headlines
FTX faces US government claims of approximately $3 billion to $5 billion
Odaily News According to court documents filed on Wednesday, the U.S. government’s total claims against bankrupt cryptocurrency exchange FTX are expected to be between $3 billion and $5 billion. The specific amount is subject to change and negotiations with relevant agencies. Documents filed in the U.S. District Court for the Southern District of New York said the total amount of U.S. government claims remains uncertain and that once all government and tax claims are paid, the debtors can use the remaining proceeds to make distributions to shareholders. (TheBlock)
According to official news from Odaily, zero-knowledge proof infrastructure company Succinct has completed a total of US$55 million in financing (including seed round and Series A), with Paradigm leading the investment. Robot Ventures, Bankless Ventures, Geometry, ZK Validator and multiple angel investors participated in the investment.
zkSync Lianchuang: The team has turned all its attention to decentralization
Odaily News zkSync co-founder Alex Gluchowski posted on the X platform that the current fee for sending ETH on zkSync Era has dropped to US$0.01. With the completion of EIP-4844, the team has turned its full attention to decentralization.
Industry news
Odaily News After a suspected BlackRock digital asset fund address recently deposited $100 million USDC on the chain, multiple anonymous crypto users have sent at least 40 tokens and 25 NFTs to its address.
Tokens and NFTs received by this address include ROCK, USH, RIO, ETH, Mog, SHI, ETHEREUM, Wolf, PEPE, GROW, CryptoDickbutts S 3 NFT, Chungos NFT, etc. (Cointelegraph)
Previously, BlackRock partnered with asset tokenization company Securitize to create the BlackRock USD Institutional Digital Liquidity Fund (BUIDL), a tokenized fund on the Ethereum network.
On-chain data shows that $100 million in USDC stablecoins were transferred to an address related to the Securitize deployer, which may be a seed capital for the fund.
Foreign media: Do Kwon will be extradited to South Korea as early as March 24
Odaily News Terraform Labs founder Do Kwon will be extradited to South Korea as early as March 24. South Korean prosecutors, who are investigating the case, plan to transfer Do Kwon as soon as he arrives in South Korea and continue the investigation.
Do Kwon, who was sentenced to four months in prison in Montenegro for using a false passport, will complete his sentence on the 23rd, and extradition proceedings will begin immediately after the end of his sentence. The South Korean Ministry of Justice plans to discuss the specific extradition timetable and procedures as soon as it receives formal notification from the Montenegrin Ministry of Justice.
Currently, Korean courts have not recognized the security nature of virtual assets. If the court only finds the crime of fraud this time, the victim must directly file a request for civil damages against Do Kwon and others. However, if his conduct is found to be a securities-related crime (a violation of the Capital Markets Act), then under the Securities-Related Class Actions Act, as long as one person wins, it will have the effect of winning against all victims who are not involved in the lawsuit. (Korea Daily)
Project News
Ethereum core developers launch initiative to increase gas limit
Odaily News Ethereum developers have launched a new initiative to increase the long-term static gas limit of the Ethereum blockchain network, believing that this change can help expand Ethereum.
Ethereum core developer Eric Connor and former MakerDAO smart contract leader Mariano Conti launched the pump the gas website, aiming to increase Ethereums Gas limit from 30 million to 40 million, which may lead to a reduction in transaction fees on L1 15% to 33%.
“We are calling on independent stakers, client teams, mining pools, and community members to help,” Connor said in an article published on March 19. (Cointelegraph)
Polygon completes Napoli hard fork upgrade and introduces RIP-7212 proposal
According to official news from Odaily, Polygon announced the completion of the Napoli hard fork upgrade. Polygon PoS became the first chain to use RIP-7212 to activate the Rollup Improvement Proposal (RIP), providing new precompiled support for the secp 256 r 1 curve. Progress on mainstream technology interoperability.
The upgrade also aligns with Ethereum’s recent Dencun hard fork improvements, which improved block space efficiency, limited self-destruct opcode range, and reduced memory copy technology overhead. RIP-7212, developed by the RollCall Working Group, promotes collaboration between L2 solutions to consolidate Ethereums expansion and innovation efforts and improve user experience.
Avalanche launches $1 million community coin liquidity mining incentive program Memecoin Rush
According to official news from Odaily, the Avalanche Foundation announced the launch of Memecoin Rush, a liquidity mining incentive program. The program has now begun and will be implemented in multiple phases. It is reported that Memecoin Rush incentive funds have reached US$1 million, aiming to help expand liquidity and drive user participation. This time it is mainly aimed at the community currency ecosystem on Avalanche.
Odaily News Conflux Network is collaborating with financial technology company AnchorX to launch a stable currency anchored to the Hong Kong dollar as soon as the second quarter of this year.
Fan Long, founder and CEO of Conflux, said in an interview that the AnchorX team hopes to launch its “AxHKD” stablecoin as soon as possible, but many things depend on the speed of the regulatory sandbox.
Earlier this month, Conflux and AnchorX announced a beta test of AxHKD, which aims to maintain a 1:1 anchorage with the Hong Kong dollar, “backed by high-quality liquid asset reserves.” According to a statement from the company, AxHKD will initially launch on the Conflux public chain, with OKLink Trust serving as the custodian for its stablecoin issuance. (The Block)
WEMIX will reorganize token economics and the maximum supply of WEMIX will be reduced by 60%
Odaily News The WEMIX Foundation will destroy approximately 400 million WEMIX in its total reserves at one time. At the same time, the foundation will introduce halving to change the block minting structure of WEMIX 3.0.
This reorganization will reduce the maximum supply of WEMIX by 60% from the current 980 million pieces. During the halving, the WEMIX ecosystem’s network fees will be converted into block minting rewards (PMR). The total size of team rewards will be reduced from 90 million to 50 million. 40 million will be destroyed immediately. Development costs will be spent over a total of five years.
In January this year, WEMIX reduced the number of KLEVA tokens minted in each block by 10% every month.
Nim Network will issue airdrops to DYM stakers, Parallel and other game NFT holders
Odaily News The AI game chain Nim Network based on Dymension will issue airdrops to DYM pledgers, Parallel, Pirate Nation and other game NFT holders, with the airdrop amount accounting for 9% of the total token supply. Applications are currently open.
Odaily News Jupiter announced that next week JUP DAO will usher in an important event: launching the funding core working group proposal and confirming the working method of the working group. JUP DAO will officially inject 10 million USDC (for operating funds) and 100 million JUP. Funds will be transferred to a separate DAO wallet. The 10 million USDC comes from income, and the 100 million JUP comes from community distribution. For public goods funding and Jupiverse growth. Start discussing a grant program that will allow the community to request funding to facilitate Jupiverse growth and public good funding.
Decentralized stablecoin project Frax Finance advances proposal to restore protocol fee switch
Odaily News The decentralized stablecoin project Frax Finance passed a new proposal to advance the process of restoring the protocol fee switch.
“We propose to turn the protocol fee switch back on, with 50% of proceeds flowing to veFXS and the other 50% being used to purchase FXS and other Frax assets to be paired in the FXS Liquidity Engine (FLE),” Frax Finance said in Thursday’s proposal wrote. “FLE will allow Frax to continue building its balance sheet while significantly increasing the liquidity of FXS and its paired Frax assets.”
The proposal also details how a new token economic system would fully collateralize the decentralized stablecoin FRAX, in addition to suggestions for an enhanced yield structure. Regarding its illiquid nature of the staking reward veFXS, “Once this proposal passes, veFXS stakers will receive full protocol fees, which will be added to the veFXS revenue allocator on the Ethereum mainnet, and soon to the veFXS revenue distribution contract on Fraxtal. (The Block)
Decentralized options platform Opyn is about to launch a perpetual contract protocol
Odaily News The decentralized options platform Opyn announced on Make a trade where 0-Perps will unlock 5 features: Stablecoin, Lending, Leverage Trading, Interest Rate Trading Stablecoin, and Buy ERC 20.
OpenSea officially launches Seaport 1.6 NFT market protocol
Odaily News Opensea officially issued a document on the X platform stating that it officially launched the Seaport 1.6 NFT market protocol.
The protocol introduces a new feature enabled by the Ethereum Cancun upgrade, namely Seaport hooks. Similar to Uniswap v4 hooks, the Seaport hooks feature allows developers to build related applications that extend the utility and liquidity of NFTs. In some operations, the gas fee of Seaport 1.6 is 5% cheaper than that of Seaport 1.5.
Odaily News Bitcoin wallet Xverse posted on the This means that the inscription has been destroyed and no new Runestone can be created under the same parent inscription.
According to information disclosed by Leonidas, the parent inscription is worth 8 BTC.
Odaily News According to official news, the Web3 game information platform GAM 3 S.GG announced the details of the G 3 token airdrop. It is reported that this airdrop event allocated 50 million G 3 tokens, accounting for 5% of the total supply, and will It is carried out in three stages:
1. Phase 1: To reward early users and supporters, 15 million tokens will be distributed on the day of listing, fully unlocked and without vesting.
2. Phases 2 and 3: Focusing on upcoming products, 35 million tokens will be allocated to future major features to incentivize new platform users and activations.
According to official news from Odaily, the social protocol The Arena (formerly Stars Arena) March Madness event has been launched and will provide more than 2x bonus points, the first batch of bonus points has been distributed, and the ARENA token airdrop will start after the 3-week March Madness event.
An official reminder is that it is currently an airdrop of points only, so please do not interact with or click on any links that may be found in your wallet for any ARENA tokens.
Odaily News BOME founder Darkfarms posted a message on the X platform seeking community opinions. He said that the inscription 149970 is currently being auctioned. The inscription may be paid in BOME, and it is planned to consider destroying some BOME to further reduce the supply.
Whales Market founder’s AI project gm.ai opens pre-sale results query
According to official news from Odaily, the AI project gm.ai launched by Whales Market founder dexter has opened pre-sale result query on the Dune platform. Users can now verify whether the wallet pre-sale commitment is successful or has been refunded.
SLERF: Soul-bound NFT will be issued to affected pre-sellers and refund contributors
Odaily News Meme project SLERF founder @Slerfsol posted on the X platform that he planned to release Soul-bound NFT to the wallet addresses of affected pre-sellers and refund contributors. This will allow other projects to airdrop tokens or NFTs and provide this to them as a souvenir of SLERF’s history.
SLERF founder: Will start sending the first wave of refunds to users affected by Slerf pre-sale
Odaily News The founder of Meme project SLERF issued a statement saying that the first batch of refunds will begin to be sent to users affected by the Slerf pre-sale, starting from the minimum deposit amount, and refunding as much as possible with the funds currently raised. LBANK will first conduct a test run and then distribute the entire amount raised so far. Since we are still in the process of raising $10 million, users with large donations please be patient. Solscan data shows that the Slerf project donation address has so far received 4,004.66 SOL (approximately US$752,200) and SPL tokens worth a total of approximately US$16,900.
Odaily News Temple Pharmacy project staff responded on Discord about the transfer of 32,000 SOL: To ensure the safety of funds, they were transferred to multiple secure hardware wallets, some of which were online CEX and market-making liquidity transfers. Once the fund deployment is completed, it will be centralized to the distribution address. funds.
According to previous news, on-chain data showed that Temple Pharmacy, which completed the fundraising of 32,000 SOL early this morning, distributed SOL to multiple addresses. At present, all the fundraising funds have been transferred, and the balance of the original fundraising address is only 0.5 SOL.
Odaily reminds users to pay attention to asset security and choose targets carefully.
Meme Project Mike will conduct free airdrops for Solana phone holders
Odaily News Solana chain Meme project Mike posted on the X platform that Mike will conduct free airdrops to Solana mobile phone holders, and the airdrop will be completed before March 24.
Investment and Financing
Web3 privacy infrastructure Espresso completes $28 million in Series B financing, led by a16z crypto
Odaily News Web3 privacy infrastructure Espresso announced the completion of a $28 million Series B financing, led by a16z crypto. The new funding will be used to continue product development, expand investment in the rollup ecosystem, and expand the size of the Espresso Systems team. This latest funding will be used to continue product development, increase investment in the rollup ecosystem, and expand the size of the Espresso Systems team. . (blockworks)
Crypto exchange Rails completes $6.2 million in seed round led by Slow Ventures
Odaily News Self-hosted cryptocurrency exchange Rails announced the completion of a US$6.2 million seed round of financing, led by Slow Ventures, with participation from CMCC Global, Round 13 Capital and Quantstamp.
Rails co-founder and CEO Satraj Bambra said that Rails uses a centralized order book to drive the execution of the best transactions, combined with a self-hosted decentralized solution on the blockchain to achieve transparent fund custody, thereby protecting the security of user funds and Gain user trust and avoid problems like FTX from happening again. (Crowdfundinsider)
Moondance Labs closes $6 million in strategic financing led by Scytale Digital, KR 1 and SNZ
According to official news from Odaily, Moondance Labs, an application chain infrastructure protocol Tanssi Network development company, announced the completion of US$6 million in strategic financing. Scytale Digital, KR 1 and SNZ co-led the investment, and Arrington Capital, Borderless Capital, Hypersphere, Blockchain Founders Fund, YBB and Angel investor Gavin Wood and others participated in the investment.
Funds from this round of financing will be used to expand the Moondance Labs team and further develop Tanssi. In addition, Tanssi plans to launch an incentivized testnet campaign.
Dutch cryptocurrency trading platform CoinMart receives $3 million investment from IDG Capital
Odaily News European cryptocurrency trading platform CoinMart received a US$3 million investment from IDG Capital. The two parties have also established a strategic partnership. It is reported that this is also the first time IDG Capital has invested in a regulated cryptocurrency exchange in Europe. The new funds will be used to promote CoinMart artificial intelligence. Develop the platform and recruit talents to respond to changes in European MICA regulatory policies.
Web3 AI startup Tensorplex Labs completes $3 million in seed round financing
Odaily News Web3 AI startup Tensorplex Labs announced the completion of a US$3 million seed round of financing. Canonical Crypto and Collab+Currency jointly led the investment, with participation from DCG, Quantstamp and Amber Group. The company will use the funds to develop decentralized artificial intelligence Smart infrastructure. (CoinDesk)
Odaily News The decentralized social trading protocol Bi.social has completed US$3 million in financing, with participation from Web3 Vision, WAGMi Ventures and QF Capital. The funding will be used to support the continued development of the social protocol and its upcoming features. (The Block)
According to official news from Odaily, Web3 application user participation incentive protocol Metaverse Headquarters (MVHQ) announced the completion of a US$1.1 million seed round of financing, led by Consensys and Polygon. Through this financing, MVHQ will further simplify and incentivize user participation in Web3 applications. And promote cooperation with Blast, Magic Eden, Flow and Berachain, etc., in addition to introducing protocols and incentives through tasks.
OpenStamp trading platform receives seed funding led by Animoca Ventures
Odaily News OpenStamp, a comprehensive service platform based on the STAMP protocol, received seed round financing led by Animoca Ventures, KuCoin Ventures, MH Ventures, VitalTao Capital, Lotus Capital, Brotherhood Ventures, Blue Node Capital, D 64 Ventures, Luminescence Capital, Spicy Capital, Halvings Capital, SPEC Capital and YM Capital also participated in the investment. OpenStamp offers a variety of products including Mint/Deploy services, SRC-20/SRC-721 marketplace, Indexer, Explorer and Launchpad.
Nebula Revelation completes a new round of financing, with participation from DWF Labs and others
Odaily News Web3 space-themed game Nebula Revelation announced the completion of a new round of financing, with participation from DWF Labs, Waterdrip Capital, Central Research, Stratified Capital, CapsuleX Labs and others.
Digital asset custodian Hex Trust plans a new round of financing this year
Odaily News Hong Kong cryptocurrency custodian Hex Trust is seeking to turn a profit and raise a new round of financing amid the recovery of the virtual asset market.
Hex Trust co-founder and CEO Alessio Quaglini said that as cryptocurrency prices have surged in recent months, the company expects to be profitable this year and plans a new round of financing, but it has not yet been determined as investors remain cautious Whether it will be done in the first half of this year or the second half of this year.
Hex Trust completed an $88 million Series B round of financing in March 2022, with a valuation of $300 million. Investors include Animoca Brands, Liberty City Ventures, Ripple, Terraform Labs, Morgan Creek, Primavera Venture Partners, LeadBlock Partners, and Protocol Labs and Adrian Cheng (CEO of Hong Kong real estate giant New World Development), etc. (South China Morning Post)
Character*Voice
Odaily News Ethereum co-founder Vitalik said in a speech at ETH Taipei on Thursday that the main challenge facing the Ethereum proof-of-stake mechanism is the potential centralization issue from general staking activities.
Regarding staking, Vitalik pointed out that a group of lazy stakers own at least 32 ETH, but they choose staking pools and liquidity staking tools instead of individual staking. He suggested that these stakers can choose solo staking to mitigate centralization risks. However, he also pointed out that even if personal staking becomes very easy, ... many people are still not going to do it.
In a February post on the Ethereum Researchers Forum, the Ethereum Foundation’s Barnabé Monnot introduced “rainbow staking” as a strategy for decentralized staking activities. This conceptual framework aims to attract agreement service providers, both “personal” and “professional”, to maximize their participation in differentiated agreement services. Vitalik describes the essence of the concept as dividing pledges into “heavy” and “light” categories.
When talking about future plans, Vitalik raised a key question: In the long term, the key question is basically - obviously there are people who have ETH, they have a lot of ETH, but they are lazy. What is the way for them to participate? If we dont give a realistic answer, theyre going to put all their money into a centralized platform... If we have a good answer to that, then I think it should be possible to build a very secure, Robust staking economic design.” (The Block)
Former Binance Labs head: Traditional Wall Street firms are pushing for Ethereum ETF approval
Odaily News Bill Qi, chairman of Cypher Capital and former global head of financing at Binance Labs, said: “It is not people in the cryptocurrency circle pushing for the approval of ETFs, but Wall Street companies trying their best to achieve this goal. The main lobbyist for the Ethereum ETF It will be the institutional asset managers. It is in their best interest to launch an ETF and get ETF approval because they are in the AUM (assets under management) game and in order to grow AUM they need to get ETF approval.” (Cointelegraph)
Coinbase Chief Legal Officer: SEC Rejects Ethereum ETF Application Without Justifiable Reasons
Odaily News Coinbase Chief Legal Officer Paul Grewal believes that the SEC has no legitimate reason to reject the Ethereum ETF application. Coinbase CLO stated that before becoming SEC Chairman, Gary Gensler also testified to Congress that Ethereum was not a security. A digital asset like Ethereum is not an investment contract or other security if it does not involve ongoing contractual obligations associated with a commercial enterprise. He believes that even if the Howey test is applied, Ethereum cannot pass it.
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