* USDT

secondary title

Part.2 Industry Pulse

Tether completed the additional issuance of 120 million USDT, and pre-issued another 500 million USDT

The Beijing Chain's Chainsmap monitoring system found that on the afternoon of August 6, Beijing time, Tether added 500 million USDT to the ERC20 USDT pre-issuance pool. This means that once the instruction is finally executed, the additional issuance of 500 million ERC20 USDT will be completed directly. However, judging from Tether’s previous similar large-scale additional issuance, it is more for switching between different standards of USDT, so it cannot be ruled out that this is a preparation for switching from other standards of USDT to the ERC20 standard. In the evening of the same day, Tether completed the additional issuance of 120 million ERC20 USDT, of which 100 million USDT flowed into the Binance Exchange through the intermediate address.

22 Blockchain Projects Have Signed Up for Reddit's Ethereum Scaling Proposal

* ETH expansion

Evan Van Ness, a former member of the Ethereum development studio ConsenSys, said on Reddit that 22 blockchain projects have signed up for the Reddit scalability solution competition. These include StarkWare, Dragonchain, Matic Network, Solana, Everest, xDai and Splunk, OMG Network, NEAR, Fuel Labs, Raiden, Connext, Arbitrum, Aztec, MatterLabs, Abridged and Kchannels, SKALE, Syscoin, Meter, Dapp Solutions, Hubble Project , Minter and Celer.

* Ethereum Trust

* Borrowing

Grayscale Investments, a cryptocurrency asset management company, announced that it has submitted a registration application to the US Securities and Exchange Commission (SEC). Digital currency investment vehicle for declaring company status.

Encrypted lending service provider Genesis Capital has disbursed nearly $8.4 billion in loans

* DeFi

* Borrowing

Genesis Capital, a cryptocurrency lending service provider, released its second-quarter operating report. The report shows that the company's spot transaction volume reached US$5.2 billion, an increase of US$1.2 billion from the first quarter. In terms of loan business, more than US$2.2 billion in loans was added, a year-on-year increase of 324%, a quarterly high. Active loans outstanding rose 118% from the first quarter, and cumulative origination increased for the ninth consecutive quarter, bringing total originations since March 2018 to $8.4 billion.

*  AMM

Hakka Finance released the white paper of BlackHoleSwap, an AMM-based decentralized stablecoin flash swap tool

Hakka Finance released the white paper of BlackHoleSwap, a decentralized stablecoin flash swap tool. BlackHoleSwap is a decentralized stablecoin flash swap tool based on an automated market maker (AMM) designed by the HAKKA team for stablecoins.

* crypto

secondary title

Part.3 Investment and financing events

Encrypted venture capital firm Electric Capital completes a $110 million fundraising fund and will focus on businesses such as encrypted networks and blockchain

Cryptocurrency venture capital firm Electric Capital announced the completion of a $110 million fundraising round. Investors include many undisclosed institutional investors, including university endowments, and will focus on encrypted networks and blockchain businesses. This is the firm's second fund.

Crypto hedge fund Neural Capital shuts down after losing half of its money

* DeFi

* closure

IOSG VC:

Crypto hedge fund Neural Capital has lost half of its capital and is returning the rest to investors. Neural Capital's crypto assets were liquidated in December, with some cash still held in custody.
ETH Lite: Reflexer Labs raises $1.7M to build a somewhat stable coin for DeFi
The DeFi project Reflexer Labs completed a $1.68 million seed round of financing led by Paradigm. Standard Crypto, Compound founder Robert Leshner and a16z former partner Jesse Walden's new encryption venture capital firm Variant Fund participated in the investment. Reflexer Labs is creating rai (RAI), a new asset designed to track slow ethereum price movements, providing DeFi with a price-stable yet decentralized collateral asset.

"Stable currency" has always been an "anchor token". For example, DAI is equivalent to a bond whose redemption price remains unchanged (1DAI=1USD) and the market price fluctuates in real time. The unchanged redemption price actually limits the system that can be used to influence stable currency. Economic incentives for market prices, one of which is the implementation of negative interest rates for all token holders. A famous recent example of a stablecoin struggling to maintain its peg is MakerDAO’s DAI. During Black Thursday, the price of DAI surged 10% above its expected anchor of $1. To combat this, governance token MKR holders had to reduce stability fees and savings rates to close to zero. Even with these big moves, DAI is still above the pegged exchange rate. Many people in the Ethereum community are also discussing why the interest rate of DAI cannot be negative. There are two obstacles to the adoption of negative interest rates for Maker:

* token

1. Maker has always had an indirect method of imposing negative rates: reducing the daily target price to 99 cents or 98 cents to mimic negative interest rates. But this mechanism is currently dormant (not in the Maker white paper). This way of regulating the redemption price actually destroys the simplicity of 1 Dai being equal to 1 USD.

IOSG VC:

2. Opposition from community users: Many people with stable assets see interest as a just reward for saving. To them, negative interest rates are nothing more than confiscation.

Republic Skips SEC Red Tape, Raises $16M in Security Token Sale

Crowdfunding platform Republic has successfully raised $16 million through the sale of the dividend token Republic Note. The company raised $11 million in a Reg D offering and an additional $5 million from non-accredited investors in a pending Reg A+ offering.

So far, the net asset value of the global primary market has increased by 7.5 times, which is more than twice that of the secondary stock market in the same period. At the same time, the timeline for the company's listing is constantly being delayed, and it is difficult for ordinary shareholders to make profits through investment and invest in the company's rapid growth in valuation. Due to the traditional elitist rules, more than 92% of ordinary Americans are excluded from these private equity investments, and investors from other countries will not be able to know the news that the company is raising funds due to information asymmetry. And these primary market investments are precisely an important tool for wealth creation. Now, Republic Note will give everyone access to these private markets. In May 2016, the U.S. Securities and Exchange Commission (SEC) enacted Title III of the Jobs Act, allowing a large portion of the U.S. population to invest in startups for the first time. But complex legal requirements call for a platform that is both founder- and investor-friendly to make real startup investing a reality.

CryptoKitties creator Dapper Labs raises $12M for consumer-focused Flow blockchain

* Flow Blockchain

CryptoKitties creator Dapper Labs has raised $12 million in funding from NBA stars and others to build its consumer-focused Flow blockchain to support digital collectibles. The company aims to enable users to own the digital goods they collect, with the guarantee that the items are authentic.