Daily Report | Personnel related to the GameFi project Tiny World are suspected to be under police investigation; Blocknative has stopped MEV-boost services due to economic viability issues, raising concerns about the centralization of Ethereum relays
Metrics Ventures launches a $30 million secondary liquidity fund for digital assets; the SEC has officially received Bitcoin ETF applications from Franklin Templeton and Hashdex."What Important Events Happened in the Last 24 Hours"
1. Data: MakerDAO Increases RWA Assets by $101 Million Today, Total RWA Assets Exceed $3.1 Billion
According to Makerburn data, MakerDAO has once again increased its RWA assets by $101 million through Monetalis Clydesdale, BlockTower Andromeda, and New Silver. The current total RWA assets of the protocol exceed $3.1 billion. (Source link)
2. Ethereum Explorer Rated Completes $12.89 Million Series A Financing, Led by Archetype
Ethereum explorer Rated announced the completion of a $12.89 million Series A financing, led by Archetype, with seed investors Placeholder, 1confirmation, Cherry, and Semantic, as well as new supporters Robot Ventures, Chorus One, Factor, and Maelstrom participating.
Rated Labs currently provides an Ethereum network explorer, data API, and oracle, and plans to expand its products to multiple Layer 1 blockchain networks, including Polygon, Solana, Cosmos, and Polkadot next year. (Source link)
3. Uniswap Foundation Releases $62.37 Million Fundraising Proposal and Announces Future Ecosystem Development Plans
The Uniswap Foundation has announced its latest fundraising and future plans. Last year, Uniswap governance approved $74 million in funding for the Uniswap Foundation. Today, the Uniswap Foundation released a proposal requesting a second tranche of funding as part of the total commitment of $74 million, plus a 10% buffer, totaling $62.37 million, with plans for an on-chain vote on October 4. This funding will support the development of the Uniswap ecosystem, including developer support, research grants, and more.
Additionally, the foundation announced several future plans, including further development of the Hooks ecosystem, launching the TL;DR Fellowship in October 2023, ongoing support for IRL representative activities, and building more digital connection methods. The foundation also plans to achieve larger goals in 2024 and beyond, such as expanding its ecosystem, innovating, and strengthening governance. (Source link)
4. Mixin Founder Feng Xiaodong: Compensation Ratios for Bitcoin, Ethereum, and ERC-20 USDT are 90%, 30%, and 10% Respectively
Mixin founder Feng Xiaodong stated in Mixin Messenger that the main stolen assets in this attack were Bitcoin, Ethereum, and ERC-20 format USDT, with compensation ratios for users being: Bitcoin (90%), Ethereum (30%), ERC-20 format USDT (10%).
Feng Xiaodong mentioned that teams of other cryptocurrencies are preparing to use existing funds and borrow money to purchase corresponding assets for 100% compensation. For the three tokens with the largest amounts of stolen funds, compensation will be calculated based on the price of the tokens on the day they were stolen, converted into US dollar bonds, while prioritizing compensation for ERC-20 USDT victims.
Additionally, Feng Xiaodong stated that the previous estimate of losses being $200 million was due to Mixin being a system designed primarily for privacy and decentralization, making it very difficult to account for and recover assets, and it is currently only able to recover part of the lost assets.
5. Bloomberg: Crypto Exchange Kraken Plans to Launch US-Listed Stock and ETF Trading Services in 2024
According to Bloomberg, crypto exchange Kraken plans to launch US-listed stock and ETF trading services in 2024, venturing into businesses outside the crypto space.
An anonymous source revealed that Kraken will initially offer the aforementioned trading through a new department called Kraken Securities in the US and UK. The company reportedly holds the necessary regulatory licenses in the UK and has applied for a broker-dealer license with the US Financial Industry Regulatory Authority. (Source link)
6. Shiba Inu Developers Have Given Up Control of ShibaSwap Governance Token BONE's Smart Contract
Shiba Inu developer Kaal Dhairya announced on social media that they have confirmed the relinquishment of control over the smart contract of the ShibaSwap governance token BONE, and will continue to build a decentralized, permissionless system for the benefit of the community.
This action means that the smart contract creator has given up control over the token, making BONE immune to future manipulation and fully decentralized. (Source link)
7. SEC Has Officially Received Franklin Templeton and Hashdex's Bitcoin ETF Applications
Bloomberg analyst James Seyffart stated that the SEC has officially received Franklin Templeton's spot Bitcoin ETF application, as well as Hashdex's Bitcoin ETF and Ethereum ETF applications, which are now listed on their official website. Seyffart noted that it typically takes about a week from the submission of a 19b-4 to the SEC accepting the application, but the SEC's swift acceptance may be based on concerns over a potential US government shutdown.
Previous report indicated that Franklin Templeton submitted the 19b-4 filing for the Bitcoin ETF, and the US SEC will initiate the official review process upon receiving the document. (Source link)
8. Blocknative Stops MEV-boost Service Due to Economic Viability Issues, Raising Concerns Over Ethereum Relay Centralization
According to Blockworks, Ethereum infrastructure provider Blocknative will stop its MEV-boost relay service due to the business's inability to maintain economic viability. With Blocknative's decision to cease its MEV-boost relay service, concerns about increased centralization of the Ethereum network have intensified. Recent data shows that 93% of Ethereum blocks created in the past 14 days used MEV-boost, with five entities responsible for 98% of MEV-boosted transactions.
Currently, only four relays remain active on the network, playing a critical role in transaction settlement on Ethereum. The remaining four relays do not charge service fees, making a core part of Ethereum infrastructure no longer profitable for their operators. If the economic incentive issues are not resolved, the centralization problem of relays may further exacerbate. (Source link)
9. GameFi Project Tiny World Personnel Suspected of Police Investigation
According to Wu Talk, multiple investors have reported that personnel related to the GameFi project Tiny World are suspected of being investigated by the police. Tiny World is originally from the EOS Three Kingdoms team.
According to data from the crypto platform RootData, Tiny World completed a $2.5 million financing in 2022, with this round of financing participated by HashKey, SNZ, Sky9 Capital, Everest Ventures Group (EVG), TokenPocket, Cipholio, Foresight Ventures, COCOS-BCX, and others.
Analysts point out that chain games in China are currently easily linked to crimes such as operating a casino. (Source link)
10. Bank for International Settlements Completes Joint Testing of CBDC Cross-Border Transactions and Settlements with Central Banks of France, Singapore, and Switzerland
According to CoinTelegraph, the Bank for International Settlements (BIS) has completed joint testing of CBDC cross-border transactions and settlements with the central banks of France, Singapore, and Switzerland. This test is part of the "Mariana Project" supported by the BIS and jointly developed by the Banque de France, the Monetary Authority of Singapore, and the Swiss National Bank. The project utilizes decentralized finance (DeFi) technology concepts on public blockchains to simulate cross-border transactions and settlements of CBDCs in euros, Singapore dollars, and Swiss francs between financial institutions.
The concept works by using a universal token standard on public blockchains, a bridge for seamless transfer of CBDCs between different networks, and a specific type of decentralized exchange for automatic trading and settlement of spot foreign exchange transactions. (Source link)
11. Metrics Ventures Launches $30 Million Digital Asset Secondary Liquidity Fund
According to Chainwire, Metrics Ventures has announced the launch of a $30 million data and research-driven digital asset secondary liquidity fund.
Metrics Ventures stated that it has obtained a Cayman Islands mutual fund license issued by the Cayman Islands Monetary Authority (CIMA). (Source link)
"What Exciting Articles Are Worth Reading in the Last 24 Hours"
1. "Why is Binance in a Hurry to Sell Its Russian Business to a Newly Launched Exchange?"
The buyer of Binance's Russian business, CommEX, is a crypto exchange that officially launched on September 26, with its social media accounts and Telegram community registered around September 25.
Binance's choice to sell its Russian operations to what appears to be a newly established exchange has raised questions among the public, especially Binance users in Russia, about whether a new exchange can ensure asset security and whether the trading depth can accommodate Binance's Russian users. However, more voices point to "CommEX may be a disguise for Binance's Russian operations."
From Wall Street to the crypto circle, which transition has more impact: from Bitcoin maximalist to Solana Foundation Chair?
Amid the turmoil surrounding FTX last year, the regulatory winds in the entire market also changed. Lily Liu decided to increase investment in the Chinese-speaking region and Asia-Pacific market at the right time, and Solana has correspondingly taken different steps this year. Foresight News had the privilege of interviewing Lily Liu on September 10, 2023, and here is a summary of the interview for readers.
Central Asia, South Asia, and Oceania (CSAO) have the most vibrant and attractive cryptocurrency markets in the world. By raw transaction volume, Central Asia and Oceania are the third-largest cryptocurrency markets in our study, following North America and Central, Northern, and Western Europe (CNWE), accounting for less than 20% of global transaction volume.
4. "Exploring the Potential of RWA: The Next Large-Scale Application Track After Dollar Stablecoins?"
Looking ahead, the development of RWA lays the foundation for innovative changes in the financial sector. In terms of asset selection, RWA will initially focus on standardized assets such as US Treasury bonds, US bond ETFs, gold, REITs, and high-rated corporate bonds, which have mature trading mechanisms and high liquidity, providing a solid foundation for RWA. With technological advancements and market maturation, we expect RWA to gradually expand to non-standardized assets such as artworks, real estate, and private equity, which will require more innovative ideas and solutions, including complex evaluation mechanisms and risk management strategies, while also relying on the gradual improvement of regulatory and compliance frameworks.
In summary, RWA is highly likely to become an important track for large-scale applications and promoting the integration of DeFi and TradFi after dollar stablecoins.
