During the week of July 12th to July 18th, the events worthy of attention in the progress of star projects include: NEAR launched the first venture capital DAO; Web3 Foundation announced the 10th funding project; Khala Network won the fourth parachain insertion of Kusama Slot auction; Uniswap V3 launched Optimism; SUSHI strategic financing proposal was resisted by the community; UMA proposed the token financing plan Success Tokens; Instagram cooperated with Dapper Labs and NBA Top Shot to present "Top Shot Moments" using AR.
public chain
public chain
NEAR launches its first venture capital DAO: MOVE Capital, to strategically fund user-friendly and strategically important projects that align with NEAR’s guiding principles, thereby accelerating the growth of the NEAR ecosystem. At present, MOVE Capital has provided the user incentive application Quidli with the first VC support of 3,500 NEAR for developing its existing solutions on NEAR and completing the integration of NEAR. Quidli expects to complete its integration with NEAR within the next month and fully offer microrewards by August 1, 2021.
Web3 Foundation announces the 10th funding project, including 27 projects including Moonbeam
The Web3 Foundation announced the 10th round of recipient projects through its Open and General Grants programs. The Web3 Foundation signed 27 new funding agreements in the second quarter of 2021, and since the foundation's funding program began in 2019, there are now close to 300 funded projects.
Khala Network Wins Kusama's Fourth Parachain Slot Auction
It is reported that Terra is a Tendermint-based blockchain that deploys a series of stablecoins based on its TerraUSD (UST) pegged to the US dollar. Terra uses an algorithm to maintain a stable value of UST and its derivatives, and if the value drops, traders are incentivized to buy excess UST supply in exchange for LUNA, Terra's native governance token. Earlier this year, Pantera Capital and Coinbase Ventures invested $25 million to help Terraform Labs build more UST-backed applications, such as CHAI, a popular mobile payment dapp with more than 2.5 million users in South Korea. (CoinDesk)
Terraform Labs, the Korean company behind the public chain Terra, has raised $150 million in financing, with participation from Arrington XRP Capital, Pantera Capital, Galaxy Digital and BlockTower Capital. Terraform Labs will use the new financing to fund Terra blockchain-based projects through Terra’s Ecosystem Fund.
It is reported that Terra is a Tendermint-based blockchain that deploys a series of stablecoins based on its TerraUSD (UST) pegged to the US dollar. Terra uses an algorithm to maintain a stable value of UST and its derivatives, and if the value drops, traders are incentivized to buy excess UST supply in exchange for LUNA, Terra's native governance token. Earlier this year, Pantera Capital and Coinbase Ventures invested $25 million to help Terraform Labs build more UST-backed applications, such as CHAI, a popular mobile payment dapp with more than 2.5 million users in South Korea. (CoinDesk)
Harmony's first round of quadratic funding Grant starts
Harmony's second party funded Grant Round-1 to start on HackerLink, an open source developer platform of DoraHacks. In this round of Grant, Harmony provides an initial prize pool of US$50,000 to encourage developers in the United States and around the world to contribute ideas and build early projects to the Harmony ecosystem.
Harmony is a PoS-based sharding scheme that includes a beacon chain and multiple shard chains. PoS and sharding are feasible methods to solve the problems that may exist in the public chain, such as low performance, poor scalability, and high gas fees. And Harmony successfully launched in June 2019 with 600 nodes and 4 shards, becoming the first project to launch a PoS shard public chain.
Cosmos' first IBC DeFi protocol Gravity DEX has been deployed
On July 13, Cosmos’ first IBC DeFi protocol, Gravity DEX, announced that it has completed its deployment, and will launch Gravity Bridge to connect Ethereum and other EVM compatible chains.
DeFi and related infrastructure
DeFi and related infrastructure
Uniswap V3 Launches Its Alpha Version on Optimistic Ethereum Mainnet
Uniswap V3 officially announced the launch of the Ethereum expansion solution Optimism, which supports transactions and provides liquidity. According to the disclosure of the Uniswap project party, its Layer 2 version is still in the Alpha stage, and Optimistic Ethereum will support an initial throughput of 0.6tps, which is basically the same as the throughput of Uniswap in Ethereum Layer 1. It is still in the testing stage and has not been fully released. The future transaction throughput will exceed this level. Optimism said that the current version of Optimism’s asset bridge supports six tokens: DAI, WBTC, USDT, EURT, ETH, and SNX, and has officially started charging with a mechanism similar to EIP1559. In addition, the launch of Uniswap V3 this time is a stress test for Optimism. Optimism may repair possible problems and upgrade again. Optimism also stated that after the stable operation of Uniswap V3, it will prepare to open the public deployment of Optimism and plan to go live later this month.
Non-profit organization DeFi Education Fund sells 500,000 UNI
Defi Education Fund, a DeFi education organization, stated on Twitter that with the help of Genesis, the team has sold 500,000 UNI and obtained 10.2 million USDC to help the project development. It is understood that the DeFi Education Fund received 1 million UNI funding earlier this month, and according to the previous proposal, the organization will release a detailed budget within 90 days after the proposal is passed.
Afterwards, the DeFi Education Fund responded to the token sale by saying,"In view of the unpredictable and ever-changing regulatory environment, and although the proposal stated that 1 million tokens will be distributed in the next few years, DEF also has certain autonomy, and most of DEF's fees will be denominated in US dollars, so the exchange Half of the tokens are USDC to fund operations. Its sales accounted for less than 5% of UNI's daily trading volume on the day of the sell-off, so it is unlikely to have a negative impact on the market price of UNI."
Uniswap announced the launch of six new features and improvements, namely automatic fee tier selection, liquidity range map, create proposal user interface, 30 language translation and crowdsourcing tools, Uniswap help center, documentation improvements and a new login page. Where automatic fee tier selection means that the app will now automatically default to suggesting reasonable fee tiers for most LP strategies, but LPs can still manually select fee tiers by clicking the edit button to display additional fee tiers and their The respective liquidity allocation percentages. The liquidity range graph means that the LP interface will display the real-time distribution of liquidity in the selected pool, providing insight into the overall market opinion on how to best allocate liquidity. LPs can adjust their minimum and maximum prices using the range sliders next to pre-existing manual entry fields.
According to official news, Shreyas Hariharan, founder of DAO treasury aggregation platform Llama, proposed version 0.1 of the liquidity incentive plan framework in the Uniswap community. The goal of the Uniswap Liquidity Program (ULP) framework is to accelerate the migration of liquidity to UniswapV3 and encourage new market participants. Try to provide liquidity and further distribute UNI tokens. The plan proposes to use 1.65 million UNI as the initial maximum budget, which is allocated to two quarters as a liquidity reward and divided into three types of trading pairs: stablecoin trading pairs, mid-end trading pairs (such as DeFi governance tokens), deposit certificates Tokens (such as cToken or aToken).
According to official news, SushiSwap released a weekly report stating that last week, 0xMaki proposed a Sushi strategic financing proposal, and more than half of the voters had a negative attitude towards the proposal. If the public opinion persists, the proposal will not be passed. The objections mainly focus on: the amount sold to institutions is too high, the discount is too low (compared to the undervalued blue-chip projects), the lock-up time is too short, the number of participating investors is too large, and the investors can bring The benefits of the investment are highly overlapping, and individual institutions with confirmed investments behave more like arbitrage traders than long-term strategic partners.
According to the previous news, SushiSwap launched a fund pool diversification financing proposal, intending to allocate SUSHI worth about 60 million US dollars to institutional investors.
MakerDAO voted to approve the "Activate Lightning Foundry Module" proposal and implemented it
According to official news, MakerDAO's proposal on "activating the Flash Mint module and increasing the debt bottom line" was approved and implemented in early July. According to previous news, MakerDAO launched a proposal to activate the Flash Mint module and increase the bottom line of debt. The specific proposals are: 1. Activate the lightning casting module, the maximum amount of casting is 500 million DAI, and users will pay 0.05% fee; 2. Increase the general debt floor (dust), except for PSM-USDC-A, ETH-B and ETH-C In addition, the debt dust parameter of all vault types will be increased from 5,000 DAI to 10,000 DAI; the dust parameter of ETH-B vault type will be increased from 15,000 DAI to 30,000 DAI.
Aave founder: The new version of the Aave protocol is being audited
Stani Kulechov, founder of the decentralized lending protocol Aave, tweeted that the new version of the Aave protocol is being audited.
According to previous news, Aave is currently experimenting with NFT as collateral, and hopes that the protocol will be suitable for various NFT use cases when it is released.
DeFi fixed-rate agreement Anchor Protocol receives about $70 million in grants from Terraform Labs
Anchor Protocol, a DeFi fixed-rate agreement, received a grant of 50 million SDT (approximately 70 million UST) from Terraform Labs (TFL). Assuming a utilization rate of 35% (currently) and an average loan LTV of 35%, this grant will enable Anchor to support $500 million worth of deposits at 20% APR for approximately 1.5 years. TFL stated in its proposal a week ago that the UST for this grant will be obtained through on-chain transactions and will not cause downward pressure on LUNA.
UMA proposes the token financing plan Success Tokens, incentivized through call options
According to official news, the synthetic asset protocol UMA proposes a new solution for venture capitalists to purchase tokens from the project DAO, Success Tokens, instead of the usual way of purchasing protocol tokens at a discount, such as what Maker, Solana, and Sushi were considering before plan. Success Tokens is a combination of two tokens: the token of the project itself and the call option of the token of the project, which means that the project party is not providing discounts to investors. The part of the call option is only valuable after the price of the project token increases, which sets up a more reasonable incentive mechanism: investors can only get their "bonuses" when the project performs well.
According to official news, Andre Cronje, the founder of Yearn, initiated a proposal in the Cream Finance community, suggesting that iceCREAM tokens become a productive asset of CREAM tokens, and iceCREAM can earn protocol fees. iceCREAM tokens like CRV tokens have three main use cases: voting, staking and growth.
iceCREAM works as follows: lock CREAM for 1 week to 4 years in exchange for iceCREAM; iceCREAM is non-transferable and tradable; 50% of the protocol reserve will be distributed to iceCREAM pledgers as ycrvIB tokens; 1 iceCREAM is equal to one vote in CREAM’s future governance; The conversion of iceCREAM into voting rights can be used to determine the distribution chain and market for liquidity mining of CREAM tokens.
According to official news, Lido DAO has passed and voted to upgrade Lido's ETH withdrawal certificate. It is reported that the withdrawal certificate is upgraded to an upgradable smart contract to eliminate the risk of collusion between the main signatories of the withdrawal.
The DeFi insurance agreement Cover Protocol released the V2 version, and added new"blue pool"
On July 15, the DeFi insurance agreement Cover Protocol issued a document announcing the launch of the V2 version, and added"blue pool"(Blue Pool). Currently, users can provide and purchase insurance for the following blue-chip agreements through the CoverRules order book, including CURVE, YEARN, BANCOR, AAVE, COMPOUND, BALANCER, UNISWAP. DAI will be used as a collateral token for minting insurance and as a payment token when claims are accepted.
The decentralized trading platform DODO stated on Twitter that the DIP-4 proposal to "migrate 5 million DODO tokens to the Arbitrum mainnet for incentive governance" has been voted through.
The total trading volume of dYdX Layer 2 perpetual contracts reached 3 billion US dollars
secondary title
Layer2
Ethereum's second-layer solution zkSync 1.x mainnet upgrade completed
According to official news, the zkSync 1.x mainnet upgrade of the second-layer solution of Ethereum has been completed. The new functions include: 1. Support NFT casting, transfer, and exchange; 2. Support ERC 20 token exchange and limit order transactions; 3. Support Listing without permission.
Polygon is about to announce the launch of a studio dedicated to chain game NFT
On July 14th, Sharon, Polygon China’s market consultant, revealed that Polygon will soon announce the launch of a studio focused on chain game NFT, which will be dedicated to building Metaverse, continuously empowering chain games, NFT and other tracks, and the official announcement will be issued in a few days .
According to the official announcement, the cross-Rollup transfer application Hop Protocol announced that it has been launched on the Polygon, xDai and Ethereum mainnets. Hop said that it will first support users to transfer USDC on Polygon, xDai and Ethereum mainnets. Once the USDC bridge is running smoothly, support will be extended Assets such as DAI, USDT, ETH, WBTC, MATIC, etc. In addition, Hop first supports expansion solutions compatible with EVM, and then will support protocols such as Optimism and Arbitrum. Hop also started the USDC liquidity mining plan on Polygon, and users can obtain MATIC tokens by providing liquidity.
Cloud Computing Service Provider Ankr Expands Its API Service to Ethereum Scaling Solution Arbitrum
Ankr, a cloud computing service provider, announced that it will expand its API service to Arbitrum, the Ethereum expansion solution. Arbitrum solutions increase speed and reduce costs, and Ankr's API endpoints enable developers to easily interact with and build on this network. It is reported that the Ankr API service has previously been extended to Polygon, xDAI and Fantom.
API Service Provider Infura Will Integrate Ethereum Scaling Network Arbitrum
According to official news, Infura, an API service provider for Ethereum and IPFS, announced that it will integrate Arbitrum, the Ethereum expansion network. Infura stated that the cooperation will expand Arbitrum’s transaction bandwidth and optimize Gas fees.
ConsenSys' Ethereum development tool Truffle has added support for Arbitrum
Joseph Lubin, founder of ConsenSys, an Ethereum incubator, tweeted that ConsenSys' Ethereum development tool Truffle has added support for the Ethereum expansion program Arbitrum. Truffle provides developers with the boilerplate structure needed to build applications on Arbitrum through the Arbitrum Box, and developers can use the regular Solidity compiler to compile contracts for Arbitrum.
NFT
Instagram Partners with Dapper Labs and NBA Top Shot to Deliver 'Top Shot Moments' Using AR
Will Yoder, Head of Instagram Sports Partnerships, announced on Twitter that he has reached a partnership with Dapper Labs and NBA Top Shot to use AR on Instagram to present "Top Shot Moments", currently available through NBA Top Shot's Instagram account View 6 kinds New AR effects.
In previous news, developer and whistleblower Alessandro Paluzzi recently revealed that Instagram appears to be working on deploying NFT functionality on its app. Instagram posts offering NFTs will have a "Collectible" tag, which will show users that there are NFTs available for purchase in the post. Instagram has yet to publicly announce the launch of NFT products on its platform. However, the company has mentioned the possibility of adding payment functionality to the platform. Instagram head Adam Mosseri has previously spoken about tools that could help creators earn money through the app.
security incident
security incident
The decentralized cross-chain transaction protocol THORChain (RUNE) claimed in the telegram group that the protocol was attacked and lost about 4,000 ETH, worth about $7.65 million. The network has been shut down while developers investigate the severity of the vulnerability and how to fix it. A more detailed assessment and fix steps will be announced shortly, and damaged users will be compensated in the coming weeks. The THORChain team stated that the treasury has sufficient funds to repay the stolen funds, but is seeking the attacker to contact the team to discuss returning the funds to obtain the corresponding bug bounty.
The cross-chain trading protocol AnySwap stated that its new multi-chain prototype V3 router was attacked as early as July 10, and the Anyswap bridge was safe, but the new V3 cross-chain liquidity pool was affected. It is understood that two v3 router transactions were detected under the V3 Router MPC account on BSC. The two transactions had the same R value signature, and the hacker deduced the private key of the MPC account in reverse. All V1/V2 bridge transactions are audited, they do not have identical R transactions, and all bridge funds used in V1/V2 are safe. The team has fixed the code to avoid using the same R signature. AnySwap multi-chain router V3 will be restarted within 48 hours. Trail of Bits has been reviewing V1/V2 and will help resolve the v3 incident. The final loss of funds in this attack was 2,398,496.02 USDC and 5,509,222.73 MIM. The team will take remedial measures against all stolen funds to provide full compensation, and V3's LP will have no loss.
DeFiPie (PIE), a lending protocol based on Ethereum and Binance Smart Chain, tweeted that its application was hacked. The team is currently working with security audit companies to find a solution, and reminded liquidity providers to withdraw from their applications. All liquidity is withdrawn, as it is currently not safe to hold assets in DeFiPie applications. CoinGecko quotes show that PIE is now at $0.00660435, down 66.6% in 24 hours.
DeFi income aggregator PancakeBunny tweeted that its version on Polygon was attacked by an external force and has suspended all Polygon Sushi Vaults. According to officials, Polygon vaults, BSC PancakeBunny vaults, and BUNNY are all safe at present. Details will be announced later. The security company PeckShield tweeted that PancakeBunny suffered a flash loan attack, and the attacker made a profit of 1281 WETH.
ApeRocket Official: Flash Loans Caused a Total Loss of $1.26 Million, V2 Will Be Released on BSC to Restart
According to official news, ApeRocket, a DeFi revenue mining aggregation and optimizer, released details of flash loan attacks and compensation plans. The BSC version and Polygon version of ApeRocket encountered flash loan attacks at 4:30 AM and 8:00 AM (UTC), respectively, and lost $260,000 and $1 million. ApeRocket said it will attempt to compensate all users affected by the issue and those who held SPACE/pSPACE prior to the attack. For the BSC version, ApeRocket is developing V2 and plans to relaunch the website under this new version soon. ApeRocket will open a liquidation pool, and also plans to establish repurchase and burning to increase the price. For the Polygon version, because of the hasty release, there is no other solution but to set a new token and distribute this new token to all users who hold pSPACE. ApeRocket will also employ an aggressive buyback strategy using the performance fees accumulated by Aperocket V2 in Polygon.
Bondly Finance officially confirmed that it was attacked by an unknown party, and users are advised to stop trading BONDLY tokens
According to official news, the digital collectibles market platform Bondly Finance (BONDLY) has officially confirmed that it has been attacked by an unknown party and advises users to stop trading BONDLY tokens. Bondly said action had been taken and business as usual would proceed as soon as possible.
Earlier news, PeckShield tweeted that the digital collectibles market platform Bondly Finance (BONDLY) was suspected of being attacked, and 373 million BONDLYs were minted on the Ethereum network, resulting in a drop in token prices. The huge BONDLY token casting address is 0x58a058ca4b1b2b183077e830bc929b5eb0d3330c. PeckShield sent Dun to question whether it was a Rug pull (a large amount of liquidity was withdrawn, causing a smash).
IOS
Android