| Worldcoin officially launched; the official Twitter account has changed its profile picture to the X Logo (July 25th).
Odaily News World Assets, a subsidiary of the Worldcoin Foundation, will mint and issue Worldcoin tokens WLD to one million qualified users participating in the beta version, which can now be traded on the chain. At the same time, Tools For Humanity launched a new version of the World App, the first protocol-compatible wallet through which individuals can now store WLD where permitted by law.
Worldcoin promises to speed up registration by deploying ORB in more than 35 cities in 20 countries around the world. Those who pass ORB verification will initially receive 25 WLD tokens, with regular rewards going forward.
Odaily News Worldcoin released token economics, 75% allocated to the community, 9.8% team, 13.5% TFH investors, 1.7% TFH reserves.
The initial circulating supply was 143 million, of which 100 million were loaned to market makers, and a total of more than 43 million WLD tokens were distributed before the launch. Inflation is 1.5% per year and is expected to start in 15 years.
Among the 43 million tokens, the distribution proportions in each region are as follows: Asia 32.1%, Africa 31.6%, Latin America 18.8%, Europe 17.1%, and 0.1% in other regions.
It is reported that the pre-launch phase of the Worldcoin project is from May 2021 to July 2023. During this time, over 2 million people have verified their World ID on Orb in over 30 different countries. Worldcoin launched with a full rollout of 1,500 Orbs to meet global demand for World IDs.
The official Twitter account has changed its avatar to the X Logo
Odaily News According to the official Twitter account interface, the account has changed its avatar to the X Logo. Musk’s personal Twitter account avatar has also been changed to the X Logo.
Industry News
Court releases schedule, setting key filing deadlines in Coinbase vs. SEC lawsuit
Odaily Judge Failla issued a schedule setting key deadlines for submissions in Coinbase’s lawsuit against the SEC.
Coinbase has until August 4, 2023 to submit legal paperwork with arguments, evidence, and supporting documentation. After filing the legal paperwork, stakeholders supporting the exchange have until August 11 to file amicus briefs, which should not exceed 20 pages.
The SEC, on the other hand, has until October 3 to file legal paperwork. SEC interested parties have until October 10 to submit amicus briefs, which may not exceed 20 pages. After the SEC files its legal paperwork, Coinbase has until October 24 to file a response. (CoinGrape)
Odaily News Former FTX CEO SBF has agreed to a gag order prohibiting him from commenting to third parties that could interfere with his trial, but he believes other potential witnesses should also be silenced, including current FTX CEO John Ray .
The gag order against SBF was initially filed on July 20, when the U.S. government accused it of trying to interfere with a fair trial by publicly disparaging former business partner and witness Caroline Ellison in an interview with The New York Times.
In a July 22 letter to New York Federal District Court Judge Lewis A. Kaplan, SBFs law firm, Cohen Gresser LLP, denied the allegations but agreed to accept the gag order as required.
A gag order is a legal order, usually issued by a court, that restricts information or comments from being published or passed on to any unauthorized third party. In this case, SBF will no longer be able to make public statements disparaging the government witness because the confidential information he shared could damage the jurys reputation. (Cointelegraph)
Project News
Linea: Artificial withdrawal delays will be gradually reduced in the coming weeks
Odaily News Linea tweeted that the team is working hard to speed up the transaction of bridging assets from L2 to L1. Withdrawal times should gradually decrease until you reach the target of 8-32 hours over the next few days. All pending transactions will be processed.
Linea explained that in order to carefully monitor transactions and protect user assets, the team initially added an artificial delay of at least 8 hours to Linea Mainnet Alpha. The eight hours will then be reduced to four hours, with further reductions in the coming weeks, eventually eliminating human delays as the system matures.
Earlier today, Twitter user @pcaversaccio revealed that Linea’s official cross-chain bridge seems to have a certain delay issue in processing the redemption of Layer 2 to Layer 1 (Ethereum). The cross-chain bridge interface claimed that the entire process “may take 8-32 hours, but @pcaversaccio himself and many other Discord users reported that it takes 4 days to get back the funds, and some users even had their funds stuck for 6 days but still not withdrawn.
Odaily News The decentralized Ethereum staking infrastructure SSVNetwork tweeted that it will hold a limited launch launch conference for the second phase of the mainnet on August 1. The second phase will introduce verified operators to bring exponential SSV Network expansion.
dYdX’s proposal to reduce LP rewards and increase market maker rebates passed the vote
Odaily reported that according to snapshot results, dYdX’s proposal to reduce LP rewards and increase market maker rebates was passed. The market maker rebates were increased from 0.5 bps to 0.85 bps, and the LP rewards were reduced by 50%, from 1150685 DYDX/epoch to 575342.5 DYDX. /epoch, the LP cut portion will enter the reward vault and be distributed through DAO voting.
Odaily News The dYdX Foundation tweeted that dYdX has not released any token airdrop or incentive news related to the dYdX v4 public test network. Please treat relevant news with caution and beware of scams.
Arkham Intel Exchange issues first bounty rewards targeting Do Kwon wallet
Odaily News Arkham Intel Exchange approved its first-ever bounty hunt after two crypto detectives discovered evidence of a crypto wallet belonging to Do Kwon.
The platform has issued a bounty for more information on the former Terraform Labs CEO and current international fugitive. An anonymous blockchain detective and one who goes by the pseudonym ErgoBTC won 9519.26 ARKM, worth approximately $4950. (theblock)
According to official news from Odaily, imToken has launched a cross-chain bridge transfer function to support users to transfer funds from Tron to Ethereum. Currently, it only supports USDT cross-chain transfers.
Cross-chain lending protocol Granary Finance announces airdrop
Odaily News Cross-chain lending protocol Granary Finance announced that it will conduct an airdrop on Optimism. Early users and LGE participants will receive an airdrop of 2% of the total supply. The claim channel will open on July 28 and last for 6 weeks.
Investment and Financing
UniSat Wallet is raising $50 million, communicating with Binance Labs, OKX is not currently involved
Odaily News Wu Shuo Blockchain tweeted that UniSat Wallet is raising US$50 million in financing and some investors have been finalized. OKX is currently not involved, while Binance Labs is in communication and has not yet been finalized.
Music project Hibiki Run completes $1 million in seed round financing
Odaily news music project Hibiki Run tweeted that it has completed a million-dollar seed round of financing, with participation from Synergis Capital, NEAR Foundation, BitMart String Capital, Gravity Venture Capital, Yi Lu, FutureMoney Group, and AAG Ventures.
Odaily News According to official news, the multi-chain Web3 infrastructure Dmail Network announced the completion of Pre-A round of financing, Amino Capital, OIG VC, Draper Dragon, KuCoin Labs, HG Ventures, Spark Digital Capital, Bixin Ventures, Wagmi Ventures, Gate Labs, Kretos Ventures and Red Swiss also participated in the investment.
Previously, Dmail Network has successfully completed seed and strategic rounds of financing, has more than 550,000 active users, and has established partnerships with institutions such as Hashkey Capital, Draper Dragon, Outliers Fund, Parallel Ventures, and Spark Digital Capital.
According to reports, Dmail Network aims to provide unified, real-time messaging and notification services across multiple chains and applications. Its mission is to keep users informed and connected in an evolving digital environment, ensuring easy and seamless access to data and information.
Odaily News Digital asset Launchpad 2 MR Labs announced the completion of a new round of financing, led by Heliconia Capital, a subsidiary of Temasek, with participation from Plug and Play APAC, The Assembly Place, PG and LucidBlue Ventures. The specific financing amount has not yet been disclosed.
2 MR Labs will use the new financing to support enterprises in their Web3 technology transformation through Launchpad. Currently, it has reached strategic alliance partnerships with cold wallet provider UKISS Technology, Web3 gaming platform MetaOne, and global entrepreneurship and innovation platform Plug and Play APAC. (e 27)
global policy
Odaily News U.S. House Financial Services Committee (FSC) Chairman Patrick McHenry announced several pieces of legislation, three of which aim to provide regulatory clarity for the digital asset ecosystem (cryptocurrencies, blockchain development, and stablecoin payments).
The FSC will hold a meeting on July 26 to review bills such as HR 4763, the 21st Century Financial Innovation and Technology Act, HR 4766, the Payment Stablecoin Clarity Act of 2023, and HR 1747, the Blockchain Regulatory Certainty Act. Deliberation.
Among them, HR 4766, sponsored by McHenry, aims to bring regulatory clarity to the issuance of stablecoins designed to be used as a means of payment; HR 4763 establishes a digital asset market structure framework suitable for the unique characteristics of digital assets; HR 1747 It stipulates that as long as blockchain developers do not buy or sell cryptocurrencies, they do not need to obtain a license.
U.S. Rep. French Hill, who chairs the digital assets subcommittee, said establishing a functional regulatory framework could protect investors from financial fraud.
He added: “This legislation would not only prevent FTX from stealing billions of customer funds, but also establish strong consumer protections and clear rules of the road for market participants.” (Cointelegraph)
Putin signs digital ruble bill, set to take effect on August 1
Odaily News According to an official document, Russian President Vladimir Putin signed the Digital Ruble Bill on July 24, which is scheduled to take effect on August 1, 2023, and all but one rule is ready for implementation. Article 3 includes amendments to several Russian Federation laws, including those related to bankruptcy and estates, and is expected to enter into force next August.
The new legislation officially authorizes Russia’s central bank to launch the first CBDC pilot for real consumers in August. The government was previously expected to launch a pilot in April with 13 local banks, including major banks such as Sberbank.
Under the newly signed law, the Russian Central Bank will become the main operator of the digital ruble infrastructure and will be responsible for all stored assets. The digital ruble is designed to be used as a payment and transfer method, not for investment purposes. (Cointelegraph)
Odaily News The South Korean Financial Supervisory Service issued an announcement and disclosed the Best Examples of Chairmans Disclosure of Virtual Assets based on the Financial Disclosure Draft No. 1001 and the Accounting Supervision Guidelines. The Financial Supervisory Service will hold briefings and expert symposiums with accounting-related organizational units on virtual asset-related accounting supervision guidelines, public drafts of benchmark documents, best public practices, and auditing standards.
Character*Voice
Odaily News Vitalik Buterin, co-founder of Ethereum, today published an article What do I think about biometric proof of personhood? to discuss his views on biometric proof of personality. Buterin said that this is a valuable but complex tool that the Ethereum community has been trying to build, and mentioned a number of projects trying to solve this problem, such as Proof of Humanity, BrightID, Idena and Circles, as well as a larger and more Ambitious identity proof project: Worldcoin. However, Worldcoin has also been criticized for privacy and security issues with The Orb, issues with the design of its token, and the ethics of some of the choices the company has made.
He concluded by stating that there is no ideal form of character certification, but there are at least three different methodological paradigms, each with their own unique advantages and disadvantages. The ideal approach is to view these three technologies as complementary and combine them.
In principle, the concept of proof of personality seems very valuable, and while various implementations have their risks, so does not having any proof of personality at all: a world without proof of personality seems more likely to be one dominated by centralized identity solutions , money, small gated communities, or some combination of the three. Buterin said that he looks forward to seeing more progress in all types of personality certification, and hopes to see different methods finally come together into a coherent whole.
US House of Representatives: CBDC should be banned and criminalized
Odaily News U.S. Republican Representative Warren Davidson tweeted that CBDC corrupts money into a tool of oppression and control, and Congress must immediately ban any design, construction, development, testing or establishment of CBDC. Davidson said money should be a stable store of value and should not be planned by a central authority. It is reported that Davidson made the above comments based on the CBDC project of the Federal Reserve Bank of San Francisco.
