During the week from July 4th to July 10th, the events worthy of attention in the progress of star projects are as follows:Polygon Hermez will launch zkEVM soon；Aave Community Proposal to Create Collateralized Stablecoin GHO；StarkNet, the Ethereum Rollup expansion plan, will perform a state reset；Voyager Digital has filed for bankruptcy protection, expecting more than 100,000 creditors；Crypto lending platform Celsius Network has reshuffled its board；DeFi income aggregator Yearn launches NFT project treasury management tool NFTreasury；STEPN will build Realm 3 on Ethereum and call it "APE Realm", minting will start soon；The blockchain horse racing game Zed Run will issue Token ZED and airdrop it to users。
Bottom-Layer1
Bottom-Layer1
According to the latest data from jed.tequ.dev, Ripple’s first CTO Jed McCaleb only has 50,050,176 XRP left in his wallet, which is about $16,413,154.4. Historical data shows that Jed McCaleb's wallet still held about 81.53 million XRP on June 30, which means that he sold more than 30 million XRP in the past week. If calculated at this rate, Jed McCaleb's eight-year The XRP sell-off will end within July.
The Flow mainnet already supports censorship-free smart contract deployment
Flow announced that the main network has supported the deployment of smart contracts without review, that is, anyone can test smart contracts on the test network and deploy them to the main network without review. This support for smart contract deployment without review benefited from the official deployment of Secure Cadence to the mainnet on June 15.
Permissionless deployment has been one of the core team's priorities, Flow said. Previously, as both the protocol and Cadence (Flow's native smart contract programming language) were in their infancy, a mainnet review process needed to be established as a checkpoint to ensure the security of the network. According to Flow, censorship-free smart contract deployment is just one of many ways the Flow ecosystem is growing and creating opportunities.
Sam Harcourt, Asia Business Director of the Fantom Foundation, released a new proposal in the Fantom community. The proposal suggests that 1/3 of the transaction fees that were originally destroyed should be used to set up a treasury to support ecological projects.
Fantom’s Special Fee Contract (SFC), which was originally used to distribute rewards to stakers and delegators on the network, will be used to keep funds. If the proposal is passed, the Fantom Foundation will pay grants through on-chain transaction automation services such as LlamaPay. The Fantom Foundation also stated that it will create its own automatic payment function for the treasury. The proposal was launched for voting on July 5.
Harmony's official Twitter said that at present, arbitrage robots are sending spam to the network through multiple transactions. In order to help the ONE community to unblock the network, the community proposes to limit the block gas to 30M, and proposes to increase the gas fee by 70%, and increase the maximum gas to 1000 gwei. The proposal is currently under review and has not yet been implemented.
The Cardano development team, Input Output, tweeted: “The IOG (Input Output Global) team has successfully hard forked the Cardano testnet. This is an important step for the Vasil upgrade on the mainnet. SPO, developers building on Cardano and Exchanges begin their final testing and integration process. Projects need to check for backwards compatibility, and SPO needs some script tweaks.”
Bottom-Layer2
Layer 1 blockchain protocol Rubix receives $100 million in financing from LDA Capital
Rubix Blockchain Pte Ltd (Rubix) announced that it has secured US$100 million in financing from LDA Capital Ltd to grow its global business, support the transition to Web3, and expand its green blockchain community.
The investment will support Rubix in optimizing growth in the Web3 space, expanding educational opportunities, policy development, and the transition from Web2 to Web3, enabling its partners to build a variety of applications on the platform, including addressing social and environmental issues. The new financing will also be used to increase internal operations, including hiring from around the world to support the expansion of the ecosystem.
It is reported that Rubix is a Layer 1 blockchain protocol for peer-to-peer data transmission and transactions. (Business Wire)
Bottom-Layer2
Polygon Hermez will launch zkEVM soon
Hamzah Khan, head of Polygon DeFi, tweeted that Polygon Hermez will soon launch zkEVM, and applications on the Polygon POS chain and the Ethereum mainnet will be easily deployed on Polygon Hermez.
The Ethereum Rollup expansion plan StarkNet will reset the state and restart on the Ethereum mainnet
StarkNet said that because a new leaner StarkNet Alpha version will be deployed, starting over with a new state. This means that in the new instance, all contracts and accounts need to be redeployed, and assets need to be migrated from the old StarkNet Alpha to the new one.
StarkNet said that because a new leaner StarkNet Alpha version will be deployed, starting over with a new state. This means that in the new instance, all contracts and accounts need to be redeployed, and assets need to be migrated from the old StarkNet Alpha to the new one.
According to the official Twitter, the NFT Layer 2 solution Immutable X has cooperated with the cryptocurrency payment service provider MoonPay to launch the ETH offramp function. Developers can directly sell Ethereum on L2 as legal currency. Developers of platforms based on Immutable X can use this function embedded in the platform. Currently, this feature is only available to users in the US, UK, and Europe, and it will be launched on the Immutable X Marketplace in the third quarter.
Ethereum Privacy Layer 2 Solution Aztec Launches DeFi Privacy Bridge Aztec Connect
Aztec, the Ethereum privacy Layer 2 solution, announced that Aztec Connect, a bridge that provides privacy protection for DeFi transactions, is now live on the mainnet, allowing users to privately connect to Ethereum's DeFi ecosystem, including applications such as Uniswap, Lido, and Aave. (CoinDesk)
Ethereum expansion project AltLayer will airdrop OG badge NFT on July 28
infrastructure components
infrastructure components
Lido launched the LUNA Classic unstaking process, which will be carried out in four stages
Lido Finance announced that it has launched the LUNA Classic unstaking process, which will be carried out in four stages. In the first phase, from July 4th to 18th, users can make withdrawal requests and use wallets to sign transactions. In the second phase, from July 18 to August 12, the agreement will unstake bLUNA and stLUNA. The third stage is from August 12th to August 26th. Users who apply can apply for the released LUNA tokens (now LUNC). In the fourth stage, on August 27, Lido will close the UI. According to Lido, it takes up to 24 days to claim the tokens after submitting the application.
Web3 storage solution Bundlr Network will launch a testnet within a week
secondary title
CeFi
Circle: 80% of USDC reserves are U.S. Treasury bills, and 20% are cash in the U.S. banking system
Watcher.Guru tweeted that Circle stated that 80% of its USDC reserves are US Treasury bills and 20% are cash in the US banking system.
Voyager Digital has filed for bankruptcy protection, expecting more than 100,000 creditors
Voyager Digital, which filed for Chapter 11 bankruptcy in the Southern District of New York on Tuesday, is expected to have more than 100,000 creditors and assets between $1 billion and $10 billion. The company believes that "the funds will be available for distribution to unsecured creditors," the documents show.
Currently, Voyager has sent notice to the Toronto Stock Exchange (TSX) that the company will voluntarily delist its common stock from the TSX.
Crypto lending platform Celsius Network has reshuffled its board
Crypto lending platform Celsius Network has restructured its board of directors to stabilize its liquidity and operations amid the ongoing crypto bear market, according to a regulatory filing Wednesday.
Treasurer David Barse and Alan Jeffrey Carr were appointed directors on June 28 and June 29, respectively. Barse is founder and CEO of index firm XOUT Capital and founder of private family office DMB Holdings. Carr is CEO of Drivetrain, a fiduciary services firm that has led complex restructurings and litigation, and managed distressed investment portfolios. The two executives serve as directors alongside Celsius co-founders Alex Mashinsky and Shlomi Daniel Leon.
Documents filed on Wednesday also show Celsius Network terminated the directorships of Gilbert Nathan, John Stephen Dubel and Laurence Anthony Tosi late last month. (Blockworks)
BlockFi: 50% of client funds held as short-term positions, 10% as collateral
News BlockFi sent an email to users on Wednesday night saying that while BlockFi is responding to market volatility, it continues to put risk management first.
It confirmed that “100% of retail client withdrawal requests” were honored, while only 10% of client funds were held as collateral. 50% of the funds are held in the form of short-term positions, and the rest may be long-term loans to third parties that generate income.
The company also clarified that it has never done business with Celsius and has not engaged in “speculative betting” on DeFi protocols.
Blockchain.com Faces $270M Loss for Lending to Three Arrows Capital
Cryptocurrency trading platform Blockchain.com faces $270 million in losses for lending to Three Arrows Capital. Blockchain.com CEO Peter Smith stated in a shareholder letter on June 24 that Blockchain.com remains liquid and solvent, and customers will not be affected.
According to previous news, Blockchain.com, a creditor of Three Arrows Capital, stated on July 1 that it has applied to liquidate all assets of Three Arrows Capital and is cooperating with the court's investigation of the troubled encryption hedge fund. (Coindesk)
Encrypted lending platform Vauld suspends platform withdrawals, or will undergo restructuring
Darshan Bathija, CEO of Singapore-based crypto lending platform Vauld, said Vauld was struggling financially due to a combination of factors including market turmoil and financial difficulties of business partners. Vauld has decided to immediately suspend all withdrawals, transactions and deposits on the platform.
secondary title
DeFi
According to official news, the Aave community released a request for comments (ARC) proposal, proposing to the DAO to introduce a local decentralized, mortgage-backed stablecoin GHO linked to the US dollar to allow users to use the collateral they provide to mint GHO. GHO will be backed by a diverse range of crypto assets of the user's choice, while borrowers continue to earn interest on their underlying collateral. Aave Governance is responsible for decisions related to the GHO. 100% interest payments on GHO borrows are sent to the DAO, generating additional income for the Aave DAO.
DeFi income aggregator Yearn launches NFT project treasury management tool NFTreasury
Yearn, a DeFi income aggregator, announced the launch of NFTreasury, a treasury management tool for NFT projects. This tool converts the short-term funds required by the project into Ethereum and USDC, and the long-term funds are stored in the Yearn Vault to generate income.
Shiba Inu Plans Decentralized Stablecoin, Reward Tokens, and Collectible Card Game
Shytoshi Kusama, the lead developer of SHIB, revealed in a post that he plans to expand the Shiba Inu ecosystem with a decentralized stablecoin SHI, a reward token TREAT, and a collectible card game for the Metaverse.
The specific operating mechanism of the decentralized stablecoin SHI was not disclosed, but it is planned to be launched later in 2022. TREAT is an upcoming rewards token from the SHIB metaverse that will be associated with the Shiba collectible card game, and will also help provide balance to Shiba Inu’s stablecoin. Shytoshi Kusama did not disclose the specific operation method of TREAT, but said that the supply of TREAT is limited.
As part of this initiative, developers are developing the ecosystem’s own second-layer protocol, Shibarium, which will support the deployment and development of native applications, including the gas token BONE. The team is separately building a metaverse project with 100,000 plots of land as virtual real estate, and the collectible card game will be launched in the Shiba metaverse. (CoinDesk)
The $5.5 million DAO strategic financing proposal initiated by Gearbox, a DeFi composable leverage protocol, was approved with a support rate of 99.49%.
As previously reported, the Gearbox community initiated a proposal for a $5.5 million DAO strategic financing at a fully diluted valuation of $150 million. The institutions currently planning to invest include Placeholder, A.Capital Ventures, Galaxy Digital, Zee Prime Capital, Polymorphic Capital, LedgerPrime, Global Coin Research, the amount of committed investment has reached 5.65 million US dollars.
In addition, Gearbox also announced more details of the upcoming V2 version. The V2 version will add support for multiple assets for leveraged users, as well as new protocol integration, as well as support for leveraged stablecoin mining and leveraged mining Lido stETH , cross-collateralized leveraged positions, etc.
The decentralized currency mixing protocol Tornado.cash has the first proposal rejected by the community. The proposal hopes that 50,000 TORN will be auctioned for 14 days at a discount of 20% of the 1inch market price. This part of tokens needs to be locked for 1 year after purchase, but enjoys pledge income and voting rights.
Ron, the founder of WePiggy, a lending market protocol, commented on this: “At the proposal discussion stage, some community members made it clear that this proposal is unreasonable. Considering that the current revenue of TORN staking mining has double-digit APY, a 20% discount is exchanged for one year. The lockup is simply free, and it is even more suspected that it is the team’s interest transfer or arbitrage behavior, and this proposal will make TORN’s currency price worse in the bear market.”
Ron reminded that other projects may have been quietly passed and implemented in the bear market, so the bear market should be more vigilant against the governance attacks of DeFi projects.
Crema Finance, the Solana ecological liquidity service agreement, issued a compensation announcement for the vulnerability incident, saying that most of the stolen funds have been recovered and the original asset portfolio is gradually being restored. In a few weeks, Crema's full protocol will go live again. Asset security will be the top priority of Crema's future development.
Yam Finance Successfully Stops Governance Attack on Its Reserve Vault
Yam Finance said it blocked a malicious governance attack designed to hand over control of its reserves to an unknown third party. According to an initial report published by Yam DAO, the attack was launched on July 7, but was discovered two days later. Attackers submit governance proposals through internal transactions, making it difficult for community members to detect. The malicious governance proposal included an unverified contract designed to transfer control of Yam’s reserves to an attacker-controlled wallet address. The proposal was initially able to reach a quorum before being blocked by the Yam Finance team, which threatened to pass. If the attack is successful, it would be able to drain the Yam Finance treasury, which currently holds $3.1 million worth of crypto assets, according to DeepDAO. (The Block)
The ZK Rollup order book DEX ZigZag on zkSync, the second-layer solution of Ethereum, will launch Invisib L3, a privacy trading plugin based on StarkNet, allowing users to maintain anonymity when trading on ZK Rollups. Invisib L3 can hide the order, prevent others from tracking the user's address (maker and taker) and amount, and also allow users to hide the source when transferring funds, aiming to become a viable alternative to Ethereum's existing privacy solutions.
NFT
Azuki officially tweeted that the co-founder of Azuki launched a customized Azuki NFT work (Azuki #5899) for Jay Chou inspired by Jay Chou's new album "The Greatest Work".
According to previous news, Jay Chou once showed Azuki #5899 similar to the cover of his "Fantasy" album on Instagram on April 1 this year.
NFT trading platform sudoswap released a new market protocol sudoAMM
The NFT trading platform sudoswap said on Twitter that the new market protocol sudoAMM has been released publicly. Starting today, users can:
1. Create a pool and gradually buy and sell NFT according to the price curve;
2. Provide liquidity for the pool of buying and selling NFT to earn fees;
3. List their NFT directly at a fixed price.
LPs also have full control over the pricing of the pool and can adjust it at any time.
The new pricing model has the following functions: LBP style curve, oracle-based price updates, adaptive transaction fees, etc. Thanks to sudoAMM's modular architecture, new price curves can be added without affecting existing pools or curves.
Reddit Launches Avatar NFT Marketplace
Reddit today launched a new NFT-based avatar marketplace, allowing users to buy blockchain-based profile pictures for a fixed price. Users can purchase with a credit or debit card and store it using Reddit's wallet product. Reddit says 90 different designs are being released, and the total number of NFTs sold during this early access phase is in the "tens of thousands." (Tech Crunch)
Chevrolet's first NFT auction ends with zero bids
There seems to be little enthusiasm for American automaker Chevrolet's first NFT auction, despite its promise of a free 2023 Corvette Z06 (the vehicle is scheduled to be created after the auction and delivered by September 2022). Titled "Own the Color," the NFT showcases a lime green Corvette Z06, created by digital artist Nick Sullo.
The auction took place on June 20 via NFT marketplace SuperRare. According to the auction description page, the starting bid was 206 ETH ($235,550). But in the first phase, from June 20 to June 24, the auction net bids were zero.
game
game
STEPN will build Realm 3 on Ethereum and call it "APE Realm", minting will start soon
According to official news, STEPN announced that it will build Realm 3 on Ethereum and call it "APE Realm".
Through APE Realm, STEPN will integrate brand elements and new communities to explore the personalized possibilities of STEPN. This is also in line with STEPN's mission, which is to become a bridge between Web2 and Web3, and bring the next batch of billion-level users to Web3.
Axie Infinity deployed fixes for Origin, the game is temporarily under maintenance
According to official sources, Axie Infinity said that it is deploying a patch for Origin to fix bugs in the game and change the challenger mode. During this time the game will be in a maintenance state until the update is complete.
The blockchain horse racing game Zed Run will issue Token ZED and airdrop it to users
The blockchain horse racing game Zed Run announced that it will issue Token ZED, and Zed Run horse racing owners will be eligible to apply for ZED Token. The total number of Token ZED is 1 billion, of which 7% of Tokens (70 million) will be airdropped to game users. The snapshot was taken on June 1.
security incident
security incident
DAO Decentral Bank, which issued NEAR’s native Stablecoin USN, fixed a USN contract vulnerability. This vulnerability occurred when the user used USN to exchange for USDT through Decentral Bank. If there is no USDT in the user’s wallet, the transaction will fail. At the same time, when the contract refunds The number of chargebacks has been magnified by a factor of 1 trillion due to counting errors. When a user exchanged 5 USNs for USDT, the contract refunded nearly 10 trillion USNs after two attempts due to a bug. Currently, Decentral Bank has deployed a fix and destroyed redundant USNs. (The Block)
NFT financialization protocol OMNI was attacked, caused by NFT reentry
According to BlockSec, the decentralized NFT financialization protocol OMNI was attacked, and the attacker used the ERC721 reentrant liquidation function. Due to a problem with OMNI's liquidation logic, the attacker's debt was incorrectly emptied after the liquidation, so the attacker could profit. The stolen funds have been transferred to Tornado.cash.
PieDun: The POAP of multiple users' MetaMask wallets was stolen
PeckShieldAlert tweeted that the POAP of the encrypted wallet MetaMask of multiple users was stolen, and PeckShield Alert reminded users to revoke all POAP approvals for interacting with the NFT market Eporio.
