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stable currency
Layer 2
Algorithmic Stablecoins
public chain
Blast: Parameter configuration error caused a user to receive less than 100,000 DAI after depositing
Odaily News Blast official issued a document on the X platform stating that when a user deposits USDT, Blast Bridge will convert it to DAI in the deposit transaction. An incorrect slippage parameter configuration on the UI resulted in a user receiving 100,000 DAI less than they should have in two transactions. Blast stated that the configuration error has been resolved and will send affected users the amount lost due to slippage and an additional 10% bonus (a total of 110,000 USDT).
19 minutes ago
Grayscale met with the US SEC to discuss GBTC conversion to ETF, and recently hired former Invesco E
Odaily News The U.S. Securities and Exchange Commission (SEC) met with Grayscale on Thursday to discuss GBTC’s potential ETF conversion. Grayscale also recently hired longtime Invesco ETF executive John Hoffman, who will serve as Grayscales head of distribution and strategic partnerships. The SEC also met with representatives from BlackRock and Nasdaq on Wednesday. BlackRock previously applied for a Bitcoin ETF in June, and several other asset management companies followed suit. (CNBC)
31 minutes ago
Tiger Global writes down the value of its BAYC investment by 69% and the value of its OpenSea shares
Odaily News Bloomberg quoted people familiar with the matter as reporting that Tiger Global Management has written down the value of its investment in Bored Ape Yacht Club (BAYC) by 69% and written down the value of its shares in the NFT market OpenSea by 94%. (Bloomberg)
39 minutes ago
KOL’s Views
$USTC shut down after TFL broke off the relationship. I have also done some research on Mint Cash @wemintcash in the past two days, and I am also on the bus, so the interests are related. ✍️ Today I will give you a detailed calculation, one is 1.25x-12.5 How do the odds of x come about. I think what the founder said is very right: TFL should have tried to use this method to save the project 18 months ago. 🧵 The current method of Mint Cash, I think is the best solution to increase the value of $USTC: 1. Rules: According to the current valuation method of Mint Cash, it is how much USTC is finally deposited into the airdrop contract, and then the value of 1 US dollar is Calculating the project valuation, the current circulating supply of USTC is 9 billion. If half of the amount of 4.5 billion is locked, then the valuation of the new project will be 4.5 billion US dollars. 2. The valuation of 4.5 billion must be on the high side. Under conservative conditions, we reduce it by 10 times. The FDV of 450 million is relatively reasonable for an ordinary public chain, so we can calculate $USTC = $0.1. From the current price of $0.04, there is still room for at least 1 times more. 3. Why does the game say that Mint Cash’s plan is very smart? Because all $USTC in the airdrop contract must be destroyed, so there will be two situations: (1) If there are a lot of locked $USTC, then the remaining $USTC in circulation will The sudden decrease in the circulation of USTC will be very beneficial to the price increase and will also become a topic of speculation. However, many people directly use the entire $USTC circulation to calculate the valuation of new projects. This algorithm is wrong. If it is calculated this way, USTC will be bought up. (2) If there is very little $USTC locked up, the valuation of Mint Cash will be very low, close to reasonable or even underestimated. Users who lock up their positions in the airdrop contract are very likely to actually use $USTC. = $1 USD value exchanged for new project tokens. So the result of the game here is that either (1) or (2) will benefit $USTC, and the odds are very high. So do you expect more or fewer people to participate in Mint Cash? What are the current odds of $0.04? (1) If a lot of funds are involved, my personal estimate is that the highest is half of 4.5 billion USTC, then the valuation is 450 million at a 10% discount, and the current income is 1.25 times. (2) If the funds involved are very small, 10% of the amount is 900 million, the valuation is 450 million at a 50% discount, and the current income is 12.5 times. Of course, you can also not participate in the airdrop contract and sell $USTC at any time during the rise. In short, I agree with the founders point of view. This plan should have been implemented by TFL 18 months ago.
Topic|SEC hits CEX hard, and the encryption market is in a quagmire again
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The U.S. SEC confirmed receipt of the Fidelity Ethereum spot ETF application proposal submitted by C
Odaily News According to SEC filings, the Chicago Board Options Exchange (CBOE) submitted a proposed rule change to the U.S. Securities and Exchange Commission (SEC) on November 17, proposing to list BZX under Rule 14.11(e)(4). and trade the Fidelity Ethereum Fund ("Trust") spot ETF commodity trust shares. The SEC has acknowledged receipt of the proposal and will seek public comment on the rule change.
9 hours ago
Microstrategy plans to raise $750 million through common stock sale
Odaily News Microstrategy, Inc. (Nasdaq: MSTR) announced that according to the sales agreement signed with Cowen and Company, LLC, Canaccord Genuity LLC and BTIG, LLC (collectively, the agent) on November 30, 2023 , the company plans to raise up to $750 million through the sale of Class A common stock. The shares of Class A common stock have a par value of $0.001 per share and will trade on the Nasdaq Global Select Market under the symbol MSTR. As of November 28, 2023,
11 hours ago
MicroStrategy spent $593.3 million to purchase 16,130 BTC
Odaily News MicroStrategy spent US$593.3 million to purchase 16,130 BTC, with an average price of 36,785 USDT. Previously, MicroStrategy’s BTC holdings were 158,400. With the addition of this 16,130 BTC holdings, MicroStrategy’s total BTC holdings increased to 174,530. Previously, the holding cost of MicroStrategy was 29586 USDT. Including this purchase, MicroStrategys BTC holding cost has appreciated by 30,252 USDT. Compared to BTC’s current price of 37689 USD
11 hours ago
KyberSwap attackers proposed settlement conditions such as obtaining complete control of Kyber and h
Odaily News The KyberSwap attacker released the latest news on the chain and proposed a series of settlement conditions, including full executive control of the Kyber company, temporary full control of KyberDAOs governance mechanism to implement legislative changes, and the requirement to hand over all ties with the company/agreement Relevant documents and information. In addition, Kyber is also required to hand over all on-chain and off-chain assets. The attackers promised a series of compensat
13 hours ago
IntoTheBlock: Only 35% of ADA holders are in profit, key resistance level is $0.38
Odaily News IntoTheBlock data shows that despite the recent market rise, only 35% of ADA holders are in profit, which is significantly lower than other major protocols. On-chain data shows that the key resistance level of ADA is $0.38, and 7.19 billion ADAs have been purchased in this price range before. A breakout of this level for ADA could reduce resistance, potentially increasing profits for holders.
14 hours ago