Evening News | ChatGPT-4 can check smart contract vulnerabilities in real time; stablecoin project CNHC completes $10 million A+ round financing

整理：西昻翔，ChainCatcher

"What Important Events Happened in the Last 24 Hours"

1. ChatGPT-4 Can Check Smart Contract Vulnerabilities in Real Time; AI Will Ultimately Make Smart Contracts Safer

Coinbase executive Conor Grogan tweeted that he inserted a real-time Ethereum smart contract into ChatGPT-4, and the AI instantly found security vulnerabilities, even demonstrating how to exploit these vulnerabilities for attacks.

Conor Grogan added that the contract was indeed exploited by hackers in 2018, and he also revealed that he tried Euler's smart contract, but it was too long for ChatGPT-4 to process. He believes that AI will ultimately make smart contracts safer and easier to build. (Source link)

2. Offshore RMB Stablecoin Project CNHC Completes $10 Million Series A+ Financing, Led by KuCoin Ventures

According to The Block, CNHC Group, the issuer of the CNHC stablecoin pegged 1:1 to the offshore RMB, has raised $10 million. KuCoin Ventures led the round, with other investors including Circle and IDG Capital.

It is reported that the CNHC stablecoin was launched in 2021 for use cases such as remittances and cross-border trade settlements. It is currently issued on the Ethereum and Conflux blockchains, with a total supply of approximately 15 million tokens (valued at about $2 million). CNHC aims to expand the adoption of its stablecoin, especially in the Asia-Pacific region. To this end, the company is relocating its headquarters from the Cayman Islands to Hong Kong. CNHC also plans to hire cross-functional teams (including operations, compliance, and business development) to expand its existing team. (Source link)

3. Bloomberg: Multiple Crypto Asset Companies Are Moving Cash to Asset Managers Like Fidelity

According to Bloomberg, following the recent collapses of several crypto-friendly U.S. banks, an increasing number of crypto asset companies are reaching out to asset management firms like Fidelity to invest their cash in U.S. Treasury products.

Justin Bram, co-founder and CEO of crypto startup Astaria, stated that he was surprised by the number of responses he received after suggesting information that could be referred to Fidelity in a private Telegram group chat last week. Bram said, "In the past three days, I have introduced about 25 companies and funds." He added that the companies referred include large market makers and venture capital firms in the digital asset space. A representative from Fidelity did not immediately respond to a request for comment. (Source link)

4. Lido Expects Mainnet Upgrade in Mid-May

Lido released an update on its Ethereum protocol V2 upgrade, stating that Lido V2 will go live on the Goerli testnet next week. After approximately four weeks of testing, Lido on the Ethereum mainnet is expected to upgrade to V2 in mid-May.

Previously, the Lido community passed the V2 upgrade proposal with 100% support. The Lido team stated that the V2 smart contracts have undergone a total of seven audits, two of which have been completed, while five are ongoing. As of last Friday, all critical issues identified during the audits have been resolved. The updated contracts have been deployed to the Ethereum Zhejiang testnet for testing. (Source link)

5. Goldman Sachs Files Patent to Integrate Blockchain Technology with Settlement Mechanisms

Goldman Sachs recently filed a patent application with the U.S. Patent Office proposing to integrate blockchain technology with its settlement mechanisms.

The patent, numbered US 11605143 2B, was submitted on March 14 and outlines the bank's technological and computational needs for using blockchain. The patent focuses on smart contract technology that can be applied to various financial instruments, such as fractional reserve banking, insurance, bonds, securitized products, and margin loans. (Source link)

6. Over $4.5 Billion in Net Redemptions of USDC Since Last Friday

According to data from The Block, since last Friday, USDC redemptions have reached $6.2 billion, with minting at $1.66 billion, resulting in net redemptions slightly above $4.5 billion.

Steven Zhang, head of research at The Block, stated that despite Circle initiating redemptions and assuring that redemptions would be backed by reserves, USDC holders still seem to feel nervous about the current environment. Given that Circle holds cash reserves in many other banks, if these banks experience a bank run like Silicon Valley Bank, it could lead to USDC being unpegged again. (Source link)

7. Mirror Lake Capital's Wu You Responds to "Pledge but Not Donate" Incident: Unable to Fulfill Commitment Due to Bitcoin Contract Liquidation

Recently, news about "an alumnus failing to fulfill a 11 million yuan donation and being sued by the alma mater" has attracted attention. In response, Wu You stated that the failure to fulfill the donation was due to the liquidation of his Bitcoin contracts, which caused his digital assets to nearly reach zero, and the projects funded by his foundation faced liquidity crises, making it impossible to exit, ultimately leading to a lack of funds to fulfill the commitment. Wu You also mentioned that he had inquired whether the school could accept Bitcoin worth 11 million yuan, but the school stated it could not, so he decided to donate 11 million yuan in cash.

According to previous reports, Wu You, an alumnus of China University of Mining and Technology from the class of 2008, promised to donate 11 million yuan during the school's 110th anniversary celebration in April 2019 and signed a donation agreement with the school. In August 2022, Wu You was sued by the university's education development foundation for failing to pay the donation. Afterward, Wu You still did not fulfill the payment, and on February 21, 2023, he was listed as a dishonest executor, with the People's Court of Tongshan District, Xuzhou City issuing a consumption restriction order against him. (Source link)

8. Coinbase Opens Local Bank Transfer Service for Singapore Users Free of Charge

Coinbase announced that it will open local bank transfer services for Singapore users through a new strategic banking partnership with Standard Chartered Bank, allowing Singapore users to transfer funds to their Coinbase accounts for free from any bank in Singapore. Additionally, Coinbase has introduced Singpass to make it easier for users to join the platform. Coinbase has also upgraded its help center, offering over 200 trading assets and created Coinbase Learning to introduce customers to the crypto economy. (Source link)

"What Exciting Articles Are Worth Reading in the Last 24 Hours"

1. “How the Established Algorithmic Stablecoin Frax Finance Regained Its 'Status' with the LSD Trend?”

As an established algorithmic stablecoin DeFi application, Frax has been in obscurity since the collapse of Terra's UST. How has it regained user attention and carved out a niche with the trend of LSD? This article will provide the answer.

2. “In-Depth Understanding of Synthetix V3: Features, Advantages, and Future Plans”

Synthetix V3 represents a significant milestone for the protocol as it undergoes a complete overhaul to become a permissionless derivatives liquidity platform for next-generation on-chain financial products. This article delves into Synthetix V3, its differences from the current system, including its goal of becoming a liquidity layer for any derivatives market, and discusses the features and advantages of Synthetix V3, as well as its phased rollout plan.

3. “A&T View: The Current State, Issues, and Improvements of Ethereum MEV Extraction Mechanism”

Whenever transaction ordering is involved, the generation of MEV is almost inevitable. Regulating MEV extraction is crucial for the decentralization and censorship resistance of blockchain networks. This article conducts an in-depth study of the current state, issues, and improvement ideas for the Ethereum MEV extraction mechanism.