According to @jessepollak, the crypto landscape is seeing significant infrastructure development alongside critical warnings from industry leaders. A new TON-based money market protocol, Affluent, aims to transform Telegram into a DeFi 'super app' by offering lending and yield strategies through a mini app, as stated in an announcement. In a significant development for Bitcoin (BTC), the EVM-compatible Layer-2 network Botanix has launched its mainnet, promising to reduce block times to five seconds and enable Ethereum dApps on the Bitcoin ecosystem. Similarly, Ripple has officially launched the XRP Ledger's (XRPL) EVM sidechain on mainnet, allowing developers to deploy Ethereum-based applications using XRP as the native gas token. These developments come as Ethereum (ETH) co-founder Vitalik Buterin issued a stark warning at EthCC, arguing that the ecosystem is at risk if decentralization remains a mere catchphrase and projects fail security tests against insider attacks and centralization. Furthering institutional involvement, Robinhood (HOOD) is building its own Layer-2 network on Arbitrum for tokenized assets, and Deutsche Bank (DB) plans to launch a crypto custody service.

According to @danheld, the Bitcoin Layer-2 network Botanix has launched its mainnet, a significant development for the Bitcoin (BTC) ecosystem. The network is designed to be fully compatible with the Ethereum Virtual Machine (EVM), enabling developers to port Ethereum-based applications directly onto Bitcoin. This launch dramatically reduces block times from the standard 10 minutes to just five seconds, potentially increasing transaction throughput and enhancing the user experience for Bitcoin DeFi (BTCFi). The project aims to unlock the vast liquidity of BTC for decentralized finance applications. Botanix is launching with a decentralized governance structure supported by 16 node operators, including prominent firms like Galaxy Digital and Fireblocks, which adds a layer of security and trust for potential investors and users. In conjunction with the mainnet, new BTCFi products have also debuted, such as the BTC-backed stablecoin Palladium and the decentralized exchange Bitzy, creating new trading and yield opportunities within the Bitcoin ecosystem.