| ConsenSys director proposes to cut ETH block rewards by 75%; YFI soars 37%, breaks through 9000USDT

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headlines

The managing director of ConsenSys proposed to reduce the ETH block reward to 0.5 ETH, and miners responded indifferently

John Lilic, managing director of Ethereum development company ConsenSys, recently submitted the EIP-2878 proposal, which aims to reduce the Ethereum block reward from the current 2 ETH to 0.5 ETH. The design of this proposal is mainly based on inflation considerations, that is, compared with other public chains, developers worry that the newly issued ETH will make the inflation rate of Ethereum too high. If EIP-2878 is adopted, this will be the third block reward reduction since the Byzantine upgrade (5→3ETH) and the Constantinople upgrade (3→2ETH). For now, however, ethereum miners have shown a lukewarm response to the proposal. (CoinPost)

digital currency

digital currency

Data: Adjusted total on-chain transactions of BTC and ETH reached $90.1 billion in July, a new annual high

Data: Adjusted total on-chain transactions of BTC and ETH reached $90.1 billion in July, a new annual high

The Block Research analysis pointed out that in July, the adjusted total on-chain transactions of Bitcoin and Ethereum hit a new annual high, reaching a total of 90.1 billion US dollars. Most of the increase in transaction volume in July can be attributed to the large increase in Ethereum transaction volume, which increased by 50.0% from $16 billion in June to $24 billion in July. Meanwhile, Bitcoin’s on-chain transaction volume rose 6.8% to $66.1 billion in July from $61.9 billion in June. (The Block)

Filecoin large miner test may be postponed until September

Previously, Filecoin officials stated in a community conference call held on August 11 that the large miner test will start on a certain day in the week of August 17. However, a large number of miners in the Slack community said that since the Calibration testnet was restarted, many miners were unable to join the testnet; problems such as preventing DDoS attacks from causing the dispatch bot to paralyze have not been properly resolved, and the test of large miners may be postponed to September. (Deep Chain Finance)

Polkadot will start transfers at around 00:40 on August 19, Beijing time at the earliest
Yesterday, the Web3 Foundation officially stated:
1. Polkadot will start the transfer at block height 1205128, the earliest time is 16:40 UTC time on August 18, that is, 00:40 Beijing time on August 19;
2. Polkadot will split DOT at block height 1248328 (1:100). The earliest time is 16:40 UTC time on August 21, that is, 00:40 Beijing time on August 22.

The Web3 Foundation emphasizes that it is estimated that the above-mentioned block generation time will be 3.5 hours later than the original time, please refer to the actual block height for details. Also, be sure not to actively "split" DOT before renaming DOT (old) to NEW DOT (i.e. before approximately August 21st).

The Ethereum Improvement Proposal EIP-2876 tries to optimize the gas consumption in the exchange deposit process

Bitcoin technology enthusiast Jonathan Underwood proposed an improvement proposal EIP-2876 for Ethereum, trying to optimize the recharge process of centralized exchanges and reduce the overall Gas consumption. The document points out that a wallet application compatible with EIP-2876 can send ETH to a compatible deposit system to reduce the overall Gas consumption of the Ethereum network, because two transactions cost 42,000 Gas, but a simple ETH forwarding contract only costs About 30,000 Gas. And for this deposit system, all deposits can be directly forwarded to the cold wallet of the exchange, and manual operations are not required to collect deposits from multiple external accounts.

Curve Becomes Third DeFi Protocol With $1 Billion Total Locked Value
After Aave's total lock-up value exceeded $1 billion, Curve became the third DeFi protocol with a total lock-up value of $1 billion.
Curve was forced to launch its governance platform and native token CRV early last week after an anonymous developer deployed a smart contract without the knowledge of the Curve team. Since then, the platform has seen a massive inflow of capital deposits as users attempt to earn CRV token rewards.

Robinhood completes $200 million in Series G funding, raising valuation to $11.2 billion

Andre Cronje, the founder of yearn, 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: Insurer Vaults, Insured Vaults and Claim Governance. The insurance service of the insurance vault is provided by the liquidity provider (LP), but the related fees can be obtained as income. The first insured vault to go live is USDC, and the first insured vault to be offered is yUSD (wrapped yCRV) assets in yVault.

Investment and Financing

Robinhood completes $200 million in Series G funding, raising valuation to $11.2 billion

Stock and cryptocurrency investing app Robinhood has raised $200 million in Series G funding, with D1 Capital Partners becoming its latest investor. Robinhood just closed a $320 million Series F+ round about two months ago at a valuation of $8.6 billion, and with the latest round, the company’s valuation has risen to $11.2 billion. (The Block)

Stock and cryptocurrency investing app Robinhood has raised $200 million in Series G funding, with D1 Capital Partners becoming its latest investor. Robinhood just closed a $320 million Series F+ round about two months ago at a valuation of $8.6 billion, and with the latest round, the company’s valuation has risen to $11.2 billion. (The Block)

Pantera Capital's Pantera Venture Fund III has raised about $165 million
A document filed with the U.S. Securities and Exchange Commission (SEC) on Friday showed that Pantera Venture Fund III, a fund owned by cryptocurrency venture capital firm Pantera Capital, has received $164.7 million in private placement funds from nearly 200 investors. The figure is nearly $60 million higher than the fund's last filing with the SEC. It is reported that Pantera originally hoped to raise $175 million for Venture Fund III.

Additionally, Pantera revealed in a blog post that the fund will primarily invest in infrastructure, finance and trading in the digital asset space. (CoinDesk)

DeFi platform Mantra DAO raises $5.9 million via IMO
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global policy

global policy

Xiongan Regulatory Sandbox Project Released: Expropriation and Resettlement Fund Management Blockchain Information System Listed

Recently, the Shijiazhuang Central Sub-branch of the People's Bank of China released the announcement of the pilot application of financial technology innovation supervision in Xiong'an New District, Hebei (the first batch in 2020), and publicly solicited opinions from the public on five applications to be included in the financial technology innovation supervision pilot. From the perspective of technology use, three of the five innovative applications, including the blockchain information system for relocation and resettlement fund management, involve blockchain technology. (The Paper)

V God: I once sold 30,000 ETH at around $700, and I have never bought BTC since 2017

Character·Voice

V God: still worried about whether the bitcoin anchor currency is trustworthy

On August 17, V God tweeted that he was still worried about whether Wrapped BTC (WBTC), the anchor currency of Bitcoin, was trustworthy. Hopefully these tokens will at least migrate to a decently sized multisig.

V God: I once sold 30,000 ETH at around $700, and I have never bought BTC since 2017

On August 17, V God responded to the question of "how much ETH was sold" by Twitter netizens, saying that he had sold 30,000 ETH at a price of around $700, and also donated 45,000 ETH. The Ethereum Foundation sold 70,000 ETH (another reply stated that the price was around $1,200), and this money has been used for development and project funding. In addition, V God also said that he has never bought BTC since 2017.