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Author: David C, Bankless; Compilation: Deng Tong, Bitchain Vision
Bankless summarizes the big events of the past week.
1. WLFI public sales start on October 15
World Liberty Financial (WLFI), a DeFi project linked to Donald Trump, announced that its public sales will begin Tuesday to raise $300 million at a valuation of $1.5 billion.
The sale accounts for 20% of the total token supply and more sales are planned in the future.These tokens are not transferable for 12 months, but can be used for governance immediately.The first phase includes the launch of a lending platform modeled on Scroll, where 7% of the token supply is allocated to Aave DAO for governance participation and liquidity provision.Future goals include integrating real-world assets and launching stablecoin-focused credit cards.
2. Market makers face fraud charges
U.S. attorneys accused Gotbit, ZM Quant, CLS Global and MyTrade of alleged market manipulation and market washing transactions.The action began with the FBI launching fake tokens on Ethereum and then allowing funds to trade in markets.More than $25 million in cryptocurrency has been seized and four defendants have pleaded guilty.
Related News: Market Maker Cumberland DRW is sued by the U.S. Securities and Exchange Commission for operating as an unregistered dealer.Cumberland responded that it has maintained ongoing communication with the SEC for the past five years and acquired a registered broker dealer in 2019 to meet its requirements.They believe they are right, so they won’t change their business despite being sued.
3. Uniswap announces the launch of Unichain
Last Thursday,Uniswap Labs has launched the highly anticipated Unichain, the upcoming L2 built using the OP Stack.Unichain aims to significantly reduce transaction costs and provide near-instant block time, aiming to improve DeFi scalability and solve the problem of liquidity dispersion.Additionally, when the chain is started, UNI will be used to validate the network and the stakeholder will receive a reward.
4. Memecoin debate heats up
The Memecoin farce has reached a white heat as ZachXBT releases 11 secret wallets from memecoin investor Murad Mahmudov.ZachXBT believes this transparency is crucial to prevent Mahmudov from selling to his followers, while critics say it puts him at unnecessary risks.
The controversy is exactly the same as previous debates surrounding influencers such as Ansem, who has been criticized for promoting low-cap tokens, most of which have dropped sharply in the weeks and months after he gained support.Both cases have sparked a new round of discussions on the ethical issues of using large platforms to promote volatile low-liquid assets,Some people think memecoin promotion is similar to gouging and selling plans, while others think it is part of a broader crypto culture.
