1. OpenSea CEO: After the launch of version 2.0 a year ago, the platform will be 'built from scratch' link
OpenSea CEO Devin Finzer tweeted that after the launch of version 2.0 a year ago, the platform will be 'built from scratch'. The new platform will launch in December. TheBlock data shows that OpenSea's overall trading volume is at its lowest level in over three years. Previously, OpenSea laid off half of its staff in 2023.
2. Synthetix restructured SNX token economics and repurchased the Kwenta front end through a significant governance proposal link
Synthetix announced a large-scale 'reboot' plan involving the reconstruction of token economics, the launch of SNX-backed stablecoins, and expansion to Ethereum and Solana blockchains. The recently passed SIP-411 proposal decided to repurchase the Synthetix front end Kwenta and reintegrate it into the Synthetix ecosystem. According to this proposal, KWENTA token holders can exchange their tokens for SNX at a ratio of 1:17, with the exchanged SNX locked for three months starting from November 15, followed by a nine-month linear vesting period, after which KWENTA tokens will be phased out.
3. The four major entities dominate the voting, MakerDAO maintains the Sky brand with 80% support link
After facing opposition from some community members, MakerDAO voted to maintain its recent rebranding. In the vote, nearly 80% of the votes supported using the 'Sky' brand as the protocol brand. According to the voting statistics for Sky, among the approximately 20 voting entities, only four entities accounted for nearly all of the supporting votes, with each entity holding about 20% of the votes, and only one large entity opposing the proposal.
4. Jito Labs' October protocol revenue reached $78.92 million, becoming the leader in MEV protocol revenue link
Jito Labs' October protocol revenue reached $78.92 million, doubling the record of $39.45 million set in May, surpassing Lido and Uniswap to become the leading MEV-focused protocol in revenue ranking. Its dedicated MEV infrastructure and liquid staking token JitoSOL combine staking rewards with MEV earnings, solidifying Solana's position in retail trading and emerging token transactions such as memecoins. The sustained high trading volume on Solana may determine the sustainability of these revenue levels.
5. ZKsync's first governance proposal has started voting, planning to distribute 325 million ZK tokens over 9 months link
ZK Nation announced that ZKsync's first governance proposal TPP-001 (ZKsync Ignite Program) has entered the voting stage, with a standard voting period of 7 days. As of the time of writing, data shows that the current proposal support rate is as high as 97.1%, with Syncswap contributing 26.94% of the votes in favor. According to the proposal, the plan will distribute a total of 325 million ZK tokens over 9 months, with 300 million allocated to users, aimed at establishing a DeFi liquidity center for ZKSync's resilient chain.
6. Ink: undergoing stress testing in preparation for testnet release link
Cryptocurrency exchange Kraken's network Ink tweeted that it is undergoing stress testing in preparation for the official testnet release, with early access to the testnet provided on Discord. Previously, Ink's founder Andrew Koller stated that the Ink testnet is expected to go live within the year, with the official network opening to retail and institutional users in the first quarter of next year.
7. Avalanche Foundation completes the buyback of AVAX tokens held by the Luna Foundation link
The Avalanche Foundation announced it has completed the buyback of 1.97 million AVAX tokens held by the Luna Foundation, valued at approximately $52 million, officially ending its partnership with the collapsed Terra blockchain. This buyback was approved by the bankruptcy court, concluding the Avalanche Foundation's token redemption plan since Terra's failure. The Avalanche Foundation plans to use this buyback fund for community incentives, technical incubators, and ecosystem building, further promoting the ongoing development and innovation of the Avalanche network.
8. HashKey platform token (HSK) will officially launch on HashKey Global link
HashKey platform token (HSK) will officially launch on HashKey Global; HSK/USDT spot trading time is 10:00 (UTC) on November 26, 2024; HSK withdrawal time is 10:00 (UTC) on November 27, 2024; HSK deposit time is 07:00 (UTC+8) on November 7, 2024; HSK is HashKey Group's platform token, to be used for all HashKey businesses, covering compliant exchanges, investment and asset management, tokenization, infrastructure services, and more. Additionally, HSK is the native token and gas token of the L2 public chain HashKey Chain.
9. JPMorgan's blockchain platform has been renamed Kinexys to accelerate the tokenization of physical assets link
JPMorgan has renamed its blockchain platform Onyx to Kinexys to further advance the tokenization of physical assets. The platform aims to achieve multi-chain interoperability and enhance the efficiency of the financial system, having processed over $15 trillion in transactions since 2020. JPMorgan plans to introduce on-chain foreign exchange functionality for Kinexys in early 2025, initially supporting USD and EUR, paving the way for around-the-clock, multi-currency clearing and settlement.
10. Hamster Kombat has lost 260 million players in three months link
Telegram's 'earn-to-play' game Hamster Kombat, which had 300 million users in August, currently has sharply reduced monthly active users to about 41 million, losing over 260 million players. The game's token HMSTR has plummeted 76% from its peak of $0.009993 on September 26, now priced at just $0.002392. Despite Telegram's CEO calling it 'the fastest-growing digital service globally', the rough AI graphics and tedious gameplay failed to retain players. The game frequently delayed airdrops and implemented strict anti-cheat systems, resulting in 2.3 million users being banned and 6.8 billion HMSTR tokens confiscated. Additionally, Hamster Kombat has faced criticism from the governments of Iran and Russia, believing it has a negative impact on society.
