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Infinex Raises $67.7M in Patron NFT Sale to Usher in ‘Post-CEX Era’

Infinex Raises .7M in Patron NFT Sale to Usher in ‘Post-CEX Era’Decentralized finance (defi) platform Infinex has announced the completion of a $67.7 million NFT sale, backed by leading founders, foundations, funds, and communities across the blockchain ecosystem. The fundraise positions Infinex to usher in the “post-CEX (centralized exchange) era” of the crypto industry. Infinex aims to provide a secure, non-custodial alternative to traditional centralized exchanges, […]

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Memecoin craze fuels Solana price rally — Is $180 SOL the next stop?

A sharp uptick in Solana network activity and the blockbuster performance from memecoins back SOL’s rally toward $180.

Solana's native token, SOL (SOL), gained 12.1% from Oct. 11 to Oct. 18 and data suggests that the upward momentum was partially driven by demand for memecoins. Increasing demand translates to higher network volumes, fees, and total value locked (TVL). 

Traders are now debating whether the memecoin craze is sustainable and how SOL's price can continue to benefit from the surge in network activity.

While there is no fundamental basis for the surging demand for memecoins, it is clear that influential social media accounts direct traders' attention to the tokens. Take this  Oct. 12 post from pwnlord69 as an example.

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U.S. SEC Settles With Solana-Based DEX Mango Markets for Nearly $700,000 Over Alleged Securities Violations

U.S. SEC Settles With Solana-Based DEX Mango Markets for Nearly 0,000 Over Alleged Securities Violations

The U.S. Securities and Exchange Commission (SEC) has agreed to a settlement with the Solana (SOL)-based decentralized exchange (DEX) Mango Markets over alleged regulatory violations. The SEC alleges that the DEX’s decentralized autonomous organization (DAO) skirted registration provisions and deprived investors of critical protections. The regulator says Mango DAO raised more than $70 million from […]

The post U.S. SEC Settles With Solana-Based DEX Mango Markets for Nearly $700,000 Over Alleged Securities Violations appeared first on The Daily Hodl.

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Ethereum’s value accretion narrative under duress after 19% drop in ETH DApp volumes 

ETH price struggles to find reasons to rally after the network’s DApp volumes drop and Ether languishes near the $2,250 support.

Ether (ETH) has struggled to break above $2,450 for more than two weeks, and the recent 17% drop in Ethereum decentralized application (DApp) activity has raised concerns, particularly as it affects the layer-2 ecosystem. Traders are now questioning whether the current $2,250 support level will hold much longer.

On the positive side, Ethereum remains the dominant platform in terms of both activity and development, although competitors are gaining ground.

Top blockchains ranked by 7-day DApps volumes, USD. Source: DappRadar

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1inch reveals new cross-chain swap feature

1inch claims that the feature has built-in security against maximal extractable value (MEV) attacks. 

Decentralized exchange (DEX) 1inch revealed a new feature that allows users to swap their digital assets cross-chain while retaining self-custody of the assets. 

The “Fusion+” feature combines both onchain and offchain liquidity to deliver swaps. The DEX claims the feature has built-in protection against maximal extractable value (MEV) attacks. 

The feature is powered by atomic swap technology, which, according to 1inch, is designed to support “all-or-nothing” transactions. If a swap fails, all the funds are returned to the sender. 

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Risc Zero aims to bring blockchain security to ‘any’ off-chain app

Next-gen zero-knowledge proofs are “orders of magnitude” cheaper than existing options, Risc said.

Risc Zero is preparing to launch a service designed to use zero-knowledge (ZK) proofs to bring blockchain security to any off-chain application, according to a Sept. 16 announcement.

Called ‘Boundless’, the service seeks to resolve blockchain’s most vexing scalability challenges — including limits to transaction throughput and cross-chain interoperability— by “bypassing traditional onchain execution limits” with ZK proofs, Risc said.

Boundless is the latest in a proliferation of potential solutions to blockchain’s scalability constraints, which contribute to higher costs and slower execution times for transactions.

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Rollups Are ‘Copies of the EVM,’ Not True Scaling Solutions, Says Developer

Rollups Are ‘Copies of the EVM,’ Not True Scaling Solutions, Says DeveloperAccording to Adrian Brink, co-founder of Anoma and Namada, rollups offer little new functionality beyond the Ethereum Virtual Machine (EVM). He argues they are essentially execution-sharding solutions presented as true scaling solutions. Brink instead touts Plasma as the “only true scaling solution out there” because it enables constant data posting to the main chain “regardless […]

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Solana-Based DeFi Platform Mango Markets Drafts Proposal for Settlement Conditions With SEC

Solana-Based DeFi Platform Mango Markets Drafts Proposal for Settlement Conditions With SEC

A decentralized finance (DeFi) platform based on the smart contract platform Solana (SOL) is drafting a proposal to settle with the U.S. Securities and Exchange Commission (SEC). In a new community proposal, the decentralized autonomous organization (DAO) of Mango Markets (MNGO) has voted to settle with the SEC even though the regulator hasn’t formally charged […]

The post Solana-Based DeFi Platform Mango Markets Drafts Proposal for Settlement Conditions With SEC appeared first on The Daily Hodl.

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Mango Markets DAO mulls offering settlement with SEC

The proposed settlement involves Mango DAO neither admitting nor denying wrongdoing and paying a $223,228 fine. 

Mango Markets is considering making a settlement offer with the United States Securities and Exchange Commission (SEC) over allegations it violated US securities laws. 

The DAO that manages the Solana-based decentralized exchange (DEX) opened voting for an “SEC Settlement Offer Proposal” on Aug. 19.

The Mango DAO proposed a settlement that includes paying fines, destroying its MNGO tokens, and seeking delisting from trading platforms. 

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Increasing Ethereum network use strengthens the case for ETH price rally to $3K

Surging Ethereum network activity and growing adoption of layer-2 scaling solutions pave the way for an ETH price rally to $3,000.

Ether (ETH) rallied 16.2% on Aug. 8, but struggled to maintain levels above $2,600 on Aug. 9. Despite encountering stronger-than-expected resistance at $2,700, Ether remains well-positioned to extend its bullish trend, supported by a more favorable macroeconomic backdrop and heightened activity on the Ethereum network and its layer-2 solutions.

Some investors argue that outflows from the spot EtherETFs have been a drag on its performance. However, this could change as turnover from Grayscale’s ETHE instrument is slowing. The fund has historically charged much higher fees compared to its peers, and most investors were previously locked in as the Trust did not allow redemptions.

Ethereum educator Sassal highlights that, according to Farside Investors data, Grayscale’s ETHE recorded its lowest-ever outflows on Aug. 8 at $20 million, suggesting that the trend may be heading toward zero. Grayscale’s ETHE still holds $5 billion worth of Ether, so even if flows stabilize in the near term, the potential risk remains.

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