In the week of September 6-September 12, the events worthy of attention in the progress of star projects include: the Algorand Foundation announced the launch of a $300 million DeFi support fund; Harmony will provide funds worth over $300 million in the next four years for Ecological construction; Terraform Labs launched "Project Dawn", which has unlocked 150 million US dollars of LUNA for Terra ecological construction; Gitcoin launched the 11th round of donation activities; dYdX released Epoch 0 review, with a cumulative transaction volume exceeding 19.4 billion US dollars; Ethereum expansion plan Optimism : Big news coming next week.
public chain
public chain
Input Output Global (IOG) tweeted that the smart contract update proposal has been successfully submitted to the Cardano mainnet to trigger the Alonzo hard Fork the combiner event, in line with the team's original schedule. This will be Cardano's most significant upgrade to date.
Algorand Foundation Announces $300 Million DeFi Support Fund
According to the official announcement, the Algorand Foundation announced the launch of the Viridis DeFi Fund, which will provide 150 million ALGOs (with a total value of more than 300 million US dollars) to promote the growth of the DeFi ecosystem on the Algorand chain.
The Algorand Foundation first announced the first two "SupaGrants", aimed at supporting the creation of key DeFi infrastructure; will launch a $5 million Oracle SupaGrant seeking to integrate the oracle network with relevant price feeds, and a $5 million Bridge SupaGrant .
According to official news, the blockchain platform Harmony will provide treasury funds worth more than 300 million US dollars in the next four years to support ecological construction, including the construction of DAO, providing bounties, funding new projects, sponsoring Hackathon, investing, etc. Harmony said that from the fourth quarter of this year to the third quarter of 2022, it will provide 180 million worth of financial support, including providing 100 DAOs with 50 million US dollars in salary and bonuses; Including the development of protocol-specific systems, tools, etc. and non-technical tasks; providing 30 million US dollars of financial support for 10 partners, targeting industry-leading projects; providing 20 million US dollars of funding for the release of 500 new projects; $20 million budget for 50 investments and sponsorship of 10 Hackathons.
Terraform Labs (TFL) has launched Project Dawn, a funding program for Terra's ecological infrastructure and core technologies, and has unlocked 5 million LUNAs (worth approximately US$150 million) to implement the funding program. The plan includes three aspects. First, TFL will set up an internal engineering team to develop Terra core technology; second, TFL will cooperate with infrastructure providers to improve user experience and prevent DDoS attacks; third, TFL will host the validator Fanghe provides more options for oracle machines, including hosting nodes currently hosted on mainstream cloud service providers such as AWS to self-operated servers, and providing oracle services with diversified LUNA prices to prevent a single oracle machine from being manipulated or attacked.
Ethereum expansion program Aurora announced the launch of the NEAR verification node to fund the Ethereum cross-chain Rainbow Bridge (Rainbow Bridge). Due to the architecture of the Rainbow Bridge, 1,000 NEAR and 7 ETH ($30,000 in total) will be consumed per month to keep the network in sync, and additional funds will be required to test and update the Rainbow Bridge and automate the transfer from Ethereum to NEAR. Funding currently supporting the Rainbow Bridge is provided by the NEAR Foundation, but Aurora believes this approach is unsustainable. Aurora said that its verification nodes will start with a 9% fee, which will be gradually adjusted according to the amount of delegated funds. Aurora encourages NEAR token holders to adjust their delegation allocations according to their willingness to support the Aurora project and network decentralization.
According to official news, the LTC Foundation announced the launch of a decentralized token creation platform "OmniLite", introducing smart contracts, DAO, tokenized assets, and NFT functions to the LTC network. According to reports, OmniLite is a layered protocol built on top of the LTC blockchain. Tokens created through OmniLite can be considered an extension of LTC. Therefore, the transactions of these tokens are recorded on its blockchain.
Kusama Officially Opens Seventh Slot Auction
According to official news, the Kusama Council voted to pass Motion 350 at 18:20 today, officially opening the seventh slot auction of Kusama. As of press time, the highest bidder was Manta’s Pioneer Network Calamari, which collected a total of 190,490 KSM, followed by Basilisk (77,872 KSM), Centrifuge’s Pioneer Network Altair (47,125 KSM) and Paralle’s Pioneer Network Heiko (35,762 KSM ). At present, the Kusama network has launched 7 parachains, namely the Statemine public welfare parachain allocated to free slots through governance, and Karura, Moonriver, Shiden, Khala, Bifrost, and KILT that won slots through auctions.
Astar Announces Launch of $30 Million Astar/Shiden Ecosystem Growth Fund
DeFi and related infrastructure
DeFi and related infrastructure
Gitcoin Launches 11th Donation Round
The open source software funding platform Gitcoin has launched the 11th round of donations (GR11 Funding Round) on September 8th, and it will end on September 23rd. Gitcoin has launched this round of hackathon page, and the GR11 hackathon will end on September 29.
According to official news, dYdX released a review of Epoch 0. As of 23:00 on August 31, 2021 (UTC+8), the 0th epoch of DYDX will end. Since the release of DYDX and the start of the 0th era, a total of four types of retrospective mining rewards, market-making mining rewards, transaction mining rewards, and USDC pledge mining rewards have been opened in this era (security pledge mining rewards will be opened on September 8) A mining model. Up to now, the dYdX L2 protocol has accumulated more than 36,000 historical service addresses; the cumulative transaction volume has exceeded 19.4 billion US dollars; the highest average open interest is 311 million US dollars, and the TVL indicator is 290 million US dollars. The following is the data breakdown of each mining reward:
1. Retrospective mining rewards: In this era, 75,000,000 DYDX will be distributed to 64,306 addresses through retroactive mining. A total of 50,309,197 DYDX were mined and distributed to more than 50,000 historical account addresses. The remaining 24690803 has not been mined and will be directly transferred to the community treasury.
2. Transaction mining: In this era, 3,835,616 DYDX will be produced through transaction mining rewards. The user who participated in transaction mining during Epoch 0 is address 20460, and the transaction mining is output according to the transaction fee expenditure of the user and the transaction score ratio of the average position.
3. Market maker mining rewards: 1,150,685 DYDX will be mined by market makers in this era.
4. USDC staking rewards: During Epoch 0, the USDC staking pool received more than 142 million USD pledged from 607 accounts. The account earned a total of 383,563 DYDX.
In addition, during the Epoch 0 period, a total of 81,136,566 DYDX (8.11% of the total) were disposable, of which 25,457,506 DYDX (2.55% of the total) belonged to the community treasury; among them, 55,679,060 DYDX ( 5.57% of the total).
The total burned amount of CAKE tokens exceeds the circulating supply
PancakeSwap tweeted that as of now, PancakeSwap has destroyed about 221 million CAKE tokens, exceeding the current circulation. PancakeSwap said: “The gap between them will only get bigger.
secondary title
Layer2
Optimism, Ethereum’s scaling solution: Big news coming next week
Optimism, the Ethereum expansion program, tweeted that major news will be announced next week. Officials, however, did not disclose details.
Optimism, the Ethereum expansion program, said on Twitter that it has discovered a new technology to reduce Gas fees on L2 and will launch it in the next upgrade. In addition, Optimism also stated that before the new technology is launched, at least one document will be released to explain its principle and open the technology for research, hoping that the technology can also be used for other L2 protocols.
Ethereum Layer 2 Expansion Project Arbitrum's Lockup Volume Exceeds $1.5 Billion
According to L2BEAT data, the locked-up volume of Arbitrum, the Ethereum Layer 2 expansion project, exceeded US$1.5 billion, an increase of 2323.75% within 7 days.
Polygon Hermez: Users can now use the official token exchange app to exchange HEZ for MATIC
News Polygon Hermez tweeted that users can now use the official token exchange app (https://heztomatic.hermez.io) to exchange HEZ for MATIC tokens. HEZ holders can use the smart contract (0x0305c18771cD11B36DcfA610BcC8837F814746F1) to convert their HEZ into MATIC tokens, and 1 HEZ can be exchanged for 3.5 MATIC. This token exchange smart contract will be valid for at least 3 years. The team is currently working with the Polygon team to integrate MATIC into the Polygon Hermez zkRollup and will develop an updated version of the consensus mechanism.
NFT
Vitalik Buterin, the founder of Ethereum, published an article "Cross-Rollup NFT Packaging and Migration" in the Ethereum Research Forum, proposing the idea of transferring NFT in the entire second-tier ecosystem.
He said that NFT will be registered in a Rollup, and can be cross-chained in other two-layer solutions by creating Wrapper NFT. The specific process is: in Rollup A, send the NFT to the Wrapper manager contract, specify the target Rollup and the initial owner to lock the contract, then save a record in the storage, and assign a new serial number R to the NFT. In Rollup B, anyone can use the Wrapper manager contract on Rollup B to specify the source Rollup and serial number to create a wrapped NFT. When the NFT is retrieved, the current owner must send it back to the Wrapper Manager, unwrapping it from the original owner with serial number R, source Rollup, and handing the NFT to the new owner. There will be a time delay for NFT retrieval as the Optimistic Rollup state root needs about a 1 week delay to finalize so that the receipt can be verified. So far, the only way to make cross-chains between multiple chains faster is to perform multi-layer packaging
The statistical time of NFT floor price on the OpenSea platform is changed to real-time update
OpenSea product manager Nate Chastain tweeted that the NFT floor price statistics time of the OpenSea platform has been updated from hourly to real-time.
Opensea Releases "Counter Offer Feature"
Opensea releases "Counter-Offers". When the user selects "Counter" in the time-limited bidding column and fills in the counter price, the bidder will receive an email reminder.
Axie Infinity's DAU exceeded 1.5 million in August, and the pledge contract is being audited
The NFT game Axie Infinity stated in its August report that Axie Infinity has generated more than $300 million in fees in the past 30 days, more than any other encrypted product, and it is also the number one NFT product in 30-day transaction volume, The total amount amounted to 770 million US dollars. At the same time, DAU (daily active users) also exceeded 1.5 million in August, almost doubling from 800,000 in July. Additionally, Axie Infinity’s upcoming combat system, Battles V2 (Axie Infinity: Origin), is working on a launch plan and the staking contract is being audited.
Rarible DAO Demonstrates Programmable NFT Royalty Smart Contract
Rarible DAO has launched a system that allows royalties to be programmed directly into NFT’s smart contracts. Content creators still earn royalties every time they resell their work. Rarible DAO explains the concept with a tutorial, including a file in the ERC-721 contract and setting parameters to enable defined royalties to be passed through the NFT. (Be in Crypto)
Alpha Finance Lab launches Alpha Buy Wall, an auction platform for NFT floor price bidding
Alpha Finance Lab, a cross-chain DeFi platform, launched Alpha Buy Wall, an auction platform for NFT floor price bidding. The platform currently supports 6 projects: Loot, Bloot, Pudgy Penguin, 0N1 Force, Cool Cats, and Mutant Ape Yacht Club. Alpha Buy Wall conducts auctions in the form of call auctions, allowing instant buying and selling, no slippage, and no fees other than Gas fees.
According to Polymarket’s official Twitter news, the prediction market platform Polymarket recently launched the NFT floor price market, allowing users to conduct long-short transactions on the floor prices of NFT projects such as CryptoPunks, Blitmap, Bored Ape Yacht Club and Loot without holding NFT . There is no minimum standard limit, and a 0.1% transaction fee is charged.
Sotheby's website BAYC auction transaction price reached 24.393 million US dollars
101 Bored Ape Yacht Club BAYC NFT created by Yuga Labs (a collection of 107 NFTs, including 3 bottles of M1 mutant serum and 3 bottles of M2 mutant serum) was auctioned on Sotheby’s website, and the transaction price reached 24.393 million US dollars, much higher than Sotheby's estimated the highest transaction price is 18 million US dollars. Yuga Labs' 101 Bored Ape Kennel Club BAKC (a collection of 101 NFTs) was sold at a price of US$1.835 million, which did not exceed the estimated price range (US$1.5 million-US$2 million).
First 'Test' NFT Minted by FTX Founder SBF Sells for $270,000
security incident
security incident
A bug on OpenSea, the NFT marketplace, damaged at least 42 NFTs worth at least $100,000. The issue was first brought up by Nick Johnson, the lead developer of the Ethereum Name Service (ENS), who noted that when he transferred an ENS name (in the form of an NFT), it was transferred to a burn address. This means it was accidentally sent to an address that no one controls and can no longer be moved. Regarding the destroyed ENS domain name, Johnson stated that it was the first registered ENS domain name named rilxxlir.eth, which was held by an ENS account when Johnson registered it with personal funds. In order to transfer the ENS domain name to his own account, he went to OpenSea to perform the transfer operation, only to find that it was mistakenly sent to a destroy address.
Slow Mist: The Zabu Finance project on the Avalanche chain suffered a flash loan attack
On September 12, the Zabu Finance project on Avalanche suffered a flash loan attack.
