Crypto Daily Digest - January 18th
Crypto.com Lost about $15M with at Least 4.6K ETHs
Security agency PeckShield tweeted that some Crypto.com accounts were suspected of being hacked, losing $15 million and at least 4.6K ETH. Half of those are currently being cleaned via TornadoCash. On January 17, Crypto.com tweeted that a few users had reported suspicious activity on their accounts, and the team then launched an investigation and suspended withdrawals. In the early morning of the 18th, Crypto.com resumed withdrawal services and said that the funds were safe. Source
Bribe Proposes to Add $MIM on Aave
Bribe Protocol, the DeFi governance platform, has submitted an Aave Improvement Proposal (AIP) to add $MIM as a new asset. The AIP seeks to onboard new retail users to the platform while expanding options for stablecoin collateral and borrowing. The participation methods are as follows,
- Aave Governance Participants: Holders of AAVE and stkAAVE can deposit their tokens in the Bribe pool to earn rewards, while the Bribe pool’s voting power is used to support or reject the AIP.
- $MIM Supporters: The Bribe Protocol offers $MIM supporters the option to bid on the use of the Aave Bribe pool (and the voting rights). Users can support the proposal with their voting rights after a successful bid.
Bribe creates DAO infrastructure tooling to incentivize protocol participation. Depositors stake their governance tokens in the Bribe pool to earn income. Bidders borrow the staked votes to support or reject governance proposals. Previously, the platform closed a $4 million seed round led by Spartan Group with participation from Dragonfly and Rarestone Capital, among others. Source
Socean Finance Plans to Launch Governance Token $SOCN
Solana-based decentralized algorithmic staking protocol Socean Finance will launch its governance token $SOCN. $SOCN has a total supply of $1 billion, of which 16% is for fair sale. Token holders are entitled to share in the profits of the agreement through its Rising Tide mechanism, and have the right to propose and vote on decisions. Currently, 2.5% of the total supply has been unlocked for the core team to participate in governance and will not be sold for one year.
The fair sale is divided into two parts.
- Presale: 8% of the total supply will be reserved for early supporters and community contributors. These users will receive a "golden ticket" and will be able to purchase it at a single price of $0.06 (the same price that protocol's investors receive).
- Capped Auction: 8% of the total supply will be auctioned off for anyone to purchase, subject to a maximum price of $0.30.
Previously, Socean Finance closed a $5.75 million funding round led by Dragonfly Capital, with participation from Defiance Capital, Jump Capital, Solana Ventures and others. Source
The Sandbox Plans to Distribute New Year's Airdrops to Landholders
The Sandbox, a Metaverse platform, plans to distribute new year airdrops to landholders later this month. Sandbox Team took a snapshot at 8:00 a.m. Beijing time on December 20, 2021, users with land owned will be eligible for rewards. The number of $SAND depends on the time when the land purchased. The sandbox is a community driven Metaverse platform, and creators can get benefits from pixel assets and games on the blockchain. Source
Bifrost Launched $RMRK and Opened a Cross-chain Channel Between Bifrost and Statemine
On January 17, Kusama referendum proposal #165 , which successfully opened a cross-chain channel between Bifrost and Statemine has passed. It is reported that the Bifrost referendum then passed the Statemine asset $RMRK cross-chain functionality with a measured cross-chain fee of only $0.007. And the cross-chain operation can be completed within 1 minute. Bifrost is a DeFi protocol on Polkadot that aims to be the infrastructure for providing liquidity to staked assets. Source
Tracer is Adding $FRAX Cleared Market to Its Perpetual Pools
Tracer tweeted that it is preparing to add $FRAX cleared market to its Perpetual Pools. Currently, Tracer has 5 pairs in its perpetual pool: $BTC/$USD, $ETH/$USD, $TOKE/$USD, $LINK/$USD, and $EUR/$USD. Tracer is an open source smart contract protocol built on Ethereum mainnet and Aribitrum, designed for financial derivatives. Source
Beta Finance will Go Live on Avalanche
Beta Finance, a cryptocurrency derivatives marketplace, will go live on Avalanche on January 19 at 2 PM UTC. $WETH.e, $WBTC.e, and $AVAX markets will be the first round to launch. Users can deposit their existing assets in any of the Beta Finance cryptocurrency markets on Avalanche, and receive additional returns from loan rates, with liquidity mining rewards for greater capital efficiency on existing assets. Beta Finance is a marketplace focused on cryptocurrency derivatives where users can borrow and short crypto assets. Source
Polkastarter is Integrating IDO Functionality to Avalanche
IDO platform Polkastarter is currently integrating IDO functionality to Avalanche. The integration is said to be primarily to make it easier for users to get high-quality IDOs and save the required network fees. Polkastarter, the IDO platform on Polkadot, has previously integrated this functionality into Celo. Source
Apricot Finance Updates Liquidity Mining Reward Rules
Solana ecosystem lending platform, Apricot Finance updated platform liquidity mining architecture and $APT utility implementation. The overall liquidity mining emission is 100M $APT per year (10% of total supply) and extends the bonus claiming period for another week, which will be implemented starting January 24. Users who want to receive the full liquidity mining bonus will need to guarantee that 0.1% of their net deposit is $APT, otherwise the bonus is halved by 50%. This rule will be implemented on January 31. Source