Evening News | Celer Cross-Chain Bridge遭遇DNS攻击; Jia Nan Technology's second-quarter revenue is 1.65 billion yuan

Organizer: Cookies, Chain Catcher

"What Important Events Happened in the Last 24 Hours"

1. Cross-chain bridge Celer urges users to revoke token authorizations, will compensate all users affected by DNS attack

Cross-chain bridge Celer released details of the DNS attack investigation, which targeted third-party DNS providers/ISPs outside the project's own controlled domain. Celer urged users to revoke certain token authorizations, as failure to do so could deplete all approved token amounts.

Additionally, the Celer team stated that the smart contracts were unaffected, the Celer DNS root records were not compromised, and have never been modified. The cBridge frontend will be restored soon. The team will fully compensate affected users and strongly recommends that users enable the Secure DNS option in their web browsers to reduce the likelihood of being affected. (Source link)

2. Canaan's second-quarter revenue reaches 1.65 billion yuan, total computing power sold is 5.484 million TH/s

Canaan announced its financial report for the second quarter of 2022. The report shows that Canaan recorded revenue of 1.65 billion yuan in this quarter, a year-on-year increase of 52.8% and a quarter-on-quarter increase of 21.9%. The year-on-year revenue growth was mainly due to the increase in the average selling price per T of computing power, while the quarter-on-quarter growth was mainly due to the increase in total computing power sold.

In the second quarter of 2022, Canaan's gross profit was 929.7 million yuan (approximately 138.8 million USD), a 12% increase from the previous quarter and a 117.3% increase year-on-year. The total computing power sold was 5.484 million TH/s, a 27.5% increase from the first quarter of 2022, but a 7.7% decrease from the second quarter of 2021. Operating costs increased from 526.3 million yuan in the first quarter of 2022 and 653.9 million yuan in the same period of 2021 to 722.9 million yuan (approximately 107.9 million USD), with quarter-on-quarter and year-on-year increases of 37.4% and 10.6%, respectively. (Source link)

3. Voyager sells all equity in crypto platform Coinify to Ascension ApS for $2 million

Crypto lending company Voyager announced the sale of all equity in the cryptocurrency platform Coinify to Ascension ApS for $2 million in cash. If Ascension ApS subsequently sells Coinify within three years after the transaction, additional conditional profit payments are stipulated, allowing Voyager to retain potential upside.

It is reported that Coinify is a cryptocurrency platform operating in Europe, Asia, and other regions, providing individual and corporate cryptocurrency trading, crypto payment processing services, and enterprise solutions through the Coinify API. Voyager acquired Coinify for $84 million in August 2021. On August 16, 2022, the sale plan for Coinify was approved by the U.S. Bankruptcy Court for the Southern District of New York. (prnewswire)

4. Optimism Foundation transfers approximately 450 million OP tokens to Coinbase custody wallet

PeckShield tweeted that the Optimism Foundation's multi-signature wallet transferred approximately 450 million OP tokens to the Coinbase custody wallet in the early hours of August 18, Beijing time. The Optimism Foundation explained that this transfer is not a token unlock and will not lead to changes in the current token supply; it is merely a planned transfer to investors. (Source link)

5. Nomad launches "Road to Recovery" plan to restart cross-chain bridge and allocate recovered funds

The cross-chain interoperability protocol Nomad has launched the "Road to Recovery" plan to restart the cross-chain bridge and allocate recovered funds.

Specifically, the Road to Recovery will be implemented in three phases: 1. Ongoing fund recovery, expected to last several months. 2. Cross-chain bridge upgrade, expected to be completed in mid to late September. 3. Restart of the cross-chain bridge and allocation of recovered funds, pending the completion time of Phase 2. (Source link)

6. JPMorgan: Coinbase will be a "significant beneficiary" of Ethereum merge due to holding 15% of ETH market share

JPMorgan analyst Kenneth Worthington believes that Coinbase will be a "significant beneficiary" of the Ethereum merge due to its 15% market share of ETH. Additionally, the exchange maximizes the value of ETH staking for its customers.

It is reported that Kenneth has given Coinbase a neutral rating with a target price of $64. He also believes that FTX, Gemini, and Binance are likely to benefit from the Ethereum merge. (Source link)

7. NFT fragmentation protocol Tessera completes $20 million financing, led by Paradigm

NFT fragmentation protocol Fractional announced its rebranding to Tessera and has completed a $20 million Series A financing round, led by Paradigm, with participation from Uniswap Labs Ventures, Focus Labs, eGirl Capital, Yunt Capital, and others. Tessera plans to launch its v2 platform before October. Additionally, Tessera will explore Layer 2 scaling solutions to reduce transaction costs. (Decrypt)

"What Interesting Articles Are Worth Reading in the Last 24 Hours"

1. "Bankless Report: Ideal Investment Strategies During the Ethereum Merge"

The merge will lead to a massive structural transformation for Ethereum, as fees will effectively drop to zero. This transformation will give rise to the first large-scale structurally demanded asset in cryptocurrency history. This article highlights the favorable aspects of Ethereum's core model and some key fundamentals, such as reduced supply and staking rates post-merge. In fact, multiple indicators suggest that despite low gas readings, on-chain activity has been increasing recently. This raises an interesting question: What is the optimal operational fee rate for Ethereum?

2. "After the Ethereum Merge, Do We Still Need Layer 2 for Scaling?"

Recently, Ethereum co-founder Vitalik Buterin predicted during a speech at ETHSeoul that ZK-Rollups will defeat Optimistic Rollups in the Ethereum scaling wars, becoming the primary Layer 2 solution for Ethereum in the future. This has led to a surge in discussions about Layer 2 in the industry. So, what is Layer 2? What is the relationship between ETH2.0 and Layer 2? How will Layer 2 develop in the future? Let’s explore these questions in this article.

3. "Exploring the Microstructure of the NFT Market: What Would an Efficient NFT Market Look Like?"

Why do market inefficiencies exist, why is market microstructure important, and why can't NFTs escape arbitrage? Inefficient markets are always subject to arbitrage by traders who see profit opportunities. Just as we have seen with Bitcoin and later tokens, the inherent digital characteristics of NFTs accelerate this process. This article will also share some brief thoughts on culture as capital and the future of cultural arbitrage from a market perspective, as well as how efficient markets can help eliminate the widespread fraud present in emerging asset classes.