Evening News | Solana Labs to Launch Web3 Phone Saga; Cross-Chain Bridge Horizon Hacked with Losses of Approximately $100 Million
Optimism launches the second round of governance voting; Do Kwon expresses confidence in rebuilding Terra.Organizer: Biscuit, Chain Catcher
"What important events have occurred in the past 24 hours"
1. Solana Labs to launch Web3 phone Saga and establish a $10 million ecosystem fund
Solana Labs CEO Anatoly Yakovenko announced that his team is developing a new Android phone, Saga, which focuses on Web3 and will include a Web3 dapp store, integrated "Solana Pay" to facilitate QR code-based on-chain payments, a mobile wallet adapter, and a "seed vault" for storing private keys. Anatoly Yakovenko stated that it will cost around $1,000 and is planned to start shipping in early 2023.
Additionally, the Solana Foundation has committed to providing $10 million to incentivize developers to build applications using its Solana Mobile Stack (SMS). (Source link)
2. Cross-chain bridge Horizon announces hack, approximately $100 million stolen
The public chain project Harmony's cross-chain bridge Horizon announced that it has suffered a hack, resulting in a loss of approximately $100 million. The project is currently cooperating with relevant authorities and experts to track down the attackers and recover the stolen assets. Furthermore, Harmony stated that the trustless Bitcoin cross-chain bridge was not affected and has notified exchanges while suspending the Horizon cross-chain bridge.
It is reported that the attacker's address is 0x0d043128146654C7683Fbf30ac98D7B2285DeD00. (Source link)
3. Optimism has launched the second round of governance proposal voting
Ethereum Layer 2 scaling network Optimism has launched the second round of governance proposal voting today at 3:00 AM, which will last until July 7 at 3:00 AM Beijing time. The projects approved for voting on OP token allocation this round include ParaSwap, Optimistic Railway, dForce, GYSR, Mean Finance, Raptor, Balancer and BeethovenX, Summa, WardenSwap, and Pickle Finance.
Additionally, Ooki Protocol, Infinity Wallet, Beefy, 0xHabitat, and Thales have submitted proposals but have not yet received explicit approval. In the previously concluded first round of governance proposal voting, proposals from 25 projects were approved, with a total of 36 million OP tokens allocated to these 25 projects. (Source link)
4. CoinList announces the list of seed projects for the Summer 2022 batch, including Mystiko.Network, TeleportDAO, and others
CoinList has announced the list of seed projects for the Summer 2022 batch, totaling 6 projects, including the Avalanche-based options trading platform Arrow Markets, the Solana-based NFT marketplace protocol Candy Shop, the asset cross-chain protocol TeleportDAO, the Web3 privacy infrastructure Mystiko.Network, the Web3 automation tool Loop Crypto, and the music NFT platform Decent. (Source link)
5. Singapore digital securities trading platform ADDX partners with China Construction Bank to provide digital securities products for Chinese investors
Singapore digital securities trading platform ADDX announced that it has signed a memorandum of understanding and established a partnership with China Construction Bank (Chongqing Branch and Singapore Branch) to implement the QDLP (Qualified Domestic Limited Partner) program for Chinese investors.
According to the memorandum, China Construction Bank (Chongqing Branch) can be designated as the custodian bank for a $200 million investment in ADDX, while it can allocate fund units under the QDLP configuration to its wealth clients, providing Chinese investors with private market opportunities issued in the form of digital securities, covering a wide range of asset types, including private equity funds, venture capital funds, real estate funds, hedge funds, pre-IPO stocks, bonds, and structured products.
It is reported that ADDX was established in 2017 and uses blockchain and smart contract technology to automate manual processes to address inefficiencies in private market securities distribution. It has obtained licenses for digital securities issuance, custody, and secondary trading from the Monetary Authority of Singapore. According to the project's official website, digital securities are digitized stocks, bonds, funds, and other financial securities on the blockchain. (Source link)
"What are some interesting articles worth reading in the past 24 hours"
The $40 billion Terra empire founded by Do Kwon collapsed last month. Now, despite facing investor anger, government investigations, and a downturn in the crypto market, this South Korean entrepreneur is trying to make a comeback. Do Kwon told The Wall Street Journal, "I am confident in our ability to rebuild stronger than before." However, The Wall Street Journal's investigation found that Do Kwon has long exaggerated the connection between Terra and Chai and had parted ways with another co-founder as early as 2020.
2. "Starting from the discount of stETH - Pricing, liquidity, and risks of stETH"
Recently, rumors about the insolvency of the well-known lending platform Celsius have been rampant, and the asset sell-off by Celsius and other troubled institutions to raise funds has led to the decoupling of stETH prices. Currently, the exchange rate of stETH to ETH on Curve is approximately 0.937. The decoupling of stETH from ETH prices has caused panic in the market, with concerns that stETH may follow in the footsteps of UST and fall into a death spiral. So, what exactly is stETH, which Celsius holds in large quantities? Does stETH's price have the risk of a death spiral?
The suddenly exposed $1 billion major creditor of 3AC, Voyager, is very mysterious, with substantial assets amounting to $6.2 billion last year, primarily from customer deposits. Voyager currently has a total loan value of $2 billion, which includes approximately $1 billion in 15,250 BTC and 350 million USDC from 3AC. This article helps readers understand the reasons behind this through an analysis of Voyager's financial reports.
