Crypto Daily Digest - November 2nd

Fundings

Project SEED Raised $3.1m in Private Round

The Gaming Metaverse project on Solana - Project SEED, has just announced the successful private funding round valued at $3.1 million. Led by Huobi Ventures, Solar Eco Fund, Cipholio, Solana Capital, and BlackEdge Capital. What's more, the upcoming IDO of Project SEED will be launched at Nov 9.Source

The Sandbox Raised $93 Million, Led by SoftBank's Vision Fund 2

The Sandbox is a gaming platform that allows users to build a virtual world using NFTs. The Sandbox announced that they have raised $93 million led by SoftBank's Vision Fund 2.Source

DeFi

dYdX Released the Mining Review of Epoch 2

• Total trading volume > $92 billion, with average daily volume > $3.1 billion
• Fees paid: $64 million
• 11.2k unique wallets earned 5.3 million of $DYDX, currently worth $88 million
• 11,883 active traders in total Source

Injective Published Its October Update

Highlights of Injective in October include the pass of Proposal #60 for enabling IBC transfers on Injective Chain went live, the launched of Injective Pro relayer, announcement of new perpetual market listings and hidden markets for canonical and others. Source

Ribbon Started A Private Covered Call Plan for DAOs and Looking for Pilot Partners

Ribbon announced that it is looking for pilot partners for Ribbon Treasury, which are vaults that manage other protocol's native tokens by covered call strategy. Requirements for pilot partners are that 1) perps must exit on a CEX for hedging; 2) DAO should deploy $1-$5 million of the native tokens into Ribbon Treasury. Source

Notional Launched V2

Fixed rate lending protocol Notional announces the launch of V2 and the start of liquidity mining for NOTE. 100 million NOTEs were issued, 50% for liquidity incentives and 20% for the first year of liquidity incentives.The biggest upgrades from V1 are: 1. Auto-rolling nTokens for LPs (can also be used as collateral for borrowing against). 2. Lend AND borrow up to 1yr at launch (2, 5, 10 & 20 yr coming). 3. LP w/ your borrow collateral in the same transaction (100% capital efficiency). Notional V2 underwent extensive internal testing and received three independent audits from ABDK Consulting, Certora, and Code Arena. Source

MakerDAO Integrates Lido's wstETH as Collateral Asset

MakerDAO, the founding DAO behind the decentralised Dai stablecoin, has successfully integrated Lido’s wstETH token as a collateral asset on the Maker protocol. The integration allows Maker users to deploy their wstETH as collateral to mint DAI, leverage liquidity positions and maximise their Ethereum staking yields across the DeFi space. Lido’s stETH, built on the Ethereum network, lets users earn daily staking rewards on the beacon chain without having to lock up their ETH tokens and maintain staking infrastructure. stETH works as a derivative token, distributed to users upon depositing ETH into the Lido staking contracts. Source

Curve Forex Pools Went Alive

Curve has officially launched EUR/USD forex pools. The pools have been deployed on Ethereum mainnet, Polygon, and Arbitrum. Source

OlympusDAO Launching on Fantom

Olympus Pro is about to launch on Fantom blockchain, according to the announcement of OlympusDAO. The launch will be joined with partners including SpiritSwap, LiquidDriver, Scream, and SpookySwap. Source

DYdX Will Compensate Users Affected by the Safety Module Issue

With 150 unique addresses voting for the DIP with about 32M $DYDX, and less than 0.1% voting against, the proposal about compensating users affected by the Safety Module issue has met the minimum quorum (20M) and passed. According to dYdX's founder Antonio, this is the first on-chain dYdX proposal. Source

NFT

NFT Grammy Award with OneOf

The Recording Academy, whose famous for its Grammy Awards, has teamed up with OneOf, a music NFT marketplace on Tezos blockchain. The partnership plans to launch NFTs that will commemorate the 64th, 65th, and 66th Grammy Awards. The NFTs will be released as collectibles and experiences celebrating the Grammy Awards, nominees and recipients. Source

Genopets Public Token Sale on Impossible Finance

Genopets, a GameFi project on Solana announeced its token sale plan on Impossible Finance on 11.16. Impossible Finance provides 0.5% of $GENE - the native token of Genopets total supply. And the token price is 0.8 $BUSD. Source

Others

Coinbase Acquired an Indian AI Company

Coinbase acquired an India-based artificial intelligence-enabled support platform, Agara to improve its customer support while expanding in India. Source

Ethereum Name Service Launched DAO and $ENS

The ENS announced the creation of DAO and token $ENS, and the transfer of governance of ENS to the community, including control of the vault, control of future funding, and the .eth domain registration contract (responsible for domain registration mechanisms and pricing). Users can apply to become an ENS governance representative (application form: https://discuss.ens.domains/t/ens-dao-delegate-applications/815), and $ENS token claim will begin next week based on the November 1 snapshot list. The current number of unique participating addresses in the Ether Domain Name System ENS is 151,369 and the total number of domains is 401,954.Source

US Treasury Stablecoin Report

The U.S. Treasury Department has released the report on stablecoin risks. The report requests for laws that would expand regulatory oversight over stablecoin issuers like Tether, Circle, Paxos, etc. Source

Readings

• Yearning for Yearn Source
• CryptoPunk worth $850,000 sells for just a fraction of its price：Source
• Everyone is wrong about metaverse: Source