Evening News | Binance and FTX obtain cryptocurrency service provider licenses in Dubai; MakerDAO plans to launch governance token stkMKR

Organizer: Richard Lee, Chain Catcher

"What are the truly important news today?"

1. Magic Eden, the NFT marketplace on Solana, completes $27 million financing with participation from Sequoia Capital

According to Bloomberg, Magic Eden, the NFT marketplace on Solana, has completed $27 million in financing, with investors including Sequoia Capital, Paradigm, and Greylock.

It is reported that Magic Eden was founded by former Coinbase product manager Zhuoxun Yin. In addition to the NFT marketplace, Magic Eden has also established MagicDAO, where users can vote on which NFT collections to display on the homepage. (Source link)

2. EU Parliament votes down MiCA regulation draft with restrictions on PoW cryptocurrencies

According to Coindesk, the Economic and Monetary Affairs Committee of the European Parliament voted tonight to exclude the clause restricting the use of PoW cryptocurrencies from the proposed Markets in Crypto-Assets (MiCA) framework draft. This clause was added to the draft last week and aimed to limit the use of PoW cryptocurrencies across the 27 EU member states.

According to Twitter user @paddi_hansen, the voting results were 32 votes against and 24 votes in favor. The MiCA framework draft is a comprehensive regulatory scheme for managing digital assets in the EU, and it will now enter formal negotiations among the European Commission, Council, and Parliament. (Source link)

3. Juno development team proposes community to vote against "confiscating airdrop whale assets" proposal

The Juno development team Core-1 on the Cosmos smart contract platform proposed to the community on Twitter today to vote against the previous proposal to "confiscate airdrop whale assets." Core-1 stated that the text of the "confiscate assets" proposal was hastily written and does not reflect the core principles valued by Juno. After gathering more information and consulting with the community, Core-1 hopes to formulate a new proposal that provides more context and alternative solutions to address the initial "bug."

Previously, Chain Catcher reported that on March 11, Juno initiated a proposal on the governance platform to upgrade the contract and remove JUNO assets from a whale player's account, redistributing them to the Juno community fund pool. It was noted that during last year's airdrop process, an address starting with "juno1aeh" accumulated 2.5 million JUNO from 50 addresses, controlling 9.6% of the voting power, and had been frequently selling recently, prompting the Juno development team Core-1 to initiate the "confiscate their assets" governance proposal. This proposal sparked controversy regarding private property rights in the crypto community. (Source link)

4. MakerDAO community releases governance proposal to introduce new governance token stkMKR to replace MKR

Members of the risk control team of the decentralized stablecoin protocol MakerDAO, monetsupply.eth, released a proposal for tokenomics and governance reform, planning to introduce a new governance token stkMKR to replace MKR.

According to the proposal, stkMKR is non-transferable and represents MKR staked in the governance protocol. Exiting requires an unbinding period, and holding stkMKR allows users to receive a portion of MKR tokens purchased through surplus auctions, thereby encouraging MKR holders to stake and participate in governance through the new governance token. (Source link)

5. Binance and FTX obtain cryptocurrency service provider licenses in Dubai

Cryptocurrency exchange FTX announced that it has obtained a virtual asset license in Dubai and plans to establish a regional headquarters there. According to the announcement, the company will provide complex crypto derivatives trading with centralized counterparty clearing capabilities to the institutional market.

On the same day, Bloomberg reported that another cryptocurrency exchange, Binance, also obtained cryptocurrency service provider licenses in both Dubai and Bahrain. (Source link)

6. FTX Ventures head: There is a disconnect between private and public valuations of crypto startups, will focus on earlier-stage companies

According to The Information, Amy Wu, head of FTX Ventures, stated that she has not yet seen inflation and rising interest rates directly impact the valuations of crypto startups. However, she expects that as the Federal Reserve raises interest rates this week and the stock market reacts, the valuations of growth-stage or more mature companies will soon decline, as large tech stocks have recently experienced significant drops, with Coinbase's stock price briefly hitting a historic low of $155.2 early this morning.

Amy Wu explained that there is currently little valuation of crypto startups based on fundamental cash flows, with more emphasis on comparisons in the public market. "It is very clear that there is a disconnect between public and private valuations," she said, "I will be more conservative until we see consistency between private equity and public equity… Therefore, in the meantime, I will enter earlier stages and try to buy my equity and token supply earlier." (Source link)

7. Dfinity achieves milestone, releases zero gas fee AMMs, atomic swaps, and other DeFi building blocks

Dfinity officially announced on Twitter that it has completed a milestone called "Titanium" on February 25, releasing zero gas fee AMMs, atomic swaps, on-chain DeFi systems, cross-chain bridges, and rapid exit mechanisms as basic building blocks for DeFi on the Internet Computer.

It is expected that the next milestone, "Chromium" (also known as "Satoshi Release"), will be completed in May to achieve direct integration between BTC and ICP. (Source link)

8. Crypto startup Gauntlet completes $23.8 million financing, led by Ribbit Capital

Crypto startup Gauntlet has completed $23.8 million in financing, led by Ribbit Capital, with participation from Polychain and Paradigm, reaching a valuation of $1 billion.

It is reported that Gauntlet's platform serves DeFi protocols and decentralized organizations, allowing startups and project teams to simulate and stress-test how their protocol decisions will perform in the real world, using agent-based simulations to adjust key parameters of the protocol, thereby optimizing capital efficiency, fees, risks, and incentives. Users of the Gauntlet platform include protocols such as Aave, Compound, and SushiSwap. Gauntlet previously completed a $4.3 million financing round led by Paradigm in 2020. (Source link)

"What articles are the editors of Chain Catcher reading?"

1. "Detailed Explanation of Cosmos Cross-Chain Communication Mechanism and Specific Products"

The theme of the 2020 crypto story revolved around DeFi and composable financial systems, while the narrative of 2021 focused on the rapid development of interoperability among various public chains. Interchain introduces the mechanism design of IBC and cross-chain communication, new features such as "cross-chain accounts," and practical application products.

The latest feature of IBC, "cross-chain accounts," allows one chain to send messages to another chain while also receiving receipts.

2. "CryptoPunks vs. BAYC: On-Chain Data Tells You Who the Real King Is"

CryptoPunks and BAYC have always been the two leading IPs in the NFT field. In this article, NFTGo compares the two in terms of price and trading volume over time, highlighting their operational characteristics and brand value: the BAYC team values membership and is gradually improving its exclusive member-only ecosystem, with its collection behavior primarily driven by membership; while CryptoPunks is positioned more as a genesis collection in the NFT space, with its underlying value supported by its pioneering narrative elements, akin to antiques waiting to be collected, leaning more towards a means of value storage.

3. "Jump Crypto: Five Basic Ways for DeFi Players to Earn Stable High Returns"

This article examines yield farming from a fundamental perspective, exploring how crypto assets operate to achieve compound returns. It clarifies the most basic value exchanges throughout the mining process. Among them, DeFi investors passively provide five forms of value: operating networks, providing loans, providing liquidity, managing protocols, and promoting protocols.

4. "DeFi Alliance Co-Founder: Four Common Traps for Web3 Founders"

DeFi Alliance co-founder Qiao Wang organizes common issues faced by Web3 entrepreneurs from the perspectives of public relations/marketing, recruitment, community management, and tokenomics, and offers suggestions.