Overseas Weekly | MakerDAO will launch a debt auction on March 19; Argent received $12 million in Series A financing, led by Paradigm (3.9—3.15)
Produced by Odaily
Author | Wang Ye
Editor | Hao Fangzhou
Produced by Odaily
Last week, the market plunge triggered a tide of liquidation in the DeFi market. On March 12, the total liquidation amount in a single day was close to 30 million US dollars. In addition, the sharp drop in the price of ETH also caused serious congestion in Ethereum, and the gas fee for DEX transactions was too high. , Many DeFi platforms have announced countermeasures: MakerDAO announced the auction of MAK to deal with $4 million in "bad debts". In order to deal with excessive gas fees, dYdX announced that it would temporarily increase the minimum transaction volume to 25 ETH/5000 DAI.
The following is the progress of overseas projects and overseas financing events:
Star Project Progress
The following is the progress of overseas projects and overseas financing events:
Star Project Progress
MakerDAO debt auction to start March 19
MakerDAO debt auction to start March 19
The auction will proceed as the first MKR bid starts at 200 Dai, and a total of 250 MKR (representing 50,000 Dai) will be sold. The next auction also corresponds to 50,000 Dai, but the bidder can only get 230 MKR, which is equivalent to a price of 217 Dai/MKR. If no one bids 250 MKR for the first auction, the auction will restart three days later, with 50,000 Dai corresponding to 300 MKR, or 166.66 Dai per MKR. Eventually, if there is at least one bid and no one bids higher within 6 hours, the auction ends. Paradigm and Dharma have announced their participation in the upcoming MakerDAO auction.25 ETH / 5000 DAI
In addition, MakerDAO also adjusted voting through multiple risk parameters, reducing the Dai stability fee rate to 0.5%, and increasing the Dai deposit and loan rate difference to 0.5%, which will make the Dai deposit rate (DSR) 0% and reduce the debt ceiling of Sai To 20 million Sai.
dYdX temporarily increases minimum trade volume to
DeFi derivatives trading platform dYdX announced a temporary increase in the minimum transaction volume to: 25 ETH / 5000 DAI. There is still no volume limit for closing positions, and stops will continue to function normally. This is an emergency measure to deal with high gas fees and is not expected to last for long.
Synthetix 2020 Roadmap: Leveraged Trading, Synthetic Futures and Optimistic Rollups will be launched
Synthetix 2020 Roadmap: Leveraged Trading, Synthetic Futures and Optimistic Rollups will be launched
On March 10, the DeFi project Synthetix announced its 2020 roadmap, detailing a series of functions to be launched this year.
In the third quarter, Synthetix will launch Binary Options, Synthetic Futures and Optimistic Rollups.
The Celo platform is still in testing and plans to officially launch the mainnet in April
The Celo platform is still in testing and plans to officially launch the mainnet in April
Decentralized service platform AVA Labs open source platform code base
AVA Labs, a decentralized service platform founded by the famous computer scientist Emin Gun Sirer of Cornell University, announced that it will open source the platform code base to developers around the world. Emin Gun Sirer, CEO of AVA Labs, said, “The release of the AVA codebase concludes the first phase of AVA research and development, and demonstrates a commitment to open source and a decentralized community. With the Avalanche protocol performance and Security improvements, other mainstream cryptocurrencies including BCH have announced plans to incorporate Avalanche or variants. Combining protocols and network models, the AVA platform will span permissioned and non-permissioned networks, becoming the first to serve new blockchains and Digital asset self-service platform."
Solana Token Auction on Coinlist on March 17th
Solana Token Auction on Coinlist on March 17th
Solana, a web-level blockchain project, will launch Coinlist on March 17, 2020, for a token pre-auction. Coinlist official information shows that this auction will sell 8 million SOL tokens. Solana has launched a new token price protection mechanism. After the auction participants mortgage their tokens, they can enjoy up to 90% of the token price protection.
Centralized Lending Platform BlockFi Announces Support for Cash Purchase of Crypto Assets
Tellor completed the upgrade of production cuts, and the inflation rate fell from 140% to 17% in one year
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Investment and financing overview
Please refer to OdailyBTC Weekly Report
Investment and financing overview
Crypto Wallet Argent Receives $12 Million in Series A Funding, Lead by Paradigm
Encrypted wallet Argent received $12 million in Series A financing, led by Paradigm, with participation from Compound founder Robert Leshner and Index Ventures. The company has raised $16 million since its inception in December 2017. Paradigm is a crypto venture fund founded by Coinbase co-founder Fred Ehrsam. It is reported that at the end of 2018, Argent announced the completion of a US$4 million seed round of financing, led by Index Ventures and Creandum.
DeFi VC Framework Ventures Invests $900K in Common Labs and Futureswap
Framework Ventures, a venture capital firm focused on the DeFi field, announced that it has invested $400,000 and $500,000 in Common Labs, a PoS blockchain Edgeware developer, and FutureSwap, a decentralized futures exchange, respectively. According to Framework Ventures co-founder Michael Anderson, the start-up venture capital firm was an early investor in Chainlink and Synthetix and is one of the largest holders of its tokens.
Visibility Blockchain Receives €250,000 Investment from Pires Investments
Investment company Pires Investments announced that it will invest 250,000 euros in Irish private enterprise Visibility Blockchain Limited. It is worth mentioning that although the registered name of Visibility Blockchain contains "Blockchain (Blockchain)", its current main business is artificial intelligence security.
Encrypted custody company First Digital Trust completed $ 3 million in financing, the investor is Nogle Capital
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