Blockchain Giants Make Moves: LayerZero Exchange Launch, Grayscale's Zcash ETF

LayerZero is planning to launch a blockchain-based exchange for financial institutions this fall. The new exchange, called Zero, will be built on LayerZero's own Layer 1 blockchain and will feature a dedicated trading environment.

The exchange will primarily cater to institutional investors and will have partnerships with major financial institutions such as Citadel Securities, the Depository Trust & Clearing Corporation (DTCC), and Intercontinental Exchange (ICE), parent company of the New York Stock Exchange.

Meanwhile, Grayscale has launched the Zcash ETF (ZCSH) on NYSE Arca. The ETF holds around 387,200 ZEC and has an expense ratio of 2.5%. For up to 12 months following its registration statement, management fee revenue will support Zcash ecosystem development and product marketing.

Ethena Foundation has announced four major ecosystem updates, including the buyback of remaining locked tokens from seed-round investors, a master framework agreement with Ethena Labs, a governance vote for the fee-switch proposal, and an agreement to release unvested tokens and eliminate future monthly sell-pressure from VC entities.

Lido has revamped its EarnETH fee structure, cutting the fixed management fee and raising the performance-linked payout. The new framework becomes performance-oriented and variable, capped at 0.5% AUM management fee plus 20% performance fee.