headlines

TRON DAO: TRON is designated as Dominica's "national public chain" and is authorized to issue national tokens

Odaily News Tron DAO announced that it has become the "national public chain" and national blockchain infrastructure of the Caribbean country Dominica, and has been authorized to issue the country's national token Dominic Coin (DMC). The highest level of cooperation with a sovereign state.

Mango’s potential loss of $100 million due to flash loan attack, officials say they are taking measures

Odaily News Solana ecological decentralized financial platform Mango tweeted: "We are currently investigating an incident in which hackers withdraw funds from Mango through oracle price manipulation. We are taking measures to allow third parties to freeze liquidity. As a precautionary measure, we Deposits will be disabled on the front end and updates will be provided as the situation develops."
OtterSec, a blockchain security agency, previously tweeted that Mango had a potential loss of $100 million, as the attacker temporarily increased the value of the collateral and then withdrew a large amount of loans from the Mango vault.

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headlines
TRON DAO: TRON is designated as Dominica's "national public chain" and is authorized to issue national tokens

Odaily News Tron DAO announced that it has become the "national public chain" and national blockchain infrastructure of the Caribbean country Dominica, and has been authorized to issue the country's national token Dominic Coin (DMC). The highest level of cooperation with a sovereign state.

Mango’s potential loss of $100 million due to flash loan attack, officials say they are taking measures
Odaily News Solana ecological decentralized financial platform Mango tweeted: "We are currently investigating an incident in which hackers withdraw funds from Mango through oracle price manipulation. We are taking measures to allow third parties to freeze liquidity. As a precautionary measure, we Deposits will be disabled on the front end and updates will be provided as the situation develops."
OtterSec, a blockchain security agency, previously tweeted that Mango had a potential loss of $100 million, as the attacker temporarily increased the value of the collateral and then withdrew a large amount of loans from the Mango vault.
Crypto Investment Firm 21Shares Launches Bitcoin ETP in Middle East

security incident

Odaily News Cryptocurrency investment product company 21Shares has launched a physical bitcoin exchange-traded product (ETP) in the Middle East, which will be listed on Nasdaq Dubai.

According to previous news, in September, 21.co, the parent company of 21Shares, completed a financing of US$25 million at a valuation of US$2 billion. The company now offers more than 46 products, listed on 12 exchanges in 7 different countries. (CoinDesk)
Tianjin City implements differential electricity prices for virtual currency "mining" electricity

Odaily News Tianjin Development and Reform Commission recently issued a notice on the implementation of differential electricity price policies for virtual currency "mining" electricity, in order to rectify virtual currency "mining" activities, further promote energy conservation and emission reduction, and help achieve the "double carbon" goal According to the requirements of the country's relevant electricity price policies, it is decided to implement differential electricity prices for virtual currency "mining" electricity. Relevant matters are notified as follows:

1. Implement differential electricity prices for virtual currency "mining" electricity, and implement electricity prices for eliminated enterprises, with a price increase standard of 0.5 yuan per kWh.
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Project News

security incident

UXD Protocol Affected Nearly $20 Million in Mango Attack

Odaily News According to official sources, the total amount of funds affected by the Mango attack on the Solana ecological algorithm stable currency protocol UXD Protocol is 19,986,134.9037 US dollars. UXD Protocol stated: Our insurance fund is sufficient to cover losses. UXD is fully secured and will be redeemable by users once Mango Markets recovers from the exploit. The total insurance fund is $53,527,304.7757. UXD Protocol has suspended UXD casting to minimize risk. Minting will be re-enabled once we confirm that the issues with Mango Markets are resolved.

At the same time, users can exchange UXD for USDC on Jupiter Exchange. For UXD holders, there is sufficient liquidity to exchange USDC at par value.
Mango Hacking Proposal: Use treasury of 70 million US dollars to repay bad debts, if passed, part of Token will be returned

Odaily news Mango attack event The hacker initiated a proposal, hoping to use about 70 million USDC in the Mango treasury to repay bad debts. If the proposal is passed, the hacker will transfer the MSOL, SOL and MNGO in the account to the address issued by the Mango team.

Project News

Investment and Financing

Waves Labs Launches Ecosystem Acceleration Program Waves Camp

Odaily News Waves Labs, the growth engine organization of the Waves ecosystem, announced the launch of the eco-acceleration program Waves Camp, and provided each company in the program with up to $100,000 in seed funding support and expert mentorship. Waves Camp will focus on DeFi, metaverse, games, DAO projects, and niche Web3 solutions, ultimately cultivating a growing Web3 community. (Business Wire)
Odaily News NFT trading market x2y2.io completed the first BAYC peer-to-peer loan transaction. BYAC#2846 holders borrow 51.06 wETH by mortgaging their NFT assets, and the loan period is 14 days.

Mobile game developer Homa completes USD 100 million in Series B financing and plans to build the Homa Metaverse

Investment and Financing

Web3 makeup brand Heart Of Shades completes Pre-seed round at Rs 4 crore valuation

Odaily News India's first Web3 makeup brand Heart Of Shades announced the completion of the Pre seed round of financing at a valuation of 40 million rupees. Several angel investors and HNI participated in the investment, but the specific financing amount has not been disclosed yet. It is reported that the Bengaluru-based start-up company founded by female entrepreneur Niharika Dolui in 2022, they will use the funds to expand the market, accelerate front-line production, develop cutting-edge technology and promote brand building activities. (lokmat times)

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Dubai DMCC Crypto Center Signs $150 Million Acceleration Fund Agreement with Brinc

Odaily News Dubai Government Commodity Trade and Enterprise Authority and Free Zone DMCC Encryption Center signed a US$150 million accelerator fund agreement with portfolio company Brinc. DMCC Encryption Center members can now also access Brinc’s global startup network and business mentoring services. Brinc founder and CEO Manav Gupta said the newly launched Dubai Metaverse strategy aims to support more than 40,000 virtual jobs by 2030.