PA Daily | Zhejiang encourages platform companies to participate in digital renminbi pilots; Spark Protocol will expand to multi-chain

Today's news tip:

1. The British House of Lords passed the "Economic Crime and Corporate Transparency Act", which will help law enforcement agencies seize crime-related cryptocurrencies

2. Zhejiang: Encourage platform companies to participate in digital renminbi pilots

3.Memeland: False MEMECOIN appears on OpenSea, please do not mint

4. Spark Protocol, a DeFi lending protocol under MakerDAO, will expand to multi-chain

5.SSV.Network: Mainnet launch will be carried out in four stages from Q2 to Q4

6. Tencent News "Periscope": Binance has docked with Hong Kong regulatory authorities in recent months; the "entry ticket" for the license application is at least 100 million Hong Kong dollars

7. Binance issued an update to suspend the recharge and withdrawal of Multichain cross-chain bridge tokens

8. CertiK report: A total of 212 security incidents occurred in Q2 this year, causing a loss of 310 million US dollars

Regulatory News

UK House of Lords Passes Economic Crime and Corporate Transparency Bill to Help Law Enforcement Seize Crime-Related Cryptocurrencies

The UK House of Lords passed the Economic Crime and Corporate Transparency Bill on Tuesday, which will help law enforcement agencies seize and freeze cryptocurrencies used in crimes, CoinDesk reported. In March, the U.K. government said cracking down on crimes involving cryptocurrencies was part of its three-year economic crime agenda. The UK has added crypto strategy advisers to police forces across the country to help identify and seize crime-related digital assets. Approval in the House of Lords means the bill will return to the House of Commons for its final stage of consideration. Once both houses agree to the bill, the king will need to sign it into law.

Insider: ASIC to investigate Binance's shuttered local derivatives business

The Australian Securities and Investments Commission (ASIC) has raided the offices of Binance to investigate its now-shuttered local derivatives business, according to people familiar with the matter. ASIC’s review of derivatives business includes Binance Australia’s classification of retail and wholesale clients.

Prior to the news on April 6, the derivatives financial services license of the Binance Australia branch has been revoked.

NFT

! [PA Daily | Zhejiang encourages platform companies to participate in the digital RMB pilot; Spark Protocol will be extended to multiple chains] (https://img-cdn.gateio.im/social/moments-69a80767fe-cb8807214a-dd1a6f-7649e1)

Memeland: Fake MEMECOIN appears on OpenSea, please do not mint

The NFT project Memeland said in its official tweet that a fake MEMECOIN appeared on the NFT trading market OpenSea, and has contacted the OpenSea platform about the issue, reminding users not to mint the fake MEMECOIN, and can initiate a fraud report to the platform. Memeland added that the listing of fake MEMECOIN may be a bug in the OpenSea platform.

Moonbirds Lianchuang: The reward system will be launched soon, and the reward token TALONS will contain a variety of use cases

Kevin Rose, the co-founder of the NFT project Moonbirds, updated the progress of the project on Twitter, saying that the reward system connecting creators and collectors will be launched soon, and the reward token TALONS will include the following use cases: 1. Eligibility to participate in exhibitions and cooperation planned by PROOF; 2. The right to purchase limited peripheral products; 3. The right to access exclusive events, such as private dinners, podcast recordings, etc.; 4. The right to access PROOF original collection experiments; 5. The white list of future projects and foundry qualifications; 6. Other experiments Eligibility for sexual experience, such as Moonbirds customization, etc.

In addition, Moonbirds will launch The Foundry, an experimental physical space in Los Angeles, and will soon launch a new NFT series, Mythics. Kevin Rose said: "We have never wavered in the need for each product to realize our vision of providing experiences for creators and collectors, which includes Talons and Mythics. But the core product of PROOF should be a more unified product. "

According to NFTGo.io data, the floor price of Moonbirds NFT series is currently 1.67 ETH, a 24-hour increase of 20.24%.

Project News

Rocket Pool Responds to Lido Members’ Accusation of Being “Too Centralized”: This Problem Has Been Known for a Long Time, Saturn Upgrade Will Solve Related Vulnerabilities

A team member of liquid staking protocol Lido accused rival Rocket Pool of being too centralized in a July 4 social media post, Cointelegraph reported. Dmitry Gusakov, head of Lido community pledge, said in the post that the Rocket Pool contract is controlled by the Rocket Pool team, allowing the team to change any parameters and call any method, which means that Rocket Pool developers can increase the inflation rate to any large percentage, Or increase the fee up to 100%. Gusakov claimed that this vulnerability does not exist in Lido's contracts, because in Lido, these actions are "entirely controlled by the decentralized autonomous organization LidoDAO." According to Gusakov's post, the RocketStorage contract (Ethereum address starting with 0x1d8f) contains a parameter called "guardian", and many functions in the Rocket Pool contract are also marked as "onlyGuardian", which means that they can only be used by this parameter Called with the account listed, this parameter is currently set to the RocketPool deployer account.

Waq, a member of the Rocket Pool grant management committee, responded to the allegations, saying the team was aware of the bug and would fix it in the future. Waq accused the Lido team of trying to take credit for discovering a known issue. Rocket Pool community advocate Jasper.lens said: "The community is aware of this centralization problem and will fix it in the upcoming Saturn upgrade. This problem occurred while the DAO voting system was still being designed and tested. The DAO is not allowed to vote on-chain during the testing phase, the testing is now complete, and the upcoming Saturn upgrade is meant to fix the decentralization loophole.”

MakerDAO's DeFi lending protocol Spark Protocol will expand to multi-chain

MakerDAO announced on Twitter that its DeFi lending protocol Spark Protocol will be extended to multi-chains, and announced the steps and procedures for those interested in deploying Spark Protocol in specific domains (each blockchain network).

To deploy Spark Protocol in a new domain, you need to create a post on the Maker forum under the SubDAO TWO category (background information, technical information, collateral information, liquidity information, etc. are required). Phoenix Labs will evaluate submitted proposals and provide MakerDAO with recommendations on new domains and collateral information to include. Block Analitica will perform collateral assessment and recommend risk parameters for collateral in Spark on the new domain.

SSV.Network: The main network launch will be carried out in four stages from Q2 to Q4

The Ethereum staking infrastructure SSV.Network has released the mainnet launch plan. The mainnet launch will be carried out in four stages from the beginning of the second quarter to the fourth quarter of this year, namely pre-launch, limited launch, launch, and permissionless launch.

"Pre-launch" phase: Deployment of mainnet validators for internal testing, currently in this phase, validators live on mainnet. "Limited Launch" phase: Bringing in external operators, including industry-leading staking and infrastructure providers, to test the expansion of external operators on mainnet. "Launch" phase: More builders (staking providers and applications) will be allowed to join validators, i.e. external TVL and operators such as staking pools, services, institutional level stakers. "Permissionless launch" phase: SSV.Network is fully open and permissionless through smart contracts.

Tencent News "Periscope": Binance has docked with Hong Kong regulatory authorities in recent months; the license application "entry ticket" is at least 100 million Hong Kong dollars

According to Tencent news "Periscope", in the past few months, most of the top encryption companies with Chinese backgrounds have found people to come to Hong Kong to connect with the regulatory authorities, including the wallet company Cobo under Shenyu Maoshixing and Zhao Changpeng's Binance. Group etc.

According to the report, the cost required before submitting an application for a license for a cryptocurrency trading platform in Hong Kong is at least about 100 million Hong Kong dollars. Except for the cost of management personnel, most of the cost belongs to system technology. But this is just an entry ticket to apply for a trading platform license in Hong Kong. In addition, in the near future, Hong Kong will also introduce issues related to stable currency licenses, and even discuss diversified virtual currency derivatives, such as spot bitcoin ETFs.

In addition, it is reported that OSL, one of Hong Kong's existing local compliance exchanges, has decided to withdraw and has been looking for buyers in the market after the Spring Festival this year, but so far no one has accepted the offer. As of press time, OSL has not been able to comment on the news. The exchange is affiliated to BC Technology Group, a Hong Kong-listed company. The company's 2022 financial report shows that the company's losses continue to increase. Among them, OSL's cryptocurrency revenue in 2022 is 71.48 million Hong Kong dollars, which is only about one-third of the previous year's 270 million Hong Kong dollars.

Starknet v0.12.0 is expected to be deployed to the mainnet on July 12

The Ethereum Layer 2 network Starknet was deployed on the Georli testnet on July 4th to launch Starknet alpha v0.12 voting. Test voting has now begun and will end on July 6. After that, the official voting of Starknet v0.12 will be held, which is expected to end on July 10. After the freeze period on July 11, it is expected to deploy v0.12.0 to the mainnet on July 12 according to the voting results.

According to previous news, the upcoming Starknet v0.12.0 release focuses on increasing the throughput of the network to improve scale and transaction latency.

Binance issued an update to suspend the deposit and withdrawal of Multichain cross-chain bridge tokens

According to the official announcement, Binance will suspend the recharge and withdrawal of Multichain cross-chain bridge tokens minted through the following networks from 08:00 on July 7 until further notice: Polkastarter (POLS) via BNB Smart Chain, via Alchemy Pay (ACH) via BNB Smart Chain, Beefy.Finance (BIFI) via Fantom Network, SuperVerse (SUPER) via BNB Smart Chain, Travala (AVA) via Ethereum Network, Spell Token (SPELL) via Avalanche C-Chain ), Alpaca Finance (ALPACA) through Fantom Network, Harvest Finance (FARM) through BNB Smart Chain.

Binance mentioned that due to the recent situation of the Multichain (MULTI) protocol, Binance has suspended support for the recharge business of multiple Multichain cross-chain bridge tokens on May 24, 2023.

Zhejiang: Encourage platform companies to participate in digital renminbi pilots

Zhejiang issued the "Implementation Opinions on Promoting the High-quality Development of the Platform Economy", which mentioned that innovation in the future scenarios of the platform economy should be encouraged. Encourage platform companies to use innovative technologies such as blockchain, digital twins, and extended reality to create future-oriented multiple application scenarios. Accelerate the construction of new advantages in the future industry of the Metaverse, support diversified entities to build a comprehensive test platform for the Metaverse, strengthen the application of the Metaverse in multiple scenarios, and promote the chain, scale, and internationalization of the Metaverse industry in an all-round way. Encourage platform companies to participate in digital renminbi pilots, and deepen pilot applications in scenarios such as retail transactions, living bill payments, and government services.

The opinion mentioned that platform enterprises should be supported in technological innovation. A number of major landmark achievements have been made in the fields of blockchain and processors. Promote the construction of computing power infrastructure, optimize the layout of artificial intelligence computing power platforms, strengthen algorithm innovation and application, and build an algorithm transformation and application ecology. Establish platform data and algorithm management rules. Explore the construction of an algorithm security governance system, and implement regulatory measures such as an algorithm filing system, hierarchical and classified management, and algorithm security assessment.

HKVAC, a virtual asset rating agency in Hong Kong, officially invites members to join

HKVAC, a virtual asset rating agency in Hong Kong, officially announced that it invites virtual asset exchanges, virtual asset-related institutions and financial institutions from all over the world to join HKVAC as members to jointly promote the development of the industry. HKVAC's membership system will include the following three types of members: (1) virtual asset exchange members; (2) virtual asset members; (3) financial institution members.

HKVAC will provide exchange ratings, use indexes, and join the HKVAC Industry Development Association and other rights and interests after successful membership.

The Aave community voted on the proposal to convert 1,600 Ethereum in the treasury to wstETH and rETH

The Aave community is voting on the proposal to convert Ethereum to wstETH and rETH in treasury fund management. The proposal proposes to convert 1600 Ethereum to wstETH and rETH to obtain additional income. The proposal states that awETH deposit yields in Aave v2 will be 1.69%, compared to 3.8% for wstETH and 3.13% for rETH. The proposal has received support from more than 252,000 votes, and the voting will end at 16:22 on July 7, 2023.

Finance News

Web3Go Completes $4 Million Seed Round Financing Led by Binance Labs

Data intelligence network Web3Go announced the completion of a $4 million seed round led by Binance Labs, with Hashkey Capital, NGC, Shima Capital, IVC, LIF, Big Brain Holdings, and Archerman Capital participating. The new funding will be used to accelerate the development of its Data Intelligence Network (DIN) project.

Important data

Korean media: The LFG wallet held by Do Kwon transferred 5,292 BTC to the new address on July 3, which is about 163 million US dollars

According to Digital Asset reports, on-chain data shows that at 10:19 on July 3, Beijing time, the encrypted wallet held by Terraform Labs CEO Do Kwon, that is, the Binance Wallet of Luna Foundation Guard (LFG), transferred 5,292 BTC (approx. $163 million) were all transferred to a new anonymous wallet whose connection to Do Kwon had not previously been discovered. Previously, the wallet had withdrawn 351 BTC on May 8.

Foreign media: After Voyager opened withdrawals, the outflow of funds reached 134 million US dollars, and Celsius has not yet acted after being allowed to exchange some tokens

Crypto lending firms Celsius and Voyager, which went bankrupt last year, have been given permission to start transferring their crypto assets, but only Voyager has been busy, Blockworks reported. Celsius received court approval to start exchanging altcoins for BTC and ETH starting July 1. Arkham Intelligence monitoring shows that Celsius owned about $600 million worth of cryptocurrencies at the time, of which about 70% of the funds were already in BTC and ETH, and other tokens (excluding stable coins) were about $162 million. From July 1 to July 4, Celsius has yet to move any cryptocurrency.

In addition, starting June 23, Voyager opened its withdrawal service to customers for a month, and on-chain data forwarded by Arkham showed that Voyager’s property controlled nearly $413 million in crypto the day before withdrawals were opened last month. currency. A steady stream of outflows has since brought that figure down to $307.5 million. The 25% drop came despite a near-wide rise in the prices of cryptocurrencies in its portfolio. At current prices, the total value of all outflows is $134 million.

CertiK report: 212 security incidents occurred in Q2 this year, causing a loss of 310 million US dollars

Blockchain security company CertiK has released the Web3.0 industry report for the second quarter of 2023. According to the report, in the second quarter of 2023 alone, the Web3 industry will suffer a loss of US$310 million due to attacks by malicious actors such as hackers and exit scams, which is close to the US$320 million loss in the first quarter and the second largest loss in 2022. The quarterly loss of $745 million was down 58%. Additionally, a total of 212 security incidents occurred during the quarter. There were 54 flash loan and oracle manipulation attacks in Q2, resulting in approximately $23 million in losses, an 89% drop from Q1.

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