Top News
Japanese Prime Minister: Web3 is part of the new capitalism
Odaily News - Japanese Prime Minister, Fumio Kishida, delivered a video speech on the WebX platform organized and operated by CoinPost. When discussing the "new capitalism" of the Kishida administration, he stated that Web3 is part of the new capitalism and emphasized "using the solution to social problems as an engine for growth." Web3 has the potential to change the traditional framework of the internet, trigger social changes, and the government is striving to improve the environment for promoting Web3. Prime Minister Kishida strongly hopes that major Japanese companies can announce a large-scale project to create a valuable economic zone in the metaverse space to the world at this conference, and he also hopes that the Web3 industry can regain attention and vitality, and give birth to various new projects. (Coinpost)
CZ: Binance will launch comprehensive services on the new platform in Japan in August
Odaily News - CZ, on Tuesday, through a video at a conference in Tokyo, stated that Binance will launch comprehensive services on its new platform in Japan in August. (Bloomberg)
Previously, on May 8th, it was reported that Binance had initiated a plan for its Japanese subsidiary to transition to the new platform. Binance will start establishing a new, fully regulatory compliant subsidiary in Japan.
Earlier, in November 2022, Binance acquired the regulated cryptocurrency exchange Sakura Exchange Bitcoin (SEBC). As part of the transition, SEBC will cease its current services by May 31st and reopen in the following weeks under the name Binance Japan. Japanese users will need to register on the new entity. The migration will be available after August 1st, 2023, and will include new identity verification processes (KYC) to comply with local requirements.
Twitter Official Website Logo Changed to X
Odaily News Twitter official website information shows that the previous bluebird logo on the website has been changed to a new black background white word X logo, and there have been no changes to the app.
Industry News
Odaily News According to relevant documents, Binance, CEO CZ, and Samuel Lim (defendants) have applied for permission to submit a legal memo to the U.S. court to initiate a motion to dismiss the lawsuit filed by the U.S. Commodity Futures Trading Commission (CFTC). The defendants believe that the complexity of the lawsuit is limited by the 15-page limit of the legal memo and request to expand the number of pages to 50. The CFTC lawyers do not object to this request.
FTX updates the list of debtors
Odaily News FTX's claims agent Kroll has announced the list of FTX's debtors, a total of 102, including Alameda Research (Bahamas) Ltd, FTX Canada Inc, FTX EU Ltd, FTX Hong Kong Ltd, FTX Japan Holdings K.K., FTX US Trading, Inc, FTX Ventures Ltd, Ledger Holdings Inc, etc.
Odaily News: EDX Markets (EDXM) announced that it has integrated with digital asset institutional trading technology provider Talos. This collaboration will enable EDX Markets to leverage Talos' end-to-end trading platform, enhance EDX Markets' capabilities, and provide clients with more liquidity channels. Talos is the first Order and Execution Management System (OEMS) integrated with EDX Markets. By integrating with Talos, EDX Markets gains access to a network of over 40 providers, including exchanges, custodians, OTC desks, and market makers. (Businesswire)
Project News
Winning Projects of Sui Summer Hackathon Announced, Desig, Torai, and 30 other teams awarded
Odaily News: The winning projects of the Sui Summer Hackathon, held in collaboration with KuCoin Labs, have been announced. A total of 30 teams were awarded, with the multi-chain multi-signature solution Desig and the ZK-based liquidity layer Torai receiving the first prize. The winning projects span various tracks including DeFi & Payments, Infrastructure & Tools, Gaming & AI, NFT & Social & DAO, with a total prize pool of $285,000.
Avalanche Foundation to allocate $50 million to purchase on-chain tokenized assets
Odaily News: The Avalanche Foundation revealed that it will allocate up to $50 million to purchase tokenized assets created on its Layer-1 blockchain. Called Avalanche Vista, the program aims to highlight the value of tokenization in different areas such as stocks, credit, real estate, and commodities. (Techcrunch)
Iron Fish announces the launch of the community Grants program
Odaily News: Privacy-focused Layer 1 Iron Fish has announced the launch of its community Grants program, which aims to fund builders, creators, and researchers aligned with Iron Fish's vision. Iron Fish specifically mentions its interest in projects that can bridge Iron Fish with other blockchains. Interested projects can now submit their applications on the official interface, and Iron Fish will respond within a week. Approved projects will receive not only financial support but also technical guidance and community promotion from Iron Fish.
Odaily News: Celo's temperature check proposal for transitioning to Ethereum L2 has opened for community voting, with the current support rate at 100%. This proposal is a community vote in support of Celo transitioning from an independent, EVM-compatible Layer 1 to an Ethereum Layer 2, rather than a vote on the architecture or design choices for achieving the goal of becoming a Layer 2.
Updates on the first fault-proofing system of OP Stack developed by Optimism
Odaily News: According to an official blog post, Optimism is developing the fault-proofing system for the OP Stack, which includes Fault Proof Programs (FPP), Fault Proof Virtual Machines (FPVM), Dispute Game, and other components. Furthermore, the separation of FPP and FPVM allows the same operational program to run in both FPVM and ZKVM, helping OP Stack ZKP achieve ZK-based validity proof and supporting low-latency cross-chain bridges between different networks. In addition, Optimism plans to introduce an alpha version of the fault-proofing system to the testnet.
OP Stack-based L2 network PGN officially launched the mainnet
Odaily News: Public Goods Network (PGN), a Layer 2 network based on OP Stack, announced the official launch of its mainnet. After six months of network launch, PGN will assess and allocate fees based on accumulated data.
Gitcoin Grants 18 (GG 18) will be running on PGN and donations for this round will take place from August 15th to August 29th, with applications open starting from August 1st.
Helium will undergo its second halving on August 1st, limiting HNT's maximum supply to 223 million
Odaily News: The Helium community has approved HIP 20 proposal. According to the proposal, the second halving of Helium will take place on August 1st, reducing the issuance of HNT to 2.5 million per month and limiting the maximum supply to 223 million.
Governance platform Snapshot now supports zkSync Era
Odaily News: Governance platform Snapshot announced its support for zkSync Era. Various DAOs in the zkSync Era ecosystem can now utilize Snapshot for governance without paying Gas fees.
Connext introduces cross-chain token standard xERC 20 to enhance bridged token security
Odaily News: Layer 2 interoperability protocol Connext has launched a cross-chain token standard xERC 20 to reduce liquidity costs and enhance bridging token security.
xERC 20 (ERC 7281) provides token issuers with the ability to manage bridges, set minting limits, and allow selected bridges to mint the same tokens. Additionally, Connext stated that projects deploying xERC 20 today will be fully compatible with the finalized ERC-7281 specification, enabling 1:1 token transfers with zero slippage across chains.
DeFi lending protocol Alchemix Finance has reportedly adopted this new standard.
Frax Founder: V3 version planned to launch within 30 days
Odaily News: Frax founder Sam Kazemian responded to community users on Telegram, stating that they hope to launch Frax V3 within 30 days.
Bored Ape Yacht Club introduces on-chain licensing platform Made by Apes
Odaily News: Bored Ape Yacht Club has partnered with SaaSy Labs to launch an on-chain licensing platform called Made by Apes. Members can apply for unique on-chain licenses for businesses or products (such as clothing, food, games, music, etc.). Additionally, the platform can be used to authenticate and differentiate genuine products produced by BAYC and MAYC holders. It has already collaborated with Ape Beverage, Applied Primate, Artin Motion, Bored Media Group, and more community products will be introduced in the future.
Star Atlas development studio ATMTA announces restructuring and layoffs
Odaily News: Star Atlas development studio ATMTA announced that it will undergo a major restructuring of its business to address the challenging market environment. The CEO of the company stated, "ATMTA is undergoing significant layoffs to maintain its long-term development capabilities for Star Atlas, prioritizing our SAGE and mobile products, which may show better results in a shorter period of time, while extending the development timeline for our other products."
ATMTA suffered a loss of approximately $15 million in the FTX incident, which accounted for a significant portion of its liquid cash balance. Therefore, it has decided to downsize the team and refocus on the SAGE game and mobile applications. The remaining core team will consist of 45 people, down from its peak of 235 people by the end of 2022, and a reduction to 167 people after the FTX incident.
After the restructuring, ATMTA will operate with a leaner team to ensure they have the necessary agility and focus to deliver their key products and maintain their existing products. This move also aims to enhance the company's attractiveness to potential investors for expanding product development when conditions allow. (Cryptobriefing)
Odaily News: EraLend, the zkSync ecosystem lending protocol, announced in a Discord announcement that a security incident occurred at 9:27:21 UTC on July 25th. They confirm that their platform has been attacked. Only USDC has been affected by this incident. All other assets remain safe and unaffected, and users are strongly advised not to deposit USDC at this time.
The EraLend team states that the attack has been brought under control, and the attacker is no longer able to continue their actions. The extent of the impact is currently being assessed and will be announced further. As a precautionary measure, EraLend has suspended all lending operations to ensure the safety of funds. Currently, EraLend is collaborating with cross-chain bridge partners and zkSync to prevent any further potential asset outflows. Meanwhile, EraLend is working closely with cybersecurity companies to determine the source of this attack.
Palmswap attacked, losing over $900,000
Odaily News According to official sources, Palmswap was hacked, currently losing $901,400 USDT funds were stolen, and the official has temporarily suspended the PLP contract and related contracts.
Investment and Financing
Flashbots raises $60 million in Series B funding with a valuation of $1 billion, led by Paradigm
Odaily News Ethereum infrastructure service provider Flashbots raises approximately $60 million in Series B funding with a valuation of $1 billion. The funds raised in this round will be used to develop the MEV network SUAVE, which allows users to transact more cost-effectively and privately on the blockchain.
Flashbots confirmed in an email to The Block that the Series B funding has been fully subscribed by "leading venture capital firms, Layer-2 networks," angel investors, decentralized exchanges and applications, as well as MEV supply chain participants.
In addition, a spokesperson for Flashbots confirmed to CoinDesk that their Series B funding was led by Paradigm.
Crypto hardware manufacturer Fabric Cryptography raises $6 million, led by Metaplanet
Odaily News: Cryptocurrency hardware manufacturer Fabric Cryptography announced the completion of a $6 million Pre-Seed funding round. The round was led by Metaplanet, with participation from Nil Foundation, Inflection, Novawulf, and Era. Fabric Cryptography co-founder and CEO Michael Gao declined to provide valuation information for this funding round but revealed that the company has already received a $50 million order for the chips it is designing and has signed a letter of intent for a transaction worth approximately $100 million with a potential buyer. (Fortune)
Odaily News: Web3 game Delabs Games announced the completion of a $4.7 million seed funding round on Twitter. The round was led by Hashed, with participation from The Spartan Group, Planetarium, Polygon Labs, Merit Circle, and others. Delabs Games stated that since 2021, they have been developing games such as Rumble Racing Star, Space Frontier, and Metabolts. The team mentioned that the games are free to play, allowing Web2 players to participate without the need for knowledge of NFTs, wallets, or cryptocurrencies. Additionally, the games offer a user-friendly login process to guide players into the Web3 space.
Odaily News Sui decentralized social graph protocol Releap Protocol announced on Twitter that it has completed a $2.1 million financing round. More than 30 venture capital firms and angel investors, including Sui Foundation, GBV Capital, Big Brain Holdings, Shima Capital, Arweave Foundation, Assembly Partners, D Web3 Capital, Impossible Finance, Solar Eco Fund, and MoveBit, participated in the investment.
Releap Protocol is currently in the testing phase and has launched a social-centric ecosystem to facilitate the development of developers and users. Next, Releap Protocol will focus on expanding coverage to include more Web3 users.
Crypto fantasy GameFi project Kandle.xyz completes $1.7 million seed round financing, led by Saama
Odaily News Crypto fantasy GameFi project Kandle.xyz announced the completion of a $1.7 million seed round financing, led by Saama. Other participants include PointOne Capital, Cloud Capital, Good Capital, Founder's Room, Seeders Fund, and CoinDCX CEO Sumit Gupta.
The new funding will be used to further develop the platform and expand its user base, featuring its flagship product "Crypto Fantasy Leagues." This is a game that allows players to choose cryptocurrencies as battle tokens and compete against other players in portfolio battles.
Kandle.xyz plans to release a project roadmap on token issuance, token utility, and P2E model. (Indian Web2)
ZigZag founder seeks to raise $500,000 for its new project at a valuation of $10 million
Odaily News Ethereum Layer 2 ZK Rollup Order Book DEX ZigZag founder plans to raise $10 million for its new Perp DEX Invisible at a valuation of $1 million. This will be a public fundraising round with a minimum payment of $10,000. The funds raised will be used for audits, ZK proof providers, and initial operational costs.
Invisible will be released as a separate project, and a portion of the platform's tokens (at least 20%) will eventually be unlocked and released to ZZ holders. The exchange will charge fees and generate revenue from the beginning, with all fees ultimately belonging to token holders.
Global Policy
Odaily News Assistant Minister for Capital Markets, Payments, and Financial Innovation, Nghi Luu, said that the Australian Treasury plans to announce the results of the cryptocurrency regulation consultation in the next few weeks and refine the proposed regulatory framework.
The Australian Treasury has collected feedback from 91 stakeholders in response to the consultation paper to write the Mapping Tokens consultation paper, which is the process of identifying the key activities and functions of products in the crypto ecosystem and mapping them to existing regulatory frameworks. (The Block)
Person * Voice
Odaily News Elon Musk responded on social media regarding the Twitter name change, stating that Twitter was acquired by X Corp to ensure freedom of speech and to drive all applications of X. This is not just a simple name change, it is (the X ecosystem) doing the same thing.
The name Twitter made sense when information was transmitted back and forth in only 140 characters, like a bird chirping. But now you can practically post anything, including several hours of videos. In the next few months, X will increase the ability to communicate and manage the entire financial world. The name Twitter doesn't make sense in this context, so it has to be bid farewell.
Worldcoin Founder: Worldcoin may not succeed, trying is progress
Odaily News. Co-founder of OpenAI and Worldcoin, Sam Altman, tweeted, "Like other ambitious projects, Worldcoin may succeed or may not succeed, but trying such things is a way of progress. In either case, we will love the "haters" because they give us energy. Please keep going."
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