Rhythm Morning News｜A summary of important news from last night and this morning on August 26

PlanB: 6-month boring trading range does not surprise me

BlockBeats news, on August 25, crypto analyst PlanB posted on social media, "6-month boring trading range does not surprise me. Of course, I hope to rise sooner. But I have become very patient: as long as Bitcoin remains within the (wide) flight range (which it does), everything is fine. Therefore, since 2019, my goal has been to reach an average price of approximately US$500,000 during the 2024-2028 halving period, with a range of approximately US$250,000 to US$1 million."

Vitalik: Aave is good, DeFi should be based on the principles of sustainability and decentralization

BlockBeats news, on August 25, Vitalik Buterin posted on X: "Aave is good, I am grateful for its existence. I think DEX is great, I use them every week. I think decentralized stablecoins (such as RAI) are great. I think Polymarket is great."

"I don't think USDC is as great as RAI, but USDC is very convenient and a lot of people use it. For me personally, it is very useful when making international donations, which is much more convenient than banking. We are here to work hard to make the global economy and society more open and free, and people in emerging markets using stablecoins to trade freely is a real use case that can be seen everywhere. USDC on Ethereum is also much better than account-to-account transfers within centralized trading platforms. If we have a lot of people using USDC, it will create a situation where people are more likely to turn to other more decentralized stablecoins. "

"The things I "don't" respect are basically things whose appeal comes from some temporary source that has no sustainability, for example. I'm not excited about the liquidity mining craze in 2021 because it's obvious that it comes from token issuance that is basically temporary. If people tell me "you can get a good yield by parking your tokens here", my question is always "where does the yield come from?". Who is the person on the other side of the transaction, and who pays the yield? If there is a concrete answer to the question, and there is good reason to believe that it will still be the case in 5 years, then I'm absolutely excited about it. "

Vitalik: It is not yet time for Farcaster to integrate Telegram groups, and an end-to-end encrypted communication system must be established first

BlockBeats news, on August 26, Ethereum co-founder Vitalik commented on Paradigm co-founder Matt Huang's opinion on "integrating Telegram groups into the Farcaster ecosystem" and said: "I would rather postpone this action until we establish an end-to-end encrypted communication system.

In addition, I also believe that in order to gain adoption of the entire (Farcaster) ecosystem, it should be in a federal form, that is, people using one client should be able to communicate with others using other client applications."

Telegram responds to CEO arrest: Telegram complies with EU law, audits meet industry standards and continuously improves

BlockBeats news, on August 26, Telegram issued a statement on its X platform official account in response to the CEO's arrest, the statement said:

1. Telegram complies with EU law, including the Digital Services Act - its audits meet industry standards and continuously improve.

2. Telegram CEO Pavel Durov is not hiding, he often travels in Europe.

3. The claim that "a platform or platform owner should be responsible for abuse on the platform" is ridiculous.

4. Nearly one billion users around the world use Telegram as a means of communication and an important source of information.

5. The team is waiting for a prompt resolution to this situation.

Pavel Durov once said that US agents tried to buy off engineers in the hope of better controlling Telegram

BlockBeats news, on August 25, according to the interview video of Tucker Carlson, a well-known American political commentator and journalist, with Telegram CEO Pavel Durov, Durov said in the interview: "Whenever we come to the United States, we will receive too much attention from the FBI and other security agencies. The last time I went to the United States, I brought an engineer who worked at Telegram. Cybersecurity officials or agents tried to secretly hire my engineer behind my back. They would like to know which open source libraries are integrated into Telegram's application and try to convince him to use certain open source tools that act as backdoors. "

"I have personally experienced similar pressure in the United States. Whenever I go to the United States, two FBI agents will greet me at the airport and ask questions. My understanding is that they hope to establish a relationship to better control Telegram. "

This week's unlocking data at a glance: SUI will unlock tokens worth more than $65 million at one time

BlockBeats news, on August 26, according to Token Unlocks data, OP, SUI, DYDX and other projects will usher in a one-time large-scale token unlocking next week, including:

Yield Guild Games will unlock 14.08 million YGG at 10:00 on August 27, worth approximately $6.76 million, accounting for 3.7% of the circulating supply;

SingularityNET will unlock 8.32 million AGIX at 8:00 on August 28, worth approximately $4.28 million, accounting for 1.58% of the circulating supply;

Optimism will unlock 31.34 million OP at 8:00 on August 31, worth approximately $50.46 1.87 million MANTA will be unlocked at 8:00 on August 31, worth approximately $1.51 million, accounting for 0.5% of the circulating supply;

Echelon Prime will unlock 750,000 PRIME at 8:00 on August 31, worth approximately $5.37 million, accounting for 1.68% of the circulating supply;

Manta Network will unlock 1.87 million MANTA at 8:00 on August 31, worth approximately $1.51 million, accounting for 0.5% of the circulating supply;

dydx will unlock 8.33 million DYDX at 8:00 on September 1, worth approximately US$9.75 million, accounting for 3.67% of the circulating supply;

Sui will unlock 64.19 million SUI at 8:00 on September 1, worth approximately US$65.09 million, accounting for 2.47% of the circulating supply;

Zetachain will unlock 53.89 million ZETA at 8:00 on September 1, worth approximately US$33.05 million, accounting for 15.71% of the circulating supply;

Ethena will unlock 14.89 million ENA at 15:00 on September 1, worth approximately US$5.36 million, accounting for 0.82% of the circulating supply.

The total market value of stablecoins increased by 1.03% in the past week.

BlockBeats news, on August 25, according to DefiLlama data, the total market value of stablecoins increased by 1.03% in the past week, now reported at 169.868 billion US dollars.

Among them, the total market value of USDT increased by 0.92%, now reported at 117.96 billion US dollars, with a market share of 69.44%.

Sony L2 blockchain Soneium testnet may be launched on August 28

BlockBeats news, on August 26, Sony Group and Startale announced that the jointly developed Sony L2 blockchain Soneium may launch a testnet on August 28.

Previously, Sony Group launched Ethereum L2 Soneium, which is deeply integrated with Astar zkEVM and is preparing for the release of the testnet.

Jupiter co-founder releases spot product stability update and calls for community feedback

BlockBeats news, on August 26, Jupiter co-founder Meow released Jupiter spot stability update on X and called for community feedback. He said: "A few weeks ago, I released and explained the stability issues of our spot products, including Swap, DCA, LO and VA.

As mentioned above, these issues are mainly due to the major upgrades we made in the first half of the year to cater to the massive growth of tokens and markets, the team's attempts to solve important user experience problems, and the work and technical load of maintaining a set of APIs used by the entire ecosystem.

The project has some important upgrades coming, including a significantly improved version of dynamic slippage and limit orders. Please provide feedback from the community. The team will work hard to respond to every issue and resolve them in the coming weeks. ”

ZKsync: Aave v3 deployment is nearing completion, and technical issues found in final testing have been resolved

BlockBeats news, August 26, according to official news, the deployment of Aave v3 on ZKsync is nearing completion. The team previously discovered a technical problem in the final test and suspended the deployment. This problem has now been resolved. Once the launch date is determined, the team will share the latest situation.

Justin Sun: TRON community has passed the proposal to increase the energy limit, and the network gas fee will be significantly reduced

BlockBeats news, on August 26, Justin Sun said on his social platform that TRON community proposal No. 92 is now effective, raising the energy limit to 120 billion. This means that TRX stakers can conduct more transactions, the network gas fee will be reduced, and the network activity will increase.

Lens Protocol founder: The construction of social networks should focus on resilience

BlockBeats news, on August 25, Aave and Lens Protocol founder Stani Kulechov wrote, "In view of the recent arrest of Telegram CEO Pavel Durov, I have been reflecting on how to build a "resilient approach" that can safeguard various rights, even if these rights (such as freedom of speech and content censorship) may produce conflicting situations.

First, when discussing resilient software, it’s important to move away from the concept of “decentralization.” “Decentralization” is a misleading term with little consensus on its meaning.

Instead, social networks should be built with a focus on resilience. In practice, resilience means minimizing any single point of failure that could disrupt or impact the functionality and integrity of the network. This concept is much easier to understand and measure.

For example, today’s most successful DeFi projects are built this way. They don’t necessarily aim to achieve a certain level of decentralization, but rather to ensure that protocols like Aave are resilient to potential threats and single points of failure from a variety of participants.

A truly resilient social network is one that is extremely difficult to infiltrate or disrupt by any single entity or coalition of entities.

Resilience ensures that participation in a network or protocol is secured at every level. Information flows should be resilient to manipulation or biased censorship. Managers should be protected from undue influence. Content should be resistant to deletion by operators and fully controlled by its authors.

Currently, blockchain technology offers a way to achieve resilience. At its core, blockchain ensures access control (who can write) and secure storage of value (assets). It can determine who can post in the information flow, join the community, review content, serve as a legitimate fact-checker, and how funds are distributed in the network. In addition, it enables community-driven frameworks to select curators or fact-checkers through voting mechanisms.

For resilience to work, accountability and transparency are key. Transparent networks are more resilient, and if privacy is required, guarantees like zero-knowledge proofs (ZK-proofs) can provide verifiability while ensuring transparency. Public blockchains already have these capabilities built in.

I believe that truly resilient social networks will open up new and interesting use cases because developers will no longer need to worry about being shut down.

These foundational principles will guide the development of Lens V3. "

Former Heartland Tri-State Bank CEO Sentenced to More Than 24 Years in Prison for Suspected $47 Million Cryptocurrency Fraud

BlockBeats news, on August 26, former Heartland Tri-State Bank CEO Shan Hanes was sentenced to 293 months in federal prison for suspected $47 million in cryptocurrency fraud. Court documents show that Hanes executed 11 unauthorized wire transfers between May and July 2023, transferring $47.1 million of the bank's funds to a cryptocurrency wallet. The funds were related to a pig-killing scam. The scam eventually led to the collapse of Heartland Tri-State Bank.