Star Project Weekly | Algorithmic Stablecoin Fei Protocol Creation Launched; Cosmos Opens Cross-Chain Function IBC (3.29-4.5)
During the week from March 29th to April 5th, the events worthy of attention in the progress of star projects include: Fei Protocol’s genesis has ended, a total of 639,000 ETHs have been raised and 1.3 billion FEIs have been minted; the Cosmos cross-chain function IBC has been officially launched ; Findora mainnet officially launched; Ethereum expansion solution agency StarkWare launched AMM Caspian driven by Layer 2; Aave announced the launch of a Layer 2 version based on Polygon.
public chain
public chain
Gavin Wood: The Kusama parachain may go online within a few days
On April 1, 2021, at the "Polkadot & Friends" Beijing session (NFT session), Polkadot founder Gavin Wood said that the Kusama parachain may go live within a few days.
Cosmos cross-chain function IBC has been officially launched
Cosmos announced that it has officially opened the IBC cross-chain communication function. Any IBC-compatible chain can send its tokens to the Cosmos Hub, and the Hub’s native token ATOM can also be transferred to other chains. IBC can handle smart contracts between multiple chains, realize the transfer of data and messages between contracts, and its logic can be distributed in different blockchains. The Cosmos team believes that IBC solves the scalability problem of blockchains through sharding. Split blockchain applications into multiple blockchains.
Cardano block production is fully controlled by the community
At 21:44:51 UTC time (5:44:51 on April 1, Beijing time), the core node of Input Output Global, the development company behind Cardano, has been permanently shut down, allowing the network to be fully decentralized. Cardano's block production is now fully controlled by the community. IOHK product director Aparna Jue called it an important milestone in the development of Cardano, as it is the first component in the process of handing over control to the community, a process that will continue for the rest of the year. (U. Today)
Litecoin MimbleWimble privacy protocol is currently estimated to be activated in Q4 2021
MWEB developer David said that on March 15th, he submitted the Litecoin MimbleWimble privacy protocol code review for the first time. Libmw alone has more than 15k lines of code, so the workload is very huge. David said that while he was confident that MWEB would not be subject to any major attacks, the recent attack on Grin made him uneasy. As such, David will no longer commit to exact deadlines, but will provide estimated dates, which are subject to change at any time. Looking at the MWEB roadmap, the Litecoin MimbleWimble privacy protocol is currently estimated to be activated in Q4 of 2021.
Findora mainnet officially launched
According to official news, with dozens of partners and a community with active users ready, Findora has released a public chain that can redefine the blockchain industry on March 30 (PST Pacific Time Zone). In Mainnet Beta, users will be able to create wallets, send tokens encrypted while hiding the amount or type of asset being sent on the platform, as well as create, issue, send and receive custom assets.
KIRA public test network launched
DeFi and related infrastructure
DeFi and related infrastructure
The decentralized stablecoin project Fei Protocol has now completed its genesis launch. A total of 639,000 Ethereum were raised, 1.3 billion FEI were minted, and a total of 17,000 unique addresses participated. These addresses will receive a corresponding number of stablecoin FEI and TRIBE tokens. Coin airdrop. The data shows that the current PCV of Fei Protocol (total control value of protocol ETH) is 1.257 billion US dollars. According to Fei Protocol, the pre-conversion of 385 million FEI to TRIBE may mark the largest AMM swap transaction ever.
SushiSwap releases Q2 roadmap and will launch AMM v2 in May
According to official news, SushiSwap released the Q2 roadmap. It is expected to launch limit orders and Kashi v2 in April, and AMM v2 and Onsen v2 in May.
Decentralized stablecoin system Venus Protocol is about to launch v2
According to official news, Venus Protocol, a decentralized stablecoin system based on Binance Smart Chain, said that v2 will be launched soon. The upgrade deploys a proposal that includes: repurchasing and burning XVS from SwipeSwap using Venus market fees, VAI liquidation and minting fees, and distributing the Venus reward token VRT to vXVS holders.
The Graph mainnet completed its first upgrade and deployed the GIP0002 proposal
According to official news, yesterday, the Web 3.0 analysis and query platform The Graph mainnet completed its first upgrade, and deployed the GIP0002 proposal on the mainnet through decentralized governance.
secondary title
Layer2
StarkWare, the Ethereum scaling solution agency, launches Layer 2-driven AMM Caspian
On April 4, StarkWare, an Ethereum scaling solution organization, launched AMM Caspian driven by Layer 2. StarkWare said that when considering DeFi's Layer 2 solutions, capital efficiency is the key point, and StarkWare believes that liquidity will be dispersed between Layer 1 and multiple Layer 2 solutions, so StarkWare proposed a new Layer 2-driven AMM design, The AMM can keep assets in Layer 1, thereby fragmenting liquidity and improving capital efficiency. StarkEx 3.0, which is expected to be launched in June 2021, will support Caspian.
Aave Announces the Launch of Layer 2 Version Based on Polygon
Aave announced the launch of the Layer 2 version based on the Polygon sidechain (formerly MATIC). After launch, Aave will provide asset lending services of MATIC, USDC, USDT, DAI, WETH, AAVE, and WBTC based on Polygon.
Synthetix already supports staking with Optimistic
Synthetix announced that its Staking DApp is compatible with Optimistic Ethereum (OΞ), the second-layer scaling solution of Ethereum, which means that stakers can now stake on L2 Mintr. Since only Metamask supports the Optimistic Ethereum network, only the Metamask wallet is currently supported.
NFT trading platform OpenSea will integrate the second-tier expansion solution Immutable X
The NFT trading platform OpenSea announced that it will integrate the second-tier expansion solution Immutable X, and users will not need to pay Gas fees for transactions on OpenSea.
In addition, according to data from Dune Analytics, the total transaction volume of OpenSea in March reached 147 million US dollars, and the number of users exceeded 88,000. On March 31, the single-day transaction volume reached 11.3592 million US dollars, both hitting record highs.
NFT
Luxury companies like Gucci to release NFTs
News Gucci (Gucci) recently confirmed that the release of NFT is only a matter of time. Additionally, VogueBusiness has confirmed to multiple industry sources that many luxury fashion houses are about to release NFTs. (Vogue Business)
Justin Sun, founder of TRON and CEO of BitTorrent, sent an open letter to the community regarding the official establishment of the JUST NFT Fund. Become the ARK Star Fund in the NFT field. The JUST NFT Fund will build a bridge between global artists and the blockchain, and support the growth of native NFT artists in the encrypted world. After the establishment of the JUST NFT Fund, it will only focus on top artists and artworks. The unit price of artworks collected by the JUST NFT Fund is not less than 1 million US dollars, and the median price is around 10 million US dollars. The JUST NFT Fund firmly believes that the value of the art field comes from the head effect. Only the top artists of the pyramid have the value beyond time. .”
On April 1, the JUST NFT fund founded by Justin Sun bought Picasso's masterpiece "Reclining Nude Wearing a Necklace" for US$20 million at Christie's auction in London. At the same time, the JUST NFT fund also auctioned "Three Self-Portraits" by American artist Andy Warhol at a price of US$2 million.
The Chinese art auction company Yongle Auction plans to plan a special session or topic of encrypted art works in the spring auction of 2021. They are very experienced, and we have been in contact for more than 6 years. It is very clear that they have enough wealth when they are young, and more importantly, they also have the willingness to collect and are used to trading and collecting with virtual currency.” (Artron Art Network)
NFT trading market OpenSeaWill integrate Korean public chain platform Klaytn
Klaytn, a global public chain platform owned by Ground X, a subsidiary of South Korean Internet giant Kakao, will integrate NFT trading market OpenSea. The integration with OpenSea will enable support for Klaytn-based NFTs, ranging from game items and characters to digital art, with peer-to-peer (P2P) trading by the end of June. Users can link their OpenSea account with the Kaikas wallet, and can also buy and sell NFTs with Klaytn’s token, KLAY.
First NFT virtual house on Mars sold for over $500,000
The first virtual house on Mars recently sold for 288 ETH (over $500,000) on crypto art platform SuperRare. It is reported that this virtual house called "Mars House" (Mars House) was designed by Kirsten Kim in May 2020. The house and all its jewel-like furniture are made of translucent steel. Made of glass, it is the world's first digital NFT house. (Techweb)
Two Coinbase employees exchange a pair of NFT rings during a wedding ceremony
security incident
security incident
DeFi quantitative hedge fund Force DAO was attacked
The DeFi quantitative hedge fund Force DAO was suspected of being attacked. Netizens said that a large number of tokens were issued and reminded users who did not receive the airdrop not to waste fees. However, subsequently, the Force DAO hacker returned the "dirty money" and claimed to be a white hat.
Afterwards, Force DAO posted a blog stating that it was responsible for the previous attack and had implemented procedures to ensure that any such incidents were mitigated in the future. A total of 183 ETH (approximately $367,000) worth of FORCE tokens were drained and liquidated in the attack. Force DAO says there will be snapshots and new tokens. Force DAO has begun internal restructuring and will announce a plan in the coming days to compensate affected FORCE holders and LPs.
Slow Mist: Polkatrain's wool accident problem lies in the POLT_LBP contract rebate mechanism
On April 5th, the security company SlowMist stated that an accident occurred this morning on Polkatrain, the Polkadot ecological IDO platform.
The contract with the problem this time is the POLT_LBP contract of the Polkatrain project. This contract has a swap function and a rebate mechanism. When users purchase PLOT tokens through the swap function, they get a certain amount of rebate. It is forwarded to the user in the form of calling transferFrom through the _update function in the contract. Since the _update function does not set the maximum amount of rebates for a pool, and does not judge whether the total rebates are used up when rebates are made, malicious arbitrageurs can continuously call the swap function to exchange tokens to extract the value of the contract Rebate rewards.
