The progress of overseas star projects worth paying attention to last week: yinsure.finance will provide Balancer and other related insurance products without KYC/AML; Filecoin announced the details of the token economic model, 70% of which will be allocated to miners; IDEX 2.0 has passed the security audit of Quantstamp , will be launched in September.
According to incomplete statistics from Odaily, a total of 8 domestic and overseas blockchain financing incidents were announced last week. Among them, the decentralized trading platform DODO announced the completion of a seed round of financing led by Framework Ventures; the DeFi platform Bella received Tensor Investment Corporation's strategic investment.
Star Project Progress
Star Project Progress
yinsure.finance will provide Balancer and other related insurance products without KYC/AML
yearn.finance released yinsure.finance update information on Twitter (do not use it at this time): insurance contract deployment covering Balancer, Compound, Curve, Synthetix and yearn.finance, no KYC/AML required. Tokenize the insurance policy in the form of NFT (ERC721 based). The underwriter is Nexus Mutual. According to the official tweet, yinsure.finance is completing testing and practical exercises for these products, and then will be open to limited users.
Andre Cronje, founder of yearn, said that the tokenization of insurance policies means that risk adjustment can be carried out by the general market. It also means that distributors can buy and resell on the secondary market, while allowing for other insurance-based derivatives in the future.
According to previous reports, on August 17, Cronje announced the launch of yinsure.finance, a decentralized insurance service prototype, and will systematically release products in the next few weeks.
The product will consist of three core parts: Underwriter Vault, Policyholder Vault, and Claims Governance. The insurance service of the underwriter's vault is provided by the liquidity provider (LP), but the related fees can be obtained as income. The first insurer vault to go online is yiUSDC, and the first policyholder vault to be offered is yUSD (wrapped yCRV) assets in yVault.
SushiSwap will vote on the LP trading pairs it plans to add
Chef Nomi #SushiSwap tweeted, "SushiSwap voters are considering which LP trading pairs to add in SushiSwap farming. You can reply to the projects you want to see on Twitter, and I can add them to the soft signal pool of the Discord channel .Anything with sufficient signal will be submitted to the voting page. https://snapshot.page/#/sushi. Voting rights are determined by SUSHI-ETH LP tokens pledged in the MasterChef contract."
According to the screenshot shared by him, the LP trading pairs proposed to participate in the voting include MTA-ETH, SRM-ETH, LRC-ETH, CREAM-ETH, ETH-CHAIN, USDC-USDT, ANT-ETH, USDC-USDx, etc.
Filecoin announces the details of the token economic model, 70% is allocated to miners
The distributed storage project Filecoin (FIL) officially released a 32-page "Filecoin Economy" report, which elaborated the principles and rules of token economic model design. According to the distribution rules of Filecoin tokens, the total amount of Filecoin tokens is 2 billion, 5% is allocated to the Filecoin Foundation, 10% is used for financing, 15% is allocated to protocol laboratories, and 70% is allocated to miners. 15% of the total amount of tokens (accounting for 21.4% of miner rewards) will be used as mining reserves to motivate retrieval miners and other types of miners in the future. The specific usage method will be jointly decided by the community through the Filecoin Improvement Proposal (FIP) .
Avalanche mainnet and exchange are expected to be launched around mid-September
According to official news, the decentralized service platform Avalanche announced that the mainnet release and the exchange launch are expected to be around mid-September. Avalanche recently released the Everest test network. Without any incentives, there are currently more than 650 full-node block verifiers participating in the operation of the platform. In addition to the liquidity of the mainnet and transactions, Avalanche is simultaneously arranging other major infrastructure integrations, such as custody, wallets (including Ledger hardware), and staking service providers.
Curve launched a new proposal CIP#6 of "Adding Idle Pool"
The Curve Governance Forum, a stablecoin exchange platform, initiated the proposal CIP#6 on "Adding an Idle Pool to Curve". Specifically, the proposal proposes adding idleDAI/idleUSDC/idleUSDT pools. The Idle platform optimizes the lending function, can lend to multiple platforms, distributes basic governance tokens (COMP) to users, and has its own governance tokens to distribute to users. Note: Idle has been audited by QuantStamp several times, most recently in August 2020.
On August 30, the DFI.Money (YFII) community initiated a new proposal, proposing to allocate 5% of the income from the machine gun pool to the YFII reward pool. When the reward pool reaches USD 1 million locked up, the one-week liquidity mining will be restarted regularly. To ensure regular high APY farming on YFII, the new distribution decision is:
1% harvesting cost (same as before);
1% insurance (same as before);
5% YFII reward pool (from 3% burning to 5% regular re-mining);
3% community fund (from 5% to 3%).
Yfv Finance announced the completion of the audit of the YFV protocol: no key issues were found
Yfv Finance announced that The Arcadia Group has completed the audit of the YFV protocol within the estimated time. The audit was conducted by Minh Khai Do, an engineer at Arcadia, and the summary was conducted by Rasikh Morani and Joel Farris. The assessment identified a small number of low-severity issues related to code quality and health, and found no high-severity or critical issues.
Compound's proposal to "reduce the COMP issuance rate by 20%" has passed
Compound Labs officially announced that Proposal 21 was passed and can be implemented after a 2-day waiting period. On August 27, Governance Proposal 21 was submitted, planning to reduce the COMP issuance rate by 20%.
Tarun Chitra, the founder of Gauntlet, stated in proposal 022 (the system reduces the amount of tokens issued), that the COMP distribution model can be optimized a lot. Compared with short-term holding and trading, the Compound network should start to consider increasing users who hold COMP tokens for a long time Motivate. Although the introduction of COMP has led to rapid growth of lending business and liquidity mining business, on-chain and off-chain data show that in terms of network governance, voter participation and lending activities can be improved through allocation adjustments. By distributing COMP to borrowers, the protocol encourages recursive leverage, which adds little value and reduces the security of the protocol.
IDEX version 2.0 has passed the Quantstamp security audit and will be launched in September
IDEX announced that it will launch version 2.0 in September, which has currently passed Quantstamp's security audit. According to IDEX, this by no means means that the audit measures are over. When preparing for IDEX 2.0, IDEX plans to formulate strict security and testing to maintain the industry-leading DEX status.
IDEX 2.0 combines the speed and functionality of centralized exchanges with the security and self-hosting functions of decentralized exchanges. Currently, it supports the use of 2.0 API sandboxes in the testnet, allowing traders to deploy trading robots locally to Reduce friction. At the same time, market makers and algorithmic traders are currently supported to access API files to test and use version 2.0 related functions.
Dharma launched a smart slippage charging system to reduce the waste of Gas fees
The lending platform Dharma announced the launch of the Intelligent Slippage Fees system (Intelligent Slippage Fees), which will automatically calculate the intra-block volatility in the past 12 hours for a specific trading pair, and then set the slippage fee to 95% of the threshold, thereby Ensure that the transaction has a 95% probability of successful completion to avoid users wasting Gas fees.
For many of the most common trading pairs, this mechanism will reduce the slippage fee charged to users, and in some cases, the fee is even lower than Uniswap’s default fee. For long-tail coins, this fee may increase. For example, BASED typically has an intra-block volatility of over 30%. In this case, the fee will change in real-time to dynamically adjust to the volatility of the trading pair on Uniswap.
Aragon Launches New Asset Allocation Experiment, ANT Users Can Fund Community Proposals
Investment and financing overview
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Investment and financing overview
Alameda Research Invests in Trading Ecosystem Solution UpBots
Alameda Research completed a round of strategic investment in UpBots, a trading ecosystem solution. The UpBots project completed a token sale financing of US$1.1 million. Other investors include institutions such as CMS and Taureon. The project aims to combine DEX and CEX to form a trading system, integrate various DeFi protocols that support mortgage and lending, and support seamless switching between robot trading and manual trading. UpBots also revealed that the project is seeking to list on the decentralized exchange Serum.
DODO, a decentralized trading platform based on an active market maker algorithm, announced the completion of a seed round of financing led by Framework Ventures and followed by Defiance Capital. Other investors in this round of financing include SevenX Ventures, BTC12 Capital, Origin Capital, Maple Leaf Capital, and many well-known angel investors in the industry, including Compound founder Robert Leshner, Coingecko founder Bobby Ong, Bihu and MyKey founder Gulu , Dforce founder Yang Mindao, and well-known opinion leaders Jason Choi, Spencer Noon, etc.
DODO officially stated: "In the next period of time, we will add more mainstream trading pairs, release liquidity and trading incentive plans, and start supporting the Binance Smart Chain. At the same time, DODO is also actively cooperating with various It integrates with mainstream wallets and aggregators."
African exchange Yellow Card completes $1.5 million financing, a16z participates in investment
Chris Maurice, CEO of cryptocurrency exchange Yellow Card, said the exchange has raised $1.5 million from Andreessen Horowitz, Polychain and Celo to expand its business growth in Nigeria, South Africa and Botswana.
DeFi asset management platform Zapper completed a $1.5 million seed round of financing
DeFi asset management platform Zapper has closed a $1.5 million seed round led by Framework Ventures and Libertus Capital. The funding will be used to further “expand the accessibility of DeFi,” Zapper said.
Framework Labs Completes $8 Million Seed Round
Framework Ventures, a DeFi-focused venture capital firm, announced that its technology arm, Framework Labs, has closed an $8 million seed round. The seed funding enables Framework Labs to grow its research, trading, and engineering teams, develop governance proposals for DeFi blockchain protocols, provide liquidity to non-custodial decentralized exchanges, incubate promising startups, and support funding at Framework Ventures Build consumer-facing applications on top of the protocol.
Polkadot DeFi platform Acala raises $7 million, led by Pantera Capital
The Polkadot DeFi platform Acala announced that it has completed a financing of US$7 million, led by Pantera Capital. Other investors include 1confirmation, Arrington XRP Capital, ParaFi Capital, Coinfund, DCG, Spartan Group, etc. Acala also announced that new strategic partners Altonomy and CMS Holdings have recently joined the Acala ecosystem.
DeFi Platform Bella Receives Strategic Investment from Tensor Investment Corporation
Decentralized finance (DeFi) platform Bella has just received a strategic investment from private equity firm Tensor Investment Corporation after raising a multi-million dollar seed round. Bella is the first investment target of decentralized finance deployed by Tensor.
According to previous reports, Bella Protocol, a one-click DeFi aggregator and asset management platform, announced the completion of multi-million dollar financing, exceeding the original fundraising target. This round of financing was led by Arrington XRP Capital. Other investment institutions and individuals include the famous European venture capital Alphabit, Galaxy Digital co-founder David Namdar, BlockWall Capital founding partner Laurenz Apiarius, Blockstream product director Ben Gorlick, Koi Ventures, Force Partners, RockX, CGS Dubai, N7 Labs, Coinbene, Amedeo Capital, Alphacoin Fund, BitBlock Capital, BlueHill, Roark Fund, Yunshang Capital, etc.
LD Capital announces investment in asset management protocol dHedge
LD Capital announces investment in asset management protocol dHedge.
dHedge is an asset management protocol built on top of Synthetix, allowing anyone to set up their own investment funds on the Ethereum blockchain, or invest in funds managed by others in a completely non-custodial manner, which will be decentralized and license-free The concept is integrated into traditional asset management services. By utilizing the idea of robo-advisors and adding community support, everyone can play the role of "investment advisor robot", and investors and traders will never have to pay for relevant advisory services .
