Crypto Guides, Knowledge & Insights

This Week's Noteworthy Events(July 8, 2024-July 14, 2024)

SEC Requests Revisions on S-1 Form for ETH Spot ETF Issuers by July 8　　According to The Block, the SEC has returned the S-1 form to potential Ethereum spot ETF issuers with minor comments, asking for revisions to be resubmitted by July 8. This implies at least one more round of filing before the ETF can begin trading.　　Bloomberg analyst James Seyffart mentioned that Bitwise Invest has resubmitted a revised Ethereum ETF S-1 form and expects more issuers to do so this week. Analysts believe the Ethereum spot ETF product may list as early as late next week or the week of July 15.　　Another Bloomberg analyst, Eric Balchunas, commented, “No one really knows why the SEC is taking so long to process these forms. Given the few comments, trading should begin soon. But there might be some issue slowing the process, or its just people on summer vacation. All signs point to listing this month, with more details to come next week.”EOS Staking Program to Launch on July 8 with an Initial 250 Million EOS　　The EOS Network Foundation (ENF) announced on its official blog that, based on the new EOS tokenomics, the EOS staking program will launch on July 8, with an

2024-07-08Deep Dive

CertiK Security Report: $1.19 Billion Lost Due to Security Incidents in H1 2024

Certik, a Web3.0 security agency, has released its quarterly Web3 security report, “Hack3d: Q2 and H1 2024 Web3.0 Security Report.” The report states that in Q2 2024, there were 184 on-chain security incidents resulting in losses of $688 million, representing a 37% increase in losses compared to Q1 2024. The report also highlights that in H1 2024, there were 408 security incidents with total losses amounting to $1.19 billion.Q2 Security Incident Data　　Phishing and private key compromises were the main causes of asset losses in Q2. Out of the $688 million lost in 184 incidents, $99,328,507 was recovered from 7 separate incidents.　　Top 10 Projects by Loss Amount in Q2:　　1. DMM Bitcoin: $304,700,000　　2. BtcTurk: $90,000,000　　3. Phishing Victim (0x1e22): $68,597,540　　4. Lykke: $23,052,860　　5. Gala Token: $21,613,470　　6. Sonne Finance: $20,000,000　　7. UwULend: $19,700,000　　8. Rain: $14,277,950　　9. Phishing Victim (5Fmwfk): $11,522,660　　10. Phishing Victim (0x2154): $10,167,780H1 Security Incident Data　　Phishing and private key compromises were also the main causes of asset losses in H1 2024. Out of the $1.19 billion lost in 408 incidents, $177,728,142 was recovered from 17 separate incidents.　　Top 10 Projects by Loss Amount in H1:　　1. DMM Bitcoin: $304,700,000　　2. Chris Larsen: $112,500,000　　3. BtcTurk: $90,000,000　　4. Phishing Victim (0x1e22): $68,597,537　　5. Munchable: $63,000,000　　6. BitForex: $55,745,130　　7. Play Dapp: $32,350,000　　8. FixedFloat: $26,176,240　　9. Lykke:

2024-07-04Deep Dive

How MegaETH, Backed by Vitalik, Innovates in L2 Space

Since the announcement of the modular open-source frameworks Op Stack by Optimism and Arbitrum Stylus by Arbitrum, the development barriers for Layer2 and Layer3 have significantly lowered, leading to a surge in application projects building their own Layer2 solutions for high-frequency needs.　　Despite the proliferation of Layer2 solutions, it is rare to see a Layer2 project secure $20 million in seed funding from top-tier capital. MegaETH has done so, with a $20 million seed round led by Dragonfly and participation from Figment Capital, Robot Ventures, and Big Brain Holdings. Angel investors include Vitalik, Cobie, Joseph Lubin, Sreeram Kannan, and Kartik Talwar.Real-Time Blockchain　　Creating more chains doesnt inherently solve blockchain scalability issues. Current L1/L2 solutions face common challenges:Low transaction throughput on all EVM chainsLimited ability for complex applications to run on-chain due to scarce computational resourcesInfeasibility of applications requiring high update rates or fast feedback loops due to long block times　　MegaETH aims to address these issues by specializing nodes to achieve real-time settlement and processing. MegaETH claims to be the first “Real-Time Blockchain,” capable of handling over 100,000 transactions per second with sub-millisecond latency.Implementation Method　　MegaETH achieves real-time settlement and processing through node specialization, which reduces consensus overhead by separating transaction execution tasks from

2024-07-03Deep Dive

Tokens with High Unrealized Profits from VC Investments

In the current market, high FDV (Full Diluted Valuation) and low circulating supply token issuance, which started gaining popularity with the FTX exchange, has become mainstream and is favored by VCs. Despite rapid price increases driven by market fluctuations this year, such gains are clearly unsustainable.　　VCs hold substantial unrealized profits with high FDV and low circulation tokens. As these tokens unlock, they flood the market, driving prices down, while market cap remains stable or even increases. The influx of high-valuation tokens outpaces net inflow capital.　　According to a Binance Research report, approximately $155 billion worth of tokens is expected to be unlocked from 2024 to 2030. Without corresponding increases in buyer demand and capital flow, a large influx of tokens will cause sell pressure.　　Tokens with high FDV and low circulation are labeled as “dangerous” by the market.Importance of Tokenomics Design　　Contributors (including teams and early investors) typically receive a proportion of tokens as compensation, locked according to specific vesting schedules. While contributors deserve fair compensation as early developers, its crucial to balance the interests of all stakeholders, especially post-TGE (Token Generation Event) public market investors.　　The circulating ratio at TGE is critical. If too many tokens are locked, it affects liquidity, negatively impacting

2024-07-02Deep Dive

This Week's Noteworthy Events (July 1, 2024-July 7, 2024)

The ASI (AGIX+OCEAN+FET) token merger plan is set to begin on July 1st　　The Artificial Superintelligence Alliance has announced significant updates regarding the ASI token merger.　　Phase one starts on July 1, 2024, with AGIX and Ocean deposits and withdrawals closing across exchanges in preparation for migration. However, FET deposits, withdrawals, and trading will continue as usual. The migration platform from AGIX and OCEAN to FET will be available on the SingularityDAO DApp, allowing holders to convert their tokens to FET at specific rates.　　Phase two involves cross-chain deployment of ASI tokens, upgrading the FET network to the ASI network, opening migration contracts from FET, AGIX, and OCEAN to ASI, launching EVM and other bridges, and transitioning the trading platforms from FET to ASI spot markets.io.net: Ignition Rewards Programs third season begins July 1st　　io.net has announced that the claiming period for Seasons 1 and 2 of the Ignition Rewards Program will end on June 18, 2024, at 11:00 UTC. Users with eligible wallets must claim their rewards before the window closes. The claiming period for Season 3 will commence on July 1, 2024, at 13:00 UTC (21:00 Beijing time).ETHFI DAO announces a proposal for Season 3 and an airdrop, set to launch July

2024-07-01Deep Dive

Solana's Social Media Battle Begins: Will Blinks Drive Mass Adoption?

On June 25th, Solana released a new protocol called Blinks (Blockchain Links), which quickly gained support from over ten top protocols in the Solana ecosystem, including Tensor, Phantom, and Jupiter.　　Solana introduced Blinks as a way to connect Solana with the Web2 internet. Essentially, Blinks can generate links for any on-chain operation, allowing project teams or users to create their own Blinks and share them on social media. These links create interactive card-style interfaces that users can directly interact with using their wallets.　　Solanas founder, Toly, stated that Blinks can turn Web2 into Solanas L2 while ensuring economic security. This indicates Solanas strategy to leverage the massive traffic of social media platforms to shorten the path for Web2 users to enter Web3, promoting the transition of Web2 users to Web3. Implementation Path　　As mentioned, Blinks convert on-chain operations into links using a core technology stack called Actions. Actions is a protocol that creates and delivers Solana transactions via URLs, allowing Solana to be shared anywhere. Blinks is a client that detects Actions URLs and expands them into a full experience.　　The technology behind Actions and Blinks was developed in collaboration with Dialect. The team has already integrated Actions and Blinks directly into Twitter and

2024-06-28Deep Dive

Blast's First Airdrop Arrives: Why Are User Reviews Mixed?

Previously, ZKsync and LayerZero faced significant user dissatisfaction due to their airdrop rules. Yesterday, Blast initiated its airdrop and listed on multiple exchanges. Blasts high visibility on various monitoring platforms showcases its popularity. Compared to ZKsync and LayerZero, user reviews for Blasts airdrop are polarized.Airdrop Details　　Yesterday, Blast officially opened its airdrop claims and revealed its tokenomics. The total supply of BLAST is 100 billion, with 50% allocated for community airdrops. The first phase of the airdrop comprises 17% of the total supply.　　Airdrop Allocation:　　The first airdrop will distribute 17% of the total BLAST supply (17 billion tokens) among users. This 17% is broken down into:7% for Blast Points7% for Blast Gold Points3% for Blur Foundation　　For the top 0.1% of users (approximately 1000 addresses), airdrops will be linearly released over six months, contingent on meeting monthly points thresholds, encouraging continuous interaction.　　Additionally, the 3% allocated to the Blur Foundation will be distributed as follows:0.5% to Q3 traders, 0.5% to BLUR stakers0.5% to Q4 traders, 1% to BLUR stakers0.5% reserved for the Blur teamReasons for Mixed Reviews　　Blasts airdrop followed ZKsync and LayerZero, leading to higher market tolerance for its rules. The announcement of no sybil hunt for addresses further garnered support from “airdrop hunter

2024-06-27Deep Dive

CyberCharge teams up with WikiBit and TaskOn for a Giveaway Carnival Mania!

Activity link：　　https://taskon.xyz/campaign/detail/946656354　　Introduction　　CyberCharge is excited to partner with Taskon and WikiBit to host a Giveaway Carnival! Complete the tasks for a chance to share a 300 USDT prize pool.　　A total of 30 winners will be selected, with each winner receiving 10 USDT.　　Dont miss out on this fantastic opportunity to win!　　About CyberCharge　　CyberCharge is a cutting-edge social networking system built on the Global PowerMatching Protocol (GPMP), a pioneering protocol within the DePIN industry.　　By leveraging the unique ecosystem of the power network, CyberCharge creates a novel on-chain social domain. Users benefit not only from energy services but also from the opportunity to develop new social relationships, thereby broadening the influence and application boundaries of power matching protocols.

2024-06-27Deep Dive

Renowned Blockchain Info Query Platform WikiBit Joins the British Blockchain Association!

Leveraging its multi-dimensional public data accumulated from years of deep industry engagement, WikiBit provides all-in-one information query services to over 10 million users in more than 170 countries and regions worldwide with its robust technical capabilities and professional service team. Committed to offering the most comprehensive, accurate, and latest information support, WikiBit aids users in safely investing in the blockchain industry. As a member of the British Blockchain Association, WikiBit will further enhance its information regulatory service advantages, helping investors find the most suitable blockchain trading projects and platforms.　　The BBA is the UK‘s first national organization that encourages and promotes the adoption of blockchain technology across the public sector, private sector, and the third sector. It is one of the world’s largest blockchain associations, dedicated to driving blockchain innovation and application. The association brings together top-tier blockchain industry think tanks globally, with members spanning six continents, boasting strong industry influence and resource networks.　　WikiBits inclusion will inject new vitality into the association, collectively promoting the healthy development of the blockchain industry with its powerful blockchain regulatory information query services. Professor Naseem Naqvi, founder and chairman of the BBA, has stated, “The swelling ranks of partners and members from around the world

2024-06-26Deep Dive

These Two Events Draw Attention in the Airdrop Industry

ZKsync Opens Airdrop Claims and Lists on Binance　　Last week, ZKsync opened airdrop claims and was listed on Binance. ZKsync is seen as a competitor to Arbitrum and Optimism, thus its valuation and airdrop conditions are often compared to these projects. Previously, ZKsyncs airdrop rules caused considerable FUD (fear, uncertainty, and doubt) due to several contentious factors:　　Airdrop conditions were unusual, resulting in far fewer eligible addresses than anticipated.　　Several suspicious addresses were identified, with no direct response from the official team.　　Some addresses flagged by LayerZero as “sybil” addresses still received the airdrop.　　The presence of numerous “rat holes” (addresses suspected of gaming the system) and perceived unfair airdrop rules led to ZKsyncs governance token $ZK having a relatively average price performance on Binance compared to competitor projects.LayerZero Requires a $0.1 Donation per Token Claim　　In early May, LayerZero announced an airdrop snapshot and subsequent sybil address cleansing. For nearly two months, LayerZero remained in the spotlight, facing scrutiny, controversy, and disputes. Just as the community thought they could finally claim their airdrop, LayerZero introduced a new claim mechanism requiring users to donate $0.1 per ZRO token. This move was mocked by the community as a disguised IDO (Initial DEX Offering) rather than a genuine

2024-06-25Deep Dive

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