Star Project Weekly | Rococo V1 Open Parachain Test Application; Yearn.finance and Curve reached cooperation (1.11-1.17)
In the week of January 11-January 17, the events worthy of attention in the progress of star projects include: Polkadot parachain test network Rococo V1 open registration application, Plasm Network, Acala has been connected; Synthetix will develop V3 version in 2021 , plans to add a new SNX pledge mechanism and other functions; Andre Cronje revealed that Yearn.finance is cooperating with the Curve protocol.
Star Project Progress
The following are specific project progress and financing events:
Star Project Progress
On November 13, the Polkadot parachain test network Rococo V1 officially opened for registration applications. As of the publication, Plasm Network and Acala have obtained the first two parachains on the Rococo V1 network.
On January 16, Polkadot gave the approximate launch order of Rococo v1 parachains, which are: first batch: Plasm, Acala; second batch: Kilt, Interlay (expected next week); third batch: Darwinia, Phala, Crust, HydraDX; fourth batch: Bifrost, Starks Network, Clover, Zenlink; fifth batch: ChainX, Robonomics, Patract Hub, MathWallet; sixth batch: will communicate in time.
The cross-chain project Cosmos plans to upgrade its mainnet on January 28
The "Stargate" mainnet upgrade proposal of the cross-chain project Cosmos (ATOM) has been released, and it is planned to launch the Stargate mainnet upgrade on January 28. In addition, IRISnet also plans to start the next round of testnet soon to prepare for simultaneous upgrades.
The synthetic asset agreement Synthetix (SNX) pointed out in the 2021 roadmap released that the priorities for 2021 include migrating to Optimistic Ethereum, developing the Synthetix V3 version, improving the election process of the authorized governance committee Spartan Council, and continuing to decentralize the synthetixDAO , It is expected to provide synthetic futures with at least 10 times leverage, upgrade binary options, expand support for encrypted assets and commodities, and stocks, DApp upgrades, and acquisitions and expansions (similar to Yearn), etc.
On January 15, BSN officially issued a document "BSN 2021 Outlook" outlining its project roadmap. According to this roadmap:
1. BSN plans to cooperate with a number of international banks and technology companies within 5 years to establish a universal digital payment network (UDPN) based on the digital currencies of central banks. Currently, UDPN is in the design stage, and its beta version will be launched in the second half of 2021.
2. BSN will create more public city nodes (PCN) to integrate more frameworks, and will launch at least 3 new cross-chain protocols. Among them, BSN China will have 150 PCNs and 30 portals; BSN International will have about 50 PCNs and will distribute 10 portals in 10 countries/regions. At the same time, BSN will complete the integration of all mainstream global licensing frameworks, and BSN International will complete the integration of 30 public chain frameworks.
3. Promote private BSN and authorized platforms. The private BSN has been deployed in 6 provinces in China, and it aims to cover 23 provinces in China by 2021.
4. BSN will continue to strengthen cooperation with cloud service providers, framework providers and portal providers.
OEC mainnet officially launched
According to OKEx official news, the OEC mainnet was officially launched on January 15th, marking the end of the first phase of the creation of OEC and the official start of the second phase of the mainnet stability test.
Andre Cronje reveals that Yearn.finance is working with the Curve protocol
YFI founder Andre Cronje (AC) tweeted that he may soon cooperate with the Curve protocol. Andre Cronje said in reply to Twitter netizens that some cooperation with the Curve protocol is being completed and will be launched within the next 1-2 weeks. It is not yet clear what the project or product is. In recent months, Yearn.finance (YFI) has been continuously expanding its territory. So far, Yearn.finance has successively merged protocols such as Pickle Finance, Cream Cream, Akropolis, SushiSwap, and Cover Protocol. (CryptoSlate)
Andre Cronje tests the impermanent loss solution on the mainnet, involving the new token SIL
The contract deployment address of the on-chain aggregator Yearn (0x2D407d...47d45C) has deployed a brand new token contract. The token is called Sushiswap V2 IL Protection (abbreviated as SIL). The source code of this contract has not yet been released on Etherscan. Previously, the Yearn team stated in the last content of the official email newsletter that it is testing a solution with impermanent loss protection and unilateral LP. This solution, developed by Andre Cronje, will be integrated into SushiSwap and will help with other exchanges. The AMM protocol makes the distinction. The official stated that the program is in testing and any release is experimental.
Cream Finance introduces asset cap rules
Cream Finance announced the introduction of asset cap rules, becoming the first DeFi lending protocol to implement asset caps. The asset cap limits the amount of any asset that can be offered throughout the CREAM protocol. This helps improve CREAM's overall financial position by limiting the impact of a potential drastic price drop or unlimited minting of any one asset. CREAM users can vote to determine the upper limit of newly listed assets and existing assets on CREAM. The first asset on CREAM to implement asset caps is the newly added ESD.
The Cover Protocol team tweeted that Cover Protocol V2 will be released soon and will bring the following updates:
1. Specific segregation risks in the protocol (eg: each Yearn vault can have its own covToken coverage);
2. Bundle agreement (for example: CurveAaveYearn bundle);
3. Increased liquidity;
4. Dynamic handling fee;
5. Extended coverage to the real world (multiple CVC groups).
Aavegotchi started the process of migrating GHST tokens to Matic Network
According to official news, the Aave ecological NFT game Aavegotchi has started the transition process from the Ethereum mainnet to the Ethereum sidechain expansion solution Matic Network. It plans to migrate the GHST tokens in the mainnet pool to Matic Network. Users can earn MATIC through migration or pledge , QUICK and FRENS, the liquidity incentives will start on January 29th and last for two weeks, 70,000 USD in GHST and MATIC will be distributed pro rata to stakers in the GHST-QUICK staking pool, and another 30,000 USD will be distributed pro rata For users who only pledge GHST. In addition, if participating in on-chain voting before January 18th, 30 days after Aavegotchi is launched on Matic, all claimed Aavegotchi of the owner will have an airdrop of 500XP (250XP per vote).
The Ethereum cross-chain bridge Secret Ethereum Bridge has supported Basis Cash
On January 12, the privacy public chain Secret Network announced that the Ethereum cross-chain bridge Secret Ethereum Bridge now supports the DeFi algorithm stable currency project Basis Cash. Users can participate in staking BAC to create secretBAC and get SCRT rewards.
According to reports yesterday, Secret Network announced that the Secret Bridge mining rewards will be launched on the mainnet on January 12. Users can lock up Secret tokens created using the Secret Ethereum Bridge and get secretSCRT (the private token of SCRT).
YFII developers will delay the launch of the stablecoin YSD
On January 13, DFI Money (YFII) officially tweeted that YFII developer Minako Kawashima has postponed the release of the stablecoin YSD until next week or at the latest the week after that, because she feels that she is not ready yet and hopes to ensure that YSD is released before the release. Be at your best, not in a rush to post.
Privacy project Firo mainnet has activated privacy protocol Lelantus
Security Incident and Follow-up
Security Incident and Follow-up
Venus, a lending platform on the BSC chain, had a sudden "air exchange for big pie" accident
On November 14, a user reported a sudden "air exchange for big cake" accident on the Binance Smart Chain lending platform Venus. A user used the new currency CAN as collateral to borrow 3,444 bitcoins on Venus. It is worth noting that 800 million Can tokens were privately raised. These 800 million tokens cannot be sold within one year, but they can be allowed to conduct other decentralized financial operations other than sales. Therefore, it is inferred that the 1.5 There is a high probability that the 100 million Can tokens will come from private equity parties.
Fortunately, the user returned the borrowed tokens shortly after the incident.
Vulnerability in DeFi Saver smart contract, Dedaub transferred funds safely through white hat attack
Dedaub, a smart contract security company, issued a document stating that the funds of DeFi Saver customers have been safely transferred through a white hat attack. The article stated that after a critical vulnerability was discovered in the smart contract deployed by DeFi Saver, Dedaub took advantage of the vulnerability and contacted the team on January 5. The DeFi Saver team responded immediately, and in less than 20 hours, customer funds were restored to safety through a white hat attack.
The Tor network was attacked, making all v3 onion addresses inaccessible
The Tor network was attacked, rendering all v3 onion addresses inaccessible. darknetdaily issued an article saying that this seems to be a new type of attack that will affect the entire network and cause the consensus authorization node to overload.
Hugbunter, the administrator of the dark web forum Dread, said that all v3 onion addresses are no longer accessible. The cause of the accident is unknown, but it may cause a huge attack on the entire network. Hugbunter speculates that an earlier article he published may have sparked the attack, arguing that competitors in the market should be prevented from launching DDoS attacks on each other.
As of this writing, Tor-enabled Bitcoin nodes have returned to normal.
The synthetic asset issuance platform Synthetix officially issued a document saying that it had previously discovered a bug in the issuance of multi-collateral loans. The error caused some loans that only required partial settlement to be marked as fully settled. The official stated that there is no risk for ordinary loans borrowed from sUSD (both denominated in sUSD) by ETH or renBTC; but loans such as sETH to ETH, or sBTC to renBTC will be at risk; and sUSD shorts will face the greatest risk because They are denominated in sBTC/sETH, and the collateralization ratio of these positions changes with BTC and ETH prices. pDAO has now suspended opening new positions using multi-collateral contracts, and all open positions have been safely closed. The new contract was deployed in the version Castor released last week.
The Sandbox ASSET smart contract has repeated vulnerabilities, and a new contract has been deployed
The sandbox game The Sandbox, a decentralized virtual game platform, said that the Sandbox ASSET smart contract is prone to duplication problems. So far, no malicious user has exploited this vulnerability to attack, and all other smart contracts are not affected. The SAND and LAND smart contracts are also no risk. In addition, The Sandbox has informed all major trading platforms (including OpenSea, Arkane Marketplace, Lootex, Playdapp and iNFT) that trade The Sandbox ASSET on January 13 that these trading platforms have been suspended on January 16, 2021 at UTC 00:01 The transaction of ASSET.
Warp.Finance Platform Reboots, Fixes Flash Loan Vulnerabilities and Shifts to Chainlink Oracles
Investment and financing overview
Investment and financing overview
Sequoia China completes investment in Dragonfly Fund and becomes the latter's strategic partner
Recently, Sequoia China became the strategic partner of Dragonfly Fund and completed the investment in Dragonfly Fund.
It is reported that Dragonfly (Dragonfly Digital Capital) is a venture capital fund focusing on the blockchain industry. Based on VC's long-term value investment strategy, it focuses deeply on blockchain technology research and deploys the global blockchain ecosystem by investing in early projects. Dragonfly has completed the investment layout of nearly a hundred early blockchain projects. (ChinaVenture)
Canadian-listed cryptocurrency mining company Bitfarms announced the completion of a second private placement of CAD 20 million (approximately USD 15.75 million) by institutional investors through the sale of common stock. And a week ago, Bitfarms also completed the first private placement of 20 million Canadian dollars. The offering totaled 5,586,593 common shares, more than 3 million fewer than the initial offering. Bitfarms said the net proceeds will be used primarily to purchase additional mining machines, expand infrastructure and improve working capital conditions. According to Ycharts, Bitfarms currently has a market capitalization of $374 million and has more than 85 million shares outstanding. (Globe Newswire)
Indian crypto exchange CoinSwitch Kuber raises $15 million
Indian cryptocurrency exchange CoinSwitch Kuber raised $15 million in Series A funding. The round was led by Ribbit Capital and Paradigm, with participation from Sequoia Capital India and others. (The Block)
Prometheum, a blockchain-based financial trading platform, completes $15 million in financing
Prometheum, a blockchain-based financial platform for creating and publicly trading encrypted securities, has raised $15 million, bringing Prometheum's total funding to more than $27 million. (PRNewsWire)
Digital Asset Management Company Arca Receives $10 Million in Series A Funding Led by RRE Ventures
Arca, a digital asset management company, announced on Wednesday that it has completed a $10 million Series A round of financing, led by RRE Ventures, with participation from a group of financiers led by Loews Hotels & Co President Alex Tisch and Littlebanc Advisors. The company said in the announcement that it will use the funds to continue prioritizing building infrastructure and making progress on the legal and regulatory groundwork needed to deliver a better product. In the future, James Robinson, founder of RRE Ventures, will join Arca's advisory board and will work on Arca's product development and distribution efforts. (CoinDesk)
According to an exchange filing document released by Fidelity on the 12th, the company has increased its stake in Hong Kong-compliant digital asset company BC Group (BC Technology Group) to 6.29% by investing US$6.71 million. BC Group's institutional-grade cryptocurrency exchange OSL became the first company to receive a license from Hong Kong's securities regulator to provide digital asset brokerage services in December last year.
Digital currency exchange Rain Financial announced the completion of a US$6 million Series A financing, led by Middle East Venture Partners (MEVP), with participation from Coinbase, Vision Ventures, CMT Digital, Abdul Latif Jameel Fintech Ventures and DIFC. According to reports, Rain Financial was established in 2017, and its Bahraini subsidiary, Rain Management WLL, obtained the Type 3 encrypted asset service provider license issued by the Central Bank of Bahrain in 2019, becoming the first licensed encrypted asset platform in the Middle East.
Singapore exchange Zipmex raises $6 million led by Jump Capital
Zipmex, a digital asset exchange in Singapore, has completed a $6 million financing, led by American venture capital firm Jump Capital. The total funding round surpassed the original goal of $4 million. Zipmex has previously completed two financings, including a $1.9 million seed round in January 2019 and a $3 million Series A round in September 2019. To date, the platform has recorded a total transaction volume of more than $650 million since its launch. It is reported that Jump Capital’s investment in Zipmex comes from its latest $200 million fund. It’s worth mentioning that its parent company, Jump Trading, provides support for Robinhood’s crypto trading. Additionally, digital asset platform BitGo and trading charting and analytics platform Trading View are also in Jump Capital’s fintech portfolio. (AMBCrypto)
HashKey Capital Provides $5M Funding to Filestar
Web 3.0 decentralized storage and infrastructure network Filestar has received a $5 million grant from HashKey Capital, which will be used to fund day-to-day operations of the project’s management foundation. The Foundation is a non-profit organization that aims to govern Filestar's network prior to the establishment of a decentralized autonomous organization. Filestar is also preparing to launch a staking program that will enable community members to earn native STAR tokens, vote for miners and participate in future decisions for the project. (CoinDesk)
Blockchain trading platform biceconomy announces $1.5 million in seed funding
Blockchain trading platform biceconomy announced on Monday that it has received $1.5 million in seed financing led by European venture capital group Eden Block. Eight other investors participated in the round, including blockchain-focused venture capital firm Fenbushi Capital and digital asset fund manager DACM. (The Block)
Polkadot’s ecological oracle machine and prediction protocol OptionRoom announced the completion of a $200,000 seed round of financing, led by NGC Ventures, followed by CMS Holdings, Spark Digital, Paka Fund, PNYX Ventures, and NetZero Capital. OptionRoom's goal is to provide community-governed oracle-as-a-service (OaaS). Users can also create and participate in event derivatives, which are linked to real-world outcomes through governance consensus. OptionRoom adopts a dual-token model: ROOM is its functional token, and COURT is the governance token of the protocol.
DeFi Fund M&A Invests $90,000 in DeFi Passive Investment Management Protocol Indexed Finance
DeFi fund M&A announced an investment of $90,000 in Indexed Finance, a decentralized passive investment management protocol. Indexed Finance will use the funds to expand the development team to improve the protocol and front-end pages.
Coinbase Ventures Has Invested in US Crypto Mining Company Titan
The investment institution Coinbase Ventures has invested an undisclosed amount in Titan, an American encryption mining company. Titan announced that the investment will help continue to develop the company's products and increase the efficiency and profitability of bitcoin mining companies. (Cointelegraph)
According to Tianyancha data, Xiaomi Changjiang Industrial Fund recently invested in Beijing Jingshi Intelligent Technology Co., Ltd., a terminal AI chip company, which was spun off from Bitmain’s 2018 terminal chip team. At present, Beijing Bitmain's investment company holds 30.81% of the company's shares and is the largest single shareholder. (Wu said blockchain)
The Ethereum Ecological Project EPNS Receives Investment from YBB Foundation
The Ethereum ecological project EPNS has been invested by the YBB Foundation. EPNS (Ethereum Push Notification Service) is a decentralized notification protocol in the Ethereum ecosystem, which implements standardized communication and allows users (wallet addresses) to receive notifications. Using this protocol, any dApp, service or smart contract can send notifications to users in a platform-independent way (mobile device, tablet, web, user wallet, etc.), and the DeFi protocol ensures that users receive notifications and benefit from them.
