Dr.DODO brings you our newly launched weekly brief - DODO Megascope, which covers the following sectors:
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Crypto Headline
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Governance Updates
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Sector Delivery
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Data check
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CT Insights
👀 |Crypto Headline|
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SBF said it has voluntarily filed for bankruptcy reorganization proceedings under Chapter 11 of the U.S. Bankruptcy Code, FTX, FTX US and Alameda, and has resigned as FTX CEO. FTX was exploded with at least $8.8 billion in debt. The FTX incident caused a series of chain reactions in the market.
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Following the FTX incident, major centralized exchanges have successively prepared to issue reserve certificates, among which plans have been announced: BitMEX, Bybit and OKX.
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The Financial Services Agency of Japan has ordered FTX Japan to suspend operations.
🗣️ |Governance Updates|
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SafeDAO did not pass the proposal to make SAFE tradable.
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According to recent market events, the MakerDAO risk core unit has put forward an emergency parameter change request, and plans to exclude some tokens whose value has declined as collateral.
🍀 |Sector Delivery|
DeFi
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DeFiLlama launches CEX transparency dashboard.
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DFX Finance was attacked with a serious vulnerability and lost about 3000 ETH.
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Solana lending protocol Solend has a bad debt risk due to network congestion. The LTV is as high as 91.1%, which has exceeded the liquidation threshold of 85%.
GameFi&NFT
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Opensea will continue to collect royalties on all existing NFTs.
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Sudoswap will launch a new liquidity pool focused on full on-chain royalty execution, gas optimization and customizability.
Infra
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Climate Chain Coalition at COP 27 A report on blockchain and emerging technologies.
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Oil giant Shell will sponsor the Miami Bitcoin Conference for two years and will showcase new cooling solutions to improve Bitcoin mining.
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A16z Crypto launches Helios, an Ethereum light client that converts data from untrusted centralized RPC providers to verifiably secure local RPCs. Helios works with centralized RPC and can verify its authenticity without running a full node.
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MetaMask launched the cross-chain bridge integration function. Currently, the integrated cross-chain bridges include Connext, Hop, Celer cBridge and Polygon Bridge.
VC
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Genesis Trading announced on November 10 that it will receive an additional equity infusion of $140 million from its parent company Digital Currency Group.
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Crypto wallet development company Fordefi has raised $18 million led by Lightspeed Venture Partners.
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Blockchain analysis company TRM Labs completed a $70 million Series B+ financing, with participation from Goldman Sachs and PayPal Ventures.
✨ |Data check|
With the bankruptcy of FTX, users are aware of the lack of transparency when they keep their crypto assets in CEX. Meanwhile, some CEXs have announced that they will provide proof of reserves in order to make the "black box" custody of crypto assets more "transparent".However, users' trust decrease gradually, and even @elonmusk said in TS: crypto assets should be kept in cold wallets.
- As of Nov 13th, the indicators of DEX-CEX spot trading volume and DEX-CEX futures trading volume have both increased significantly by nearly 50% compared to the previous month.
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With the trading volume of DEX to CEX increasing significantly, more and more CEXs are pointed out that there is a danger of bankruptcy which causes the "withdrawal movement" keeping forward.
These pictures show the flow of various assets (including stablecoins and ETH) on exchanges in the past 7 days. It is not difficult to see that billions of assets are flowing out from various mainstream exchanges.
- Meanwhile, the total amount of stablecoins and ETH in exchanges both have a sharply decline.
- Crypto assets continue to flow out of CEX to personal wallets, and choosing a cold or hot wallet is also worth paying attention to. According to Google trend data, the attention of cold wallets has increased significantly compared to hot wallets.
It is believed that protecting the security of your coins will be one of the hot topics which will continue to be followed.
🎵 |CT Insights|
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Blur on-chain data analysis: