Floki revealed in the latest AMA that it will consider canceling the 0.3% contract fee, but specific evaluations are needed, including: 1. Check the data to evaluate whether canceling the contract fee will have any meaningful impact; 2. Discuss within the core team whether canceling the contract fee is beneficial; 3. Submit a proposal to and vote on it with Floki DAO, and ultimately make a decision by Floki DAO.
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Gamified on-chain trading platform Spotlight has announced the completion of a $2 million financing round with participation from Folius Ventures. Spotlight focuses on discovering and planning high-quality DeFi projects, guiding users to identify promising DeFi opportunities through expert analysis and insights. In addition, its trading platform, Spotlight Market, uses gamification to attract users and increase the liquidity of on-chain and off-chain assets.
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On March 27th, Aavegotchi founder CoderDan posted on social media that Pixelcraft Studios, the development team of Aavegotchi, had briefly hired Munchables attackers in 2022 to do some game development work. His skills were quite crude and felt like a North Korean hacker. We fired him within a month. He also tried to get us to hire his friend, who was likely also a hacker.
CoderDan added that Pixelcraft Studios had some video calls with him at the time, but they were not recorded, and it is unclear whether Google recorded all the video calls internally, but the hacker did show his face.
Finally, CoderDan provided Munchables with the common addresses of the hacker when he worked at Pixelcraft Studios, hoping that these clues would help Munchables recover their funds.
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Ethos is being developed as a "verification service" on EigenLayer, aimed at strengthening the security of the Cosmos chain by leveraging Ethereum staking. The project is working with multiple liquidity re-staking protocols to allocate Ethereum staking to protect the Cosmos chain, accumulating security commitments worth $4 billion, including protocol commitments from EtherFi, Puffer, Renzo, Swell, and Kelp, which will transfer their staked Ethereum controlled by EigenLayer to Ethos.
Ethos's launch plan is synchronized with the launch of the EigenLayer mainnet and is currently in the testnet phase, expected to be launched in the second quarter of this year. Ethos is a secure coordination layer that enables the Cosmos chain to easily launch a verification network and utilize the economic security of Ethereum staking.
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According to Coingecko data, the market value of BCH has risen to the range of $12.5 billion, currently reaching $12,491,359,675, hitting a new high since November 2021. The current BCH price is $631.67, with a 30.1% increase in the past 7 days. According to BTC.com data, there are less than 10 hours left until the BCH halving.
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On March 30th, according to official sources, DEGEN's Airdrop 2 Season 2 rewards will go live at 23:00 Beijing time. Note: The token distribution rules for DEGEN's first season Airdrop were based on Farcaster users' likes, shares, and followers, and they received corresponding Degen points. Holding some community-related NFTs also earns additional boost points. Each point can receive one DEGEN token.
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Backpack has now launched TNSR spot trading, in addition, the TNSR token airdrop application checker has been launched on Backpack Wallet.
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Do Kwon, co-founder of Terraform, will be released from prison in Montenegro, but due to several criminal charges brought by national authorities, he will remain in the Balkans. The High Court of Montenegro ordered the confiscation of Kwon's passport on Friday to prevent him from leaving the country. According to the court's order, Kwon will leave Spuž prison on Saturday. The prosecutor opposes extraditing Kwon to South Korea and would prefer him to be sent to the United States, where he could face a longer sentence if convicted.
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According to Andre Cronje's article on X platform regarding a new trading mechanism in the cryptocurrency industry, a new infrastructure is currently gaining a lot of attention and is being integrated into what he believes is a low-risk protocol. However, based on his (possibly incorrect) understanding, this new protocol carries a very high risk.
He discusses the components of this mechanism in detail, including the characteristics of perpetual contracts such as the ability to trade without holding the trading asset, both buyer and seller paying a "funding rate," and using stETH as collateral. He attempts to achieve "neutrality" by opening relative positions while benefiting from stETH returns and funding rates.
Cronje states that he is not a trader and acknowledges that this is not his area of expertise. However, he tries to compare these financial tools with the most basic financial concepts he knows, such as collateral and debt, and points out the risk of eventually having to close positions or face liquidation.
He raises a question about the theory of "positions being closed when the market reverses," which is similar to the saying "buy when BTC rises and sell when it falls," which sounds obvious but is almost impossible to achieve in practice. Therefore, although everything is going smoothly now (because the market is positive and the short funding rate is positive (because everyone is willing to go long)), the situation will eventually change, and the funding (rate) will become negative, collateral will be liquidated, and you will have an unsupported asset.
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Multicoin Capital's annual investor letter shows that since 2017, the hedge fund focused on cryptocurrency has brought a return of 9281% to its first batch of investors. This return is enough to make up for Multicoin Capital's previous loss of 91.4% in 2022.
Multicoin executives Tushar Jain, Kyle Samani, and Matt Shapiro stated in the letter that in 2023, cryptocurrency did what it does best and once again defeated death. The market rebounded in an astonishing way, and our hedge fund was able to capture the market's reaction, significantly outperforming the market.
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According to official sources, Jupiter has initiated the first Core Working Group budget proposal vote. It is reported that this vote is crucial for establishing a precedent for funding workgroup initiatives to promote DAO. The Core Working Group spent a week discussing with the community and submitted a budget proposal for 2024 to DAO. JUP stakers can now vote to provide funding for the Core Working Group, with an expected 12-month budget of $450,000 and a token allocation of 4.5 million JUP. According to the proposal voting information, this vote is expected to end on April 2.
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The Cook Capital published market insights on X platform: This Friday is the quarterly big delivery day, with 41% of BTC options and 46% of ETH options expiring and delivering, with a total delivery amount exceeding 15 billion US dollars. Both in proportion and value, it is almost the largest quarterly delivery in history. Such a large-scale delivery will undoubtedly bring the release of a huge amount of margin, which will have an impact on the current market institutions.
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