Star Project Weekly | DOGE Top 10 "One-Day Tours" by market capitalization; dYdX completes $10 million in Series B financing (1.25-1.31)
In the week of January 25-January 31, the events worthy of attention in the progress of star projects include: the buying sentiment of retail investors boosted DOGE's top ten "one-day tour" in market value; Polkadot is building the Substrate bridging protocol BEEFY, which currently mainly supports ETH mainnet; The Graph will integrate Bitcoin, Polkadot and NEAR blockchains; TRON is suspected to conduct parachain auctions.
Star Project Progress
The following are specific project progress and financing events:
Star Project Progress
The buying sentiment of retail investors boosts the top ten "one-day tour" of DOGE's market value
The drama of "retail investors vs institutions" in the U.S. stock market spread to the currency circle. On the evening of January 28, Dogecoin (DOGE) began to skyrocket under the boost of the buying sentiment of retail investors. On January 29, it once soared to 0.086 USDT. Before the launch, the increase was more than 10 times, and the market value reached the top ten of the total market value of cryptocurrencies. However, the price of DOGE fell back quite quickly after the surge. As of 2:00 on February 1, the price of DOGE had dropped to 0.032 USDT.
Since then, TRX and XRP have also experienced "abnormal" market driven by public opinion on social media, and both have experienced sharp rises of dozens of points in the short term.
Bill Laboon, director of technical education at the Web3 Foundation, tweeted to announce the progress of the Polkadot project, saying that the BEEFY protocol is currently under construction. The BEEFY agreement is an auxiliary agreement based on the GRANDPA finality agreement. This protocol allows the Substrate chain to use the GRANDPA finality protocol to bridge non-Substrate chains (currently mainly supports the ETH main network).
Cosmos mainnet upgrade plan postponed to February 18
On January 24, Cosmos tweeted that in order to ensure the success of the Stargate mainnet upgrade, the team suggested that the Cosmos Hub upgrade plan be postponed to February 18. According to previous reports, Cosmos originally planned to upgrade the main network on January 28 and integrate the cross-chain IBC module.
Ripple responds to US SEC lawsuit: XRP is not under SEC jurisdiction
Ripple issued an announcement on Friday to make a preliminary response to the lawsuit filed by the US SEC, which is summarized as follows:
1. XRP is a virtual currency, so it is not under the jurisdiction of the SEC.
2. Ripple has never entered into an investment contract with any holder of XRP.
3. Ripple never conducted an ICO, never offered future tokens to raise funds, and has no relationship with the vast majority of XRP holders.
4. Holding XRP does not mean that one can receive part of XRP income or profits.
5. Ripple’s XRP sales are far less than 1% of the huge XRP market that has grown over the past 8 years.
6. XRP Ledger is completely decentralized, and the US SEC ignores the economic reality of XRP transactions.
7. The XRP held by Ripple does not create an investment contract like the diamonds held by DeBeers are converted into securities.
The Graph will integrate Bitcoin, Polkadot and NEAR blockchains
The Graph announced that it is exploring support for layer 1 blockchains, including Bitcoin, Polkadot and NEAR. A month after The Graph’s mainnet launch, the potential integration will be added to the project’s existing list of supported chains, including Ethereum, IPFS and POA. The Graph's services can be used to query data across chains. The new layer one integration is expected to happen in the coming months, depending on the interest and participation of the community. (The Block)
Facebook-backed stablecoin project Diem passes 50 million transactions on testnet
Facebook-backed stablecoin project Diem’s testnet has completed 50 million transactions, according to blockchain explorer inDiem. According to previous reports, after passing comprehensive testing, Diem is expected to be released publicly later in 2021. (Decrypt)
Tron Suspected to Conduct Parachain Auctions
Sun Yuchen voiced on Weibo and Twitter, suspecting that TRON will conduct parachain auctions.
According to data from CryptoSlam, the total sales of NBA TOP Shot have surpassed that of CryptoKitties, ranking first among all kinds of NFT collectibles.
Decentralized Lending Protocol Aave Releases V1 to V2 Migration Tool
On January 28, the decentralized lending protocol Aave announced the release of a migration tool from V1 to V2. Users can operate on the V1 panel, select the collateral and positions that need to be upgraded, and then migrate to V2.
The SUSHI block reward will be reduced to 50 SUSHI today
Twitter user @DeFiSushi reminded that the SUSHI block reward will be reduced today, from 100 SUSHI in September last year to 50 SUSHI. This is the "halving" story of SUSHI, compared to Bitcoin every four years. Halved once.
According to official documents, the SUSHI block reward is currently 60 SUSHI, and it will be reduced to 50 SUSHI on February 1.
The cross-chain DeFi platform Alpha Finance Lab (ALPHA) announced that it will officially launch the leveraged mining agreement Alpha Homora V2 on February 1. The V2 version will integrate Curve, Balancer, SushiSwap, Uniswap leveraged mining, and will also support Cream Finance's zero Collateralized cross-protocol lending feature Iron Bank.
Phala and KILT have entered the Rococo V1 test network as parallel links
According to the data on the Rococo chain of the wave card parallel chain test network, Phala Network and KILT Protocol have entered the Rococo V1 network as parallel links.
According to the Rococo V1 access criteria, the successful operation of the project party on the Rococo V1 parachain slot means that it has completed the technical preparations to run on Polkadot and Kusama, and has become a slot auction candidate with technical capabilities.
Plasm Network Announces Completion of ZK Rollup Integration Testing
Plasm Network, the Polkadot layer-2 expansion protocol, tweeted that the ZK Rollup integration test has been successfully completed.
Decentralized auction tool Bounce V2 professional version is officially launched
The professional version of the decentralized auction tool Bounce (that is, the community-authorized auction platform) was officially launched on the 25th. In the new version of Bounce, it is up to the community to decide which projects can be activated and which projects can conduct token sales on Bounce.
Darwin-Ethereum Golden Gate Bridge two-way transfer opens
Darwin (DARWINIA) officially announced the opening of Darwin-Ethereum Golden Gate Bridge two-way transfer. The gradual launch of the Darwin mainnet has reached the third stage: a complete Darwin-Ethereum cross-chain bridge. Now, users can freely transfer Darwin assets between Darwin and Ethereum in a decentralized manner, and need to pay some network fees (Ethereum and RING).
Synthetic asset protocol Mirror Protocol is voting to list GME and AMC equity tokens
The Synthetic Assets Protocol Mirror Protocol is voting to list GME and AMC equity tokens.
The EVM-compatible smart contract development language Fe releases the first Alpah version
Security Incident and Follow-up
Security Incident and Follow-up
According to SlowMist Technology, SushiSwap has been attacked again. This time, the problem is that the transaction fee of the DIGG-WBTC transaction pair was stolen by the attacker through special means. This attack is similar to the first attack of SushiSwap, which generates profit by manipulating the exchange price of trading pairs, but the process is different. The first attack is because the attacker used the LP token itself and other tokens to create a A new trading pair, and manipulated the price of this new trading pair by manipulating the initial liquidity to make a profit, and this attack took advantage of the fact that DIGG itself does not have a WETH trading pair, and the attacker created this trading pair and The initial transaction price was manipulated, resulting in a huge slippage during the fee exchange process. The attacker only needs to use a small amount of DIGG and WETH to provide initial liquidity to obtain huge profits.
Firo announced that it has activated the LLMQ chain lock to resist 51% attacks
Firo tweeted that the LLMQ chain lock (Chainlocks) has been activated. Chainlock leverages Firo's network of masternodes to resist 51% attacks for near-instant block confirmation and consensus on the longest valid/accepted chain.
Dogecoin Network Suspected DoS Attack
Nikita Zhavoronkov, the chief developer of Blockchair, revealed on Twitter that just as Dogecoin (DOGE) skyrocketed by 500%, the network seemed to be under a large-scale DoS attack. connect.
Refi.finance Suspected of Running Away, Stolen Over 2,600 BAS
Weibo user CryptoBlanker said that the Refi.finance project directly used the reserved setBoardroom() function and changed the Boardroom address to the address deployed by itself. Only 2,600 BAS were withdrawn, worth 111 ETH (approximately 144,000 U.S. dollars).
Binance Smart Chain DeFi project popcornswap ran away
Investment and financing overview
Investment and financing overview
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Terraform Labs Closes $25M Funding Led by Galaxy Digital
On January 26, Terraform Labs (the company behind the stablecoin platform Terra) completed a $25 million financing, led by Galaxy Digital, with participation from Pantera Capital and Coinbase Ventures. (Bloomberg)
dYdX Completes $10 Million Series B Funding Led by Three Arrows Capital
Decentralized derivatives trading platform dYdX announced the completion of $10 million in Series B financing, led by Three Arrows Capital and DeFiance Capital, new investors Wintermute, Hashed, GSR, SCP, Scalar Capital, Spartan Group, RockTree Capital and existing investors Institutions such as a16z, Polychain Capital, Kindred Ventures, 1confirmation, Elad Gil, and Fred Ehrsam followed suit.
Weather risk management platform Arbol closes nearly $7 million in Series A funding
Sid Jha, founder and CEO of Arbol, a weather risk management platform based on the Ethereum blockchain, said that Arbol completed a round A round of financing of nearly $7 million around Christmas in 2020. New investors include Mubadala Capital Ventures, Finch Finance All seed round investors including Space Capital participated in the investment. (Alleywatch)
Stellar Development Foundation Invests $5M in Crypto Payments Firm Wyre
The Stellar Development Foundation has invested $5 million in encrypted payment company Wyre to strengthen support for financial applications in the Stellar ecosystem. The Stellar Foundation said the investment will introduce various payment APIs that can be used by applications on the Stellar network. (CoinDesk)
Polkadot's cross-chain oracle ParaLink Network completes $2.8 million in financing
ParaLink Network, a cross-chain oracle machine for Polkadot, announced on Thursday that it has completed $2.8 million in financing. Investors include LD Capital, Kenetic, 3Commas, Genesis Block Ventures, and NGC Ventures. Paralink also announced Reef Finance CEO Denko Mancheski as an advisor.
DeFi Protocol Sovryn Raises $2.5M in Token Presale
Bitcoin-based DeFi protocol Sovryn announced Thursday that it has raised $2.5 million in a token presale. Sovryn co-founder Edan Yago said the pre-sale, reserved for its community, allows participants to secure their right to purchase the protocol’s native token, SOV, which will launch next month. (The Block)
Blockchain project ParaState completes $1.3 million in seed round financing
Blockchain project ParaState has received $1.3 million in seed funding, led by CMS Trading. Investors in this round also include Block Dream Fund, FBG Capital, LD Capital, Kenetic Capital, JRR Capital, SevenX Ventures, MXC Eco Fund, AU21 Fund, RockX, Ruby Capital, YBB Foundation, and Signum Capital partner YY Lai. The company is valued at $12 million. It is reported that ParaState is a project that provides Ethereum developers with access to Polkadot blockchain functions. (The Block)
Parsec, a DeFi integration platform, is now online and has completed a $1.25 million seed round of financing, led by Polychain Capital, with participation from Robot Ventures, Volt Capital, Free Company, Eric Conner, Alex Pack and Will Price. Prior to this funding, Parsec had already raised a small pre-seed round from Polychain’s incubator program. (The Block)
News On January 28, 2021, Bifrost, the basic Polkadot ecological protocol, announced that it has received a new round of angel financing. This is the second round of financing for Bifrost after the $600,000 seed round in September 2020. Institutions participating in this round of investment include: CMS Holding, Altonomy, SevenX Ventures, Zonff Partners, PAKA, Timestamp Capital, Incuba Alpha, Oasis Capital, Kernel Ventures, and Loopring co-founders Jay and Steve Guo.
