Star Project Weekly Report | Aave is testing NFT collateral; Synthetix plans to launch on Optimism at the end of this month (7.5-7.11)
In the week of July 5th to July 11th, the events worthy of attention in the progress of star projects include: DFINITY will launch the Internet Computer expansion network Badlands; Algorand’s decentralized community governance plan will be launched in Q4; Uniswap V3 has been deployed to Ethereum The main network of Optimism, the second-layer expansion plan; Aave is testing the use of NFT as collateral for lending; SushiSwap will launch the innovative NFT platform Shōyu in the third quarter; the synthetic asset protocol Synthetix announced that it will expand on the second layer of Ethereum in the week of July 26 The program Optimism was launched; Astar sister network Shiden won the third auction slot of Kusama and officially became a parachain.
public chain
public chain
Web3 Foundation: The maximum funding limit for general grants has been cancelled.
The Web3 Foundation tweeted today that as part of our commitment to fostering the Web3 ecosystem, we offer a comprehensive grant program focused on funding development and research work on projects such as Polkadot, Kusama, and Substrate. Most importantly, we removed the maximum funding limit for general grants.
DFINITY to Launch Internet Computer Expansion Network Badlands
DFINITY will launch the Internet Computer extension network Badlands. The network aims to become a decentralized computing network with a low threshold, ensuring that low-configuration node machines (such as Raspberry Pi) can also participate in the network. The network will be responsible for processing simple smart contracts (such as social networks, real-time transactions, etc.) to ensure that the Internet Computer main network can efficiently handle complex computing tasks. Badlands will be designed as a fully decentralized network, governed by the community, and may use the same code as Internet Computer for interoperability, etc. At the same time, Badlands also has some problems, including the inability to achieve privacy due to the instability of low-configuration node machines that need to copy and backup data, and the inefficiency of the network due to different response speeds of nodes and inconsistent versions. potential risk of disruption.
According to official news, Avalanche announced that the Avalanche-Ethereum Bridge (AEB) will be launched in early 2021, and the next generation of Avalanche Bridge (AB) will be launched in the next few weeks, replacing the existing AEB, and through stronger security, more Faster confirmation times and significantly lower fees provide a significantly better user experience. It is estimated to be 10 times faster than AEB, 5 times cheaper, and has a better user experience than any bridge launched to date.
Algorand releases latest protocol upgrade, improving smart contract development
According to the official announcement, Algorand released the latest protocol upgrade to improve smart contract development. The latest protocol update enables developers to build fast, powerful, and cost-effective decentralized applications (Dapps) through the Algorand Virtual Machine (AVM), and its use cases also include Web 3.0, DeFi, and NFTs.
AVM facilitates the development of smart contracts in accessible languages such as Python and Reach, and the project is also working to open up the use of Clarity, C, C++, Go, Rust, Haskell, JavaScript and other languages to write code. Like Turing-complete languages, AVM supports new opcodes, larger program sizes, and allows developers to use loops, functions, and recursion.
Algorand's decentralized community governance plan will be launched in Q4
According to official news, on July 7, the Algorand Foundation notified the global community of the latest progress in the decentralized governance referendum, and the decentralized governance proposal was officially passed. The passing of the referendum means that the first Algorand community governance period will begin on October 1, 2021. As stated in the "Detailed Governance Proposal", the decision-making responsibility for the 3.2 billion Algo AERP (Algorand Ecological Resource Pool) will now be transferred to the global community of Algo holders. Governance rewards will be implemented from October 1, and Algo holders who promise to support the Algorand ecosystem and participate in voting will be rewarded.
Cosmos development firm Tendermint is building a crypto app store called Emeris that will allow access to a range of decentralized applications (dapps). Tendermint plans to launch a beta version of the project later this month, with a public launch planned for September. (The Block)
Astar sister network Shiden wins third Kusama auction slot, officially becomes a parachain
According to official news, Astar’s sister network Shiden contributed 136,000 KSM during the crowd-loan period and won the third Kusama auction slot. More than 4,300 enthusiasts participated in the crowd-loan, and they will receive SDN (Shiden’s native token) award.
DeFi and related infrastructure
DeFi and related infrastructure
Uniswap V3 has been deployed to the Optimism mainnet, the second layer scaling solution of Ethereum, and all three NFT positions are for the DAI/ETH trading pair, presumably at different fee levels.
According to news posted on Twitter by Noah Goldberg, founder of Gold Beech Capital, the decentralized lending protocol Aave will cooperate with institutional-grade security company Fireblocks to launch products for institutional users in July, the first permissioned decentralized liquidity protocol Aave Pro.
Aave founder: testing NFT as collateral for lending
Stani Kulechov, founder of the decentralized lending protocol Aave, tweeted that Aave is currently experimenting with using NFT as collateral, and hopes that the protocol will be suitable for various NFT use cases when it is released.
SushiSwap to Launch Shōyu, an Innovative NFT Platform in Q3
According to SushiSwap's roadmap for the third quarter, the innovative NFT platform Shōyu will be launched, or new products will be released on July 20.
It is reported that Shōyu was initiated by LevX, a member of the SushiSwap community. It aims to establish a platform for artist creation and display as well as user transactions. Owners share revenue and purchase exhibition tickets, sweepstakes and other activities by destroying tokens, support on-chain and off-chain order book transaction modes and independent auction modes, and support Ethereum mainnet and Polygon at the same time.
SushiSwap integrates Archer DAO's MEV shield to prevent front-running and sandwich attacks, etc.
Ethereum’s Maximum Extractable Value (MEV) arbitrage tool, Archer DAO, announced on Twitter that SushiSwap has integrated ArcherDAO’s MEV shield to protect traders, prevent front-running and sandwich attacks, etc., and eliminate the need to pay due to transaction cancellations and failures. Gas fee. The specific operation details will be released soon.
The synthetic asset protocol Synthetix announced that it will launch Optimism, the second-layer expansion plan of Ethereum, in the week of July 26
According to official news, Synthetix, a synthetic asset protocol, announced that it will launch Optimistic Ethereum (OΞ), the second-layer expansion plan of Ethereum, in the week of July 26. The final deployment date is subject to approval by the Spartan Council. According to the regulations in SIP-121, the initially supported synthetic assets are sETH, sBTC and sLINK. In addition, the SNX price feed is also deployed by ChainLink. In preparation for the transition to OΞ, some additional SIPs will be released over the next few weeks. These include changes to the debt pool caching mechanism, the deprecation of iSynths (short tokens), and a reduction in the number of Synths (synthetic asset tokens) on L1.
Balancer launches stable pool, Balancer becomes the first AMM with 3 types of pools
According to the official announcement, Balancer launched a stable pool, and Balancer became the first AMM with three types of pools - weight pool, element, and stable pool. Currently, Balancer Labs has created two initial stable pools, namely: staBAL3-BTC—WBTC/renBTC/sBTC and staBAL3-USD—DAI/USDC/USDT.
Shibaswap launched, TVL has exceeded 1.5 billion US dollars
Shibaswap has been officially launched. As of 0:00 on July 12, the TVL has exceeded 1.5 billion US dollars.
Lido pledged nearly 600,000 ETH, becoming the largest depositor of ETH2.0
Nansen CEO Alex Svanevik tweeted that Lido Finance, the pledge liquidity solution, currently has 596,224 ETH pledged on ETH 2, making it the largest depositor of ETH2.0.
Decentralized auction platform Bounce Finance is developing Bounce V3
According to official news, Bounce Finance, a decentralized auction platform, said that it is developing Bounce V3.
Polkastarter released the roadmap for the third quarter, which will implement new functions such as POLS staking
Cross-chain decentralization Launchpad Polkastarter recently released the roadmap for the third quarter. The specific updates include the following: dynamic token sale; signature-based whitelist; project page + directory; whitelist application form; POLS pledge; more decentralized. Additionally, Polkastarter will explore adding new features such as on-chain voting for/against DAO proposals and other measures to bring Polkastarter closer to a pure DAO.
Kava's new DeFi product Kava Swap test network will be launched on July 29, Beijing time
According to official news, Kava Labs announced that Kava's new DeFi product Kava Swap test network will be launched on July 29th, Beijing time. The registration channel is now open and the deadline is July 23. On August 30, Kava Swap will be officially launched on the Kava 6 mainnet.
Cryptocurrency transaction aggregation protocol OpenOcean has connected to the Polygon blockchain following discussions with users, CoinDesk reported. OpenOcean will be offering up to 100,000 OOE tokens in the coming weeks to incentivize transactions on Polygon.
In addition, according to official news, OpenOcean will conduct IDO on Polkastarter at 22:00 on July 9, Beijing time. The price of OOE is $0.04, and a total of 3.75 million OOE will be sold.
Cover Protocol and Ruler Protocol apply for joint funding from 0x Polygon
According to official news, the DeFi insurance agreement Cover Protocol tweeted today and announced that it has applied for a joint grant from 0x Polygon with the DeFi lending platform Ruler Protocol. Community members say the new protocol will struggle to attract lenders and insurance providers simply by the fees it generates. So expect MATIC rewards and ZRX rewards. Once rewarded, these rewards will be offered as an incentive to lenders and borrowers to trade loans and underwriting providers and seekers to trade insurance on Polygon's Coverrules. In previous news, the team behind the decentralized exchange protocol 0x and the Ethereum scalability platform Polygon announced that it will spend $10.5 million to enable more users to use the Polygon network. The funding aims to make it easier for developers to build DeFi infrastructure on Polygon via Ethereum.
BarnBridge Launches SMART Yield and SMART Exposure Apps on Polygon
According to an official announcement, the risk-graded derivatives protocol BarnBridge launched SMART Yield and SMART Exposure applications on Polygon. Smart Yield offers fixed and leveraged variable yields to depositors entering lending marketplaces like Aave or Compound; SMART Exposure automates location management. Polygon will provide seamless transaction speed and ultra-low Gas price through full-stack expansion. Additionally, a money market on Polygon will expand BarnBridge's user base.
According to official news, the DeFi fixed interest rate generation protocol 88mph has launched the v3 test network on the Ethereum test network Rinkeby. The update content of this version includes increasing short-term deposit interest rates and reducing long-term deposit interest rates, linear release of MPH rewards, and agreement to earn MPH by staking xMPH Fees, introducing a 0.5% early withdrawal fee and distributing it to MPH stakers, changing floating rate bonds to ERC20 or ERC1155 format Yield Tokens (YT), triggering YT interest payments when deposits are withdrawn, etc.
According to official news, the fixed-rate lending agreement Notional Finance released an overview of the main functions of the V2 version. The three core functions of this version are as follows:
1. Provide lenders and borrowers with longer maturities. At launch, users will be able to fix interest rates for a year. Shortly after launch, Notional will extend maturities and enable users to fix rates for up to two, five, ten or even twenty years.
2. Provide flexible dates for lenders and borrowers. V2 provides the infrastructure for users to borrow and borrow on dates that do not match the maturity dates of active liquidity pools.
3. High-yield, completely passive liquidity provider experience. V2 increases the rate of return of LPs through the integration with Compound and provides passive liquidity through nTokens. nTokens are ERC20 liquidity tokens that support auto-rolling, providing liquidity in all active liquidity pools of a given currency type simultaneously.
Circle CEO Promises More Transparency in USDC
After announcing that it would go public through a merger with a SPAC, Circle CEO Jeremy Allaire pledged to make the company the most public and transparent operator of a full-reserve stablecoin. “As part of our transition from a private company to a public company, this creates an opportunity for Circle to also provide greater transparency to the business we’ve built around USDC and the reserves backing USDC,” Allaire tweeted.
Decentralized Indexing Protocol The Graph Launches Public Governance Dapp on Mainnet
The Graph, a decentralized index protocol for querying networks such as Ethereum, has launched decentralized applications (Dapps) The Graph Explorer and Subgraph Studio. The Graph Explorer and Subgraph Studio allow anyone to deploy and manage subgraphs on Ethereum and earn migration rewards paid in their native GRT token. (CoinDesk)
Brave Releases Roadmap 2.0, Mainly Including Brave Wallet, Brave Swap and THEMIS Protocol
secondary title
Layer2
According to official news, Celer Network's latest expansion plan Layer2.finance v1.0 (L2F v1.0) test network is now online (testnet.l2.finance), adding liquidity mining functions. Celer said that when the L2F v1.0 mainnet is launched, it will simultaneously support and deploy on other blockchains such as BSC and other Layer2 rollup chains, and access to various DeFi protocols on the chain. The previous L2F v0.1 version already supports Compound, AAVE and Curve.
However, a few days after the testnet was launched, officials discovered a backend problem during the operation, which may cause L2 transactions to take longer than necessary. While this question is not about system security, the user experience may get worse over time. To ensure a smooth testnet experience, Celer's engineering team decided to pause the testnet, fix the issue and redeploy the testnet. The engineering team is working on a fix and users will be notified as soon as it is restored. The smart contract runs normally, and there is no system security problem.
According to official news, the Ethereum expansion program Polygon announced that it will integrate the Layer 0 expansion project bloXroute. DApps on Polygon can submit transaction speed, throughput and further reduce Gas costs by adding nodes to bloXroute's blockchain distribution network (BDN).
Layer 2 Decentralized Exchange DeversiFi Releases Version 2.0
According to official news, Layer 2 decentralized exchange DeversiFi released version 2.0, launching the portfolio view as the user's DeFi operation control center. Users can intuitively understand changes in account balances through the portfolio view, initiate exchanges, borrow funds, or send tokens directly. They can also view key statistical data about the account such as total interest accumulation, accumulated rewards, and gas savings.
The Hermez network node system Hermez Coordinator is launched on the Ethereum testnet Rinkeby
The Hermez network node system Hermez Coordinator is launched on the Ethereum test network Rinkeby; after a few weeks of testing, the Hermez Coordinator module will be launched on the main network.
NFT
Developers broke the news: Instagram is suspected of deploying NFT functions on its app
Developer and whistleblower Alessandro Paluzzi recently revealed that Instagram appears to be working on deploying NFT functionality on its app. Instagram posts offering NFTs will have a "Collectible" tag, which will show users that there are NFTs available for purchase in the post. Instagram has yet to publicly announce the launch of NFT products on its platform. However, the company has mentioned the possibility of adding payment functionality to the platform. Instagram head Adam Mosseri has previously spoken about tools that could help creators earn money through the app.
DappRadar co-founder and CEO Skirmantas Januškas tweeted that the daily trading volume of Axie Infinity exceeded 25 million US dollars, and more than 50,000 NFTs were sold every day.
In addition, according to Token Terminal data, the revenue of Axie Infinity, an NFT+ blockchain game project on Ethereum, hit a new high in the past 30 days, breaking through 30 million US dollars, and continued to maintain the first place in the DeFi protocol revenue list.
New Israeli President Isaac Herzog to Receive NFT of Presidential Oath Before Inauguration
According to official news, boxing champion Mike Tyson (Mike Tyson) will cooperate with 1 Of One Studio to issue its first official series NFT.
Boxing champion Mike Tyson to release first official series NFT
According to official news, boxing champion Mike Tyson (Mike Tyson) will cooperate with 1 Of One Studio to issue its first official series NFT.
Well-known tennis player Murray sold NFT works for $178,000 on the Beeple NFT platform
security incident
security incident
The cross-chain asset bridge ChainSwap was hacked again, and more than 20 projects were affected
The cross-chain asset bridge Chainswap was hacked for the first time. According to the information published by several Twitter users, the hacker’s address is 0xEda5066780dE29D00dfb54581A707ef6F52D8113. The hacker has successively stolen more than 20 project tokens from the Chainswap cross-chain bridge contract, involving projects including Antimatter, Corra, DAOventure, FM Gallery, Fei protocol, Fair Game, Rocks, PERI Finance, Strong, WorkQuest, Dora Factory, Unido, Unifarm, Wilder Worlds, Nord Finance, OptionRoom, Umbrella, Razor, Dafi Finance, OroPocket, KwikSwap, Vortex, Blank, Rai Finance, SakeSwap, etc. .
See below for the specific situation and handling plan of some affected project parties.
According to official news, the DeFi oracle machine Umbrella Network stated that the cross-chain asset bridge Chainswap was hacked today, and many projects that cooperated with it to connect tokens between Ethereum and Binance Smart Chain were affected, and more than 10 projects were stolen. tokens, including Umbrella Network, Antimatter, Dafi, Option Room, Blank, Razor, Oro, etc. Hackers stole all over 3 million UMB tokens from the Chainswap treasury on the Ethereum network. It is likely that the hacker has sold all UMB tokens. As a precautionary measure, Chainswap has frozen Umbrella's UMB token on BSC. UMB on BSC cannot be exchanged on Pancakeswap or transferred to other wallets.
According to official news, due to a contract loophole in the cross-chain asset bridge ChainSwap of Dora Factory, 7872 DORA locked in the ChainSwap cross-chain bridge contract were taken out by hackers and sold through Uniswap. Currently, ChainSwap has contacted the Dora Factory Foundation to inform them of the situation. Dora Factory will negotiate with ChainSwap to determine a solution in the next few days and announce it to the community.
According to official news, the DeFi asset management platform DAOventures was affected by "the cross-chain asset bridge ChainSwap was attacked", and 300,000 DVG tokens, worth about $40,000, were stolen. DAOventures said it had taken a snapshot of DVG holders and LPs before the attack, and said it would compensate affected token holders.
