Evening News | U.S. President Biden to Sign Executive Order on Digital Assets; EthSign Completes $12 Million Seed Round Financing
Avalanche Foundation launches a $290 million incentive program; crypto wallet app WalletConnect completes $11 million Series A funding.Organizer: Linqi, Hu Tao, Chain Catcher
1. Evmos Upgrade Failure Analysis Report: Core Team Launched Upgrade Too Quickly, Double Signing Not the Root Cause
Cosmos EVM compatible center Evmos released an analysis report on the upgrade failure, stating that "the Core team launched the upgrade too quickly due to a critical security vulnerability, and double signing is not the root cause; validators cannot be blamed." This will lead to a decision on whether the network continues from block 58700 or resets to 0. Before finalizing, the team needs to gather some final data points. The team is currently working on engineering design to smoothly restart the Evmos network through either option as soon as possible.
Previously reported, on March 7, Evmos stated that the network upgrade failed and would be paused for 24-48 hours; on March 8, Evmos announced that the network would not restart for several days and would release a post-analysis report. (Source link)
The electronic agreement signing platform EthSign has completed a $12 million seed round financing, supported by three divisions of Sequoia Capital: Sequoia Capital, Sequoia Capital India, and Sequoia Capital China. Sequoia Capital India and Mirana Ventures co-led the round, with participation from Amber Group, Circle Ventures, NGC Ventures, HashKey Group, Matrixport, and angel investors Balaji Srinivasan, Tegan Kline (The Graph), Sandeep Nailwal (Polygon), Sid Powell (Maple Finance), and Thomas Vu (Riot Games). (Source link)
3. Crypto Wallet Application WalletConnect Completes $11 Million Series A Financing, Led by USV and 1kx
The crypto wallet application WalletConnect has completed $11 million in Series A financing, co-led by Union Square Ventures and 1kx, with participation from Coinbase Ventures, Semantic Ventures, Zerion, and angel investors Alex Svanevik, Eric Conner, Arjun Bhuptani, Viktor Bunin, Mara Schmiedt, Anna Rose, and Ajit Tripathi.
It is reported that WalletConnect was established in 2018 and is now integrated with over 100 wallets and more than 200 applications. The project is also developing a multi-protocol messaging network, involving direct messaging between wallet users and push notifications for on-chain and off-chain events from applications. (Source link)
The Avalanche Foundation has launched an incentive program worth up to $290 million (4 million AVAX) called "Avalanche Multiverse," aimed at accelerating the adoption and development of its subnet functionality. DeFi Kingdoms is the first project to receive rewards under the new Multiverse program.
At the same time, Ava Labs, the core developer of the Avalanche client, will collaborate with Aave Companies, Golden Tree Asset Management, Wintermute, Jump Crypto, Valkyrie, Securitize, and others to build the first horizontally integrated blockchain designed for institutional DeFi with native KYC capabilities. (Source link)
5. BNB Chain to Host 50-Day Global Hackathon with a Total Prize Pool of $10 Million and Seed Funding
BNB Chain announced that it will co-host a hackathon named "Revelation" with DoraHacks, running from March 20 to May 10 for a total of 50 days, including both online and offline activities. During "Revelation," developers will have the opportunity to participate in remote seminars and live events around the world.
This hackathon will provide a total of $10 million in prizes and seed funding, which will be allocated to winning hackathon teams across six categories, including DeFi, innovative infrastructure, cutting-edge technology, NFT, GameFi and the metaverse, DAO and dCommunities, and public welfare. (Source link)
"What Articles Are the Editors of Chain Catcher Reading?"
1. “U.S. President Biden to Sign Executive Order on Digital Assets to Maintain Technological Leadership”
On March 9 at 19:00 Beijing time, the White House officially announced that President Biden would sign an executive order today regarding ensuring responsible innovation in digital assets, stating that this is the first comprehensive government approach in history to address risks and leverage the potential benefits of digital assets and their underlying technologies.
2. “From CryptoKitties to Flow: How Dapper Labs Became the Most Influential NFT Developer”
In the 2022 World's Most Innovative Companies published by Fast Company, NFT developer Dapper Labs was the only crypto project to make the list, ranking first among the most innovative gaming companies. At the same time, Fast Company released a deep interview article analyzing the company's development history and vision.
3. “Vietnam's Crypto Boom: Coming Together, Potential GameFi Stocks, and Gray Areas”
Axie Infinity, Coin98, Finblox, Neko… More and more Vietnamese projects are entering the crypto market. According to statistics, nearly 6 million people in Vietnam (about 6% of the population) own digital assets.
4. “‘APY Addiction’: The DeFi Aftermath Left by AC”
Last weekend, the soul figure of DeFi, Andre Cronje, liquidated all his assets in the Fantom ecosystem and announced his departure from the DeFi and crypto space. The Fantom ecosystem responded with a drop, with token prices and TVL experiencing an extreme "roller coaster" ride in just a few months. In fact, DeFi had already shown signs of fatigue before AC's departure; Solidly was supposed to be his opportunity to revitalize DeFi, but it ended in failure. What exactly is the problem with DeFi? How should it develop in the future?
