DailyFi - 1.20 | Crypto.com Released Security Report and Following Moves
DeFi
Ondo Finance Announced the Addition of PhononDAO to its Shared Services Program with Frax Finance
The DeFi risk market agreement Ondo Finance announced that PhononDAO had joined its common service plan with Frax Finance. Due to the ongoing token upgrade, it is particularly important for the PhononDAO community to guide the initial liquidity of $PHONON. It is reported that the three parties plan to create an initial $FRAX/$PHONON pool. Ondo Finance is also exploring the creation of $ETH/$PHONON pools that allow community participation. Source
Nym Launched CosmWasm-based Smart Contract Platform Nyx
Privacy Infrastructure Nym introduces Nyx, a CosmWasm-based smart contract platform that allows users to write smart contracts using a secure subset of the Rust programming language, export to WebAssembly, and upload them on the blockchain. CosmWasm is a smart contract platform on the Cosmos SDK. Nym is a decentralized infrastructure that provides privacy for a wide range of message-based applications and services. Previously, Nym closed a $13 million Series A round of funding led by a16z in November 2021. Source
Osmosis Announced Support for Ethereum Assets
Cosmos Ecosystem DEX Osmosis has launched “Gravity Bridge” as a tool for bridging Ethereum assets. Osmosis will enable connectivity to Ethereum and the ability to trade assets on Ethereum, boosting the TVL of AMM on Cosmos. Source
Coinbase Will List Shping ($SHPING)
The shopping App Shping token $SHPING will be live on Coinbase soon. At present, the user deposit has been opened. If the liquidity conditions are met, the transaction will begin at or after 1 a.m. Beijing time on January 21. Shping is a shopping app that allows users to scan product barcodes to compare prices, write reviews to interact with products, and store receipts, all of which can be rewarded with $SHPING. Source
League of Kingdoms Announced Partnership with Avocado Guild
MMO strategy blockchain game League of Kingdoms has announced a partnership with Avocado Guild, a game guild. League of Kingdoms is a massively multiplayer strategy game built on Ethereum which previously closed a $3 million seed funding round in December 2021 with participation from a16z, Binance Labs and others. Avocado Guild is a P2E gaming guild that previously closed an $18 million Series A round of funding led by Animoca in November 2021 and launched a “scholarship” program to incentivize members to earn money by playing P2E games. Source
THORChain Now Supports $DOGE Transactions
The decentralized cross-chain transaction agreement THORChain now supports $DOGE transactions. Users can now use thorswap to replace $DOGE with $BTC, $ETH, $BNB, and other stable currencies. It is reported that the pool enables $DOGE liquidity providers to earn deposit income from transaction fees. Like other liquidity providers on THORChain, depositors enjoy non permanent loss protection according to the length of time of each deposit. As of January 19, $DOGE pool had nearly $4 million in liquidity, and the APY of liquidity providers was as high as 15%. Source
Crypto.com Released Security Report and Following Moves
Crypto. com release safety report and following moves. The report said that the security incident on January 17 caused a total of 4,836 $ETH, 443.93 $BTC and other asset losses worth $66,200. At present, the official has fully compensated for the capital losses of all affected accounts. In addition, the official introduced an additional security layer on the 18th, adding a mandatory 24-hour delay between registering a new whitelist withdrawal address and the first withdrawal. The user will be notified that the withdrawal address has been added, so as to have enough time to respond and respond. Next, they will launch the Global Account Protection Program (WAPP) in specific markets on February 1. Source
NFT
Parallel is About to Have an NFT Auction
NFT science fiction card game Parallel NFT will auction a single version of NFT and donate all proceeds to the online learning platform Khan Academy. The auction will start at 6 a.m. Beijing time on January 21 and last until 6 a.m. on January 22. Parallel is an NFT science fiction card game. Its goal is to connect all card users and expand the ecological influence of the game. Previously, Parallell received a $50 million investment from Paradigm in November 2021, with a valuation of $500 million at that time. Source
Adidas and Prada Will Collaborate Again to Launch NFT
Adidas and Italian fashion luxury brand Prada will once again cooperate to release a joint model NFT. It is reported that this cooperation NFT series will not only be shoes, and will be officially released at 21:00 Beijing time on January 24. Source
Fundings
Secret Network Announced $400 Million Ecosystem Fund
Secret Network, the privacy public chain, announced the launch of its $400 million Ecosystem Fund, which includes a new $225 million Ecosystem Fund and a $175 million Accelerator Fund, backed by 25 existing investors and partners. The ecosystem fund will be used to expand the project’s application layer, network infrastructure, and tooling. The accelerator pool will provide non-dilutive capital, grants and incentives via its native token SCRT to quickly expand user adoption. The ecosystem fund is said to be led by SCRT Labs, which includes DeFiance Capital, Alameda Research and others. Secret Network is a decentralized ecosystem that utilizes trusted execution environments to enable private, secure computation over encrypted data. The ecosystem has four components: Secret Tokens, Secret Bridges, Secret Finance and Secret NFTs. Source
a16z Plans to Raise $4.5 Billion for Two New Funds
Cryptocurrency venture capital firm a16z plans to raise $4.5 billion for two new funds. The firm reportedly plans to raise $3.5 billion for its new cryptocurrency venture fund and another $1 billion for another fund that will invest in seed funding for digital asset startups. Source
Infinity Force Closed $5.5 Million Seed Funding Round Led by Animoca Brands
Infinity Force, a guild management system, closed a $5.5 million seed round led by Animoca Brands with participation from Jump Capital, SkyVision Capital, MEXC and others. The raised funds will be used to further scale the platform’s functionality and facilitate the transition into Infinity Force DAO, a decentralized autonomous organization. Infinity Force is a management system serving the play-to-earn (P2E) ecosystem. It’s product provides end-to-end software as a service, encompassing guild creation, nonfungible token (NFT) asset lending, player recruitment and training, as well as performance management, payment automation and data analytics. Source
Carry1st Closed $20 Million in Financing Led by a16z
South Africa-based gaming platform Carry1st has closed a $20 million funding round led by a16z, with participation from Avenir and Google. The funding is reportedly a16z’s first investment in the African region. The raised funds will be used to expand its content portfolio, grow its development team, and expand into new growth strategies. carry1st is a game trading platform and is also building its own payment platform. Its embedded payment solution allows underbanked consumers to pay for content on its site via cryptocurrency. Source
NFT Platform Autograph Closed $170 Million Series B Funding Round Led by a16z and Others
Autograph, an NFT platform, has closed a $170 million Series B round led by a16z and Kleiner Perkins, with participation from 01A, Nicole Quinn and Katie Haun. Haun, along with a16z general partner Arianna Simpson and Kleiner Perkins partner Ilya Fushman, will reportedly join Autograph’s board of directors. Autograph is a sport and entertainment NFT platform created by American football player Tom Brady that helps celebrities in sports, popular culture, fashion and entertainment to sell NFT. Since its launch in July 2021, it has launched NFT collections including Tom Brady, Tiger Woods, Naomi Osaka, The Weeknd and more. Source
IndiGG Closed $6 Million in Financing with Sequoia Capital India and others
Indigg, a SubDAO of Yield Guild Games, closed a financing of $6 million, which was invested by Sequoia Capital India, Animoca Brands, Lightspeed Venture Partners and Jump Capital. The raised funds will be utilised by IndiGG to focus on several key areas to fuel platform growth and onboard Indian gamers to the Web 3 world of P2E. As well as driving local education of the P2E movement, expanding the team, and organising community events. It is reported that Indigg will soon support Axie Infinity, Pegaxy, Fancy Birds and other NFT assets then introduce new games to the Indian market. Indigg is YGG’s SubDAO, which mainly incubates P2E game talents in India. Source
