1. Sei has opened the airdrop query page, and the airdrop will be available when the mainnet is launched.
According to official news, Sei has now opened an airdrop query page, and users can check the eligibility of airdrops through the official website. Whitelisted users must bridge eligible assets to Sei. The following networks are included: Solana, Ethereum, Arbitrum, Polygon, Binance Smart Chain, and Osmosis. The airdrop will be available when the public mainnet is launched.
2. dYdX Chain public testnet 2 is now online
dYdX announced that dYdX Chain Public Testnet 2 is now live. The new public testnet has 30+ markets, new rewards and vesting (users will receive testnet governance tokens when trading), trading fees, dynamic margin requirements, and more.
3. Compound launches Base network, supporting ETH and cbETH as collateral
According to The Block, DeFi lending platform Compound has been launched on the new Ethereum Layer 2 Base, supporting ETH and cbETH as collateral. SushiSwap chef Jared Gray also confirmed that the V2 version of the decentralized exchange will soon be launched on the Base network. The V3 version has been deployed on the network before.
4. Zimbabwe to launch gold-backed digital token GBDT for retail transactions
The Reserve Bank of Zimbabwe (RBZ) plans to launch a gold-backed digital token (GBDT) for retail transactions, Coinspeaker reported. The RBZ governor revealed plans to launch a nationwide campaign to promote the adoption of the asset. Its launch is part of a series of measures to stabilize the sharp depreciation of the local currency. The bank said: "It is expected that the continued adoption of GBDT will continue to stabilize inflation and exchange rate expectations."
5. Sei Network: SEI tokens have 6 major use cases, and 3% of tokens have been allocated to the first season reward pool
According to the official blog, the public chain Sei Network announced the SEI token economics. The SEI token has 6 major uses: 1. Network fees: pay transaction fees on the Sei blockchain; 2. DPoS validator pledge: SEI holders can choose to delegate their token shares to validators, or pledge SEI to run their own validators to ensure the security of the network; 3. Governance: SEI holders can participate in future protocol governance; 4. Native collateral: SEI can be used as local asset liquidity or collateral for applications built on the Sei blockchain; 5. Fee market: users can pay tips to validators to give priority to their transactions, which can be shared with users who delegate to the validator; 6. Transaction fees: SEI can be used as fees for exchanges built on the Sei blockchain.
Regarding airdrops, a portion of the SEI supply is allocated to airdrops, incentivized testnet rewards, and ongoing initiatives designed to quickly distribute SEI into the hands of users and the community. These SEI airdrops and incentives are designed to reward true, active, and pioneering users in the cryptocurrency space. 3% of the SEI token supply has been allocated to the first reward pool, called "Season 1."
The total amount of tokens and the distribution ratio in this update have not changed compared to the previous announcement. According to the previous news on August 1, the total supply of SEI is 10 billion, of which 20% will be allocated to private investors, 20% will be allocated to the team, 9% will be allocated to the foundation, 48% will be allocated to ecological reserve funds, and 3% will be used as Binance Launchpool rewards.
6. Foreign media: The US SEC's charges against Crowe, a British auditing company that supports cryptocurrency, are cross-border law enforcement
According to BeInCrypto, the U.S. Securities and Exchange Commission (SEC) announced on August 14 that it had accused the British auditing firm Crowe UK LLP of "defects" in its audit of Akazoo Limited, a music streaming company. The report said that the U.S. SEC is expanding its influence beyond the United States and has no direct jurisdiction or enforcement power in the UK. The latest enforcement action has nothing to do with cryptocurrency, but the British company advocates for the wider adoption of digital assets, so this may be another motive. In addition, the company's CEO Nigel Bostock and senior auditor Matthew Stallabrass were also charged by the SEC. According to the announcement, Crowe, its CEO and auditors have agreed to settle the misconduct allegations and pay fines.
7. Asset management company Jacobi will list Bitcoin ETF on Euronext Amsterdam today
According to Decrypt, the Bitcoin ETF "Jacobi FT Wilshire Bitcoin ETF" launched by asset management company Jacobi Asset Management will be listed on the Amsterdam Euronext today. The ETF trading code is BCOIN. This is the first Bitcoin ETF launched in Europe and is regulated by the Guernsey Financial Services Commission (GFSC). Fidelity Digital Assets is responsible for the custody of the ETF, Flow Traders is the market maker, and Jane Street and DRW are authorized participants.
8. Uniswap community is voting on the temperature check of the proposal to deploy V3 on Scroll
The Snapshot page shows that the Uniswap community is conducting a temperature check vote on the proposal to "deploy Uniswap V3 on the Ethereum scaling project Scroll", which will end on August 20.
The proposal states that following the successful deployment of Uniswap on the Scroll testnet, the Scroll team proposed that the Uniswap DAO consider Scroll’s upcoming Uniswap V3 mainnet deployment as a formal deployment; deploying Uniswap on Scroll will increase Uniswap TVL (with the goal of reaching $100 million within two months of deployment) and allow new assets unique to Scroll to be listed on Uniswap.
After a temperature check, the Scroll team will proceed with deploying Uniswap V3 on the Scroll mainnet, followed by submitting a governance proposal and adding the deployed contract addresses, all planned for September.
9. RocketSwap, a Base ecosystem project, suffered an attack, resulting in a loss of approximately $868,000
According to CertiK Alert monitoring, the Base ecosystem project RocketSwap was attacked. The attacker bridged the stolen assets to Ethereum, resulting in a loss of 471 ETH (about US$868,000).
10. Cryptocurrency custodian Prime Trust files for Chapter 11 bankruptcy
Cryptocurrency custodian Prime Trust has filed for bankruptcy under Chapter 11 of the Bankruptcy Code in Delaware after facing a shortfall in customer funds, Cointelegraph reported. The company said in a filing on August 15 that it has 25,000 to 50,000 creditors, estimated liabilities between $100 million and $500 million, and estimated assets worth $50 million to $100 million. “The company believes that the launch of the Chapter 11 case will provide a transparent and value-maximizing process for the benefit of the company’s customers and stakeholders,” the company said in an accompanying press release. Prime Core Technologies Inc., Prime Trust, LLC, Prime IRA LLC, and Prime Digital, LLC are listed as entities filing for Chapter 11 relief.
It is reported that the US Bankruptcy Code contains 13 chapters, among which "Chapter 11" refers to the "reorganization" chapter of the US Bankruptcy Code, and is also one of the chapters most commonly used by companies applying for bankruptcy protection. It is to give the company time to reorganize its business or capital structure under the protection of the court before satisfying the creditors' claims.
In June this year, the Nevada regulator announced that it had applied to take over Prime Trust and freeze all its operations. In July, the court approved the Nevada regulator to take over Prime Trust.
11. Immutable zkEVM testnet is now live, and the mainnet is expected to be released in the fourth quarter
According to the official blog, Web3 gaming platform Immutable announced that its Immutable zkEVM testnet has been officially launched, and existing smart contracts and Solidity codes can be directly migrated to Immutable's zkEVM testnet environment for free. Immutable zkEVM is a game-specific chain that provides EVM compatibility, low cost, large scale, and enterprise-level security. It combines the advantages of zk-rollup technology with Ethereum ecosystem functions, while providing access to the entire Immutable game product suite.
The Immutable zkEVM testnet provides the following features at launch: EVM compatibility, Immutable product compatibility, native L2 faucet of Test-IMX, deposit bridge from Sepolia to Immutable zkEVM, withdrawal bridge from Immutable zkEVM to Sepolia, Immutable Relayer (coming soon). In this testnet, MATIC will be used as the only staking token and Test-IMX will be used as the only native gas token. This testnet will be anchored to Sepolia (not Goerli). For the mainnet, Immutable zkEVM will be anchored to Ethereum mainnet in the future.
Immutable plans to continue improving the testnet experience while pushing for the mainnet release, which is currently scheduled for the fourth quarter of this year. While Immutable zkEVM is currently leveraging Polygon Edge, it plans to deploy Polygon Zero in a future release. In the future, Immutable zkEVM will gradually increase its reliance on proofs of validity.
12. PayPal hires former Intuit executive Alex Chriss as new CEO
According to Bloomberg, PayPal hired Alex Chriss, a former Intuit executive, as its new CEO and president. Chriss previously served as executive vice president and general manager of the small business and self-employed division of Intuit, a provider of financial management solutions. He will succeed current PayPal CEO Daniel Schulman on September 27 and will join the company's board of directors. In February of this year, PayPal announced that Schulman will retire in the coming months and he will remain on the board until the next annual shareholders meeting in May next year. According to previous news, PayPal announced the launch of the US dollar stablecoin PYUSD on Ethereum.
13.Ark Invest and 21Shares have submitted three Bitcoin futures ETF applications to the US SEC
According to Blockworks, Ark Invest and 21Shares have submitted three Bitcoin futures ETF applications to the U.S. Securities and Exchange Commission (SEC) since August 11. The first proposed ETF, called the "Ark 21Shares Active Bitcoin Futures ETF (ARKA)", will invest in cash-settled Bitcoin futures contracts traded on the Chicago Mercantile Exchange (CME), and can also hold U.S. Treasuries, money market instruments and repurchase agreements. The second ETF, called the "Ark 21Shares Active On-Chain Bitcoin Strategy ETF (ARKC)", will invest at least 25% of the amount in Bitcoin futures contracts or ARKA, and the remaining assets are cash and cash equivalents. The last ETF, called the "Ark 21Shares Digital Assets and Blockchain Strategy ETF (ARKD)", will invest in Bitcoin futures contracts or ARKA, as well as stocks of companies in the blockchain, digital assets and fintech industries. According to previous news, the two companies applied for a Bitcoin spot ETF application again in April this year. Last Friday, the SEC postponed its decision on the ARK Invest Bitcoin spot ETF application, and September 2 will be the next deadline for making a decision.
14. Celsius plans to set up a new company owned by creditors and has obtained court permission to conduct a customer vote
According to Bloomberg, bankrupt crypto lending platform Celsius plans to set up a new company owned by creditors and distribute about $2 billion in Bitcoin and Ethereum. The plan has been approved by the bankruptcy court for customer voting. U.S. Bankruptcy Judge Martin Glenn said on Monday that he would allow Celsius to begin sending ballots and other voting materials to account holders, explaining in concise language the company's plan to repay customers. Celsius proposed to start over under the leadership of investment firm Arrington Capital, which is part of the Fahrenheit LLC consortium that won Celsius' assets in a bankruptcy auction earlier this year.
According to court documents, customers will receive partial returns through equity in the new company. The new company will operate Celsius' mining business and take over its institutional loans, private equity and venture capital investments, and $500 million in "liquid cryptocurrency" investments. Celsius attorney Chris Koenig said at the hearing that the company is expected to begin repaying creditors by the end of 2023. Celsius' repayment plan is still opposed by some customers and may also be challenged by other creditors. The court plans to consider approving the plan in October. According to previous news, Celsius revealed that it plans to close its application within 90 days and distribute liquid cryptocurrencies, including Bitcoin and Ethereum, to eligible creditors, with an estimated distribution amount of approximately US$2.03 billion.
