Daily Report ｜ Metamask earned $1.23 million in fees over the past month; 29 projects including Camelot and GMX were selected for the Arbitrum short-term incentive program
The modular execution layer Fuel launches a native cross-chain bridge; SBF's ex-girlfriend testifies that Alameda borrowed about $10 billion from FTX.整理：flowie, ChainCatcher
What important events happened in the past 24 hours?
1. Data: Metamask earned $1.23 million in fees over the past month, with approximately $740,000 contributed by Symbolic Capital
According to Scopescan monitoring, Symbolic Capital conducted two transactions through MetaMask in the past two hours, totaling $4.15 million, contributing $34,000 in fee revenue to Metamask (fee rate of 0.875%).
Over the past month, Metamask earned $1.23 million in fee revenue, of which approximately $740,000 (about 60%) came from Symbolic Capital. (Source link)
2. Arbitrum short-term incentive program voting ends, 29 projects including Camelot, Jones, and GMX win
According to ChainCatcher, the first round of voting for the short-term incentive program (STIP) launched by Arbitrum has been completed. Out of 97 proposals submitted, 29 projects will be able to participate in this incentive program according to Arbitrum rules, including Camelot, Jones, Dopex, GMX, Galxe, LODESTAR, Socket, Timeswap, RADIANT, Pendle, MUX, Frax, Tally, Rysk, Silo, Stella, Good, Gamma, Umami, Abracadabra, KyberSwap, OpenOcean, Angle, Trader, Dolomite, Premia, Vertex, Perennial, and Balancer.
In early October, Arbitrum launched the first round of voting for the short-term incentive program (STIP), allocating 50 million ARB to promote network development. If the requested grants exceed 50 million ARB, they will be allocated based on the following principles: according to the number of votes in favor of the proposals and the time the proposals were posted to the forum. (Source link)
3. SBF's ex-girlfriend testifies: Alameda borrowed about $10 billion from FTX and falsified Alameda's balance sheet under SBF's instructions
According to Bloomberg, Caroline Ellison, SBF's ex-girlfriend and former CEO of Alameda Research, testified on the third day of SBF's criminal fraud trial that Alameda Research had borrowed about $10 billion from FTX and lent about $5 billion to FTX executives and affiliated entities. "I was very concerned about Alameda's lenders recalling loans in June 2022. I prepared seven different spreadsheets under SBF's guidance, showing Alameda's balance sheet, including loans to FTX executives and the amounts borrowed from FTX."
Additionally, during her testimony, Caroline Ellison detailed how she collaborated with SBF to lie about the health of Alameda and FTX, deceiving lenders and customers. Caroline Ellison testified that she falsified Alameda's balance sheet at Bankman-Fried's direction to conceal the large amounts of money the company was taking from FTX customers.
Caroline Ellison also stated that the FBI had previously seized computers belonging to her mother and her new boyfriend, who also worked at Alameda and FTX. Caroline Ellison discussed this with the government in multiple meetings last December and admitted to the criminal charges. (Source link)
4. Mysten Labs announces the launch of Bullshark Quests 3, allocating 5 million SUI rewards
According to ChainCatcher, Mysten Labs announced the launch of Bullshark Quests 3, allocating 5 million SUI rewards. This round of tasks focuses primarily on gaming and will run from October 12 to November 9.
Reportedly, projects participating in Bullshark Quests 3 include the hybrid casual game Arcade Champions, the PvP tank battle game Panzerdogs, the fitness RPG Run Legends, the AI art platform The Collection, and the Web3 poetry CCG experience Poetry in Motion, among others.
Similar to Bullshark Quests 2, users must have SuiFrens Capy or Bullshark in their accounts to be eligible to participate in Quests 3. (Source link)
5. Modular execution layer Fuel launches native cross-chain bridge, supporting asset transfers between L1 and L2
According to ChainCatcher, the Ethereum modular execution layer Fuel announced the opening of the Beta-4 testnet and a native bridge between Ethereum Sepolia. According to the official introduction, the Fuel native bridge can transfer assets between L1 and L2 and utilizes a message portal to handle token standards such as ERC-20 and ERC-721. On L2, tokens have dedicated contracts for message processing and minting on Fuel. Any assets deposited into Fuel may take up to 6 hours to withdraw back to Ethereum. The Fuel native bridge is still in the testing phase.
According to the crypto data platform RootData, in September 2022, Fuel Labs announced the completion of $80 million in financing, led by Blockchain Capital and Stratos Technologies, with participation from Alameda Research, CoinFund, Bain Capital Crypto, TRGC, Maven 11 Capital, Blockwall, Spartan, Dialectic, and ZMT. (Source link)
6. U.S. CFTC charges former Voyager Digital CEO with fraud in operations
According to ChainCatcher, the U.S. Commodity Futures Trading Commission (CFTC) has charged former Voyager Digital CEO Stephen Ehrlich with fraud and making false statements in the operation of the Voyager digital asset platform and the Voyager unregistered commodity pool, alleging that he promoted the Voyager platform as a "safe haven" to earn high returns and induced customers to purchase and store digital asset commodities. The complaint charges Ehrlich with registration failures.
The CFTC stated it will hold Stephen Ehrlich accountable for fraudulent operations on the digital asset platform and seek restitution, forfeiture of illegal proceeds, civil penalties, permanent trading and registration bans, and issue a permanent injunction against further violations of the Commodity Exchange Act (CEA) and CFTC regulations.
7. G20 leaders issue joint communiqué: adopting a roadmap for cryptocurrency regulation
According to ChainCatcher, G20 finance ministers and central bank governors issued a joint communiqué in Marrakech, Morocco, announcing unanimous approval of a comprehensive roadmap for regulating crypto assets, aimed at enhancing global financial stability and ensuring effective management of cryptocurrencies within the international economic framework.
The agreed-upon crypto asset roadmap is based on a comprehensive document released last month in Delhi, which serves as the "blueprint" for the currently officially recognized G20 crypto asset roadmap. This roadmap includes policy frameworks, outreach initiatives beyond G20 jurisdiction, global coordination, cooperation, basic information sharing, and addressing existing data gaps in the crypto market. G20 leaders also emphasized the necessity of clear tax treatment for crypto assets. (Source link)
8. Stock and crypto trading API service company Alpaca raises $15 million in convertible notes from SBI Group
According to ChainCatcher, stock and cryptocurrency trading API service company Alpaca has raised $15 million in convertible notes from SBI Group, as reported by TechCrunch. Alpaca CEO Yoshi Yokokawa stated that this strategic investment brings the total funding for the Y Combinator-backed startup to $120 million since its establishment in 2015, which will accelerate Alpaca's expansion in Asia.
It is reported that Alpaca launched its crypto API in October 2021, and its crypto business has not yet generated significant revenue. However, Yoshi Yokokawa stated that as the crypto market recovers, the company expects growth in its crypto API business. Alpaca's crypto API enables businesses and developers to trade cryptocurrencies and stocks and build applications that provide cryptocurrency and stock investment services in one API. (Source link)
"What are some interesting articles worth reading in the past 24 hours?"
The Arbitrum community's multi-million dollar grant competition has come to an end. At 10 AM on October 13, the Snapshot voting for the Arbitrum short-term incentive program concluded, with 57 out of 97 proposals approved. Native projects on Arbitrum received the most support, while the rejected proposals were mainly from projects with low relevance to the Arbitrum ecosystem, including some controversial projects like Lido. However, the number of ARB requested by the approved proposals was 74.05 million ARB, exceeding the limit of 50 million, and will need to be filtered based on the number of supportive votes, meaning the final number of projects receiving grants may be less than 57.
Venture capitalists (VCs) are often seen as market leaders capable of making informed and forward-looking decisions. So why do they seem to be following the overall market trend rather than setting it?
Despite a slight market recovery, VC fundraising has dropped to levels seen in 2018-2019. Do they know something that retail investors do not? Shouldn't they be "buying the dip" when valuations are low? Especially since post-investment lock-ups prevent immediate sales, they may ultimately have to sell during a bear market.
To find answers, I interviewed several cryptocurrency venture capitalists and founders of recently funded DeFi projects. I'm pleased to share that Sachi Kamiya from Polygon Ventures, Etiënne from TRGC, and an anonymous angel investor (referred to here as Anon) shared their insights.
According to the ZK Credo declaration, @zksync has recently completed the decentralization of the Ecosystem Portal, Block Explorer, and the official Cross-Bridge, making these core components open-source and provided by third-party tech providers. However, it is puzzling that the "official cross-chain bridge," which involves significant asset deposit and withdrawal channels, was handed over to the obscure @TxFusion_io. Why? How should this be interpreted?
- On-chain game engine projects come in various forms and scales. For example, some are open-source and aimed at the gaming ecosystem, while others are proprietary and custom-built to drive a single game.
This article will introduce some major on-chain game engine projects that should be continuously monitored, as they will shape the future of blockchain-based gaming experiences.
