Research Summary
The report covers a range of updates in the blockchain and cryptocurrency space. Key topics include the launch of Sei Mainnet and its airdrop regulations, OpenSea’s decision to abolish mandatory royalties and discontinue support for Binance Smart Chain, the launch of Connext’s native token “Next”, and the completion of friend.tech’s seed funding round with participation from Paradigm. Other updates include the launch of ConsenSys’ Layer 2 network Linea’s Alpha mainnet, issues with Shiba Inu’s Layer 2 solution “Shibarium”, and Tether’s decision to halt USDT minting and issuance on certain chains.
Key Takeaways
Sei Mainnet Launch and Airdrop Regulations
- Launch and Airdrop: Sei Mainnet has officially launched, unveiling airdrop regulations and allowing users to check their eligibility for the airdrop through the official website. Whitelisted users must bridge their eligible assets to Sei.
- SEI Tokens: The Sei Foundation has set aside SEI tokens to reward testers as part of the “Atlantic Rewards” Sei distribution. SEI is now listed for spot trading on exchanges like Binance and Upbit.
- Addressing Exploits: The foundation has identified and addressed potential Sybil attackers, identifying and eliminating over 7,000 clusters, and has also detected and filtered out accounts attempting to exploit backend vulnerabilities.
OpenSea’s Policy Changes
- Abolishing Mandatory Royalties: OpenSea announced that starting from August 31st, they will begin implementing an optional mechanism for creator fees, discontinuing the OpenSea Operator Filter (a mandatory creator royalty tool).
- Termination of Support for Binance Smart Chain: OpenSea has decided to terminate their support for the Binance Smart Chain (BSC), as they believe the costs of continuing the support for BSC outweigh the benefits.
- Yuga Labs’ Response: Following OpenSea’s announcement, Yuga Labs will begin the process of discontinuing support for all upgradable contracts and any new series on OpenSea SeaPort.
Launch of Connext’s Native Token “Next”
- Token Launch: The Layer 2 network Connext announced that they will be launching their native token called “Next” on September 5th. Connext also plans to airdrop Next tokens to early users on Polygon, Arbitrum, Optimism, and Gnosis Chain.
- Funding: In June 2023, Connext raised $7.5 million in funding at a valuation of $250 million, bringing their total funding to $23.5 million.
Actionable Insights
- Investigate the Potential of Sei Mainnet: With the launch of Sei Mainnet and its airdrop regulations, there may be opportunities for users to participate and benefit from the airdrop.
- Consider the Implications of OpenSea’s Policy Changes: OpenSea’s decision to abolish mandatory royalties and discontinue support for Binance Smart Chain could have significant implications for creators and users on the platform.
- Explore Opportunities with Connext’s “Next” Token: The launch of Connext’s native token “Next” and its planned airdrop to early users on various networks could present opportunities for early adopters.
