Crypto Daily Digest - January 13th
ParagonsDAO Published the Distribution Info of Governance Token $PDT
ParagonsDAO, a GameFi community, published the distribution info of governance token $PDT. Officials said it would open a fair launch at 16:00 UTC on January 14. It is reported that the initial supply of tokens is 125 million, and the fixed issue price of $PDT will be $0.34. Token allocation rules: 23% for Founders (2 year vesting), 1.5% for Operational Team (1 year vesting), 67% for Private Sale (immediate vesting) at $0.34, 2.5% for Asset Generation Event, 2.5% for Uniswap V3 Liquidity and 3.5% for Treasury Allocation. ParagonsDAO, formerly known as ParallelDAO, is a community of investors, gamers, collectors and cryptocurrency enthusiasts. Source
Yearn Finance Newsletter #53
DeFi yield aggregator Yearn Finance released its 53rd weekly report with the following updates.
- Registered an iteration of yAcademyDAO (a community-driven approach to blockchain security).
- Having secured an additional $1 million in funding from the Fantom Foundation.
- The addition of two new tools, the content aggregator, and the vault encyclopedia.
- Improved user experience and network switching speed.
Yearn Finance is an aggregated yield aggregator for DeFi investors, designed to simplify the expanding DeFi space for investors unfamiliar with technology or conducting interactions. Source
Set Protocol is Now Live on Optimism
Set Protocol, the DeFi protocol, is now live on Optimism. Officially, one of Set Protocol's goals is to ensure that asset managers are unlocked to create structured products in the early stages of the network ecosystem so that users can best capture and leverage any local assets, schemes or liquidity incentives that may arise. Set Protocol is dedicated to creating a one-stop infrastructure service for fully collateralized, convertible and combinable token abstraction with smart contracts. Source
Coinbase Listed $INV, $LQTY, $NCT and $PRO
Coinbase went live and opened for trading on January 13 at 10:00 BST with $INV, $LQTY, $NCT and $PRO. Inverse Finance is a decentralized platform for lending and creating synthetic assets. $INV is used as its token to manage Inverse Finance products and votes. $Liquity ($LQTY) is a decentralized lending platform for zero-interest loans using ETH as collateral. Loans are paid through the stablecoin $LUSD, and holders can place bets on their tokens to earn a portion of the fees incurred at the start and end of the loan. PolySwarm is a community and network for detecting malware, and $NCT is its native token that will be distributed to users who provide relevant cybersecurity data. Propy is an international real estate trading platform. Its token $PRO is used to pay for platform fees, such as modifying and creating ownership and deed contracts. Source
CowSwap Renamed to CoW Protocol
DEX CowSwap has announced the completion of its rebranding and has now separated from its original Gnosis Protocol and rebranded as CoW Protocol, reportedly renaming the underlying protocol to make it more in line with its brand, set new goals, and have momentum to keep the user base growing. CowSwap is to become the go-to protocol & meta-dex aggregator for users & smart contracts that want to trade without having to worry about gas prices or losing money, on CoW Protocol every user is protected and receives best prices. Source
EPNS Went Live on Ethereum Mainnet
EPNS, a decentralized communication protocol, announced that it is live on Ethereum mainnet and users can currently connect to use it through the official website. The added functionality is said to be similar to media companies issuing breaking news alerts, or the DeFi project allowing users to automatically receive notifications when their loans are nearing liquidation. Developers follow the guided steps to set up the channel, create notifications and post the channel to the main network for those who wish to receive notifications. Source
Coinbase is Purchasing Derivatives Exchange FairX
Coinbase announced it is purchasing derivatives exchange FairX, a designated contract marketplace (DCM) registered with the Commodity Futures Trading Commission (CFTC), meaning it can offer futures products in the U.S. The exchange was launched in May 2021 after receiving regulatory approval in late 2020. With this acquisition, Coinbase plans to first bring regulated crypto derivatives to market through FairX's existing partner ecosystem, and will later leverage FairX's infrastructure to offer crypto derivatives to all Coinbase customers in the United States. Source
Vybe Network Closed $2.5 Million Seed Round Led by Alameda Research and others
Vybe Network, a data infrastructure solution, announced the closing of a $2.5 million seed round of funding co-led by Lemniscap, Alameda Research and Sino Global Capital, with participation from Inscribed, SVC, Zokyo and others. The funds raised will reportedly be used to scale the team, facilitate the development of its infrastructure and fund management costs associated with the data network. Vybe Network serves as a data infrastructure solution that enables the Solana community to query, index and exchange on-chain data to build Web 3.0 DApps and analytics. Source
Fan Controlled Football Closed $40 Million Series A Funding Round Led by Animoca Brands and Others
Fan Controlled Football (FCF), an alternative professional sports league, has closed a $40 million Series A round of funding led by Animoca Brands and Delphi Digital to expand the league to eight teams, two of which are part of the NFT program Bored Ape Yacht Club and Gutter Cat Gang. In addition, fans will have the opportunity to purchase FCF's NFTs, and its NFT holders will reportedly be eligible to participate in league governance. Source
Web3Auth Closed $13 Million Series A Funding Round Led by Sequoia Capital India
Web3 application Web3Auth (formerly known as Torus) closed a $13 million Series A round led by Sequoia Capital India with participation from Union Square Ventures, Multicoin Capital, FTX and others. Web3Auth, an unmanaged key infrastructure solution for web3 applications and wallets, hopes to solve these problems by leveraging the social accounts and devices that mainstream users already have, enabling them to manage their keys intuitively. Source