Research Summary
The report discusses key developments in the cryptocurrency space, including a $5 million bounty offered to a KyberSwap hacker, South Korea’s plans for a large-scale CBDC trial, and LooksRare’s buyback and burn initiative. It also mentions the pre-trading of Aevo’s BLAST token, SquareEnix’s use of NFTs, and the max token supply reached by Trader Joe’s JOE token. Other topics include F2pool’s decision to stop censoring transactions and the performance of various digital assets.
Key Takeaways
KyberSwap Hacker and the White Hat Bounty
- Offer to KyberSwap Hacker: A hacker who stole $50 million from KyberSwap has been offered a $5 million (10%) white hat bounty if they return the funds by 6 AM UTC on 25 November.
South Korea’s CBDC Trial
- South Korea’s CBDC Experiment: South Korea plans to initiate a 100,000-person CBDC trial in late 2024. The trial aims to explore if CBDCs can address issues with government voucher systems, such as high fees and fraudulent claims. Participants will be able to purchase goods in stores using their CBDC.
LooksRare’s Buyback and Burn Initiative
- LooksRare’s Strategy: As LooksRare launches their 0% marketplace and royalty fees NFT collection- INFILTRATION, they have also initiated a buyback and burn initiative. 25% of all LOOKS used for healing in INFILTRATION will be burned, and 50% of the overall fee will be used to buy back LOOKS from the market. The LOOKS token has risen by 43% in the last 24 hours.
BLAST Token Pre-Trading and SquareEnix’s NFT Auction
- BLAST Token Futures Contract: Aevo’s BLAST token futures contract is currently trading at $3.40.
- SquareEnix’s NFT Auction: SquareEnix, the company behind the Final Fantasy video game franchise, will open the NFT auction for their upcoming Ethereum blockchain-based game, Symbiogenesis, on November 27. The auction will be conducted in three waves.
TraderJoe’s Token Supply and F2pool’s Censorship
- TraderJoe’s Token Supply: DEX platform Trader Joe’s native token, JOE, has reached its max token supply of 500 million. An additional 10 million JOE tokens from the treasury are permanently locked, resulting in a total supply of 490 million JOE.
- F2pool’s Censorship: F2pool, a Bitcoin mining pool, will cease censoring transactions from addresses flagged by OFAC. This decision was made after Bitcoin developer 0xB10C discovered transactions being censored.
Actionable Insights
- Monitor the Outcome of the KyberSwap Hacker Situation: The response of the KyberSwap hacker to the white hat bounty offer could set a precedent for similar situations in the future.
- Follow South Korea’s CBDC Trial: The results of South Korea’s large-scale CBDC trial could provide valuable insights into the potential of CBDCs to address issues with traditional financial systems.
- Track the Impact of LooksRare’s Buyback and Burn Initiative: The success of LooksRare’s initiative could influence similar strategies by other NFT platforms.
- Observe the Performance of BLAST Token and SquareEnix’s NFT Auction: The performance of Aevo’s BLAST token and the outcome of SquareEnix’s NFT auction could provide insights into the current market dynamics of tokens and NFTs.
- Assess the Implications of TraderJoe’s Token Supply and F2pool’s Censorship Decision: The implications of TraderJoe reaching its max token supply and F2pool’s decision to stop censoring transactions could impact future strategies and policies in the crypto space.
