Star Project Weekly | Optimism will be launched on the mainnet in March; Furucombo has stolen $15 million due to contract loopholes (2.22-2.28)
During the week of February 15th to February 21st, the events worthy of attention in the progress of star projects are as follows:NEAR EVM is expected to launch the mainnet in the early or mid-Q2；NEM announced that the main network of the new chain Symbol will be launched on March 15；Sushi's new proposal proposes to use Raydium as a bridge to build SushiSwap on Solana and Serum；Aave ecological NFT game Aavegotchi will be launched at 23:00 on March 2。
Star Project Progress
The following are specific project progress and financing events:
Star Project Progress
Web3 Foundation Announces Polkadot Parachain Launch Process
According to official news, the Web3 Foundation announced the launch process of the Polkadot parachain. When it is convinced that the testnet parachain is running smoothly and the code has been fully audited and benchmarked, it will submit a report on enabling the parachain through chain governance. Blockchain and voting for the Slot auction on Kusama, after which the first public parachain will be deployed and the Slot auction will start on Polkadot through on-chain governance. The current goal is that about 100 parachain slots will be available on Polkadot, and parachain slot leases will be guaranteed based on a two-week candle auction. Initially, auctions will be held approximately every two weeks. A single parachain Slot can only be rented for a maximum of two years (every 6 months). At the end of the lease, the slot will be returned for auction, and teams will need to bid again if they wish to keep the slot.
NEAR EVM is expected to launch the mainnet in the early or mid-Q2
The NEAR EVM team recently launched a public discussion on the progress of the Rainbow Bridge, and at the same time confirmed the development plan for the Rainbow Bridge in the coming quarter. The time for NEAR EVM to go live on the mainnet is likely to be in the early or middle of the second quarter, depending on the progress of the team and how new employees get started.
Cardano Adds New Programming Language Glow to Ethereum Virtual Machine Development Network
Officially, Cardano has added a new programming language, Glow, to the Ethereum Virtual Machine (EVM) development network, which is designed to simplify the writing and deployment of smart contracts. The introduction of Glow will improve the development process and reduce its cost.
NEM announced that the main network of the new chain Symbol will be launched on March 15
According to official news, NEM announced that the test of the new chain Symbol has been completed, and the main network will be launched on March 15. The snapshot and pre-launch opt-in will end on March 12th, the snapshot block is 3105500, after the snapshot, 1XEM = 1 XEM + 1 XYM.
The Graph index and query have been launched on the underlying blockchain Fantom
According to official news, The Graph has now been integrated into the underlying blockchain Fantom, and Fantom developers are now eligible to receive funding from The Graph Foundation. Currently The Graph supports Ethereum and POA, which can realize data query across multiple blockchains. Fantom developers can now use these blockchains for access and construction, and can also perform cross-exchange between Ethereum. It is reported that Fantom is an EVM-compatible chain.
Polygon integrates Chainlink’s VRF on the mainnet
According to official news, Polygon (formerly Matic) integrates Chainlink's VRF (Verifiable Random Function) on the main network as a recommended solution for developers who need safe and fair randomness. This allows gaming dApps to cost-effectively scale and enrich gaming scenarios on Polygon's Lay 2 aggregator.
On February 23, Matter Labs, the development team of Ethereum's second-tier expansion solution, tweeted to question ZKSwap, an AMM decentralized exchange based on ZK Rollup expansion technology, claiming that ZKSwap forked (fork) the code warehouse of zkSync, and did not even bother to download from Etherscan Matter Labs’ authorship was removed from the contract code on the website, and no changes were released. Matter Labs expressed concern about the security of ZKSwap’s user funds.
Sushi's new proposal proposes to use Raydium as a bridge to build SushiSwap on Solana and Serum
Sushi released a proposal code-named BONSAI, which was retweeted and supported by SBF. The proposal proposes to use Raydium as a bridge to cross SushiSwap to Solana and Serum to solve the following problems: 1. High gas fees and slow transaction speed; 2. Lack of limit orders and advanced transaction UI; 3. Through central orders The book aggregates fragmented liquidity across all markets.
1inch will deploy to Binance Smart Chain and start liquidity mining
The aggregation trading platform 1inch announced that it will add to the Binance Smart Chain (BSC), and users will be able to use the same functions in the Ethereum network on the Binance Smart Chain. At present, the foundation has deployed corresponding tokens in BSC, with a total of 10 million tokens available for BSC users.
dYdX Layer 2 Perpetual Contract Alpha Version Now Launched, Powered by StarkWare
News dYdX announced that after 7 months of research and development, its new universal margin perpetual contract is now released on the second-tier mainnet, and also launched a newly designed brand, website and trading experience. It is reported that in order to significantly expand the trading volume, dYdX and StarkWare established a Layer 2 protocol for universal margin perpetual contracts based on StarkWare's StarkEx scalability engine and dYdX's Perpetual smart contract. Users can now trade at zero gas cost, which not only reduces transaction fees, but also lowers the minimum transaction threshold.
Cover Protocol will release V2 in batches and is expected to be deployed to the mainnet in April
On February 24, the DeFi insurance agreement Cover Protocol officially issued a document stating that based on previous contract audit experience, V2 will be released in batches. Cover Core V2 is currently being audited, and the final date for the preliminary audit report is expected to be March 15th, and the contracts are expected to be deployed on the mainnet in April.
BadgerDAO Releases Details of Its Stablecoin CLAWS
The decentralized organization BadgerDAO wrote an article to announce the details of the upcoming stablecoin CLAWS. According to the official statement, CLAWS is more accurately referred to as the income dollar, not the stable currency. The income dollar is a mortgage asset with an expiration date. Before the expiration, the market will determine the price of the asset, but generally, as the expiration gets closer, the price gets closer to $1.
DODO V2 Beta Officially Launched on Ethereum and Binance Smart Chain Mainnet
DODO V2 Beta has been tested and launched on Ethereum and Binance Smart Chain mainnet at 13:00 Beijing time. Users can find the V2 Beta entrance by visiting the official website (app.dodoex.io). The Ethereum mainnet vDODO membership system will be launched simultaneously. Member rewards will be released at 15:00 on the same day.
NFT trading platform OpenSea is about to integrate the public chain platform Flow
The NFT trading platform OpenSea will soon integrate Flow, a public chain platform developed by the CryptoKitties development team Dapper Labs.
Aave ecological NFT game Aavegotchi will be launched at 23:00 on March 2
The DeFi aggregation platform Furucombo was attacked, and about $15 million in funds were affected
Security Incident and Follow-up
The DeFi aggregation platform Furucombo was attacked, and about $15 million in funds were affected
According to official news, the DeFi aggregation platform Furucombo was attacked, and the official value said that about 15 million US dollars of funds were affected. Officials have deauthorized the relevant components and believe the vulnerability will be patched, but advise users to deauthorize. Officials have found the root cause and the vulnerability has been patched. Funds are now safe. Officials are investigating the stolen funds and organizing follow-up actions.
According to official news, the DeFi income aggregator Yeld.finance stated that the 160,000 DAI previously lost due to the flash loan attack has been returned. The attack is suspected to be the work of a white hat, and the official will further update the details. According to previous news, the DAI pool of Yeld.finance was attacked by flash loans, and 160,000 DAI was lost, involving more than 10 users.
Synthetix Layer 2 encounters a failure and needs to be upgraded, tested and deployed
On February 26, Justin, a member of the synthetic asset protocol Synthetix (SNX) community, announced on Discord in the early morning that there was a problem with the throughput of Layer 2 and the transaction was not processed. Currently under investigation, please wait. Community member Kain later updated that he had communicated with the Optimism team and they planned to upgrade the network to solve this problem. However, before deploying to the mainnet (currently in the Soft Mainnet stage), various tests including load are required. Funds are not at risk and the network state is secure, but new transactions are currently not accepted by the sequencer.
Alpha Finance to use monthly reserve funds to pay arrears that led to Cream theft
The cross-chain DeFi platform Alpha Finance Lab and Cream Finance issued a joint statement, disclosing how the funds that were previously attacked and stolen were handled. According to the statistics of both parties, Alpha Homora V2 owes Cream V2 IronBank: 13245 ETH, 4.26 million DAI, 4.03 million USDC, 5.65 million USDT and corresponding interest.
According to official news, a serious loophole has been found in the Primitive Finance smart contract of the options protocol on the Ethereum chain. Since the contract cannot be upgraded or suspended, the official chose to hack the smart contract themselves to protect user funds. Hacked funds are safe. All hacked funds will be returned to their owners. A post-mortem analysis of the breach, a timeline for actions taken to protect user funds, and next steps to immediately return user funds will all be forthcoming, officials said.
Investment and financing overview
Investment and financing overview
On February 25, Anchorage, a digital asset bank, announced the completion of a $80 million Series C round of financing, led by the Singapore government investment fund GIC, with participation from a16z, Blockchain Capital, Lux and Indico. This round of financing is mainly used to expand the digital banking business to meet the growing participation needs in the digital asset field, especially the needs of enterprises and traditional financial institutions. In addition, Anchorage also stated that they are early supporters of DeFi and will work hard to bring DeFi to more institutions.
Sorare, a digital football NFT collection platform, announced the completion of $50 million in financing. Uber and other early backers, venture capital firm Benchmark led the investment, and other investors included venture capital firm Accel, Reddit co-founder Alexis Ohanian, Barcelona striker and Messi teammates Antoine Griezmann. (Bloomberg)
Swiss DeFi Prime Brokerage Oxygen Receives $40 Million Investment Led by Alameda Research
Oxygen, a Swiss DeFi prime brokerage company, received $40 million in investment, led by Alameda Research, and participated by MultiCoin Capital, Genesis Capital and CMS Holdings.
Alameda Research Invests $35M in Smart Contract Platform Fantom Foundation
Alameda Research has invested $35 million in the smart contract platform Fantom Foundation. Alameda Research will cooperate with the Fantom core team to integrate cross-chain products such as Solana, Serum, and Raydium. In addition, Alameda Research will also run a verification node on the Fantom Opera mainnet , to help improve network security.
According to official news, the Ethereum expansion program Optimism announced that it will launch the main network open to the public in March. At that time, any contract can be deployed instead of the public beta version. The team also announced that it had completed a US$25 million Series A financing led by a16z in November last year.
Blofin, a digital asset management agency, received US$10 million in A+ round investment, led by SIG
Blofin, a digital asset management agency, received US$10 million in A+ round investment, led by SIG
Matt Hu, CEO of Blofin, a digital asset management agency, said that Blofin raised US$10 million in the A+ round of financing, led by SIG, followed by Matrix, Lingfeng Capital, Superchain Capital, Jackdaw Capital and other institutions. Matt Hu emphasized that after this round of financing, Blofin will cover more trading platforms and institutions around the world, obtain more effective data, and optimize investment models. Blofin is currently applying for digital asset management licenses in Hong Kong, Singapore and other places, and will provide professional investors with compliant digital asset management services in more countries and regions in the future.
The cross-chain decentralized computing network CUDOS has completed a total of over 10 million pounds of financing through multiple rounds. Major strategic investors participating in the fundraising include Moonrock Capital, GBV, Spincrypto Capital, Coinvision Research, BlackDragon Research, MoonWhale Ventures, OutlierVentures, DoublePeak, Psquare Capital, CSP DAO, Crypto Snack, Exnetwork Capital, DuckDAO, Brilliance Ventures, BMW Capital and Floem Capital.
Decentralized foreign exchange trading protocol DFX completed a seed round of over US$5 million, led by Polychain Capital and True Ventures. Participating investors include Boost VC, Hex Capital, Lemniscap, CMS Holdings, Castle Island Ventures, FBG Capital, DeFi Alliance, Divergence Ventures and SRC Capital, with strategic advisors Noah Jessop, Daniel Que, Nemil Dalal, Russell Verbeeten and Michael Dunworth.
Decentralized Asset Management Protocol Centrifuge Completes $4.3M Funding
Centrifuge, a decentralized asset management protocol, completed $4.3 million in financing, led by Galaxy Digital and IOSG, with participation from Rockaway, Fintech Collective, Moonwhale, Fenbushi Capital, TRGC and HashCIB. According to reports, the goal of Centrifuge is to provide users with a simple and smooth way to incorporate their assets into DeFi and invest in a diversified asset-backed pool. (Decrypt)
Cryptocurrency Derivatives Platform Alpha5 Completes New Round of Funding Led by Polychain
According to official news, the cryptocurrency derivatives platform Alpha5 has recently completed a new round of financing, with a cumulative financing amount of over 4 million US dollars. Alpha5 is led by Polychain, and participating investment institutions include FBG Capital, Axia8 Ventures, Oasis Capital, SNZ, Altonomy, CMT Digital, Lvna Capital, etc.
InsurAce Receives $3 Million in Strategic Financing Led by Alameda Research and HashKey Capital
DeFi insurance agreement InsurAce announced the completion of a $3 million strategic financing, led by Alameda Research and HashKey Capital, followed by seed investors DeFiance Capital, ParaFi Capital, Hashed, Signum Capital, and other participating institutions including IOSG Ventures, ImToken Ventures, LongHash Ventures, Hash Global, Tembusu Partners, Factorial Ventures, etc., and angel investors Maple Leaf Capital, Wang Qiao, Kerman Kohli, etc.
SoftBank Group (UK) Completes Multi-Million Dollar Investment in ZT Trading Platform
Recently, SoftBank Group (UK) has completed a multi-million dollar investment in the ZT trading platform, which is also the first investment of SoftBank Group (UK) in the blockchain industry. Toshikatsu Yamada, Investment Director of SoftBank (UK), said that he hoped that with the help of SoftBank Group (UK)'s global influence, ecosystem, operating experience and sufficient investment resources, he hoped to help ZT transaction in various aspects such as strategic development, market development, and resource integration. The platform is developing rapidly, and is willing to take the projects invested by the ZT trading platform as the first choice of Softbank (UK) investment targets. Through the joint efforts of both parties, it will enhance the public's awareness of digital assets and jointly create a new era of digital economy.
Kylin Network, a Web3 ecological data infrastructure component, announced the completion of a $2.7 million private round of financing. Investors include Freecompany, DFG, Longhash, Master Ventures, Dealean Capital, Brilliance Ventures, and Ceras Ventures. Seed investors CMS, AU21 Capital, and Rarestone Capital made additional investments in private equity rounds.
DeFi protocol Convergence Protocol raises $2 million, led by Hashed
The DeFi protocol Convergence Protocol completed a financing of US$2 million, led by Hashed. Strategic investors NGC Ventures, Genesis Block Ventures, Alameda Research, CMS Group, Kenetic Capital, and Pantera partner Paul Veradittakit participated in the investment. The funds will be used to advance Convergence’s testnet and mainnet, with plans for a public sale of its native token at the end of March. (CoinDesk)
ETHA Lend, a cross-chain revenue optimization protocol, completed $1.6 million in financing, led by AU21 Capital, DFG, and Privcode Capital. Follow-up investors include Vector Capital, Chain Capital, PNYX Venture, Lancer Capital, Oasis Capital, TRG Capital, Candaq Capital, Dealan Capital, Inclusion Capital, Origin Capital, ZB Capital, YBB Foundation, AC Capital, and Hotbit.
Playcent, an interactive content creation platform, has completed $1 million in financing and will hold IDO on March 7
Playcent, an interactive content creation platform for DApps, games, and NFTs, announced the completion of $1 million in financing. Investors include Genesis Block Ventures, Lotus Capital, Moonwhale Ventures, Phoenix, Blocksync Ventures, Moondot Capital, 18 ventures, Psquare Capital, and Chronos Ventures.
TrustBase, a Polkadot parachain based on the independent smart contract language Subscript, announced that it has completed the first round of financing of one million US dollars. Participating institutions include Candaq, Delin Capital, DFG, BTX Capital, AU21, Waterdrop Capital, OASIS CAPITAL, Angelone, HappyBlock, Polkafund , Hot Labs, CoinsGroup, ChainCapital, Crypto Capital.
According to official news, the on-chain incentive agreement DAFI announced the completion of an oversubscribed private placement sale, raising a total of $900,000 in this round of financing. Participating funds include LD Capital, Spark Capital, Rarestone Capital, AU21 Capital, Amplifi, Twin Apex, Polymer Capital, SL2 Capital, Morningstar Ventures and MoonRock Capital.
NFT loan platform NFTfi announced the completion of a financing of US$890,000. Investors include Coinfund, 1KX, Collab+Currency, Maven 11 and The LAO, as well as strategic investor Animoca Brands.
DeFi Smart Contract Construction Platform DeFi Wizard Completes $750,000 Financing
DeFi Wizard, a platform for building DeFi smart contracts, announced the completion of financing of US$750,000. Investors include X21 Digital, AU21 Capital, TRG Capital, DeltaHub Capital, NGC Ventures and ExNetwork. (Zycrypto)
FM Gallery, an NFT art and trendy game distribution platform, announced the completion of hundreds of thousands of dollars in seed round financing, and launched the official platform wah.art and the art community. Institutions and investors participating in the seed round include NGC Ventures, Continue Capital, Altonomy, and investors Mable Jiang, Kai, and Xinshu Dong.
Genesis Block Ventures invests in blockchain cybersecurity platform HAPI
The investment company Genesis Block Ventures (GBV) announced to invest in the blockchain network security platform HAPI, and the investment amount has not yet been disclosed. HAPI creates an on-chain network security database for DeFi projects, aiming to help DeFi platforms block suspicious transactions and illegal sources of funds. HAPI has the function of cross-chain smart contracts, applicable to multiple blockchains such as Ethereum, Polkadot, and VeChain, and can be imported into various types of centralized exchanges and DeFi application platforms. It is reported that HAPI is the first project supported by the Hacken Foundation (HFoundation).
Zhigui Technology has recently received tens of millions of RMB in Series B financing, and Yan Yan, the founder of the old shareholder SAIF Asia Investment Fund, has continued to increase the investment. This round of financing will be used to increase investment in blockchain core technology research and development and expand the high-quality talent team. There are opportunities to create giants in the field of industrial blockchain, and Zhigui Technology has laid a solid foundation for this. Founded in 2016, Zhigui Technology is the world's leading provider of blockchain technology and services, and one of the first technology companies to apply blockchain technology to multiple specific scenarios. (financial)
