, BTC usually shows a significant and sustained upward trend, which can assist traders and investors in making more precise judgments.

Introduction
The Stablecoin Bill (GENIUS Act) passed its initial vote in the U.S. Senate on May 19. The contents of this bill have been detailed in this research report (The Stablecoin Bill Controversy: From Trump's USD1 Controversy to Meta's Entry into Stablecoin Payments). This article will compare the existing mainstream stablecoins and the challenges they face under this regulatory framework, subsequently highlighting some investment opportunities that retail investors can engage in through stablecoins.
(GENIUS Act) Impact on Decentralized Stablecoins
The Stablecoin Bill (GENIUS Act) mainly has the following regulations for stablecoins:
Stablecoins need to be pegged 1:1 to reserves

Preface
Driven by the dual forces of information and community economy, Kaito has been leading the trend of attention economy. These InfoFi tools have not only become a powerful tool for us to score during surveys, but also provide solutions for information integration and value distribution. Many airdrops even provide high rewards to community contributors.
Following the successful demonstration of Kaito, similar Dapps have sprung up in various chain ecosystems. This article will introduce and compare various InfoFi chains such as GiveRep, Ethos and Fantasy, integrate and recommend readers how to kill two birds with one stone, and experience the interesting gameplay of InfoFi and the benefits beyond airdrops.

Preface
As the current GameFi market is highly competitive, TOFU Story, a game that combines classic gameplay with innovative elements, was launched this month and has now officially started closed beta testing! TOFU Story combines the familiar 2048 math game with the cute and healing "Tofu Pet" development system, allowing players to not only experience the fun of brain calculations while playing, but also experience the sense of accomplishment of developing pets and earning points.
Not only that, TOFU Story has prepared rewards of up to NT$30,000 for closed beta players during the closed beta period. During the event, TOFU Story Line exclusive stickers and 69 sets of NT$100 gift certificates will be drawn every day, giving every participant a chance to win gifts. Now follow the author's instructions and experience the features and fun of TOFU Story together!

Preface
Bitcoin has completed three upward attacks at the daily level and successfully set a historical high. However, the momentum of the three waves of pushing has obviously decreased, and the price has remained at a high level for a long time. If there is no relay consolidation or chip recovery, it may turn into a distribution structure in the future. Although Ethereum has shown short-term explosive power, the daily pressure zone has not been effectively broken through and is close to the key level of 2,738. We need to be wary of liquidity hunting. Although the bullish atmosphere remains this week, risk signals have been released one after another.
Tether
Tether Prints Money
On 2025/05/21, Tether minted 2B worth of USDT on the Tron chain, and the funds were subsequently transferred to Kraken, Bitfinex, and Binance exchanges.

Once a week, we will take you through the most noteworthy things in the market. We not only track trends, but also pay attention to the logic and narrative behind them. In the crypto market with explosive information, DA Labs refines opinions for you and leaves you with content that truly affects your decision-making and understanding.
Market
Primary Market Dynamics
This week, there were a number of major project developments in the primary market, reflecting the ecosystem’s continued investment in development and innovation. First, the World Network blockchain project led by Sam Altman successfully completed a private round of financing, raising approximately US$135 million. According to CoinDesk, this round of token sales was led by well-known venture capital institutions Andreessen Horowitz (a16z) and Bain Capital's crypto department.

Introduction
It seems that in recent weeks, there has been a rhythm of "one week of consolidation, one week of rise". After last week's consolidation ended, BTC surged to create an ATH this week.
Let's take a look at this week's "#Top Escape Weekly Report" content!
URPD
Currently, the accumulation above 93K is 4,230,613 coins.
Starting this week, as the price has been above 100K for some time, we have shifted to monitor the accumulation increment above 93K.
In the past seven days, there haven't been many noteworthy signals on URPD, most are chip games and transfers within the range (above 93K).

Preface
Recently, Moody's became the last of the three major rating agencies to kick the United States out of the "AAA club". The downgrade did not surprise the market. What is more intriguing is that while Moody's downgraded the rating, it also turned its outlook to neutral. On the one hand, sovereign credit is downgraded, while on the other hand, the risk outlook has stabilized. What signal is hidden behind this? The question is: How can this beautiful country, with its off-the-charts fiscal deficit, daily political quarrels, and almost annual government shutdowns, still give rating agencies a glimmer of hope?

Overview of MapleStory N since its launch
Since its official launch on May 15, MapleStory N has been highly discussed, with most players exploring how to quickly farm gold to pay for high enhancement costs, how to quickly collect NFT collections to enhance character capabilities, and even comparing it with the nostalgic version Artale. So how has MapleStory N performed since its launch? We can start analyzing from the game performance.
Player Population and Community
Since the launch of MapleStory N, nearly a week has passed. According to my observations on server AIN, popular maps below level 100 still have players in all channels. Even on weekday evenings and weekends, there are instances of 3 to 4 players competing for maps simultaneously.

Preface
BTC's daily trend structure further deepens the PO3 performance, with high open interest stacking and a low long-short ratio, indicating that current long-side capital is still concentrated. However, the market conditions are edging towards distribution, and it is necessary to observe whether signs of rhythm interruption and high-level consolidation with volume expansion occur. In the case of ETH, it steadily advances toward the mid-term pressure zone. If it cannot successfully break through with volume expansion, the structural performance may shift to a liquidity hunting zone, forming a stage high.
Tether
Tether printing

The above image shows the history of USDT minted on the Tron chain
On 2025/05/15, Tether minted USDT worth 1 billion on the Tron chain, and then the funds were transferred to Kraken, Bitfinex, and Binance for trading.