Summarize the current ongoing knockoff coin project teams, which are basically mainstream coins and DeFi projects.

MORPHO
Launches Agents (AI that can directly operate protocols)
Core: DeFi + AI is beginning to enter the "executable layer," not just storytelling, but actually involving AI in fund flows

AAVE
Broke up with Chaos Labs (risk service provider)
Core: Reducing dependency + lowering bindings, long-term benefits for governance independence, but short-term risk control needs observation

PENDLE
All pools launch limit order incentives (up to 100% APY)
Core: Using yields to directly deepen trading, essentially fighting for "interest rate pricing power + liquidity"

SUSHI
Perps launched (HyperLiquid provides the underlying) + early incentives doubled
Core: Re-entering the derivatives track, aiming to replicate "trading = cash flow machine"

SOL
Released Agent Skills
Core: Similar to Morpho, AI + on-chain interaction standardization, Solana is competing for the "AI chain entry point"

ENA
Disclosed USDe underlying, from single basis to multi-strategy portfolio
Core: Correcting market doubts about "unsustainable yields," a confidence-restoring catalyst

ADA
Treasury vote on April 14 (50 million ADA into the fund)
Core: Ecosystem funds start external investments, essentially an "on-chain sovereign fund" approach

STRK
v0.14.2 upgrade voting (paving the way for decentralized validation)
Core: Moving towards true decentralization, a fundamental infrastructure-level benefit

XLM
Protocol 26 testnet on April 16
Core: Continuing to strengthen payment + RWA infrastructure, steady long-term progress

KAIA
GP-21 governance (tokenomics + incentive restructuring)
Core: Directly affecting the economic model, once approved, the elasticity is usually significant

Macro-level catalysts (key points)
ETHCapital (April 15, Seoul)
Coverage: ETH LDO, OP, NEAR, ALEO
Core: This is not an ordinary conference; fundamentally about how institutional funds enter, deploy, and utilize the Ethereum ecosystem. Many "fund movements" won't be announced in advance but will gradually reflect in the market after the event.