公链 · 4901

Jiang Zhuoer: ETF capital inflows are relatively strong, or one of the reasons why ETH growth outperformed BTC in the cost round

Comparing news, Jiang Zhuoer, founder of Libitt Mining Pool, wrote that Bitcoin and Ethereum spot ETFs recorded inflows of about US$1.92 billion and US$700 million respectively last week, while Ethereum ETF inflows were about 36.4% of Bitcoin's. Meanwhile, the total market capitalization of ETH is currently around 18.8% of BTC, and its share of ETF capital inflows is significantly higher than the share of the two market capitalization. Jiang Zhuoer said that stronger relative capital inflows may be one of the factors that has outperformed BTC in recent ETH growth. The biggest increase in ETH in this round was about 35.9%, higher than BTC's 26.6%. Furthermore, as the US promotes crypto market structure legislation and asset tokenization, the development of RWA may further increase the market's attention to the smart contract public chain.

1m ago

Keeta wrote to hackers after the attack: Returning funds within 72 hours is exempt from liability

Comparing news, regarding the recent attack on the public payment chain Keeta, Keeta Network CEO Ty wrote to the attackers saying that the investigation had made substantial progress and that evidence that could identify the attackers had been collected. This includes information such as IP addresses related to the attack and infrastructure information such as VPNs and VPS used, user agents and technical environments that initiated unauthorized requests, relevant email addresses, and software and infrastructure service providers used. Relevant evidence has been saved and submitted to relevant parties. The attackers are required to return all funds obtained from this attack within 72 hours, and KTA, ETH, or USDC are accepted for repayment. If the funds are returned in full, they are willing to give a certain reward and resolve the matter without legal liability. All rights to pursue legal and financial claims will be reserved if the return is overdue. Ty previously posted that the root cause of the security incident has been confirmed and the patch is being tested. This issue is an isolated issue with the affected component and does not affect Keeta's anchor system or any external connectivity systems. None of the KTAs on Base were affected. The Keeta mainnet will continue to be read-only until the patch is fully tested and appropriate additional safeguards are in place before full operation is restored. The team is actively evaluating the best practices to fully reimburse all affected users.

1m ago#On-chain dynamics

Bonk Guy: Major public chains are fully competing for retail investors, liquidity, and users. The on-chain market may explode in this round

Comparing news, crypto KOL “Bonk Guy” Unipcs wrote that the market may have seriously underestimated the scale of development of the on-chain market in this round. Currently, Robinhood, BNB Chain, Base, and Solana are all vying for retail market, liquidity, users, and attention. Unipcs believes that all major ecosystems hope to become the leading chain in this cycle and are willing to invest significant resources to promote ecological growth. It is expected that competition and activity in the on-chain market will further heat up.

9h ago

ARK Invest Research Director: Proposes Hyperliquid to acquire Gemini to create a US compliant HIP-3/4 platform

Comparing news, ARK Invest Research Director Lorenzoark wrote an article recommending that Hyperliquid acquire the US compliant trading platform Gemini and make it a US regulated HIP-3 and HIP-4 deployment platform. Hyperliquid is engaging with the CFTC and SEC to support US regulated companies to provide perpetual contract transactions and settlements on their public chains. Gemini was listed at a valuation of 3.3 billion US dollars in September 2025, and currently has a market capitalization of about 450 million US dollars, down more than 85% from the IPO. Under pressure from its core business, it has shrunk its operations in the UK, the European Union, and Australia, cut its workforce by about 40% to 402 from its peak, reduced platform assets from $18.2 billion to $8.4 billion, and its spot trading volume fell 66%. Approximately $450 million can obtain Gemini's full US regulatory license portfolio, including NYDFS trust licenses, CFTC-regulated DCM (Gemini Titan), DCO (Gemini Olympus), FCM in progress, and almost all US MTL and broker-dealer licenses. Compared to Kraken's parent company buying Bitnomial for up to $550 million, Gemini's overall market capitalization is lower. After the acquisition, it can inherit operating assets such as approximately 580,000 monthly active trading users, 1.72 million lifetime users, US$8.4 billion in platform assets, US$3.8 billion in quarterly spot volume, and approximately US$180 million in annualized revenue.

1d ago

Millions of dollars are rushing into the market, but some are in a hurry to exit: Pharos's high-interest treasury causes a “view of time” collision

Article: Sanqing, Foresight NewsSharos Network joined forces with Vault infrastructure agreement R25 and credit asset management agency Axil to launch Axil Prime Credit Vault (APC), an institutional consumer credit RWA wealth management product issued by Pharos on July 15. The products were launched simultaneously with Binance Wallet, TopNod, OKX Wallet, Bitget Wallet, and KuCoin Wallet, with a total fundraising limit of 100 million USDC, with a target annualization of about 14.3%. As of the closing of the deposit window, a total of $45.39 million had been deposited. This year, there have been frequent security explosions in Web3 on-chain strategies. User funds are looking for new stable income sources, and project parties are also there. Binance Wallet is now offering an additional $300,000 PROS as an incentive to explore RWA Vault's market space, causing the Vault to generate a lot of discussion in the market. The launch time coincided with the redemption period of the Pharos TGE pre-deposit campaign. The previous treasury required the submission of a redemption application about half a month before the end of the lockdown period, stop accruing interest on July 20, and complete the redemption within 7 days. Users accustomed to DeFi T+0 looked back and found that they couldn't help but missed the redemption period and began to question the redemption time and asset safety. R25 and Axil then held an AMA at Binance Square. Well-known KOLs such as Haotian and Tianqing participated in discussions, detailing the differences between RWA assets and DeFi Vault, the role of fund managers (Curators), why consumer credit is worth allocating, and risk management methods from pre-investment to post-investment. In complex asset logic and mixed social media discussions, some users put in one million funds on the last day, while others sought early redemptions from the project party. On July 23, Pharos issued an announcement: Users who submitted applications on time in the previous issue have received all principal and interest, breaking the “financial security” concerns; funds that missed the window will automatically be carried forward to the next three-month cycle according to the treasury's preset rules, and interest will continue to be accrued at 14% USDC per annum. The controversy revealed more important issues than the redemption itself. Although the RWA TVL has exceeded $38 billion, non-institutional chain users are clearly dissatisfied when investing in RWA products. Institution-driven, stable, and high interest rates, but often require longer lockdown periods and complex understanding costs. From DeFi to RWA, is the market really ready? High yield, low threshold, and high liquidity. BlackRock's “impossible triangle” of RWA's BUIDL threshold is $5 million. It is only open to qualified buyers, yet it can be redeemed almost instantly through the stablecoin channel; the APC threshold is so low that ordinary users can buy it at will; instead, it must be locked for three months. Liquidity has never been determined by how high or low the threshold is, but rather how quickly the underlying assets can be realized. The bottom layer of BUIDL is US treasury bonds, and the world's deepest secondary market can take over at any time; the bottom layer of APC is hundreds of thousands of emerging market consumer loans, and few people are ready to buy large amounts of capital at any time. This has formed a triangle that RWA cannot bypass at this stage: high yield, low threshold, and high liquidity; the three can only take two. For example, Franklin Templeton's BENJI starts at $20 (low threshold) and supports daily redemption (high liquidity), and the annualization is only 3% to 5%; if you want double-digit returns, you have to accept non-standard assets and a lock-up period. This is the liquidity premium. A significant portion of the excess income is the consideration for abandoning liquidity. APC, on the other hand, is a combination of high returns and a low threshold, and the cost is liquidity. There is nothing wrong with this trade-off itself; it also explains the full source of this controversy. Retail investors have obtained assets that were originally only open to institutions, and they have also taken over the agency's time rules that focus on long-term matching. The period of use of institutional funds is scheduled before investment, and the lockdown period is a predictable cost; private equity credit and closed-end funds already have redemption restrictions. However, most ordinary users on the chain are not the same; most of the latter's first appeal is to go in and out. So the current “retail” RWA is mostly just distribution-side retailing, to be precise. Web3 wallets and low initial investment amounts have contributed to a low threshold, but the liquidity structure is still designed according to institutional logic. Having understood this triangle, the remaining questions became specific: why must the liquidity side be sacrificed, a high income of 14.3%...

2d agoForesight News#WEB3

Meme coin leaders in various public chains fell across the board, ANSEM's high fell by more than 30%, and CASHCAT once again fell below 100 million US dollars

Comparative news, according to the GMGN market, last night and this morning, mainstream meme coins on various public chains across the network fell. Among them: Solana ecosystem meme coin leader ANSEM fell more than 30% from yesterday's high and now reports US$227 million; BSC Ecosystem's previous coin meme leader MarsCoin fell below the platform consolidation position for many days, and now reports US$32.83 million, a 24-hour drop of 12%; the Robinhood chain meme coin CASHCAT once again fell below 1 The billion dollar mark is currently reported at $89.37 million, a 24-hour decline of 14.61%.

3d ago

Gnosis Chain's GIP-153 proposal to transform into Ethereum L2 has been approved

Comparatively, Gnosis Chain's GIP-153 proposal to transition from a sovereign independent L1 to a highly aligned Ethereum L2 has officially been approved. On the eve of the voting deadline, several official related addresses, including Gnosis co-founder StefandGeorge, voted in favor and successfully met the quorum (Quorum) requirement. The proposal was jointly initiated by Gnosis founder tw_tter and core members. It aims to free Gnosis Chain from the shortcomings of traditional PoS L1 security and inflation subsidies, directly inherit the security of Ethereum validators, and will be the first to achieve simultaneous composable Ethereum L2.

3d ago

Don't bet 100 times more, just look for “cash bulls”: What other projects are worth investing in in a bear market?

Source: Odailey Planet Daily Author: Asher Original title: Don't guess 100 times the coin, only bet on “cash cow”: What other projects in the bear market are worth investing in? The bear market only buys the most profitable items on each track, and the bull market then goes after short-term hot spots. Core point of view: In the context of the downturn in the crypto market, this article has selected four issued projects, Pump.fun, Hyperliquid, Uniswap, and Chainlink. They have shown profitability through a bear market with stable agreement revenue, providing a more realistic reference target for long-term investment. Key elements: 1.pump.fun's revenue in the past 30 days was 41.53 million US dollars, with a cumulative total of about 256 million US dollars in the first 7 months. The revenue depends on the popularity of Meme transactions on the Solana chain, but the average monthly cash flow capacity of tens of millions of dollars is outstanding. 2. Hyperliquid's cumulative revenue for the first 7 months was about US$352 million, surpassing Pump.fun. In June, it reached a new high of 60 million US dollars during the year. The revenue mainly comes from perpetual contracts and spot transaction fees. 3. Hyperliquid uses approximately 99% of the agreement fee to repurchase and destroy HYPE tokens, forming a simple investment logic of “profitable and continuous repurchase”. 4. Uniswap has earned 5.6 million US dollars in the past 30 days. It is the most profitable DEX. It accumulated about US$28.4 million in the first 7 months, benefiting from the official opening of the agreement fee after the implementation of the Unification proposal and its use for UNi's destruction. 5. Chainlink's revenue in the past 30 days was 4.57 million US dollars. The monthly revenue was stable in the range of 4.4 million to 5.8 million US dollars. The revenue came from service fees such as oracles and cross-chain services, and the cumulative transaction value facilitated reached 32.18 trillion US dollars. Since this year, the crypto market has continued to be sluggish. There aren't no hot spots on the chain; every once in a while, there are a few burgeoning memes, but these quotes often focus on new coins that have just been issued and hardly give the market time to fully study. Once the story ebbed down, prices quickly dropped back down. Most players who got on the bus halfway ended up losing money and making little money. Since blindly guessing the next 100 times the coin makes little sense. A more realistic investment logic is: if you are preparing to invest slowly in a bear market and wait for the next round of the bull market to return, what other projects are worth buying now? Compared to simply reading the story, a more direct screening criterion is whether the project itself still makes money or not. If a platform can still earn millions or even tens of millions of dollars in revenue every month in the crypto bear market, it at least indicates that users and demand are still there, and the project also has a stronger ability to cross the cycle. This type of platform token won't necessarily be the altcoin with the most exaggerated rise in the next round of the bull market. So, since this year, what other coin issuing projects have continued to make money? (The revenue data for the project in this article comes from Tokenomist and DeFilLama. The revenue caliber is uniformly adopted, that is, the actual revenue of the agreement after deducting distribution to supply-side participants such as LPs.) Pump.fun: The “shovel seller” on the meme circuit earns money from round after round of coin issuance boom. Apart from the two major stablecoin issuers Tether and Circle, Pump.fun is one of the most profitable crypto native projects in the past 30 days, with a revenue of 41.53 million US dollars. Looking at monthly data, Pump.fun's revenue from January to July was 51 million US dollars, 40 million US dollars, 38.1 million US dollars, 32.4 million US dollars, 32.4 million US dollars, 34.4 million US dollars, 26.6 million US dollars, and 33.7 million US dollars, respectively, with cumulative revenue of about 256 million US dollars for the first 7 months. Pump.fun's revenue peak was high at the beginning of the year, then the overall decline was evident in April and June, and there was some recovery in May and July. The core of Pump.fun's revenue comes from continuous trading of SGD on the platform. Currently, users are free to create tokens themselves, but trading during the Bonding Curve phase requires transaction fees. According to Pump.fun's latest rate, Bonding Curve's total fee rate is 1.25% per transaction, of which 0.95% goes to the agreement and 0.30% is distributed to token creators. Additionally, when tokens graduate from Pump.fun and enter PumpSwap, a graduation fee of 0.015 SOL will be charged. Pump.fun's revenue still depends on Solana's on-chain meme activity. When the on-chain market is lukewarm, revenue drops significantly, and recovers quickly when popularity picks up. But from the perspective of a bear market, it can be at 7...

4d agoOdaily星球日报#DeFi #MEME #invests

Uniswap will be deployed synchronously when the Arc mainnet goes live in September

Comparatively, Uniswap announced that it will complete deployment when the Arc mainnet is officially launched in September to provide developers with deep on-chain liquidity infrastructure and support the construction of DeFi applications such as lending, structured products, LP strategies, and token issuance. Arc is a public chain owned by Circle. It uses USDC as the gas token and has sub-second deterministic finality.

4d ago#On-chain dynamics

After eight years of investment, why did Ethereum abandon Poseidon?

Author: ChandlerZ, Foresight News Original title: After eight years of sharp turns, why did Ethereum suddenly abandon Poseidon? On August 13, Ethereum researcher Justin Drake wrote on X that the Ethereum Fund decided to abandon the SNARK-friendly hash algorithm Poseidon at the L1 layer and instead use traditional hash functions such as SHA2 or BLAKE2. Behind this decision is eight years of research, the accumulation of tens of millions of dollars, and a major revision to the post-quantum cryptography roadmap. Since its launch in 2019, Poseidon has been regarded as an ideal hashing scheme for applications such as zkRollup and zKVM. Its structure makes it cheaper and more efficient than traditional binary-based hash functions in SNARK circuits. But when post-quantum security became a hard requirement for Ethereum, Poseidon's limitations began to be exposed. Justin Drake said that this shift is due to groundbreaking SNARK design progress, that is, the performance of traditional hash functions in SNARK circuits is comparable to that of Poseidon, which was previously designed specifically for SNARK optimization. A single laptop can verify about 1 million traditional hash calls per second. According to the article, Poseidon has been the mainstream SNARK-friendly hashing scheme since its launch in 2019, providing security guarantees for applications such as zkRollup and zKVM. Justin Drake said that the plan shows that production-grade LeanVM is expected to be launched in 2027, the relevant deployment of the consensus layer, data layer and execution layer is expected to be completed in 2028, and the quantum team is also accelerating research related to the binary domain after the Ethereum Foundation. Why now? Traditional hashes have been difficult to enter SNARK for a long time, and the main obstacle comes from differences in computational languages. SHA2, BLAKE2s, and Keccak make extensive use of Boolean operations such as XOR and shift. Traditional SNARK usually processes arithmetic on large prime numbers, and simulating every bit operation can incur high constraint costs. Poseidon is designed directly around prime field arithmetic, with fewer constraints in exchange for higher proof speed. The cost is that the algorithm has a short history and requires continuous cryptographic analysis. The binary domain switches the underlying math to the smallest element domain containing only 0 and 1, and uses the binary domain extension to carry larger data. As a result, bit computation can directly enter the proof system. SNARK began to adapt to traditional hashes, and the technical focus changed from designing SNARK-friendly hashes to designing hash-friendly SNARKs. Binius, proposed by Jim Posen and Benjamin Diamond in 2023, shows the binary tower domain SNARK path. The Flock paper by Benedikt Bünz, Ron Rothblum, and William Wang was uploaded to arXiv on July 29, 2026. Its M4 Max benchmark is that a single core proves 82,000 times of BLAKE3 compression and 42,000 SHA- cycles per second With 256 compression and 30,000 Keccak replacements, the 10-core BLAKE3 has a throughput of over 660,000 times. According to Drake, the laptop can prove about 1 million traditional hash calls per second, which is about 100 times the cost of native CPU Boolean calculations; SNARK.fast reached 1.8 million BLAKE3 per second on M3 Max a few days ago. LeanVM in 2027, the 2028 three-tier deployment Another key reason for the abandonment of Poseidon is that the post-quantum security timeline is accelerating. “The Quantum Threat to Blockchains - 2026 Report” published by Project Eleven points out that the rapid development of quantum computers poses a serious threat to blockchain security. Once a “cryptographics-related quantum computer” (CRQC) appears, the Shor algorithm can quickly crack asymmetric cryptography such as ECDSA (used by Bitcoin and most public chains) and RSA. It is expected that Q-Day (quantum decryption day) may be between 2030 and 203...

5d agoForesight News#L1 #Ethereum