Crypto Daily Digest - January 4th
Nucypher and Keep Network Officially Complete Merger
Nucypher and Keep Network officially completed a protocol merger on January 2, BST, the first in the history of decentralized protocols. The merger will result in a new Threshold Network and a new protocol token, $T, which holders of $NU and $KEEP will be able to package into $T.
For more information about the Threshold Network.
- tBTC v2 will be the first DApp on Threshold Network.
- the Nucypher team and the Keep Network team are not merging, but are working together on development for the Threshold Network.
- all other Nucypher and Keep Network applications will be migrated to the Threshold Network.
More information about $T.
- Total initial amount: 10 billion.
- $T Token Contract Address: 0xCdF7028ceAB81fA0C6971208e83fa7872994beE5
- Allocation: 4.5 billion to $NU holders, 4.5 billion to $KEEP holders, 1 billion to DAO; in addition, in the design of the token mechanism, $T is an inflationary token, with a current official estimate of 10% annual inflation.
- Uses: stake, governance and payment of network expenses, etc..
- Note: Nucypher officially confirmed that Coinbase will support this merger, but the exact timing and manner is not specified. Source
Cross-Link Bridge O3 Bridge Now Supports Fantom and Optimism Networks
O3 Bridge, a cross-chain bridge, announced that it now supports asset swapping on Fantom and Optimism networks, opening up asset transfers from other public chains to the aforementioned networks. O3 Bridge is an asset cross-chain bridge from O3 Labs, the Web3 interoperability protocol development team, designed to connect various public chains and quickly complete asset swaps. Source
DAO Maker Opens Voting Channel to Qualify for Bancor Whitelist
Product incubation platform Dao Maker announced the opening of a voting channel to obtain Bancor's network whitelist qualification, and users who pledge $BNT can participate in voting support. If Dao Maker wants to be included in Bancor's whitelist, it must meet the requirements of 35% quorum and 66.7% absolute majority. Dao Maker provides a growth technology platform and financing framework for start-ups. It is a platform composed of B2B and B2B2C products and services, including compliance financing, asset management, pluggable DAO creation, and chain analysis. Source
Yearn Finance Newsletter #52
DeFi revenue aggregator Yearn Finance released the 52nd weekly report, which mainly includes the adoption of the new token economic model proposal, and future $YFI holders need to pledge tokens to participate in governance; DCA repurchase pilot program.
The Yearn Finance community approved proposal No. 65 on the new token economic model with 99.68% of the vote. According to the proposal, some $YFI tokens will be repurchased by the Treasury to reward $YFI holders who actively participate in year governance.
In order to strengthen the role of $YFI token in governance, several changes are proposed:
- The holder of $YFI obtains $xYFI by pledging $YFI, and the pledgor will obtain the additional $YFI share repurchased by Yearn Finance. When the price of $YFI increases, the pledgor can earn more income. This means that only pledged $YFI will be eligible to participate in project governance in the future.
- Users will be able to select the lock duration of $YFI. The longer the lock duration, the more rewards they can get. This mechanism reduces the circulating supply of $YFI. Users will also receive $veYFI tokens for voting, which is proportional to the time they lock in.
Contents of DCA repurchase pilot plan:
- The goal is to better understand the way DCAing repurchases internally.
- On the basis of quick voting, the team will allocate eth worth $1 million (249.376559 ETH, US $4010 per ETH) to the repurchase plan and create a 30 day $YFI position at the interest rate of 8.31255197 ETH per day in mean finance.
Yearn Finance is a revenue aggregator that provides aggregation services for DeFi investors. It aims to simplify the expanding DeFi space for investors who are not familiar with technology or interact. Source
The Trader Joe Roadmap - Q1 2022
The one-stop trading platform Trader Joe released the 2022 Q1 roadmap, which mainly includes: the liquidity startup platform Rocket Joe will provide users with more $Joe token utilities and options, promote the fair distribution and expand the token ecosystem; Adjusting the token economy will thoroughly reform the existing token economy design and provide more pledge options to meet the needs of various users; Support NFT and Metaverse culture on avalanche. Trader Joe is a one-stop decentralized trading platform on Avalanche, and $Joe is its governance token. Source
Polygon’s Breakthrough Year: 2021 in Review
Polygon released its 2021 monthly review highlights. In the past year, the low-cost infrastructure of Polygon network has attracted some large projects in the field of DeFi and NFT, including AAVE, Sushiswap, and OpenSea.
The following is a summary of the highlights:
- February: renamed the Matic Network brand Polygon, and its mission is to become the primary expansion solution of Ethereum.
- April: Curve is deployed on Polygon.
- June: integration with OpenSea.
- December: Uniswap logs into Polygon, and all V3 contracts take effect on the Polygon POS Mainnet.
Polygon aims to realize fast, simple and secure off chain transactions, which can not only pay transactions but also realize generalized off chain smart contracts. Source
GroupDAO Airdrops $GDO to Twitter Users
GroupDAO, a decentralized autonomous organization, airdrops $GDO to Twitter users on January 2, aiming to reward users who have made unilateral contributions on Twitter. The most important reference factor for the airdrop is the number of followers a user has, followed by the number of statuses a user has posted, and also the time of registration. The total supply of $GDO is said to be 100 trillion, of which 50% will be airdropped to Twitter users, 20% will be reserved for GroupDAO, 20% will be allocated to the team (linearly unlocked within 60 months, the first time from February 1, 2022), 9% as LP rewards and 1% to Uni Pools. Users need to complete collection by January 31, 2022, after which all remaining $GDO will be permanently locked. Source
OSS DAO Airdrops $OSS to GitHub Users
The Open Source Software (OSS) DAO has announced an airdrop on Aurora for all users who contribute to open source projects by December 31, 2021, giving 60% of the total supply (60 trillion) of $OSS Tokens to GitHub users and key open source project developers. The airdrop will be distributed on a first-come, first-served basis, while supplies last. The total supply of $OSS Token is reportedly 100 trillion, of which 40% will be used to distribute airdrops to GitHub users, 20% will be reserved for open source project developers, 15% will be reserved for OSSDAO, 5% will be added to the liquidity pool, and 20% will be used for staking rewards. The airdrop will end the day before Aurora starts charging Gas fees or on June 1, 2022. Source
Site fees.wtf Plans to Open Token Airdrop This Weekend
Ethereum gas fee statistics website fees.wtf tweeted that it plans to start token airdrop this weekend, and there will be a countdown before the contract is activated to ensure user fairness. Airdrop requires the user's Ethereum address to consume a total gas cost of at least 0.05 eth. Token airdrops are issued in the form of power function, with the acquisition ratio of 1:1 successful transactions, 5:1 failed transactions and 2:1 donation transactions. Source
Perion Closed $8.6 Million in Financing Led by Alameda Research and Framework Ventures
Perion, the NFT lending platform, announced that it had completed financing of $8.6 million. This round of financing was led by Alameda research and Framework Ventures, and participated by Pantera Capital, Gemini, Spartan Group, etc. Perion is a Decentralized Autonomous Organization (DAO), which mainly provides services such as purchasing, leasing and managing NFT assets to help players earn revenue in the game. Source
NFT Investment Firm Metaversal Closed $50 Million Series A Financing
NFT investment company Metaversal announced the completion A round for $50 million. This round of financing is led by Coinfund and Foxhaven Asset Management and DCG, Dapper Labs, Rockaway Blockchain Fund, etc. It is reported that the funds raised will be used for the follow-up development of the company and expand the scale of product portfolio. Headquartered in Miami, Metaversal was established in June 2021 and now has more than 750 NFTs. Source
WOO Network Announced $12 Million Strategic Investment from Binance Labs
WOO Network, a mobility network, has announced a $12 million strategic investment from Binance Labs. Binance Labs is said to be working further with WOO Network on BSC. Previously, WOO Network, a mobility network, closed a $30 million Series A round of funding on November 9 with participation from Three Arrows Capital, Crypto.com Capital, AscendEX, MEXC Global, Distributed Capital, and BitTorrent. Source
MakerDAO to Fund Sustainability Initiatives: Source