Evening News | The total DAU of major public chains accounts for 0.05% of the internet; PandaDAO will release a community refund and dissolution proposal

Organizer: Nianqing, Chain Catcher

"What Important Events Happened in the Last 24 Hours"

1. Ripple and SEC Request Judge for Summary Judgment in Ripple's Sale of Unregistered Securities XRP Case

Ripple and the U.S. Securities and Exchange Commission (SEC) have requested the judge to quickly issue a summary judgment in the case regarding Ripple's sale of XRP tokens, as both parties do not wish for the legal proceedings to continue to a full trial. Previously, the SEC accused Ripple of selling unregistered securities when issuing XRP tokens.

It is reported that summary judgment is a distinctive civil litigation system in common law countries, allowing judges to make substantive and binding judgments on all or part of a case without a hearing. (The Block)

2. Research: Total DAU of Major Public Chains Only Accounts for 0.05% of the Internet, Web3 Developers Make Up Less Than 0.06% of Global Developers

Recently, Tomasz Tunguz, General Manager of Redpoint Ventures, stated at the DuneCon 2022 conference that the daily active users (DAU) of major public chains total approximately 2.5 million, while the DAU of the internet is 5 billion, accounting for only 0.05%.

Additionally, there are about 16,000 developers in the Web3 space, while there are approximately 27 million developers worldwide. Web3 developers account for less than 0.06%. (Source Link)

3. African Crypto Exchange Yellow Card Completes $40 Million Series B Financing Led by Polychain Capital

African cryptocurrency exchange Yellow Card Financial has completed a $40 million Series B financing round, led by Polychain Capital, with participation from Valar Ventures, Third Prime Ventures, Sozo Ventures, Castle Island Ventures, Fabric Ventures, DG Daiwa Ventures, The Raba Partnership, Jon Weiner, Alex Wilson, and Pat Duffy.

This round of financing will be used to drive the company's business growth, expand into the African market, and innovate product development. Last September, Yellow Card completed a $15 million Series A financing round, led by Valar Ventures, Third Prime, and Castle Island Ventures. (PR Newswire)

4. PandaDAO to Release Community Refund and Dissolution Proposal

Core member of the decentralized autonomous organization PandaDAO, Panda, tweeted that they will release a community refund and dissolution proposal. After today's audit is completed, it will be published on Snapshot, and all funds in the community treasury will be used for refunds. Panda stated that the main reasons for dissolution are issues with governance structure and DAO management. According to reports, PandaDAO previously raised about 1,900 ETH on Juice Box and launched the NFT project Random Panda Club and the NFT trading protocol ERC721P. (Source Link)

5. Data: GMX Average Fees Reach $700,000 in the Past Week, Ranking Third Among All Applications

According to CryptoFees data, the average fees (protocol fees) of the derivatives protocol GMX in the past week ranked third among all applications, approximately $700,000, surpassing leading applications like ENS and Curve.

GMX is a leading derivatives protocol in the Arbitrum ecosystem, supporting low swap fees and zero price impact trading. Trades are supported by a multi-asset pool, earning liquidity provider fees through market making, swap fees, and leveraged trading. (Source Link)

6. Web3 Information Aggregation Platform TwitterScan Secures Investment from Huobi Ventures, KuCoin Ventures, Amount Undisclosed

Web3 information aggregation platform TwitterScan announced that it has secured investments from Huobi Ventures, KuCoin Ventures, Gate Labs, among others, with the specific amount undisclosed. TwitterScan is an NFT data website launched by MetaScan, primarily divided into three sections: Token, NFT, and KOL. According to the official roadmap, it plans to create an NFT DID system similar to ENS in the future. (Source Link)

7. Bitdeer Acquires High-Security Storage Facility Le Freeport in Singapore for 40 Million SGD

According to Bloomberg, Bitdeer, a company backed by Wu Jihan, has acquired the high-security storage facility Le Freeport in Singapore for 40 million SGD (approximately 28.4 million USD). Wu Jihan himself has confirmed the transaction, which was recorded by accounting regulatory agencies as having occurred in July.

Le Freeport was built at a cost of 100 million SGD (nearly 71 million USD) and opened in 2010. Insiders indicated that about three-quarters of the acquisition funds went to creditors, including DBS Group, while Yves Bouvier and other shareholders, who previously held 70% of Le Freeport, received about 5 million SGD (nearly 3.55 million USD) after repaying debts and covering costs. (Bloomberg)

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

1. "A Method to Transfer and Auction Soulbound Tokens on OpenSea"

In early May, after the publication of Ethereum founder Vitalik's paper on soulbound tokens (SBT), it quickly became one of the hottest topics in the entire Web3 space. Recently, when Vitalik released a new book, he used this SBT, allowing anyone to donate any amount and receive a soulbound NFT. However, the new token standard not only lacks reliable applications for soulbinding in the market but also has vulnerabilities regarding forced transfers of the soulbound tokens themselves.

This article will introduce how to auction SBT on OpenSea. For those experienced in contract technology, the core content can be understood with just two keywords: contract wallet /A3S protocol.

2. "Ethereum Roadmap: After the Merge, Rollup + Sharding is Key to Scalability"

Ethereum has finally completed its consensus iteration from POW to POS. The merge is just one part of the Ethereum roadmap. So, what does the Ethereum roadmap look like afterward? Due to data availability, the merge will not bring any changes. That is, Ethereum will not scale, and the Layer 1 user experience remains the same. At this point, Rollup + Sharding has made changes in execution and data availability, enabling Ethereum's scalability.

3. "Understanding the Challenger in Ethereum Staking: Swell Network"

Swell Network is currently in its protected mainnet and is a permissionless, non-custodial Ethereum liquid staking protocol. To make staking liquid, Swell mints and returns NFTs to depositors, known as swNFTs. swNFTs are containers that include swETH and information about staking, yields, and validators.

swETH (non-rebase) is returned at a 1:1 ratio for ETH deposited (principal). Swell has become the first liquid staking service to adopt Distributed Validator Technology (DVT), which provides high capital efficiency and permissionless access to its validator set. It also plans to offer DeFi vaults and white-label features within dApps, allowing node operators to create their own front ends on top of the protocol.