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MarsBit Crypto Daily September 23, 2022
1. Today's news
The Russian authorities reached a consensus on cross-border settlement of cryptocurrencies, and will allow Russian citizens to use crypto wallets
Russian Deputy Minister of Finance Alexei Moiseev announced that Russian Central Bank (CBR) and the Ministry of Finance (Minfin) reached a consensus on cross-border settlement of cryptocurrencies. The proposed bill allows Russian nationals to use digital wallet , and crypto wallets must be opened in entities regulated by central bank in Russia, which must comply with anti-money laundering requirements and must first conduct KYC.
Wintermute warns hackers to return the stolen assets before the specified date through on-chain messages, otherwise they will face legal lawsuits
cryptocurrency market maker Wintermute sent a message to the hacker through the Ethereum blockchain, saying that they hope that the hacker will accept the bounty clause. If the funds are returned before September 23, Beijing time, this incident can still be regarded as a white hat incident, and the hacker can receive a 10% bounty. Otherwise, Wintermute will contact the authorities through appropriate channels for corresponding treatment. Previous reports that Wintermute lost $160 million in the DeFi hacking attack on September 20.
Coinbase: Do not operate self-operated trading business, purchase cryptocurrency for company operations, etc.
Regarding the report of Wall Street Journal , Coinbase responded that Coinbase does not operate self-operated trading business or acts as a market maker. The Institutional Prime platform is an agent transaction model that only acts on behalf of customers. Publicly purchased cryptocurrency is only used for corporate financial and operational purposes. Coinbase said it does not consider it a proprietary transaction because it is not intended to allow Coinbase to benefit from the short-term value growth of the cryptocurrency being traded.
Azuki Ethereum on-chain transaction volume exceeded 30,000 ETH
NFT project Azuki Ethereum on-chain transaction volume exceeded 30,000 ETH, and at the time of writing this article, it reached 30,407,000 ETH, which is approximately US$810,880 million. In addition, the current Azuki floor price fell to 11.15 ETH for a short time, with a 24-hour decline of about 5.11%. Previous news, Azuki development team Chiru Labs will raise $30 million in a Series A financing valuation of $300 million to $400 million, and the financing details have not yet been finalized.
Aptos Eco Wallet MArtian released a new version, upgraded the Gas model and increased the airdrop to 1APTh
Aptos Eco Wallet Martian released a version 0.2.3. The upgrades include: updating the Gas model to follow the new Gas model of Aptos; increasing the airdrop to 1APT on devnet; fixing the NFT cache issue, etc.
Ethereum Coin Mixed Protocol Tornado Cash returns to the GitHub platform
Ethereum Coin Mixed Protocol Tornado Cash is now back to the code open source website GitHub platform. Previously, the U.S. Treasury Department's Office of Foreign Assets Control (OFAC) blacklisted Tornado Cash last month.
2. Selected articles
Establish a bear market investment thinking model - prepare for the next bull market
I analyzed more than a dozen of the most common mistakes made by many investors and based on this, I established a set of thinking model . You can apply it to your investment strategy to help you cope with the next long bear market and be prepared to welcome the bull market. Here you can find detailed information about each thinking model. And, I will give you a high-level summary.
Bitcoin 2022 third quarter report: old narratives were broken, new narratives were budding
In the third quarter, after BTC fell 72% from its highest point, it basically lost the inflation hedge against and value store narrative. As demand for block space declined, the number of BTC transactions and transaction fees fell by 3% and 23%, respectively, and the average daily settlement value fell by 44% month-on-month. With the sharp rise in energy prices, the hash rate hitting record highs, coupled with the price drop and the reduction in transaction fees, the miners find themselves in an increasingly difficult situation.
intends to develop its own application chain? ——In-depth analysis of risks and opportunities for application chains
In the past year, some highly anticipated applications have launched their own application-specific chains or announced plans to do so in the future. For many high-growth projects, this application chain direction is predictable, and every popular Web 3 application will eventually have its own blockchain. This trend has led some founders to think the right thing to do is to build their products into application chains from the very beginning. We believe this approach may work for some applications, while other applications build application chains through early investments is tantamount to self-destruction.
Bloodsucking, Migration and Capital Bureau, behind the Move Public Chain Fire
In July this year, Aptos announced a total of US$350 million in financing this year; another Move Gemini Public Chain Sui also announced a Series B financing of US$300 million. At this time, everyone began to discover that not only the investor matrix of Aptos and Sui are basically Solana's investors, but even the project parties, developers, and even some employees also have a high overlap. Regarding the popular Move public chain Sui and Aptos, this article interviewed more than 20 Chinese and American venture capital institutions, project parties and developers to explore the stories behind it.
Nansen: Solana's second quarter report for this year
In this quarterly report, we will examine Solana's performance in the second quarter of 2022 and list the major developments Solana has made to improve overall network performance and user experience.
Detailed explanation Celestia "brother" Fuel: What is the difference between modular execution layer and L2? After
Fuel became Celestia, another protocol that emphasized the concept of modular blockchain. In fact, Fuel and Celestia can be said to be "brothers". The two projects have the same co-founder, John Adler, who is also one of the earliest proposers of the Optimistic Rollup plan.
Briefly talk about privacy in Layer2's current situation and future
It can be said that the openness and transparency on the chain are the double-edged swords for all users. On the one hand, the ownership of data is in the hands of users, and on the other hand, your every move may be monitored by others, completely losing your personal privacy. It is undeniable that with the increasing frequency of security issues in the current DeFi application due to lack of privacy, how to protect one's trading strategy from being known to others in on-chain transactions has become one of the most concerned issues for DeFi developers and users. The article
interprets the working principles of each cross-chain bridge and its security considerations
cross-chain bridges are distinguished by two types: transmission type and trust hypothesis type. Let's start by dividing the transmission type. Cross-chain aggregation protocol Lifi determines three main types of cross-chain bridges based on the transmission type. Because the dividing line is a bit blurry, it can actually be divided into five types.
15,000-word report teaches you how to fight blockchain fraud
According to security data, the recorded losses in the encryption field caused by fraud and security vulnerabilities this year have been recorded. Every participant in the blockchain industry is tantamount to being in the "Greater West" and is always at risk of privacy and property losses. Although some of the industry has already analyzed blockchain fraud and security vulnerabilities, most of them are only targeting certain cases, or the discussion of the mechanism behind them is not in-depth enough. Therefore, we are pleased to bring you this 10,000-word article written by two experts in the field of cybersecurity, which will provide you with a comprehensive and in-depth analysis of almost all current security risks and provide response strategies.
Metaverse Politics - Digital Totalitarian or Digital Federation
A digital dystopia may be coming soon. It's not necessarily a welcome thing-but today I just wanted to talk about a series of interesting ideas about the concept that came to my mind last weekend. As the Internet shifts from Web2 to Web3, the concept of the metaverse becomes increasingly prominent, and my mind is taken to a more profound and hidden place. Our society’s concept of reality is slowly changing. In order to achieve automation, improve efficiency and improve quality of life in general, most people in society prioritize digitizing our physical reality.
3. Project interpretation
ENS Business script: How did the domain name Degens get rich?
In recent months, ENS domain names have continued to heat up. According to Nansen data and ENS.Vision, the profit methods (filtered and cleaned transactions) of the top 8 major addresses that have achieved profits in ENS domain names (filtered and cleaned transactions), as well as the domain name categories held and other NFT series data. Analysis found that some addresses can achieve huge profits by relying on just one or two domain names; some addresses can register digital domain names in early stages and make profits at prices hundreds of times higher than the registration price in the near future; a few addresses can make profits by flipping prices in the secondary market; some addresses can also register potential domain names by monitoring expired domain names. Brief description of
EIP-4844: The essence is Ethereum expansion solution
I wonder if anyone is interested in EIP-4844. I think its implementation will have an important impact on StarkNet. I described in Chinese what EIP-4844 is. I hope friends in China can understand it, and we welcome corrections and discussions.
Crescent: Manage your own asset portfolio in a multi-chain world
Crescent is a sovereign chain built using the COSMOS SDK. It enables IBC communication and can communicate with other chains in the COSMOS ecosystem. In the COSMOS ecosystem, when understanding a project, you are often learning about a chain, not just a protocol. So the perspective and Ethereum project will be slightly different.
Bankless: In one article, we understand 4 DeFi fixed interest rate solutions.
The crypto market is very unstable, and fixed interest rate returns are not common. This is a huge problem for creditors and debtors who want to match fixed-rate liabilities with fixed-rate assets. TradFi entities in particular need to obtain convenient fixed interest rate solutions for proper asset and liability management . The ability to mitigate risks associated with specific investments is critical to every category of financial institutions – banks, pension funds, insurance companies and hedge funds – and is often accomplished through derivatives, which provide a highly capital-efficient solution for risk management and often receive preferential accounting and disclosure processing relative to balance sheet restructuring activities.
Quick review of 101 Y Combinator incubated crypto projects
Some of the most famous crypto/blockchain projects graduated from Y Combinator, including NFT trading market OpenSea, portfolio tracking and accounting software CoinTracker, and Bitcoin smart contract layer Stacks, etc. Almost half of the Y Combinator crypto alumni programs fall into the financial services or infrastructure category, with Web3 and NFT/games following behind. In total, 101 Y Combinator Crypto Alumni Programs in 8 categories were analyzed and counted.
article understands 15 new projects that have not yet issued tokens
This article will introduce 15 new projects that have not issued tokens, some are L1, some are based on $ZKS, some are based on $STARK, and $OP-based projects.
4. Investment and financing
crypto robot trading platform 3Commas completed a US$37 million Series B financing, and Target Global and Alameda Research led the investment in
crypto robot trading platform 3Commas completed a US$37 million Series B financing, led by Target Global, Alameda Research, Jump Capital and Dmitry Tokarev, founder and CEO of crypto custody company Copper. This round of financing will be used to advance robotics, expand the trading ecosystem and enhance developer tools, and create applications for the 3Commas ecosystem. 3Commas is a product ecosystem that provides trading tools and automated strategies managed by machine learning-powered trading robots that use historical data to help investors leverage different crypto trading strategies.
Web3 vulnerability bounty platform Immunefi received a US$24 million Series A financing, and Framework Ventures led the investment in
Web3 vulnerability bounty platform Immunefi completed a US$24 million Series A financing, led by Framework Ventures, and Electric Capital, Polygon Ventures, Samsung Next, North Island Ventures, Third Prime Ventures and Lattice Capital participated in the investment.Immunefi has provided vulnerable bounty programs for crypto projects including Chainlink, MakerDAO and Compound, and earned 10% commissions from bounty expenses.
TGV once again invested $21 million in chain game company Animoca Brands
True Global Ventures (TGV) again invested $21 million in blockchain gaming company Animoca Brands, the investment is also the venture capital's largest single investment in a single company so far. In early September, Animoca Brands completed a $110 million financing, and TGV also participated in the round and invested about $17 million in the form of convertible bond . Hyperlane, a cross-chain application construction platform for
, completed a US$18.5 million financing, and Crypto Investor Variant led the investment in
, a cross-chain application construction platform for
. Hyperlane announced a US$18.5 million financing, led by Crypto Investor Variant, and participated in the investment in Galaxy Digital, CoinFund, Circle, Figment, Blockdaemon, Kraken Ventures and NFX. This round of financing will be used for recruitment, product development and security, including vulnerability bounties and additional audits. The Hyperlane platform is designed to provide developers with messaging APIs and SDKs to easily build applications accessible from any blockchain.
Encryption Network Lit Protocol completed a US$13 million Series A financing, and 1kx led the investment in
Web3 Encryption Network Lit Protocol completed a US$13 million Series A financing, and 1kx led the investment. This round of financing will be used to expand the development team to establish distributed ownership and cross-protocol interoperability. Lit aims to enable users to achieve greater security and autonomy over their data and digital assets by providing users with private keys that can interoperate in Ethereum Virtual Machines (EVMs), DeFi, DAOs, and NFTs.
Web3 record company Hume announced that it had completed a US$11.7 million Series A financing, TCG Crypto led the investment in
Web3 record company Hume announced that it had completed a US$11.7 million Series A financing, TCG Crypto led the investment, and Collab+Currency, Gemini Frontier Fund, Winklevoss Capital, gmoney.eth, Flamingo DAO, Noise DAO, The LAO, Distributed Global, Coopahtroopa and others participated in the investment. In the past eight months, Hume's first metastar angelbaby has completed performances at Art Basel, Fluf Haus LA and SXSW.
digital art platform developer Huanbo completed angel round financing of tens of millions of yuan
Hainan Derivative Technology Co., Ltd. "Huanbo" completed angel round financing of tens of millions of yuan, led by well-known institutions. On the one hand, this financing will continue to be used for the maintenance of digital art platforms and the innovation development and research of platforms; on the other hand, it will actively promote the commercialization of digital art products, accelerate the development of the industry, and meet the needs of tens of millions of users for digital art. "Fantasy Box" is a digital art platform developer. The company focuses on the technology research and development of the domestic digital art market. Its business covers the development of digital art products, traffic output, and meta-universe scene construction. It combines the innovation of virtual objects and offline markets, and is committed to becoming the first digital art company in China. Skip, a
MEV infrastructure provider, completed a $6.5 million seed round, Bain Capital Crypto led the investment in
Cosmos MEV infrastructure provider, Skip, a MEV infrastructure provider on
Cosmos, completed a $6.5 million seed round, led by Bain Capital Crypto, and participated in the investment. Founded in 2022 by Barry Plunkett and Maghnus Mareneck, Skip Protocol aims to build on-chain and off-chain MEV infrastructure that helps users, stakeholders and validators share MEV benefits, enabling searchers to execute more complex and profitable strategies.
Bitcoin mining liquidity DeFi protocol Block Green completed a $3.7 million financing, Peter Thiel's Founders Fund led the investment in
Bitcoin mining liquidity DeFi protocol Block Green completed a $3.7 million seed round financing, Peter Thiel's Founders Fund led the investment, and Coinbase Ventures, Blizzard and Dao5 participated. The company will use the funds to further develop the agreement and build its team. Block Green allows Bitcoin miners to lend on hash power as collateral, and Bitcoin holders can lend assets and earn profits from Bitcoin produced by these miners.
Editor in charge: Felix
