Evening News | Multichain: Some cross-chain routes are unavailable due to force majeure, and the recovery time for services is unknown; Multichain co-founder and CEO Zhao Jun may be temporarily unreachable
Multichain: Some cross-chain routing is unavailable due to force majeure, and the recovery time is unknown; OKX has completed the APP upgrade, providing virtual asset spot trading services for Hong Kong users.整理：西柚，ChainCatcher
"What important events have occurred in the past 24 hours"
1.Binance: Will suspend deposits for 10 bridging Token networks while awaiting clarification from the Multichain team
According to ChainCatcher, Binance announced that it will suspend deposits for the following bridging Token networks while awaiting clarification from the Multichain team: POLS-BSC, ACH-BSC, BIFI-FTM, SUPER-BSC, AVA-ETH, SPELL-AVAXC, ALPACA-FTM, FTM-ETH, FARM-BSC, DEXE-BSC. Deposits for these assets on other networks remain open. (Source link)
2.Multichain co-founder and CEO Zhao Jun may be temporarily unreachable
According to ChainCatcher, sources from PANews indicate that Multichain co-founder and CEO Zhao Jun is currently unreachable. ChainCatcher also attempted to contact Zhao Jun via WeChat yesterday but has not received a response. Additionally, Qian Dejun, founder of the Fusion Foundation and former co-founder of Multichain, stated on Twitter that he has not been able to reach Zhao Jun.
Previous report indicated that Multichain officially stated that due to force majeure, some cross-chain routes are unavailable, and the time for service restoration is unknown. Multichain co-founder Alfred Xu responded in the official community early this morning, stating that the team is intact and the main business is operating normally. (Source link)
3.OKX completes APP upgrade, providing virtual asset spot trading services for Hong Kong users
According to ChainCatcher, OKX has completed an APP upgrade to provide safe and reliable virtual asset spot trading services for Hong Kong users, in compliance with the regulations of Hong Kong virtual asset service providers (VASP). It supports Hong Kong users in buying, selling, and holding 16 mainstream virtual asset spots.
OKX Chief Business Officer Lennix Lai stated: "We will continue to work with Hong Kong regulators to advance the licensing application under the new VASP regime and actively support government policy goals, allocating resources to help Hong Kong develop into a thriving virtual asset center." (Source link)
4.Fantom Foundation: The cross-chain bridge between Multichain and Fantom is operating normally
According to ChainCatcher, the Fantom Foundation released an update stating that the cross-chain bridge between Multichain and Fantom is operating normally.
It is reported that since Multichain is the main cross-chain bridge protocol on the Fantom chain, the price of FTM dropped over 10% within 24 hours after the Multichain cross-chain delays and team arrest FUD. (Source link)
5.Multichain co-founder: The team is intact and working normally
According to ChainCatcher, Multichain co-founder Alfred Xu responded to questions about the "team being arrested" in the Multichain Telegram community, stating that the team is intact, the main business is normal, and the routing restoration will be credited automatically, with the team working normally. (Source link)
6.Multichain: Some cross-chain routes are unavailable due to force majeure, and the time for service restoration is unknown
According to ChainCatcher, the cross-chain interoperability protocol Multichain tweeted that while most cross-chain routes of the Multichain protocol are running well, some cross-chain routes are unavailable due to force majeure, and the time for service restoration is unknown. After service restoration, pending transactions will be automatically credited, and Multichain will compensate users affected during this process, with compensation plans to be announced later.
Previous reports indicated that Multichain officially responded in the community regarding abnormal delays in cross-chain fund arrivals, stating that the backend node upgrades took longer than expected, and some routes (Kava, zkSync, Polygon zkEVM) are temporarily suspended. (Source link)
"What are some noteworthy articles to read in the past 24 hours"
1.《Is Cosmos Summer Coming? An Overview of Recent Important Upgrades and Ecological Progress in Cosmos》
Since 2023, the Cosmos ecosystem has actually performed quite well overall. First, the ecological public chain Canto's daily trading volume once surpassed Solana, giving Cosmos a strong start. Then, the liquidity staking protocol Stride, Layer 1 public chains Injective and Kujira saw their TVL continue to rise, increasing by 2-6 times compared to January, with Stride and Injective tokens also rising nearly 10 times at one point. In April this year, according to token terminal data monitoring, the number of active developers on the Cosmos SDK briefly exceeded that of Ethereum, currently slightly below Ethereum in second place. Many users also express high expectations for the various plans of Cosmos in the second half of the year, with voices in the market saying "Cosmos Summer is coming" and "the flywheel effect is starting."
This article provides an overview and analysis of the important progress made after the release of the Cosmos 2.0 white paper, as well as the dynamics and hot ecological projects of Cosmos in the second half of the year.
2.《Will Liquidity Venture Capital Shape a More Efficient Crypto Market?》
Cryptographic assets are still in their early stages, and there is currently no recognized valuation framework for investors to reference. The crypto market is filled with price speculation and hype, with little attention paid to fundamentals—an example being meme coins with zero utility achieving market capitalizations in the billions in a short time. Unlike traditional markets, early projects/protocols are similar to startups still in seed or Series A stages, often launching tokens on the public market. Additionally, it is very easy to inject liquidity into newly created cryptocurrencies in decentralized exchanges, and various factors combine to make the cryptocurrency market one of the most dynamic yet challenging investment markets today.
3.《Two Months After the Launch of the Zksync Mainnet, a Report on Ecological Development》
zkSync is an Ethereum Layer 2 network scaling solution based on ZK Rollups architecture, which launched its mainnet Fair Onboarding Alpha on February 16, 2023. During this phase, only registered projects were allowed to test, and it was not open to end users. On March 24, 2023, the zkSync Era mainnet was opened to everyone, while zkSync 2.0 was renamed zkSync Era, and zkSync 1.0 was renamed zkSync Lite. Now, two months after its launch, how is the ecological development of zkSync? Let’s take a look.
According to official plans, the Way Network testnet is expected to debut in June, at which point end users will be able to experience how zkBridge enables cross-chain Token transfers through Send Finance. Developers can attempt to deploy full-chain DApps using this cross-chain infrastructure, and users can also try out new cross-chain experiences.
