During the week from July 25th to July 31st, the events worthy of attention in the progress of star projects include:Aptos Completes $150 Million Financing；Polygon releases plans for the second half of 2022；Arbitrum Announces Testnet Upgrade Plan to Upgrade Arbitrum One to Nitro Stack；Optimism launches Ethereum-native conditional trading system Drippie；Unstoppable Domains Closes $65M Series A Funding At $1B Valuation；Multi-signature wallet Safe plans to launch Token SAFE；Mirror Launches Web3 Subscription Service；Aave's Proposal to Issue Overcollateralized Stablecoin GHO Has Been Voted；Sushi team nominates new director for salary of up to $8.3 million, causing community dissatisfaction；Yuga Labs will collect 5% royalties from Meebits secondary market sales；Zed Run has opened the ZED token airdrop application。
Aptos, a new public chain project founded by former Meta employees, has completed $150 million in financing, led by FTX Ventures and Jump Crypto. Other investors include Griffin Gaming Partners, Franklin Templeton, Circle Ventures and Superscrypt. Aptos, which has raised $350 million so far this year, plans to invest in the development of its secure and scalable layer 1 blockchain. (The Block)
Bottom-Layer1
Aptos Closes $150M Funding Led by FTX Ventures and Jump Crypto
Aptos, a new public chain project founded by former Meta employees, has completed $150 million in financing, led by FTX Ventures and Jump Crypto. Other investors include Griffin Gaming Partners, Franklin Templeton, Circle Ventures and Superscrypt. Aptos, which has raised $350 million so far this year, plans to invest in the development of its secure and scalable layer 1 blockchain. (The Block)
Ripple Q2 Report: Total XRP Sales of $408.9 Million, Up 49% QoQ
Ripple released its report for the second quarter of 2022. Ripple sold $408.9 million worth of XRP tokens in the quarter, an increase of 49% compared to the previous quarter, and total sales accounted for 0.47% of the global XRP transaction volume. Ripple attributed the increase in sales to the growing popularity of its On-Demand Liquidity (ODL) product, which saw a nine-fold increase in transaction volume year-over-year.
In its report, Ripple stated that it will continue to work hard to "quickly resolve" the US SEC's lawsuit against it, and once again emphasized that the resolution of the lawsuit is important to the entire industry. (U. today)
Cardano Mainnet Vasil Hard Fork Upgrade Delayed Again for Weeks
IOG Community and Ecosystem Vice President Tim Harrison and IOG Technical Manager Kevin Hammond revealed that the Cardano mainnet Vasil hard fork upgrade planned for the end of July has been postponed again, but did not specify how many weeks it will take.
Hammond said: "Obviously, from where we are now, it may be a few weeks before the Vasil hard fork actually takes place. This is very important. All users must be ready to go through the hard fork to ensure a smooth process." Harrison “This will ensure that API developers and exchanges are ready.” Overall, the main reason for delaying the hard fork upgrade is to give Cardano’s engineers more space to conduct thorough testing. (The Crypto Basic)
According to official news, the NEAR Foundation stated that many projects that are currently launched or are actively building on the Harmony network are now facing uncertainty, so anyone who is currently building on Harmony is invited to join the NEAR community and has contributed to the Harmony ecosystem. The system's programs have raised substantial relief funds.
Fantom Community Funding Ecosystem Project Proposal Using Burn Fee Passed
The Fantom community’s proposal to use burning fees to fund ecosystem projects has been passed, and voting began on July 5th, with 99.75% support from all participants. The proposal stipulates that Fantom will fund a brand new treasury with 10% of its transaction fees, 10% is one-third of the 30% destruction fee of the network, and the destruction rate of Fantom will be reduced to 20% after the proposal is implemented. (The Block)
According to the official governance website, Stephen Tse, the founder of Harmony, said in the comment area of "Horizon Theft Compensation Proposal", "Thank you for your comments and suggestions. I have read all your information from beginning to end and met with the team to discuss. We understand the community's concerns, and we will start over. Based on the community's suggestions and feedback, we will create more proposals and opportunities for everyone to participate in this process. Over the next few days, I will ask the community to work on my Stay tuned as we work with the team. We will bring you new information. I sincerely feel that the community is disappointed by the current proposal. Our next steps will hopefully bring more choice and clarity to the community.”
Aurora Releases Vote, a Decentralized Governance Platform, and Launches VOTE Token
According to official news, Aurora, the NEAR ecological EVM expansion network, recently announced the release of Vote, a decentralized governance platform, and launched the VOTE token, which can authorize community members to manage the protocol. Users can earn VOTE by staking AURORA on Aurora+, and the amount of tokens that can be earned is proportional to the duration of the pledge and the number of tokens staked.
The public chain Juno Network temporarily suspended block production due to consensus issues
The non-custodial pledge Stakely.io service provider stated that the Cosmos ecological smart contract public chain Juno Network could not reach a consensus on block 4136531 due to non-deterministic blocks, so the chain has stopped. The exploited vulnerability was related to the Authz module, which was fixed on Cosmos SDK v0.46.x. Since this release contains some breaking changes that have not been tested, JUNO cannot simply be upgraded. Therefore, Juno is creating a v0.45 branch, including security patches. Once the patch is ready, Stakely.io will coordinate as a validator to restart the chain from the new genesis of block 4136532, skipping block 4136531.
Humanode Announces Opening of Testnet 3 "Ramiel" to the Public
According to official news, Humanode announced that the EVM-compatible Testnet 3 "Ramiel" is open to the public for testing.
It is reported that Ramiel is the next important step in the release of the Humanode mainnet, focusing on updating the system, transitioning from a permission-requiring Proof of Authority to a permissionless system, and introducing EVM compatibility to the Humanode testnet. Humanode is currently making final preparations for a public sale and mainnet launch in the coming months.
Bottom-Layer2
Bottom-Layer2
Polygon officially announced that it will focus on three key areas in the second half of 2022, namely: products, activities and accelerators, aiming to attract 1 million developers to join the Polygon ecosystem, including focusing on the zk field and improving startup accelerator services. In addition, Polygon has pledged $20 million to fund community projects to combat climate change, and has already purchased $400,000 in carbon credits in April and offset the equivalent of 104,794 tons of carbon dioxide emissions in June.
Arbitrum Announces Testnet Upgrade Plan to Upgrade Arbitrum One to Nitro Stack
The developer of the Ethereum Layer 2 network Arbitrum said that it will soon upgrade Arbitrum One to the Nitro stack, and announced the testnet upgrade plan, which will be upgraded to the mainnet within a few weeks after the testnet migration is successful. Specifically:
1. A new version of the Nitro node will be released on July 25th, which will need to run Rinkeby after the upgrade (happens on the 28th);
2. Goerli Nitro Devnet will be shut down on July 26, and the Goerli Nitro Testnet consensus will be updated on July 27 (all Nitro nodes will be updated to beta.3 or later);
3. On July 28, the Rinkeby test network will be temporarily offline (about 2-4 hours), and Offchain Labs will convert the existing classic database to Nitro database through a series of steps;
4. When the Rinkeby migration occurs, the contract on the chain will be upgraded to Nitro, and the chain will be restored after the test is completed;
5. In addition, Offchain Labs will maintain public support for the Rinkeby testnet (upgraded to Nitro) until the Arbitrum One mainnet is upgraded to Nitro.
Optimism launches Ethereum-native conditional trading system Drippie
According to official news, OP Labs stated that Optimism has launched Drippie, a trust-minimized Ethereum native conditional transaction system, which allows transactions to be executed under specific conditions. Drippie allows for easy programming (in Solidity) of sets of checks/actions that Optimis calls "drips" to perform most of the on-chain operations that Optimis requires day-to-day. Optimism uses drips to maintain balances in various accounts, periodically transfer funds between L1 and L2, and even automatically pay for Drippie's own transactions.
The MetisDAO Foundation Announces the Launch of the "Metis Marathon" Builder Incentive Program
The MetisDAO Foundation announced that "Metis Marathon" will launch a 26-week builder incentive program. The first participant in the program is Sushiswap, with two more participating protocols to be announced in the coming weeks. In addition, other participating small, medium and large agreements may be rewarded and have the opportunity to apply for grants and funding. MetisDAO stated that this move aims to stimulate the development of the Metis ecosystem. In addition to introducing some TVL-headed DeFi protocols, it will also expand the ecosystem by directly stimulating innovative native DApps in Metis.
According to official news, Aztec Network, a second-layer privacy solution for Ethereum, announced the open source EVM programming language Huff. According to reports, the EVM programming language was built by Zac Williamson, the founder of Aztec Network, in 2019. Huff's original purpose was to build an elliptic curve arithmetic smart contract called "Weierstrudel". At the time, it was cheaper to run than built-in precompiled smart contracts, but still expensive. So Williamson used a new language Huff to write smart contracts. Huff is a simpler programming language that allows users to program directly in EVM machine code, with some quality upgrades.
ImmutableX's NFT game developer Immutable Games Studio has begun layoffs
Immutable Games Studio, an NFT game developer under ImmutableX, an NFT layer-2 expansion solution, has begun layoffs. Immutable Games Studio has fired multiple other employees, including him, according to a tweet from James Wakeham, the company's senior game designer.
Ethereum side chain Gnosis Chain plans to go online within this week to merge developer networks
infrastructure components
infrastructure components
MetaMask has been updated to version 10.18.0, which will prompt the "SetApprovalForAll" contract and require user confirmation to prevent malicious contracts from stealing assets in the wallet after being authorized.
Unstoppable Domains, a Web3 digital identity platform, announced on Wednesday that it has completed a $65 million Series A round of financing at a valuation of $1 billion. This round of financing was led by Pantera Capital, with participation from Mayfield, Gangeels, Alchemy Ventures, Redbeard Ventures, Spartan Group, OKG Investments, Polygon, CoinDCX, CoinGecko, etc. The new funding will be used to reduce the friction of crypto payments between apps and build a reputation-based rewards program.
Unstoppable Domains Closes $65M Series A Funding at $1B Valuation, Led by Pantera Capital
Unstoppable Domains, a Web3 digital identity platform, announced on Wednesday that it has completed a $65 million Series A round of financing at a valuation of $1 billion. This round of financing was led by Pantera Capital, with participation from Mayfield, Gangeels, Alchemy Ventures, Redbeard Ventures, Spartan Group, OKG Investments, Polygon, CoinDCX, CoinGecko, etc. The new funding will be used to reduce the friction of crypto payments between apps and build a reputation-based rewards program.
Lido proposes new terms for sale of LDOs with lock-up period to Dragonfly Capital
After being voted against by the community, the liquid pledge agreement Lido Finance once again submitted a revised proposal to Dragonfly Capital regarding the sale of Lido DAO (LDO) Token to Dragonfly Capital. The new proposal still calls for the sale of 10 million LDOs to Dragonfly, but the sale will come with a one-year lock-up period. In addition, different from the previous flat selling price of $1.45 per LDO, the new plan adds a second pricing plan based on the 7-day average LDO price at the end of the voting process plus a 5% premium, and will choose the higher of the two The higher one, and cannot be higher than 2.25 US dollars. (The Block)
Stefan George, co-founder and chief technology officer of the multi-signature wallet Safe (formerly Gnosis Safe), said that Safe plans to launch a Token called SAFE in September or October, and later clarified that there are too many uncertainties about the exact date. After the launch of SAFE Token, 5% will be airdropped to Safe and GNO users, and within four years, 15% of Token will belong to GnosisDAO.
According to previous news, Safe announced the completion of US$100 million in strategic financing, led by 1kx and participated by Tiger Global and others. (CoinDesk)
Mirror launches Web3 subscription service, readers can connect wallet to subscribe content
News Mirror announced the launch of web3 subscription service. The new feature allows readers to use their wallet to subscribe to any content published on Mirror and receive email notifications when new content is published.
secondary title
CeFi
Coinbase Faces SEC Investigation Over Cryptocurrency Listing Issues
Cryptocurrency exchange Coinbase is facing a U.S. investigation into whether it improperly allowed Americans to trade digital assets that were supposed to be registered as securities, according to three people familiar with the matter. Since Coinbase expanded the number of tokens it offers to trade, SEC scrutiny of the platform has increased, people familiar with the matter said. (Golden Ten)
Zipmex seeks to raise at least $50 million to repair its balance sheet
Crypto exchange Zipmex said it is seeking to raise at least $50 million to repair its balance sheet. Zipmex is in discussions to sell all or some of its assets, the people said. Funding targets roughly represent Zipmex’s total exposure to Babel and Celsius, which are $48 million and $5 million, respectively. (Bloomberg)
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DeFi
Aave's Proposal to Issue Overcollateralized Stablecoin GHO Has Been Voted
As of 18:00 on July 31, Aave's proposal on issuing the decentralized over-collateralized stablecoin GHO has been voted through, with an approval rate of 99.99% (501,000 AAVE). Aave will implement the creation of the GHO stablecoin through the new Aave Improved Protocol (AIP). The Aave DAO will be responsible for managing the stablecoin when it is created. It will allow users to use the collateral they provide to mint GHO, and the borrowing income of GHO will be Owned by Aave DAO.
On July 26, the Sushi team nominated software engineer Jonathan Howard as Sushi director. But the community is unhappy with the proposed compensation. If elected, he will receive $800,000 in stablecoins per year over a four-year vesting period, plus 600,000 SUSHI tokens (currently worth $1.29 each), plus 350,000 SUSHI to be issued as new product launches bonus. If the price of SUSHI rises above the various milestones under his leadership, another 1.2 million SUSHI will be issued to him, that is, the price of SUSHI rises above $3, $5, $7, $9, and $11, and the rewards gradually increase. On this basis, if SUSHI rises above $11, its incoming executive will receive a bonus of $8.35 million based on his proposed compensation. The current governance vote is 68% suspended. (The Defiant)
Opyn: Automatic treasury strategy Crab v2 is online
The decentralized options platform Opyn recently announced that the automatic treasury strategy Crab v2 has been launched, allowing users to earn income by shorting oSQTH when ETH does not skyrocket or plummet.
According to reports, the strategy periodically adjusts its holdings of oSQTH debt and ETH collateral to achieve delta neutrality, meaning that the positive exposure of the collateral to ETH exactly offsets the negative exposure of oSQTH, making the position Exposure to ETH price is neutral. The biggest gain is if the ETH price stays the same.
NFT
Yuga Labs will collect 5% royalties from Meebits secondary market sales
The NFT series Meebits announced that Yuga Labs will charge a 5% royalty on all secondary market sales of Meebits (such as in OpenSea, LooksRare) for team operations and other purposes.
OpenSea: Deprecated Wyvern order publishing to API functionality
OpenSea announced that it will deprecate the Wyvern order publishing to API function, but still supports Wyvern order retrieval.
According to previous news, OpenSea announced in June that it would switch from the Wyvern protocol to its self-developed Seaport protocol, aiming to reduce Gas costs by 35%.
According to official news, Element is about to start the release of version 2.0 and the community governance plan. Element2.0 is upgraded to an NFT aggregation trading platform. The Element team is still discussing with investors and community users about the details of the specific community incentives and governance plans. At the same time, Element will take a snapshot of the wallet addresses of Element's historical users in August.
Ledger Announces Launch of NFT Distribution Platform [LEDGER] Market
According to an official announcement, hardware wallet manufacturer Ledger announced the launch of the NFT distribution platform [LEDGER] Market, referred to as [L] Market. [L]Market partners include Brick, LVMH-owned Tag Heuer, and NFT projects such as RTFKT and DeadFellaz, with plans for other NFT launches to be announced in the coming weeks.
Game Space is about to open NFT airdrops for one billion Steam players
game
game
YGG Releases First Year Review Report: Dajin Members Have Earned Over 10 Million USD in Income
According to official news, P2E game guild Yield Guild Games (YGG) released its first year review report, which disclosed that its members have earned more than $1,000 in income. YGG focuses on providing value to members who make money, and has positioned YGG and its regional subDAO partner ecosystem as a clear leader in this field, with nearly 30,000 members worldwide benefiting from it as of May 2022.
YGG stated that the next 12 months will be a period of exploration, testing, learning and building, and will continue to stand with its partners and the community.
Axie Infinity to Add Robot Screening Tool GeeTest to Protect User Assets
The blockchain game Axie Infinity will use the GeeTest CAPTCHA solution to protect the security of users' encrypted assets and to combat large-scale online robot threats while enhancing user experience. (Globenewswire)
Blockchain horse racing game Zed Run has opened ZED token airdrop applications
security incident
security incident
SlowMist: Nirvana was attacked by flash loans, please pay attention to asset security
According to information from SlowMist District, Nirvana, a stablecoin project on the Solana chain, encountered a flash loan attack. The attacker deployed a malicious contract and used the flash loan to borrow 10,250,000 USDC from Solend, and then called the buy3 method of the Nirvana contract to buy a large number of ANA tokens, and then called The Nirvana contract swap method sold part of the ANA and got USDT and USDC. After repaying the flash loan, the total profit was 3,490,563.69 USDT, 21,902.48 USDC and 393,230.32 ANA tokens. Then the hacker sold the ANA tokens and passed all the dirty money through the cross-chain bridge transfer.
According to PieDun monitoring, a Rug Pull occurred in the DeFi project DRAC Network, the price of its token TEDDY dropped by 99.4%, and 10,000 BNB and 2 million BUSD were transferred to Binance.
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