Today's news tips:
Musk: xAI's GROK 2 large model will be launched in August
ether.fi: New proposal passed by vote, 25 million ETHFI will be airdropped to stakers in the third quarter
CoinList reveals it has removed 2.4 million bots and fake accounts
Kleiner Perkins launches two new funds with sizes of $825 million and $1.2 billion
WLD will usher in a large amount of linear unlocking starting from July 24, unlocking 6.62 million every day for 730 days
Amber Japan, which Sony acquired from Amber Group, is renamed S.BLOX today.
Data: Tokens worth more than $120 million will be unlocked next week, of which SUI unlocks about $50.7 million
CoinShares: Digital asset investment products saw a net outflow of $30 million last week
AI
Musk: xAI's GROK 2 large model will be launched in August
Musk said at the X platform that the GROK 2 large model of xAI will be launched in August.
Project News
Vitalik published an article titled "In-depth slot-and-epoch architecture to provide Ethereum users with a method for faster transaction confirmation time"
Ethereum co-founder Vitalik Buterin published an article titled "A Deep Look into the Slot-and-Epoch Architecture to Provide Ethereum Users with Faster Transaction Confirmation Times". The article states that although compared with five years ago, thanks to EIP-1559 and the merged stable block time, the transaction confirmation time on Ethereum L1 has been shortened to 5-20 seconds, which is comparable to the credit card payment experience, further reducing latency is still of great value, especially for applications that require latency of several hundred milliseconds or even less.
Buterin emphasized that the slot-and-epoch architecture is obviously correct, but not all slot-and-epoch architectures are equal. He advocated a more comprehensive exploration of the design space, especially those options with stronger separation of concerns between the two mechanisms, in order to reduce transaction confirmation time and improve user experience. Buterin said that L2 can currently adopt three strategies: first, both technically and spiritually based on Ethereum, optimize itself to convey the technical characteristics and values of Ethereum; second, as a "server with blockchain Scaffold", by adding mechanisms such as validity proof and user rights protection, fully utilize the server efficiency while obtaining the benefits of the chain; third, adopt a compromise strategy to build a fast chain of one hundred nodes, with Ethereum providing interoperability and security. In the slot-and-epoch architecture, "epochs" represents Ethereum's SSF, while the meaning of "slots" varies in different situations. The key question is to what extent we can optimize the slot-and-epoch architecture based on Ethereum's native, and whether this will affect the application space of other types of pre-confirmation mechanisms. At present, there is still uncertainty about the complexity of block proposers and the design space of the slot-and-epoch architecture. Having more options will help better serve L1 and L2 users and simplify the work of L2 developers.
ether.fi: New proposal passed by vote, 25 million ETHFI will be airdropped to stakers in the third quarter
ether.fi tweeted that the new proposal of ether.fi Foundation was successfully passed, and 25 million ETHFI tokens will be airdropped to eligible ether.fi stakers in Season 3. According to the proposal information, the start date of ether.fi Season 3 is July 1, 2024, and the end date is early September 2024. The airdrop distribution will be carried out shortly after the end of Season 3, during which Perks Passport will be launched, a new participation incentive framework that tracks users' progress and achievements based on their participation in various DeFi activities and events, and rewards users for increasing their ether.fi loyalty points.
Christian denies buying 400,000 USDT of CRV from Curve founder through OTC transactions and dumping the market
In response to community users’ concerns that the founder of Curve may have sold 400,000 USDT of CRV off-market, NextGen Venture co-founder Christian (@Christianeth) said on the X platform, “The 400,000 USDT was not used to buy CRV, but to buy locked CVX; the CRV received was purchased before; there was no market crash, and there was no way to sell that much. The decline was due to other whales transferring tens of millions into the exchange, and the transfer into the exchange was to repay the collateral.” Earlier, according to crypto community user @maid_crypto on the X platform, some on-chain analysts pointed out that the address suspected to be @Christianeth purchased 400,000 USDT worth of CRV from Curve founder Michael Egorov at an off-market price of 0.107 USDT on June 21, and sold all of it at a unit price of 0.333 USDT the next day, causing the CRV market to fall by 5%. On June 28, he received the same amount of CRV from the founder of Curve again.
Abra Launches 'Abra Treasury', a Treasury Service for Businesses Looking to Hold Crypto on Their Balance Sheets
According to CoinDesk, Abra, a digital asset service and wealth management platform, announced the launch of Abra Treasury, which provides services for companies that want to hold cryptocurrencies as reserve assets on their balance sheets. The service will be operated by Abra Capital Management, an investment advisor registered with the US SEC, and will provide a range of digital asset financial management solutions for companies, family offices and non-profit organizations. The company said that Abra Treasury's products combine custody, trading, borrowing and income services, and customers can hold their cryptocurrencies in separately managed clients, enabling them to retain ownership of their digital assets.
OKX will remove RNDR currency pair leverage and perpetual contracts
According to the official announcement, OKX will delist RNDR perpetual contracts from 4:00 to 5:00 pm (UTC+8) on July 9, 2024, and will delist RNDR leveraged trading from 4:00 to 5:00 pm (UTC+8) on July 8, 2024.
According to on-chain analyst @ai_9684xtpa, Abraxas Capital Mgmt withdrew 32,000 ETH (worth $111 million) from Spark Protocol a few minutes ago and then deposited all of it into Bitfinex.
This morning, the institution also deposited 15,000 ETH into Spark as margin, borrowed 25 million USDC and transferred it to Binance.
Binance will add watch tags for multiple tokens including BAL, CTXC, and remove MLN and ZEN watch tags
According to the official announcement, Binance announced that it will add watch tags to more tokens on July 1, 2024. The tokens added to the watch tag list are as follows: Balancer (BAL), Cortex (CTXC), PowerPool (CVP), Convex Finance (CVX), Dock (DOCK), Kava Lend (HARD), IRISnet (IRIS), MovieBloc (MBL), Polkastarte (POLS), Status (SNT), Sun (SUN). The tokens removed from the watch tag list are as follows: Enzyme (MLN), Horizon (ZEN).
According to the announcement, compared to other listed tokens, these tokens may have higher volatility and risk. Trading these tokens with observation tags is risky, and these tokens no longer meet the standards when they were listed on our platform and may be delisted.
CoinList reveals it has removed 2.4 million bots and fake accounts
CoinList recently stated in an official blog that since the establishment of CoinList, the team has removed approximately 2.4 million robots and fake accounts from the platform. For any project, removing these accounts will have a negative impact on revenue because these fake accounts help increase data and profits. CoinList also pointed out that it prioritizes comprehensive witch attack prevention measures to ensure the integrity and fairness of the platform. Although many on-chain platforms and airdrops rely solely on on-chain data to mitigate witch attacks, CoinList's approach is more comprehensive: "We verify the legitimacy of devices and browsers, analyze IP addresses, screen for abnormal robot-like activity, evaluate the legitimacy of email addresses, and ensure that each participant is a unique and verified individual, etc."
Jupiter Co-creation: Opening a new design Jupuary project will be decided by a vote in the next few weeks
Jupiter co-founder meow YuX responded to the question of "when will Jupuary be launched again" by netizens: "I would love to, but ultimately Jupuary needs to be a community-driven initiative, not my personal will. Voting will take place in the next few weeks."
He also added that if Jupuary is launched again, its design will be very different from the first time, which is necessary.
LayerZero CEO denies vulnerability rumors: the application configuration referred to is not a vulnerability, but part of the protocol design
Regarding the news that "LayerZero is suspected of having a serious vulnerability", Bryan Pellegrino, co-founder and CEO of LayerZero Labs, responded on the X platform: "This accusation is completely unfounded. First of all, the code mentioned was pushed in 2022, and it all belongs to application configuration rather than protocol configuration. The payload size limit is part of the application security configuration and is used to set up DVNs. Even in the latest version, the application can override this limit. If the application cannot override the configuration, LayerZero can prevent application message delivery by setting the 'payload limit' to 0, but this is contrary to the protocol design principles."
He further pointed out: "As stated in the previous response, it is not feasible to verify this vulnerability by forking and testing. If it can be achieved, it is just a special setting of a certain application, similar to the incorrect contract configuration of some applications on Ethereum. This is not a vulnerability, but part of the protocol design. Any messaging protocol that engraves such configurations into the protocol should have the ability to review any application. The two are closely linked and inseparable." LayerZero Labs emphasizes the robustness of its technology and firmly believes in the reliability of the censorship-resistant technology track.
Kleiner Perkins launches two new funds with sizes of $825 million and $1.2 billion
According to official news, US venture capital firm Kleiner Perkins announced the establishment of its 21st venture capital fund, KP21, an $825 million fund to support start-ups; in addition, the company also established its third select fund, KP Select III, a $1.2 billion fund to support high-impact investments.
"With these new funds, our team's focus on enterprise software, consumer, healthcare, fintech, and hard tech remains unchanged," the company said in a press release. "Each sector will be greatly accelerated by AI. Industries that require humans for low-level work and have been slow to adopt software, such as healthcare, legal, finance, will transform rapidly. New experiences and computing demands will bring opportunities for hardware and physical infrastructure. Today, imagination is the constraint on the future of technology."
Previously, Kleiner Perkins has invested in NFT platform Autograph, crypto exchange Rain Financial, NFT certification company Optic, generative AI startup Together, etc.
WLD will usher in a large amount of linear unlocking starting from July 24, unlocking 6.62 million every day for 730 days
Token.unlocks data shows that starting from July 24, WLD will usher in a large amount of linear unlocking, with 6.62 million WLD tokens (about 16.94 million US dollars) unlocked every day, and the unlocking will last for 730 days. The unlocking includes community unlocking, initial development team unlocking and investor unlocking.
Amber Japan, which Sony acquired from Amber Group, is renamed S.BLOX today.
According to Coinpost, Amber Japan Co., Ltd., which operates the cryptocurrency trading service "WhaleFin", changed its company name to S.BLOX Co., Ltd. on July 1, 2024. It was acquired by a subsidiary of Singapore market maker Amber Group in February 2022, and then acquired by Quetta Web Co., Ltd., a wholly-owned subsidiary of Sony Group, in August 2023. "WhaleFin" plans to be updated in the future, with the following improvements planned: 1. UI screen redesign; 2. New application release; 3. Expansion of supported currencies and functions.
Bitfinex Securities to Launch Two New Tokenized Bonds on Liquid Network in Partnership with Mikro Kapital
According to The Block, Bitfinex Securities will work with Mikro Kapital to launch two new tokenized bonds on the Liquid Network. The bonds issued this time are 11 months (10% coupon rate) and 36 months (13.5% coupon rate), respectively, and plan to raise up to $10 million in USDT, with a minimum investment of $125,000. Fundraising will start on July 3 and end on July 31. The bond issuance will support small businesses and entrepreneurial projects in emerging markets.
Binance to launch CRV USDC-margined perpetual contract
Binance Futures will launch CRVUSDC perpetual contracts at 15:00 (ET) on July 4, 2024, offering up to 25x leverage.
Important data
The “US Government” wallet address transferred out 3,375 ETH 10 minutes ago
Arkham data shows that 10 minutes ago, the wallet address marked as "US government" (0x05...e049) transferred 3,375 ETH to the address starting with 0x5ac4, worth about $11.75 million. Subsequently, about 3,400 ETH seized by the US government have been transferred to the new address.
The "German Government" address transferred 400 BTC to CEX 12 minutes ago
Arkham data showed that 12 minutes ago, a wallet address marked as "German Government" transferred a total of 400 BTC to Bitstamp, Coinbase and Kraken, worth approximately US$25.28 million.
Data: Tokens worth more than $120 million will be unlocked next week, of which SUI unlocks about $50.7 million
Token Unlocks data shows that next week, SUI, IO, MAV, DYDX and other tokens will usher in a one-time large-scale unlocking, with a total release value of over 120 million US dollars. Among them:
Manta Network (MANTA) will unlock approximately 1.87 million tokens at 7:59 am Beijing time on July 1, accounting for 0.57% of the current circulation, with a value of approximately US$1.85 million;
Sui (SUI) will unlock approximately 64.19 million tokens at 8:00 a.m. Beijing time on July 1, accounting for 2.65% of the current circulation, with a value of approximately US$50.7 million;
ZetaChain (ZETA) will unlock approximately 5.29 million tokens at 8:00 am Beijing time on July 1, accounting for 1.92% of the current circulation and worth approximately US$4.2 million;
DYDX (DYDX) will unlock approximately 8.33 million tokens at 8:00 am Beijing time on July 1, accounting for 3.12% of the current circulation, with a value of approximately US$11.3 million;
Maverick Protocol (MAV) will unlock approximately 36.4 million tokens at 8:00 am Beijing time on July 1, accounting for 14.56% of the current circulation, with a value of approximately US$9.6 million;
Acala (ACA) will unlock approximately 27.43 million tokens at 3:00 p.m. Beijing time on July 1, accounting for 2.69% of the current circulation, with a value of approximately $1.85 million.
io.net (IO) will unlock approximately 7.5 million tokens at 9:00 pm Beijing time on July 1, accounting for 7.89% of the current circulation, with a value of approximately US$24 million;
Euler (EUL) will unlock about 54,000 tokens at 3:07 am Beijing time on July 5, accounting for 0.29% of the current circulation and worth about $240,000;
Galxe (GAL) will unlock about 3 million tokens at 8:00 am Beijing time on July 5, accounting for 2.60% of the current circulation, with a value of about US$6.6 million;
Liquity (LQTY) will unlock approximately 657,000 tokens at 8:00 am Beijing time on July 5, accounting for 0.68% of the current circulation, with a value of approximately US$560,000;
Hashflow (HFT) will unlock approximately 13.62 million tokens at 8:00 a.m. Beijing time on July 7, accounting for 3.28% of the current circulation, with a value of approximately US$2.8 million;
Ethena (ENA) will unlock approximately 14.89 million tokens at 3:00 p.m. Beijing time on July 7, accounting for 0.92% of the current circulation and worth approximately US$7.6 million.
Beosin: The total losses in the Web3 field due to hacker attacks in the first half of 2024 reached US$1.54 billion
According to Beosin Alert monitoring and early warning, the total loss caused by hacker attacks, phishing scams and project party Rug Pull in the Web3 field in the first half of 2024 reached 1.54 billion US dollars. Among them, there were 78 major attacks with a total loss of about 1.193 billion US dollars; 64 project party Rug Pull incidents with a total loss of about 119 million US dollars; the total loss of phishing scams was about 232 million US dollars. In the first half of 2024, there were 3 security incidents with a loss of more than 100 million US dollars. The total loss in May reached 450 million US dollars, which was the month with the highest loss in the first half of 2024. In terms of the types of attacked projects, the type of project with the highest loss was CEX. The 4 attacks on CEX caused a total loss of about 392 million US dollars, accounting for 32.8% of all attack losses. In terms of the loss amount of each chain, Ethereum is still the chain with the highest loss amount and the most attack incidents. 32 attacks on Ethereum caused a loss of $470 million, accounting for 39.4% of the total losses. In terms of attack methods, there were 22 private key leaks in the first half of the year, causing losses of $894 million, accounting for about 75% of the total attack losses, which is the highest proportion of attack types. In terms of capital flow, about $470 million (39.3%) of stolen funds were frozen or recovered. This ratio has increased significantly compared to 2023. Of the 78 attacks in the first half of the year, 43 still came from contract vulnerability exploits. It is recommended that project parties seek audits from professional security companies before going online.
Total NFT sales in the second quarter of this year fell 45% month-on-month
According to Crypto Potato, Cryptoslam data shows that compared with the first quarter of 2024, the monthly transaction volume of the NFT market decreased significantly in the second quarter, with sales falling by 45% month-on-month. In the first quarter of 2024, the total sales volume of the NFT market exceeded US$4.1 billion, a significant increase from US$2.9 billion in the first quarter of 2023. However, in the second quarter of 2024, NFT trading volume declined significantly, with quarterly trading volume of approximately $2.28 billion, the lowest level since the third quarter of 2023. According to analysis, the continued turmoil in the Bitcoin market is the main reason for the decline in NFT trading volume.
In addition, the average selling price of NFTs also dropped significantly in June, from $193 in March to $78, a drop of 60%. As of June 28, sales volume was approximately $419 million, and June is expected to be the lowest sales month since October 2023. Sales in May were slightly over $616 million, down more than 50% from $1.2 billion in April. Not only are sales volumes declining, but other indicators such as the number of sellers and buyers are also declining. In the first quarter, there were approximately 2,238,925 sellers and 3,316,014 buyers. In the second quarter, the number of sellers and buyers was 1,785,367 and 3,300,566, respectively, a slight decrease from the first quarter.
It is worth noting that despite the challenges faced by the NFT market, it still achieved significant milestones in 2024, such as total Solana-based NFT sales surpassed $5 billion on February 23, in addition, earlier this month, and The Bitcoin-based NFT climbed to third place in all-time sales, surpassing the Ronin network.
Abraxas Capital has withdrawn 60,000 ETH from Bitfinex in the past 15 hours and deposited it into Spark as collateral for borrowing.
According to on-chain analyst Ember, the whale address marked by Arkham as Abraxas Capital has withdrawn a total of 60,000 ETH (about $203.06 million) from Bitfinex in the past 15 hours. These ETH were then deposited into Spark as collateral to mint and borrow 101 million DAI, which was then converted into 101 million USDC on the chain and transferred to Binance.
Yu Jin estimates that this transaction behavior is suspected to be the whale's desire to leverage ETH, or to lend these stablecoins for investment in other currencies.
Later, it was reported that another Abraxas Capital address withdrew 32,000 ETH from Spark and then deposited all of it into Bitfinex.
CoinShares: Digital asset investment products saw a net outflow of $30 million last week
According to the latest weekly data from CoinShares, digital asset investment products have seen outflows for the third consecutive week, with net outflows totaling $30 million last week. Ethereum has seen outflows of $119 million in the past two weeks, its worst performance of the year. In contrast, multi-asset and Bitcoin ETPs saw inflows of $18 million and $10 million, respectively. Trading volume rose 43% month-on-month to $6.2 billion last week, but was still below the year-to-date weekly average of $14.2 billion. Net inflows were recorded in the United States, Brazil, and Australia, while net outflows were recorded in Germany, Hong Kong, Canada, and Switzerland.
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