Star Project Weekly Report | Yearn Finance lost $11 million due to hacker attacks; 0x completed $15 million in Series A financing (2.1-2.7)
In the week of February 1st to February 7th, the events worthy of attention in the progress of star projects include: Solana inflation is expected to start on February 9th, and the official launch of the Staking web page; Litecoin MimbleWimble privacy protocol code is available for testnet; Privacy The infrastructure NuCypher plans to enter the DeFi field in Q3 of 2021; the decentralized trading protocol Balancer plans to release the V2 version in March; Acala launches the Acala EVM.
Star Project Progress
The following are specific project progress and financing events:
Star Project Progress
According to official news, Solana's official website has officially launched the Staking page. Solana’s inflation is expected to start on February 9th. SOL token holders can now stake through the SolFlare wallet, and they will be able to receive rewards as soon as the rewards start.
According to official news, NEAR Protocol, an open network platform, announced the launch of an ecological funding plan. In the first half of this year, it will support outstanding teams with 1 million USD equivalent tokens to promote NEAR's technology and community. The first batch of funding plans will mainly involve four aspects : Open source public goods, startups, education, and bounties.
Litecoin MimbleWimble privacy protocol code is available for testnet
MimbleWimble developer David Burkett said that Litecoin will soon add MimbleWimble's privacy protocol features. Burkett revealed that the code is now ready for the testnet and will be reviewed on March 15. (Decrypt)
Stellar Releases 2021 Roadmap: Developing Use Cases for Cross-Border Payments and Securitized Assets
Stellar released the roadmap for 2021. The specific strategic content is: 1. Support the robustness and usability of Stellar; 2. Help Stellar become a blockchain that people know and trust; 3. Cultivate and develop cross-border payment and securitization assets Sustainable Stellar use cases.
Privacy infrastructure NuCypher plans to enter the DeFi field in Q3 of 2021
The privacy infrastructure NuCypher (NU) announced on Twitter that it aims to enter the DeFi field in the third quarter of 2021, and more information will be announced soon.
SushiSwap Launches ICO Platform MISO
SushiSwap (SUSHI) announced the launch of the Minimal Initial SushiSwap Offering platform (Minimal Initial SushiSwap Offering, MISO), which allows token creators and communities to issue new tokens, simplifying the process of launching new projects on SushiSwap. Specifically, MISO has created a series of ready-made smart contracts for non-technical founders to choose suitable token issuance methods, including initial issuance, Vault, mining options, etc. The components of the contract include TokenFactory ( A factory to create tokens for projects), pools and escrow options, initial coin offering contracts (including fixed-price crowdsales, batch auctions, and Dutch auction methods), mining, and a Launcher that makes liquidity easy to migrate.
Yearn has completed the additional issuance of 6666 YFI
According to Etherscan, Yearn has completed the casting of 6666 YFI. Previously, the Yearn community had passed a proposal to newly mint 6,666 YFI for purposes such as incentivizing developers.
The decentralized trading protocol Balancer (BAL) announced that it plans to release the Balancer V2 version in March this year, and is currently undergoing an internal audit. The upgrade content or functions of Balancer V2 mainly include that the Vault will apply to all assets added to all Balancer pools, improve Gas efficiency, improve capital efficiency, lower Gas costs and elastic oracles, and protocols managed by the community Fees and license-free, customizable AMM logic, and more. Among them, protocol fees include transaction fees, asset withdrawal fees, and short-term loan fees, which will be determined by governance.
BarnBridge Announces the Release of BarnBridge DAO
On the evening of February 4th, the cross-platform hierarchical derivatives protocol BarnBridge officially tweeted that BarnBridge DAO will be released during its project conference call №10 on February 4th, so the official updated some documents and token distribution charts. After that, the official meeting process will be updated, and the BarnBridge DAO has been released.
The Acala development team announces the launch of the Acala EVM. Its features are: combinable single wallet EVM-Substrate-WASM, unlimited underlying functions, users can use any token to pay Gas fees, low Gas fees, and an on-chain scheduler.
The Polkadot DeFi project Equilibrium launched the Ethereum cross-chain bridge, which can bridge Ethereum and ERC-20 tokens and is fully compatible with the DeFi service suite. This cryptographic infrastructure originally came from Chainsafe, and Equilibrium has slightly modified it to make it more suitable for the project. Specifically, Equilibrium uses Web3 to handle Ethereum contracts instead of Chainsafe's console tools, making the two-way bridge a Possibly, ERC-20 tokens can be freely converted between the Ethereum blockchain.
The total transaction volume of NBA Top Shot secondary market exceeded 50 million US dollars
According to data from the NFT collectibles data statistics website CryptoSlam, the total transaction volume of the secondary market of the NFT game NBA Top Shot based on the Flow chain exceeded 50 million US dollars.
NFT platform Aavegotchi is about to complete the Matic network migration
Security Incident and Follow-up
Security Incident and Follow-up
Yearn v1 yDAI Vault Hacked, Attackers Steal $2.8M
Yearn Finance tweeted that it noticed that the v1 yDAI Vault was attacked. Currently, this vulnerability has been mitigated. A full report will be published at a later date. Banteg, the core developer of Yearn Finance, then said, "The attacker gained $2.8 million, and the vault lost $11 million. During our investigation, the strategic deposit function of v1 DAI, TUSD, USDC, and USDT Vault will be disabled."
Currently, Yearn.Finance is evaluating ways to restore the yDAI pool. Current options include using YFI to create Maker CDPs and cover the deficit, which will be covered through protocol fees. The official reminded that in order to prevent actual losses, users should not take out assets before taking remedial measures.
Firo has destroyed more than 168101.68 FIRO issued in the CVE vulnerability incident last year
The latest official data shows that Firo has destroyed 168101.68037691 FIRO. It is reported that from the Bitcoin CVE-2018-17144 25 incident that occurred in Firo in August last year, the official has made good progress in recovering a large number of tokens (hundreds of thousands of Firo) sent to the exchange. According to the voting results, 93% of the community members agreed to destroy these tokens. The initial loss from this event was 384,400.82 FIRO. After burning and other efforts, the loss is now only 43029.28 FIRO.
Investment and financing overview
Investment and financing overview
Axoni, a blockchain company, has completed an additional $31 million Series B round of financing. Investors include Deutsche Bank, Intel Capital, UBS, Citigroup, Goldman Sachs, JPMorgan Chase, and Wells Fargo. The amount reached 90 million US dollars. (Forbes)
0x Labs, the development team of the decentralized trading protocol 0x, announced the completion of a $15 million Series A round of financing led by cryptocurrency venture capital firm Pantera Capital, Jump Capital, Coinbase Ventures, Blockchain.com Ventures, Nima Capital, IOSG Ventures, DeFi Alliance and other institutions Follow up. 0x Labs previously raised US$24 million through ICO in 2017, and this round of financing is equity financing. The funds are mainly used to invest in and expand the business of Matcha, a decentralized aggregation trading product.
On-chain options protocol Opyn completes $6.7 million in Series A financing led by Paradigm
On-chain options protocol Opyn announced the completion of a $6.7 million Series A round of financing, led by Paradigm, with participation from Synthetix founder Kain Warwick, Aave founder and CEO Stani Kulechov, and Dragonfly Capital. Opyn stated that these funds will be used to further develop the DeFi options agreement Gamma protocol and strengthen the Opyn team.
Swarm, a decentralized storage protocol based on Ethereum, announced that it has completed a $6 million private placement financing. According to the information disclosed by Swarm, investors include Alphemy Capital, Bitscale Capital, DFG, KR1, HashKey, NGC Ventures, The LAO, Leading Capital, etc. In addition, Swarm plans to release version 1.0 in the second quarter of this year.
Blockchain banking group We.trade raises €5.5 million
We.trade, a Dublin-based consortium of global banks developing a blockchain use case, has raised €5.5 million. The group is made up of more than a dozen banks, including Deutsche Bank, Santander, HSBC and KBC, which have all financed the development of the project. IBM is also a supporter. (Silicon Republic)
Crypto custody firm Casa raises $4 million led by Avon Ventures
Cryptocurrency custody company Casa has announced a $4 million seed round led by Fidelity Investments’ blockchain-focused Avon Ventures. Tioga Capital, Castle Island, Cadenza, Champion Hill, Compound VC, Precursor, Lerer Hippeau, and Coinbase Ventures participated. (CoinDesk)
DeFi platform Vesper raised $2.5 million and plans to launch VSP tokens on February 17
Vesper Finance, a DeFi platform focused on ease of use, announced the completion of a US$2.5 million strategic investment round of financing. The investment institutions are strategic partners A195 Capital, CMT Digital, Kenetic Capital, Digital Strategies, HCM Capital, Capital6 Eagle, VeriBlock and TRG Capital, personal investment The participants were Compound founder Robert Leshner, Messari co-founder Ryan Selkis, CoinShares chief strategy officer Meltem Demirors, Tokens.com co-founder Trevor Koverko, CNBC host Ran Neuner, and Harry Yeh from PVQM.
NFT platform Rarible raised $1.75 million, with participation from Coinbase Ventures and others
The NFT platform Rarible has completed a seed round of financing of US$1.75 million, and investment institutions include 1kx, Coinbase Ventures, Parafi Capital, CoinFund and other institutions. Funds from this round of financing will be used to establish a DAO structure for buying and selling NFTs on Rarible. Funds will also be used to research decentralized solutions for buying and selling NFTs. (CoinDesk)
DeFi Derivatives Platform SynFutures Raises $1.4 Million, DragonFly Participates
DeFi derivatives platform SynFutures has raised $1.4 million to launch a testnet for the first version of its synthetic asset trading platform. DragonFly and Standard Crypto participated in this financing. It is reported that the SynFutures market is designed to allow users to launch tokens tied to multiple assets including gold and stocks. (The Block)
Manta Network completes $1.1 million in seed round financing led by Polychain Capital
Manta Network, a privacy DeFi protocol, completed a $1.1 million seed round of financing, led by Polychain Capital, with participation from Hypersphere Ventures, Three Arrows Capital, Defiance Capital, Multicoin Capital, and Alameda Research.
Lending platform Goldfinch is launching a DeFi lending protocol, has raised $1 million
Goldfinch, founded by former Coinbase employees Mike Sall and Blake West, is launching a DeFi lending protocol for unsecured loans. To date, Goldfinch has raised $1 million from industry stakeholders including Kindred Ventures, Coinbase Ventures, IDEO CoLab Ventures and Dragonfly Capital co-founder Alex Pack. (The Block)
Decentralized computing power financial platform DMEX received $1 million in financing led by AEX
DMEX, a decentralized financial platform for computing power, announced that it has received US$1 million in financing led by the cryptocurrency exchange AEX, and investment institutions such as LinkVC, Zhizhen Capital, and Lianxiang Capital followed suit. DMEX plans to introduce BHP into the DeFi field, and upgrade from version 1.0 of BHP to 2.0 joint mining. The underlying logic is to securitize HHP assets to maximize the asset circulation of investors. DMEX represents The coin is expected to be officially listed on the Huobi Heco chain decentralized exchange MDEX on February 15, starting liquidity mining.
DeFi insurance aggregator Armor.Fi (ARMOR) announced the completion of a strategic financing with an undisclosed amount. The participating investors include Collider Ventures, Delphi Ventures, Divergence Ventures, DeFiance Capital, Alameda Research, 1kx, The LAO, Blocksync and Bering Waters Ventures wait.
Dora Factory, the DAO-as-a-Service infrastructure of Sympolka Ecosystem, completed the first round of financing. This round of financing was led by HashKey, with participation from NGC Ventures, DFG, SNZ Holdings, AU21 Capital, Axia8 Ventures, Digital Renaissance Foundation, Candaq Group, Delian Capital, Cabin VC, LD Capital, and DoraHacks Ventures.
Binance X invests in DeFi aggregation platform Furucombo
Binance announced that its subsidiary, Binance X, has completed its investment in the DeFi aggregation platform Furucombo, with an undisclosed amount.
On February 1, Justin Sun, the founder of Tron and CEO of BitTorrent, announced that he will invest in the popular voice social app TWO to create a Chinese version of "Clubhouse".
Digital currency investment fund Alphabit invests in blockchain-as-a-service protocol STRATIS
Alphabit, a digital currency investment fund, revealed the initial investment deployment of Stratis Protocol and the seven-figure investment that will be made in the next two years. Alphabit currently manages more than one billion U.S. dollars in assets and is one of the world's first regulated digital asset investment funds. (Bitcoinist)
