Star Project Weekly | Reddit plans to develop NFT platform; Optimism postpones OVM 2.0 mainnet launch time (10.18-10.24)
During the week from October 18th to October 24th, the events worthy of attention in the progress of star projects include: Proximity Labs announced the establishment of a US$300 million Grants DAO to support the NEAR DeFi ecosystem; Terra officially activated the IBC standard, enabling cross-chain Connect to blockchain networks that support IBC such as Cosmos; Facebook began to pilot its encrypted wallet Novi in the United States; Optimism: The launch of the OVM 2.0 version on the Ethereum mainnet was delayed by two weeks; Reddit is preparing to develop an NFT platform.
public chain
public chain
According to official news, Proximity Labs, a research and development company focused on investing in the NEAR ecosystem, recently announced the establishment of grants DAO worth 300 million US dollars to support projects, institutions and individuals that develop DeFi applications based on the NEAR blockchain. Many DeFi projects including Curve.Fi, Sushi, Dodo, Kyber, Woo, etc., as well as a series of native projects of NEAR, such as Ref, Burrow, Onomy and Trisolaris have reached cooperation with NEAR, some of which have been released in NEAR, others The project is currently in the release process.
Terra, a blockchain developed based on the Cosmos SDK, has passed the "Enable IBC Transfer" (Enable IBC Transfer) governance proposal vote, officially activating the IBC standard (Inter-Blockchain Communication, inter-blockchain communication), and Terra ecological users can cross-chain Connect to other blockchain networks that support the IBC standard and send and receive assets. Currently, blockchain networks that support the IBC standard include Cosmos Hub (ATOM), IRISnet (IRIS), Osmosis (OSMO), and Crypto.com (CRO).
The Kusama Council passed the Motion 377 proposal to start regular, continuous auctions on the Kusama network. The proposal plans to arrange a weekly slot auction for the next 8 lease periods (48 weeks), and the winning project will not be connected to the Kusama network immediately, but will be connected during the next lease period. The current lease period is 16, and each lease period is 6 weeks. There are still 5 auctions in the current lease period. The 5 projects that are successfully auctioned will all be connected to Kusama at the beginning of the 17 lease period (November 27). network.
The Celo Foundation announced the list of recipients of the fourth wave of its donation plan. 50 projects including Etherscan, Celo Wallet, Nansen, and CARE received a total of US$93,500 in funding. Celo said the round of grant recipients reflects a wide range of areas of expertise: blockchain infrastructure, dApps, DeFi, developer tools, ecosystem support, education and community, and UBI.
According to official news, Avalanche Autumn and Avalanche Rush have been officially launched, with more than 650 million US dollars in rewards. Additionally, Avalanche will launch “subnets, interoperability between subnets, corporate partnerships, launch of more DeFi blue chip protocols, new $10 billion asset class (ILO), Avalanche’s DAPP, Exchange Launch, Avalanche V2, Bridges to Other Ecosystems” and more.
IOTA Launches Beta Smart Contracts to Boost Interoperability
DeFi and related infrastructure
DeFi and related infrastructure
The Curve community initiates a proposal discussion, suggesting removal of the Curve DAO whitelist
The Curve community initiated a proposal discussion, suggesting removal of the Curve DAO whitelist. It is reported that the SmartWalletWhitelist contract requires any contract that wishes to interact with Curve DAO to first pass the DAO's approval vote. This proposal is to do away with whitelisting contracts and make access to Curve DAO permissionless. The proposal said the whitelist requirement failed its intended purpose. Instead, it creates a wall that has the detrimental effect of stifling innovation, preventing developers from building applications that integrate with Curve DAO.
Gauntlet, an on-chain risk simulation platform, stated in a blog post that since SushiSwap contacted the Gauntlet team in May this year to seek to improve the efficiency of token distribution, it has increased the efficiency of liquidity mining by 5 times through cooperation with the Gauntlet platform and increased the daily $300 million transaction volume. According to Gauntlet, this means that Sushi has added approximately $55 million in annual revenue to SUSHI token holders without issuing more SUSHI tokens.
Balancer integrates CowSwap for fee optimization and MEV protection
Balancer announced that it has integrated CowSwap (Gnosis Protocol). CowSwap will bring improvements such as gas fee reduction, optimal price search, fee minimization, and MEV protection for transactions on Balancer. Balancer calls the protocol after integrating CowSwap Balancer-Gnosis-Protocol (BGP).
CowSwap is an anti-MEV decentralized transaction protocol launched by Gnosis, also known as Gnosis Protocol, which can enjoy the advantages of Balancer's MEV protection and no need to pay Gas for transaction failures. CowSwap will also get better prices due to optimized fund pool settlement and the use of Balancer V2.
Facebook begins piloting its crypto wallet Novi in the US
Social media giant Facebook has begun rolling out small pilots of its Novi digital wallet in the U.S. and Guatemala, according to a tweet from Facebook blockchain executive David Marcus. People can send and receive money instantly, securely and for free. Marcus expressed the hope that this will demonstrate a new use case for stablecoins as payment instruments. Additionally, Marcus made it clear that Facebook’s support for Diem has not changed and intends to launch Novi alongside Diem once Diem has received regulatory approval and goes live. (U Today)
Alameda Research initiated a BIP-4 proposal to BitDAO, hoping to swap the FTX exchange token FTT with BitDAO’s governance token BIT. The specific amount is 100 million BIT (about 1% of the total) exchanged for 3.36 million FTT (accounting for about 1% of the total), worth about 180 million US dollars. The plan also proposes that both parties need to publicly state that they will not sell each other’s tokens within 3 years. Voting on the proposal is scheduled to begin on October 20 and end on October 30.
The Ethereum non-destructive lottery project PoolTogether announced that the V4 version is online. Currently, it supports depositing into Polygon and USDC on Ethereum, and more options will be provided in the future.
Eden Network, the Ethereum priority transaction network, proposes three strategic goals in the future and launches a roadmap. The three strategic goals include token economic upgrade (to further monetize the daily transaction flow), enhance the security and transparency of transaction flow, and optimize block formation.
In order to achieve three strategic goals, Eden launched a future roadmap, including: introducing SEV (Staker Extractable Value) to reward Eden network pledgers and updating the pledge and token economic model; closely communicating with the Ethereum 2.0 team and launching block formation As a service (ETH 2.0 BFAAS); block explorer upgrades, increased functionality and content, and improved network transparency.
The cross-chain payment network cBridge2.0 testnet launched by Celer is officially launched today. Users and liquidity providers (LPs) can access the cBridge2.0 testnet through test-cbridge-v2.celer.network to get familiar with simpler cross-chain transfers process, new liquidity management and liquidity mining functions, and Celer also launched a testnet feedback reward activity. Celer said that it is currently working with three auditing companies to independently audit the smart contract components of cBridge 2.0, and plans to launch a $4 million bug bounty program to enhance its network security when the mainnet goes live. cBridge 2.0 is planned to be launched in mid-to-late November.
USDC newly issued on Hedera Hashgraph
secondary title
Layer2
Optimism: The launch of OVM 2.0 on the Ethereum mainnet is delayed by two weeks
Optimism, the Ethereum expansion program, stated on Twitter that in order to conduct more tests on possible problems before the mainnet goes live, the launch of OVM (Optimism Virtual Machine) version 2.0 will be postponed for two weeks. It will go live at 1:00 on November 12. According to previous reports, Optimism announced that version 2.0 of its OVM will be deployed to the Ethereum mainnet on October 28, and there may be a downtime of 4 to 6 hours at that time.
Arbitrum One, the Ethereum expansion network, announced that it has moved to the official cross-chain bridge token whitelist. According to Arbitrum, the token projects in the ecology can use the official script to perform cross-chain between Ethereum and Arbitrum One for ERC 20 tokens without application.
NFT
Reddit is preparing to develop an NFT platform
Animoca Brands completes financing of US$65 million at a valuation of US$2.2 billion, with participation from Ubisoft, Sequoia China, Dragonfly Capital, etc.
Animoca Brands announced today that it has completed financing of US$65 million (approximately A$87.7 million) at a pre-financing valuation of US$2.2 billion. Investors in the round include: Liberty City Ventures, Ubisoft Entertainment, Sequoia China, Dragonfly Capital, Com2uS, Kingsway Capital, 10T Holdings, Token Bay Capital, Smile Group, Tess Ventures, MSA Capital, Octava Fund, Adit Ventures, Summer Capital, Sigitech Holdings, Black Anthem Ltd, Mirana Corp, and Justin Sun. The funds will be used to fund strategic investments and acquisitions, product development and licensing rights to popular intellectual property.
NFT trading platform Rarible announced the launch of the "Gas-free NFT minting" function
Rarible, an NFT trading platform, announced the launch of the "Gas-Free Forging NFT" function, and NFT miners can mint NFT on the Rarible platform without Gas.
Rarible said that the logic of this function is that the NFT is actually minted when a buyer completes the purchase, and the content creator does not actually mint the NFT when uploading the NFT.
Binance NFT Marketplace Adds Multi-chain Support for NFT Deposits and Withdrawals
According to the official announcement, the Binance NFT market has added multi-chain support for NFT deposits and withdrawals. Users can now deposit and withdraw NFT via the Binance Smart Chain (BSC) and Ethereum (ETH) networks. The launch of these two features elevates the Binance NFT Marketplace to an open market ecosystem. Users can now deposit their existing NFTs to sell or trade, and withdraw NFTs to other platforms.
According to official news, Binance NFT Market announced that it will launch the "AP Unique Moment" premium NFT series from 12:00PM (UTC) on October 19, 2021 to 12:00PM (UTC) on October 26, 2021. Each NFT features AP's most important stories from the past 100 years, spotlighting a series of milestones in space, global conflict, science and more. The Mystery Boxes in the series come in 4 rarity levels: Normal (N), Rare (R), Super Rare (SR) and Super Super Rare (SSR). The price of each blind box is 29 BUSD. In addition to historical photojournalism, the collection also includes rare digitized copies of the AP's most important "news flashes" urgently sent to newsrooms around the world. Each account can purchase up to 25 blind boxes.
JD.com launches JDD conference NFT commemorative certificate, users can sign up for free
security incident
security incident
The DeFi protocol Glide Finance tweeted that the contract loophole was exploited, and the funds were withdrawn from the matching contract. The loss amount was about 300,000 US dollars. Updated from 1000 to 10000. Currently, the team is contacting the exchange to block the transfer of funds, reminding users who deposit funds in the Glide liquidity pool to withdraw funds.
Alpha Finance Labs, a cross-chain DeFi protocol, stated that a total of 20 addresses in history lost a total of 40.93 ETH when using the leveraged mining protocol Alpha Homora V2 because the transaction was discovered by MEV robots. Alpha Finance stated that it will fully compensate these losses in the form of ALPHA tokens. Regarding this problem, Alpha Finance believes that the smart contract of Uniswap V2 has implicit assumptions (implicit assumptions), which are not clearly stated at the contract level, so they believe that this will cause the slippage to be unchecked. Alpha Finance stated that it will fix the problem and check it at the time of transaction, so these situations will no longer happen, and security auditors OpenZeppelin and Peckshield have also confirmed the fix.
PeckShield: DeFi protocol Pancake Hunny on BSC was attacked by flash loans
PeckShield PeckShield warning showed that the DeFi protocol Pancake Hunny on BSC was attacked by flash loans, and the HUNNY token fell by about 70% in a short period of time. The hacked transactions contained 513 transfers, and the Gas consumption reached 19 million. A large number of transfers were related to Alpaca tokens.
The security agency Rugdoc.io tweeted that Avaterra Finance, the Avalanche ecologically stable income aggregation protocol, was hacked earlier today. According to its analysis, the contract of the protocol is a fork of Goose, but its token contains custom elements, and anyone can call its minting function. Eventually the hacker invoked the contract and minted and dumped thousands of tokens.
