Good morning, Tim here. **Solana's Jupiter Creates Its Own Blockchain** Jupiter, a decentralized exchange aggregator and protocol suite on Solana, has announced plans to develop its own multi-blockchain network called Jupnet, unveiled at the Catstanbul conference in Turkey. This network will allow users and DeFi applications to manage funds and transact across various blockchains while ensuring decentralization. Co-founder Ming Ng stated that Jupnet aims to create a global unified market where all tradable assets are interconnected within a single network. Building a dedicated blockchain can help prevent malicious forms of miner extractable value (MEV) and minimize congestion since resources won't be shared with other protocols. Jupiter has seen rapid growth, with deposits exceeding $2. 7 billion, making it the second-largest Solana application after Jito. Additionally, Jupiter acquired a majority stake in Moonshot and launched a $10 million fund to support open-source AI.

Their recent token airdrop distributed about $600 million worth of JUP tokens to users and DAO participants. **The Future of DAOs** Despite challenges in decentralized autonomous organizations (DAOs), such as governance token centralization and voter apathy, Kevin Owocki, co-founder of Gitcoin, remains optimistic. DAOs were expected to create a more egalitarian governance model, yet their structure often leads to a few individuals controlling decision-making. However, successful DAOs like Aave, which governs $35 billion in deposits, and PleasrDAO, which funds digital art acquisitions, showcase remaining potential. Despite the absence of a formal CEO and legal liability concerns, Owocki believes DAOs need time to develop, just as traditional companies have had centuries of legal refinement. **Tornado Cash's Legal Win** Supporters of Tornado Cash are celebrating after a court ruling undermined US sanctions against the privacy protocol, previously branded a national security threat. The ruling by a New Orleans judge declared that smart contracts, like those used by Tornado Cash, aren't sanctionable like individuals or companies. With the US Treasury not seeking to challenge this decision, there are two possible outcomes: the court could lift sanctions for all US residents or only for the plaintiffs involved in the case, leaving the broader sanctions intact. **DeFi Governance Updates** - **Lido DAO** votes to create the BORG Foundation for institutional growth. - **Arbitrum DAO** proposes the SOS initiative to clarify goals. - **GMX DAO** considers a network fee smoothing proposal. **Trending in Crypto Twitter** There’s continued frustration over Ethereum's recent performance within the crypto community.