DailyFi - 11.10 | Neon Labs Closes 40 Million Funding, Aave to Launch Solana
DeFi
Aave
Decentralized lending protocol Aave CEO Stani Kulechov announced that Aave will soon be deployed to the Solana chain and revealed that the V3 version may prioritize Layer 2 deployment, but this will need to be decided by a governance vote.
Ethereum Name Service
Crypto domain name tool Ethereum Name Service launched its native $ENS governance token this Monday, but according to CoinGecko data, $ENS has reached a fully diluted market cap (Fully Diluted Market Cap) of $5.4 billion. The maximum supply of ENS is 100,000,000 (100 million), and currently only one-tenth is in circulation.
Across
Across is an L2 to L1 cross-chain bridge that will support Arbitrum and Optimism in the future. On November 8, it announced the official launch of the main network. Users can bridge USDC, ETH, and UMA from Arbitrum back to L1 Ethereum. The bridging function works by incentivizing relayers to provide short-term loans to L1 users, which are repaid by L1's liquidity pool after two hours. This pool will be refilled when the funds for the L2 transaction arrive. These deals are insured by UMA's Optimistic Oracle.
Olympus Pro
OlympusDAO, a decentralized algorithmic stablecoin protocol, has announced that it will integrate the Avalanche network. OlympusDAO is a DAO designed to provide users with non-pegged stablecoins (OHM). The token is not backed by the US dollar and is instead dependent on the DAO vault. Olympus Pro is its bond market.
Growth DeFi
Growth DeFi is a multi-chain DeFi ecosystem that includes products such as overcollateralized stablecoins (MOR) and yield aggregators (WHEAT). The feature is that users can use interest-bearing assets to borrow stablecoins (MOR). According to the disclosure, the agreement will be integrated into the Avalanche network in the coming weeks.
O3 swap
O3 Swap will support OKExChain at 12:00 Beijing time on November 22nd. Meanwhile, Ice Age Mining on the OEC and the new cross-chain mining pool will be launched on O3 Vault and O3 Hub, respectively.
Premia
American options on-chain exchange Premia announced the issuance of PREMIA-ETH SLP “bonds” on Olympus DAO to provide liquidity for its LP tokens and pay dividends in $PREMIA tokens. Currently, stakers participating in liquidity mining activities have purchased a total of about 10,000 US dollars of PREMIA-ETH SLP “bonds,” but their returns are relatively poor (-6.90%).
NFTs/ GameFi
Squads
Squads is a Solana on-chain governance tool that provides users with a simple and friendly on-chain governance interface. It allows anyone to initiate and vote on proposals, and supports the governance of NFT assets (through 1 NFT = 1 vote). Currently, DAO protocols confirmed to use Squads' include: Monky DAO, ThugDAO, JungleDAO, gMootDAO, Playground DAO, SkeleDAO, DAG, and Munk NFT DAO.
Yield Guild Games
YGG announced on November 9 that they have purchased $91,000 worth of assets in the DeHorizon game, including exclusive weapons, equipment, Dragon Race Teams, DeMeta Pass ID, and 40 monsters called JuJus, which will also be specially customized under the name of YGG. The long-term vision of the DeHorizon metaverse is to create a cross-chain virtual world full of different experiences through gameplay that is open to all Metaverse users. Built on an Ethereum-EVM compatible chain, the DeHorizon game allows players to fight, mint NFT monsters, mine resources, complete heroic quests, tame wild creatures, and more.
transactions
Binance Launchpool
Binance Launchpool has released its 24th project — Manchester City FC Fan Token (CITY), which is Manchester City FC's fan token on the Chiliz chain.
financing
WOO Network
Woo Network closes $30 million Series A funding round. Many investors participated in this round, 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, etc. Woo will use this funding for more talent acquisition and global market expansion, and plans to open an office in Poland. At the same time, it will also increase investment in the DeFi field and develop new products.
RCT AI
P2E game RCT AI closed more than $10 million in A-3 funding rounds. Investors in this round include Yuanyuzhou Ventures, Springwind Ventures, Galaxy Interactive, Bonfire Union, Everest Ventures Group, FBG Capital, Folius Ventures, HashKey Capital, Hash Global, Mask Network, SNZ, etc.
Neon Labs
Neon Labs, an Ethereum virtual machine developer team on Solana, has raised $40 million. Jump Capital led this round of financing, with participation from Three Arrows Capital, Solana Capital, and Rockaway Blockchain Fund. This round of Neon Labs is a cryptocurrency financing. The funds raised will be used to rapidly expand the size of the Neon Labs team, including research, core development, marketing and business development, and will also be used to fund the program. Neon, developed by Neon Labs, is a software environment on Solana that allows developers to build applications using the Ethereum Virtual Machine (EVM). With this technology, developers can write smart contracts using familiar coding languages such as Solidity and Vyper, enable tools such as MetaMask, and deploy forks of existing protocols such as Aave — while benefiting from Solana's ability to process transactions quickly and at lower costs.
