Week in Review

1. Uniswap launches Android beta wallet.

🎉Comment: Wallets are the entrance to Web3 traffic, and all project parties have fully realized this recently. Exchanges and various applications use themselves as traffic entry points and integrate wallet entrances, such as Ouyi. Telegram also uses application users as an entry point to support its own ecosystem, and will launch a custodial wallet in November. On the other hand, old-fashioned wallets such as Little Fox are also expanding new functions, adding some on-chain applications directly to the wallet homepage to expand application exposure, but unfortunately the effect is not good. Uniswap is obviously aware of this, and recently there are various new account abstraction wallets that are raising funds. Obviously, institutions have realized the importance of the wallet track and the fierce competition.

2. The US CFTC sued Voyager co-founder for fraud.

🎉Comment: VGX's situation is obviously much more optimistic than FTX. This week, the FTC accused Voyager and former founder Stephen Ehrlich of violating the FTC Act and the Gramm-Leach-Bliley Act. Subsequently, the FTC and Voyager Digital quickly reached a settlement and agreed to suspend a $1.65 billion judgment, which will be returned to creditors as residual assets. Then the CTFC sued Voyager's co-founder for fraud, but then the founder said that he was just a scapegoat. VGX has reached a settlement with the FTC, and its assets are temporarily unsaleable and directly returned to consumers. The road to restart may be one step further.

3. Alon Muroch, the Israeli founder of SSV Network, said he had been drafted into the army.

🎉Comment: An important event this week, the founder of SSV joined the army. The Israeli-Palestinian conflict was a hot topic this week. Many people were worried that the founder of SSV would die in the war, which would affect the development of the project, and there were indeed a lot of panic selling on the day of the news. But in fact, the main force of SSV has long been not the project itself, and the SSV team can operate normally even if the founder leaves, so there is no need to worry. The world is already in chaos, wars are constant, and in the end it is civilians who fall in the pool of blood. I still hope that world peace will come soon.

4. Stars Arena: Approximately 90% of lost funds have been recovered.

🎉Comment: This is one of the dramatic events this week. The project started out so well but ended up in a rug. It escaped the panic of the first contract hack of 2000u but failed to escape the second wave of fomo called by Levi. Even if some funds have been recovered now, it is impossible to reproduce the highest glory of the project. In addition, new imitation platforms are constantly appearing, which is itself diverting traffic to SA. However, from another perspective, it also shows that people don’t care whether there are imitation platforms or not. For example, a KOL may have an account on friend.tech and SA. In this way, the KOL can generate income, and the early players will call for orders and then take over. Because imitation platforms continue to appear, it is not easy for one person to operate X and another platform well. Operating multiple platforms is not normal in itself. The project eventually becomes a fast-running game, and users will eventually return to the information source X.

5. DappRadar report: Web3 game projects attracted $600 million in investment in Q3 2023.

🎉Comment: Bigtime went online this week, attracting the attention of the crypto community to blockchain games. It is true that compared to public chains, blockchain games and metaverse projects have a wealth-creating effect and are very attractive. Compared with other blockchain games that have appeared before, bigtime has successfully blocked many brushes with its 3A masterpieces, and the slightly higher threshold prevents studios from pouring in on a large scale. Even if you have to hire people to brush, with equipment, people still can't get 3D dizzy, and it is indeed good at preventing plug-ins. In addition, in terms of coin prices, early players have very few coins, and most of the coins are in the hands of market makers. The project party can easily control the market by controlling the progress of game users' KYC. And in recent days, the rules have been changed, the explosion rate has been changed, etc., perhaps the time spent on the exchange during the game is far more than the game.