Evening News | Juno plans to confiscate over $100 million in assets from airdrop whales; Terraform Labs donates 12 million LUNA to LFG
The Uniswap community proposed to deploy V3 to Celo; the HBAR Foundation launched a $100 million sustainability fund.Organizer: Vincent, Chain Catcher
"What are the truly important news today?"
1. Terraform Labs donates 12 million Luna to LFG, which will be burned to mint UST
Terra founder Do Kwon tweeted that Terraform Labs (TFL) donated an additional 12 million Luna to the Terra ecosystem non-profit organization LFG. These funds will be burned to mint UST and will subsequently be used to increase LFG's reserves. Do Kwon stated that, at current prices, the UST reserves have increased by $1.2 billion. (Source link)
2. Uniswap community initiates proposal to deploy Uniswap V3 on Celo
The Uniswap community has released a governance proposal aimed at deploying Uniswap V3 on Celo to launch a "green asset" liquidity pool and extend Uniswap's access to smartphone users globally. The proposal also includes providing $10 million in financial incentives to Uniswap users and additional grant funding from the Celo Foundation to leverage Uniswap as a financial building block, increasing Uniswap's impact.
Celo is a mobile-first, carbon-negative, and EVM-compatible blockchain with a mission to establish an open financial system that creates prosperous conditions for everyone. (Source link)
3. Insiders: Venture capital firm Hack VC is launching a $500 million new crypto venture fund
According to two insiders, venture capital firm Hack VC is launching a $500 million crypto venture fund, and a company spokesperson declined to comment on this.
Sources say the firm has started fundraising in recent weeks and believes raising $500 million should not be a problem, as the fund has support from companies including Fidelity, Sequoia Capital, Temasek, as well as Anchorage Digital, BlockFi, Maker, and Terra. The new fund will allow Hack VC to double its profitable private equity investments. Last year, Hack VC launched a $200 million crypto seed fund. (Source link)
4. Princeton University receives $20 million donation from crypto alumni to launch blockchain research program
According to Bloomberg, Princeton University's Venture Forward initiative has received a $20 million donation from notable alumni including Peter Bridger of Fortress Investment, Joseph Lubin, co-founder of Ethereum, Daniel Morehead, CEO of Pantera Capital, and Mike Novogratz of Galaxy Digital. This donation will help Princeton University launch a program to research "the decentralization of social power" through blockchain technology, exploring its vast social capabilities.
The Venture Forward initiative at Princeton University is a participation and fundraising effort aimed at building community and alumni engagement, seeking significant philanthropic support for the university, and sharing Princeton's defining principles and its impact on the world. This blockchain research program aims to study how modern technologies, especially blockchain technology, disrupt and change social norms, similar to past technologies like the printing press and the internet. (Source link)
5. HBAR Foundation launches $100 million sustainable development fund aimed at investing in Hedera-based solutions
The HBAR Foundation under the Hedera distributed ledger platform has launched a $100 million sustainable development fund aimed at investing in Hedera-based solutions, including carbon emissions, offsets, and removals, as well as other similar projects.
DOVU, a carbon offset trust layer supported by Hedera, will be the first project to receive funding from this fund. The HBAR Foundation was established last year, and the Hedera governing council previously allocated HBAR tokens worth $2.5 billion to the foundation. (Source link)
6. Former Credit Suisse valuation risk manager launches crypto options trading fund ZX Squared Capital and raises $200 million
Former Credit Suisse valuation risk manager CK Zheng has launched a crypto options trading fund, ZX Squared Capital, raising $200 million. The fund aims to provide higher returns and lower volatility by deploying trading strategies in crypto options. ZX Squared claims that compared to Bitcoin's volatility of over 80%, the fund can reduce volatility to 30%-40%. (Source link)
7. Venture capital firm Bessemer Venture Partners plans to invest $250 million in Web3 and launches Web 3 community BessemerDAO
Venture capital firm Bessemer Venture Partners, which has invested in Shopify, LinkedIn, and Pinterest, plans to allocate $250 million from its existing fund to invest in DeFi, infrastructure, and "other technologies" in the Web3 space. Additionally, Bessemer Venture Partners has launched a Web 3 community, BessemerDAO, aimed at founders, creators, and operators for sharing insights, business development discussions, and tokenomics design. Bessemer Venture Partners has previously invested in Web3 projects like MakersPlace, Sorare, and TRM Labs. (Source link)
8. Juno initiates governance proposal to delete 2.5 million JUNO tokens from airdrop whale player across 50 accounts
The Cosmos smart contract platform Juno has initiated a proposal in the governance forum to upgrade the contract and delete approximately 2.5 million JUNO tokens (retaining 50,000) from an airdrop whale player across 50 accounts, sending funds to the Juno community pool to alleviate community concerns. Voting will end in 5 days.
According to the proposal and Twitter user @TheJunonaut, after Juno launched its airdrop last year, an address starting with "juno1aeh" aggregated 2.5 million JUNO from 50 addresses, which was considered a violation of the rule that each entity could receive a maximum of 50,000 JUNO. The community subsequently proposed to reduce the airdrop amount by 90% to avoid centralization and sell-off of funds, but it failed with a 56.4% opposition rate.
Afterward, the address staked all JUNO but recently began selling some of the airdropped tokens and staking rewards. It is reported that this address holds 9.6% of the voting power, and a corresponding proportion of total staking rewards flows to this address, currently selling about 10,000 JUNO daily, and all tokens can deplete the entire DEX liquidity in less than 10 minutes. (Source link)
Read "Juno's new proposal to confiscate over $100 million in assets may become the first case of project parties confiscating user assets" for more details on this event.
9. Layer2 privacy cross-chain protocol Zecrey completes $4 million angel round financing, co-led by Spartan Group and Shima Capital
The zkRollup-based Layer2 privacy cross-chain protocol Zecrey has completed angel round financing, co-led by Spartan Group and Shima Capital, with participation from Fundamental Labs, Fenbushi Capital, Amber Group, Avalanche Asia Star Fund (Avatar), CMT Digital Group, Youbi Capital, SevenX, D1 Ventures, Spark Digital Capital, Pluto, Avstar, Mulana, MapleBlock, as well as individual investors Nagi HAMIYEH (CIO) from Temasek and Bruno Porto from Glencore.
Zecrey is a one-stop high-performance general-purpose privacy cross-chain protocol based on zkRollup, providing high-performance, low-cost privacy solutions for digital assets across multi-chain ecosystems such as Ethereum, Near, Solana, and BNB Chain, and helping users easily manage, exchange, and bridge assets across chains, achieving privacy cross-chain services for digital assets on different public chains. (Source link)
"What articles are the editors of Chain Catcher reading?"
In the Web3.0 era, blockchain infrastructure alone is not enough with innovations in consensus mechanisms and cross-chain capabilities; off-chain computing has become a major trend in solving problems. Due to the constraints of the impossible triangle, exploring off-chain computing using semi-centralized methods can achieve higher scalability, and the key to this solution is how to achieve consensus on off-chain computing results on-chain.
2. "What communities and projects are worth paying attention to in Gitcoin Round 13?"
The open-source software and community donation platform Gitcoin has launched its 13th round of donation activities, running from March 9 to March 23. Gitcoin has many high-quality projects or teams, but currently, 648 projects have applied for grants, making it difficult for users to choose. This article compiles several quality projects and teams for readers' reference.
3. "Understanding popular decentralized identity DID projects: ENS and MetaMask"
Fundamentally, Web3 is closely related to economic transactions, thus emphasizing the importance of establishing a robust identity system. This article will introduce the main concepts of DID, discuss the current DID ecosystem from a high-level perspective, and then delve into some cutting-edge selected projects that build the foundation of Web3 identity, such as ENS and MetaMask.
