Planet Daily | EigenLayer: The $5.7 million hacker attack was an isolated incident, and there is no loophole in the prot

Headlines

EigenLayer: $5.7 million hack was an “isolated” incident, no vulnerability in the protocol

EigenLayer official news, the unapproved $5.7 million token sale was caused by a hacker attack, but the incident was isolated and would not affect its ecosystem. The team said the leak was not related to any on-chain function.

EigenLayer stated that there are no known vulnerabilities in the protocol or token contracts. EigenLayer also stated in a community update that they will continue to investigate and release updates when more information is available.

The current EIGEN staked amount is higher than the circulating amount, because investors’ “locked” tokens can be staked.

Overseas KOL Ignas posted data on X, pointing out that the number of EIGEN currently in pledged state is larger than the number of EIGEN in circulation – the pledged amount is 242 million, and the circulating amount is 186 million (CMC and Coingecko data). This is because EigenLayer allows investors tokens in a locked state to be staked.

Ignas added that this is a common problem in the industry and TIA seems to have a similar problem. It dilutes the staking rewards available to real users and limits the token’s potential for appreciation, as the lower APY is not enough to attract people to buy these tokens from the market.

Analysis: Long-term Bitcoin holders are reducing their holdings, with their positions recently falling from $19 billion to $12 billion

According to CryptoQuant analysis, long-term Bitcoin holders (holding for more than 155 days) are reducing their positions, and their positions have recently dropped from $19 billion to $12 billion, while short-term holders positions have recently surged by $6 billion. (Cointelegraph)

gm.ai: So far, more than 51 million GMs have been repurchased from the open market

gm.ai posted on the X platform:

• So far, more than 51 million GMs have been repurchased from the open market;

• Buybacks will continue this week;

• An airdrop is ongoing for presale holders (buying back up to 80% of tokens, details to be announced soon).

• Up to 10% of GM buybacks will be used to extend the Anchor incentive period to avoid dilution.

Industry News

Analysis: A-shares are siphoning funds from the crypto market, but the rally is unlikely to continue

Recently, Chinas stock market has rebounded under the impetus of government stimulus policies, but this rise may be siphoning funds from the crypto market, affecting the rise of cryptocurrencies such as Bitcoin. Since September 24, the Shanghai Composite Index has risen by more than 20%, hitting a new high since May 2023. However, the price of Bitcoin is still hovering around $64,000 after Chinas stimulus policy, and has maintained a six-month consolidation period between $50,000 and $70,000.

Market observers pointed out that despite the Chinese governments launch of an economic stimulus package of more than 7.5 trillion yuan, which is widely seen as super positive news for Bitcoin and other risky assets, Bitcoin prices have not risen significantly. Danny Chong, co-founder of the Singapore Digital Asset Association, said that this capital transfer may be temporary, and once the upward trend of the Chinese stock market stabilizes, funds are expected to flow back into the crypto market.

Traditional market analysts believe that Chinas latest stimulus measures do not solve the fundamental economic problems and may not bring about a long-term rise in the stock market. TS Lombard pointed out in an October 2 report that unless some fundamental problems are solved, such as repairing the balance sheets of banks, any attempt to increase lending and leverage risk-taking may fail. BCA Research also said that the rise in Chinas stock market may not last. (CoinDesk)

Japanese listed company Metaplanet once again increased its holdings by 108.78 BTC

Metaplanet, a Japanese listed company, once again increased its holdings by 108.78 BTC, and its current total BTC holdings are 639.503.

Coinbase plans to remove non-compliant stablecoins from the European Economic Area in December

Coinbase will remove all unauthorized stablecoins from its cryptocurrency exchange in the European Economic Area (EEA) by the end of the year, which could be a heavy blow to tokens such as Tether Holdings USDT. The European Union will fully implement new rules regulating the crypto industry, known as MiCA, by the end of the year. Regulation of stablecoin issuers under MiCA takes effect on June 30 and requires them to hold an e-money authorization in at least one member state. The guidance for cryptocurrency exchanges and other companies operating in the EU will take effect on December 31. Given our commitment to compliance, we intend to restrict services to EEA users related to stablecoins that do not comply with MiCA requirements until December 30, 2024, a Coinbase spokesperson said. (Bloomberg)

Illyriad Games co-founded the Ethereum Improvement Proposal (EIP), hoping to reduce Ethereums block time by 33%

Illyriad Games co-founder Ben Adams initiated the Ethereum Improvement Proposal (EIP-7781), which aims to reduce the block time on the Ethereum network from the current 12 seconds to 8 seconds, increase Rollup-based latency, and increase Blob capacity to reduce second-layer network fees.

In addition to increasing mainnet throughput, the proposal also aims to distribute bandwidth usage over time, reducing peak bandwidth demand without increasing individual block or blob numbers.

Justin Drake, a researcher at the Ethereum Foundation, expressed his approval of the EIP on GitHub, saying that its proposal is consistent with some of the broader goals set by Vitalik and the Ethereum Extension Organization. Drake said that reducing block time will make decentralized exchanges such as Uniswap v3 1.22 times more efficient and can save approximately $100 million in CEX-DEX arbitrage each year, ultimately resulting in better execution for users. (Cointelegraph)

Project News

Vitalik sells another 10 billion MOODENGs and transfers 260.16 ETH to charity

According to Lookonchain monitoring, vitalik.eth sold 10 billion MOODENGs again 45 minutes ago to obtain 308.69 ETH (worth approximately US$762,000) and transferred 260.16 ETH (worth approximately US$642,000) to the charity Kanro.

vitalik.eth still holds 40 billion MOODENG, worth approximately US$8 million.

UniSat releases Q4 roadmap, including activation of runes on FB, support for CAT 20, update of PizzaSwap, etc.

UniSat released its fourth quarter roadmap, specifically:

October: Activation Runes, CAT 20 Identification and Transmission, CAT Marketplace;

November: FB voting, PizzaSwap major update, brc-20, runes and CAT 20 optimization;

December: zkAtomicSwap – efficient atomic swaps, advanced support for CAT protocol, major PizzaSwap update.

Source: FTX discount auction WLD token price expected to be slightly above $1

According to The Block, the price of WLD tokens in the FTX discount auction is expected to be slightly above $1, with a total of 22.3 million tokens, which will be unlocked linearly starting in 2028.

The market shows that the current price of WLD is $1.88.

Investment and Financing

Web3 game studio Moonray Studio raises $8.25 million in two rounds of funding

Web3 multiplayer battle arena game development studio Moonray Studio announced that it has raised $8.25 million in two rounds of financing, with participation from Animoca Brands, Polygon Ventures and Cardano. It has also established a game development partnership with Digital Void, a streaming content partnership with Reel FX, and user acquisition partnerships with gaming guilds such as YGG, Snack Club and Unix.

Moonray uses blockchain technology to enhance the gaming experience through asset ownership, customizable NFTs, and token rewards. The new funds will be used to launch a mobile version of the Autobattler game in the first quarter of next year.

Binance Labs announces investment in Sophon

According to market news, Binance Labs announced an investment in ZKsyncs elastic chain Sophon. The specific amount has not been disclosed. It is reported that Sophon uses Matter Labs modular open source framework to build a second-layer network. The main network will be launched next month and the token will be deployed soon. It is reported that the total amount of financing for Sophon has exceeded US$70 million so far (TheBlock)

This article is sourced from the internet: Planet Daily | EigenLayer: The $5.7 million hacker attack was an isolated incident, and there is no loophole in the protocol; the current EIGEN staked amount is higher than the circulation amount, because investors locked toke

Related: Financing Express of the Week | 18 projects received investment, with a total disclosed financing amount of approximatel

According to incomplete statistics from Odaily Planet Daily, there were 18 blockchain financing events announced at home and abroad from September 16 to September 22, which was a decrease from last weeks data (23). The total amount of financing disclosed was approximately US$128 million, which was a decrease from last weeks data (US$220 million). Last week, the project that received the most investment was the DeFi platform Drift ($25 million); followed closely by the Solana developer platform Helius ($21.75 million). The following are specific financing events (Note: 1. Sort by the amount of money announced; 2. Excludes fund raising and MA events; 3. * indicates a traditional company whose business involves blockchain): Solana Ecosystem DeFi Platform Drift Completes $25 Million Series B Financing, Led by Multicoin Capital On September 19,…