Crypto Daily Digest - November 10th

TI Research

Neon Labs, developer of Ethereum virtual machine on Solana, raised $40m. Jump Capital led the round, with Three Arrows Capital, Solana Capital. Aave's founder Stani Kulechov announced the upcoming deployment of Aave to the Solana and revealed that the V3 release may prioritize the deployment of Layer 2, but this will be subject to a governance vote. ENS | OlmpusDAO | O3swap | DeHorizon | Rct.ai | WOO

DeFi

Aave to be deployed on Solana

Stani Kulechov, CEO of the decentralized lending protocol Aave, announced the upcoming deployment of Aave on the Solana chain and revealed that the V3 release may prioritize the deployment of Layer 2, but this will be subject to a governance vote. Source

Ethereum Name Service Hits $5.4b Diluted Valuation After ENS Airdrop

Crypto domain tool Ethereum Name Service may have only just launched its native ENS governance token on Monday, but already the tokens have hit a fully diluted market capitalization of $5.4b, according to crypto data aggregator CoinGecko. $ENS has a maximum supply of 100,000,000 tokens, of which only a tenth are currently in circulation. Source

Layer2 Bridge Across Protocol Goes Alive

Across is a L2 to L1 bridge supporting Arbitrum and Optimism (in the future). On Nov 8th, it announced that the mainnet went live. As of today it is possible to bridge USDC, ETH, and UMA from Arbitrum back to L1 Ethereum. The bridging function works by offering incentives for relayers to offer short-term loans to users on L1, which are repaid after two hours from a liquidity pool on L1. This pool is refilled when the funds arrive from L2 transactions. These transactions are insured by UMA’s Optimistic Oracle. Source

Olympus Pro Is Expending to Avalanche

OlympusDAO is a DAO which aims to provide users with a non-pegged stablecoin (OHM). The coin is not backed by USD but rather relies on the DAO treasury. Olympus Pro is the bond market of it. Now the protocol states it plans to expend the bond market to Avalanche. Source

Growth DeFi Is Expending to Avalanche

Growth DeFi is a multichain DeFi ecosystem that combines products such as its overcollateralized stablecoin (MOR) and yield aggregator (WHEAT). It enables users to utilize interest-bearing assets to borrower stablecoins (MOR). As disclosed, the protocol will be launched on Avalanche in the coming weeks. Source

O3 Swap Will Support OKExChain

O3 Swap will support OKExChain at 4:00 AM UTC on November 22nd, 2021. Meanwhile, Ice Age Mining on OEC and a new cross-chain pool will be launched in the O3 Vault and O3 Hub respectively. Source

$PREMIA Liquidity Mining via Bonding Is Now Available on Olympus Pro

Premia, an American options on-chain exchange, announced the issuance of PREMIA-ETH SLP "bonds" on Olympus DAO to provide liquidity for its LP tokens and pay dividends in $PREMIA tokens. At present, the stakers involved in liquidity mining activities have purchased approximately $10k of PREMIA-ETH SLP "bonds" , but the return of this "bonds" is relatively poor (-6.90%). Source

NFT / GameFi

NFT and tokenized communities governance tool Squads v1 went live on Solana mainnet.

Squads provides a simple and user-friendly interface to dApps. It also allows users to initiate proposals to vote on-chain and NFT-based governance (1 NFT = 1 vote). Confirmed DAOs to be onboarded in the near future include: Monky DAO, thugDAO, JungleDAO, gmootDAO, Playground DAO, SkeledAO, DAG, Munk NFT DAO. Source

Yield Guild Games Acquires Exclusive In-Game Assets in the DeHorizon Metaverse

YGG has announced on Nov 9th that they have made a purchase of assets worth $91,000 in DeHorizon games that include exclusive weapons, equipment, a Dragon racing team, a DeMeta Pass ID, and 40 monsters called JuJus, which will also be specially customized to represent YGG. The long-term vision of DeHorizon metaverse is to create a carnival filled with different kinds of experiences through gameplay open for all the Metaverse Humans across multiple chains, empowering everyone to enjoy this virtual world. Built on Ethereum — EVM compatible chains, DeHorizon games will let players explore the open world of epic battles, minting NFT monsters, mining resources, embarking on heroic quests, taming wild creatures. Source

Trading

$CITY Became the 24th Project on Binance Launchpool

Binance announced the 24th project on Binance Launchpool - Manchester City Fan Token (CITY), a fan token for Manchester City Football Club on the Chiliz Chain. Source

Fundings

Crypto Exchange WOO Network Closes $30m Series A

Crypto exchange WOO Network closed a $30 million Series A round from various investors, including Three Arrows Capital, PSP Soteria Ventures, Gate Ventures, QCP Capital, Crypto.com Capital, the Avalanche Asia Star Fund (AVATAR), AscendEX, AntAlpha, MEXC Global, LBank, Fenbushi Capital, BitMart, 3Commas Capital, TokenInsight Research and ViaBTC Capital also participated in the round. Woo will use the fund to recruit more people and also plan to open offices overseas to expand the global market. Woo will also explore more in DeFi space and provide its users with more and better products. Source

Rct.AI Closing Series A-3 Funding with $10m Raising

P2E game Rct AI has raised over $10m in the Series A-3 funding. Yuanyuzhou Ventures, Springwind Ventures, Galaxy Interactive, Bonfire Union, Everest Ventures Group, FBG Capital, Folius Ventures, HashKey Capital, Hash Global, Mask Network, SNZ are among Investors. Source

Neon Labs Raises $40m to Bring EVM Functionality to Solana

Neon Labs, developer of Ethereum virtual machine on Solana, raised $40m. Jump Capital led the round, with Three Arrows Capital, Solana Capital, Rockaway Blockchain Fund, Ethereal Ventures, IDEO CoLab Ventures, and others participating. Neon Labs raised the funds with a token sale, and the proceeds “will be used to rapidly scale the Neon Labs team in categories spanning research, core development, marketing and business development,” as well as on a grants program, according to a Neon Labs press release. Neon Labs is the developer of Neon, a software environment on Solana that lets developers build applications using the Ethereum virtual machine (EVM). With that technology, developers can write smart contracts in familiar coding languages such as Solidity and Vyper, use tools like wallet interface MetaMask and easily deploy forks of existing protocols like Aave – all while benefiting from Solana’s ability to process transactions quickly and from its lower fees. Source

Aave

Solana

DeFi

TI Research

TokenInsight is a data and research organization for the digital asset market. TI provides comprehensive asset-related data and comprehensive and timely information and research services for digital assets.