Project Weekly|V God: Hope that Ethereum can run Metaverse in 5-10 years

Golden Weekly is a weekly block chain industry summary column launched by Golden Finance. The content covers key news of the week, market and contract data, mining information, project dynamics, technological progress and other industry trends. This article is a project weekly, taking you at a glance the progress of mainstream projects and star projects this week.

Ethereum

V God : I hope that Ethereum can run the meta universe in 5-10 years

On August 19th, Ethereum co-founder Vitalik Buterin said in an interview with Bloomberg that blockchain and cryptocurrencies have developed rapidly in the past decade, and their concepts have begun to challenge existing large-scale participation in the fields of finance, technology, and consumer goods. The person. Traditional companies such as Facebook, Twitter, JPMorgan Chase, Goldman Sachs are working hard to incorporate blockchain into their businesses. Blockchain technology in particular poses a major threat to Facebook, Twitter and other social networks. These established companies will eventually lose out to the “industry”. Upstart”. In addition, Vitalik Buterin also looked forward to the future plans of the Ethereum network. He expressed his hope that Ethereum can run Metaverse in the next 5-10 years.

Ethereum NFT collectibles sales drop by 70%

According to data from CryptoSlam, the sales of several top NFT projects have declined compared with the sales of two weeks ago. This week , the sales of CryptoPunks and Meebits dropped by 73% and 70%, respectively, and the sales of BoredApeYachtClubNFT dropped by 49%. Despite the decline in transaction volume, high-priced NFT sales are unlikely to end soon. Christie’s will auction BoredApeNFT as well as CryptoPunks and MeebitsNFT next month.

Microsoft researches an incentive system based on the Ethereum blockchain to combat piracy

On August 16th, in a new paper published by Microsoft’s research department, with the participation of researchers from Alibaba and Carnegie Mellon University, the Redmond-based software giant studied a Blockchain-based incentive system to support anti-piracy activities. Argus is built on the Ethereum blockchain and aims to provide a trust-free incentive mechanism while protecting data collected from an open anonymous group of pirated journalists. Argus can use the corresponding watermark algorithm detailed in the paper to trace the pirated content back to the source, also known as “leak proof”. Every report of leaked content involves an information hiding program. The paper detailed the issue of Ethereum network fees and explained that the team optimized a number of encryption operations, “in order to reduce the cost of piracy reports to the equivalent of sending approximately 14 ETH transfer transactions to run on the public Ethereum network. Cost, which would otherwise correspond to thousands of transactions.”

The leader of the Chilean opposition party holds a “small amount” of Ethereum and says that crypto tokens “should be recognized as an asset”

Recently, Giorgio Jackson, the founder of the Chilean Democratic Revolutionary Party (the party has 10 seats in the House of Commons, plus a seat in the Senate), said at the operation of the Buda cryptocurrency exchange that he has a “small amount” of ETH, but did not disclose the scale of investment. He also said, “I do not reject the possibility of emulating El Salvador, but I am skeptical. And there is not enough reason to argue that cryptocurrency as legal tender in any country is ideal or the best.” In addition, he also Advocates for legal changes, believes that encrypted tokens “should be recognized as assets”, and urges the enactment of financial technology and cryptocurrency-related legislation.

VanEck submits an Ethereum strategy ETF application to the U.S. SEC

VanEck filed an Ethereum-based exchange-traded fund (ETF) application with the U.S. Securities and Exchange Commission (SEC) on Wednesday, which will seek to circumvent U.S. regulators’ crypto ETF blockade by indirectly trading ETH. The Ethereum Strategy ETF (EthereumStrategyETF) will invest in Ethereum futures contracts, Canadian-approved Ethereum ETFs, Ethereum private equity funds and exchange-traded Ethereum products. According to the application documents, it will not directly purchase the digital asset ETH.

Tether added 1 billion USDT banknotes to the Ethereum network (authorized but not issued)

Whale Alert data shows that Tether has newly printed 1 billion USDT in the Ethereum network. In response, Paolo Ardoino, chief technology officer of Tether, said that the Ethereum network has replenished its inventory of 1 billion USDT. This is an authorized but unissued transaction, which means that the amount will be used as inventory for the next issuance request and chain swap.

Bitcoin

JPMorgan Chase: There are signs of bubbles in the investment field of Bitcoin and hydrogen

A report by JPMorgan Chase showed that despite “the bond yields are facing upward pressure” and there are signs of bubbles in the investment areas of special purpose mergers and acquisitions (SPAC), initial public offerings (IPO), Bitcoin and hydrogen, they are still bullish on the US stock market. . JPMorgan Chase strategists said that other market concerns include “bubble-like behavior” industries, including stocks related to the new crown pneumonia blockade, renewable energy, electric vehicles and cryptocurrencies, as well as “high-growth” and innovative stocks.

Galaxy Digital applies to the U.S. SEC for registration of Bitcoin futures ETF

Galaxy Digital, a financial services and cryptocurrency investment management company founded by Mike Novogratz, applied to the US Securities and Exchange Commission (SEC) to register a Bitcoin futures ETF named Galaxy Bitcoin Strategy ETF. According to the application documents, the ETF mainly seeks capital appreciation by managing the exposure of Bitcoin futures contracts, instead of directly investing in Bitcoin, it may invest in Bitcoin futures contracts registered with the US Commodity Futures Trading Commission (CFTC) and Canadian exchanges. Trading funds and money market tools, etc.

Shanghai Minhang Court: Bitcoin is obtained through legal labor, which is disposable, exchangeable and exclusive

The official public account of the Shanghai Minhang Court disclosed the case express: The plaintiff purchased Bitcoin “WKJ” through the Internet. Later, the plaintiff believed that the People’s Bank of China had jointly issued a document “Announcement on Preventing Token Issuance Financing Risks” in conjunction with multiple ministries, calling for the suspension of financing activities for the issuance of various tokens such as Bitcoin. No value, the transaction is illegal, claiming that the contract is invalid and requesting a refund. Is the sale and purchase contract valid? The Shanghai Minhang Court explained that Article 127 of the Civil Code stipulates that “where the law has provisions on the protection of data and network virtual property, the provisions shall be followed.” As far as this case is concerned, Bitcoin is not legally reparable. Currency attributes such as compulsory and other currency cannot be used as currency in the market, but they are obtained through legal labor, possessing dominance, exchangeability, and exclusivity, and have the attributes of virtual commodities. Therefore, the sales contract is valid. The court ruled that the plaintiff’s lawsuit was rejected Request.

Eindhoven becomes the first football club to accept Bitcoin for all sponsorship fees

According to the announcement on August 17, PSV Eindhoven (PSV Eindhoven) became the first European football club to pay all its sponsorship fees in Bitcoin after signing an agreement with the cryptocurrency company Anycoin Direct. This partnership, which aims to promote cryptocurrency awareness in Europe, will last for two seasons. Frans Janssen, Commercial Director of PSV, has created cryptocurrency wallets that are needed to facilitate payments and hold cryptocurrencies. Janssen stated that the possibilities and future offered by the cryptocurrency world are very promising. As a club located in the heart of the Brainport region, we have been innovating, and cryptocurrency is very suitable for this situation.

Bitcoin miner Iris Energy applies for direct listing in the U.S.

On August 18th, Bitcoin miner Iris Energy applied for a direct listing in the United States. Bitcoin miner Iris Energy said: It is expected to be listed on the Nasdaq in the fourth quarter of 2021.

Billionaire Peter Thiel’s big data company accepts Bitcoin as payment

On August 18th, billionaire Peter Thiel’s big data company Palantir Technologies accepted Bitcoin as payment. Note: Peter Thiel is the co-founder of PayPal. In 2004, he wrote the first check to Facebook, which Zuckerberg founded in a three-person dormitory. This investment made Peter Thiel a billionaire.

Analyst Willy Woo: The accumulation of Bitcoin by short-term and long-term investors is continuing

On August 19, analyst Willy Woo said that short-term and long-term investors’ accumulation of Bitcoin is continuing, and companies are continuing to acquire Bitcoin, and capital deposited in the form of stablecoins is flowing into Bitcoin. The outlook for the medium term (about three months later) is bullish. Although holders holding more than 100 BTC tend to switch from a buying strategy to a selling strategy, retailers (holders holding less than 1 BTC, who appear as buyers) continue to do so. At this time, purchases follow a very exponential curve, which is related to the mid-term phase of the bull market. In addition, the flow of stablecoins that left Bitcoin at the beginning of the year has been used to buy Bitcoin again from the beginning of July.

El Salvador’s central bank releases draft of Bitcoin-related banking regulations

According to news on August 19, the Central Bank of El Salvador issued two drafts on August 17, guiding banks and financial institutions on how to provide BTC-related services to customers. The first draft is called “Digital Wallet Platform Bitcoin and U.S. Dollar Authorization Operation Guide”, which stated that starting from September 7th, BTC will be officially adopted as a legal currency. The second draft is titled “Technical Standards for Promoting the Application of Bitcoin Law”, which states that financial entities must apply to the central bank to provide digital wallets. The application must specify the type of product provided, including details of the target market, risk assessment, charges to customers, education regulations for customers, and complaint procedures. All customers need to do KYC, but it is not clear whether the ID card is sufficient for crypto wallets. Comprehensive anti-money laundering procedures such as transaction monitoring and analysis will also be applied. Must provide two-way convertibility between Bitcoin and U.S. dollars, and allow banks to charge fees. All bitcoins held by banks and companies must be fully backed, not partly backed by reserves. The central bank holds U.S. dollars, while Bitcoin will be held by custodians, and custodial services can be outsourced. In addition, the bill also requires banks or financial institutions to warn customers that bitcoin prices are unstable and transactions cannot be reversed. If you lose your private key, you will lose bitcoin. There are no regulations on accounting standards or exchange rates for converting Bitcoin into legal currency or converting legal currency into cryptocurrency.

Wells Fargo has registered a private Bitcoin fund with U.S. regulators

Wells Fargo announced on Thursday that it has registered a private bitcoin fund with US regulators, becoming the latest large bank to provide indirect crypto investment tools for its wealthiest clients. The source said that this is a passive fund. According to regulatory documents, NYDIG and FSInvestments are cooperating with WellsFargo for this issuance. Wells Fargo takes a deduction from sales through two subsidiaries. As of Thursday, the new fund FSNYDIGBitcoinFundI, LP had no sales. JPMorgan Chase’s passive bitcoin fund was also submitted to the US Securities and Exchange Commission on Thursday.

European Futures Exchange launches Bitcoin ETN futures

The European Futures Exchange (Eurex) announced the launch of Bitcoin ETN (Exchange Traded Note) futures, which will become the first regulated Bitcoin derivatives trading market in Europe. This futures issuance will be launched on September 13, based on the Bitcoin ETF BTCetc listed on the Frankfurt Stock Exchange. A Bitcoin ETN is equivalent to 1/1000 Bitcoin and is backed by actual Bitcoin assets. The contract will be traded in Euros and physically delivered in Bitcoin ETN.

Bitcoin mining company Bit Digital released the second quarter of 2021 financial report, Bitcoin mining revenue was 28.3 million US dollars

New York-based Bitcoin mining company Bit Digital today released its second quarter 2021 financial report, with Bitcoin mining revenue of $28.3 million. The number of bitcoins earned was 562.9. As of June 30, 2021, 70.8% of mining machines have been deployed, transported or waiting to be installed in North America. The company has 32,500 miners and will acquire 3,515 miners in the second quarter of 2021.

Other items

Axie Infinity

  • Single-day income of 12.2 million U.S. dollars

Golden Finance reports that according to TokenTerminal data, the NFT+ blockchain game project AxieInfinity has a single-day revenue of 12.2 million U.S. dollars, a total of 81.42 million U.S. dollars in the past 7 days, and a total of 35656 million U.S. dollars in the past 30 days. The market shows that the current AXS offer is $72.09, an intraday increase of 5.71%.

  • Axie Infinity token AXS rose 56% this week, making it among the top 50 cryptocurrencies

In the past 7 days, the exchange rate of the Axie Infinity token AXS against the U.S. dollar has risen by 56.94% to $67.96. Its market value has become one of the top 50 cryptocurrencies and is currently ranked 41st. AXS rose 934% in 90 days and 227% since last month. The AXS economy was valued at US$3.9 billion on Monday, and the transaction volume was US$791 million. Visits to the axie infinity website surged by 375% to 22.9 million. Most of the traffic came from the Philippines, followed by Venezuela, Brazil, the United States and Argentina. Axie Infinity’s other token, SLP, fell 14.8% in two weeks to US$0.175. It has a market value of US$213 million on Monday and a transaction volume of approximately US$123 million.

  • YGG founder Gabby Dizon and Sillytuna offer $1.9 million to recycle rare Axie Almace

On August 17, Gabby Dizon, the founder of YieldGuildGames, tweeted that he would offer Sillytuna $1.9 million (595.5 ETH) to recycle Almace. Almace is the rarest Axie in AxieInfinity (AGAMOGENESIS has three in total). Last year, the two fragmented Almace into 10,000 ALMX tokens through the NFT fragmentation tool Niftex.

  • The number of traders in the “play and earn” blockchain game Axie Infinity has exceeded 400,000

According to the news on August 16, according to the latest data, the number of traders in the “Play-to-Earn” blockchain game Axie Infinity has exceeded 400,000. This article is 400,262 at the time of writing. In addition, the total number of Axie Infinity The transaction volume reached 1.358 billion U.S. dollars, and the sales volume approached 3 million (currently 2,996,475). At present, Axie Infinity ranks first in the NFT collectibles transaction volume ranking, and the second-place CryptoPunks has a transaction volume of approximately US$706 million and the number of traders is 4,262.

Pinecone Finance

  • The Pinecone Finance vault, the revenue aggregator on the BSC chain, was attacked and lost approximately US$200,000

On August 19, according to the official announcement of Pinecone Finance Official, the Pinecone Finance vault, the revenue aggregator on the BSC chain, was attacked and lost approximately 3.5 million PCT (approximately US$200,000). At present, the official has determined the three wallet addresses of the attacker. , And contacted the Binance team to take relevant actions to locate the attacker, and further compensation plans will be announced soon.

  • The perpetrators return all lost tokens and will support the development of the project for a long time

Income aggregator Pinecone Finance stated that the perpetrators returned all the lost tokens and expressed their willingness to support the development of the project in more ways in the long term. According to reports, Pinecone Finance tracked the perpetrator (hereinafter referred to as Mr. X) wallet account. Locked the hot wallet addresses and transfer records of its three major exchanges, and contacted the security audit agency and the exchange to track down Mr. X’s identity. Earlier news, PancakeBunny on the Polygon chain was attacked by outsiders.

Uniswap

  • Uniswap上线Wazir

According to official information, Uniswap has launched the Indian crypto exchange Wazir token BWRX.

  • Uniswap’s latest community proposal to raise $25 million is suspected to be cancelled

On August 20th, Uniswap’s controversial $25 million community proposal has been cancelled. The proposal plans to raise 25 million U.S. dollars in two years and obtain income through automated investment strategies. Half of the proceeds will be distributed to community members and half to service provider Flipside. The proposal was opposed by Dune Analytics and other community members. They did not agree to distribute the proceeds to Flipside, believing that it was an abuse of funds. After hours of debate, Twitter replies and discussions, the proposal received 46.9 million objections. It seems to have been cancelled. Dune Analytics then tweeted: We are very happy that today’s proposal has not passed. We look forward to working with the UNI community to help advance community analysis and fundraising in the best possible way.

  • Uniswap Community Proposal: Plan to raise US$25 million to be managed by the committee, aiming to inspire the community and developers

On August 19th, the Uniswap community launched the latest community proposal. The proposal plans to raise US$25 million worth of UNI, obtain income through automated investment strategies, and distribute 50% of the proceeds to community members or industry organizations such as Dune Analytics to promote The common prosperity of the Uniswap community. Another 50% of the proceeds will be allocated to Flipside, a crypto industry organization, to provide infrastructure development services for Uniswap. This proposal proposes that all funds be managed by a committee composed of 10 people, 3 of whom are members of Flipside. Currently, this proposal is strongly opposed by Dune Analytics. They pointed out that this proposal will make up to 25 million US dollars of UNI to be manipulated by the Flipside organization, and this will have a significant impact on the software developers of the entire Uniswap ecosystem.

Compound

  • Compound plans to initiate a proposal to transfer the emergency suspension protection function to the community’s multi-signature address

The DeFi loan agreement Compound plan initiated a proposal to transfer the Pause Guardian to a community multi-signature address. The proposal transfers emergency guardianship from Compound Labs to a community multi-signature address created by community members, and the multi-signature The signer whose address needs 4-of-6 can approve any transaction. Current members include Compound Labs, Dharma Labs, etc. Pause Guardian (Pause Guardian) is an emergency function for Compound to pause when market supply is tight and large-scale loan liquidation. It has been managed separately by Compound Labs address before.

  • Compound General Counsel: The Ministry of Finance hopes to “capture DeFi” through the infrastructure bill

On August 18, Compound’s general counsel, Jake Chervinsky, believed that the cryptocurrency provisions added to the U.S. Infrastructure Act at the last minute were intended to “capture DeFi.” Chervinsky recently stated on a podcast that the industry has been “schemed” by the encryption tax provisions of the Infrastructure Act. Although Chervinsky pointed out that the previous discussions around the infrastructure bill were “unrelated to encryption,” he attributed more sinister motives to the role of the Treasury Department in influencing the legislation. He admitted that his statement may be a “conspiracy theory”, but hinted that the Treasury Department may be looking for another way to “follow” the harshness that former Treasury Secretary Steve Mnuchin tried to impose on self-hosted crypto wallets. Reporting requirements.

DAO Maker: Provide full compensation for users affected by the hacking incident in two stages

On August 18, DAOMaker launched a compensation plan for users affected by the recent hacking incident. All users affected by the hacker attack will be fully compensated, and the compensation plan will be carried out in 2 phases. The first stage is August 19 before the next SHO. All affected users will receive an airdrop of $500 in their wallets. This money can be used to participate in SHO or withdraw cash. In the second stage, DAOMaker will compensate users in the form of DAO tokens one year later on August 19, and there will be an additional 10% benefit. On September 8, 2021, DAOMaker will airdrop USDR tokens, representing the redemption right after 1 year. Each USDR token is equivalent to the value of 1.1 DAO. On September 8, 2022, all USDR tokens will be deployed in a smart contract for users to exchange for DAO tokens, and all USDR will be destroyed at that time. The value of a DAO. On September 8, 2022, all USDR tokens will be deployed in a smart contract for users to exchange for DAO tokens, and all USDR will be destroyed at that time.

Sushiswap: The latest 5 proposals passed today, or will create a multi-chain expansion fund

On August 18th, the Sushiswap community voted and approved the latest 5 proposals, including the creation of a multi-chain expansion fund, the creation of a multi-language real-time consulting system, the development of infrastructure for NFT storage services, the introduction of governance-controlled payment rate parameters, and the creation of metrics for incentive pools Standards and other terms. According to the snapshot information, the above proposals are the only batch of proposals passed in the past 3 months. In this regard, CIO Jeff Dorman of Arca, an investment institution, said that the above proposal is very valuable for the growth of Sushi’s users and the entire Defi field, and will help the development of token economics and Sushi-related funds.

Porta Network: Launch of Ecosystem Grant Program to Support Developers

On August 19, it was reported that Porta Network, a blockchain project focused on accelerating the mass adoption of Web3, is launching its ecosystem grant program. In 2021, Porta Network will provide grants worth US$60,000, with awards set at US$10,000 and US$15,000, and a total of 2-4 funds will be awarded. Porta is a N-POS proof-of-stake blockchain based on Substrate, focusing on simplifying the experience of users and developers. Since the launch of its testnet “Padlock” on Wednesday, August 11, more than 125 developers have developed on its chain and created more than 80 new cryptocurrencies on the testnet.

Cirus: Former Apple CEO Gil Amelio joined the project as a consultant

The Cirus Foundation announced on Monday that the company has appointed former Apple CEO Gil Amelio as its senior adviser. The blockchain-powered data ownership project said that this senior technology executive will also serve as the chairman of its commercial department, helping Cirus to open up an untapped market for its technology.

Ops: Mobile betting will be officially opened on Uniswap at 21:00 on August 18

According to the official announcement, the social NFT platform Ops on the ETH chain will open Uniswap liquid staking and OPS token trading at 21:00 Beijing time on August 18th. The first ore period will last for 45 days, and the output of the first ore will be 3 times the rate of daily output. Users can obtain OPS tokens by staking OPS-USDT and OPS-FLUX trading pairs. It is reported that Ops is a new social platform in the Web3.0 era created by the Zero One team. Users can freely issue NFT social business cards to realize NFT social content. The main concept is NFT+DeFi+MEME+social. The main functions include NFT auction house transactions, NFT private content browsing, social squares, and built-in liquidity mining.

Anchorage: Launched blockchain governance voting service, the first service object is Aave

Anchorage, a cryptocurrency custody company, launched a blockchain governance voting service to increase institutions’ participation in DeFi. The first service object is the decentralized lending protocol Aave. Institutions and token holders can use Anchorage’s governance portal to participate in the on-chain governance decisions of the Aave lending protocol. The system uses independent voting keys so that digital assets can be safely stored.

Disclaimer: As a blockchain information platform, Golden Finance is for informational reference only, and not as actual investment advice. Please establish a correct investment philosophy and be sure to increase risk awareness.

 

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/project-weekly%ef%bd%9cv-god-hope-that-ethereum-can-run-metaverse-in-5-10-years/
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