Evening News | Solana has incorporated the Move language into its development strategy; 1confirmation founder changes Twitter name to "1492.eth"
Mu Changchun, director of the Digital Currency Research Institute of the People's Bank of China, stated that the whole society is encouraged to participate in the development and application innovation of digital renminbi smart contract templates.Organizer: Nianqing, Chain Catcher
"What Important Events Happened in the Last 24 Hours"
1. Mu Changchun: Encouraging the Whole Society to Participate in the Development and Application Innovation of Digital RMB Smart Contract Templates
Mu Changchun, director of the Digital Currency Research Institute of the People's Bank of China, delivered a keynote speech on digital RMB and smart contracts at the 2022 China International Finance Annual Forum on September 2. Mu Changchun stated that in the top-level design of digital RMB, the programmability of digital RMB is achieved by loading smart contracts that do not affect the monetary function, allowing for automatic payment transactions based on the conditions and rules agreed upon by the parties involved, while ensuring safety and compliance.
Mu Changchun also mentioned that the ecological construction of digital RMB smart contracts should adhere to the principles of openness and open-source, encouraging the whole society to participate in the development of contract templates and application innovation, establishing a rich, efficient, and convenient supply system for smart contracts. The digital RMB smart contract ecological service platform can become an open platform similar to mobile application markets, where various institutions can provide smart contract services, and users can combine and use them like building blocks, achieving openness, open-source, co-construction, and sharing.
According to Mu Changchun, the application scenarios of digital RMB smart contracts are quite extensive and have been successfully applied in areas such as government subsidies, retail marketing, and prepaid fund management. "Digital RMB smart contracts can reduce the performance costs of economic activities, optimize the business environment, and promote the deep development of the digital economy. With the gradual improvement of the underlying platform and related institutional arrangements, it will accelerate landing on a larger scale." (Source Link)
2. Solana Has Incorporated the Meta Programming Language Move into Its Development Strategy
According to information on the Solana Foundation's GitHub page, the team has incorporated the Move language into its development strategy, aiming to increase developer interest and promote community development activities.
It is reported that Move is a programming language created by Meta (formerly Facebook) and has become one of the preferred programming languages for Web3 developers. (Source Link)
3. Venture Capital Firm 1confirmation Founder Nick Tomaino Changes Twitter Name to "1492.eth"
Nick Tomaino, founding partner of the venture capital firm 1confirmation, changed his Twitter nickname to "1492.eth" and stated, "In 1492, Columbus began his first voyage." He also called ENS a perfect NFT series, saying, "Some people do not consider ENS as an NFT, but the fact is it is the most widely held NFT."
It is reported that in June, 1confirmation launched a $100 million NFT fund, which will directly invest in NFTs and has a 10-year lifespan, primarily focusing on investing in new projects of the companies it supports, such as projects in gaming, art, photography, and music. (Source Link)
4. Coinbase Faces Class Action Lawsuit for Alleged Securities Fraud
Kessler Topaz Meltzer & Check, LLP law firm claims that Coinbase Global, Inc. ("Coinbase", NASDAQ: COIN) violated federal securities laws, including omissions and fraudulent misstatements related to the company's business, operations, and prospects.
Specifically, the firm believes that Coinbase made false or misleading statements or failed to disclose that insiders of Coinbase suddenly increased their holdings of Coinbase Class A common stock in the registration statement and other documents submitted to the SEC related to the company's public offering in April 2021. On the first day of Coinbase's public trading on April 14, 2021, several insiders sold over 7 million shares of Coinbase Class A common stock, including more than 1.3 million shares at the opening of that day, totaling over $2.7 billion in proceeds from such sales.
It is reported that Kessler Topaz Meltzer & Check, LLP is urging Coinbase investors to seek appointment as lead plaintiff in the class action through the firm or other lawyers no later than October 3, 2022. (prnewswire)
5. Decentralized Domain Protocol SPACE ID to Start Distributing Auction Revenue to Domain Holders on September 14
Decentralized domain protocol SPACE ID announced that it will start distributing auction revenue (1019 BNB) to domain holders on September 14. The .bnb domain pre-registration activity attracted a total of 8984 participants registering a total of 23518 domains.
Recently, SPACE ID announced the completion of its seed round financing, led by Binance Labs. (Source Link)
"What Exciting Articles Are Worth Reading in the Last 24 Hours"
Although the BendDAO liquidity crisis has been temporarily overcome, we must ask: has the NFT lending pool model truly escaped this minor storm? Are there still potential risks in the liquidation mechanisms of other NFT lending pools, and can they withstand the test of extreme market conditions?
In this article, we will systematically sort out the main protocols of the NFT lending pool model, including BendDAO, JPEG'd, Pine Loan, and Drops DAO's liquidation mechanisms, as well as how users can assess and control risks.
In the ongoing bear market for cryptocurrencies and the cooling of DeFi, the Layer 1 protocol Injective, focused on DeFi construction, recently completed a $40 million financing led by Jump Crypto. The DeFi derivatives platform built on Injective is one of the most promising markets in DeFi, but its scale is still in a very early stage, with most of the market occupied by centralized exchanges like Binance and FTX. In this context, how will Layer 1, represented by Injective, break through? What opportunities for overtaking are there?
Recently, Chain Catcher interviewed Eric Chen, co-founder and CEO of Injective Labs, to discuss the existing problems in the DeFi market and the future development landscape in depth.
3. "Babylon Finance Founder: Why We Chose to Shut Down and the Lessons I Learned"
On August 31, Ramon Recuero, founder of Babylon, announced that the protocol would officially cease operations in mid-November this year, mainly due to the irreparable losses caused by the hacker attack on the Rari/FEI lending pool in April this year. This article is Ramon Recuero's announcement, in which the founder details why he chose to shut down the protocol and shares his experiences and lessons learned while operating the Babylon project.
