Selected News:

1. dYdX Foundation CEO: The order book will still not be on the dYdX chain, and dYdX on Ethereum will be shut down in a few months;

2. Coinbase founder is optimistic about the crypto industry and has added a Web3 version of LinkedIn to his portfolio.

3. On-chain IP infrastructure Story Protocol has completed a total of $54 million in financing, with a16z leading the investment;

4. Encryption Wealth Report: The current global total number of cryptocurrency users has reached 425 million, with approximately 88,000 users holding personal coin values exceeding $1 million.

5. Banana Gun announces that it will conduct a token presale, with an airdrop ratio of 1.2%.

Project Updates

Fuel Labs CEO Nick Dodson confirms attendance at "Build For Miracle" themed summit

Ethereum modular execution layer Fuel developer Fuel Labs CEO Nick Dodson confirmed attendance at the "Build For Miracle" series of themed summits jointly hosted by BlockBeats and MetaStone Group.

Nick Dodson is currently the CEO of Fuel Labs and was the 16th employee at ConsenSys. He firmly believes in autonomy and freedom. Fuel Labs is building a new execution layer to scale the next generation of blockchain applications. FuelVM is designed to be modular and can serve as the execution engine for any blockchain.

Fuel Labs completed an $80 million financing round in September 2022, led by Blockchain Capital and Stratos Technologies, with participation from Alameda Research, CoinFund, and others. In September 2021, Fuel Labs completed a $1.5 million financing round led by investment firm CoinFund, with participation from Fenbushi Capital, Origin Capital, and others.

The developer of "PlayerUnknown's Battlegrounds" has launched the Layer 1 project Settlus, which aims to provide USDC-based payment and settlement infrastructure for metaverse projects.

According to Decrypt, Krafton, the developer of "PlayerUnknown's Battlegrounds," announced the launch of a Layer 1 project called Settlus based on the Cosmos SDK at the Korean Blockchain Week. The project aims to provide USDC-based payment and settlement infrastructure for metaverse-related projects, and its testnet is expected to launch in early 2024. In addition, the Settlus team also shared their vision for the metaverse platform Project Migaloo.

The business and operations team leader of the Migaloo project, Bryan Song, stated that Migaloo is "collaborating" with Settlus blockchain to provide a "create-to-earn" system for content creators. This system automatically generates NFTs for the digital assets created by creators and distributes creator royalties to them.

dYdX Foundation CEO: Order book will still not be on the dYdX chain, dYdX on Ethereum will be shut down in a few months

The CEO of dYdX Foundation, Charles d'Haussy, stated in an interview with Cointelegraph that one of the issues faced by decentralized exchanges is the inadequate performance of on-chain order books. Due to this issue, the order book of DEX must be moved off-chain to meet the needs of users on the trading platform. Even with a block time of just 1 second, it would still result in a 1-second delay in the order book.

When discussing the migration plan, Charles d'Haussy stated that dYdX is not expanding, but only migrating. The dYdX trading platform on Ethereum will be closed in a few months.

Frax core team proposes to introduce sFRAX, providing users with passive income opportunities similar to DSR

The Frax core team has released the [FIP - 2XX] sFRAX proposal on the governance forum. The proposal aims to introduce Staked FRAX (sFRAX) into the Frax ecosystem, allowing users to deposit FRAX stablecoin into a smart contract (standard ERC-4626) and earn interest (denominated in FRAX stablecoin).

The core team stated that, similar to the Dai Savings Rate (DSR) concept, sFRAX focuses on solving the nearly zero duration yield curve of FRAX, providing users with the opportunity to earn FRAX stablecoins while contributing to the growth of FRAX supply. In addition to the deposited and earned FRAX stablecoins, sFRAX does not guarantee any returns or redemption rights for on-chain or off-chain assets.

Insider: AntChain will launch a new Web3 brand, providing technical solutions for the Hong Kong and overseas markets in China

According to reports from insiders cited by Interface News, AntChain will launch a brand new Web3 brand at the upcoming Bund Summit. The brand will provide Web3 technology solutions for the Hong Kong and overseas markets, focusing on security and compliance-related technical products.

GMBL.COMPUTER: Successfully recovered half of stolen funds

Arbitrum ecosystem DeFi protocol GMBL.COMPUTER officially announced that it has recovered half of the stolen funds and transferred them to the official multi-signature wallet address.

Binance: XIRTAM refund assets have been deposited into smart contracts

Binance has released an update regarding XIRTAM-related matters. Currently, the relevant assets have been deposited into the smart contract. Users can view information about the Claim contract through the XIRTAM refund guide and follow the instructions to check relevant information and complete the necessary operations.

Operation Guide: https://docs.google.com/forms/d/e/1FAIpQLSfB6RdPojEmk-VrljSL5wrZUzUyLNPaBW0WP8QDArV69_iPsA/viewform

Binance will remove AUDIO/BUSD, BAT/BUSD and other spot trading pairs and stop trading

Binance will remove the following spot trading pairs and cease trading:

September 8th, 2023 13:00 (GMT+8): AUDIO/BUSD, BAT/BUSD, BSW/BUSD, CITY/BUSD, CVX/BUSD, FORTH/BUSD, JUV/BUSD, MOB/BUSD.

September 8th, 2023 15:00 (GMT+8): OGN/BUSD, OMG/BUSD, PLA/BUSD, POLS/BUSD, REI/BUSD, RSR/BUSD, SCRT/BUSD, TVK/BUSD

September 8th, 2023 at 17:00 (GMT+8): ADA/BIDR, MATIC/BIDR, UTK/BUSD, ZIL/BIDR.

Binance adds DOGE/FDUSD, SOL/FDUSD and other trading pairs

According to an official announcement, Binance will launch DOGE/FDUSD, SOL/FDUSD, TOMO/TRY, UNFI/TRY, and XRP/FDUSD trading pairs at 16:00 on September 7th. TRY is a legal currency code, not a digital currency code. Users will enjoy zero maker fees on the FDUSD trading pairs.

Coinbase founder bullish on Web3 version of LinkedIn in the crypto industry

Coinbase founder Brian Armstrong posted on social media that the Coinbase Ventures Summit, which will be held in California in October this year, has received over 150 applications so far. Armstrong said that in addition to the ten major crypto tracks such as Flatcoin, Chainlink, and RWA, an 11th idea has been added, which is a Web3 version of LinkedIn. You can apply to attend the summit with this idea (or other ideas).

Data

Perpetual Protocol Foundation transferred 903,000 PERP to Binance, and may have sold a total of 7 million PERP since March.

According to Lookonchain data, the Perpetual Protocol Foundation transferred 903,000 PERP tokens to Binance today after the price increase. Since March, the foundation has transferred a total of 7 million PERP tokens to Binance, worth approximately $4.62 million.

0xb15 starts with a whale address that withdrew 9689 ETH from Binance again.

According to the on-chain data analyst Yu Jin, the whale address starting with 0xb15 withdrew 9689 ETH, equivalent to approximately $15.8 million, from Binance 15 minutes ago. It is reported that the address transferred 6.3 million USDT to Binance on September 2nd and another 36 million USDT on September 5th, followed by a withdrawal of 9819 ETH (approximately $15.92 million) from Binance.

Coinbase net outflow exceeded $1.05 billion in the past 7 days

According to Nansen data, Coinbase's platform has seen a net outflow of over $1.05 billion in assets over the past 7 days, with Coinbase Custody, its subsidiary custodian, experiencing a net outflow of $757 million over the same period. Additionally, OKX has seen a net outflow of $60.77 million over the past 7 days, while KuCoin has seen a net outflow of $56.44 million.

Data: Banana Gun's daily trading volume exceeds $1.83 million, with 778 daily active addresses

According to Dune data, the trading volume of the Telegram Bot project Banana Gun has reached 178 million US dollars, with a daily average trading volume of over 1.83 million US dollars, and a total of 13,419 users, with 778 daily active addresses. In addition, the current trading volume of Unibot has reached 297 million US dollars, with a daily average trading volume of over 4.28 million US dollars, and a total of 442,221 users, with 1655 daily active addresses.

Banana Gun announces token presale with 1.2% airdrop allocation

Telegram Bot project Banana Gun announced the launch of BANANA token pre-sale and has released the token economics. BANANA has a total supply of 10 million, of which 2 million are for pre-sale, 300,000 are for providing liquidity and locked for 2 years, 120,000 are for airdrop, 1 million are for the team (500,000 locked for 2 years and released linearly over 3 years, 500,000 locked for 8 years and released linearly over 3 years), and 6.58 million are for the treasury (most of which are locked).

The pre-sale fundraising limit is 800 ETH, and the participation limit for a single wallet address is 1 ETH. Users who previously participated in the activity and obtained Soul Binding NFTs have been included in the whitelist and will be open to specific users such as KOLs and project NFT holders in 4 rounds. The pre-sale price is $0.65 per BANANA token, corresponding to an initial market value of $1.56 million and an initial FDV of $6.5 million.

Highstreet Treasury Deposits 1 Million HIGH into Binance

According to Spot On Chain, an address labeled "Highstreet Treasury and Reserve" deposited 1 million HIGH tokens into Binance at an average price of $1.24. Additionally, Highstreet deposited 3.273 million HIGH tokens into Binance at an average price of $1.12 over the past 7 days and still holds 18.75 million HIGH tokens (approximately $23.2 million).

Cryptocurrency Wealth Report: The current global total number of cryptocurrency users has reached 425 million, with approximately 88,000 users holding personal coin values exceeding $1 million.

According to the data released by Henley & Partners, a global residency and citizenship advisory firm, there are currently 88,200 people worldwide holding cryptocurrencies worth more than $1 million, 182 people holding cryptocurrencies worth more than $100 million, and only 22 people holding cryptocurrencies worth more than $1 billion. The total number of cryptocurrency users is 425 million, and the total market value of cryptocurrency assets is $1.18 trillion.

Due to the floating loss of 5.34 million US dollars in GMX holdings, two whales pledged more than 54,000 GMX, worth about 1.78 million US dollars.

According to on-chain analyst Yu Jin's monitoring, 8 hours ago, two whales (possibly belonging to the same person/organization) deposited 54,607 GMX (about $1.78 million) into GMX staking. Yu Jin stated that these two addresses currently have a total of 210,493 GMX (about $6.88 million) staked, with a cost of approximately $58 per token. Currently, there is a floating loss of $5.34 million (-43%).

Funding

Chain-based IP infrastructure Story Protocol has raised a total of $54 million in funding, with a16z leading the investment.

The on-chain IP infrastructure Story Protocol has raised a total of $54 million in funding, with a16z leading the investment and Hashed, Endeavor, Samsung Next, dao5, Insignia Venture Partners and others participating.

In May of this year, Story Protocol announced the completion of a $29.3 million seed round of financing, led by a16z Crypto, with participation from Hashed, Samsung Next Fund, Two Small Ventures, and others. Story Protocol has officially launched and is building an open intellectual property infrastructure to promote creativity in the internet age.

An application built on the Story Protocol designed specifically for creators of all media (prose, images, games, audio, etc.), allowing writers and artists to track the origins of their work, allowing anyone to contribute and remix, while capturing the value of their contributions.

Web3 domain name and TLD provider Freename completes $2.5 million seed round financing, led by Sparkle VenturesAccording to Cointelegraph, Web3 domain and TLD provider Freename has completed a $2.5 million seed round of funding, led by Sparkle Ventures with participation from Blockchain Founders Fund, Golden Record Ventures, Abalone Asset Management, and others. Freename allows users to create their own top-level domains (TLDs) and second-level domains (SLDs) on multiple blockchains. These Web3 domains can represent digital identities and be used for various functions such as sending and receiving crypto payments, sending Web2 and Web3 emails, browsing traditional websites, and building decentralized websites.

Regulation

Grayscale: GBTC is ready to operate as an ETF after regulatory approval

Grayscale has written to the US Securities and Exchange Commission (SEC) stating that the SEC's review time for the conversion of GBTC to a physical Bitcoin ETF in the 19b-4 filing has exceeded the stipulated time by three times. GBTC is ready to operate as an ETF once approved by regulatory authorities.

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