ETH Weekly | Boxing champion Tyson hints that NFT may be launched on Ethereum; OpenSea has a vulnerability and damages an NFT worth $100,000 (9.6~9.12)

Author | Qin Xiaofeng

Editor | Hao Fangzhou

Produced | Odaily

1. Overall overview

Author | Qin Xiaofeng

secondary title

Second, the secondary market

1. Spot market

In terms of the secondary market, the current ETH price may pull back slightly in the short term, with a support level of $3,100 and a resistance level of $3,500.

(ETH daily chart, picture from OKEx)

Second, the secondary market

According to OKEx market data, the price of ETH once fell to US$3,000 last week, and closed at US$3,416 during the week, a month-on-month decrease of 12.5%.

image description

(ETH daily chart, picture from OKEx)

2. Fund flow

OKlink data(BiNuNiu)

OKlink dataOKlink data

3. Ecology and technology

1. Technological progress

V God proposed the idea of ​​cross-Rollup NFT packaging and migration of NFT in the second-layer ecological transfer

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.
3. Ecology and technology

2. Voice of the Community

1. Technological progress

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.

3. Project trends

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 quickly cross-chain between multiple chains is to perform multi-layer packaging.

2. Voice of the Community
Standard Chartered Bank report: more optimistic about Ethereum than Bitcoin, predicting its price will be as high as $35,000

British banking giant Standard Chartered released its first report on cryptocurrencies on Tuesday, emphasizing a bullish view on bitcoin and ethereum, but a more optimistic stance on the latter. The report mentioned that Ethereum is more like a "financial market" in which transactions such as lending, insurance and exchange can be carried out. Bitcoin, on the other hand, is more akin to a "currency," according to the global research team that wrote the report. Therefore, given the wider use cases of Ethereum compared to Bitcoin, Standard Chartered believes that over time, the total market capitalization of ETH will catch up with BTC. The bank’s long-term valuation range for Bitcoin is $50,000-$175,000, while Ethereum’s price range is $26,000-$35,000. The report states that for Ethereum to reach this price level, Bitcoin would first need to trade at $175,000. The bank believes that "the current price reflects the relative complexity of ETH (relative to BTC) and the uncertainty surrounding the development of ETH. In other words, although the potential return of ETH may be higher than that of BTC, the risk is also higher." (The Block)

3. Project trends

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.

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.

According to previous reports, Polygon acquired ZKRollup-based Ethereum scaling solution Hermez Network for $250 million. It is reported that the two projects merged their native tokens MATIC and HEZ (swap ratio is 3.5 MATIC: 1 HEZ), which is the first transaction of its kind in the crypto space. Polygon said that Hermez's products will be merged into Polygon, and the new project will be named "Polygon Hermez". As part of the deal, 26 Hermez employees will also join Polygon's 80-person team. Antoni Martin, head of business development at Hermez Network, said that as part of Polygon, Hermez will focus on developing zkEVM technology to provide native smart contract scalability within ZKRollup.

(3) Optimism: Discovered a new technology to reduce Gas costs on L2, which will be launched in the next upgrade
Note: Eden Network is a project initiated by the Archer DAO team. The team raised $1 million last year through the ARCH token sale. EDEN tokens now represent a technological upgrade to ARCH tokens, and ARCH holders can upgrade 1:1. In addition, Eden Network was officially launched in early August, aiming to resist malicious MEV attacks. (The Block)

4. Borrowing

DefipulseOptimism, 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.

(4) Eden Network, the Ethereum priority transaction network, completed a seed round of financing of 17.4 million US dollars, led by Multicoin Capital

4. Borrowing

(data from etherchain.org)

etherchain.orgFrom the perspective of individual projects, the top three lock-up values ​​are: Aave $15.66 billion; Maker $13.09 billion; Instadapp $12.86 billion.

4. News

5. Mining

image description

(data from etherchain.org)

The data shows that the average computing power increased by 3.6% month-on-month, temporarily reporting 710TH/s, and the computing power reached a new high; the average mining difficulty increased by 4.1% month-on-month, temporarily reporting 9029T; affected by the NFT boom, the activity on the chain rose by 4.4% month-on-month, Total mining revenue increased by 2% month-on-month.

4. News

(1) The proportion of DEX aggregators on Ethereum in the total decentralized transactions hit a new low, only 1.7%

According to Dune Analytics data, the proportion of DEX aggregators on Ethereum in the total decentralized transactions hit a new low, only 1.7%, and this proportion still reached 22.8% on September 2. At present, the transaction volume generated by users directly using the decentralized trading platform without going through the aggregator accounts for as high as 98.3%.

(2) Data: Ethereum L2 transaction processing volume exceeds Bitcoin

Adoption of the Ethereum Layer 2 (L2) scaling protocol has risen again in recent months as gas prices have climbed again. Data shows that the L2 ecosystem is now processing a greater number of daily transactions than the Bitcoin network. Evan Van Ness, industry analyst and founder of Week In Ethereum News, tweeted that CoinMetrics data shows that on September 6, the Ethereum Layer 2 protocol processed about 250,000 transactions, while the Bitcoin network processed 210,000 transactions. . StarkWare processed the most transactions during this period, handling about 143,000 transactions across multiple DeFi platforms (dYdX exchange and L2 NFT platform Immutable X, etc.). (Cointelegraph)