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Review of this week | Magic Eden will launch the token ME; Ethereum Foundation's annual expenditure budget is about US$100 million

BlockBeatsBlockBeats2024/08/25 05:34
By:BlockBeats

Telegram CEO arrested in France, may face 20 years in prison; Ethereum Foundation ETH reserves may be exhausted within 8 years; Fed Chairman sends a strong signal of interest rate cuts; ZKsync Era network revenue drops 90% after airdrop; Japanese giant Sony launches Ethereum Layer 2 network Soneium; Binance Launchpool launches Dogs (DOGS);

BlockBeats will organize the key industry news content of the week (8.19-8.25) in this article, and recommend in-depth articles to help readers better understand the market and learn about industry trends.


Important News Review


Telegram CEO Pavel Durov was arrested by the police in France, involving multiple charges such as fraud, money laundering, and terrorism, and may face 20 years in prison

On August 25, Telegram CEO Pavel Durov was arrested by French police after landing at Le Bourget Airport in northern Paris and detained by agents from the French National Anti-Fraud Office. Sources said that the reason for Pavel Durov's detention was the existence of drug trafficking and child pornography on the Telegram platform. Previously, Telegram refused to cooperate with the police on this. French police also searched Pavel Durov's property. Durov may meet with the investigating judge on Saturday night and then may be charged on Sunday for a number of crimes, including "terrorism, drugs, conspiracy, fraud, money laundering, receiving stolen goods, and child crime content." An investigator from the French National Anti-Fraud Office said: "Pavel Durov will eventually be detained before trial, that's for sure." According to Russia's Sputnik News Agency, Durov could face up to 20 years in prison.


TON issued a statement on the "arrest of Telegram CEO", "asking everyone that the TON community is still strong and fully operational."; Telegram Wallet said it is closely following news about Pavel Durov and that Wallet operations are not affected. Related reading: "Telegram founder arrested, can his open blockchain dream still come true? 》《Real-time update|Telegram founder arrested, may face up to 20 years in prison


Binance Launchpool launches Dogs (DOGS); DOGS airdrop claim period extended again

On August 21, Binance Launchpool launched Dogs (DOGS). Dogs (DOGS) is a Ton memecoin born in the Telegram community. The webpage is expected to be launched within 24 hours before the launch of the new coin pool. Users will be able to stake their BNB and FDUSD in a separate pool to mine DOGS tokens within three days, starting at 2024-08-23 00:00 (UTC). Binance will list DOGS at 12:00 (UTC) on August 26, 2024, and will open DOGS/USDT, DOGS/BNB, DOGS/FDUSD and DOGS/TRY trading pairs. On August 21, the Meme project DOGS decided to adjust the TGE date again. The updated time is: the deadline for claiming to the trading platform and Telegram wallet will be extended to 24:00 on August 23, Beijing time; the service for claiming to non-custodial wallets will be from 16:00 on August 26, Beijing time; TGE and listing will be carried out at 20:00 on August 26, Beijing time.

Related reading: "DOGS airdrop is imminent, detailed explanation of token economics and listing plan"


The Ethereum Foundation transferred 35,000 ETH to the exchange, which attracted attention; it responded that it was part of its fund management activities

On August 24, according to Arkham monitoring, the Ethereum Foundation transferred 35,000 ETH to Kraken in the early hours of the same day, equivalent to US$94.07 million. On the same day, Aya Miyaguchi, executive director of the Ethereum Foundation, said, "This is part of its fund management activities. The Ethereum Foundation has an annual budget of about $100 million, which mainly consists of grants and salaries, and some recipients can only accept fiat currencies. For a long time this year, we were told not to conduct any fund activities because the regulation is complicated and we cannot share plans in advance. From now on, we will sell them step by step in a planned manner."


According to crypto analyst DefiIgnas, the foundation currently holds $845 million worth of ETH, accounting for about 0.25% of the total supply. The Ethereum Foundation allocated $30 million in the fourth quarter of 2023 and $8.9 million in the third quarter. The funds are mainly used for global conferences, online courses, innovative projects, etc. The Ethereum Foundation lacks a comprehensive and transparent report on total expenditures. The latest available report for 2021 shows that the Ethereum Foundation spent a total of $48 million on internal expenses, external grants, and rewards, including $21 million on L1 R&D, $9.7 million on community development (including grants and education), and $5.1 million on internal operations (salaries, legal fees, etc.).


At a rate of $100 million per year, the Ethereum Foundation will exhaust its ETH reserves within 8 years.


Ethereum co-founder Vitalik was "forced" to publicly call for ETH, saying that Ethereum's fundamentals are actually very strong

On August 21, Ethereum co-founder Vitalik Buterin posted on social media that many people always suggested that he should publish less "philosophical thinking" and more "bullish views" on Ethereum. Later, Vitalik Buterin said that this "bullish Ethereum" tweet took only three minutes to interact more than the 11,700-word philosophical content blog post he just released. On August 22, Vitalik Buterin said again, "Ethereum has become stronger: Ethereum's fundamentals are actually very strong at the moment." He said that transaction fees on L2 are less than $0.01; two EVM L2s (Optimism and Arbitrum) have now entered the first phase; second-generation privacy tools are beginning to emerge (such as 0xbowio); the identity/reputation/credential ecosystem has become stronger and is beginning to be used more and more in practice; progress in STARKs has made the prospects for long-term security and decentralization clearer; Staking's decentralization remains stable (the claim that "PoS is more centralized than PoW" has been proven to be completely wrong)


Fed Chairman Powell sent the strongest signal of interest rate cut so far, and the policy shift has been completed

On August 23, according to the Wall Street Journal, Fed Chairman Powell sent the strongest signal of interest rate cut so far, saying that he intends to take action to avoid further weakness in the US labor market. Powell said: "We do not seek or welcome further cooling of labor market conditions. Now is the time to adjust policy. I am more confident that inflation will return to 2%. The upside risks to inflation have weakened, while the downside risks to employment have increased." Powell's attitude this time was far less ambiguous than in the press conference after the last meeting. It is widely expected that the Fed will cut interest rates at the September meeting. Powell's remarks on Friday almost put an end to the Fed's historic anti-inflation action. On the same day, "Federal Reserve mouthpiece" Nick Timiraos posted on social media that today's speech showed that Powell's policy shift has been completed, and Powell showed a comprehensive dovish attitude in his speech.


Magic Eden announces launch of token ME

On August 22, Magic Eden will launch and adopt the ecosystem token ME, which is developed by the ME Foundation. ME tokens will be claimed in the Magic Eden wallet, which is available on both iOS and Android. After claiming, the ME token reward will be deposited in the user's wallet. Related reading: 《Magic Eden finally issues tokens, will it be a big deal? 》


CZ may be released on September 29, may have left prison, but is still in custody

On August 23, according to Decrypt, according to information from the U.S. Bureau of Prisons, CZ is expected to be released on September 29. But some crypto communities seem to have mistakenly and prematurely celebrated the freedom of the crypto entrepreneur. The confusion may be partly due to the fact that CZ was transferred this week from a minimum-security prison in Southern California to RRM Long Beach. This is a residential program that prepares prisoners nearing the end of their sentences to reintegrate into society. From a technical analysis, some Twitter users claim that CZ is out of prison, which is correct. But he is definitely still in the custody of the US government and cannot move freely. By the end of September, CZ should regain his right to move freely and may return to Dubai to reunite with his family.


Binance Labs Announces Investment in Corn

On August 20, Binance Labs announced an investment in Corn. Corn is an Ethereum L2 network dedicated to building a DeFi center for Bitcoin, the first super-yield network built around Bitcoin. Corn launched BTCN, a hybrid tokenized Bitcoin that enhances the use of Bitcoin in DeFi.


Binance launched 7 perpetual contracts this week

On August 19, Binance launched the SYSUSDT perpetual contract with a maximum leverage of 50x. On August 20, Binance launched the BRETTUSDT perpetual contract with a maximum leverage of 50x. On the same day, Binance launched the VOXELUSDT perpetual contract with a maximum leverage of 50x. On August 22, Binance launched the POPCATUSDT and SUNUSDT perpetual contracts with a maximum leverage of 75x. On the same day, Binance launched the ALPACAUSDT perpetual contract with a maximum leverage of 75x. On August 23, Binance launched the VIDT/USDT perpetual contract with a maximum leverage of 75x.


Binance and its founder CZ face new class action lawsuit in Seattle court

On August 21, Bill Hughes, senior legal counsel and director of global regulatory affairs at Consensys, wrote, "Last Friday, Binance and its founder CZ faced a new class action lawsuit in the Seattle federal court. This is a class action lawsuit filed by a top class action lawyer, alleging that consumers were harmed by Binance's money laundering. In short: these plaintiffs and the American consumers they represent lost cryptocurrencies in hacking and other thefts, and these funds were sent to Binance for money laundering, and Binance knew about this and encouraged this profitable business model to a certain extent. The plaintiffs said that Binance played a key role in money laundering, which constituted illegal extortion and violated the RICO law. These plaintiffs' lawyers are well-qualified. They have represented class actions against Facebook's consumer privacy violations, drug manufacturers, and Wells Fargo's fake accounts.


Tron Ecological Meme Platform SunPump Hot, single-day protocol revenue exceeds Pump.fun

On August 12, TRON ecosystem DEX SUN.IO launched SunPump, which will be the first meme coin issuance platform in the ecosystem. Justin Sun frequently posted content about SunPump on social platforms to promote it. This week, the single-day protocol revenue exceeded Pump.fun several times. The SunPump platform has been integrated into DEXTools, and users can use DEXTools to track the newly launched Meme tokens on SunPump; at the same time, DWF Labs announced a partnership with SunPump this week. Related reading: "After SUNDOG's thousand-fold increase, what does Justin Sun think of SunPump and the meme track? "


Aave protocol chain activity surges, doubling from 3 months ago

On August 20, according to IntoTheBlock monitoring, the number of active addresses on the Aave protocol chain surged this month, doubling from 3 months ago. On August 21, according to Defillama data, the Aave protocol loan amount reached US$7.324 billion, which has exceeded the level of March 2022 (US$6.3 billion). Related reading: "Why is Aave worth investing?"


Trump was threatened with assassination again, interrupted reporters' questions and left the rally

On August 23, according to Lianhe Zaobao, a man in Arizona, USA, threatened to kill former President and Republican presidential candidate Trump on social media platforms and was wanted by the police. The man is Ronald Lee Syvrud, 66 years old. Wisconsin has previously issued several outstanding arrest warrants for him. It is reported that Trump participated in his first outdoor campaign event since the assassination attempt on Wednesday, and he spoke behind bulletproof glass. Weapons were found again at the event. Around 4:30 pm Eastern Time, police arrested two men at the rally site. Police handcuffed the two men and one of them was detained. After receiving the assassination threat, Trump interrupted reporters' questions at an outdoor rally in Arizona and said: "It's dangerous for us to stand here and talk, so let's stop talking. They don't want me to stand here, and they don't want you to stand here. Good luck." Then left the scene.


ZKsync Era network revenue dropped 90% after airdrop, with revenue less than $7,000 last Sunday

On August 21, according to data from The Block, Layer 2 scaling solution ZKsync Era plummeted after the airdrop on June 24, with revenue falling to only $6,800 last Sunday, in stark contrast to the highest single-day revenue of $746,000 before the airdrop (a drop of 99.088%). In addition, the airdrop triggered a massive loss of users and liquidity on the network, with daily transaction volume falling from a peak of 1.8 million to only 200,000. The Block said that this situation is not only seen in ZKsync Era, a Layer 2 project. The GML2 index, which tracks Layer 2 tokens, has fallen 66% from its high in March, indicating that the entire industry is facing challenges.


Japanese giant Sony launches Ethereum Layer 2 network Soneium

On August 23, according to Coindesk, Sony Block Solutions Labs, a joint project of Japanese giant Sony Group and Singapore Startale Labs, said on Friday that it will launch a new Layer 2 network called Soneium on the Ethereum blockchain. Soneium is expected to go live on the test network in the next few days. It will use Optimism Rollup technology and be built using the OP Stack of the Optimism blockchain ecosystem. It is reported that the CEO of Startale Labs is Sota Watanabe, who is the director of Sony Block Solutions Labs and co-founder of Astar Network. Related reading: 《SONY Chain officially announced that Sony's own L2 is coming》


The US SEC rejected Cboe's application for Solana spot ETF 19b-4

On August 20, according to The Block, the US SEC rejected two Solana spot ETF 19b-4 applications submitted by Cboe BZX. Therefore, these applications have been withdrawn from the Cboe website.


Pump.fun launches "Stages" live broadcast feature, allowing multiple people to live broadcast and screen share

On August 23, Pump.fun announced the launch of a live broadcast feature called "Stages". This feature allows multiple people to live broadcast, screen share and voice chat at the same time. Here’s how Stages works: The developer starts the livestream first, and then other users can apply to join or be invited on stage. Before joining the livestream, participants need to turn on their microphones, and cameras are optional. Audiences and onstage participants can pin any active livestream participant or screen share. If the developer leaves the livestream, the entire livestream will end. Related reading: "The truth about Pump.fun: average daily active users are 50,000-70,000, and only 3% of accounts make over a thousand dollars in profit", "All major chains have their own "Pump.fun", where is the most profitable place to play?"


Babylon has launched the Bitcoin staking mainnet

On August 22, Babylon has launched the Bitcoin staking mainnet, and users can participate in the first phase of the Babylon Bitcoin staking mainnet. The launch of the Babylon Bitcoin staking mainnet brings a third local use case for Bitcoin assets in addition to value storage and simple payments: staking to protect the PoS network and earn rewards.


"Two Highs": Conversion of criminal proceeds through virtual asset transactions can be identified as "money laundering" judgment criteria

On August 19, the Supreme People's Court and the Supreme People's Procuratorate jointly held a press conference and issued the "Interpretation on Several Issues Concerning the Application of Laws in Handling Criminal Cases of Money Laundering" (hereinafter referred to as the "Interpretation"). The "Interpretation" will come into effect on August 20, 2024. The Interpretation clearly states that if the amount of money laundering is more than 5 million yuan, and there are multiple money laundering behaviors; refuse to cooperate with the recovery of property, resulting in the inability to recover the stolen money and property; cause losses of more than 2.5 million yuan; or cause any other serious consequences, it shall be deemed as "serious circumstances". The Interpretation lists "virtual asset" transactions as one of the ways of money laundering. It is clear that if the proceeds of crime and their benefits are transferred and converted through "virtual asset" transactions and financial asset exchanges, it can be determined as "covering up and concealing the source and nature of the proceeds of crime and their benefits by other means" as stipulated in Article 191, Paragraph 1, Item 5 of the Criminal Law.


China extradited Zhang Yufa, a suspect of a major cryptocurrency pyramid scheme economic crime, with the amount involved exceeding 100 billion yuan

On the evening of August 20, with the strong assistance of relevant Chinese departments, the Chinese Embassy in Thailand and Thai law enforcement agencies, the "Fox Hunting Operation" working group of the Chinese Ministry of Public Security successfully extradited Zhang Yufa, a major economic crime suspect suspected of organizing and leading pyramid scheme activities, from Thailand. This case is the first economic crime suspect extradited from Thailand by China after the China-Thailand Extradition Treaty came into effect in 1999. Since 2012, the MBI Group, headed by the criminal suspect Zhang Yufa, has issued virtual digital currency and required participants to pay fees ranging from 700 yuan to 245,000 yuan to obtain platform membership. It has used high rebates as bait and used the number of members developed and the amount of funds invested as a method of remuneration or a basis for rebates to carry out illegal network pyramid schemes. The group has developed more than 10 million members, and the funds involved in the case exceed 100 billion yuan.


Hot articles this week


《All major chains have their own "Pump.fun", where can I go to make the most money? 》

Recently, the mainstream market has continued to fluctuate, but Memecoin has continued to be popular. Pump.fun's protocol revenue hit a new high on August 13, with cumulative revenue exceeding $100 million. Soon after Sun.pump went online, the market value of multiple Memecoins on the platform quickly exceeded $1 million, the gas on the TRON chain soared, and the price of TRX, which had been silent for a long time, also hit a three-year high. It can be said that Sun.pump almost "single-handedly" brought the entire TRON chain "prosperity again". In addition, Moonshot launched a new issuance mechanism, and Meme activities on the BNB chain continued. Memecoin platforms on various chains are flourishing at the same time. Which one can compete with Pump.fun? Where can users go to play to make money? This article will take you to an overview of the Memecoin issuance platforms on various chains and briefly analyze their competitive advantages.


《Pump.fun Truth: Average Daily Active Users 50,000-70,000, Only 3% of Accounts Earn Over 1,000 USD》

What is the real data on the pump.fun platform? What is the "graduation rate" of tokens? How many tokens can reach a market value of millions or tens of millions of dollars? What is the real profit situation of users? This article will reveal them one by one.


《Black Myth》 Sweeping the Global Game Community, Web3 Games Are Actually Also Blowing the "Domestic Wind"》

On August 20, the domestic 3A masterpiece "Black Myth·Wukong", which millions of players have been looking forward to, was officially launched. As the first truly 3A masterpiece, Black Myth received relatively high scores from foreign media such as IGN in its first battle. The appearance of Black Myth: Wukong has brought about a "domestic trend" in the international game industry. And this trend is also blowing towards the Web3 game field. Taking advantage of the popularity of Black Myth, BlockBeats has counted several "domestic Web3 games" worth paying attention to, including Matr1x Fire, Mahjong Meta, Seraph, MetaCene, etc.


《Exclusive Interview with UniSat Founder: Fractal is Bitcoin's Most Loyal Assistant》

This year, we ushered in the fourth halving of Bitcoin, and also ushered in a major update in the Ordinals ecosystem: the launch of runes. We witnessed the short-lived "Rune Mania" with soaring fees, the "Epic Satoshi Auction" worth 33.3 Bitcoins, "Casey's Seppuku", and countless Bitcoin Layer 2 projects that have sprung up like mushrooms after rain. UniSat has been moving forward with a low-key attitude and has always stood at the center of the Bitcoin ecosystem. Starting with open source wallets and engraving services, UniSat's role positioning has quietly changed in more than a year. How do they view the current Ordinals and Bitcoin ecosystem, and even the future development? What thoughts, persistence and expectations do they have for the development of Fractal and even UniSat itself? With these questions, BlockBeats conducted an exclusive interview with UniSat founder Lorenzo.


《Magic Eden finally issues coins, will it be a big deal?》

This Thursday, the NFT market Magic Eden finally officially announced its Token $ME. There is no doubt that $ME will be the most profitable airdrop that NFT players can expect in recent times. So, what data can allow us to first explore how much the "Magic Eden diamonds" in our hands will be worth? In today's NFT market, what else is worth our expectations for Magic Eden? After reading this article, you may find the answer.


《This session of VC in the currency circle is hell-level difficult, is it better to speculate in the second level than to do the first level? 》

Today, VCs in the cryptocurrency industry are facing multiple difficulties: they cannot find suitable investment projects, and the valuations of the projects they are interested in are extremely high; it is difficult to exit old projects, and the entire secondary market for altcoins is seriously lacking in liquidity. Some investment projects immediately suffer book losses of 50%-90% as soon as they go online; even if they are lucky enough to invest in good projects and extend the token lock-up for many years, everything is unknown at that time... Many VCs in the cryptocurrency industry rely on external LPs to inject capital and need "brand packaging". Even if they are already half dead, they still have to pretend to be alive and well. When the project party cannot obtain liquidity from the secondary market, then VC becomes the exit liquidity. This generation of VCs in the cryptocurrency industry is already on the road to rights protection.


《Experience Fractal Ecosystem Tutorial: The Next Bitcoin Ecosystem Big Explosion》

Fractal Bitcoin has become the hottest project in the current Bitcoin ecosystem, and is also seen by many community friends as one of the biggest explosion points in the next wave of Bitcoin ecosystem. The popularity of Fractal Bitcoin is inseparable from Unisat behind it. As one of the earliest builders of the Bitcoin ecosystem, Unisat has proven its strength over the years. In this article, BlockBeats introduces in detail what Fractal Bitcoin is, the main water channels, and the projects that can be interacted with in advance.


《How to use Twitter's AI robot Grok 2 to help us speculate in coins? 》

The current cryptocurrency circle is obviously inseparable from Twitter. Project owners publish announcements here, and KOLs also express their opinions here. Alpha signals are hidden in these streams of tweets. But these Alpha signals are often not easy to identify. Although people can't do it, AI can. The latest model Grok 2 released by Musk's AI company xAI last week may be the perfect solution to this problem. This article details the opening process and usage tutorial of Grok 2 for readers' reference.


《From the top meme KOL to losing money, why doesn't Ansem work? 》

Last week, Ansem, a well-known trader in the Solana ecosystem, published a tweet, admitting that his recent trading level was extremely poor and he made a series of wrong decisions. He has completely lost his advantage in the current market and even considered cashing out and exiting the market. As a trader regarded by the community as the "Godfather of WIF", Ansem once had thousands of times of profit on WIF, which has a market value of over 1 billion. What has Ansem experienced in the past few months? Why did he lose confidence in trading? BlockBeats counted the meme transactions that Ansem's address actively participated in from February to August 20 this year based on the on-chain data analysis tool GMGN, trying to summarize its trading rules. It should be noted that due to the data format limitations of the Solana chain, the original data may be incomplete, and the analysis results are for reference only.


《Why Aave is worth investing? 》

This article takes an in-depth look at Aave's dominance in the decentralized lending market and its future growth prospects. With the launch of Bitcoin and Ethereum ETFs, Aave is expected to benefit from the continued growth of crypto assets as an emerging asset class. In addition, as the global market demand for stablecoins increases, Aave's revenue and TVL will continue to climb. This article also analyzes Aave's upcoming V4 version and its token economic model upgrade, which will further consolidate its market position and bring more attractive risk-adjusted returns to investors. Through a comprehensive analysis of Aave's current status and potential, this article shows readers the core competitiveness of this leading project and its growth potential in the future.


《Meow talks with YouTube co-founder: Why enter Web3 after 20 years in Silicon Valley?》

Recently, Jupiter co-founder Meow and YouTube co-founder Steve Chen had a conversation around the concept of UGM (user-generated money), and explored in depth how technology has gradually transformed from the initial innovation stage to a service that is popular around the world, and the importance of the community in this process. Steve Chen co-founded YouTube with Chad Hurley in 2005, and helped lead the company to be acquired by Google for $1.65 billion less than a year after the launch of the website. Prior to joining YouTube, Steve was one of the first product engineers at PayPal. He led development efforts and served as an engineering manager on several key projects. During the conversation, Steve said that he and Meow have many mutual friends in Silicon Valley, but they got to know each other because of the meme coin PAJAMAS and its crypto community. Meow is also curious about Steve's experience in joining Web3 as a community member due to his love for meme coins, and believes that the UGC concept in the Web2 era has something in common with the UGM concept in the Web3 era.


《BTC ecological projects start staking, interest-bearing and liquidity release tracks may be new opportunities》

This week, Babylon, a Bitcoin staking protocol, has launched the first phase of the BTC staking mainnet launch, and Bitcoin holders can start locking up BTC for staking. Fractal Bitcoin, a Bitcoin scalable network developed by UniSat, is also scheduled to be officially launched on the mainnet on September 1, attracting a lot of attention. The Bitcoin ecosystem has been active recently, and many users are optimistic that it may usher in another major ecological explosion in the near future. Lao Bai, a partner of ABCDE Investment Research, published his analysis of the development of the Bitcoin ecosystem on X, expressing his optimism about the interest-bearing and liquidity release-related tracks in the Bitcoin ecosystem.


《What does the leaked speech of former Google CEO Schmidt inspire the crypto industry? 》

Eric Schmidt served as CEO of Google for ten years from 2001 to 2011. Recently, he was invited to the Stanford University School of Computer Science conference and gave a speech titled The Age of AI. Since he did not know in advance that the conference was broadcast live, Eric Schmidt's speech can be said to be "letting go", exposing many inside truths of the AI industry. At present, the speech video has been deleted and removed from the shelves, but the full text backup can still be found on Github. In this article, Solv Protocol co-founder Meng Yan interpreted and analyzed Eric Schmidt's speech from the perspective of blockchain development.


《Combing the ecological chain of the currency circle: How can young people break through the siege? 》

The encryption industry is a pyramid, divided into three layers: upper, middle and lower, and each layer is divided into three levels. Want to climb up? It's not that easy. This article provides pertinent and practical suggestions on the ecological chain of the currency circle and how young people should learn and enter the currency circle. (The content of this article comes from the X Space event held by AC Capital on July 30, and is compiled by crypto KOL Alan YW.)


《DeFi has reached a turning point, is now a great time to lay out? 》

This was the focus of discussion during the remarkable crypto market black swan event on August 5. Global markets were shrouded in recession fears, followed by a spectacular plunge, and the cryptocurrency market suffered a severe deleveraging shock. But in this stress test, the DeFi sector, as the backbone of liquidity, did not show serious disconnection or credit risk, but instead showed a stronger ability to withstand pressure than ever before. Does this mean that the turning point of DeFi has arrived? It’s time for us to re-examine this phenomenon.


《Dialogue with MegaETH and Monad Founders: Reshaping the Future of Ethereum》

This article interviewed Monad founder Keone Hon and Mega ETH co-founder Lei Yang to discuss the forefront of EVM. The two founders answered questions such as: Which is faster, more decentralized, and more censorship-resistant, Monad or MegaETH? How did Monad and MegaETH build a large community before launching testnets and mainnets? How do they view the criticism that "developing on EVM is like building a house on quicksand"? Will this affect Solana's value proposition? Etc.


"New CEO of Grayscale takes office. Why did the old crypto company choose a Wall Street helmsman? "

Peter Mintzberg officially took over as CEO of Grayscale, and one of the oldest companies in the cryptocurrency industry handed over power to a Wall Street veteran. Although Grayscale paved the way for the now booming Bitcoin ETF, it also forced him to face larger competitors such as BlackRock and Fidelity. Mintzberg previously worked at Grayscale's competitor for 20 years and has an outstanding resume and achievements in traditional finance. But as an industry outsider, whether he is suitable to lead a crypto company that is trying to reinvent itself remains a question mark. The appointment also raises questions about Grayscale and the future direction of the cryptocurrency industry.


《In-depth Interpretation: Revenue Sustainability of the Three Major Public Chains of Ethereum, Solana and Tron》

With the rapid development of blockchain technology, the revenue sustainability of public chains has become a key indicator for assessing their long-term development potential. This report focuses on the three major public chains in the current market - Ethereum, Solana and Tron. By analyzing their gas fee revenue composition, on-chain economic activities, and the sustainability of user income and expenditure, it deeply explores the revenue model and sustainability of these public chains.


《Spending money ≠ growth, what does Arbitrum's 85 million ecological incentive plan bring? 》

Imagine if you are a business and launch a promotion that promises to get $3 in value for every $1 spent. Moreover, anyone can claim this offer without any conditions. What do you think will happen? The result is that those who need money the most will flock in and quickly consume your funds or inventory until you can no longer maintain this offer. The above scenario is essentially what Arbitrum did, involving $85 million in funds and ultimately resulting in a $60 million loss. Let's take a deeper look at what this scheme was, how it was constructed, and what we can learn from it.


《American Bitcoin Holder Portrait: Tends to be Young and Male, Regardless of Political Inclination》

Recently, The Nakamoto Project released a research report on American Bitcoin holders. The report analyzes the adoption of Bitcoin in the United States from three aspects: demographic characteristics, political inclinations, and moral foundations, aiming to explore other factors that may affect Bitcoin holdings and attitudes in addition to standard demographics. The results show that young men are more likely to hold Bitcoin, and whether or not to hold Bitcoin has nothing to do with political factors.


《What un-coined projects are mentioned in Binance's 2024 first half research report? 》

Recently, Binance released its 2024 first half research report, which not only summarized the industry development in the past six months, but also made predictions about the cryptocurrency market in the second half of the year. This article sorts out the un-coined projects mentioned in the report for your reference. Perhaps the new wealth code is hidden in them.


《How to make your crypto assets pay your rent in a bear market? 》

The crypto market has a characteristic: everyone is talking about how to make money and how much money others have made. But few people talk about how to control drawdowns, how to deal with the stablecoins earned, and how to have a more reasonable cash flow. This article sorts out some APY projects that have been discussed in the community recently, mainly stablecoins and derivative tokens. Among them, the TVL of DeFi projects is more than 50 million, and the corresponding sources of income are explained. The main source of DeFi is the subsidy of the protocol's own tokens. CEX's financial management projects come from the cooperation between CEX and the project. The highest-yielding activity APY is as high as 200%. Although it has ended for the time being, the ideas can still be used as a reference. The projects involved in this article are for reference only and do not constitute investment advice.


《Interpreting Corn: Received investment from Binance Labs, the first Ethereum L2 to use Bitcoin as Gas》

On August 20, a new Ethereum L2 called Corn announced the completion of a $6.7 million seed round of financing, led by Polychain Capital, with participation from Binance Labs, ABCDE, HTX Ventures, etc. This L2 has a significant feature --- using BTC as the Gas of the L2 mainnet through a certain mapping method, while looking for more benefits for BTC in the Ethereum ecosystem. This is also the first time that an infrastructure L2 has used assets mapped by BTC as Gas. An L2 centered around BTC and the maximization of related benefits is about to emerge. What exactly is Corn going to do, and what opportunities are there for early participation and layout? This article provides a detailed interpretation.


《With an annual trading volume of $170 billion, why has Turkey become the world's fourth largest crypto market? 》

In recent years, Turkey's cryptocurrency market has been rapidly globalizing, growing from a regional market to an important part of the global crypto industry. Internationally renowned crypto companies such as Coinbase and KuCoin have entered the Turkish market, reflecting the huge potential and strategic importance of the market. The Turkish Capital Markets Board (CMB) recently updated its regulatory provisions for cryptocurrencies, which has directly led to a surge in the number of companies applying for licenses. From the initial 47 applications, it has rapidly expanded to 76. According to statistics, Turkey's annual cryptocurrency trading volume is approximately $170 billion, making it the world's fourth largest market. This article provides an in-depth analysis of the reasons for the rapid development of the Turkish crypto market.


《a16z Teaching: How can startups build a successful social account from scratch? 》

For most startup founders, establishing a social presence is an important task. The platforms we choose not only help us study our audience, drive organic growth, build our brand, but also effectively spread information - so the need to develop a social media strategy is obvious. However, developing an effective and realistic plan is not easy. This article introduces some time-tested guidelines to help startups build a social presence from scratch, including setting goals, identifying target audiences, and measuring success. In addition, it also involves tools and frameworks that founders can use to understand how to publish content when time is limited.


《Dialogue with Monad and Berachain: Community and Applications Are the Key to Success》

In this podcast, the founders of Monad and Berachain dive into the world of Layer 1 ecosystems. The conversation discusses community building, the complexity of brand development, and the challenges of attracting developers. Keone and Smokey share their ecosystem development strategies, the importance of interoperability, and their vision for the future of decentralized applications. Finally, discuss the role of tokens in project development and the delicate balance between technological innovation and user adoption.


《Developer activity is second only to Ethereum, why is the data on the Base chain exploding? 》

On August 15, the number of intraday transactions processed by the Ethereum Layer2 ecosystem exceeded 13 million, setting a record high. The driving force behind the overall increase in Layer2 ecological transaction data is the Base network. Since late July, the daily transaction volume of the Base network has soared to a peak of more than 4 million several times. Among them, on July 27, the Base network set a record high with 4.432 million intraday transactions. In other words, one-third of the transactions in the Layer2 ecosystem now occur on the Base network. In the past six months, the daily transaction volume on the Base network has surged by 700%. Base has become one of the most active block networks. So, what exactly has contributed to the explosive growth of Base data? This article provides an in-depth analysis of this.


《How effective is the grand ATOM revival plan? 》

Although Cosmos has been embroiled in a governance scandal recently, judging from its dynamics, from June to August, protocols have successively initiated proposals to join the Cosmos Hub consumer chain. That's right, this policy, which has been promoted in Cosmos 2.0 since 2022, has finally begun to make some progress. It just so happens that LSM has been launched for some time since September last year, and we can also take this opportunity to analyze the data and see how much pledge liquidity has been released. ATOM War has also gathered a wave of projects that want to apply for funding, and it seems that it is also going to officially start the first phase of promotion. Gathering the three pillars of ICS, LSM, and ATOM War, plus a pledge rate, this article will take a brief look at the specific effects of the implementation of these policies.


《ArkStream Capital: The future of application chain is promising, and the opportunity for application has arrived》

In 2023 and 2024, more and more dApps announced their transformation into application chains. This article counted the entire application chain track and found that these application chains are mainly concentrated in DeFi, games, social networking and AI. The development of application chains may become a future trend. This is due to the maturity of modular technology, the extensive verification of the general Rollup second-layer network, the increase in RaaS platforms and the improvement of services, as well as the promotion of dApps' competition for public chain block space resources, end-user transaction cost optimization and token economic customization needs.


《DOGS airdrop is coming soon, detailed explanation of token economics and listing plan》

This week, the Ton memecoin Dogs (DOGS) in the Telegram community opened airdrop applications and was simultaneously listed on multiple trading platforms including Binance and Bitget. This article details its token economics and listing plan to help readers understand the project.


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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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