Crypto Morning Brief: Uniswap proposes UNIfication governance proposal, Monad releases tokenomics

Author: TechFlow

Yesterday's Market Dynamics

The U.S. Senate advances a temporary funding bill, securing 60 votes in procedural vote

According to Jinshi Data, the U.S. Senate has advanced a federal government temporary funding bill that would fund the government until January 30 to end the government shutdown. All votes have been counted, with 60 in favor and 40 opposed. The bill passed the procedural vote by achieving the required 60 votes, indicating it is highly likely to be approved in the formal vote.

Fed Governor Michelle Bowman calls again for a large rate cut in December

According to Jinshi Data, Fed Governor Michelle Bowman said on Monday that given softening labor market conditions and declining inflation, the Federal Reserve should cut interest rates by 50 basis points in December. She believes a 25-basis-point cut is the "bare minimum" appropriate move. Bowman noted: "We’ve received new inflation data, better than expected, which means adopting a more accommodative policy stance is justified compared to the September FOMC meeting. At that time, most policymakers believed we should cumulatively cut rates three times by 25 basis points each by year-end." The Fed has already cut rates by 25 basis points in both September and October. However, Bowman emphasized that unemployment is rising, "because policy is too tight. Therefore, we must adjust policy and continue gradually lowering rates to prevent this tightening from placing greater pressure on the economy and further driving up unemployment."

Uniswap proposes protocol fees and UNI token burn mechanism; UNI surges over 35% this morning

TechFlow news, November 11 — According to the Uniswap Foundation blog, the Uniswap Foundation and founder Hayden Adams jointly proposed a governance initiative called "UNIfication," aiming to activate protocol fees, reduce the total supply of UNI tokens, and realign ecosystem incentives.

Key changes in the proposal include activating the protocol fee mechanism, implementing UNI token burns, and establishing a Uniswap Growth Fund to finance protocol and ecosystem development. Organizationally, most teams and projects under the Uniswap Foundation will transfer to Uniswap Labs, while the Foundation will retain a lean team focused on grant management and will cease operations after deploying its remaining grant budget of approximately $100 million.

Following this announcement, UNI briefly surpassed $10 this morning, rising over 35% in 24 hours.

Monad releases tokenomics: 100 billion total supply, 3% allocated via airdrop

Monad’s mainnet is set to officially launch on November 24, 2025. Its native token MON will be publicly sold through Coinbase. The total token supply is 100 billion, with 7.5% offered at a fully diluted valuation (FDV) of $2.5 billion, and 3% distributed via airdrop. The remaining 89.2% will be allocated to the ecosystem, team, investors, and treasury.

Coinbase to launch token sales platform, Monad as first listed project

According to WSJ, the largest U.S. cryptocurrency exchange Coinbase announced a new platform allowing individual investors to purchase tokens before official listings. Blockchain startup Monad will be the first project to sell tokens on this platform.

Hourglass announces extension of Stable pre-deposit Phase II KYC deadline to 7:59 AM, November 13

According to an official announcement, the KYC verification period for the second phase of the Stable pre-deposit event has been extended by 24 hours to 7:59 AM Beijing Time on November 13. Over 17,000 applications have already been approved.

Balancer hacker has swapped other assets into ETH, currently holding about 25,300 ETH

According to analyst Yujin's monitoring, over the past few days, the Balancer hacker has been converting ETH LST tokens and other non-ETH tokens into ETH. The hacker has now largely completed the swap, holding approximately 25,300 ETH, worth around $91.69 million.

CryptoQuant: Institutions return to Ethereum market; spot order data suggests potential breakout above $4,500

According to CryptoQuant, average spot order size data for Ethereum indicates institutional investors are returning to the market. During recent market volatility when prices fell near $3,200, whale activity briefly spiked—a pattern historically signaling the formation of local bottoms and the start of accumulation phases. Analysis suggests large market participants are rebuilding positions at lower prices, while retail investors remain cautious.

If the $3,000–$3,400 range holds as structural support, Ethereum could enter a low-volatility accumulation phase, setting the stage for a potential breakout toward the $4,500–$4,800 range. Market sentiment surveys show investors hold strongly bullish views on Ethereum’s outlook.

Bybit seeking to acquire South Korean exchange Korbit

According to market sources, Bybit is seeking to acquire South Korean exchange Korbit.

Republic secures $100M interest-free financing to expand ETH staking business

According to The Block, Canadian-listed company Republic Technologies (ticker: DOCT) announced it has secured $100 million in zero-interest convertible note financing from "leading institutional investors" to expand its Ethereum validator operations and ETH reserves.

The company stated that over 90% of the funds will be used to purchase ETH, with an initial deployment of $10 million. This deal requires no interest payments or collateral, featuring only 50% warrants priced at market value—an extremely rare structure in the crypto financing space, where double-digit coupon rates or large warrant packages are typically required.

Republic operates Ethereum validator infrastructure, earning staking rewards from ETH holdings. Its ETH purchasing strategy, developed with QCP Capital, reportedly delivers an average weekly return of about 1.75%.

Biotech firm Propanc secures $100M funding to build crypto asset portfolio and advance cancer therapy R&D

According to The Block, Australian biopharmaceutical company Propanc Biopharma (Nasdaq: PPCB) announced it has secured up to $100 million in funding from family office Hexstone Capital.

The transaction is structured through convertible preferred shares, providing Propanc with an initial $1 million investment and follow-on funding of up to $99 million over the next year. Funds will be used to build the company's digital asset investment portfolio and accelerate development of its lead oncology therapy PRP, which is planned for first-in-human trials in 2026.

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