During the week from May 17th to May 23rd, although the market was sluggish and mainstream currencies were cut in half, there were still some star projects that made progress worthy of attention at the product level, as follows:Cardano ERC-20 Converter Tool to be Deployed to Testnet Soon；Kusama has successfully deployed Parachain Shell；SushiSwap launches IDO distribution platform MISO；Block.one Upgrades Voice to NFT-Based Social Platform；Ethereum expansion plan Optimism integrates block browser Etherscan。
public chain
public chain
Cardano ERC-20 Converter Tool to be Deployed to Testnet Soon
Cardano’s ERC-20 converter tool with built-in two-way conversion functionality will enter beta. Francisco Landino, project manager of IOHK, the research and development company behind the Cardano blockchain, said that the platform’s ERC-20 migration tool will soon be deployed to the testnet, and the ERC-20 converter tool will allow the migration of Ethereum-based tokens to the Cardano chain. (Cointelegraph)
Kusama has successfully deployed Parachain Shell
Kusama tweeted to announce that the parachain Shell has been successfully deployed. Within 24 hours after the deployment of the Shell, the Shell will be upgraded to Statemine through voting, and then the parachain slot auction will begin. In addition, the official reminded relevant parties to update to version 0.9.
Michael Cotton and AJ Milne, founders of the Australian start-up technology company Meld Gold, will launch Algomint, a protocol that can cross-chain to the Algorand ecosystem in the third quarter of this year. The mode of operation of Algomint is that if users want to trade Bitcoin (or other assets) on Algorand, they only need to mint goBTC on the Algomint platform, and at the same time lock the original Bitcoin in a secure third-party vault at a ratio of 1:1 , and then destroy goBTC in the same proportion when withdrawing its bitcoins, and will also support assets such as Ethereum. Algomint also plans to issue its governance token, goMNT, in the third quarter of 2021.
Tether will launch USDT on Avalanche
The public chain platform Avalanche announced that Tether, the issuer of the US dollar stable currency USDT, will launch USDT on the Avalanche platform. Paolo Ardoino, chief technology officer of Tether, said that the launch of USDT in Avalanche will provide traders with a fast and cost-effective way to transfer USDT between different exchanges. Extended blockchain.
GateChain EVM smart chain officially released
DeFi and related infrastructure
DeFi and related infrastructure
SushiSwap launches IDO distribution platform MISO
Official news, SushiSwap announced the launch of MISO, an IDO distribution platform.
In previous news, SushiSwap announced that it will release the IDO distribution platform MISO on May 17. Currently, MISO provides three types of tokens, which can be selected according to the needs. Once the tokens are issued or successfully listed on MISO, they can be distributed in other modules according to demand.
Synthetix, a synthetic asset protocol, plans to launch native tokens for four ecological projects
The synthetic asset protocol Synthetix announced plans to launch native tokens for four ecological projects, namely the trading protocol Kwenta, the binary options protocol Thales, the second-tier native options protocol Lyra, and the fundraising protocol Aelin.
Curve Finance's cross-asset exchange volume hit a new high, exceeding $99 million in a single day
News Curve Finance tweeted that today is the largest cross-asset exchange (swap) day so far, and it is also the largest whale exchange day.
The latest data shows that the total amount of cross-asset exchanges on May 23 currently exceeds US$99.02 million, and the largest exchange amount is close to US$32.02 million.
According to official news, Fei Labs, the development team of the decentralized stablecoin project Fei Protocol, stated that the community initiated the Fei Improvement Proposal FIP-5, which uses the protocol to purchase FEI's ETH into the stabilizer, rather than as the liquidity of the ETH-FEI pair.
Current, the nation's leading fintech bank, announced a partnership with Polkadot's DeFi platform Acala. Current said that this cooperation will focus on traditional finance and DeFi, combine the original core banking products with Acala’s DeFi products, provide more diversified financial services for its 3 million users, and jointly build traditional financial systems and blockchain applications A bridge to create a new paradigm of Hybrid Finance.
Moonbeam Releases Kusama Parachain Moonriver Slot Bidding Strategy
The smart contract platform Moonbeam released the Kusama parachain Moonriver slot bidding strategy. Moonriver will use Crowdloan to participate in the auction, and distribute 30% (3,000,000 pieces) of the total amount of Moonriver network token MOVR to Crowdloan users. If the parachain is successfully deployed, 30% of the rewards will be distributed directly on the chain, and the remaining 70% will be released in 48 weeks. Moonbeam plans to participate in all 8 lease period auctions (6 weeks each) and will participate in at least two consecutive auctions.
Injective Announces Derivatives Market Governance Feature
News Injective announced the launch of the governance function of the derivatives market. Starting today, users participating in Equinox Staking will be able to publish new derivatives market proposals for perpetual contracts and futures contracts. According to the official introduction, the governance process is a core component of the decentralized protocol, and it will play an important role in Injective's upcoming mainnet version. Additionally, users will receive more APY boosts on Equinox Staking by issuing governance proposals.
Layer 0 extension project Marlin enables gateways and relays for Polkadot
secondary title
Layer2
According to official news, zkSync, the second-layer solution of Ethereum, said that zkSync 2.0 ensures the security of funds through three elements:
1. Security through isolation and redundancy.
Isolation: Only blocks submitted by authorized sequencers are allowed to submit state transitions to ZKSync L1 smart contracts.
Redundancy: Every transaction submitted to the sequencer will be verified with a simple execution before being included in a block.
2. Trust-minimized upgradeability.
3. zkSync Security Council.
The zkSync Security Committee is composed of 15 Ethereum community members from projects such as Aave, Balancer, and 1inch. When the system is stopped and put into emergency mode, the upgrade time will be longer than 4 weeks, in the case that cannot be resolved through the normal upgrade process, the 8/15 signature can reduce the time lock to 2 weeks, and the 10/15 signature can reduce the time lock to 1 Week, 12/15 signature can reduce the time lock to 3 days.
Ethereum expansion plan Optimism integrates block browser Etherscan
Optimism, the Ethereum expansion plan, announced the integration of block browser and analysis platform Etherscan. Optimistic Ethereum users can monitor deposits and withdrawals through the optimistic.etherscan.io website, check the time when transactions on L2 are pre-confirmed by the sequencer (Sequencer) and When L1 uploads and completes the transaction, verifies and releases the contract source code compiled by OVM, and will also be able to complete withdrawals on L1.
Ethermine mining pool parent company Bitfly payment system supports Polygon
Bitfly, the parent company of the Ethermine mining pool, said on Twitter that it has studied sidechain solutions for miner payments to provide a better experience for Ethermine miners. Its payment system will reduce the daily payment limit of small miners to 0.005 ETH by supporting the expansion of the Polygon network on the second layer of Ethereum. Bitfly will allow miners to choose to use the Polygon scheme from June 1st. For miners who want to join Polygon, they need to connect to the MetaMask wallet and choose to join the Polygon payment in the settings.
According to official news, Sorare, a digital football NFT collection platform, announced a cooperation with Starkware, a zero-knowledge proof research institution, to further use zero-knowledge proof technology to build on Ethereum, and will launch this new infrastructure before the end of July 2021.
The second-tier expansion solution Connext will launch a virtual AMM and liquidity auction mechanism
According to official news, Connext, the second-tier expansion solution, announced that in order to solve the liquidity problem, it will launch a virtual AMM and liquidity auction mechanism. The concept of virtual AMM is to enable Connext routing nodes (liquidity providers) to enable cross-chain transmission to obtain the arbitrage incentive advantages of AMM, and rebalance liquidity for arbitrageurs. The liquidity auction is a mechanism where transfers are automatically sent to the routing node with the most unbalanced liquidity, i.e. the network automatically load balances among the liquidity providers in the ecosystem based on the available liquidity. Connext plans to test the liquidity auction mechanism this week, and will release an experimental version of the virtual AMM after the liquidity auction goes live.
NFT
Block.one Upgrades Voice to NFT-Based Social Platform
Block.one has decided to close its decentralized social media platform, Voice, to the public for a few months in order to upgrade it to an NFT-based social platform. Voice currently says it’s an “NFT platform for emerging creators” and plans to launch in summer 2021. "By tokenizing the content itself, we offer creators the opportunity to directly tokenize their work," the statement said. Explaining the reasoning behind its latest NFT-oriented move, Block.one pointed to the company's regulatory woes, saying they are “happy to work with U.S. regulators to gain approval for our fungible and transferable VOICE token.” Block.one claims it remains committed to building on the EOS mainnet. (Cryptonews)
Encryption artist Sean Williams tweeted that Instagram may launch an NFT platform and is currently communicating with artists to sign relevant agreements.
Sean Williams said that he received an official email from the overseas social platform Instagram, and Instagram expressed the hope that he and some emerging encryption artists could help build Instagram's NFT platform. Instagram will give each artist a $1,000 "remuneration" for helping, but at the same time, artists must sign a one-way non-disclosure agreement that prohibits them from disclosing their efforts behind the scenes to help Instagram. After Sean Williams rejected Instagram's invitation, Instagram withdrew the email, but Sean Williams has saved the screenshot.
Ali Auction 520 Auction Festival launches NFT digital art special
News Taobao Ali Auction Juhaowan 520 Auction Festival launched a special session of NFT digital art. From 10:00 on May 20, the artist Wan Wenguang's work "U107-No Waste Odaily Series-Cabinet Family Van Gogh" and Haidie Yuhai's works will be auctioned. The work "Devil Cat-Colorful Wandering Body Green" and many other digital artworks. The NFT digital artwork purchased by users of this auction can be accessed, learned, researched, appreciated, downloaded (thumbnail), displayed, and shared within the scope of the original license. The user searches for and opens the "Fan Grain" applet on Alipay, clicks "NFT Art Collection" to enter the asset list page; clicks "NFT Art Collection" to enter the asset list page, and clicks on the picture to view the corresponding NFT digital artwork.
Fox Entertainment is forming Blockchain Creative Labs to create NFT collections based on its intellectual property rights. Fox said: "We will plan and sell digital goods, including NFT collections of unique characters, creative backgrounds and GIF animations, and will also issue some token products to provide exclusive social engagement and reward opportunities for hardcore fans."
Manchester City FC to release NFT collectibles commemorating Premier League champions
Manchester City FC will release a series of NFT products commemorating the Premier League champions. The club said on Wednesday that the collection, named "1" to reflect the team's position in the standings, will include four pieces by artist Jon Noorlander, and fans will also be able to enter a free draw to win one of the versions." The Champions Medal" without buying it. '1' will be available on NFT platform MakersPlace on May 24, the day after Manchester City collect the Premier League trophy at the Etihad Stadium after their final league game of the season against Everton FC. (CoinDesk)
Lee Sedol vs. AlphaGo Victory NFT Ends Auction, Sold for Over $210,000
security incident
security incident
DeFi income aggregator PancakeBunny was attacked by flash loans and lost more than $45 million
PeckShield's "Pie Shield" warning shows that the DeFi income aggregator PancakeBunny was attacked by a flash loan, and lost 114,631.5421 WBNB and 697,245.5699 BUNNY, a total of about 45 million US dollars.
VENUS, BSC's largest lending platform, allegedly experienced a large amount of liquidation. According to the feedback from the community, there are several large investors who have more than 3 million XVS (Venus platform currency) in their hands. They spent tens of millions of dollars last night in a very short period of time to pull the price of XVS from more than 70 dollars to 144 dollars , and then mortgage XVS at a high price to borrow thousands of BTC and tens of thousands of ETH. Subsequently, the price of XVS collapsed rapidly, and XVS was liquidated, causing more than $100 million in bad debts to the Venus platform.
DeFi protocol bEarn Fi official: 10,859,319 BUSD lost, 105% will be replenished to affected users
According to the official news, the DeFi protocol bEarn Fi stated that the BUSD-Alpaca strategy of bVaults was exploited and consumed 10,859,319 BUSD in the pool. According to bEarn Fi, only the BUSD pledged bVault using the Alpaca strategy is affected, and the rest of the bvault and other pools on the platform are not at risk.
DeFi protocol Bogged Finance official: flash loan attack caused $3 million loss in liquidity pool
According to the official statement of the DeFi protocol Bogged Finance, hackers have carried out a flash loan attack on the pledge loophole of the BOG token contract, and transaction fees have been disabled. The hacker transferred $3 million from the liquidity pool, and the current liquidity is $8 million. Hackers use the Pancake Pair Swap code to realize the pledge income in the middle of buying and selling before the contract takes effect, which leads to changes in the total supply. This attack is currently mitigated by Bogged Finance and will not be repeated. All current wallet holding percentages are greater than the actual situation, and Bogged Finance will correct the current supply display problem.
According to official news, the option agreement FinNexus issued an official statement on the hacker attack. Part of the hardware driving FinNexus was damaged by malware, which seems to be an attack on the platform. Hackers sneaked into the FinNexus system and successfully restored the private key to the ownership of the FNX token contract. The hacker then transferred ownership of the contract and minted over 323,000,000 FNX tokens. FinNexus stated that the developers have conducted a thorough inspection of the contract, that the private keys of other FinNexus contract owners are safe, and that no code flaws have been exploited. Currently, FinNexus is contacting the exchange with Wanchain to mitigate the adverse impact on users and track down the hacked funds in a joint effort to freeze them.
PeckShield warning: BinanceGoat project has high risks
PeckShield "Pie Shield" warning shows that the BinanceGoat project on the BSC chain has high risks. Users are advised to invest in its token RCZgoat carefully and do not interact with any smart contracts of the project. The RCZgoat contract address is: 0x580ed41be3ad4097BcfB495136Aa48b4322DAF2C.
