Evening News | Terraform Labs' internal legal team has resigned this month; Yuga Labs is considering migrating ApeCoin to another L1
Optimism launched the Optimism Ecosystem Fund; BitKeep Wallet announced the completion of a $15 million Series A funding round led by Dragonfly.Organizer: Cookies, Chain Catcher
"What important events have occurred in the past 24 hours"
1. Terraform Labs' internal legal team has resigned this month
After UST and LUNA approached zero, the internal legal team of Terraform Labs, the company behind Terra, resigned. Terraform Labs' General Counsel Marc Goldich, Chief Corporate Counsel Lawrence Florio, and Chief Litigation and Regulatory Counsel Noah Axler all stopped working for the company in May, according to their LinkedIn profiles, after less than a year of employment.
According to insiders, the current legal business of Terraform Labs is now handled by external lawyers. (Source link)
2. Yuga Labs is considering migrating ApeCoin to other Layer 1 solutions, with Flow and others offering solutions
Insiders revealed that both Flow and Avalanche are hoping to become solutions for the ApeCoin migration plan, believing they are better suited to host large NFT ecosystems like the one Yuga Labs is building. (Source link)
3. Web3 cross-chain wallet BitKeep announces $15 million Series A funding, led by Dragonfly
According to Bloomberg, Web3 cross-chain wallet BitKeep has completed a $15 million Series A funding round at a valuation of $100 million. This round was led by Dragonfly, with participation from KuCoin Ventures, Foresight Ventures, A&T Capital, SevenX, Matrixport, Bixin Capital, Danhua Capital, Peak Capital, YM Capital, and others.
BitKeep wallet founder Kevin stated that after completing the Series A funding, they will enter a new development phase centered around "cross-chain DAO," aiming to build BitKeep into a cross-chain layer protocol for Web3.0, becoming a foundational infrastructure and an important driving force for the metaverse.
4. Optimism launches the Optimism Ecosystem Foundation, with a focus on the identity-based NFT governance layer Citizens' House in the next phase
Ethereum Layer 2 scaling network Optimism announced the latest progress in decentralized governance, releasing the Optimism Collective governance operations manual v0.1, authorizing the Token House to execute upgrades and fund allocations.
Additionally, a new independent entity, the Optimism Ecosystem Foundation, has been launched to achieve a sustainable governance system, with primary responsibilities including: tracing public goods funding and identity-based NFT experiments, maintaining the "operations manual," and executing governance-oriented on-chain actions. The foundation is led by Optimism's two founders, Jing and Ben.
Optimism stated that the focus will shift to the identity-based NFT governance layer Citizens' House, which will be managed by citizen NFT holders, with the main responsibility of funding public goods that have the most positive impact on the Optimism and Ethereum ecosystems. The first Citizens' House experiment and its corresponding Citizenship NFT series will become the next important milestone for the Collective. (Source link)
5. Web3 social graph protocol CyberConnect raises $15 million in Series A funding, led by Animoca Brands
According to CoinDesk, Web3 social graph protocol CyberConnect has completed a $15 million Series A funding round, led by Animoca Brands and Skyline Capital, with participation from IOSG Ventures, Delphi Digital, Protocol Labs, Tribe Capital, GGV Capital, Spartan Group, Amber Group, Polygon Studios, and SevenX Ventures. CyberConnect plans to use the funds to continue building the protocol, expand the team, and launch new Web 3 projects.
CyberConnect is a decentralized social graph protocol serving Web3.0 social networks and the metaverse. Its mission is to return ownership and utility of social graph data to users while providing infrastructure for all Web3.0 developers to integrate. CyberConnect CEO Wilson Wei stated that 23 projects have already integrated CyberConnect, with 12 more projects in the integration process. (Source link)
6. Crypto trading platform Robinhood to launch crypto wallet, competing with Metamask
Crypto trading platform Robinhood announced at the Permissionless crypto conference that it will launch a new wallet application, allowing users to access NFT markets, DeFi, decentralized exchanges, and trade tokens.
The wallet's functionality is similar to other non-custodial wallets like MetaMask. Robinhood plans to roll out the product to its entire user base by the end of this year, and the company also plans to cover users' transaction gas fees. (Source link)
7. Nansen acquires DeFi information aggregator Ape Board for millions of dollars
Blockchain analytics platform Nansen has acquired the DeFi portfolio dashboard Ape Board, which will be integrated with Nansen's other features. The specific acquisition price has not been disclosed, but a representative from Nansen stated that the acquisition amount is in the eight-figure range.
It is reported that Nansen will incorporate Ape Board's 13 employees into its 120-person team in the coming months, and Ape Board co-founder and CEO Mike Phulsuksombati will shift to oversee portfolio functionality.
Previously, Chain Catcher reported last November that the DeFi information aggregator Ape Board completed a $1.2 million funding round, with participation from Spartan Capital, DeFiance Capital, LongHash Ventures, SCB 10X, and angel investors including Do Kwon, co-founder and CEO of Terraform Labs. (Source link)
8. Web3 accelerator Seedclub completes $15 million funding, with participation from Multicoin Capital and USV
Web3 accelerator Seedclub has completed a $15 million funding round, with participation from Multicoin Capital, Union Square Ventures, Placeholder Ventures, Blockchain Capital, and 10 individual participants. The funding round was completed in exchange for 1 million CLUB Tokens (10% of total supply) for 15 million USDC, valuing Seedclub at approximately $150 million.
It is reported that this funding round aims to aggregate the highest quality talent network in Web3 to launch and accelerate world-changing Web3 communities, enabling Seedclub to strengthen its commitments to existing collaborators and bring in a group of new world-class investors and builders into the Seedclub community. (Source link)
"What are the exciting articles worth reading in the past 24 hours"
SeedClub recently received a $15 million investment led by Union Square, which has attracted a lot of attention from DAO enthusiasts. What does SeedClub do? How do they accelerate? Is SeedClub also a DAO? As a seasoned lurker who has been in SeedClub for a year, the author analyzes its success story from multiple perspectives, including SeedClub's origins, core model, and accelerator operations.
The formula for paradigm shifts has been validated repeatedly over the past 200 years since the first Industrial Revolution in 1769, including steam engines, alternating current, the internet, and Bitcoin. CB Insights once listed 20 reasons for startup failures, with the biggest reason being the hasty development of products without analyzing demand, accounting for 42%. This article analyzes the paradigm shift formula and argues that the crypto space remains the most promising industry, poised to re-experience capital cycles.
3. "Messari: Amid Market Slump, DeFi Still Sounds the Horn of the 'Invisible Revolution'"
The recent Terra incident has brought DeFi back into the public eye: in just a few days, the network evaporated $28 billion. Just two years after the world discovered its programmable building blocks, DeFi finds itself teetering on the brink, caught in the valley of disillusionment. Although the short-term outlook seems bleak, if one believes that expectations for DeFi will never be realized, then they are mistaken.
4. "IOSG Report: Rollups Empowering a New Financial System"
After five years of rapid development, winners in various sectors are gradually emerging, and the DeFi market has made significant progress. However, it is clear that no single blockchain can currently handle the throughput of all DeFi applications. The slowdown in DeFi innovation gives us an opportunity to reflect on the development of DeFi over the past five years and to discuss the theoretical future development path of DeFi in the context of a multi-chain narrative.
