Crypto Daily Digest - January 29th

DeFi

YouTube Plans to Enter the Crypto Market

Susan Wojcicki, the CEO of YouTube, said that YouTube is ready to enter the crypto market and will introduce Web3 elements into the platform. NFT and DAO are areas of great interest to them, which can strengthen the connection between creators and fans. By entering the field of NFT, YouTube will follow the footsteps of social media such as Twitter and Reddit. Source

Polygon Will Launch a $15 Million Incentive Program for its Native DApp

Polygon announced that its development team is launching a $15 million campaign spread out over the next 6 months for decentralized applications (dApps) building solely on Polygon. The program will support specific liquidity mining (LM) and protocol development efforts and will reward projects based on on-chain metrics. It is important to note that only protocol teams that have never received LM incentives from Polygon can apply. TVL must stay above the specified TWAP for a period of 1 month to get the rewards. Source

Centrifuge Wins Polkadot's Eighth Parallel Chain Auction

Centrifuge wins Polkadot's eighth parallel chain auction. Because Centrifuge was in the lead throughout the Candle Period. Therefore, after the statistics, Centrifuge obtained the qualification for Polkadot's 8th parallel chain slot by locking 5,435,100 $DOT. Polkadot's second round auction is held every two weeks, so the ninth auction will open at 3 a.m. on February 4, 2022. Source

The "0xSifu Leave or Stay" Vote Initiated by the Founder of Wonderland has Ended

Wonderland founder Daniele's "0xsifu question" vote has ended. The approval rate is 87.56%, so 0xsifu will be dismissed. Previously, Wonderland CFO 0xSifu was found to be related to a fraud trading platform. Source

Bribe Protocol Proposes to Add $FRAX as Collateral Assets in Aave

Bribe Protocol proposes to add $FRAX as collateral assets in Aave. Officials said that $FRAX has been widely used by Aave, indicating that Aave has tested and approved $FRAX and its stability. Users borrowed a total of 11.9 million $FRAX through Aave, with available liquidity of 26.6 million. Given the success of $FRAX on Aave, it is recommended that the next step is to enable $FRAX as a collateral asset. Source

Pangolin Joined Avalanche Rush Program Again

Avalanche native DEX Pangolin is once again joining the Avalanche Rush program and will receive $2 million in $AVAX rewards as part of the native app ecosystem growth distribution. $2 million in $AVAX rewards will be combined with two additional rewards, $LUNA and $PNG. These Avalanche Rush rewards will be available on the UST-AVAX and UST-USDC Super Farms, which will be available in the first quarter of 2022. Source

NFT

OpenSea has Compensated 750 $ETH For Users Who Lost NFT

OpenSea has compensated 750 $ETH for users who lost NFT, worth about $1.8 million. Previously, due to "Inactive Lists", these BAYC NFT were sold by hackers at a price far below the market price. At present, OpenSea Technology Department is urgently dealing with this vulnerability. Source

OlympusDAO Plans to Soft-launch the Olympus Odyssey NFT Market on March 3

OlympusDAO plans to soft-launch the Olympus Odyssey NFT market on March 3. Officials say they want NFT to generate revenue for its members and prove that $OHM can be used as a medium of exchange. At the same time, the new platform will be launched on Ethereum. At present, the official is working closely with TreasureDAO to create a multi chain NFT market. Source

The Sandbox Deployed a New Version of the LAND Smart Contract

The Sandbox announced that it has deployed a new LAND smart contract. It said that the new contract was deployed because of a vulnerability in the original LAND smart contract, which has been fixed and has not been exploited by any malicious users. In addition, The Sandbox has prepared a migration smart contract for LAND owners to migrate their land to the new LAND contract; its address is 0x371f4c6fd305c6772Bc6224b795b0B46b6B6f8dB. Users do not need to pay for this migration. The Sandbox official will be responsible for executing the transaction. Source

Fundings

Astar Network Closed $22 Million in Strategic Financing Led by Polychain Capital

Astar Network, a multichain smart contract platform on Polkadot, has closed a $22 million strategic funding round led by Polychain Capital with participation from Alameda Research, Alchemy Ventures, Crypto.com Capital and others. Astar Network is a dApp hub on Polkadot that supports both Ethereum Virtual Machine (EVM) and WebAssembly, allowing developers to deploy existing Solidity smart contracts as well as Polkadot native smart contracts. Astar aims to enable a highly compatible and interoperable multichain smart contract hub by connecting multiple L1 public chains and supporting multiple smart contract virtual machines. Source

Flint Closed $5.1 Million Seed Round Led by Sequoia Capital India

Flint, a global crypto investment app, has raised $5.1 million in seed funding led by Sequoia Capital India and GFC, with participation from Coinbase Ventures, Hashed and others. The raised funds will be used to accelerate the expansion of users, improve the product, strengthen legal and risk functions, etc. Flint claims to offer a simple and stable income opportunity where users can earn up to 13 percent p.a. on their deposited funds. Source

P2E Game Galaxy Blitz Closed $10 Million in Financing

P2E game Galaxy Blitz closed $10 million funding round with participation from Conflux Foundation, IoTex Foundation, Bybit, Gate.io, EnjinStarter, NFTb and others. Designed by the people behind Clash of Clans from Supercell, Galaxy Blitz is a space-themed massively multiplayer online Play-To-Earn combat strategy and NFT game set to be released in Q2 2022. The team also announced an incoming NFT pre-sale and IDO with specific details about these events still unreleased. Source