Welcome to The Daily Crypto Briefing, here are today's headlines! The crypto landscape continues to evolve rapidly with innovative technologies transforming how we think about blockchain scalability, social media, and traditional finance integration. Today's top stories highlight breakthrough developments that could reshape the industry's trajectory in the coming months. In our lineup today: Ethereum scaling solution MegaETH launches its impressive testnet, Farcaster introduces Snapchain for decentralized social media, Fidelity makes a significant move into tokenized treasuries, and Sonic Labs unveils a high-yield algorithmic stablecoin that's raising eyebrows. Let's dive into the details. First up, MegaETH has launched its public testnet with remarkable performance metrics, achieving over 20,000 transactions per second and 10-millisecond block times. Backed by Ethereum founder Vitalik Buterin and ConsenSys founder Joseph Lubin, this scaling project is taking a different approach from Ethereum's rollup-centric roadmap. While MegaETH still executes transactions off-chain and uses Ethereum for security, it employs EigenDA and specialized sequencers to enable parallel processing. This architecture allows for significantly lower latency than most Layer 2 solutions. The team's ambitions don't stop there – they're targeting an eventual 100,000 TPS with sub-millisecond latency. The project has already attracted over $43 million in funding through various mechanisms and has applications like Infinex and GTE building on its network. This throughput-first design represents a direct challenge to the dominance of existing Layer 2 networks. Moving to social media, Farcaster has unveiled Snapchain, a blockchain-inspired data layer capable of processing over 10,000 transactions per second. Co-founder Varun Srinivasan revealed that the team built Snapchain in just six months, specifically designed to handle high-volume social interactions like likes and shares. Alongside this technical advancement, Farcaster introduced an "Airdrop Offers" program that rewards users for actions such as installing apps and creating content. What makes Snapchain unique is its account-based sharding approach for efficient scaling, functioning as a pruned, cost-effective data store for crypto-native social applications. Farcaster's main client, Warpcast, now supports direct payments and smart contract-enabled "Frames" within the app. The platform has successfully attracted 350,000 paid users and secured $150 million in funding from major investors including Paradigm and Andreessen Horowitz. In traditional finance news, investment giant Fidelity has filed to launch a blockchain-based version of its U.S. Treasury fund. This move represents a significant step in the growing tokenization of real-world assets, which has already accumulated approximately $4.8 billion. Fidelity's entrance into this space lends considerable institutional credibility to the RWA tokenization movement and could accelerate adoption among more conservative investors who trust the Fidelity brand. The integration of traditional treasury instruments with blockchain technology demonstrates how the boundary between TradFi and DeFi continues to blur. Lastly, Sonic Labs has announced a high-yield algorithmic stablecoin promising returns of up to 23% APR. This development has triggered immediate comparisons to the infamous Terra-Luna collapse that sent shockwaves through the crypto ecosystem in 2022. Critics point to the unsustainable yield and algorithmic pegging mechanism as potential red flags, while supporters argue that the team has learned from previous failures in the space. The project will face intense scrutiny as it attempts to balance attractive yields with long-term stability in a market still traumatized by previous algorithmic stablecoin disasters. That wraps up today's Daily Crypto Briefing. The industry continues to push boundaries with innovative scaling solutions, social appli