Evening News | Optimism hacker claims to return 18 million OP; NFT project mfers founder announces retirement
The 231 million OP incentive fund of Optimism is now open for applications; Coinbase analyzes the underlying reasons for the current "bear market" transition in the crypto market.整理：饼干，链捕手
"What important events have occurred in the past 24 hours"
1. Optimism hacker indicates they will return 18 million OP through on-chain message
According to data from the Optimistic browser, the hacker address involved in the 20 million OP loss incident transferred funds to Vitalik's address and stated in the transaction note, "Hello, Vitalik, I trust you, just wanted to know your opinion on this matter, and help verify the refund address, I will return the remaining OP tokens afterward. Wintermute, I'm sorry, I only have 18 million OP tokens to return."
2. Osmosis plans to restart this weekend, urgently upgrading and testing code patches
The Cosmos ecosystem's Osmosis blockchain has updated its progress regarding a previous vulnerability incident, stating that it is testing code patches and urgent upgrades. If all goes well, the team will restart the blockchain this weekend.
Meanwhile, the team is conducting data analysis to generate a list of affected addresses and plans to compensate affected users within a few days after the chain restart. Any funds lost due to the vulnerability will be covered by the Osmosis developer fund.
Previously, it was reported that the Osmosis blockchain network had halted block production at block height 4713064, with officials confirming a serious vulnerability resulting in approximately 5 million dollars in losses.
3. Optimism's 231 million OP incentive fund is now open for applications
The OP Stimpack (Phase 1 of the governance fund) of the Ethereum Layer 2 scaling network Optimism is now open for applications. This 231 million OP grant program aims to fund builders and projects within the OP ecosystem, with funds allocated through Token House voting. The Token House voting process will operate on a bi-weekly cycle.
Voting cycle 1 will run from June 9 to June 22, focusing on voting for the GovFund Phase 0 proposal, which will allocate millions of OP to projects that have been driving OP growth since day one; the second voting cycle will be from June 23 to July 6, focusing on voting for the new GovFund Phase 1 proposal. Additionally, Optimism will delegate 35 million OP voting rights to dozens of individuals and groups across the ecosystem.
In early May, Optimism announced the establishment of the OP Stimpack fund to provide funding for projects on Optimism, allocating 231 million OP to the fund and launching an airdrop for builders. The amount of OP tokens a project can claim will first be determined by the project's TVL and daily trading volume, and later opened to any project that aligns with Optimism's vision, starting after the first round of retrospective airdrop distribution.
4. Former Terraform Labs employee: Do Kwon transferred about 80 million dollars monthly before UST collapse
The U.S. SEC recently conducted remote video investigations on some Terra employees, with a former Terraform Labs employee confirming to the SEC that Do Kwon transferred approximately 100 billion Korean won (80 million dollars) of company funds monthly to secret crypto wallets and foreign bank accounts, suspected of money laundering.
Additionally, the employee predicted the collapse of LUNA and UST and warned Do Kwon about the potential dangers of design flaws in his Terra ecosystem, but Kwon ignored these warnings.
The U.S. Securities and Exchange Commission has been investigating Do Kwon for violations of securities laws since May of last year, believing that enabling Terra to purchase U.S. stocks through blockchain services violated securities laws. If these allegations are confirmed, Do Kwon could face penalties under U.S. law.
5. Founder of NFT project mfers announces retirement, smart contract will be handed over to the community
The founder of the NFT project mfers, sartoshi, announced on social media in a post titled "mfers next era & end of sartoshi" that the mfers smart contract will be transferred to the community via an unofficial multi-signature address (0x21130E908bba2d41B63fbca7caA131285b8724F8), granting the community 50% of future mfers royalty income. Furthermore, sartoshi stated that he would release his final art piece titled "end of sartoshi," which will have a mint window of 12 hours at a price of 0.069 ETH, and sartoshi himself will "disappear forever" at some point during the minting period.
6. Near decentralized trading protocol Orderly Network completes 20 million dollar financing, Sequoia China participates
The decentralized trading protocol Orderly Network based on Near has completed a 20 million dollar financing round, with participation from Three Arrows Capital, Pantera Capital, Dragonfly Capital, IOSG Ventures, Sequoia China, Jump Crypto, Alameda Research, GSR Ventures, and MetaWeb.VC.
It is reported that Orderly Network was established in April 2022, incubated by NEAR and WOO Network, providing a platform equipped with a risk engine, matching engine, and shared asset pool for DApp construction through an on-chain order book. To further enhance liquidity, Orderly Network will launch a community loan pool, allowing token holders to lend assets to market makers while enjoying the benefits of unilateral liquidity provision.
7. DAO organization behind NFT bidding platform PartyBid completes 16.4 million dollar financing, a16z leads
The decentralized organization PartyDAO behind the NFT bidding platform PartyBid has completed a 16.4 million dollar financing round, led by a16z, with participation from Standard Crypto, Compound Crypto, Dragonfly Capital, Uniswap Ventures, and others.
It is reported that PartyDAO's main application, PartyBid, allows multiple people to pool funds and share ownership to purchase and own or partially own digital assets.
"What excellent articles are worth reading in the past 24 hours"
1. "Coinbase: Analyzing the intrinsic reasons for the crypto market's current 'bear to bull' transition"
As of June 2022, the U.S. stock market had fallen by about 20%, evaporating around 10 trillion dollars; however, for U.S. stock investors, the sell-off seems not to have reached historical lows, indicating that the severity may further escalate. Meanwhile, cryptocurrencies have dropped nearly 60%, resulting in 1.7 trillion dollars evaporating. However, this decline is still minor compared to the 2017 bear market, which saw an 87% drop in total market value after the peak of the 2017 bull market. This article analyzes the actions of the Federal Reserve in recent years, revealing the intrinsic reasons for the crypto market's current "bear to bull" transition.
2. "A comprehensive overview of a16z's Web3 investment landscape"
Andreessen Horowitz (a16z) was founded in 2009 by Marc Lowell Andreessen and Ben Horowitz, combining their surnames into the name of this well-known venture capital firm, which successfully invested in internet companies including Facebook, Groupon, Skype, Twitter, Zynga, and Foursquare. In 2013, a16z led a 25 million dollar Series B financing for Coinbase, officially starting its investment layout in the Web3 industry.
According to publicly available information, a16z has invested in over 80 companies or projects in the Web3 field, covering almost all Web3 tracks, including public chains, Layer 2, DeFi, NFTs, gaming, and the metaverse. This article will review these crypto projects that have received funding from a16z one by one.
Economic globalization has brought new business models, and cross-chain globalization will also give rise to new applications in Web3, with cross-chain information transmission networks becoming the core infrastructure behind the new growth cycle. Correctly transmitting cross-chain messages and accurately reporting multi-chain states are the core difficulties of cross-chain interoperability. Axelar directly addresses this issue and provides a complete solution.
