Starkware Confirms Starknet Token Launch
The Starknet token will have a total supply of 10 billion with an ERC-20 version coming to Ethereum.
Starkware confirms Starknet token launch.
GameStop NFT hits $1 million in 24-hour volume.
Pods Finance releases Pods Yields vault.
Animoca Brands raises $75 million.
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Starkware has confirmed the launch of its native Starknet token. The news comes after 3AC founder Zhu Su revealed details about Starkware token warrants in a letter to liquidators. The Starknet token will have a total supply of 10 billion with an ERC-20 version coming to Ethereum. The token distribution includes 17% for StarkWare investors, 32.9% for Starknet software developer partners, and 50.1% for a newly created Foundation. The foundation’s allocation is further broken down into 9% for StarkEx L2 users, 9% for community rebates, 12% for Starknet grants, 10% for ecosystem activities, 2% for donations, and 8.1% unallocated. The token is part of Starkware’s road to decentralization and will be used for governance, transaction fee payments on the network, and staking. Starkware plans to launch the token in September of this year. Next year, the company will release token allocations to the community based on verifiable work.
GameStop’s launched a public beta release of its NFT marketplace this week, generating more than $1 million in 24-hour volume. The non-custodial marketplace is built on Loopring’s Ethereum-based L2 network, enabling low-fee transactions. The marketplace has already surpassed Coinbase NFT’s all-time volume of 1,704 ETH. Users can connect to the marketplace with a browser-based wallet, including GameStop’s own wallet browser extension. GameStop earns a 2.25% fee for each sale as part of the marketplace fee. In February, GameStop partnered with L2 network Immutable X which included a fund of up to $100 million in IMX by Immutable.
Pods Finance, a decentralized options protocol, has launched its first Pods Yields vaut. Coined stETHvv, the vault focuses on ETH accumulation using a weekly stETH strangle to capitalize on volatility. A strangle is an options strategy in which both a call and a put option are held with different strike prices. Pods is opening the vault gradually with an initial cap of 500 stETH. The code is not yet fully audited. Pods finance supports vaults on Arbitrum, Ethereum and Polygon. Pods Finance is a Brazil-based DeFi protocol seed funded by Boost VC and The LAO.
Game publisher Animoca Brands has raised $75 million in fresh capital at a $5.9 billion valuation. The funding was the second part of a previous round in January, which raised close to $360 million at a $5.5 billion valuation. The company’s valuation has more than doubled from a $2.2 billion valuation in October 2021. Animoca Brands said it will use the fund for acquisitions, investments, and product development. The company also plans to secure licenses for IP rights in popular projects. Animoca Brands’s investments include more than 150 NFT-related projects including The Sandbox, OpenSea, and NBA Top Shot.
Aztec Network, a privacy-focused ZK-rollup, updated its website after the launch of Aztec Connect. The Aztec team is the inventor of Plonk, an industry-standard universal zk-SNARK. More than 6k users have made deposits into its zk.money privacy dapp. In total, users have deposited more than 1500 ETH into the rollup.
Argent Integrates Layerswap On Argent X
Users can now use Layerswap to bridge funds from centralized exchanges.
Hackers steal 7,500 ETH in a Uniswap V3 phishing attack.
Celsius pays back $113 million in DeFi loans.
Lenstube launches on Polygon mainnet.
Optimism distributes Phase 0 governance tokens.
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Argent has integrated with Layerswap to enable CEX deposits onto the Argent X wallet. Argent X is a browser wallet for the StarkNet L2 network. Users can now use Layerswap to bridge funds from centralized exchanges such as Coinbase, FTX, FTX US, Binance, Huobi, OKEx, Kucoin, Bitfinex, and Kraken. Layerswap is a solution that allows users to deposit funds from a CEX into L2 networks
Optimism began distributing 36.6 million $OP tokens to Phase 0 projects that successfully requested tokens from the governance fund. In total, the governance fund consists of 5.4% of the total $OP supply. Slingshot, Clipper Exchange, Perpetual Protocol, and Gelato are among the projects that have already received the funds. The governance fund is broken down into two phases, with Phase 0 distributing 0.8% of the total $OP supply and Phase 1 distributing 4.6% of the total $OP supply. 12.3 million $OP remains in the OP wallet for Phase 0 distributions. The grants were designed to reward existing projects that have driven the growth of the Optimism ecosystem.
Uniswap LPs fell victim to a phishing scam resulting in a hacker stealing more than 7,500 ETH in V3 positions. An attacker airdropped malicious tokens to Uniswap LPs and manipulated data so that block explorers index the "From" field as the legitimate "Uniswap V3: Positions NFT" contract. The name of the token directed users to a malicious website that claimed the users could swap the tokens for UNI. The website directed users to sign a “set Approval For All” transaction, giving the attacker the ability to redeem the user’s Uniswap v3 LP tokens. The attacker then laundered the funds through Tornado Cash in batches of 100 ETH. Binance CEO CZ had mistakenly announced the attack as an exploit on UniswapV3. Uniswap creator Hayden Adams later addressed the issue as a phishing scam unrelated to the protocol itself.
Celsius Network has paid back $113.1 million towards its DeFi loans on Aave and Compound. The company’s debt in DeFi protocols is down to $123 million, compared to $236 million last week. The loan repayments have allowed the company to withdraw 400k stETH from its collateral, which is currently worth about $428 million. Last week Celsius paid off a $41.2 million DAI loan on MakerDAO to unlock $440 million worth of WBTC. It remains unclear if Celsius plans to trade stETH for ETH, which would result in further losses to do a slight de-peg. User accounts on Celsius have been frozen since June 12th.
Lenstube, an open-source video-sharing platform built on top of Lens Protocol, is now live on Polygon mainnet. Tape uses Arweave’s Bundlr Network to store videos permanently on IPFS. Anyone with a lens handle is now able to use Tape to watch or upload videos. Similar to Lenster, users can collect video content as an NFT. The platform allows creators to monetize by setting membership fees for their channel and being able to receive tips. Creators can also customize who can collect videos and associated fees. The social media platform features a YouTube-like user interface with the ability to subscribe to channels and like and comment on videos.
Uniswap 1BPS Fee Tier On Optimism
A 1 bps fee tier provides traders with better rates and increases swap volume.
Uniswap proposes a 1bp fee tier on Optimism.
Teller launches “buy now pay later” for NFTs.
PoolTogether adds support for Optimism.
Hop Protocol releases its transfer delay post-mortem.
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A proposal for a 1bp fee tier on UniswapV3 for the Optimism network is now live for voting. A 1 bps fee tier provides traders with better rates and increases swap volume. Uniswap is targeting Optimism first as projects are currently incentivized to bring activity to the L2 by way of its $OP governance token grants. Last year, Uniswap implemented a 1 bp fee tier for V3 on Ethereum Mainnet and Polygon. Curve governance later moved to change the 3pool base fee to 1bp in order to stay competitive. Currently, the lowest fee tier on Uniswap for L2 networks is 5bps. Voting for the proposal is taking place on Ethereum Mainnet until July 15th.
PoolTogether, a prize savings protocol, has added support for deposits on Optimism. The protocol already supports USDC deposits on Ethereum, Polygon, and Avalanche. With PoolTogether, users deposit USDC into a savings account for a chance to win a share of daily prizes. The protocol uses deposits to earn yield on protocols like Aave. PoolTogether uses ChainLink VRFs to raffle the interest earned from user deposits. Each depositor has a chance to win interest payments weighted by their average deposit size. The platform is coined as a No Loss protocol because user funds are not wagered and can be withdrawn at any time.
Reaper Farm, an auto-compounding yield aggregator, has added support for Optimism. The integration currently supports deposits into four of Reaper Farm’s Crypts, which are buckets with various strategies including pooling, leveraging, and staking. The platform first launched on Fantom and remains in the beta phase.
Teller Protocol has revealed the launch of its “Ape Now, Pay Later” dapp for financing NFTs. The application works by locking NFTs in an escrow wallet during the repayment cycle. The NFT is then released once a loan is paid in full. Currently, the service offers 90-day loans at 30% APR. Depending on the project, buyers are required to pay a minimum down payment between 25% and 50%. If a borrower fails to make regular monthly payments, the down payment and NFT is liquidated to repay the loan. The funds are provided by users who offer liquidity through Teller’s crypto lending platform.
Hop Protocol released its transfer delay post-mortem, revealing issues it faced from Arbitrum Odyssey’s bridge week. During heavy traffic, some users reported a delay of up to 3 days when bridging assets. One issue was tied to the number of transfers being made exceeding the number of transfers the bonder could process. Hop also faced RPC issues including downtime and 42 missed events from the Alchemy RPC, which is used by some bonders. A third party also allowed its users to bridge with Hop even when there was no liquidity. All transfers on the bridge were eventually completed without any loss of funds.