Evening News | StarkWare Announces Token Economic Model; Celo Network Stops Block Production
AEX has suspended the withdrawal function due to short-term liquidity issues; Nayuki's Tea has taken down the virtual stock membership activity today.Organizer: Nianqing, Chain Catcher
"What important events have occurred in the past 24 hours?"
1. Ethereum Layer 2 scaling solution StarkWare announces token economic model, plans to officially issue in September
Ethereum Layer 2 scaling solution StarkWare has published the StarkNet token economics model and has already minted 10 billion tokens off-chain, planning to use them as ERC-20 tokens on Ethereum in September 2022.
The token will serve as a mechanism for operating the network (fees), maintaining and securing the network (staking), and determining its value and strategic goals (governance). A portion of the newly minted tokens and transaction fees will be granted to core infrastructure developers and smart contract developers.
In terms of token distribution, 17% is allocated to StarkWare investors, 32.9% to core contributors, both of which have a 4-year lock-up period. All tokens allocated to core contributors and investors will have a 4-year vesting period with a 1-year lock-up period. Additionally, 50.1% is granted to the foundation, of which 8.1% is unallocated and will further support the StarkNet community, with specific methods to be decided by the community. (Source link)
2. Polygon joins Disney's "Accelerator Program" to develop AR, NFT, and AI
Polygon is continuing to expand its Web3 infrastructure through a new project in collaboration with Disney. According to a statement from Disney, Polygon is one of six companies selected to participate in Disney's 2022 Accelerator Program. The program, which began this week, aims to develop new technologies in the fields of AR, NFT, and AI. Throughout the program, each participating company will receive guidance from Disney's senior leadership team, as well as dedicated executive mentors. (CoinDesk)
3. Sources: Crypto custody firm Copper to complete Series C funding at a $2 billion valuation
According to sources, UK crypto asset custody firm Copper is set to complete its Series C funding at a $2 billion valuation, with the funding currently underway and expected to conclude in the coming weeks. It is unclear whether the funding amount will be disclosed.
Copper had previously sought $500 million in funding at a $3 billion valuation last November but was put on hold due to temporary regulatory registration in the UK. Prior to that, it raised $50 million in its Series B funding in March 2021, but the valuation was not disclosed. (CoinDesk)
4. Celo: Network halts block production, funds are currently safe
Celo officially stated that its network stopped producing blocks at block height 14,035,19 (about 3 hours ago). Validators are working to identify and resolve the issue, and all funds on the network are currently safe. An update will be provided as soon as possible. (Source link)
5. Tencent News may shut down digital collectibles business due to poor sales
Recently, Tencent News has replaced the original "digital collectibles" section in its app with "digital orders." The "digital collectibles business adjustment announcement" indicates that due to a shift in business model, Tencent News began suspending the sale of digital collectibles starting in July 2022, and users can view their purchased collectibles within the app.
It is reported that the digital collectibles released by Tencent News have not performed well compared to other platforms, with many works remaining unsold. Additionally, the collectibles in Tencent News are not integrated with Tencent's "Huanhe app," and Tencent News has included a referral link to Huanhe in this announcement to invite users to download it. (Source link)
6. AEX temporarily closes withdrawal function due to short-term liquidity issues
According to an announcement from the AEX Chinese community, the AEX platform has temporarily closed the withdrawal function due to unresolved short-term liquidity issues and is currently unable to meet users' withdrawal needs. The platform expects to reopen withdrawals once it has sufficient short-term liquidity. Additionally, AEX stated in the announcement that the platform's long-term funds are completely secure and can easily cover all user assets. The platform will continue to operate its existing business and will not stop any ongoing services.
7. Nayuki's Tea has offline virtual stock membership activity today
According to the official shopping page activity notice from Nayuki's Tea, the virtual stock membership activity has officially ended today at 16:00 after the game settlement, due to "consideration for user experience." After the activity ends, the virtual stocks in the accounts of participating members will be automatically exchanged for Nayuki coins at a rate of 1 virtual stock to 6 Nayuki coins from 17:10 to 18:00 on July 14, and the borrowed coins will be automatically returned to the platform during the exchange.
"What are some noteworthy articles to read in the past 24 hours?"
1. "How to Build a Crypto Banking System?"
This article explores the foundations needed to build a financial system on DeFi. Despite numerous innovations in the DeFi space, most of them are merely repeating speculation. This article discusses the necessary components required to construct an effective financial system that can provide funding for the real economy.
Building a robust cryptocurrency financial system requires three components: tokenized real-world credit (bonds), a strong cryptocurrency market for trading and lending (providing deep liquidity and price discovery), and the maturity conversion of crypto banks.
Ethereum Layer 2 scaling solution StarkWare has released three consecutive blog posts announcing the StarkNet token economic model, officially stating that the token will be issued in September this year, making it another leading Layer 2 solution to issue a token after Optimism.
StarkWare stated that the Alpha version of StarkNet was launched on the mainnet in November 2021, and currently, dozens of teams worldwide are dedicated to it. "Now is the time to advance the decentralization of the network, achieving the activity, censorship resistance, transparency, and inclusiveness required by Ethereum L2."
3. "Is the 'New New Public Chain' War Reignited? A Preemptive Overview of the Aptos Ecosystem"
The public chain Aptos, launched by the original Diem team, plans to launch its mainnet at the end of September, and its ecosystem is beginning to take shape.
Aptos launched its Incentivized Testnet 2 on July 12, just a few weeks after Incentivized Testnet 1. The official statistics for Incentivized Testnet 2 have not yet been released, but the popularity of participation in Incentivized Testnet 1 indicates a new wave of interest in public chains sparked by Aptos. The official stated at the end of Incentivized Testnet 1 that they never expected to have 30,000 registrations, and the number of full nodes connected to the devnet reached 18,000 before the testnet was ready.
