KuCoin was stolen nearly 150 million US dollars; Hufu launched platform currency and started mining | Weekly (www.blockcast.cc)

2020.9.28 Issue 37

Keywords of this issue:

NEAR enters the restricted phase of the mainnet, Hufu launches the platform currency, Synthetix launches the Layer2 testnet, Tokenlon launches the platform LON, KuCoin is stolen nearly 150 million U.S. dollars, the DeFi+Layer2 trend has become established, how to play Gamefi, Stafi Wanchain is all DeFi, Flamingo has twists and turns, Uniswap V3.

1. NEAR Protocol has lifted the pledge of all verification nodes and will transition to the mainnet restricted phase on September 24

On September 24, Bowen Wang, a research engineer at the open network platform NEAR Protocol (NEAR), tweeted, “The NEAR Foundation has lifted the pledge of all verification nodes. NEAR Protocol will soon be fully decentralized.” NEAR Protocol previously announced that it would Transitioned from the PoA phase of the mainnet to phase one (the restricted phase of the mainnet) on September 24.

2. Hufu launches platform currency HOO and conducts airdrop and non-destructive mining activities

On September 24, the cryptocurrency exchange Hufu launched the platform currency HOO and announced the airdrop mining rules. The total amount of Hufu platform currency HOO is 1 billion, and the first phase plans to release a total of 100 million of it through HooPool mining and airdrops. Hufu said that HooPool is a liquid mining pool based on HooSwap. Its lossless mining will be officially launched at 17:00 on September 25. The first batch supports BTC, ETH, EOS and USDT. In addition, Hufu users will receive an airdrop of 10 million HOO platform coins based on the VIP level snapshot.

3. Synthetix launches the Optimistic testnet for the second-tier expansion plan of Ethereum

On September 25th, Synthetix launched the Optimistic testnet for the second-tier expansion plan of Ethereum, which means that users can conduct fast transactions on the second-tier network. The test function will be conducted for pledgers with 1 to 2500 SNX, and synthetixDAO will provide 50,000 SNX every week as a betting reward for participating in the testnet, and the reward will last for a total of 4 weeks.

4. DEX Tokenlon incubated by imToken releases LON tokens and user incentive plans

On September 25th, DEX Tokenlon, incubated by imToken, released LON tokens and a user incentive plan, and allocated 65% of the total LON tokens to the community. The total issuance of LON is capped at 200 million pieces, of which 65% will be distributed to the community through the LON Network Incentive Plan (LIP), and the remaining 35% will be distributed to the core team, stakeholders and development reserves.

5. Aave launches the first governance proposal for the Aave Governance mainnet, which will determine the migration process from LEND to AAVE

On September 26, the decentralized lending protocol Aave (LEND) launched the first governance proposal AIP1 on the Aave Governance mainnet. The proposal will determine the migration process from LEND tokens to AAVE new tokens, which will make it Aave’s new governance token. The specific content is that Aave’s native token LEND will be migrated (consolidated) to the new token AAVE at a ratio of 100:1. The total supply of Aave is 16 million, of which 13 million will be allocated to LEND holders in the above ratio , The additional 3 million will be allocated to the Aave Ecosystem Reserve.

6. Statistics: KuCoin stolen funds have been frozen or recovered about 130 million US dollars

On September 28, according to Decrypt statistics, the stolen funds on the KuCoin Exchange have been frozen or recovered about 130 million U.S. dollars, accounting for 65% of the total disclosed stolen amount (203 million U.S. dollars). Chain Wen previously reported that in the early morning of September 26, KuCoin redeployed hot wallets after detecting large withdrawals from multiple hot wallets. KuCoin stated that the total amount involved in the KuCoin platform accounted for a relatively low proportion of the total funds held on the KuCoin platform, and the assets in the KuCoin cold wallet were not affected. KuCoin stated that if any users suffer losses in this incident, they will be fully borne by KuCoin and its insurance fund.

DeFi players such as Uniswap, Aave, Synthetix, etc. spontaneously began to explore the feasibility of Layer2 + DeFi. For DeFi applications, there are not many old DeFi players who have options, and naturally prefer the Layer 2 solution. So what is the Layer2 second layer solution? What are the Layer 2 plans to choose from? Let’s take a look at which Layer 2 solutions the top DeFi projects have chosen.

While “DeFi Lego” is booming around financial attributes such as transactions, the trend of combining DeFi and NFT has quietly taken root. Whether it is Gamefi mentioned by Andre Cronje or NFTfi proposed by Coopahtroopa, the founder of the cryptocurrency weekly Tokentuesdays, in the final analysis, they all tell the story of the integration of NFT and DeFi. And this article will focus on the core question of “What value can gamification bring?”, using three potential projects that are born with Gamefi or NFTfi temperament as samples to explore the true nature of this new concept.

Staking improves the security of the public chain, but also locks in liquidity. Too many locked shares will result in a lack of liquidity. DeFi needs liquidity very much, and the rate of return is not low. As a rational person, when the DeFi rate of return is higher than Staking, you should give up Staking and participate in DeFi. Therefore, the opinion that DeFi will erode the security of the public chain is widely spread. How to solve this problem? Most of the solutions on the market are for a certain Token or a certain ecology. Today we are talking about a project that provides solutions for all PoS public chains—Stafi.

This article is not about how Uniswap or AMM’s automatic market maker system constructs a “paradigm shift” of Swap. There are enough articles in this area, and you can find a bunch of them if you are interested in searching. This article is about Uniswap’s next development and what improvements his imitators are implementing on him.

1. Flamingo finally started with twists and turns

Flamingo, a new DeFi ecological project incubated by the Neo global development team, was launched at the end of August. Flamingo (flamingo.finance) is a Neo-based comprehensive full-stack DeFi protocol that integrates asset cross-chain, AMM, synthetic stable currency, contract transactions and pledge rewards , Will support mainstream assets such as BTC, ETH and stable coins in the initial stage. The project token FLAM follows 100% contribution-based distribution, no private equity, no pre-mining, and no team distribution.

Binance announced its support for Flamingo mining before the start of mining, and stated that it will simultaneously list its tokens, which has not been seen in any mining project. Although Flamingo is not officially launched, it is already very popular. However, after the launch, due to the large number of participants, the front-end wallet NeoLine server was overloaded and could not connect to Flamingo, resulting in the suspension of mining. After hard work, Flamingo resumed at 9 pm on September 26 and began to release FLM in accordance with established rules. As of the data at that time, the amount of locked assets exceeded 1.2 billion US dollars. At present, the Flamingo token has been listed on exchanges such as Binance and Matcha, and mining is proceeding in an orderly manner.

2. Synthetix launches Layer2 testnet

Synthetix is ​​a well-known synthetic asset platform on Ethereum. Due to the overcrowding of Ethereum, Synthetix announced the launch of the Optimistic testnet for the second-tier expansion plan of Ethereum on September 25. This means that users can conduct fast transactions on the second-tier network. The test function will be conducted for pledgers with 1 to 2500 SNX. SynthetixDAO will provide 50,000 SNX every week as a reward for participating in the testnet. The reward will last for a total of 4 weeks.

And on the 27th, Synthetix announced again that it will deploy an upgrade called “Deneb” on September 29, which includes improvements such as reducing gas costs. Synthetix is ​​the first platform in the DeFi head project that officially opened the Layer 2 testnet. Other DeFi platforms are also following up. This is an inevitable choice in the face of Ethereum congestion. The launch of Layer 2 on the top platforms has a profound impact on the industry, especially for the composability of DeFi. This is a possible challenge. We will wait and see how it will develop.

1. APY.Finance, a liquidity mining aggregator, completed a $3.6 million seed round of financing, and Arrington XRP Capital participated in the investment

On September 22, APY.Finance, an intelligent liquidity mining aggregator, announced that it has completed a $3.6 million seed round of financing. Investment institutions include Arrington XRP Capital, Alameda Research, Cluster Capital, and CoinGecko.

APY.Finance is a DeFi smart liquidity mining aggregator that can automatically allocate user funds to the liquidity mining strategy with the highest revenue. The goal is to democratize liquidity mining. The project said that this round of financing will be used to develop the platform, perform audits and conduct insurance. APY.Finance also stated that it plans to fully launch the platform in mid-October.

2. The DeFi consensus layer finance.vote completed $1.38 million in seed round financing and private equity financing

On September 22, the DeFi consensus layer finance.vote (FIN) announced that it has completed a private equity financing of US$960,000 after completing a seed round of 420,000 US dollars. Private equity investors include Ascensive Asset Management, A195 Capital, Origin Capital, BTC12 and Bitcoin.com.

Finance.vote is developing a consensus layer for DeFi, which will be used as the next generation of voting technology and encrypted economic games. There are three important elements, including voting market rewards, governance systems, and trustless social trading systems.

3. Dune Analytics, an encrypted data analysis platform, completed a seed round financing of US$2 million, led by Dragonfly Capital

On September 23, it was reported that Dune Analytics, an encrypted asset data analysis platform, completed a US$2 million seed round led by the blockchain investment fund Dragonfly Capital. Other investors include venture capital institutions Multicoin Capital, Hashed, Semantic Ventures, and the crypto industry The company Digital Currency Group, Coinbase Ventures, Alameda Research, CoinGecko and many angel investors including Aave founder Stani Kulechov.

4. PureStake, a blockchain startup company, has completed a seed round of funding of 1.4 million US dollars and plans to use it for the development of the Polkadot ecological project Moonbeam Network

On September 23, the blockchain startup PureStake completed a $1.4 million seed round of funding. This round of financing was led by venture capital fund Hypersphere Ventures, with participation from Arrington XRP Capital, HashKey, KR1, Bitcoin.com Exchange, and Du Capital. The funds will be used for the development of Moonbeam Network, a smart contract platform.

Moonbeam Network provides a smart contract platform compatible with Ethereum, making it easy to build native interoperable applications. Moonbeam is based on the Substrate framework and plans to become a Polkadot parachain.

5. DeFi loan agreement Liquity completes USD 2.4 million in seed round financing, led by Polychain Capital

On September 25, Liquity announced the completion of a $2.4 million seed round led by Polychain Capital. Participants include a_capital, Lemniscap and 1kx. This round of financing will be used to support the further development of the agreement and the team Extension.

Liquity was founded by Robert Lauko, a former Dfinity blockchain researcher. It solves many of Maker’s problems, including the realization of automated instant clearing, automatic anchoring of target prices without manual governance, and the ability to greatly reduce the mortgage rate, which can effectively solve the problem of open finance. The problem of low capital utilization. Specifically, Liquity can mortgage the Ethereum minted stablecoin LQTY, while the liquidation mortgage rate is only 110%, which is much lower than the 150% liquidation mortgage rate of the Maker agreement.

“BLOCKER WEEKLY” is a cutting-edge reading in the blockchain industry carefully created by the Blockchain Research Institute, which selects a week of hot topics and cutting-edge opinions for blockchain enthusiasts. If you have good comments and suggestions, please leave a message in the comments below.

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