Selected News:

1. Binance reminds users to convert BUSD to other stablecoins before February 2024;

2. Binance will suspend trading and delist the BETH trading pair on October 11th.

3. Vertex Protocol: Will issue token VRTX in October;

4. Data: Upbit surpasses Binance to become the largest holder of CYBER;

5. Data: Velodrome fork protocol Aerodrome TVL breakthrough $120 million.

Project Updates

Binance Pool launches Ordinals engraving service

According to an official announcement, Binance Pool has launched the Ordinals engraving service, which makes it easier for users to directly engrave additional data onto individual satoshis, creating unique engravings on the Bitcoin network that will be securely stored. Users need to have a Taproot address before using this service.

Binance reminds users to convert BUSD to other stablecoins before February 2024According to an official announcement, Binance will gradually stop supporting BUSD due to Paxos ceasing the issuance of new BUSD tokens. Binance reminds users that they can convert their BUSD assets to other assets supported by the Binance platform before February 2024. Users can trade their BUSD assets for FDUSD with zero fees on the Binance spot market, or exchange their BUSD assets for FDUSD at a 1:1 ratio with zero spreads and zero fees on the flash exchange trading platform.

Pendle co-founder TN Lee confirms attendance at "Build For Miracle" themed summit

Pendle co-founder TN Lee has confirmed attendance at the "Build For Miracle" summit, jointly hosted by BlockBeats and MetaStone Group. Pendle Finance is a decentralized DeFi protocol that enables tokenization and trading of future yields. As a yield derivative protocol, it brings the interest rate derivatives market from traditional finance to DeFi, making it more accessible to everyone. Pendle helps unlock the full potential of yield, allowing users to execute advanced yield strategies such as fixed income and long yield.

Celestia联创Nick White确认出席「Build For Miracle」系列主题峰会 Translation:

Celestia co-founder Nick White confirms attendance at "Build For Miracle" series theme summit

Celestia co-founder and COO Nick White has confirmed his attendance at the "Build For Miracle" series of themed summits jointly hosted by BlockBeats and MetaStone Group. Nick White was previously co-founder of Harmony and a senior AI expert at Zeroth.ai. He graduated from Stanford University with a Bachelor's and Master's degree in Electrical Engineering. Celestia is a modular blockchain network built on top of Ethereum's L2 Rollup, where the Rollup of blockchain and all VMs (not just EVM) can use Celestia as a data availability layer and consensus layer. Due to the inherent technology of data availability sampling and "minority honest" light nodes, Rollup can use Celestia to improve scalability.

Vertex Protocol: VRTX tokens to be issued in October

Decentralized exchange platform Vertex Protocol, built on Arbitrum, has announced that it will launch a Token Generation Event (TGE) for its VRTX token in October.

Binance will suspend trading and delist the BETH trading pair on October 11th.

According to official sources, Binance will delist and stop trading the BETH trading pairs, including BETH/ETH, BETH/USDT, and BETH/BUSD, at 16:00 on October 11, 2023 Beijing time. All orders will be automatically cancelled after each trading pair is delisted. Trading bot services for the above spot trading pairs will also be terminated. Users are advised to update or cancel their trading bots before the trading bot service stops to avoid losses. Users can continue to use the WBETH/ETH and WBETH/USDT spot trading pairs. It is understood that BETH will continue to be used for ETH staking rewards. WBETH can be used for trading, as collateral for Binance's pledge borrowing, and for participating in DeFi projects on non-Binance platforms. Binance will continue to support BETH, and users can still deposit BETH into Binance. Users who hold BETH in their spot wallets will continue to receive ETH staking rewards every day. Users can redeem BETH for ETH at any time, wrap BETH into WBETH, or unwrap WBETH into BETH tokens. WBETH holders can receive the same ETH staking rewards as BETH holders.

Binance will adjust the leverage, maintenance margin tiers, funding rate settlement frequency, and funding rate upper limit multiplier of the CYBERUSDT perpetual contract

According to official sources, Binance will update the CYBERUSDT U perpetual contract leverage and margin ladder at 13:00 on August 31, 2023 Beijing time. Users' current positions will be affected. Please refer to the updated leverage and margin ladder to adjust the margin to avoid forced liquidation. In addition, Binance will adjust the funding rate settlement frequency of the CYBERUSDT U perpetual contract at 16:30 on August 31, 2023 Beijing time. The funding rate settlement frequency will be adjusted from once every eight hours to once every four hours. The upper limit multiplier of the CYBERUSDT U perpetual contract funding rate has been raised from 0.75 to 1.

Farcaster has launched the V3 version and is now live on OP Mainnet.

Farcaster co-founder Dan Romero announced on social media that Farcaster has launched version 3 and is now live on the OP Mainnet. To commemorate the launch of version 3, Farcaster has released a commemorative NFT on Zora, which users can mint for free on the Base network.

Coinbase founder reveals top ten crypto tracks, including Flatcoin, on-chain reputation, RWA, etc.

Coinbase founder Brian Armstrong has revealed his top ten favorite cryptocurrency tracks on Twitter. They are:

1. Flatcoin (a stablecoin pegged to CPI, providing stability and inflation resistance).

2. On-chain reputation (a decentralized protocol that assigns reputation scores to each address or ENS domain name based on the on-chain data graph).

3. On-chain advertising;

4. On-chain capital raising;

5. Decentralized global labor market

6. Layer 2 privacy solution;

7. Fully on-chain P2P trading platform (current P2P trading platforms are operated by centralized entities);

8. Full-chain game;

9. Tokenization of Real-World Assets (RWA);

10. Network States tools (managing voting, governance, fundraising, citizenship, taxation, and service provision) for the cryptocurrency industry.

StarkWare: Restoring Starknet user access to non-upgraded accounts

StarkWare announced that version 0.12.1 was updated on Starknet last week. In order to accommodate this update, Starknet users were required to upgrade their accounts. After the official launch of version 0.12.1, accounts that were not upgraded became inaccessible. Currently, StarkWare is restoring access to all of these accounts (totaling $550,000). The upgrade has been reactivated as of today, allowing users to immediately regain access to their accounts.

Centrifuge proposes to distribute stablecoins held in its treasury to low-risk RWA investments in the Aave community.

Centrifuge, a decentralized lending protocol based on RWA, recently released a proposal in the Aave community to allocate a portion of stablecoins held in the Aave treasury through Centrifuge Prime to low-risk RWA investments.

The proposal includes: Aave will join Centrifuge Prime to establish legal and technical infrastructure for Aave Treasury to invest in RWA; Aave Treasury will initially allocate 1 million USDC to invest in short-term US government bonds, gradually increasing the target allocation ratio to 20% of stablecoin holdings, and may choose to extend to other income options with approval from Aave governance.

ssv.network Discord has been attacked, users need to guard against phishing risks

Decentralized Ethereum staking infrastructure ssv.network issued a reminder that its official Discord has been attacked. Please do not click on any links claiming to offer airdrops. The team is working to resolve the issue as soon as possible.

Balancer: has developed mitigation measures for vulnerabilities but cannot pause affected pools, unable to disclose exact loss figures

DeFi liquidity protocol Balancer has released an update addressing vulnerability risks. The protocol has implemented mitigation measures to reduce risks, but affected liquidity pools cannot be paused. Users are urged to immediately withdraw affected LPs using the user interface (UI). Thanks to the vigilance and swift action of Balancer LPs, the majority of initially vulnerable liquidity has been withdrawn. However, on August 27, just 5 days after the vulnerability disclosure, malicious actors successfully exploited remaining vulnerabilities in affected pools on Balancer and Beethoven X protocols.

Balancer and Beethoven X community are taking known measures to thoroughly investigate the situation and actively working with relevant partners, legal teams, and security experts to address the issue. User safety remains the highest priority, and if the UI does not prompt to exit the liquidity pool or allow users to enter the liquidity pool, the pool is considered safe and without risk.

Uniswap community proposes "temperature check" by deploying V2 version to all networks that have deployed V3

The Uniswap community has voted to approve the "Deploy V2 to all networks where V3 is deployed" temperature check proposal. This proposal states that the only standardized deployment of Uniswap V2 is on the Ethereum mainnet, but there is demand for the V2 version of AMM on non-Ethereum chains, and many V2 forks have been deployed and modified to varying degrees, which may pose security risks to users. Deploying Uniswap V2 on all chains with V3 specifications can accumulate liquidity from forked versions and provide better execution for small traders through Universal Router when combined with V3.

Data

A certain whale withdrew nearly $5 million in tokens from Binance, including ARB, OP, and LDO.According to on-chain analyst Yu Jin's monitoring, a certain whale withdrew tokens worth approximately $4.95 million from Binance 19 hours ago, including 2,580,596 ARB tokens (approximately $2.44 million), 1,171,454 OP tokens (approximately $1.72 million), and 484,719 LDO tokens (approximately $790,000).

Data: Velodrome fork protocol Aerodrome TVL breaks $120 million

According to Defillama data, the Velodrome fork protocol Aerodrome TVL has reached $124 million in total value locked.

Blue-chip NFT floor price rebounds, BAYC floor price up 23.09% in 7 daysAccording to Blur market data, the floor prices of blue-chip NFT series have seen varying degrees of recovery. Among them, BAYC's floor price is 28.68 ETH, with a 7-day increase of 23.09%; MAYC's floor price is 5.72 ETH, with a 7-day increase of 26.83%; Azuki's floor price is 4.44 ETH, with a 7-day increase of 18.36%; PudgyPenguins' floor price is 4.07 ETH, with a 7-day increase of 14.68%; DeGods' floor price is 4.46 ETH, with a 7-day increase of 24.87%.

Data: Upbit surpasses Binance to become the largest holder of CYBERAccording to Scopescan, since the launch of CYBER on Upbit on August 22nd, the Upbit exchange wallet has held approximately 3.6 million CYBER tokens, worth about $32.43 million. Upbit has surpassed Binance to become the largest holder of CYBER, accounting for 33% of the token's circulating supply. Korean investors may have contributed to the recent price increase of CYBER.

Data: A whale who lost $5.1 million due to longing ETH went long on ETH again yesterday

According to Lookonchain's monitoring, a certain whale's ETH long position was liquidated in the recent two market crashes, with a loss of about $5.1 million. It is understood that after yesterday's market rise, the whale once again went long on ETH at a price of $1717.

friend.tech "Keys" price ranking: founder Racer ranks first with 2.525ETH

friend.tech "Keys" price ranking latest data shows: · Platform founder Racer ranks first with 2.525 ETH; · Cryptocurrency trader L ranks second with 2.116 ETH; · Cryptocurrency KOL Hsaka ranks third with 1.958 ETH; · NDV co-founder Christian2022.mid ranks fourth with 1.560 ETH; · Cryptocurrency trader Ansem ranks fifth with 1.501 ETH.

A certain whale that has been dormant for 2 years will transfer over 12,000 ETH to Binance

According to on-chain analyst Yu Jin's monitoring, a whale who withdrew 52,000 ETH (valued at $5.73 million at the time) from Kraken at an average price of $110 between December 2018 and January 2019, has transferred 12,087 ETH (currently valued at $20.61 million) in two transactions to Binance after being dormant for 2 years. With this, all of the whale's 52,000 ETH has been transferred out to CEX.

Funding

闪电网络流动性质押项目 Stroom Network 完成 350 万美元种子轮融资，Greenfield 领投

Translation:

Lightning Network liquidity staking project Stroom Network completes $3.5 million seed round financing, led by Greenfield

According to Decrypt, Stroom Network, a Bitcoin Lightning Network liquidity staking project, has completed a $3.5 million seed round of financing. Greenfield led the investment, while Ankr's venture capital department, Mission Street, provided strategic support. Lemniscap, No Limit Holdings, Cogitent Ventures, and several other venture capital firms and angel investors also participated. Stroom Network reportedly provides users with the ability to use Bitcoin on both the Lightning Network (LN) and Ethereum without the need for trust through a liquidity staking mechanism.

Viewpoint

Hashkey COO: Only 5 to 8 companies are expected to ultimately obtain Hong Kong regulatory trading licenses

Hashkey Group's Chief Operating Officer, Livio Weng, stated in an interview with DeThings that Hashkey will not only launch in Hong Kong, but will also be able to conduct compliant business in other countries or regions except for China, the United States, and restricted areas. It is expected that only 5-8 exchanges will eventually be able to successfully obtain licenses, and it is expected that at least 80% of the exchanges currently applying for licenses will withdraw their applications in subsequent stages. Within the compliance framework, HashKey Exchange may be the first to launch ETFs (Exchange-Traded Funds) on its trading platform, especially spot ETFs, including providing underlying infrastructure for funds applying for ETFs in Hong Kong, covering trading, custody, SSA (Social Security Allowance), and other aspects. HashKey EcoPoints (HSK) is different from the exchange platform currency. First of all, HSK is a legally registered platform ecological credit in the compliance framework of the Securities and Futures Commission (SFC) of Hong Kong, which is one of its important features.

Regulation

Grayscale CEO: It is not yet certain whether it is necessary to resubmit the application for a spot Bitcoin ETF to the SEC

According to Bloomberg, Grayscale CEO Michael Sonnenshein stated that it is uncertain whether Grayscale will need to resubmit its Bitcoin ETF application to the US Securities and Exchange Commission (SEC) after winning a lawsuit against them.

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