Evening News | The Creditors' Committee of Sanjian Capital is established; Christie's launches investment fund Christie's Ventures
BNB Chain announced the list of projects participating in the MVBV incubation program; Solana's former marketing director joins the new public chain Aptos as ecosystem director.Organizer: Runsheng, Chain Catcher
"What important events have occurred in the past 24 hours?"
1. Layer 2 scaling solution Scroll announces the launch of pre-alpha testnet
The zkEVM-based Layer 2 scaling solution Scroll has announced the release of a pre-alpha testnet for external testers to quickly gather community feedback. Early testers can now apply for access on the official website.
According to the article, after the pre-alpha testnet, Scroll will deploy a more open and permissionless alpha testnet, planned to be deployed on the public Ethereum testnet and open to the public, expected to include the following features:
Allow developers to deploy smart contracts
Allow anyone to run archived Scroll nodes
Generate and aggregate more zkEVM proofs to be verified on-chain (source link)
2. Insider: Three Arrows Capital creditors' committee established, including DCG, Voyager, and 5 other members
According to three insiders, the creditors' committee of Three Arrows Capital has been established, consisting of five members from Digital Currency Group (DCG), Voyager, CoinList, Blockchain.com, and Matrixport. Creditors voted based on their voting rights (debt size) to ultimately select these five members.
Previously, it was reported that Three Arrows Capital owes $3.5 billion to 27 cryptocurrency companies. The largest creditor on the list is Genesis, which lent $2.3 billion to 3AC. (The Block)
3. Genesis lent Three Arrows Capital $2.36 billion, currently under-collateralized
According to relevant documents, the cryptocurrency lending institution Genesis, under Digital Currency Group, lent $2.36 billion to Three Arrows Capital, with an average margin requirement exceeding 80%. If margin calls are not met, Genesis will sell collateral to hedge against further downside risk.
Currently, these debts are under-collateralized. Last month, Genesis attempted to recover part of the loan by initiating arbitration against Three Arrows through the American Arbitration Association (AAA) in New York, but suspended the arbitration process after hiring consulting firm Teneo to oversee the liquidation of Three Arrows at the end of June. Previous reports indicated that the CEO of Genesis stated that Three Arrows Capital had liquidated collateral due to failure to meet margin calls. (The Block)
4. BNB Chain announces the list of projects participating in the MVBV incubation program
BNB Chain has announced the list of projects participating in the MVBV incubation program, which includes 27 projects. These projects will receive an 8-week program that offers development opportunities including mentorship, courses, and workshops. BNB Chain stated that it cannot guarantee that all these projects will receive investment from BNB Chain and will evaluate potential investment targets through a rigorous process. The 27 projects are:
Infrastructure and tools projects: Web3Go, Space ID, Multi-Chain Event Protocol (MEP), Overeality, Port3 Network, Nakji Network, Zash, Metasset, Staging Labs;
DeFi projects: InsurAce Protocol, Antimatter DAO, Tender.fi, Wink Financial, Aperture Finance, Velvet Finance, Deus Ex Securitas, IdentDeFi;
SocialFi/DAO projects: AnyDAO, Kola Labs, FusePass, Orange Protocol;
NFT projects: Rareboard, Double Protocol, GiroGiroAI;
GameFi projects: Meta Apes, Gameta, and CryptoZombie. (source link)
5. Christie's launches investment fund Christie's Ventures, focusing on Web3 and other fields
Christie's has launched the investment fund Christie's Ventures, aimed at providing financial resources and expert support to emerging technology and fintech companies to create solutions related to the art market. The fund will focus on three areas: Web3, art-related financial products, and art consumption solutions and technologies. Currently, Christie's Ventures has invested in the cross-chain interoperability protocol LayerZero. (source link)
6. Ethereum Goerli testnet to merge on August 11
The Ethereum Goerli testnet is set to merge on August 11, with the TTD (Total Terminal Difficulty) for the Goerli merge expected to be determined in early next month. The Bellatrix upgrade may be advanced to August 4, with TTD occurring on August 10.
Previously reported, Goerli is also the last Ethereum testnet to merge. If all goes well, the mainnet merge is planned for September 19. (source link)
7. Former Solana marketing head joins new blockchain Aptos as ecosystem director
Former Solana marketing head Austin announced on Twitter that he will officially join the new blockchain Aptos next month as the ecosystem director. Austin has focused much of his career in web3 on incubating and expanding global communities and teams.
The blockchain Aptos, founded by former Diem team members, announced a $200 million Aptos ecosystem grant program, expected to launch the Aptos mainnet around the end of September. (source link)
8. TIME magazine: hopes to convert all future subscriptions into NFTs
According to Chain Catcher, TIME magazine president Keith Grossman recently stated that he hopes to migrate all future subscriptions into TIMEPieces NFTs, thereby granting holders exclusive subscription rights and ownership of personal data. The TIMEPieces NFTs consist of four series: Genesis Inspiration, Long Neckie Women of the Year, Slices of Time, and Beatclub Collection, with all NFTs inspired by images from TIME magazine. (Cryptoslate)
"What are some excellent articles worth reading in the past 24 hours?"
1. “Behind the most 'lavish' crypto VC firm GEM Digital: a hidden and bizarre capital game”
As the crypto market remains sluggish and venture capital firms slow down their investment frequency, an emerging VC firm has attracted considerable attention in the industry with its high-frequency investment pace and exaggerated investment amounts: GEM Digital. The firm has committed over $1.6 billion in investments within six months, making it the most 'lavish' crypto VC firm, but Chain Catcher reporters have uncovered many unknown yet bizarre secrets behind it.
A report from the U.S. Securities and Exchange Commission noted that the term "metaverse" appeared in regulatory documents over 1,100 times in the first six months of 2022. A year ago, this number was only 260 times, and if we look back further, the term had appeared less than ten times in the past 20 years. The concept of the metaverse is increasingly mentioned, but it seems that no one can clearly explain what it is or what they are trying to build. Even among executives of companies frequently mentioning the metaverse, there appears to be serious disagreement on the issue, including debates about VR headsets, blockchain, and cryptocurrencies, as well as when the metaverse will actually arrive.
3. “A16z game investment partner Arianna Simpson discusses the future of Web3 games and the metaverse”
Arianna Simpson is a general partner at Andreessen Horowitz (A16z), one of the top venture capital firms investing in technology, gaming, and crypto. The author of this article spoke with her to gain insights into the intersection of cryptocurrency and gaming, her views on gamers adopting non-fungible tokens (NFTs), why players should earn from games, and why A16z founders Marc Andreessen and Ben Horowitz see opportunities in this field and are doubling down on investments in specific industries. Despite the market experiencing multiple rollercoaster cycles, this belief has not changed.
4. “Merging soon: A detailed explanation of Ethereum's latest technical roadmap”
At the end of January this year, the Ethereum Foundation announced that it would abandon the term "ETH2" and instead refer to the current Ethereum mainnet as the "execution layer" for processing transactions and executing, while the original ETH2 terminology was changed to the "consensus layer" for coordinating and processing PoS. Currently, the official Ethereum roadmap covers three parts: the beacon chain, the merge, and sharding. This article focuses on sharding, and the author believes that the Ethereum roadmap in the next 2 to 3 years will revolve around serving Rollups.
