1. About BNB Chain Binance Smart Chain was officially launched on September 1, 2020 as the public blockchain of Binance CEX. BNB Chain is a blockchain ecosystem designed to facilitate the adoption of Web3 technology by reducing barriers for users and developers. It provides a secure and efficient environment for decentralized finance (DeFi) and decentralized applications (dApps). As part of its ecosystem, BNB Chain offers several key components that enhance scalability, decentralization, and usability. Its low transaction fees and robust infrastructure make it an attractive platform for those looking to engage in blockchain-based activities. There are three core BNB Chain components: BNB Chain - is an EVM-compatible layer-1 blockchain known for its fast processing speeds and low transaction costs. It supports DeFi applications and smart contracts, providing users with a cost-effective alternative to other blockchain platforms. BNB Greenfield - is a decentralized storage network that focuses on providing decentralized data management and access and EVM programmability, to revolutionize the data economy by simplifying the process of storing and managing data. opBNB - is a high-performance optimistic rollup, layer-2 scaling solution for BNB built with Optimism OP Stack. opBNB has extremely cheap transaction cost around ~0.0001BNB. Together, these components create a blockchain ecosystem that addresses needs from DeFi and smart contract deployment to storage and scalability positioning BNB Chain as a comprehensive platform for Web3 development.

Market Liquidity OETH on-chain liquidity is predominantly in Curve pools, to maintain its peg OETH utilizes an Automated Market Operations strategy (AMO) which expands and contracts supply of ETH and OETH depending on market conditions. Additionally the algorithmic market controller is used to optimize yield for OETH holders from LP reward. This creates a significant dependence on a single DEX. 2 centralized exchanges improve market depth (via MEXC and Poloniex) with both markets consistently facilitating a large proportion of daily OETH volumes. Token Volatility No significant depeg events were noted from underlying ETH, with daily returns and price differences (Liquid staking basis) being relatively similar or differing marginally over two 90 day periods observed in 2023 (7/1/2023 - 9/27/2024) and 2024 (4/25/2024 - 7/24/2024). 311 OETH Liquid Staking Basis over 90 days Source: Coingecko Historical Data | 4/24/2024 - 7/23/2024 Smart Contracts

Note: frxETH is exchangeable for sfrxETH by depositing into the sfrxETH vault. The exchange rate of frxETH per sfrxETH increases over time as staking rewards accrue. Market Liquidity Liquidity for frxETH is currently available on Curve and Uniswap, with the majority of liquidity pools on Curve. While sfrxETH has markets on Balancer and Curve. Market depth for both assets seems healthy with volume not being concentrated in a single pool. Concerningly, no CEX liquidity is available for either asset and Curve represents a large concentration of liquidity, largest ETH paired pool for frxETH had a $29.8M TVL at time of writing (frxETH/WETH). A slippage greater than 1% would require an estimated 10870 frxETH to ETH trade ($26.9M) and 11495 sfrxETH to ETH trade ($31.1M). This demonstrates a deep level of liquidity but with the caveat of Curve pool dependence. Token Volatility The liquid staking basis, the difference in price between frxETH and ETH, has remained relatively stable over the last 90 days. LSB observed has averaged -0.22% over the period, and has ranged between -0.98% and 0.58%. Relative to LST market leader wstETH, frxETH has deviated slightly more from its peg.

Market Liquidity As the market leader in the LST market, stETH and wsETH are widely available across DEXes such as Curve, Uniswap, Balancer, Pancake swap and Sushiswap. Liquidity on CEXes is equally diverse with availability on MEXC, Binance, Huobi, Crypto[dot]com, Coinbase and HitBTC among others. Multiple pools exist for liquidation on and off chain, according to DexGuru over a 30 day period (7/28/2024 - 8/28/2024) 7 DEX pools have had over $1M in liquidity. A >1% slippage would require an estimated swap size of $143.75M (47.3K stETH). Additionally, stETH is utilized extensively across multiple leading DeFi protocols as collateral, including Aave, Compound and Maker. Token Volatility The liquid staking basis (price difference between stETH and ETH) has been relatively stable averaging -0.03% over a 90 day period, not deviating significantly and has remained close to ETH with a LSB range between -0.0024% and 0.0025%. Significant depeg events have occurred in the past before withdrawals were enabled. stETH Liquid Staking Basis over 90 days Source: Coingecko Historical Data | 5/28/2024 - 8/26/2024

Market Liquidity Mainnet liquidity for Mantle ETH extends to Uniswap V3 and Pancake swap, with the majority of liquidity in Uniswap, as of 8/27/2024 the WETH/METH pool amounted to $28.37M in TVL (mETH $15.48M). METH is also available natively on the Mantle Network DEXes, Agni Finance, Merchant Moe and FusionX. Additionally, centralized exchange liquidity is limited to Bybit. The tokens market distribution should be of concern as ~30% of mETH is restaked in EigenLayer and ~37% of the supply is deposited on the Mantle Network. In the event of liquidation, sufficient market depth may be limited by time delays and demand involved with unstaking and bridging back from the L2. Token Volatility Over the last 90 days (5/26/2024 - 8/27/2024), daily returns for mETH and ETH averaged 3.192% and 3.170% respectively. Earlier this year, mid-March, mETH experienced increased pressure on its peg possibly due to several converging factors involving ETH market behavior, the staking queue, and withdrawal demand following the conclusion of an mETH incentive program. mETH & ETH 90 day Daily Returns Source: Coingecko Historical Data | 5/28/2024 - 8/27/2024

ARPA Network Contract address: 0x1de75eaab2df55d467494a172652579e6fa4540e Website: https://www.arpanetwork.io Twitter: https://x.com/arpaofficial Docs: https://docs.arpanetwork.io/ Blog: https://arpa.medium.com/ AVS Category: ETH Restaked: 208,285.487 Total Operators: 23 Total restakers: 93,1810

DODOchain MACH Contract address: 0xd50E0931703302B080880C45148F5D83ea66aE2a Website: https://www.dodochain.com/ Twitter: https://x.com/DODO_chain Docs: https://docs.dodochain.com/ Blog: https://medium.com/@DODOchain AVS Category: "Secured Network" (Layer 3, Trading Omnichain, Defi) ETH Restaked: 208,285.487 Total Operators: 35 Total restakers: 61,600

ARPA Network Contract address: 0x1de75eaab2df55d467494a172652579e6fa4540e Website: https://www.arpanetwork.io Twitter: https://x.com/arpaofficial Docs: https://docs.arpanetwork.io/ Blog: https://arpa.medium.com/ AVS Category: Web3 Infrastructure ETH Restaked: 208,285.487 Total Operators: 23 Total restakers: 93,1810

DODOchain MACH Contract address: 0xd50E0931703302B080880C45148F5D83ea66aE2a Website: https://www.dodochain.com/ Twitter: https://x.com/DODO_chain Docs: https://docs.dodochain.com/ Blog: https://medium.com/@DODOchain AVS Category: "Secured Network" (Layer 3, Trading Omnichain, Defi) ETH Restaked: 208,285.487 Total Operators: 35 Total restakers: 61,600

Omni Network Contract address: 0xed2f4d90b073128ae6769a9A8D51547B1Df766C8 Website: https://omni.network/ Twitter: https://x.com/OmniFDN Docs: https://docs.omni.network/ Blog: https://news.omni.network/ AVS Category: Interoperability ETH Restaked: 953,918.431 Total Operators: 50 Total restakers: 84,359

Cyber MACH Contract address: 0x1F2c296448f692af840843d993fFC0546619Dcdb Website: https://cyber.co/ Twitter: https://x.com/BuildOnCyber Docs: https://docs.cyber.co/ Blog: https://cyber.co/blog AVS Category: Rollups ETH Restaked: 595,248.915 Total Operators: 45 Total restakers: 74,447

Brevis coChain Contract address: 0x9FC952BdCbB7Daca7d420fA55b942405B073A89d Website: https://brevis.network/ Twitter: https://x.com/brevis_zk Docs: https://docs.brevis.network/ Blog: https://blog.brevis.network/ AVS Category: ZK Coprocessor ETH Restaked: 1,260,943.921 Total Operators: 71 Total restakers: 98,514

Witness Chain Contract address: 0xd25c2c5802198cb8541987b73a8db4c9bcae5cc7 Website: https://www.witnesschain.com/ Twitter: https://twitter.com/witnesschain Docs: https://docs.witnesschain.com/ Blog: https://docs.witnesschain.com/resources/technical-papers AVS Category: Rollups ETH Restaked: 2,339,817 Total Operators: 75 Total restakers: 92,953

Xterio MACH Contract address: 0x71a77037870169d47aad6c2C9360861A4C0df2bF Website: https://xter.io/ Twitter: https://twitter.com/XterioGames Docs: https://xterio.gitbook.io/xterio Blog: N/A AVS Category: Rollups ETH Restaked: 1.31m ETH Total Operators: 42 Total restakers: 89,630

AltLayer Contract address: 0x71a77037870169d47aad6c2C9360861A4C0df2bF Website: https://www.altlayer.io/ Twitter: https://twitter.com/alt_layer Docs: https://docs.altlayer.io/altlayer-documentation Blog: https://blog.altlayer.io/ AVS Category: Rollups ETH Restaked: 1,385,881 Total Operators: 42 Total restakers: 86,485

Automata Multi-Prover Contract address: 0xe5445838c475a2980e6a88054ff1514230b83aeb Website: https://www.ata.network/ Twitter: https://x.com/automatanetwork Docs: https://docs.ata.network/ Blog: https://blog.ata.network/ AVS Category: Coprocessors ETH Restaked: 1,69m ETH Total Operators: 67 Total restakers: 109,970

OpenLayer Contract address: 00xF7fcff55d5FDAf2C3Bbeb140Be5e62a2c7D26Db3 Website: https://www.openlayer.tech/ Twitter: https://x.com/OpenLayerHQ Docs: https://openlayer.gitbook.io/openlayer Blog: https://medium.com/@openlayer AVS Category: Web3 Infra ETH Restaked: 1.88m ETH Total Operators: 51 Total restakers: 193,470

Lagrange ZK Prover Network Contract address: 0x22CAc0e6A1465F043428e8AeF737b3cb09D0eEDa Website: https://www.lagrange.dev/ Twitter: https://twitter.com/lagrangedev Docs: https://docs.lagrange.dev/zk-coprocessor/overview Blog: https://www.lagrange.dev/blog AVS Category: coprocessor ETH Restaked: 1,96m ETH Total Operators: 55 Total restakers: 105,820

Lagrange State Committees Contract address: 0x35F4f28A8d3Ff20EEd10e087e8F96Ea2641E6AA2 Website: https://www.lagrange.dev/ Twitter: https://twitter.com/lagrangedev Docs: https://lagrange-labs.gitbook.io/lagrange-v2-1 Blog: https://www.lagrange.dev/blog AVS Category: coprocessor ETH Restaked: 2,372,462 Total Operators: 62 Total restakers: 102,965

Eoracle Contract address: 0x23221c5bB90C7c57ecc1E75513e2E4257673F0ef Website: https://www.eoracle.io/ Twitter: https://twitter.com/eoracle_network Docs: https://eoracle.gitbook.io/eoracle Blog: https://blog.eoracle.io/ AVS Category: Oracle ETH Restaked: 2,429,746 Total Operators: 103 Total restakers: 105,753