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Zhu Su crypto platform OX.FUN reaches cooperation with ORA, with an annualized mining yield of 2000% OX.FUN, the crypto trading platform of Zhu Su, the former co-founder of Three Arrows Capital, announced a strategic partnership with ORA and officially joined the ORA Web (3,3) smart network ecosystem. The OX/ORA dual-currency Axon has been officially launched, and LPs can receive ORA mining incentives by providing liquidity. Zhu Su posted on the X platform that due to ORA incentives, the current OX/ORA annualized rate of return (Apy) has reached 2000%. Driven by the news of the cooperation, ORA's intraday increase reached 13.3%, and is now at $0.76. At the same time, OX holders will receive ORA rewards in the future, further binding the ecosystem for common growth.

A certain Smart Money opened a 3x HYPE long position at $12.93, with a unrealized profit of over $13.41 million.

Alchemy acquires NFT launchpad HeyMint to expand its 'smart wallet' services

Decentralized finance protocol Hyperliquid submitted formal responses to the U.S. Commodity Futures Trading Commission’s recent requests for comment on perpetual futures and 24/7 trading. In a May 22 Medium post , the Hyper Foundation said it submitted two letters to CFTC to help shape emerging U.S. regulatory frameworks. The team described how Hyperliquid’s ( HYPE ) onchain system already manages trading 24/7 while upholding strong risk controls, user security, and openness. According to Hyperliquid, its platform lowers risk by utilizing pre-funded collateral and automatic liquidations. The system is more open and resilient than traditional markets because trading occurs continuously and all trades, margin adjustments, and liquidations are visible to the public onchain. Hyperliquid noted in its remarks on perpetual derivatives that these crypto-native products are already in use and provide advantages like improved liquidity, no rollover requirements, and simpler smart contract integration. Rather than trying to force new products into outdated categories, the team urged the CFTC to adopt a flexible regulatory approach that prioritizes risk and user safety. The CFTC’s request for comment, which closed on May 21, was aimed at understanding how these fast-growing crypto markets work and whether new rules are needed. No new regulations have been announced yet, but the agency may take action in the future. With almost 70% in monthly trading volume share among decentralized perpetuals platforms, Hyperliquid has emerged as a market leader. In May, the platform also reached all-time highs for USD Coin ( USDC ) total value locked at $3.2 billion, fees at $5.4 million, and open interest at $8.9 billion. HYPE is up 85% in the past 30 days, and has risen almost 500% from its April lows. The team said it hopes to continue working with regulators and sees Hyperliquid as a working example of how DeFi can improve modern markets.

Enjin Blockchain has added testnet support for stablecoins USDC and USDT, enabling their use within its NFT and gaming ecosystem via Hyperbridge. Stablecoins are heading to Enjin Blockchain, with USD Coin ( USDC ) and Tether ( USDT ) now live on Hyperbridge’s testnet in a move the team says will unlock cross-chain utility. The upgrade uses Enjin’s MultiToken Pallet, which supports the creation and transfer of many types of tokens, including stablecoins, the team said in a Thursday blog announcement. The pallet is part of Enjin’s Substrate-based blockchain architecture and underpins features such as the on-chain marketplace, NFT minting, and SDK/API access. The testnet setup lets users lock their USDC or USDT on Ethereum or BNB Chain, then Hyperbridge steps in to confirm the action and helps mint a matching stablecoin version — called a multitoken — on Enjin Blockchain. The team said that locking the original token in a Hyperbridge vault happens in a “decentralized, user directed manner,” adding that the process doesn’t involve Enjin’s apps or platforms and is fully managed by Hyperbridge smart contracts and relayers. The team said that once minted, the multitokens work just like any other token within the Enjin ecosystem, and noted that many games and platforms on Enjin Matrixchain already support NFTs and similar features. They added that the system is designed to maintain a 1:1 link between the original stablecoin and its multitoken version on Enjin. According to the team, both the locking and minting steps are publicly verifiable and can be audited. To get the original token back, users can burn their multitokens on Enjin, which triggers a reverse process to unlock the original asset. The new testnet support builds on Enjin’s broader push to grow adoption of its own blockchain, which launched in September 2023 as a custom network built on Polkadot’s Substrate framework. In December 2023, the team completed a major migration, moving 200 million NFTs to its mainnet to encourage usage of its network. The campaign allowed users to claim their assets on the Enjin Blockchain using an updated Enjin Wallet.