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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New Cosmos white paper repurposes ATOM token and refines vision.
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Voyager completes successful auction and announces agreement for FTX to acquire its assets.
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Chainlink announces Chainlink Economics 2.0.
🗣️ |Governance Updates|
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Lido proposes to seek to set the maximum commission for a validator to be eligible to receive delegation from Lido on Solana to 5%.
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Bankless DAO proposes to consolidate the voting power of the airdropped SAFE tokens to the delegation of BanklessDAO (DAOplomats Working Group) to participate in SAFE governance.
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Gnosis proposes to approve 58,500 DAI and 400 GNO to fund a research project to create an in-depth Gnosis Ecosystem Report and Live Ecosystem Dashboard that can help attract new resources to Gnosis and improve resource coordination among existing stakeholders.
🍀 |Sector Delivery|
DeFi
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The MEV bot "0xbad" arbitraged 800 ETH from it, but then an anonymous attacker discovered a code loophole in the bot's arbitrage contract and stole all 1101 ETH in the "0xbad" wallet.
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Nexo-labeled address withdraws $153M in Wrapped BTC from MakerDAO.
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Euro Stable Angle's Curve AMOs Go Live.
GameFi&NFT
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According to @hildobby’s Dune dashboard, the NFT market’s trading volume has fallen from over $17.1 billion in January 2022 to around $466 million in September, a 97% drop. The number of transactions fell from nearly 5 million in April to around 1.6 million in September, a drop of 68%.
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Immutable X will have 254,862,617.5 IMX unlocked on November 5th, accounting for 12.743% of the total supply (2 billion). Among them, 6.73% belong to the project team, and 6.01% are private equity shares.
Infra
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Circle introduces bridging protocol focused on USDC payments.
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StarkNet to relaunch main net after the launch of Cairo 1.0.
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SWIFT partners with Chainlink for cross-chain crypto transfer project.
VC
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Spencer Ventures raised $4.5 million earmarked for NFT investing in the bear market.
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Multi-chain onboarding platform Aikon has raised $10 million from investors such as Morgan Creek Digital, Blizzard and Mighty Capital.
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Deribit raises funds from existing investors at $400 million valuation: Sources.
✨ |Data check|
Maximum Extractable Value (MEV) is the maximum value that can be extracted from a block production that exceeds standard block rewards and gas fees by including, excluding, and changing the order of transactions in a block. Flashbots is an R&D organization that aims to mitigate the negative externalities that MEV creates on stateful blockchains, starting with Ethereum. With Merge, MEV payments for Flashbots auctions on Ethereum moved from miners to validators.
- Last year, a total of 1,406 unique searchers participated in MEV through Flashbots, with about 100 active daily.
- However, seven arbitrage bots extracted 70% of the total MEV arbitrage drawn on Ethereum over the last year.
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For sandwich attacks and arbitrage, a small group of searchers end up with most of the profits. The most profitable one netted $39 million, or more than 30% of the $125.7 million in total profits (after miners’ fees) from DEX arbitrage over the past year.
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EigenPhi data shows that the MEV profit in the past 30 days is $4.85m for Arbitrage, $1.34m for Sandwich, and $187.44k for Liquidation. On September 27, an unlucky user tried to swap $1.85 million of Compound cUSDC for USDC on Uniswap v2, and the lack of liquidity meant he only received $500 in USDC. Arbitrage bot 0xbad made a profit of $1.02m from this trade via MEV.
- Arbitrage has the largest amount of money in Balancer V2 in the past 30 days, with 147 arbitrage addresses and 36 asset types.
- $0 - $1 is the profit range where the Sandwich and Liquidation volumes occur the most. Sandwich had 130 attackers and 20,842 victims in the past 30 days; Liquidation had 43 liquidators and 647 liquidated borrowers.
🎵 |CT Insights|
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zk-SNARKs enables cross-chain bridges to perform at a highly secure and decentralized level.
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a16z presents special edition: all things zero knowledge:
https://a16zcrypto.substack.com/p/special-edition-all-things-zero-knowledge