NFT News

2021-07-28 20:16:02 Ethereum startup EthSign has raised $650 million in investment

Singapore startup EthSign has raised $650 million in a round of seed funding. The Block writes about it, citing the information received from the representatives of the project.

The EthSign investment round was led by venture capital firm Draper Associates. The project team also managed to attract investments from Hashkey Capital and ImToken Ventures.

Representatives of the startup plan to use the funds to hire new employees and enter into partnership agreements.

EthSign is a decentralized application that can be used to save records of electronic document signatures on the Ethereum blockchain. The platform is based on Web3 technology. The developers also used in the project decentralized identifiers (DIDs) and the possibility of smart contracts.

According to EthSign, more than 500 people have already used the platform to sign more than 200 contracts. Open / Comment

2021-07-22 21:25:03 Aave may create a "Twitter on Ethereum"

The founder and CEO of the DeFi-project Aave, Stani Kuleshov, decided to create an analog of Twitter on the Ethereum blockchain. This is likely in response to Twitter founder Jack Dorsey's plans to develop a new DeFi-platform on the bitcoin network.

Since @jack [Dorsey] is going to create Aave on bitcoin, Aave should create Twitter on Ethereum," Kuleshov wrote Saturday, adding that Aave co-founder Jordan Lazaro Gustav will lead the project.

A little earlier, Jack Dorsey wrote that Square would create a new business to build a platform for "non-storage, uncensored and decentralized financial services."

Aave is one of DeFi's most frequently used protocols (DeFi Pulse data), with $10.82 billion blocked on Ethereum and Polugon. Open / Comment

2021-07-21 12:13:49 Umbrella Network announces compensation plan for ChainSwap attack

The Umbrella Network (UMB) team has now frozen the tokens recently issued by hackers and plans to issue a new contract for UMA tokens at BSC next week and distribute it 1:1 to UMA holders at BSC before the hack.

To offset the opportunity cost to users during this period, Umbrella Network will also distribute new UMA tokens to users at BSC and incentivize users to keep the new tokens. Users will receive 25% additional airdrops for every 25 days of ownership.

Rewards held up to 100 days will double the number of tokens for additional airdrops. In addition, Umbrella Network plans to redeem 110 ETH worth of UMA tokens in the Ethereum chain on the marketplace and store them in a public address. Open / Comment

2021-07-21 12:13:23 Synthetix ecosystem project Thales has raised $2.5 million

Binary options and sports betting will soon be launched on Synthetix's Thales platform. According to official sources, Synthetix Thales' environmental project has completed a $2.5 million strategic funding round.

The investment was led by Framework Ventures and Apollo Capital with participation from IOSG Ventures, LD Capital, Honey DAO, LAO, Zonff Partners, Zee Prime Capital, D64 Ventures, Koji Capital, Daedalus Angel Syndicate and ChainCatcher.

Binary options are financial instruments that allow traders to speculate on the price movements of an underlying market or cryptocurrency.

At launch, Thales will support markets for more than 60 different assets, including cryptocurrencies, commodities, stocks and index products, before launching a sports betting market. As of this writing, no specific launch date has been announced. Open / Comment

2021-07-17 07:59:25 Hackers took $8 million out of the ChainSwap project

DeFi's ChainSwap project has been hacked. Hackers took advantage of a critical vulnerability in the project's smart contract, gained access to the wallet, and sold off $8 million worth of tokens.

Project developers emphasized that only the ChainSwap wallet was exposed to the vulnerability. Tokens in users' wallets were out of danger. They urged users not to buy the stolen tokens, as they plan to release a new version of the token and distribute them to holders of the first version.

"The Chainswap team has suspended the wallet on the BSC blockchain. We are trying to figure out the hacker's wallet. Your balances may be temporarily zeroed out, but only for the duration of the check. A smart contract was hacked, but the wallets that interacted with Chaiswap are not vulnerable to attack," the project developers wrote on Twitter. Open / Comment

2021-07-12 08:45:33 BarnBridge introduces an app to maintain the weight of an ERC-20 token portfolio

BarnBridge's "SMART Exposure" app automatically rebalances ERC-20 tokens stored in a user's portfolio to ensure that they retain a certain weight.

The app has been launched on the main Ethereum network with support for Wrapped Ether (WETH), Wrapped Bitcoin (WBTC) and USD Coin (USDC) in 75/25 or 50/50 pairs. It will also be deployed on the Polygon network (MATIC) in the coming weeks.

The protocol explains that this functionality is possible because SMART Exposure supports its own asset pools.

Each risk factor is represented by an interchangeable ERC-20 token with its own ticker, allowing positions to be traded in secondary markets or potentially used as collateral in other protocols. Open / Comment

2021-07-07 12:02:47 Ethereum London hardfork expected Aug. 4

EthHub founder Anthony Sassano expects the main network date for the upcoming Ethereum update, which includes EIP-1559, to be announced as early as this Friday.

Sassano also mentioned that the long-awaited hardforward with the EIP-1559 update for Ethereum will likely be discussed and announced on July 9 - later this week - during a meeting of Ethereum core developers.

Low speeds weren't an issue when Ethereum had few users, but as the DeFi space grew, it led to network congestion and high gas fees. The average fee per transaction was as high as $71. This growth also coincides with DeFi's growing popularity - in October 2020, the average fee was only about $2.

The London hard fork update will help solve the scalability problem. Open / Comment

2021-07-03 14:31:25 Plasm is renaming itself Astar Network, aiming to become a Polkadot-enabled dApp hub

Astar Network is a multi-chain dApp hub on Polkadot that supports Ethereum Virtual Machine, WebAssembly and Layer2 solutions.

Astar is designed to have all the features needed to become an ecosystem for smart contracts on Polkadot.

"We have been developing Plasm for over 2 years. Initially we focused solely on bringing Layer 2 technology to Polkadot, but our vision has expanded. Layer 2 is now just one element in our development pipeline. Our platform is a dApp hub that supports Etherem Virtual Machine, WebAssembly and Layer2 solutions. As of today, we are entering a new chapter. Plasm becomes Astar Network in an effort to become a Polkadot-based multi-chain dApp hub that supports both Ethereum Virtual Machine and WebAssembly," the company said in a blog post. Open / Comment

2021-06-21 07:18:21 Former PayPal employees launch a decentralized cross-border payments network on Algorand

Six Clovers, a fintech infrastructure company, said it has launched a fast network connecting banks, merchants and payment providers that allows customers to use digital currency and fiat currency for transactions.

The network was founded by former PayPal employees Jim Nguyen and Nas Kavian with support from venture capital firm Borderless Capital. It is based on the Algorand blockchain.

"Six Clovers is a next-generation payment infrastructure that solves many of today's domestic and international payment problems while opening up a whole new world of digital financing opportunities," CEO and co-founder Jim Nguyen said in a press release. Open / Comment

2021-06-18 07:44:10 Lyra, a decentralized options protocol, will launch a test network in June

Lyra, the decentralized options protocol, will launch a test network in June, according to official sources. The core network will launch in the third quarter and the v2 version in the fourth quarter.

With Lyra, automatic add-on LP hedging can be implemented, and long and short option positions can be traded instantly. Lyra uses the Optimism extension solution and integrates with Synthetix.

Options are an integral part of the financial system, allowing traders to manage risk, leverage and build any payout structure. However, despite DeFi's recent growth, they have yet to find real growth online.

Lyra combines the best of the traditional options market (proven pricing and risk management) with two of the greatest strengths of cryptocurrency at the moment - scalability and linkability. Open / Comment