Golden Web3.0 Daily | Zero Network Announces Upcoming Shutdown

DeFi Data

1. Total Market Value of DeFi Tokens: $62.8B

DeFi total market value Data source: coingecko

2. Trading volume of decentralized exchanges in the past 24 hours: $8.09B

Trading volume of decentralized exchanges in the past 24 hours Data source: coingecko

3. Assets Locked in DeFi: $1.31B

Top ten DeFi projects by locked assets and locking volume Data source: defillama

NFT Data

1. Total NFT Market Value: $1.57M

NFT total market value, top ten projects by market cap Data source: Coinmarketcap

2. 24-hour NFT trading volume: $104B

NFT total market value, top ten projects by market cap Data source: Coinmarketcap

Headlines

Zero Network Announces Upcoming Shutdown

On May 22, Zero Network announced it will cease operations. Zerion’s gas-free Ethereum Layer 2, launched at the end of 2024, will stop service after 18 months of operation. The team stated they will reallocate resources to their core wallet and API projects, which have a greater impact on users. Asset security is assured; cross-chain deposit functions have been suspended, and users must complete asset withdrawals by the end of July.
The project’s current TVL is about $1.4 million, with minimal daily activity. Amid the challenging environment faced by small L2 projects due to lack of sustained growth momentum, it joins an expanding list of shutdown protocols including Everclear. The market impact is expected to be minimal.

AI Hot Topics

1. Insiders: CATL Plans to Invest in DeepSeek

On May 22, two insiders revealed that CATL intends to participate in the funding round of domestic AI company DeepSeek. As this investment materializes, CATL is actively expanding its business by selling power supporting equipment to AI data centers. Insiders said the first round of funding aims to raise about 50 billion RMB (approximately $7.35 billion), with completion possible as early as next month.
Earlier reports indicated that after this funding round, DeepSeek’s valuation could surpass 350 billion RMB (about $51.4 billion). Related parties said JD.com and NetEase are also in talks to invest, but no final decisions have been made. Negotiations are ongoing, and details such as investment amounts and participants may still change.

2. Intel Launches Hybrid “Lobster” Solution Claiming Up to 70% Cost Savings on Cloud Tokens

On May 22, facing rising AI costs, Intel announced the “SuperClaw” hybrid intelligence solution, which uses edge chips to handle high-frequency and sensitive data tasks while maintaining access to cloud models for advanced inference and external data retrieval. The announcement states that this approach can save up to 70% of token consumption in enterprise AI workflows. Intel said a beta version of SuperClaw will be available for download in late June.

3. Reports: Chinese Regulators Require Listed Companies to Disclose AI Relevance; Funds Must Reveal Valuation Methods

On May 22, the AI boom has recently driven A-shares higher. Bloomberg cited insiders saying Chinese regulators are requiring some listed companies and funds to provide AI-related information. The Shanghai and Shenzhen stock exchanges have recently asked multiple listed companies to clarify whether their core businesses are substantively related to AI and whether their investor disclosures are sufficiently clear. Regulators are questioning some ETFs heavily invested in AI-related sectors and other fund managers, demanding disclosure of valuation methods and proof of asset reasonableness. It is also reported that regulators asked these funds how they plan to address the risks arising from the widening gap between high valuations and corporate profits.
Since early April, the Sci-Tech Innovation Board 50 Index, which has a high proportion of tech stocks, has continued to surge, with an increase of about 50% so far.

4. Tencent Cloud: 46 Old Versions of Tencent’s Mixin Large Model Platform HY2.0 to Be Decommissioned

On May 22, Tencent Cloud issued a notice regarding the decommissioning of old versions of Tencent’s Mixin models. According to the plan, 46 old models including Tencent Mixin Large Model Platform HY2.0, hunyuan-turbos, hunyuan-t1, etc., will be officially shut down at 00:00 Beijing time on June 22, 2026, and access to these models will be discontinued.

5. Korea Post Plans to Expand AI Data Centers and US/European Real Estate Investments

On May 22, Korea Post, which manages about 157 trillion KRW (approximately $1.04 trillion) in savings and insurance funds, is one of Korea’s most important long-term institutional investors. Under ongoing losses in traditional postal services, Korea Post is accelerating its shift toward high-yield assets, focusing on AI data centers, logistics facilities, and multi-family residential real estate in Europe and the US to improve overall investment returns. Korea Post has selected Blackstone and Madison International Realty as priority bidders to jointly manage a secondary market real estate fund of about $230 million.

DeFi Hotspots

1. Ethereum Accounts for 41.1% of the Tokenized Stock Market Share

On May 22, according to Token Terminal data, the total market cap of tokenized stocks has exceeded $1.6 billion, with Ethereum holding a 41.1% market share.

2. THORChain Releases Attack Recovery Plan, Node Operator Voting Now Open

On May 22, THORChain released its fourth update regarding the May 15 attack. The proposal ADR028 has been published, and node operator voting has begun.
The recovery plan involves the protocol first absorbing losses through its own liquidity, with the remaining burden shared by synthetic asset holders; the exact distribution ratios are still being evaluated. The protocol’s own liquidity will be reduced to zero and gradually replenished through system income. No new issuance or sale of RUNE will occur, and no dilution of holders.
Technically, GG20 has been temporarily retained and patched; trading will resume after the vulnerability is fixed and node rotation is successful, adopting a slower, more cautious release schedule. Innocent nodes sharing the same vault as the attacker will be protected, while attacker nodes will be fully penalized, with recovered RUNE paired with recovered assets and excess destroyed.
The protocol also offers white-hat bounties to recover funds; partial repayments will trigger proportional adjustments in the recovery plan. THORChain remains permissionless and neutral; after trading resumes, it will not scrutinize attacker swap transactions. Node operators are currently voting on the proposal, with numbers in ADR indicative only; adjustments will be made via Mimir later.

3. Data: Solana-based DePIN Projects Earned $2.9 Million in April

On May 22, SolanaFloor disclosed that Solana-based DePIN projects generated $2.9 million in revenue in April. Included projects are Helium, Render Network, Hivemapper, UpRock, NATIX Network, Xnet Mobile, GEODNET.

4. Tom Lee: Ethereum Will Continue to Be the Settlement Layer for Finance and AI, Still Optimistic on ETH

On May 22, Tom Lee, chairman of BitMine, Ethereum’s largest treasury, stated that Ethereum has a strong team of leaders and developers ensuring it remains the future settlement layer for finance and AI. He believes that many of the current bearish sentiments are just despair and mutual accusations at the bottom of the crypto winter. Blockchain is the only feasible way for agentic AI to conduct business interactions and can significantly improve financial system profitability. He remains bullish on ETH.

5. Tom Lee: ETH Selling Pressure Mainly Due to Rising Oil Prices; War Resolution Will Ease Macro Pressures

On May 21, Tom Lee wrote that current ETH selling pressure is mainly driven by rising oil prices. Regarding the recently released Fed April minutes, he said that if inflation remains above 2%, the Fed may need to tighten policies.
Tom Lee believes ETH has a historically high negative correlation with oil prices; high oil prices boost inflation expectations, increasing the likelihood of Fed rate hikes, tightening liquidity and suppressing crypto assets. Since the Iran war outbreak, oil price fluctuations have been highly synchronized with Fed rate hike/lower expectations for 2026. A resolution of the war would directly impact oil prices and could relieve macro pressures on ETH.

Disclaimer: As a blockchain news platform, Jinse Finance’s published articles are for informational purposes only and do not constitute investment advice. Please establish correct investment concepts and be aware of risks.