Planet Daily | The total transaction volume of friend.tech exceeds 30,000 ETH; the total market value of stablecoins hits the lowest level since September 2021 (August 22)


Headlines

Data: The current total market value of stablecoins is approximately US$123.3 billion, the lowest level since September 2021

According to DefiLlama data, the current total market value of stablecoins is about 123.3 billion US dollars, the lowest level since September 7, 2021. It fell by 0.94% on the 7th, and USDT market value accounted for 67.15%.


Cryptocurrency

HashKey will release a trading platform for retail investors on August 28, restricting the investment amount to less than 30% of the total assets, and will promote the supervision of derivatives

HashKey announced that it will release a trading platform for retail investors on the 28th (next Monday). Livio Weng, Chief Operating Officer of HashKey Group, said in an interview that retail investors can initially purchase BTC and ETH, and will limit investment in virtual assets to no more than 30% of total assets. Weng Xiaoqi said that a grading system will be established for retail investors. Investors' investment experience and risk-taking ability will be assessed through KYC procedures, and a questionnaire will be set up to judge whether they have a correct understanding of virtual assets. Novices can participate in relatively limited investments. The first batch of retail investors only BTC and ETH can be purchased. At present, the China Securities Regulatory Commission has not approved the provision of margins and derivatives. In the future, when the supervision permits, relevant products will be classified and various products will be launched to different types of users. HashKey will cooperate with a number of commercial banks to provide users with legal currency deposit and withdrawal services. It will first support US dollar transactions, and temporarily does not support Hong Kong dollars. For the time being, only bank card transactions are accepted, credit cards are not supported. If retail investors invest more than 30% of their total assets in virtual assets on the platform, a risk warning will appear and investment will be restricted. However, the platform cannot really verify the total assets of users, and only reliable users can provide it themselves. Weng Xiaoqi said that he will actively communicate with regulators to promote the supervision of stablecoins, and explore whether a certain degree of contract transactions and pledge products can be approved. It is expected that the launch of derivatives will be more tortuous. (Letter)

The BALD deployer cross-chained 1,500 ETH from Base to Ethereum, with a total of 9,048 ETH cross-chain

According to Spot On Chain monitoring, BALD deployers cross-chained 1,500 ETH from Base to Ethereum, leaving 677 ETH in Base. According to Odaily's previous reports, on August 14, BALD deployers cross-chained 7,548 ETH to Ethereum, deposited 2,100 ETH into Kraken, and transferred 5,448 ETH to Binance 16 hours ago.

Justin Sun redeemed 206 million DAI from the DSR pool, and deposited 257,000 DAI in 9 days

According to the monitoring of Ember, an analyst on the chain, after Maker’s DSR reduction proposal from 8% to 5% took effect, some giant whales withdrew from the DSR pool, including Justin Sun. Half an hour ago, Sun Yuchen redeemed 206 million DAI from the DSR pool, and then repaid the 235,556 wstETH that DAI will mortgage for redemption. The income of these DAIs deposited for 9 days is 257,000 DAIs, which have been converted into 154 Ethereums. Previously, on August 18th, MakerDAO passed the EDSR and stability fee adjustment proposal, and the DSR will be reduced from 8% to 5%.

Project Highlights

Multi-chain unified transaction infrastructure zkLink launched a new loyalty point system

The multi-chain unified transaction infrastructure zkLink announced the launch of a new loyalty points system. Loyalty points serve as proof of participation in the ecosystem and can be used to obtain future rewards and exclusive benefits; users can earn loyalty points when interacting with zkLink ecosystem DApps, performing on-chain tasks, interacting on social media, and actively participating in community activities . zkLink emphasized that it is collecting data from past activities, including old Loyalty Points, Loyalty NFT, Zealy Points, Weekly quizes OATs, Sograph OAT, Dunkirk OAT on Galxe, Dunkirk OAT on Aki Network, Community Calls and Points for AMA OATs and other smaller events. zkLink will collect, upload and airdrop credits to these users on Galxe in Q4 2023. zkLink reminds that in order to ensure fairness, strict anti-cheating measures will be implemented, and first-time offenders will be penalized and warned; users who continue to cheat after receiving warnings will be blacklisted and disqualified. In May of this year, zkLink announced the completion of $10 million in financing, with participation from Coinbase Ventures, Ascensive Assets, SIG DTI, BigBrain Holdings, and Efficient Frontier.

The opBNB testnet PreContract hard fork will be carried out on August 22

According to BNB Chain official news, the opBNB test network PreContract hard fork will be carried out on August 22. This upgrade includes setting the name of the pre-deployment contract WBNB to Wrapped BNB, setting the symbol to WBNB, deleting the GovernanceToken pre-deployment contract, etc.

The total transaction volume of friend.tech exceeds 30,000 ETH

Dune data shows that friend.tech’s transaction volume exceeded 30,000 ETH, an increase of nearly 50% in 15 hours, and the protocol revenue reached 1,383 ETH, an increase of 42% in 15 hours.


Investment and Financing

Blockchain-based AI-driven digital human service provider Prins AI completes $22 million A+ round of financing

Prins AI, an AI-driven digital human service provider, announced the completion of a US$22 million A+ round of financing. The new funds will be used to advance deep learning technology, expand the team, strengthen product development capabilities, and optimize marketing and sales efforts. According to reports, the platform uses blockchain technology and smart contracts to record the training and application records of AI digital humans, and uses a cryptocurrency reward mechanism to enable users to participate in AI digital human training programs. This technology has been applied to multiple scenarios such as radio and television media, brand marketing, e-commerce live broadcast/short video, education and entertainment, AR/VR/AI, NFT/metaverse, etc. It is said that the company previously completed a $10 million Series A round of financing, with investors including Base 10 and Kleiner Perkins. (FINSMES)

Global Policy

Russian Digital Ruble Launches Consumer Tests

Russia has begun consumer testing of a digital ruble, becoming the 21st country in the world to test a digital currency. The Central Bank of Russia said that the test will be carried out at 30 points of sale in 11 cities, 13 banks and 600 members of the public. The central bank plans to officially launch the digital ruble around 2025-2027, but has promised not to force people to use it. (Letter)

South Korea’s Gyeonggi-do requires public officials above level 4 to report virtual asset holdings by September 1

Gyeonggi-do, South Korea announced today that it has completed the revision of the Gyeonggi-do Public Officials Code of Conduct, requiring public officials above level 4 in Gyeonggi-do to report their holdings of virtual assets such as Bitcoin before September 1, and check with them if necessary. The relevance of their duties, and take preventive measures based on the information they have to prevent them from seeking personal gain in the course of their duties. It is reported that on December 14, the "Public Officials Ethics Act," which compels senior public officials to declare virtual assets, will be implemented. (News 1)

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Dogecoin chief developer: PoS mechanism has inherent flaws, if Dogecoin turns to PoS or chooses to quit

Dogecoin (DOGE) contributor and lead developer Mishaboar hinted in a reply to netizens on Twitter that if Dogecoin tries to transition to the PoS consensus, he may withdraw from the development of the project. He believes that the PoS mechanism is inherently flawed and may conflict with the core principles of Dogecoin. Mishaboar noted that many PoS chains fell short of expectations, showed a tendency to centralize, failed catastrophically, or became unwieldy to use. Additionally, Mishaboar highlighted potential difficulties with PoS mechanisms, as most of the token supply is held by cryptocurrency exchanges, as well as regulatory challenges that may arise. He also said that the things PoS is known for, such as energy efficiency and faster transactions, may not be important to Dogecoin’s specific use case. Other solutions such as payment channels and integrations with payment providers can achieve a similar effect without moving to PoS.

HKVAX Lianchuang: It will take half a year at the earliest to obtain the first and seventh types of licenses from the Hong Kong Securities Regulatory Commission, and plans to launch platforms, OTC and other services

Hong Kong Virtual Asset Exchange (HKVAX) Co-founder and Operations Director Huo Zhaoliang said that it will take half a year at the earliest to obtain the first and seventh types of licenses from the Hong Kong Securities Regulatory Commission. STO (Security Tokens) is subject to the regulations of the Hong Kong Securities Regulatory Commission. At the same time, HKVAX CEO Wu Weiliang said that Hong Kong supports the development of a global virtual asset center and is continuing to help the industry solve problems. Companies that have relocated to Singapore and Dubai have returned to Hong Kong again.

Deloitte: It is expected that more platforms will obtain Hong Kong licenses in the second half of the year

Lu Zhihong, managing partner of Deloitte China Digital Assets Hong Kong, said that currently only two licensed virtual asset trading platforms in Hong Kong, OSL and HashKey, are allowed to open investment to retail investors. If Hong Kong wants to become an international virtual asset center, only two licensed platforms are not enough to attract overseas platforms Only by coming to Hong Kong for development can more international Web3 talents and ecosystem-related businesses be brought together. It is expected that the Hong Kong Securities Regulatory Commission will successively grant more licenses. Previously, HKVAX also obtained the notice of approval in principle for the virtual property platform license from the China Securities Regulatory Commission.