Weekly Bonzo Bytes 🎙️🐵

The Spaces discussion centers around recent updates and developments within the Bonzo Finance ecosystem, community advancements on the Hedera network, and broader industry news. The speakers cover issues such as technical difficulties with Discord, upcoming audits and integrations for Bonzo Vaults, and the thriving performance of Bonzo's Total Value Locked (TVL). Additionally, there is a discussion about Dovu's achievements in tokenizing ecological assets and the potential regulatory impacts of the recent Genius Act passed in the US Congress, focusing on stablecoins and digital finance legislation.

Bonzo Bytes Meeting Summary

Introduction

The session is part of the Bonzo Bytes series, which is organized in three sections: Bonzo Updates, Hedera and Community News, and Market and Industry News.

Bonzo Updates

Discord Console Issues

• Speaker 2 noted that the Discord console process is facing challenges due to network overload and issues with the SDK. Expected resolution by Monday.
• A new verbal channel has been created for Discord community members who enjoy playing games like Wordle.

Vault Updates

• Speaker 2 announced that audits for Bonzo’s vaults are finishing next week. They are in the final testing stages of contracts on the mainnet with audits conducted by Alborn.
• Front-end integration is progressing well with the launch expected soon.
• Speaker 1 mentioned excitement about vaults as they expand Bonzo’s reach, providing yield opportunities and automated strategies within the Hedera ecosystem.

TVL Achievements

• Bonzo reached a TVL of up to $65 million with 236 million HBAR locked. Stablecoin volume is also at a significant volume of $10 million USDC.

Market Position

• Bonzo is ranked No. 48 across all lending protocols and No. 3 on Hedera.
• Hedera TVL is approximately $143 million, with Bonzo contributing a substantial portion.

Hedera and Community News

Trust-Based OS Launch

• A new system called Doz, described as a trust operating system supporting multiple systems including AI agents, has launched.

Community Support and Ecosystem Engagement

• Speaker 4 from Dovu highlighted the importance of tokenization for ecological assets, mentioning a $1 billion carbon credits contract on Hedera.

User Onboarding Initiative

• A new initiative involving the Hedera Token (HTE) is launching to onboard over 20 million users through partnership with platforms such as Cash Tree, Mars Labs, and Berry Fox.
• A hackathon is planned focusing on AI, real-world asset tokenization, and sustainability projects.

Market and Industry News

Legislation Impact

• A new crypto legislation focused on stablecoins has passed the US Congress with bipartisan support, viewed as positive for stablecoin adoption and US dollar dominance.

Circle Developments

• Circle applied to become the first US digital currency bank, planning to manage USDC reserves and tokenize Treasuries.

Closing

The meeting concluded with Q&A, discussing documentation for vaults, fees structure, and accessibility of tokens in the ecosystem. The session closed inviting participants to join future discussions via Discord.