Star Project Weekly | StarkWare confirms that it will launch tokens; OpenSea announces that it will lay off about 20% of its staff (7.11-7.17)
During the week from July 11th to July 17th, the events worthy of attention in the progress of star projects are as follows:StarkWare confirmed that it will launch StarkNet Token, which will be airdropped to the community next year；OpenSea announced that it will lay off about 20% of its staff to survive the crypto bear market；Arbitrum releases Nova, a new chain based on AnyTrust technology；Mysten Labs is seeking at least $200 million in Series B funding at a $2 billion valuation；Celsius Files for Chapter 11 Bankruptcy, Holds $167 Million in Cash to Support Restructuring Business；Otherside Completes First Trip Technology Demonstration and Releases Litepaper；Otherside Completes First Trip Technology Demonstration and Releases Litepaper；STEPN: The profit in the second quarter is 122.5 million US dollars, 5% will be used to start GMT repurchase and destruction。
Bottom-Layer1
Bottom-Layer1
Harmony: Will discuss Horizon hack recovery plan with community within two weeks
Harmony officially tweeted that it will discuss the details of the recovery plan with the community within two weeks. The plan involves approximately 50,000 wallets in 14 assets, with a total of 97.6 million US dollars, and the final result will be determined by community voting.
Celo Launches Celo Web3 Africa Fund to Help African Startups Adopt Crypto Strategies
Celo announced the launch of the Celo Web3 Africa Fund to help successful African startups adopt crypto strategies and is currently accepting founder applications.
The public chain Flare announced the official launch of the main network, which is currently running in "observation mode", during which it will be tested and fully decentralized.
It is reported that the Flare Foundation will initially operate all network validators. Next, FTSOs and new FTSOs on Songbird can be launched on the Flare network and start submitting FTSO data. Validation rights will then transfer from the Flare Foundation to the FTSO provider that operates the validator.
After the observation mode is completed, FTSO data providers will verify the network and earn verification rewards. The observation mode runs for at least 8 weeks until sufficient validating power has been assigned to external validators, at which point the Flare Foundation no longer controls the network.
Mysten Labs is seeking at least $200 million in Series B funding at a $2 billion valuation
According to people familiar with the matter, Mysten Labs (Sui development team), a Web3 start-up company founded by former Meta Platforms employees, is seeking to raise at least US$200 million in Series B financing at a valuation of US$2 billion. This round of financing will be led by FTX Ventures. Fang has pledged at least $140 million in funding. (The Information)
Blockchain Layer 1 Network 5ire Completes Series A Funding of $100 Million at a Valuation of $1.5 Billion
Bottom-Layer2
5ire said it plans to use the funds to expand into Asia, North America and Europe, while maintaining India as its hub of operations and core focus.
Pratik Gauri, CEO and co-founder of 5ire, said that 5ire will empower DAOs and working groups to help accelerate the implementation of the 17 sustainable development goals of the United Nations through the Proof-of-Benefit incentive model.
In October 2021, 5ire completed a US$21 million seed round of financing, with participation from Alphabit, Marshland Capital and Moonrock Capital. (CoinDesk)
Bottom-Layer2
Ethereum scaling solution StarkWare said today that it intends to launch a governance token called StarkNet Token, confirming recent speculation by Three Arrows Capital founder Zhu Su. The token will allow community supporters to contribute to the success of the ecosystem, thereby playing a role in the governance of that ecosystem. To date, 10 billion tokens have been minted off-chain and distributed to parties including StarkWare investors and its core contributors. These tokens will go live on StarkNet in September. Tokens allocated to core contributors and investors will have a four-year vesting period and a one-year cliff (i.e., the time period before tokens are unlocked). StarkWare is further building the StarkNet Foundation. It will be funded by a grant of StarkNet tokens, and its role will be to drive the development and adoption of StarkNet. So far, no tokens have been distributed to the StarkNet community. StarkWare said tokens will be distributed to the community next year based on "verifiable work." StarkWare added that when such distributions are announced, they will only refer to snapshots prior to the date of the announcement, and users will be filtered when airdropping.
StarkNet tokens will have three main uses. The token will be used for the governance of the StarkNet blockchain. By 2023, it will be possible to contribute to the performance and security of this layer by staking tokens. Additionally, while StarkNet currently uses ETH to pay transaction fees, it will eventually be replaced by the new token. (The Block)
Arbitrum releases Nova, a new chain based on AnyTrust technology
Arbitrum officially announced that Arbitrum Nova, the first new chain based on Arbitrum AnyTrust technology, has been running on the main network and is open for developers to deploy applications.
Earlier this year, Arbitrum released AnyTrust, a new, more secure technology optimized for ultra-low-cost transactions. With Nova running, Arbitrum has two independent chains running live on mainnet, supporting almost all blockchain use cases. Nova will be the solution of choice for gaming and social applications, while Arbitrum One will continue to cover DeFi and NFT projects.
zkSync will migrate its Ropsten and Rinkeby v1 testnets to Goërli and Sepolia respectively
Ethereum Layer 2 scaling solution zkSync announced that it will migrate its v1 testnet on Ropsten and Rinkeby to Goërli and Sepolia on August 2, in order to minimize the risk of network failure due to the merger. Developers need to redeploy the test environment on Goërli or Sepolia.
infrastructure components
infrastructure components
Privacy Infrastructure Project Nym Unveils Shipyard Bounty Program
Nym, a privacy infrastructure project, announced the Shipyard bounty program. It is reported that Shipyard is a place to build and test privacy-enhancing applications (PEApps), service providers who use the Nym hybrid network to provide anonymity to their users.
Nym Shipyard targets infrastructure operators, developers and early adopters. The first Shipyard grants will be for gateways and web requesters, which combine to enable wallets, apps, and chat tools like Telegram to run on the hybrid network. To be eligible for funding, participants must commit to building a gateway and a web requester, whitelist these initial applications, configure the gateway to collect minimal statistics, and maintain it for at least 6 months. Additionally, participants need to have their chosen app coded and running by the August 1 payment deadline.
Web3 storage solution Bundlr Network announced the official launch of the testnet
The Web3 storage solution Bundlr Network announced the official launch of the test network. This test network aims to improve the future main network, test node interaction and smart contracts. Bundlr Network will distribute 2,500 test tokens to each account through the faucet. There will be a total of 1 billion test tokens, allowing 400,000 unique accounts to join the testnet.
Cross-chain interoperability protocol Connext postpones NEXT token launch plan
secondary title
CeFi
Circle Internet Financial released an unaudited report detailing USDC reserve assets on Thursday. The report shows that as of June 30, 2022, its USDC stablecoin is only backed by cash and short-term U.S. government bonds, of which short-term U.S. government bonds totaled $42.1 billion, with an average maturity of 43.9 days. The list shows 19 bonds maturing between July 5 and Sept. 29 this year. Cash was $13.6 billion, with reserves including Bank of New York Mellon, Citizens Trust Bank, Customers Bank, New York Community Bank, Signature Bank, Silicon Valley Bank, Silvergate Bank and US Bancorp.
Celsius announced that it has filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the Southern District of New York. The company said in a statement Wednesday that it has $167 million in cash on hand, which will provide ample liquidity for certain businesses as part of the restructuring process. As of Wednesday evening local time, the company's lawyers were in the process of notifying U.S. state regulators.
BlockFi CEO: FTX will not acquire the company until the fall of 2023
Zac Princ, CEO of BlockFi, a cryptocurrency trading and lending platform, said: The cryptocurrency exchange FTX will not acquire the company until the fall of 2023, and the transaction with FTX will not harm the interests of shareholders.
Previously, Zac Princ also tweeted that BlockFi is different from Voyager and Celsius, which closed their businesses and their customers are about to suffer losses, while BlockFi is fully functional in all products (credit cards, loans, transactions, earning interest), No client loss.
Voyager Digital, an encrypted lending platform, published a blog post on Monday stating that the company currently has about $1.3 billion in encrypted assets on its platform, plus claims against Three Arrows Capital (3AC) of more than $650 million exchange rate fluctuations). Under Voyager's proposed recovery plan (subject to court approval), users may receive a pro rata share of existing Voyager tokens, pro rata distribution of cryptocurrencies, pro rata distribution of 3AC repayment funds, pro rata holding of newly restructured companies of common stock.
As for how much cryptocurrency customers get back, Voyager said the exact number will depend on what happens during the restructuring process and the recovery of 3AC’s assets. "This plan is subject to change, negotiation with customers and eventual voting ... We have developed a restructuring plan to protect customer assets and provide the best opportunity to maximize value," the announcement read.
Crypto lending platform Vauld has sent letters to its creditors and disclosed that it has an overall shortfall of approximately $70 million. Vauld said its assets were worth about $330 million and its liabilities were worth about $400 million. But these figures may not be final, as the company is currently undergoing legal and financial audits, and the figures are still subject to change. The firm said the main contributors to the funding gap were mark-to-market losses in BTC, ETH, and MATIC, as well as exposure to the algorithmic stablecoin UST.
The company also said that if the deal with Nexo does not close, it could pursue other plans, such as raising more venture capital, waiting for the return of capital for some of the deployment, debt-to-equity swaps, issuing tokens and developing a payment plan tied to future revenue wait. (The Block)
In the latest statement, DeFiance Capital stated that it has nothing to do with Three Arrows Capital, and none of the funds it manages are raised from Three Arrows Capital, the founders of Three Arrows Capital, or any affiliated companies. Arthur Cheong, the founder of DeFiance Capital, has never served as a director of Three Arrows Capital and any affiliated companies.
It is reported that DeFiance Capital once referred to itself as a sub-fund and stock class of Three Arrows Capital. The specific business relationship between DeFinance Capital and Three Arrows Capital is not clear, but DeFinance Capital claims that it is only a transaction party of Three Arrows Capital.
secondary title
DeFi
Uniswap v3 and green asset pools have been deployed to Celo
According to official news, the Celo Foundation announced that, with the approval of the Uniswap community for deployment on Celo, Uniswap v3 and green asset pools have been launched on the Celo blockchain. Celo users can now access the Uniswap DEX and pool. Starting with Moss Carbon Credit Token Pools (CELO/MCO2), these pools will bring access and liquidity to voluntary carbon markets, paving the way for other protocols to integrate programmable carbon credits on Celo to accelerate climate action.
Aave launched a proposal vote to exchange 200,000 BAL tokens with Balancer
Aave launched a proposal vote, planning to exchange BAL and AAVE tokens with Balancer. Among them, Aave will exchange 16,907.28 AAVEs for 200,000 BAL tokens based on the 90-day moving average price of AAVE, at the exchange rate of 1 AAVE to 11.8292250604 BALs. After the transaction is completed, BAL tokens will be received into the mainnet reserve factor (RF).
Zapper V2 Beta test version is online, only open to qualified users
The DeFi asset management protocol Zapper announced that the Zapper V2 Beta test version is officially launched. Users who meet the following two conditions will be eligible to participate: 1. Users who hold Seasons 1 or Seasons 2 Zapper NFT; 2. Users who hold Zapper Community Call#36 POAP User. In addition, the number of test users for the Beta version is limited.
DefiLlama has opened the "yields API", users can use relevant data for free
The on-chain data analysis website DefiLlama has opened the "yields API", which is free for users to use, and it contains all the data information on the front end of DefiLlama.
NFT
OpenSea announced that it will lay off about 20% of its staff to survive the crypto bear market
Devin Finzer, co-founder and CEO of NFT marketplace OpenSea, announced on Twitter on Thursday that the company will lay off nearly 20 percent of its workforce. OpenSea said it would offer "generous severance packages, full-year health insurance through 2023, and accelerated equity vesting" for laid-off employees.
Finzer wrote, "Everyone who left has played a key role in OpenSea's journey, and the reality is that we have entered an unprecedented combination of crypto winter and macroeconomic instability, and we need to prepare the company for the possibility of a prolonged downturn." Get ready.” According to Finzer, this round of layoffs will enable OpenSea to maintain normal operations for five years in the crypto bear market.
Magic Eden launches venture capital arm to invest in Web3 games
NFT marketplace Magic Eden has launched a venture capital arm, Magic Ventures, which will invest in Web3 games. Tony Zhao, formerly of Tencent Games, will be in charge of the venture capital arm. Additionally, Magic Eden announced the appointments of Yoonsup Choi, Harrison Chang and Matt Biamonte. Focusing on games and NFTs, the trio will advise and support game developers in their go-to-market strategies. (The Block)
GameStop Launches Public Beta of NFT Marketplace
Otherside also stated that if the user has participated in First Trip or watched the live broadcast, the metadata of the Otherdeed NFT has been updated, and the participation record can be viewed at otherside.xyz/my-otherdeeds connected wallet.
Otherside Completes First Trip Technology Demonstration and Releases Litepaper
News Yuga Labs metaverse project Otherside has completed the "First Trip" technology demonstration early this morning and released a Litepaper.
This document can be used as an introductory guide for Otherside, covering the basic principles of the platform, developer capabilities, and the possibility of community co-creation. The content of Litepaper will increase and change over time. Eventually, it will be replaced by The Codex (the second phase of Voyager's journey and an Otherside living document).
Otherside also stated that if the user has participated in First Trip or watched the live broadcast, the metadata of the Otherdeed NFT has been updated, and the participation record can be viewed at otherside.xyz/my-otherdeeds connected wallet.
The Sandbox Open Asset Creation Feature
According to official news, The Sandbox announced the opening of the asset creation function. Any user registered on The Sandbox can create their own assets, test them in Game Maker, and support publishing content on LAND by the end of this year.
game
game
Animoca Brands, a game and venture capital institution headquartered in Hong Kong, China, announced on Tuesday that it has completed financing of US$75.32 million, with a pre-money valuation of US$5.9 billion, Liberty City Ventures, Kingsway Capital, Alpha Wave Ventures, 10T, SG Spring Limited Partnership Fund, Generation Highway Ltd and Cosmic Summit Investments Limited participated in the investment. It is reported that this part of the funds belongs to the second part of the $358.88 million financing in January this year. The new financing will be used to fund strategic acquisitions, investments and product development, license popular intellectual property, and advance the development of the Open Metaverse.
According to the official news, STEPN announced the second quarter profit and started the quarterly GMT repurchase and destruction. In the second quarter of 2022, STEPN generated $122.5 million in profit through its platform fees. STEPN will use 5% of the profits to start the Q2 GMT buyback and burning plan. In addition to the buyback and burn plan, STEPN will allocate capital reserves to improve existing features and build the team.
Sorare signs multi-year NFT partnership with Argentine Football Association
NFT fantasy football platform Sorare has added the Argentinian Football Association (AFA) to its list of sports partners, signing a multi-year deal to bring NFTs to Argentine fans. As part of the agreement, Argentine football players will be required to play in Sorare's global fantasy football games.
security incident
security incident
Uniswap V3 users have lost at least $8.1 million in Ethereum in phishing attacks
Some users using Uniswap V3 have lost 7,500 Ethereum, worth about $8.1 million, in this phishing attack. But that number could be higher. According to the report, the attackers sent victims a phishing website as well as a malicious token called Uniswap LP, which claimed that they could exchange Uniswap LP tokens for UNI, which would then read sensitive information and steal funds from wallets. .
Prior to this, Changpeng Zhao was the first to disclose the relevant news and said that it might be a loophole in the Uniswap V3 protocol. The Uniswap team responded that the attack was a phishing attack, and the Uniswap V3 protocol itself had no security issues.
MetaMask security analyst Harry Denley tweeted that the attack sent malicious links disguised as UNI airdrops in an attempt to get users to sign, and a total of about 73,399 addresses were attacked. (BeInCrypto)
According to official news, the NFT PASS platform Premint was hacked, please do not sign any transactions that set approval for everyone.
Premint is hacked, do not sign any transactions that set approval for everyone
According to official news, the NFT PASS platform Premint was hacked, please do not sign any transactions that set approval for everyone.
