Offchain Labs, the firm behind Arbitrum, is acquiring Prysmatic Labs, one of the core engineering teams behind Ethereum's transition to Proof-of-Stake. The Prysmatic team will continue to maintain the Prysm client, a popular Ethereum consensus layer client. They will gradually spend more time developing the future of layer 2. Offchain Labs has raised over $120 million from investors since its founding in 2018.
Mango Markets was hacked for around $100 million. The incident effectively drained all of the available equity on the platform. The hacker made a Mango governance proposal to waive any criminal investigation, provide a bounty, and waive any bad debt on the protocol. 99% of votes so far are in agreement with the proposal.
Aera is an autonomous data-driven treasury protocol. It features individual vaults, independent rebalancing, and uninterrupted visibility and access to assets for DAOs. The protocol rewards profitable decisions and penalizes decision-making that results in losses. Every rebalancing proposal requires decision-makers to put their money on the line. Aera aims to increase capital efficiency, save on operating costs, and minimize governance intervention.
StoryDAO is an experiment in community world-building. It aims to grow entire IP universes that are owned by the community. StoryDAO will use web3 technology to make new systems where creators can work together to create new intellectual property together. The first StoryDAO universe will launch in November. This article features an interview with StoryDAO's creators where they discuss their goals and plans for StoryDAO.
ApeWorX is a Python-based smart contract development and deployment framework. It features a plugin system that makes it completely customizable to specific smart contract needs. ApeWorX has everything a developer would want and expect from a framework. Its safe private key management makes it easier to deal with accounts.
nxyz is a multi-chain indexing product suite that exposes real-time blockchain data through low-latency APIs. It was created by some of the same developers that built the early infrastructure of Google Search and Ads serving systems. nxyz's APIs provide access to NFT, fungible token, and balance data. Users can specify custom indexing patterns for any contract.
Stablecoins may be one of crypto's current best use cases. Regulators are starting to focus on stablecoins as the route through which to regulate the entire industry. Investigations have primarily revolved around transparency and how cryptocurrencies could affect traditional financial markets. USDT and USDC have grown in size by 353% and 1,400% respectively in just two years.
Sam Bankman-Fried will look at Celsius, but he sees little left to buy in the rescue market. He hopes that FTX will soon start returning funds from Voyager back to investors. Bankman-Fried said that the company has made most of the moves it planned for. It will remain engaged with the market and open to opportunities. Bankman-Fried thinks that regulatory inaction is partially to blame for the crypto winter.
Polygon zkEVM serves as a platform for users to build applications and transact directly while outsourcing settlement, consensus, and data availability to Ethereum.
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