Crypto Guides, Knowledge & Insights

OP Valued at Approximately $37.69 Million and YGG Valued at Approximately $2.17 Million to Unlock Th

Token Unlocks data shows that this week, 7 cryptocurrency projects will conduct token unlocks, with a total value of approximately 43.72 million USD.　　Acala token ACA will unlock 4.66 million tokens (approximately 320,000 USD) on July 25th at 08:00 UTC, accounting for 0.29% of the total supply.　　Yield Guild Games token YGG will unlock 13.02 million tokens (approximately 2.17 million USD) on July 27th at 22:00 UTC, accounting for 1.302% of the total supply.　　SingularityNET token AGIX will unlock 9.97 million tokens (approximately 2.31 million USD) on July 28th at 08:00 UTC, accounting for 0.498% of the total supply.　　Galxe token GAL will unlock 586,670 tokens (approximately 750,000 USD) on July 29th at 20:00 UTC, accounting for 0.29% of the total supply.　　Optimism token OP will unlock 24.16 million tokens (approximately 37.69 million USD) on July 30th at 12:00 UTC, accounting for 0.56% of the total supply.　　　　

2023-07-24Deep Dive

Robert F. Kennedy Jr. Reveals Desire To Back Dollar With Bitcoin And Eliminate Crypto Tax

Presidential candidate Robert F. Kennedy Jr. proposes backing the U.S. dollar with Bitcoin to restore its strength and promote financial stability.　　Kennedys plan includes gradually allocating a percentage of T-bills to be backed by hard currency, such as gold, silver, platinum, or Bitcoin.　　He also aims to eliminate capital gains taxes on BTC earnings, encourage innovation and investment, and protect citizen privacy.　　Democratic presidential candidate Robert F. Kennedy Jr. has put forth a groundbreaking economic proposal that aims to back the U.S. dollar with Bitcoin (BTC).　　During an event organized by the Heal-the-Divide PAC, Kennedy shared his Bitcoin-focused policies that he intends to implement if elected president. His plan includes gradually backing the dollar with Bitcoin and eliminating capital gains taxes on earnings from the cryptocurrency. The goal is to restore the strength of the dollar and promote financial stability in the United States.　　Kennedys proposal centers around a return to a solid currency foundation in America. He outlined his plan to start with a small allocation, perhaps 1% of issued Treasury bills, backed by hard assets such as gold, silver, platinum, or Bitcoin. Depending on the success of this initial phase, he intends to gradually increase the allocation over time.　　“My plan would be to

2023-07-21Deep Dive

Uniswap Founder Regain Control Of Twitter After 5 Hours Hacked

The Uniswap founders Twitter account has regained control after a few hours of being hacked.　　Previously, the account was hacked, and many tweets were posted containing links to phishing websites.　　During the hack, no damage reports were recorded.　　According to the official announcement, the Twitter account of Uniswap founder Hayden Adams has regained control, and at the same time, the related scam tweets have been deleted.　　Hayden Adams expressed gratitude to everyone who assisted in this incident and the details of the incident will be revealed in the future.　　Earlier this morning, it was reported that the Twitter account of Uniswap founder Hayden Adams with more than 254,000 followers, had been hacked and that many of the tweets sent by this account contained links to phishing websites.　　Then a suspicious tweet sent from Adams account urged UniswapX users to check if they were eligible for the donated $UNI token by visiting a website hosted in Russia. That site was registered on the day of the hack, one Twitter user noted.　　Members of Crypto Twitter were quick to identify and warn others of a promoted scam. Therefore, during the hacking process, no damage was recorded from the user.　　Upon receiving the information, Uniswap Labs issued a warning about the

2023-07-21Deep Dive

FTX Sues SBF And Former Executives To Recover $1 Billion They Embezzled

FTX Trading Ltd sued the SBF founder and other former executives on Thursday to recover $1 billion.　　The defendants include Caroline Ellison, Sam Bankman-Fried (SBF), Gary Wang, and Nishad Singh.　　The defendants embezzled money to buy luxury apartments, political donations, and speculative investments and carried out one of the largest financial frauds in history.　　According to Reuters, FTX Trading Ltd sued the SBF founder and other former executives on Thursday, seeking to recover more than $1 billion they allegedly embezzled before FTXs bankruptcy.　　Defendants in the lawsuit filed in Delaware bankruptcy court include former CEO of hedge fund Alameda Research Caroline Ellison, former FTX chief technical officer Gary Wang, and former FTX chief technical officer Nishad Singh. These are all key names and were an effective arm of SBF before the second-largest cryptocurrency empire collapsed.　　This exchange said the defendants continued to embezzle funds to purchase luxury apartments, political donations, and speculative investments and conduct “one of the largest financial frauds in history.”,　　FTX said the fraudulent transfers occurred between February 2020 and November 2022, when it filed for Chapter 11 bankruptcy protection.　　These transfers may be reversed or “avoided” under US bankruptcy or Delaware law. US prosecutors say SBF was the mastermind behind a scam that

2023-07-21Deep Dive

The Wall Street Journal: An Investor Group Plans to Acquire CoinDesk for Approximately $125 Million,

According to sources cited by The Wall Street Journal, an investor group led by blockchain investors Matthew Roszak and Peter Vesenes is close to acquiring the cryptocurrency media platform CoinDesk for approximately $125 million. The deal is in its final negotiation stage.　　CoinDesk is currently owned by Digital Currency Group (DCG), which acquired CoinDesk in 2016. In January of this year, CoinDesks CEO, Kevin Worth, mentioned that the company may seek full or partial sale as it explores funding options for its future growth. Over the past few months, CoinDesk has received “many inquiries about potential investments.” Any sale would likely strengthen DCGs financial position as the company aims to rescue its Genesis unit from bankruptcy.　　Earlier this month, Digital Currency Group (DCG) was sued by Gemini, the largest creditor of Genesis, for failing to reach an agreement on the restructuring plan for Genesis. The two companies were unable to come to a consensus regarding the terms of the reorganization agreement.　　

2023-07-21Deep Dive

AAVE Community Launches Harmony Hack Attack, Joint Recovery Plan for Aave and Harmony

The Aave governance page shows that a joint recovery plan has been proposed by users for Aave and Harmony to compensate for the loss of user funds on AAVE after the Harmony blockchain suffered a hack attack. The core of this recovery plan involves setting up a Recovery Fund, with both Harmony and Aave contributing 20% of the total necessary funds for reimbursement. This will enable affected users to immediately recover 20% of their balances before the hack attack, providing some immediate relief and laying the foundation for further recovery efforts. Aaves contribution will include liquidating a portion of their current holdings of depreciated assets in the Harmony DAO treasury, which includes approximately 2 million aONE and 700 aLINK tokens. The remaining contributions from both parties may come from their respective reserves or other funding sources.　　The proposal also introduces the Decaying Oracle Mechanism proposed by service provider BGD, which will start with a recovery rate of 20% and gradually decrease in a depreciating manner to liquidate illiquid assets as early as possible. If there are any remaining bad debts, this debt will be shared equally between Harmony and Aave. The recovery process is expected to take around four years.　　

2023-07-21Deep Dive

Trait Sniper to Conduct Large-scale Influence-based Airdrop for Twitter Users on August 1st

Trait Sniper, the NFT rarity ranking tool, announced in a tweet that todays airdrop will be postponed to August 1st, when Twitter users (no need for blue subscription) can claim corresponding TS tokens on the Trait Sniper website based on their Twitter influence. The airdrop is conducted on the BNB Chain and has no pre-sale. Additionally, early adopters and strategic partners will receive extra airdrop rewards.　　According to the official whitepaper, the total supply of TS tokens is 1 trillion. A portion of the supply will be used for the large-scale airdrop, while another portion will be allocated to create initial liquidity for DEX. The initial price of $TS is set at $0.000001, resulting in a market capitalization of just $1 million.　　According to Similarweb, the website traffic for Trait Sniper has been consistently decreasing over the past year, with an average of approximately 159,000 visitors per month.　　

2023-07-21Deep Dive

Polygon Introduces New Governance Model: "Ecosystem Council"

According to The Blocks report, Polygon plans to completely overhaul its governance framework in the Polygon 2.0 roadmap to achieve a more decentralized control. This includes the launch of an “Ecosystem Council” for smart contract upgrades and the introduction of a two-stage community treasury to fund ecosystem projects.　　The Polygon team stated that the new governance model will be built on “Three Pillars of Governance,” focusing on core protocol governance, smart contract governance, and community treasury governance. Other key features include expanding the Polygon Improvement Proposal (PIP) framework, introducing the “Ecosystem Council” for system smart contract upgrades, and implementing a two-stage community treasury governance to fund promising ecosystem projects.　　

2023-07-20Deep Dive

MakerDAO Smart Burn Engine Activated, Repurchasing Approximately $5,000 of MKR Every 27 Minutes

On July 19th, MakerDAOs Smart Burn Engine was activated in the early hours of the day. The current treasury surplus amounts to $69.2 million, out of which more than $50 million (approximately $19.2 million) will be used for MKR repurchases and added to Uniswap V2 as LP (Liquidity Provider) with DAI. On-chain data shows that the current average time between repurchases is approximately 27 minutes, with an average repurchase amount of around $5,000.　　On July 17th, MakerDAOs community voted in favor of the “Smart Burn Engine and Initial Parameters Introduction” proposal, which is set to be executed after July 19th, 2023, 3:44 AM Beijing time. The Smart Burn Engine is a novel smart contract system designed to distribute surplus Dai from the Maker Surplus Buffer, which was previously not utilized as an emergency reserve. Unlike previous burning designs, the MKR tokens will accumulate in the form of Uniswap V2 LP tokens rather than being acquired and burned. As per the proposal, the Dai Savings Rate (DSR) will also be reduced from 3.49% to 3.19%, with simultaneous reductions and reductions in the liquidation ratio (mat) and stability fees for each pool.　　

2023-07-20Deep Dive

Gitcoin to Launch New Donation Campaign from August 15th to August 29th

Gitcoin announced the opening of a new donation campaign, Gitcoin Grants 18, from August 15th to August 29th. The applications will be open starting from August 1st.　　Gitcoin is a blockchain-based developer community and crowdfunding platform that focuses on promoting the development and sustainability of open-source software. Its main goal is to incentivize developers to contribute to open-source projects and provide them with financial support, thereby driving innovation and growth in the open-source ecosystem.　　In past Gitcoin Grants campaigns, projects like $OP, $GTC, $MASK, $RSS3, $ENS, among others, have distributed airdrops to donors, offering substantial returns to contributors. While it cannot be guaranteed that every project will distribute airdrops to donors, it might still be worth considering supporting projects after careful evaluation.　　

2023-07-20Deep Dive

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