Evening News ｜ Zhao Changpeng denies conflict with SBF; BitDAO claims 100 million BIT held by Alameda has been transferred on-chain
Huobi releases notification for TRON re-minting PGALA Token; Magic Eden proposes a new NFT standard.Organizer: flowie, ChainCatcher
"What Important Events Happened in the Last 24 Hours"
1. Zhao Changpeng Denies Conflict with SBF: Decision to Liquidate FTT is Transparent, Not the 'Last Straw'
Zhao Changpeng tweeted that the decision to liquidate FTT was made due to concerns about a $580 million FTT deposit to Binance, adhering to the principle of transparency, and was not a conspiracy as some have suggested. He stated that he has devoted all his energy to crypto development, not engaging in a conflict with SBF as speculated. Zhao mentioned he was almost unaware that this would become the "last straw." (Source link)
2. BitDAO: 100 Million BIT Held by Alameda Has Been Transferred On-Chain
The BitDAO community officially stated that the 100 million BIT held by Alameda has been transferred on-chain, thanking Alameda Research and its co-CEO Caroline Ellison for their prompt response. To enhance community confidence, BitDAO suggested keeping the swapped BIT and FTT in their respective on-chain addresses until the end of the three-year commitment made in October 2021 not to sell each other's tokens.
Earlier reports indicated that the BitDAO community issued an emergency proposal today, requesting Alameda Research to transfer 100 million BIT to an on-chain address for BitDAO community verification, rather than a trading platform, and demanded completion within 24 hours, or the BitDAO community would decide (via voting or any other urgent action) how to handle the 3,362,315 FTT in the BitDAO treasury. (Source link)
3. Huobi Co-Founder Du Jun: Supports Arguments, Mutual Scrutiny Ensures Healthy Industry Development
Huobi co-founder Du Jun tweeted, "I support arguments; only through mutual scrutiny can centralized institutions' assets be more transparent, and retail investors' interests can be relatively protected, leading to healthier industry development."
He added, "If this war between CZ and Sam can lead centralized institutions to implement 100% reserves or other measures to promote asset transparency, it would be very beneficial for the entire crypto industry. Government regulators would also prefer to see self-regulation in the industry rather than chaos, where investors' interests are not reasonably protected, ultimately leading to regulatory crackdowns that affect everyone." (Source link)
4. OKGroup Xu Mingxing: FTX's Collapse is Detrimental to the Industry, Hopes CZ and SBF Reach a New Agreement
OKGroup founder Xu Mingxing stated, "If FTX unfortunately becomes another LUNA, no one in the industry will benefit from this incident, including Binance. Clients and regulators will lose some confidence in the entire industry. I hope CZ considers stopping the sale of FTT and reaches a new agreement with SBF."
"Decentralization is the foundation of the crypto industry. If Binance gains 100% market share and BNB's market cap exceeds BTC, the industry will fail, and CZ will lose everything. Helping FTX turn around from its current predicament is CZ's best option." (Source link)
5. Huobi Releases Notification on Re-minting PGALA Token on TRON Network
Huobi released a notification regarding the re-minting of PGALA Token on the TRON network: Due to the pGALA Token contract using an upgradable transparent proxy model, and the owner private key of the pGALA proxy contract's Admin role being leaked on GitHub, the contract configuration permissions have been lost, putting the pGALA contract at risk of being attacked at any time, posing significant security risks.
To protect the interests of PGALA holders on the platform, Huobi Global decided to use the total amount of pGALA actually held by platform users: 6,211,014,582.57982347 as the total issuance, re-minting a 100% decentralized, 100% circulating PGALA Meme Token (PGALA) on the TRON network. The new contract address is: TF7Ncj2PwKYxVthJaCZCRS98XgnXhJ347h.
After the contract replacement is completed, PGALA deposits and withdrawals will open on 2022-11-07 23:00:00 (GMT +8), and the tax burning mechanism will remain unaffected. Subsequent burns will also be conducted on the new contract, with the burn address being: T9yD14Nj9j7xAB4dbGeiX9h8unkKHxuWwb. Other trading platforms in the industry are welcome to support trading and jointly burn PGALA.
6. Magic Eden Co-Founder Proposes New NFT Standard: Enforcing Royalties at the Technical Level
According to Decrypt, Magic Eden co-founder and CEO Jack Lu proposed a new NFT standard at the Solana Breakpoint conference in Lisbon, which would "enforce royalties" at the technical level. Jack Lu believes that implementing this standard could create a new asset class, supporting those who want royalties or new business models.
Jack Lu also cautioned that the new NFT standard would require users to make some "special trade-offs," as enforcing royalties means creators can only have a certain degree of control and ownership, not complete control, "because NFTs with enforced royalties will differ from what we understand NFTs to be today." (Decrypt)
7. GMX Receives $4 Million Trading Reward from Avalanche Foundation
The derivatives protocol GMX has received a $4 million trading reward from the Avalanche Foundation, which will be distributed in AVAX Tokens over the coming months to support GMX and partner platforms built on GMX, including TraderJoe, YieldYak, and Dopex.
This is part of the $180 million liquidity incentive known as Avalanche Rush. The Avalanche Foundation launched this liquidity mining incentive program in August 2021 to develop the Avalanche DeFi ecosystem. The incentive program offsets some of the risks associated with providing liquidity on GMX and allows partner protocols to build new products on top of the revenue model used by GMX. (Source link)
8. NFT Studio Eterlast Completes $4.5 Million Seed Round Financing, Immutable X Among Investors
UK NFT studio Eterlast announced the completion of a $4.5 million seed round financing, with participation from Supernode Global, Play Ventures, Active Partners, Stake Capital, Immutable X, and Founders Factory.
Eterlast is an incubated project of the startup accelerator and venture capital firm Founders Factory, developing NFTs in collaboration with sports and media franchise partners, while also working on blockchain games based on boxing and rugby, aiming to enhance users' gaming, collecting, and trading experiences. (Source link)
"What Exciting Articles Are Worth Reading in the Last 24 Hours"
1. "Is the Binance vs. FTX Showdown Ongoing? (Continuously Tracking the Latest Developments)"
Binance and FTX officially announced their split on July 21, 2021, and since then, friction between the two crypto giants has been constant. Recently, following CoinDesk's exposure of Alameda's financial data, Binance and FTX began a direct confrontation on Twitter.
On the evening of the 6th, Binance founder Zhao Changpeng suddenly took to the field, announcing that Binance decided to liquidate any remaining FTT on its books, seemingly escalating the situation. This article continuously tracks the latest developments.
2. “The Spring of Web2 Application Entrepreneurs Has Quietly Arrived”
Tomasz Tunguz, managing partner at Redpoint Ventures, recently shared a set of data at DuneCon 2022 indicating that during bear market cycles, various metrics in the Web3 space have generally dropped by 40% to 70% from their peaks, but development activity remains active; the sluggish active user data suggests that the spring of Web2 application entrepreneurs has quietly arrived. In particular, Asian entrepreneurs have an unmatched advantage in consumer product innovation and user growth.
The Cosmos ecosystem has recently gained significant attention. Sei, as the first parallelized Cosmos chain, focuses on the DeFi track, aiming to establish Sei as a high-speed chain specifically for trading, to better facilitate decentralized exchanges and provide the best user experience for end-users, thereby making the emergence of new financial products (complex futures and options, live sports betting) possible. This article analyzes Sei's development from multiple perspectives.
