DODO Megascope 10.31-11.4 (En)

November 8th, 2022

Dr.DODO brings you our newly launched weekly brief - DODO Megascope, which covers the following sectors:

👀 |Crypto Headline|

ZK Hack returns for Season 3 with ZK Hack III - 4 weeks of workshops and puzzle hackathon events starting November 22, 2022.
Circle has begun transferring USDC reserves into a fund set up by BlackRock.
Monetary Authority of Singapore: Cryptocurrency exchanges must comply with Russian sanctions.
Crypto businesses and their employees have contributed $73 million to the U.S. 2022 midterm elections, more than the defense and auto industries combined for this election, and well above the $13 million in the 2020 cycle.

SafeDAO's proposal to open the tradability of SAFE tokens, voting will end on 11.10.
The Aave DAO proposal aims to use USDT as collateral for the Avalanche V3 market.
Ribbon Lend proposal vote to enable referral program.

DefiLlama adds loan routing to Lending Optimizer and Delta Neutral Strategy pages including MakerDAO, Liquity, Angle, Pando Leaf and Kave Mint.
Voltz partners with automated DeFi strategy builder Mellow Protocol to launch liquidity provider optimizer vault.

Arweave is now integrated into Meta to store digital collectibles for Instagram creators.
NFT market Quix launched OP Bridgooors NFT, users of Optimism NFT cross-chain bridge can claim.
The founder of XEN Crypto released XENFT on the OpenSea Goerli testnet.
StepN parent company Find Satoshi Lab launched MOOAR, a multi-chain NFT marketplace.

Public chain Sei: 1% of the token supply is allocated to incentivize the testnet and reward early members of the community.
ZkSync is developing the Ethereum Layer3 network "Opportunity".
Matter Labs released Baby Alpha, the first phase of the zkSync 2.0 mainnet.

WalletConnect, a Web3 communication protocol, raised $12.5 million, led by Shopify.
Token Flow, a blockchain data terminal, completed $12 million in financing, and Electric Capital participated in the investment.
Lens Protocol, a Web3 social protocol, received investment from FTX Ventures, the specific amount has not been disclosed.

On Nov. 2nd, CoinDesk posted the article about Alameda’s balance sheet which was dominated by $FTT. As of June 30, the company’s assets amounted to $14.6 billion. Its single biggest asset: $3.66 billion of “unlocked FTT“. Other significant assets included SOL and Solana Eco Tokens reached $3.37 billion. Liabilities were $8 billion, mainly $7.4 billion in dollar loans. The whole things stimulated the community's fear on Alameda’s insolvency.
$FTT has shown an obvious downward trend with the price of nearly $26 falling to $16 since Nov 2nd. However, influenced by the series of unpredictable events, the fluctuations also ushered in more trading volume; Meanwhile, the $SOL started falling in the early hours of Nov 6th.

After CZ said Binance started to liquidate the remaining $FTT and Alameda's CEO said they were willing to purchase the whole token at $22, $FTT started to fluctuate sharply which made community fear about the FTX exchange.

As a result, it caused a massive run on the bank. The assets of one FTX hot wallet fell from $2.4 billion to $1.8 billion in 24 hours. And there were only 1.3 billion with few $ETH and stablecoins as of 3:00pm(UTC+8).

FTX continues to pool funds from multiple sources to handle users' withdrawal issues.

The figure below shows the inflows of USDC during the 48-hour period about the address labeled as FTX Exchange.

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