Golden Web3.0 Daily | AFME Suggests Potential DeFi Supervision Methods

DeFi data

1. Total market value of DeFi tokens: $48.096 billion

DeFi total market capitalization and top ten token data source: coingecko

2. The trading volume of decentralized exchanges in the past 24 hours is 3.87 billion US dollars

Source of trading volume data on decentralized exchanges in the past 24 hours: coingecko

3. Assets locked in DeFi: $44.064 billion

Data source: defillama

NFT data

1. Total market value of NFT: $16.481 billion

Data source of NFT total market capitalization and top ten projects by market capitalization: Coinmarketcap

2. 24-hour NFT transaction volume: 981 million **** USD

24-hour NFT trading volume, data source of top ten projects by trading volume: Coinmarketcap

3. Top NFT within 24 hours

Data source of the top ten NFT sales within 24 hours: NFTGO

Headline

AFME Proposes Potential Regulatory Approach to DeFi

Jinse Finance reported that the European Financial Market Association (AFME) published a paper on DeFi. With the EU’s recent adoption of Markets in Cryptoassets (MiCA) regulations, DeFi has been largely ignored. The document includes AFME's advice on potential regulatory approaches. According to the paper, current DeFi work can be viewed as an outsourced innovation and research and development (R&D) laboratory for the formal financial system. As DeFi erodes the lending and trading space, incumbents are eager to see a level playing field of regulation.

***NFT/Digital CollectionHot Spot

1. Bitcoin Ordinals Q2 volume reaches $210 million

Jinse Finance reported that the boom in Bitcoin Ordinals led to a sharp increase in transaction volume in the second quarter of 2023. Its transaction volume increased from $7.18 million in the first quarter of this year, bringing the transaction volume in the second quarter to $210.7 million. The growth rate is 2834%. Bitcoin Ordinals traded more than 550,000 transactions in the second quarter, with approximately 150,000 unique traders contributing to the inflated volume.

2. Binance NFT Market Launches Playbux Ultra NFT Series

On July 7th, Binance announced that the Binance NFT market launched the Playbux Ultra NFT series through the Subion Mechanism. There are a total of 3,000 Playbux Ultra NFTs in the series, and the launch of the series will follow the BNB prerequisites. During the preparation stage, from 08:00 on July 10 to 10:00 on July 12, Beijing time, users with a minimum daily average BNB holding of 0.1 BNB can participate in the initial sale of the Playbux Ultra NFT series. 3. Tom Brady’s NFT platform Autograph is expanding its focus

According to news on July 7, Autograph, an NFT platform founded by well-known American football player Tom Brady, is expanding its wider focus, helping celebrities cultivate loyalty to fans, and removing some encryption-related language from its marketing. A BusinessInsider report in May said Autograph had laid off about a third of its workforce, with 30 employees said to be affected, a person familiar with the matter said. Autograph has 107 employees, according to LinkedIn data. In January 2022, Autograph completed a $170 million Series B round of financing, co-led by a16z and venture capital firm Kleiner Perkins, with participation from 01A, Nicole Quinn from Lightspeed Venture Partners, and former a16z executive Katie Haun.

4. Vitalik Buterin: Ordinals revived Bitcoin’s builder culture

Jinse Finance reported that Vitalik Buterin, the co-founder of Ethereum, said in the Twitter space that Ordinals marks the return of the builder culture. The Ordinals are bringing back a culture of actually doing things, and it feels like the Retineye movement is really hindered, which is good. Buterin also praised Ordinals and the BRC-20 token standard, which he sees as a rejection of stagnant politics in the bitcoin ecosystem.

5. The second rarest BAYC #3953 was sold for 200 ETH

News on July 7th, BAYC #3953 was traded on OpenSea at 11:47 on July 7th for 200 ETH, or about $371,400. BAYC #3953 ranks second in rarity on platforms such as Blur, rarity.tools, and Rarity Sniper.

DeFi Hotspot

1. Modular blockchain project Avail launched a data proof bridge

Jinse Finance reported that the modular blockchain project Avail has launched a "data attestation bridge", a new product designed to reduce the cost of Ethereum's Layer 2 and Layer 3 chains, and help protect off-chain data security. The "Data Proof Bridge" is connected to Ethereum and can be used for ZK Rollup and Optimistic Rollup using Ethereum as the base layer. This data proof bridge establishes a connection between L2 Rollup data and L1 through Avail’s off-chain data availability layer.

2.Compound Labs launched the Encumber mechanism, which can separate token ownership and transfer rights

On July 7th, Compound Labs launched the Encumber mechanism, which is a mechanism that allows users to separate token ownership from transfer rights. When a token owner stakes their tokens to another account, it is allowed to grant that account the exclusive right to transfer tokens while retaining ownership. This enables token holders to commit to the terms in a smart contract without transferring ownership of their tokens to an external address. By using Encumber, token holders can retain airdrops, governance rights, or access to content and events while still participating in DeFi.

3.Arbitrum: AIP-1.1 and AIP-1.2 proposals have been voted through

On July 7th, the Ethereum Layer 2 network Arbitrum officially announced that the two proposals AIP-1.1 and AIP-1.2 of the Arbitrum community on expanding the supervision and governance power of ARB Token holders have been voted through, and said that 700 million ARB transfers to a smart contract controlled lock. Proposal AIP-1.1 proposes to place the Foundation's remaining 700 million ARB in a smart contract-controlled lock, unlocked within four years. According to the proposal, the Foundation will not be able to use Token until community members approve the Token allocation budget. Proposal AIP-1.2 aims to amend several governance documents of the Arbitrum ecosystem, including lowering the threshold for the number of ARBTokens required to issue improvement proposals on-chain from 5 million to 1 million.

4.Alchemix: Due to the suspension of Multichain bridging, the L2 exit plan is invalid

On July 7th, the DeFi lending agreement Alchemix tweeted that due to the suspension of Multichain bridging, the previously released L2 exit plan became invalid. In addition, Alchemix reminded users not to cross-chain tokens until the problem is resolved.

5. Paidun: about $1.92 billion was stolen in cross-chain bridge attacks in the past 3 years

Jinse Finance reported that, according to PieDun monitoring, Multichain has lost 126 million dollars worth of cryptocurrencies, ranking sixth on the list of cross-chain bridge vulnerabilities. In addition, Poly Network was stolen 25 million US dollars, ranking 8th. As of now, approximately $1.92 billion has been stolen in cross-chain bridge-related attacks over the past 3 years.

Metaverse Hotspot

**1.**AMC cooperates with Hares to launch the first ecological application game "Hare Planet"

According to official news, AMC and Hares teamed up to launch the first ecological application game "Hare Planet". The game will provide users with an immersive metaverse experience and ecological pass AMC. It will enhance the interactive and entertainment experience of the AMC community and enrich the AMC ecosystem. The cooperation between the two parties not only provides AMC users with a better ecological experience, but also brings new opportunities for the development of the Hares team in the field of blockchain games.

2. Japanese game giant Sega suspends the development of chain game projects

Jinse Finance reported that Sega Corp, a Web3 game advocate, is announcing its withdrawal due to the collapse of the global cryptocurrency industry. Sega’s co-COO Shuji Utsumi revealed to the media that the company has shelved its blockchain game project plans. Timely divest its well-known IPs such as "Sonic" and "Yakuza" from third-party blockchain game projects to avoid belittling their content value. In addition, when it comes to Sega's "super game" project that is expected to be launched in 2026, Shuji Utsumi did not make it clear whether the game will use Web 3.0 technology.