Star Project Weekly | BSC changed its name to BNB Chain; OpenSea completed smart contract upgrade (2.14-2.20)
During the week from February 14th to February 20th, the events worthy of attention in the progress of star projects include:BSC (Binance Smart Chain) announces name change to BNB Chain；Polkadot Opens 10th Parachain Slot Auction；Algorand Foundation Announces $10M Grant to Focus on EVM Compatibility；The Graph Launches $205M Ecosystem Fund；Sushiswap Launches Free Limit Order Feature；The OpenSea smart contract has been upgraded, and the migration will end on February 26；LooksRare users can list NFT for free and import orders from OpenSea。
Bottom layer - public chain
Bottom layer - public chain
BSC (Binance Smart Chain) announces name change to BNB Chain
According to Binance’s official blog, BSC (Binance Smart Chain) will be renamed BNB Chain. This renaming aims to highlight its connection with BNB and the decentralized evolution of the BNB ecosystem, and demonstrate how BNB surpasses the Binance ecosystem in terms of its application scenarios. What remains unchanged is that BNB Chain is still a community-driven, open-source and decentralized ecosystem. BNB Chain aims to become an infrastructure provider for the virtual world economic system by developing the MetaFi concept.
BNB Chain includes BNB Beacon Chain (formerly Binance Chain) and BNB Smart Chain (formerly Binance Smart Chain). BNB stands for "Build and Build", which is the gas and governance token on the BNB chain. "BNB Chain will support large-scale applications including GameFi, SocialFi, and Metaverse. From single-chain to multi-chain, BNB Chain has improved the expansion solution and expanded the verification nodes of the original BSC from 21 to 41. ” said Samy Karim, BNB Chain Ecosystem Coordinator.
BNB Chain Announces the Establishment of DeFi Alliance
BNB Chain announced the establishment of the DeFi Alliance. The alliance aims to strengthen use cases and security in DeFi, develop new products and provide more possibilities. The alliance will focus on three aspects of innovation, community and security, which will help fully consider user needs in the design of DeFi protocols, thoroughly debate and test all new features before deployment, enhance security and eliminate technical problems and errors.
DeFi Alliance members include PancakeSwap, LayerZero Labs, NodeReal, MCDEX, DODO, Venus Protocol, Deri Protocol, Tranchess, CelerNetwork, Alpaca Finance, ApolloX, Chainlink, and GSR.
Polkadot opens the 10th parachain slot auction and the 7th lease period on March 12
Polkadot's 10th Parachain Slot Auction will be opened at around 3:00 am on February 18, 2022. At present, among all active Crowdloan activities, Interlay has collected the most DOT, followed by Equilibriu, Nodle, Litentry, Phala Network, etc. The 10th Auction is expected to end on the evening of February 24th.
Polkadot will start Lease 7 (that is, the seventh lease period) at around 23:00 UTC time on March 11 (around 7:00 am on March 12, Beijing time). At the beginning of Lease 7, the second batch of 6 winning parachains (as of the publication of this article, four teams, Centrifuge, Efinity, Composable Finance, and HydraDX, have won the second batch of slots) will be officially integrated into the Polkadot relay chain. (Polka World)
Cardano doubles bug bounty for 6 weeks
To further protect its network from bad actors, Cardano revealed that they will double the bug bounty if anyone finds and reports any vulnerabilities on the network to its development team.
According to the available information, Cardano’s bug bounty program has a four-level reward system, mainly for vulnerabilities found on Cardano wallets or Cardano Node.
Previously, any low-risk vulnerabilities found in Cardano wallets would have received a $300 reward, which has now been increased to $600. Medium-risk vulnerabilities will receive $2,000, while high-risk vulnerabilities will receive $6,000, and white hat hackers who find critical vulnerabilities will receive rewards of up to $7,500.
Algorand Foundation Announces $10M Grant to Focus on EVM Compatibility
Bottom-Layer2
Bottom-Layer2
Polygon co-founder Mihailo Bjelic responded to Cyber Capital founder and CIO Justin Bons' question about "Polygon's multi-signature mechanism is too centralized and insecure".
Mihailo Bjelic said that the multi-signature mechanism does have its limitations, but it is essentially to improve the security of new projects and protect users from hackers. It is unrealistic to withdraw from this mechanism now. Polygon has been targeting Justin Bons’ suggestion that “smart contract management keys must be transferred to Matic token holders,” but this increases reaction time when things go wrong.
Filecoin and Polygon reached a cooperation to jointly develop NFT and metaverse projects
On February 16, according to an announcement on the official website of Filecoin, the Filecoin ecosystem and Polygon Studios reached a cooperation to jointly promote the progress of NFT, games and metaverse space.
infrastructure components
infrastructure components
The Graph Launches $205M Ecosystem Fund
A number of encryption venture capital institutions have launched a $205 million ecosystem fund for Web3 and The Graph, a blockchain data index layer. Participating institutions include Digital Currency Group, Multicoin Capital, Reciprocal Ventures, gumi Cryptos Capital, NGC Ventures and HashKey. The fund will be used to accelerate the growth and development of key projects in The Graph ecosystem. (Blockworks)
According to official news, Multichain, a cross-chain liquidity protocol, released an investigation report on previous vulnerability incidents. A total of 7,962 user addresses were affected, 4,861 addresses have been revoked, and the remaining 3,101 addresses have not been revoked, and action still needs to be taken as soon as possible.
In addition, a total of 1,889.6612 WETH and 833.4191 AVAX were stolen, and 912.7984 WETH and 125 AVAX were recovered (approximately $2.6 million in total), accounting for nearly 50% of the total stolen funds. A total of 976.8628 WETH was stolen.
The team initiated a proposal to compensate 100% of user losses. Funds (including miner fees) will be returned to users who have revoked contract approval and submitted work orders at the service desk, but will no longer compensate any losses that occurred after 24:00 UTC on February 18 .
Mirror has deployed the Words contract to Arbitrum and Optimism
Application layer - DeFi
Application layer - DeFi
Curve Finance has launched the smart contract platform Moonbeam Network
According to official news, Curve Finance announced that it has launched Moonbeam Network, an Ethereum-compatible smart contract platform on Polkadot.
Sushiswap Launches Free Limit Order Feature
Sushiswap officially tweeted that Sushiswap has launched a free limit order function on Ethereum and Polygon, allowing users to buy or sell at a specific price point without continuously monitoring the market.
SushiSwap Launchpad platform MISO released on Harmony
The SushiSwap Launchpad platform MISO was launched on Harmony and will soon be launched on Ethereum and other chains. MISO is a completely permissionless startup platform with multiple token types, multiple auction types and liquidity startup, voted and funded by Sushi DAO.
1inch Network launches its spot price aggregator
News 1inch Network published an article introducing the spot price aggregator developed by the 1inch Labs team. The tool pulls price data for tokens traded on the DEX from the blockchain.
The tool provides a liquidity-weighted average of token spot prices across multiple DEXs. To avoid the problem of price manipulation in transactions, it is recommended to only use spot price aggregators off-chain. 1inch spot price aggregator supports multiple DEXs on Ethereum, BNB Chain, Polygon, Avalanche, Optimistic Ethereum, Arbitrum and Gnosis Chain.
BitDAO treasury has allocated USD 633 million to various blockchain ecological projects
BitDAO tweeted that the $633 million in funding provided by the BitDAO treasury has been allocated to different projects in the blockchain ecosystem.
The Ethereum privacy trading platform Tornado Cash released a governance proposal, proposing to update the relevant rules of Relayer to improve the level of decentralization of the protocol and further improve the holding efficiency of TORN.
The main content of the proposal is: any user who pledges more than 300 TORN will be able to become a relayer and be added to the priority list. Each withdrawal through the Relayer requires the Relayer to pay a fee in the form of TORN (the current fee ratio is 0.3%), which will be stored in the StakingReward contract and obtained by TORN holders participating in governance.
The Solana ecological lending project Jet Protocol tweeted that it is preparing for JetDAO/governance and JET airdrop related matters.
Acala Launches Polkadot's Native Stablecoin aUSD
Application layer-NFT
Application layer-NFT
The OpenSea smart contract has been upgraded, and the migration will end on February 26
OpenSea officially posted on social media that its smart contract upgrade has been completed, and the new smart contract has been launched. Users need to sign a pending order migration request to migrate the smart contract. Signing this request does not require Gas fees, and there is no need to re-approve NFT or initialize the wallet. During the migration, quotes on the old smart contract will be invalidated. The English auction will be temporarily disabled for a few hours after the contract upgrade is completed. After the new contract takes effect, you can create a new timed auction again. The Dutch auction for existing smart contracts will expire at the end of the migration period at 3:00 on February 26, Beijing time.
OpenSea will work with the community to identify and remove a small number of offending NFTs
OpenSea officially tweeted that OpenSea will work with the community to identify and delete a small number of NFTs, so that the security and value of NFTs on OpenSea can be better guaranteed. OpenSea should be a place where users can create and discover creations they love without fear of spam and plagiarism.
According to previous reports, the Web3 communication platform Metalink has reached a cooperation with the NFT market OpenSea, and will launch announcements, support and user feedback channels for OpenSea. By authenticating all OpenSea support members on Metalink, the platform protects and prevents users from being scammed.
Nifty Gateway Launches NFT Advisory Program for Institutions and Large Collectors
Duncan Cock Foster, co-founder of NFT market Nifty Gateway, said that Nifty Gateway is launching an NFT consulting program for institutions and large collectors, which will help customers get started with NFT, private sales, off-site acquisitions, mining market intelligence, and global support, The service is currently free. It is reported that Nifty Gateway was co-founded by twin brothers Duncan and Griffin Cock Foster and was acquired by cryptocurrency exchange Gemini in November 2019. Duncan Cock Foster said, "As institutional players and high-net-worth individuals become interested in the NFT market, they will need platforms that can provide them with high-quality advice." (Blockworks)
LooksRare users can list NFT for free and import orders from OpenSea
News LooksRare users can list collections for free in the next 7 days. In addition, users can directly import orders from OpenSea to LooksRareNFT.
NFT market aggregation platform gem.xyz will integrate LooksRare
Vasa, the founder of gem.xyz, an NFT market aggregation platform, tweeted that gem.xyz will integrate LooksRare, and users can use Gem to buy NFT from LooksRare.
In addition, Gem will automatically help users claim LOOKS rewards, sell WETH rewards and exchange them for LOOKS for re-staking to obtain compound interest, and users do not need to pay Gas fees. LOOKS automatic compound interest rewards can be claimed at any time.
NFT trading platform X2Y2 will airdrop 12% of tokens to OpenSea trading users
The NFT trading platform X2Y2 announced that 12% of X2Y2 tokens (120 million pieces) will be used for airdrops to OpenSea historical trading users. Users who have traded on OpenSea before 20:00:03 on January 1, 2022, Beijing time can claim the airdrop, and about 860,000 addresses are eligible. Opensea users with a trading volume of not less than 30 ETH can receive 1,000 X2Y2 airdrops, and users with a trading volume of 0-30 ETH can receive airdrops that are proportional to the trading volume.
The beta version of oasis, the NFT trading market based on StarkNet, has been launched
According to official news, oasis, the NFT trading market based on StarkNet, has launched a beta version. It is currently running on StarkNet's test network, providing NFT buying and selling and casting functions, and can edit user profile pages and view NFT asset pages. At the same time, the NFT minted on oasis is saved using the IPFS protocol.
The Sushi community launched the NFT project Sushimi, which will be auctioned in Miso
According to official news, the DeFi community Sushi announced the launch of the NFT project Sushimi, which contains 10,000 character images and more than 400 hand-painted elements.
According to the announcement, the development of Sushimi has been roughly completed, and the rarity design is currently underway. The project will be auctioned on the SushiSwap Launchpad platform Miso, and 50% of the sales proceeds will be distributed to xSushi holders.
Decentralized trading protocol 0x new proposal proposes to add NFT order function
The decentralized trading protocol 0x launched a new proposal vote, and ZEIP-93 proposed to add NFT order function to the 0x V4 protocol. The new function supports users to issue on-chain/off-chain NFT orders, reduces transaction costs by 54%, and supports instant royalties . Once the update is implemented, users will be able to trade ERC-721 or ERC-1155 assets on all 0x supported networks.
Doodles will release Space Doodle NFT on February 28
Doodles announced that it will release the Space Doodle NFT on February 28.
It is understood that Space Doodle NFT uses NFT packaging technology. Holders can package their own Doodle NFT through the Doodle Bot smart contract. The randomly generated spaceship will be combined with the original Doodle to form a Space Doodle NFT. The user's original Doodle NFT will be hosted in In the official Space Doodles vault.
Ahri’s NFT series was once taken off the shelves by OpenSea, and has now been restored
According to official news, OpenSea has resumed the Ari NFT ALI & HIS FRIENDS series.
According to previous news, Ali NFT ALI & HIS FRIENDS was once removed from OpenSea, and the official OpenSea link now shows 404.
Ubisoft employees still strongly oppose the company's NFT blockchain plans
Clashes between gaming giant Ubisoft Entertainment and many of its employees over plans to use encryption in the company's video games intensified last week.
Ubisoft outlined its thoughts on using blockchain technology in an email to employees on Feb. 10. The announcement, posted on the company's internal message boards, sparked hundreds of negative comments from employees. It was a "very embarrassing day" for Ubisoft employees, one said.
Application Layer - Game
Application Layer - Game
Animoca Brands announced the launch of a $30 million guild accelerator program in partnership with venture capital accelerator firm Brinc to support the global P2E guild ecosystem. The plan will provide certification and guidance to the early guilds included in it, and invest a maximum of US$500,000, and the investment is expected to reach US$30 million within two years.
Richard Robinson of Animoca Brands will lead the programme. Avocado Guild founder Brendan Wong, YGG partner head Saruboti Sasuke and Ancient8 Guild co-founder Howard Xu will serve as experts and mentors for the program.
Forte's PTI Receives Financial Transaction License for Blockchain Games
Forte said its Provenance Technologies (PTI) unit has received significant regulatory clearance to enable blockchain gaming transactions globally. The department has received a money transmitter license and a BitLicense issued by the New York State Department of Financial Services. CEO Josh Williams said in an interview that this license makes the company an exclusive group of financial service providers that can provide consumers with more compliance and protection for blockchain game transactions.
security incident
security incident
Some OpenSea users were attacked by phishing attacks
On February 20th, the high-value NFT of some OpenSea users was stolen, which aroused a lot of attention and heated discussions. The incident was first interpreted as a bug in the newly released migration contract of OpenSea, but subsequent analysis concluded that this was actually an attack against Phishing attacks on OpenSea users. According to OpenSea co-founder and CEO Devin Finzer, about 32 users had their NFTs stolen.
The venture capital DAO organization Build Finance tweeted that the project encountered a malicious governance takeover attack. Malicious actors successfully controlled the Build token contract by obtaining enough votes, and then minted 1.1 million BUILD tokens and exhausted the project’s liquidity pool , In addition, all 130,000 METRIC tokens in the DAO treasury were sold. Members of the project team made direct contact with the attackers, but they did not appear to be interested in having a conversation.
Build Finance stated that currently the attacker has full control over the governance contract, minting keys and Treasury. The DAO no longer has control over any part of the critical infrastructure, and officials remind investors not to buy BUILD on any platform.
Security company: Titano Finance was attacked, hackers have made a profit of 4828.7 BNB
PeckShieldAlert tweeted that it detected that the mortgage agreement Titano Finance was attacked, and the hackers had made a profit of 4828.7 BNB (about 1.9 million U.S. dollars). The funds were initially deposited at the address: 0xAd9217e427ed9df8A89E582601a8614FD4F74563, which has been split into 23 addresses.
Rug Pull occurred on ValentineFloki, an imitation project on BSC
News PeckShieldAlert tweeted that a Rug Pull has been detected in ValentineFloki, an imitation disk project on BSC.
Pixiu: MarkMeta Network is a "Pixiu" scam
PeckShield has detected that the project MarkMeta Network on the BNB Chain is a "Pixiu Disk" scam. Users who have not obtained the whitelist can only buy MMT but cannot sell it. At present, due to a large number of tokens that cannot be sold, CoinGecko data shows that the 24-hour increase of MMT has reached 2184.7%.
