Legal Evening News | Scroll hints at the launch of its mainnet in an article; US supermarket chain Trader Joe's sues a DEX with the same name for trademark infringement.
Selected News:
1. Scroll announces or hints that its mainnet is about to launch;
2. OKCoin will gradually be renamed as OKX worldwide, and the two brands will merge into one.
4. American chain supermarket Trader Joe's sues DEX with the same name, accusing trademark infringement;
4. ZeroSync project leader releases "BitVM: Compute Anything on Bitcoin" whitepaper;
5. LSDFi Protocol Raft launches its native token RAFT, with the community share accounting for 16% of the total supply and the ecosystem and incentive share accounting for 21.43%.
Project Updates
美国连锁超市 Trader Joe's 起诉同名 DEX，指控商标侵权 Translation:
US chain supermarket Trader Joe's sues same-named DEX, accusing trademark infringement
According to Blockworks, the US chain supermarket Trader Joe's has recently filed a lawsuit against a decentralized trading platform called "Trader Joe" and its co-founder Cheng Chieh Liu, accusing them of intentionally choosing a name similar to the supermarket's name. The lawyer claimed that this decentralized exchange (DEX) created a story around the fictional "Trader Joe" that is closely associated with the supermarket brand. In addition, the logo of this crypto company also features an image of "Trader Joe" wearing a red hat, which is the main color of the supermarket brand. According to the lawsuit, co-founder Liu is a Chinese citizen residing in Singapore who registered the disputed domain name traderjoexyz.com in this case. The chain supermarket is seeking a court order to force the crypto company to stop using variants of its name in its business operations, and to seek ownership of the relevant domain names and any other damages determined through legal proceedings.
ZeroSync project leader releases "BitVM: Calculate Anything on Bitcoin" white paper
The project leader of ZeroSync has released the whitepaper "BitVM: Compute Anything on Bitcoin". According to the whitepaper, BitVM is a new computing paradigm that allows for Turing-complete Bitcoin contracts without changing the Bitcoin network consensus rules. BitVM can execute any computable function and perform offline computations without leaving any trace on the chain. The whitepaper also covers the architecture, input/output, limitations, and prospects of BitVM.
Related reading: "What do senior developers think of BitVM for calculating anything on Bitcoin?"
Binance will launch STRAX 1-10x U perpetual contract
According to an official announcement, Binance will launch the STRAX 1-10x U perpetual contract on October 11th at 10:30 (GMT+8).The Web3 game ecosystem project METAPIXEL, built in collaboration between South Korean 3A game studio NPIXEL and Aptos, has been indefinitely suspended. All current team members will no longer be able to participate in the project and will no longer represent it. BlockBeats previously reported that on September 4th, NPIXEL, a South Korean game studio, disbanded its Meta headquarters responsible for developing and operating chain games and Web3 new businesses.
借贷协议 dForce 将在所支持的 L1 和 L2 链上停止使用 BUSD
Translation:Lending protocol dForce will stop using BUSD on the supported L1 and L2 chains
According to official sources, based on the DIP052 proposal, the DeFi protocol dForce will cease support for BUSD on all supported L1/L2 chains for its lending protocols. If there are still open BUSD positions in the lending protocols, please close them and withdraw the BUSD.Binance has launched a new project called Neutron (NTRN) on Launchpool.
Binance has launched its 38th new coin mining project - Neutron. Neutron allows developers to easily build cross-chain applications through the Inter-Blockchain Communication Protocol (IBC) and provides comprehensive economic security for Cosmos Hub's DeFi dApps. Users can deposit BNB, TUSD, and FDUSD into the NTRN mining pool on the Launchpad website after 08:00 on October 11, 2023 to receive NTRN rewards. The mining period for NTRN is 20 days.
Scroll posted or hinted that its mainnet is about to go live
The Ethereum Layer 2 solution Scroll has released a world language content "La estonteco estas malfermita" on social media, which translates to "The future is open", implying that its mainnet is about to go live. Previously, on September 13th, BlockBeats reporter reported on the front line of Token2049 that Ye Zhang, co-founder of Scroll, said at the "Scaling Blockchains: The State of Layer 2 Solutions" roundtable discussion in Singapore that Scroll is currently in the final stage of testing and will soon launch its mainnet. Many large-scale applications, such as Uniswap, have been deployed on Scroll's testnet, and it is expected that more Ethereum applications will be deployed on Scroll after the mainnet launch to solve various real-world problems, not just gaming applications.
Cross-chain bridge Starkgate has now been integrated into OKX Web3 wallet.
According to the official website, Starkgate has now been integrated into the OKX Web3 wallet. Users can use the OKX Web3 wallet plugin to conduct cross-chain asset transactions between Ethereum mainnet, OKX, Coinbase, and Starknet on Starkgate. StarkGate is a cross-chain bridge officially launched by StarkNet. It is reported that the OKX Web3 wallet is a one-stop Web3 entrance that supports 70+ public chains, covering wallets, DEX, DeFi, NFT markets, DApp exploration in 5 major categories, and supports Ordinals market, MPC and AA smart contract wallets, gas exchange, connection to hardware wallets, bringing users a convenient and secure user experience.CZ: Another BNB burn will take place in the coming days
Binance founder CZ stated on social media that "BNB is a fairly launched token, and no one received free BNB tokens from the initial supply. The team tokens have never been moved or used, only burned, and there will be a new BNB burn (quarterly burn) in the coming days."
OKCoin will gradually be renamed to OKX globally, and the two brands will merge into one.
OKCoin CEO Fang Hong announced on his social media platform that the company has decided to rename Okcoin to OKX globally in the coming months. Fang Hong stated, "We recently cancelled the 'Okcoin' brand and product in several regions (Latin America, Middle East and North Africa, South Asia, Hong Kong, etc.) - we will rename 'Okcoin' to 'OKX' one by one in the next few months, starting with Singapore, then the EU, and finally our headquarters in the United States. Okcoin customers in Singapore, the EU, and the United States will receive the same product services under the same regulatory framework, and these customers will only interact with a new brand. More details will be shared separately with customers." Fang Hong commented on the decision, "Renaming Okcoin to OKX in our main operating jurisdictions is a good thing for our customers and business. Now we are ready to merge these two brands into one, simplification and focus are always better, it's time for a change, one platform, one brand. We can now continue to build a scalable and future-oriented global platform with absolute focus." Fang Hong emphasized that the United States has always been important for its global strategy.
Canto will submit a proposal to "reduce security release and liquidity mining incentives by 20%".
According to official sources, the Cosmos ecosystem public chain Canto will submit three separate governance proposals on October 11th at 23:30, including setting new liquidity mining incentives (reduced by 20%) and reducing security releases by 20% to 2.776 CANTO per block. The proposals will take effect immediately if approved.Binance will list Neutron (NTRN) with a seed tag.
According to the official announcement, Binance will launch Neutron (NTRN) at 20:00 on October 10, 2023 Beijing time, and open trading for the following spot trading pairs: NTRN/BTC, NTRN/USDT, NTRN/BNB. In addition, Binance will also add a seed tag for Neutron (NTRN). It is reported that tokens with seed tags may have higher volatility and risk compared to other listed tokens. Users need to take the corresponding test and accept the terms of use every 90 days on the Binance spot and/or Binance margin platform to obtain trading permission for tokens with seed tags.
Xterio will launch Xterio Marketplace centered around gaming on October 22nd.
The chain game publisher Xterio announced that it will launch a game-centered market "Xterio Marketplace" on October 22. As previously reported by BlockBeats, on July 13, Binance Labs invested $15 million in Xterio, a blockchain game publisher. The new funds will be used to further promote game and technology development, including AI integration and token issuance.
According to official sources, the decentralized ZK-RaaS platform Opside has officially announced a brand upgrade to Lumoz, kicking off a new journey for ZK-RaaS & Decentralized Prover Network. The project's new official website has been updated to lumoz.org. The comprehensive brand upgrade aims to help global users better understand and apply ZK-Rollup technology, enabling application chains based on zkEVM to land on a large scale.
Astar Network will soon launch zkEVM test network
The Polkadot ecosystem's smart contract platform Astar Network announced on its social media platform that it is building a new Astar zkEVM environment. Currently, the zkEVM storage environment and Sepolia storage bridge have been completed, and the cross-chain bridge user interface is under development. The Astar zkEVM test network will be launched soon, and pre-registration is now open.
South Korean internet giant Naver's metaverse platform Zepeto, in collaboration with Jump Crypto, has announced that there are fake ZTX tokens circulating in the market. According to a recent announcement, ZepetoX's TGE date is October 16th. Currently, the mining pools on DEX are not official. Please be careful and do not buy/click on any links before the TGE date. As the TGE approaches, ZepetoX will announce through official channels where its tokens will be traded. BlockBeats previously reported that ZepetoX announced on October 8th that the ZTX token airdrop and release date will be October 16th, with a total supply of 10,000,000,000 tokens. ZTX tokens can be used for community governance, purchasing in-game assets, and improving players' progress in the game.
According to official sources, the LSDFi protocol Raft has launched its native token RAFT, which can be used for staking and governance. Token holders can provide liquidity in the Balancer pool and stake their Balancer liquidity pool tokens to receive veRAFT. Holders of veRAFT can vote on key protocol decisions to drive the growth of Raft and receive RAFT token rewards. According to data, the total supply of RAFT is 2.5 billion, of which: · Investor share is 25.91% · Ecosystem and incentive mechanism share is 21.43% · Team and advisor share is 19.61% · Community share is 16% · Treasury share is 15% · CEX market-making fund share is 2.5%. The lock-up period is shown in the figure.
THORSwap officials posted on social media that they will collaborate with industry-leading providers for address screening. Contributors have completed the code for a long-term solution and are integrating the final components to restart Swap. BlockBeats previously reported that on October 6th, THORSwap announced that due to illegal funds using THORChain and THORSwap, after careful evaluation and consultation with advisors, legal advisors, and law enforcement agencies, the team decided to temporarily switch the protocol to maintenance mode. The team further stated that maintenance mode actually suspended trading operations. However, services such as loans, borrowing, and pledging are still operational.
The encryption robot trading platform 3Commas has issued a statement saying that some customers have reported unauthorized account transactions after their account passwords were reset. Investigation found that only a few customer accounts had their passwords reset and were suspected of unauthorized transactions, which mainly affected customers who did not enable two-factor authentication (2FA). The accessed data did not include users' API key data and account passwords. 3Commas strongly recommends that users enable two-factor (2FA) authentication and regularly change their passwords to provide additional security for their accounts.
Frax Finance will launch sFRAX, a collateral pool that utilizes US Treasury yields.
According to Blockworks, Frax Finance has launched a collateralized treasury called sFRAX (also known as staked FRAX) that utilizes US Treasury yields, as well as a bond product that will convert to the stablecoin FRAX upon maturity. Frax founder Sam Kazemian stated that users can deposit funds into sFRAX and earn a 10% yield, which will then decrease to approximately 5.4%, the current IORB rate set by the Federal Reserve.
Gemini appoints Sachin Ranglani as Vice President and India Head, plans to expand staff
According to Blockworks, the cryptocurrency trading platform Gemini has appointed Sachin Ranglani as Vice President and India Head. Previously, Sachin served as Senior Vice President of Product Management at Indian fintech Paytm, and has worked at Uber, Amazon, and Infosys. It is reported that Gemini's entry into the Indian market is consistent with its expansion strategy in Singapore, with the goal of increasing its staff to over 100 by next year. As previously reported by BlockBeats, on September 26th, Gemini announced plans to invest INR 2 billion (USD 24 million) over the next two years to develop its development center in Gujarat.
Ethereum infrastructure service provider Blocknative cuts over 33% of its workforce
According to CoinDesk, Matt Cutler, CEO of Ethereum infrastructure service provider Blocknative, stated that the company recently underwent a restructuring, with over 33% of its workforce being laid off, affecting more than a dozen employees. Blocknative currently has 24 employees. BlockBeats previously reported that Blocknative had stopped its MEV-boost service due to economic issues.
Related reading: "Blocknative stops relay service and announces 30% layoffs, is MEV-Boost facing its toughest moment?"
The encrypted data tracking platform Arkham stated in a post that even after Tornado Cash was sanctioned by the US Treasury in August 2022, it remains the largest cryptocurrency mixer on the Ethereum network. In the past 30 days, $77.35 million in assets have been transferred through Tornado Cash on the Ethereum mainnet. Tornado Cash operates on 7 different blockchains and can mix 10 different cryptocurrencies. The asset with the most mixing is the native ETH on the Ethereum mainnet. At its peak in July 2021, the Tornado Cash pool contract held over $700 million worth of ETH. After being sanctioned by the US Treasury, the assets in Tornado Cash decreased by more than 60%, and the transfer volume also decreased significantly. Tornado's TVL is currently about $187.9 million.
Related reading: "Despite being sanctioned, Tornado Cash remains the largest encrypted mixer on Ethereum with huge demand."
Regulation
SBF requests judge to investigate false Alameda loans involving FTX co-founder Gary Wang
According to a legal document reported by CoinDesk, Sam Bankman-Fried (SBF), the founder of FTX, wants to ask FTX co-founder Gary Wang whether he relied on legal advice when agreeing to a series of loans from affiliated hedge fund Alameda Research. Prosecutors have investigated the approximately $200 million to $300 million in loans that Gary Wang received from Alameda Research, which he used for venture capital investments and to purchase a house in the Bahamas. SBF believes that the involvement of lawyers indicates that he was not aware that the company's loans were improper, and therefore requests that Judge Lewis Kaplan allow him to question Gary Wang on this issue. Gary Wang is expected to complete his testimony later on Tuesday, followed by Caroline Ellison, the former head of Alameda Research and SBF's ex-girlfriend. Both Gary Wang and Caroline Ellison have pleaded guilty and are cooperating with investigators.
Data
STRAX surged to $0.848, up more than 40% in 24 hoursAccording to market data, STRAX rose to touch 0.848 US dollars before falling back, and is now priced at 0.812 US dollars, with a 24-hour increase of over 40%. BlockBeats previously reported that Binance will launch STRAX 1-10x U perpetual contract on October 11th at 10:30 (GMT+8).
Justin Sun pledged 5000 ETH to Lido
According to Scopescan monitoring data, Justin Sun pledged 5,000 ETH (approximately $7.87 million) to Lido. On the evening of October 8th, Justin Sun withdrew 32,500 ETH (approximately $53 million) from Binance through four transactions and deposited 32,600 ETH (approximately $53.1 million) into Lido.According to The Data Nerd, GSR Markets withdrew 340,000 HFT tokens (approximately $11,860 USD) from Binance. In the past 12 hours, it has withdrawn a total of 1.38 million HFT tokens (approximately $425,000 USD). Currently ranked fifth in terms of holdings, GSR Markets holds 36.86 million HFT tokens (approximately $11.21 million USD).
A new wallet withdraws over 995,000 LQTY, worth about $1.45 million, from Binance
According to Loononchain monitoring, a new wallet has withdrawn 995,604 LQTY (approximately $1.45 million) from Binance.Gemini appoints Sachin Ranglani as Vice President and India Head, plans to expand staff
According to Blockworks, the cryptocurrency trading platform Gemini has appointed Sachin Ranglani as Vice President and India Head. Previously, Sachin served as Senior Vice President of Product Management at Indian fintech Paytm, and has worked at Uber, Amazon, and Infosys. It is reported that Gemini's entry into the Indian market is consistent with its expansion strategy in Singapore, with the goal of increasing its staff to over 100 by next year. As previously reported by BlockBeats, on September 26th, Gemini announced plans to invest INR 2 billion (USD 24 million) over the next two years to develop its development center in Gujarat.
某地址 40 分钟前将 1260 万枚 LOOM 存入 Coinbase，约合 244 万美元
Translation: According to Scopescan, the address starting with "0x11a7" earned 1.67 million US dollars by trading LOOM, which is more than three times its investment. 40 minutes ago, the address deposited 12.6 million LOOM coins (approximately 2.44 million US dollars) into Coinbase at a price of 0.193 US dollars.Bitcoin's market share has risen to 48.50%, with a daily increase of 0.42%.
According to CoinGecko data, Bitcoin's market dominance has risen to 48.50%, with a daily increase of 0.42%. Ethereum's market dominance is currently reported at 17.09%, while USDT's market dominance is reported at 7.52%. The total market value of cryptocurrencies on the entire network is currently about 1.1128 trillion US dollars, with a daily decline of 1.5%.
Related reading: "Token prices have doubled in a month, and the OG storage project Storj is on fire again".
The Financial Services Commission (FSC) of South Korea has released the results of its virtual asset business survey for the first half of 2023, which surveyed a total of 35 reporting companies (26 trading platforms and 9 wallet/custodian providers). The total market value of the surveyed companies' cryptocurrencies was 28.4 trillion Korean won (approximately 21.1 billion US dollars), a 46% increase from the end of 2022. The total operating profit was 227.3 billion Korean won (approximately 169 million US dollars), an 82% increase from 2022. The number of registered users increased by 19% to 9.5 million.
According to BitInfoCharts data, a dormant Bitcoin whale address that has been inactive for over 6 years was activated. At 23:32 yesterday, the address transferred all of its 2995.11 BTC (approximately $82.27 million) out. The whale address initially received 3200 BTC on May 7, 2016, and had no activity after transferring out 204.89 BTC on September 3, 2017.
Goldfinch 上 2000 万美元借贷池出现坏账，700 万美元存在损失风险
Translation:Goldfinch's $20 million lending pool experiences bad debt, with a risk of $7 million in losses
According to a report from CoinDesk, a $20 million loan pool on the RWA DeFi lending protocol Goldfinch's governance platform has experienced bad debt, with a risk of $7 million in losses. The loan pool provided a $20 million USDC loan to the fintech credit fund Stratos for a four-year term in February 2022, with a guarantee of 11% annual interest rate, and Warbler Labs was the underwriter. However, Stratos did not meet expectations for a real estate technology company REZI and digital asset investment, and Warbler Labs stated that it will make up for all losses to investors in the loan pool.
Related reading: "Goldfinch2000 $20 million loan pool experiences bad debt, a16z-favored RWA project faces frequent risks".
Coinbase executive Conor Grogan posted on social media that on-chain data shows that Alameda has minted 39.55 billion USDT, which accounts for 47% of the current circulating supply of USDT. A previous report by Protos estimated this number to be around 36.7 billion US dollars, and Conor Grogan updated the data by discovering additional wallets. According to data provided by SBF, the amount of USDT minted by Alameda exceeds its asset management scale during the peak period of the cryptocurrency market. However, obtaining information about redemptions is challenging, in part because Tether seems to be coordinating off-chain destruction.
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