Crypto Daily Digest - November 15th

IDO

Solona's on-chain asset management protocol Sonar will be IDO on Solanium

• Token whitelisting: 16-18 November
• Lottery: 19 November
• Distribution: 22 November Source

DeFi

OolongSwap will launch $OLO token through LP farming.

OolongSwap, an AMM DEX on Boba Network, will be fair-launching $OLO token through LP farming on November 15th. Supported LP farming pairs include USDC/ETH, WBTC/ETH, OMG/ETH, USDT/ETH, and DAI/USDC. Source

Terra Eco Edge Protocol to launch 'Custom Lending Pool'

Edge Protocol, the Terra on-chain lending protocol, will launch its first "Custom Lending Pool" product, which allows users to create a lending pool for any asset, set custom lending parameters including lending factors, collateral factors, interest rate models, etc., deploy any prediction machine, set a transaction fee share, and set a whitelisting mechanism. "After the user creates the pool, Edge Protocol will launch a Pool Marketplace for both lenders and borrowers to trade, and finally will launch a Stabilization Reserve for the liquidation of the pool. The pool will be hedged by the Stabilization Reserve to cover the risk of insufficient collateral. Source

UXD Protocol Raised Over $57m in the IDO

UXD Protocol raised a total of $57,086,131 for the insurance fund. With the total supply of 10 billion, the raising indicates a fully diluted valuation of $1,900 million. The insurance fund will first be invested in Saber and Mercurial Fi stablecoin swap LP tokens to earn yield, which will flow back into the insurance fund. The funds will be split 50-50 between Saber’s USDT-USDC pool and Mercurial Finance’s wUSD 4Pool. In the future, the insurance fund will be invested in UXD-USDC pools to increase the liquidity of UXD. And the governance token, UXP, has been listed on Serum. Source

Crabada Launches on Avalanche

Crabada is now officially live on Avalanche. It is a GameFi protocol where users can breed and utilize their crabadas to earn cryptocurrencies. Source

Cream Finance Compensates Impact Users with 1,453,415 $CREAM

Cream Finance V1 Ethereum markets were exploited on October 27th with an impact of $130 million. To compensate the impact users, the team decided to distribute 1,453,415 CREAM tokens to these users and remove the project team’s remaining CREAM token allocation. Users can now claim their users from the app, and the process will be available for 1 year. Source

NFT/GameFi

Yield Guild Games x Genopets

Play-to-earn guild Yield Guild Games (YGG) recently announced a partnership with Genopets, the Move-to-Earn game on Solana. Genopets will use smartphones or wearable fitness devices to capture the number of steps a player takes each day, and issue bonus experience accordingly. YGG purchased custom branded Genopets Habitats, which will improve the efficiency of experience acquisition, along with Genopets governance tokens (GENE) for the YGG community to use. Source

Trading

$QI is Listed on Binance

$QI is listed on Binance on November 15. It is the native token of Benqi, a decentralized lending market protocol on Avalanche. Source

Fundings

Clear Protocol Closes $2.5 Million Private Placement Round Huobi Participates

Clear Protocol, a custom derivatives protocol, has announced the closing of a $2.5 million private placement round with Huobi Ventures, Kronos Research, SpringWind Ventures, and seed round investors LD Capital and StillWater Research.The protocol has been deployed on the BSC and Ether test networks, and will later be deployed on Solana and Arbitrum, with the product expected to go into public beta in late 2021 and go live in Q1 2022. Source

Blockchain Gaming Platform Forte Closed $725 Million Series B Funding Round

Blockchain gaming platform Forte closed a $725 million Series B round led by Sea Capital and Kora Management, with participation from a16z, Tiger Global, Solana Ventures, Polygon Studios, Cosmos, and Animoca Brands and others. The funds raised will be used to expand its product and service suite and accelerate the onboarding of game and content publishers. Previously, Forte closed a $185 million Series A round of funding in May led by Griffin Gaming Partners with participation from Union Grove Venture Partners, a16z, Battery Ventures and others. Source

Spectral Closed $6.75 Million Funding Round Led by Polychain Capital

Spectral, an ethereum-based programmable reputation protocol, has closed a $6.75 million funding round led by Polychain Capital with participation from Galaxy Digital, Social Capital, ParaFi Capital and others. Spectral develops infrastructure for assessing credit risk in Web3 and lays the framework for a new asset class of programmable creditworthiness. Spectral’s first product is an on-chain credit score, which gives lenders an improved mechanism to evaluate borrower risk, and grants the user full control over their identity and pseudonymity on the blockchain. Source

Readings

A Beginner’s Guide to Navigating Olympus Pro Source