Evening News ｜ .bit completes $13 million Series A financing; Ethereum whale transfers 145,000 ETH to multiple wallets
Acala has frozen the assets stolen by hackers; the Uniswap community has approved the "Fee Switch Pilot" proposal.Organizer: Nianqing, Chain Catcher
"What Important Events Happened in the Last 24 Hours"
1. The Uniswap community has approved the "Fee Switch Pilot" proposal to launch 3 ETH trading pairs.
The "Fee Switch Pilot" proposal for Uniswap began consensus check voting on August 5 and ended on the 10th, with an approval rate of nearly 100%. The pilot sets the fee parameters for the trading pairs at 1/10, including DAI-ETH-0.05%, ETH-USDT-0.3%, and USDC-ETH-1%. All accrued value will remain in the protocol until governance votes on the best use of the funds.
It is reported that previously, Uniswap community member Leighton initiated a proposal regarding the activation of the "fee switch" in the governance forum, pointing out that enabling the fee switch not only means that UNI holders can receive part of the income but also allows the income to be used for protocol development. (Source link)
2. Ethereum Genesis ICO whale transfers 145,000 ETH to multiple wallets.
According to on-chain data monitoring, the Ethereum Genesis ICO whale has become active again after nearly 3 years of dormancy, transferring a total of 145,000 ETH to multiple wallet addresses in several transactions starting yesterday. The whale's initial ETH source was from participating in the Ethereum Genesis ICO, where it acquired 150,000 ETH, of which 5,000 ETH was transferred to the Bitfinex exchange address on July 31, 2019 (ETH=$219). (Source link)
3. Web3 identity protocol .bit completes $13 million Series A funding, led by HashKey Capital and others.
Web3 identity protocol .bit has completed $13 million in Series A funding, led by CMB International, HashKey Capital, QingSong Fund, GSR Ventures, GGV Capital, and SNZ.
It is reported that to date, over 38,000 independent addresses have registered more than 110,000 .bit accounts, with nearly 100 wallets and DApps integrated with .bit. The team also stated that they will launch NameDAO to improve cultural diversity in Web3 and will provide part of the protocol's income, in addition to launching sub-account features. (Source link)
4. LD Capital establishes distributed fund LD Capital X, aiming to invest $200 million annually in Web3 entrepreneurs.
LD Capital announced the establishment of the distributed fund LD Capital X, which will collaborate with 20 GP investment partners to invest $200 million annually in the market. LD Capital X will adopt a distributed, transparent, and open fund model to work with high-quality GPs and LPs, supporting more Web3 entrepreneurs.
The fund will collaborate with institutional investors and investment GPs in a co-investment model, participating together in every aspect from finding quality projects and entrepreneurs to investment and post-investment management. It is reported that LD Capital is an active crypto fund in both primary and secondary markets, with over 300 blockchain projects invested in over the past 6 years. (Source link)
5. Messari founder: ETH is fintech3, not Web3.
Messari founder Ryan Selkis stated on his social media: "Ethereum is great, but I don't think the community has the courage to push for complete decentralization without compromise. The recent performance of USDC regarding the OFAC ban is an example. Bitcoin remains a precious metal. Both are important for the next decade, but honestly: ETH is fintech3, not Web3." (Source link)
6. Acala: The hack was due to a configuration error in the iBTC/aUSD pool, and the stolen assets have been frozen.
Polkadot DeFi protocol Acala tweeted that the previous hack was due to a configuration error in the iBTC/aUSD liquidity pool, leading to a large amount of aUSD being incorrectly mined. The configuration error has been corrected, and the wallet addresses that received the incorrectly minted aUSD have been identified. Acala is tracking on-chain activities related to these addresses.
Preliminary on-chain tracking shows that over 99% of the incorrectly minted aUSD remains on the Acala parachain and has been exchanged for ACA or other tokens. Until the Acala community collectively decides how to resolve the issue of the erroneous minting, the incorrectly minted aUSD and its exchanged tokens will be prohibited from being transferred. (Source link)
7. Galaxy Digital terminates acquisition of cryptocurrency custodian BitGo.
Cryptocurrency financial services company Galaxy Digital announced the termination of its acquisition of cryptocurrency custodian BitGo. Galaxy Digital stated that the termination was due to BitGo's failure to deliver audited financial statements for 2021 that met the requirements of the agreement by July 31, 2022.
Galaxy Digital announced the $1.2 billion acquisition of BitGo on May 5, 2021, to be paid with $265 million in cash and 33.8 million shares of Galaxy Digital stock, but in March of this year, Galaxy Digital indicated in its earnings call that it had renegotiated the terms of the acquisition of the cryptocurrency custodian BitGo. (Source link)
"What Exciting Articles Are Worth Reading in the Last 24 Hours"
1. "Which Web3 Projects Do Silicon Valley Crypto VC Partners Favor?"
In the upcoming cycle, which WEB3 projects do you find most promising and exciting? This question was posed to investors from 15 crypto VCs or institutions by the deep business analysis newsletter The Generalist, and they provided various answers, showcasing their thoughts and "butt" positions: Cosmos-SDK makes customized application chains easier; the institutional crypto credit loan market has broad prospects, with Maple Finance developing rapidly; Notifi and Portabl are making on-chain information transmission and identity verification easier; the social moment of Web3 may be approaching, with investors seeing hope on Farcaster…
2. "Jump Crypto: Analyzing the Pros and Cons of Cross-Chain Bridges like LayerZero and Wormhole"
For hackers, the massive TVL of cross-chain bridges is more attractive than ordinary protocols. Recent attack incidents have been unrelated to the bridging logic of the protocols but rather to smart contract vulnerabilities and operational oversights. Even with the most carefully written code and the best security audits, as the number of connected blockchains and enabled features increases, there will inevitably be overlooked vulnerabilities.
For this reason, cross-chain bridges need to be configured to work securely not only under normal conditions but also to handle extreme situations. Users primarily focus on the following features when using cross-chain bridges: good user experience, low slippage, high efficiency, and asset security. Among these, security is the top priority in evaluating cross-chain bridges.
This article measures the working mechanisms of different cross-chain bridges from the perspectives of trust assumptions, code quality assurance, and security features.
Since last year, discussions about new scenarios for NFTs have been incessant, especially with the arrival of the bear market, which has led to more expectations and thoughts on what NFTs can still be used for. Additionally, in the process of serving NFT project parties and creators, many brands have approached me for advice and solutions on NFT marketing applications. In short, brand parties have noticed the potential of NFTs as a new marketing method but lack understanding and systematic thinking on how to do it and why it can be done. This article primarily answers the question, "What can NFTs help brands achieve?"
