Sec3 · 11

Solana ecosystem DEX Lifinity decided to gradually shut down, and $43.4 million in assets will be distributed to token holders

Comparative news, according to market news, the Solana ecosystem DEX Lifinity has decided to gradually stop operations. The relevant proposals are close to being passed by a full vote, and the agreement will enter the shutdown process. Faced with increasing competition from prop AMMs, Lifinity presented a governance proposal for the survival of the agreement to its community. According to the proposal, Lifinity DAO's treasury assets worth approximately $42 million will be consolidated into USDC and distributed pro rata to LFNTY token holders. Additionally, the team's remaining $1.4 million in development capital will also be distributed. According to community estimates, holders can expect to earn between $0.9 and $1.1 per token, based on treasury book value. LFNTY and velFNTY holders are advised to convert their tokens to xlNFTY before redemption. It is expected that the claim function for exchanging xlNFTY to USDC will go live in about 9 days, provided that the security audit is passed by Sec3. Since its launch in February 2022, Lifinity has accumulated over $149 billion in transaction volume, making it the fifth largest DEX in Solana's history.

246d ago

Loopscale: Withdrawal logic and bug fixes have been audited, and Vault withdrawals are scheduled to be reopened tomorrow

Comparatively, Loopscale released a hacking incident update on the X platform, which revealed that the withdrawal logic and bug fixes have been audited by security company Sec3 and an independent auditor. The Vault withdrawal function will be reopened to all users at 10:00 a.m. EST tomorrow, and an incident analysis report will also be released. To maintain the stability of the agreement, it is anticipated that there will be a temporary 24-hour limit on each user's withdrawal limit.

471d ago

[Weekly Web3 News Picks] “New Debt King” Jeffrey Gundlach: Gold's rise is far from over, and the price may break through $4,000; the Federal Reserve keeps interest rates unchanged, and the bitmap shows that it is expected to cut interest rates twice in 2025; PlanB: Currently not a bear market; Bitcoin may break the four-year cycle and rise to 160,000 US dollars this year

Weekly Web3 News Picks: [“New Debt King” Jeffrey Gundlach: Gold's rise is far from over, and the price may break through $4,000] Comparative News, Jeffrey Gundlach (Jeffrey Gundlach), founder and CEO of Dual Tier Capital, known as the “New Debt King,” said that the rise of gold is far from over, and the price of gold may break through $4,000. In his new macroeconomic outlook speech, Gunlak emphasized the continued price momentum of gold as other commodities. Precious metals-backed cryptocurrencies, including PAXG and XAUT, have been benefiting from their historic price increases. He said, “I think the price of gold will rise to $4,000. I'm not sure if this will happen this year, but I think it's like a step-by-step trend. It's an expected increase in gold prices after a long period of consolidation around $1,800.” His predictions stem from a shift in central bank strategy. Central banks around the world have been increasing their gold reserves, reversing the continuous decline in gold reserves. According to International Monetary Fund data provided by Gunlak, total global gold reserves have climbed from a low of around 34 billion SDR in 2010 to 40.9 billion SDR, reaching levels between 1975 and 1980. [The Federal Reserve keeps interest rates unchanged, and the bitmap shows that it is expected to cut interest rates twice in 2025] Comparing news, the Federal Reserve kept the benchmark interest rate unchanged at 4.25%-4.50%, in line with market expectations. The Federal Reserve's bitmap shows that interest rates are expected to be cut twice in 2025 (two interest rate cuts were expected in December last year). [PlanB: Currently not a bear market; Bitcoin may break the four-year cycle, rising to $160,000 this year] In comparison, cryptocurrency analyst PlanB posted an article on the X platform today that although some people are calling for a bear market, he does not agree. He pointed out that Bitcoin's 200-week arithmetic average and geometric mean have continued to be close over the past year, which indicates a decrease in volatility and a steady upward trend. According to the data, the price of Bitcoin rose from $20,000 to $40,000 in 2023, and from $40,000 to $80,000 in 2024. PlanB further speculates that if this steady upward trend continues, the price of Bitcoin could reach $160,000 in 2025, $32 million in 2026, $64 million in 2027, and so on. He believes that if this happens, it may mean that the traditional four-year bull and bear cycle will end early. Although this is earlier than his previous expectations, it is more in line with the characteristics of a mature market. PlanB also emphasized that a real bear market (represented by the convergence of the arithmetic mean and geometric mean) will only occur after a real bull market (represented by the divergence of the arithmetic mean and geometric mean), and he believes that there is currently no real bull market. [EOS will change its name to Vaulta, focusing on Web3 banking] In comparison, EOS Network announced that it will change its name to Vaulta and shift its focus to Web3 banking. The transformation is accompanied by a token exchange that is expected to be scheduled at the end of May. At the same time, the Vaulta Bank Advisory Board was launched, a team of financial and blockchain industry experts dedicated to bridging the gap between traditional banking and decentralized systems. The committee members include executives from Confidence Trust, Tetra, and ATB Financial. Vaulta plans to preserve its technical infrastructure from EOS Network, including smart contract architecture, decentralized databases, and interblockchain connectivity. As part of its Web3 banking initiative, the platform will integrate with Bitcoin-focused digital banking solution ExSat. Vaulta will use multiple partnerships with Ceffu, Spirit Blockchain, and Blockchain Insurance to expand its Web3 banking ecosystem. [Reuters: Fintech and crypto companies seek banking licenses under the Trump administration] According to Reuters, more and more fintech and cryptocurrency companies are applying for state or federal bank licenses in the US with the aim of expanding their business in the context of the Trump administration being more crypto-friendly. Industry executives said discussions and applications for licences were remarkable...

517d agoAlvin Liu#Weekly review of the comparison

[Comparative Daily News Picks] Trump calls on Congress to pass stablecoin legislation; NYSE Arca applies to the US SEC to add a pledge function to the Bitwise Ethereum ETF; US SEC: PoW mining does not constitute a securities issuance

Web3 news selected by the editor every day: [Trump Calls for Congress to Pass Stablecoin Legislation] Comparative News, US President Trump called on Congress to pass stablecoin legislation at the New York Digital Asset Summit. He also said, “The US is already ahead in the field of cryptocurrency and next-generation fintech. We're ending the last government's regulatory war on cryptocurrencies and bitcoin.” [NYSE Arca applies to the US SEC to add a pledge function to the Bitwise Ethereum ETF] In comparison, NYSE Arca, a subsidiary of the New York Stock Exchange, has submitted proposed rule changes (19b-4 application file) to the US Securities and Exchange Commission (SEC) to amend the BitWise Ethereum ETF to allow Ethereum held by the trust to be pledged. The SEC issued this notice to solicit opinions from interested parties on the proposed rule changes. [US SEC: PoW mining does not constitute securities issuance] In comparison, the US Securities and Exchange Commission (SEC) issued a statement on March 20 that cryptocurrency mining activities based on the Proof of Work (PoW) mechanism do not constitute securities issuance, so there is no need to register in accordance with the Securities Act. The statement pointed out that whether miners mine independently or through mining pools, the rewards they receive are direct returns for contributing to their computing resources, not based on other people's management or operating profits, so they do not meet the definition of an “investment contract.” The SEC emphasized that the certification only applies to specific types of mining activities, and other transactions involving crypto assets still require case analysis. [Pump.fun launches DEX called PumpSwap, which can transfer graduation tokens instantly] In comparison, Solana-based meme coin publishing platform Pump.fun has launched a native decentralized exchange (DEX) called PumpSwap. After completing its binding curve, Pump.fun's tokens will be transferred directly to PumpSwap, apparently skipping the step of migrating to Solana-based decentralized exchange and automated market maker (AMM) Raydium. [“New Debt King” Gunlak: The probability that the US economy will fall into recession is higher than 50%] Comparing the news, “New Debt King” Gunlak said in an interview that he believes the possibility of the US economy falling into recession is between 50% and 60%, far higher than most people expected. Gunlak said tariffs are likely to cause inflation. Gunlak said it's hard to imagine how the inflation rate could stabilize at the Federal Reserve's target level of 2%. [Bernstein lowered the target price of several listed Bitcoin mining companies, and the target price of BTC remained unchanged at the end of the year] In comparison, the brokerage firm Bernstein lowered the target prices of several listed Bitcoin mining companies, including IREN, CleanSpark, and Riot Platforms, because the stock price performance of these companies so far this year has fallen far short of BTC. Analyst Gautam Chhugani explained that Bitcoin mining companies experienced painful adjustments this year, falling 20-40%, while Bitcoin fell 10%. Overall, the price trend of listed mining companies was disappointing. There was no significant increase in the fourth quarter of last year, and the performance so far this year is worse than Bitcoin's adjustment. Twitter: https://twitter.com/BitpushNewsCN比推 TG Community: https://t.me/BitPushCommunity比推 TG Subscriptions:... https://t.me/bitpush

519d agoWendy#Compare Daily Picks

US SEC: PoW mining does not constitute securities issuance

Comparatively, the US Securities and Exchange Commission (SEC) issued a statement on March 20 that cryptocurrency mining activities based on the Proof of Work (PoW) mechanism do not constitute securities issuance, so there is no need to register in accordance with the Securities Act. The statement pointed out that whether miners mine independently or through mining pools, the rewards they receive are direct returns for contributing to their computing resources, not based on other people's management or operating profits, so they do not meet the definition of an “investment contract.” The SEC emphasized that the certification only applies to specific types of mining activities, and other transactions involving crypto assets still require case analysis.

519d ago

RootData: Which agencies love to lead investors? Which agencies are taking the most action this year?

This article will explain the influence and level of activity of cryptographic institutions from data such as cumulative lead investment and number of launches in 2023. Among them, institutions such as Foresight Ventures, Hack VC, and Bitkraft Ventures showed a more active attitude. Author of the original article: Gu Yu & Cookie For venture capital institutions, the number of shots taken is one of the important criteria for measuring their activity, and leading investment is one of the core elements of measuring their financial strength and belief, which is essential to drive the development progress of the project. In this article, RootData will use its database to count the number of orders and lead investors of venture capital firms this year to help readers better understand the current state of crypto venture capital firms. Historical top 10 leading investors, data source: RootData Since 2023, RootData statistics, 13 crypto venture capital firms have led more than 5 rounds this year, namely a16z Crypto, Polychain, Dragonfly, Blockchain Capital, Shima Capital, Hack VC, Binance Labs, Bitkraft Ventures, Jump Crypto, Blockchange Ventures, Hashed, Foresight Ventures, Greenfield Capital. Unfortunately, Pantera Capital, Paradigm, Multicoin Capital, and Framework Ventures are no longer on this list. Meanwhile, institutions such as Foresight Ventures, Hack VC, and Bitkraft Ventures showed a more active attitude. This article will explain the influence and level of activity of cryptographic institutions from data such as cumulative lead investment and number of launches in 2023. Crypto venture capital institutions that have invested more than 5 times in 2023 have led crypto venture capital firms that have invested more than 5 times in 2023. Data source: RootDataA16z CryptoA16z Crypto, as an Andreessen Horowitz (a16z) special fund, focuses on investments at all stages of Web3. So far, the capital management scale has exceeded 7.6 billion US dollars. The agency's well-known projects include Uniswap, OpenSea, Optimism, Lido, and Yuga Labs. Prior to the advent of cryptocurrencies, a16z had great success investing in companies such as Airbnb, GitHub, Skype, Stripe, and Twitter. a16z Crypto has led a total of 109 investments and invested in 15 projects this year, including 11 leading investments, including LayerZero, Worldcoin, YGG, etc. PolychainPolychain is a major global investor in cryptocurrency protocols and companies. In a Forbes 2022 interview with its founder, Polychain's capital reached $5 billion in 6 years, growing 1,250 times. Polychain is also an early investor in DeFi, such as Uniswap, Compound, MakerDAO, dYdX. Polychain has led 90 investments and has invested in 15 projects this year, including well-known projects such as Scroll, EigenLayer, PolyHedra, Berachain, and Connext. Dragonfly Dragonfly (already known as Dragonfly) is a leading global investment institution focused on cryptography, including Dragonfly Ventures, Dragonfly Liquid, and Metastable. Dragonfly launched a total of 3 crypto funds, which raised 1, 200, and 650 million US dollars respectively. The investment style is mainly DeFi. Its founder Feng Bo is a well-known investor in China. Dragonfly has led a total of 53 investments and has invested in 13 projects this year, of which...

1107d agody zhang#ANKR #Atom #Bitkraft Ventures #COMP #DeFi #DOT #Foresight Ventures #Hack VC #LEO #Lido #NFTs #OpenSea #optimism #Polychain #RootData #SOL #Uniswap #WEB3 #Yuga Labs #Ethereum

Wu said Weekly Picks: The Federal Reserve raised interest rates by 25 bps, the launch of the Nostr-based Damus social network and the top 10 news stories (0127-0203)

Author | Wu Says Blockchain Lily's Top 101 News This Week. The Federal Reserve announced a 25 bps rate hike as scheduled. The statement stated that the committee decided to raise the target range of the federal funds rate to 4.5% to 4.75%, and raise the target range to return inflation to 2% over time. Markets expect the Federal Reserve to raise interest rates again in March and May. The cryptocurrency briefly rose after the FOMC publication, and Ethereum rose 2.6% in 1 hour. 2. Damus's Weekly Update a. Decentralized social network Nostr launches DamusTwitter co-founder Jack Dorsey, the decentralized social network Nostr, who previously donated BTC, has launched an app called Damus on the Apple App Store and Google Play Store. Jack also changed his Twitter introduction to a #bitcoin #nostr，并附上了其 Damus address. b. On the first day of launch, the Nostr-based Damus social network created more than 40,000 new accounts and generated public and private keys will follow Damus's official account by default. Currently, the account has more than 40,000 followers, and is still growing. c. Damus has been removed from the App Store in mainland China Damus, a decentralized social networking app based on the Nostr protocol on February 3, has been removed from the App Store in mainland China. Damus signed in to the App Store on February 1 and quickly reached the top ten free social networking apps in the US App Store. Damus said it was notified that your app will be removed from the China App Store in accordance with the requirements of the CAC (China Internet Administration) because it contains content that is illegal in China, which does not meet the App Store review guidelines. 3. WeChat, Alipay, Binance, etc. participated in the Hong Kong Monetary Authority's cryptocurrency and stablecoin regulatory consultation. The Hong Kong Monetary Authority today released a consultation summary of a discussion paper on crypto assets and stablecoins. It is recommended that certain activities related to stablecoins be included in regulation, and the expected scope of supervision and main regulatory requirements are explained in the summary document. Key regulatory requirements include full support and fair redemption; regulated entities must not engage in activities different from their main business (such as borrowing) as permitted by their relevant license; and the need to apply for a license. Notably, the document shows that Binance, Deloitte, Alipay, Animoca, Circle (USDC issuer), HSBC, Mastercard, Xinhuo Technology, WeChat, etc. all provided suggestions for participating in the Hong Kong Monetary Authority's “Cryptocurrency and Stablecoin Discussion Paper”. 4. Amazon Web Services (AWS) is hiring Web3 business market experts Amazon Web Services (AWS) is hiring Web3 Go-To-Market team members responsible for increasing adoption of Web3 workloads on AWS. Job requirements include understanding blockchain-based architectures and developer workflows, and in-depth understanding of blockchain applications in gaming technology, use cases, and architectures. 5. Circle Releases December 2022 Reserve Report Circle publishes the December 2022 Reserve Report audited by GrantThornton Accounting Group, detailing the current composition of the Reserve Bank. Of this, 44,553,543,212 USDC is supported by $44,693,963,701 in escrow accounts, a significant portion of which is US Treasury bonds. Circle's reserve fund is registered as a government money market fund, which is wholly owned by Circle and includes 14 different US bonds worth over $23.5 billion, and also holds $48.9 million in cash. 6. MetaMask updated the privacy and security settings feature MetaMask updated the privacy and security settings feature, and users can now change their RP by “setting advanced privacy” when creating a new wallet...

1295d agody zhang#Damus #Nostr #Wu says blockchain is real #Binance #Bitcoin

Blockchain security company Sec3 closes $10 million seed round led by Multicoin Capital

According to Twitter News, Sec3, a blockchain security company that audits smart contracts and other services, announced that it has raised $10 million in a seed round led by Multicoin Capital and the participation of Sanctor Capital and Essence VC. Several angel investors, including former ParaFi Capital partner Santiago Santos and Solana co-founder Anatoly Yakovenko, also joined the funding round. Sec3, formerly Soteria, is also publicly launching its products today. Until now, the company only serves private clients. Sec3 offers four products—Launch Drillers, X-Ray, CircuitBraker, and WatchTower—that can be used across project phases, and Sec3 plans to continue building and improving its products with the new funding available. Chris Wang, co-founder and president of Sec3, said: “We are the only audit firm that provides security solutions before, during, and after the launch of the Solana project.”

1299d agoWendy#Multicoin Capital #ParaFi Capital #Sanctor Capital #Sec3

After falling deep into FTX's predicament, how did Solana deal with internal and external concerns?

Trust me right now, no one can understand the weight of the phrase “confidence is more important than gold” than Solana, and Solana will continue to be affected until the FTX incident ends. Authors: Nian Qing, Flowie, ChainCatcher was as beautiful as last year's peak. Solana hosted the 2nd Breakpoint Summit in Lisbon from November 3 to 7 this year, which was much more low-key. But what is even more surprising is that on November 8, as the FTX situation took a sharp turn, Solana, who had not recovered from the joy and exhaustion of the successful conclusion of the conference, was quickly held hostage by the FTX hurricane, hastily and embarrassingly coped with the secondary crisis brought by the FTX thunderstorm, leaving aside her relationship with FTX and pulling people to the stage. Solana originally faced many challenges this year: a cold crypto winter, ongoing outages, unprecedented large-scale attacks on ecosystem projects, and head-on competition between the new public chains Aptos and Sui. In the face of these challenges, Solana has also been looking for solutions: finding downtime solutions, seeking EVM compatibility, expanding capacity through L2, and launching the Solana phone Saga. During Breakpoint, Solana plans to use GameFi as a new anchor. Despite having an active and strong ecosystem, Solana has always been criticized as a “VC chain” where capital such as a16z, Polychain, FTX Venture, and Jump Crypto took the throne. After FTX went bankrupt, could the struggling Solana ecosystem withstand this unprecedented “stress test”? 1. “VC Chain” did not have VC. During the Breakpoint period, Solana announced a series of collaborations with platforms such as Google Cloud, Circle, Helium, and Ledger. This continued positive news also caused the price of SOL tokens to rise by more than 20% during the Breakpoint period. Soon, however, on November 7, Breakpoint was not over, and the Solana token price continued to plummet as FTX tried to withdraw large amounts of coins from second-tier exchanges to supply FTX hot wallets to cope with large-scale crowds. Data source: CoinMarketCapSBF has been inextricably linked to Solana for a long time. Its Alameda Research was one of Solana's early investors and contributed to the birth of Solana's early ecosystem projects such as Serum and Oxygen. When Solana institutional investor tokens were unlocked at the beginning of last year, SBF also purchased all of investors' SOL assets via OTC at a price of 3 dollars, and has also invested heavily since then Solana ecosystem project Solana's PR on the FTX incident was slightly awkward. On the 9th, Solana Labs co-founder Tory tweeted: “Solana Labs has no assets on FTX.” It also specifically emphasized that Solana is an “American” company. Subsequently, Solana Labs, Solana leaders, and founders began shouting the slogan “calling” to the community to get through difficult times and seek help from “family and friend groups” such as investors and ecological projects. Jump Crypto President Kanav Kariya, Kin Ecosystem, Teleportxyz, and Magic Eden began to stand on Solana's platform one after another, expressing long-term optimism about Solana. However, the crisis is still spreading, and projects in the Solana ecosystem have begun to experience liquidity crises one after another. The loan agreement Solend accumulated millions of dollars in bad debts after the SOL price dropped sharply, the revenue aggregator Tulip Protocol suspended deposits, and the Solana NFT ecosystem triggered a wave of sell-offs... To cope with the panic, Solana developed speculation data to strongly prove to users the strength and future potential of its ecosystem. It wasn't until November 14 that the Solana Foundation officially released data and facts relating to the FTX bankruptcy: FTX.com stopped processing withdrawals as of November 6...

1375d agody zhang#a16z #BNB Chain #DeFi #FTX Venture #Jump Crypto #NFTs #Polychain #Saber #Solana #SolanaFM #Solend #Solice #WEB3

Wall Street Journal: The US SEC may be heavily responsible for the FTX incident

Comparatively, according to the Wall Street Journal, quoting the Harvard Law School Capital Market Supervisory Committee, the “Employee Accounting Bulletin” issued by the US Securities and Exchange Commission (SEC) in March requires banks that have custodial assets and their affiliated brokerage dealers to include the escrow assets in their balance sheets, or be responsible for users' losses in the FTX incident. This regulatory framework allows unregulated crypto trading platforms to hold or “host” crypto assets without the need for banks and brokers to keep them, prevent misuse of funds and ensure that customers can recover all of their funds, leaving users only to become creditors of the trading platform's bankruptcy, or to cost FTX users billions of dollars.

1376d agoLuxurytracy#FTX #SEC