Aave protocol suspends Ethereum borrowing

Edition #33 - 04 SEP 2022


Aave community has voted in majority to approve the proposal to temporarily halt Ethereum borrowing until the Merge with immediate effect. The voting indicates the community agrees to pause Ethereum (ETH) borrowing to mitigate high ETH borrowing risks on Aave amid the Merge and Ethereum hard fork.



gaming developments

  • Gaming activity accounted for over 50% of blockchain activity in August, registering hundreds of millions of transactions;

  • Axie Infinity NFT sales volumes dip below $10 million for four consecutive months, sees declining unique buyers as well as average sale values;

  • Sky Mavis is preparing for the largest ever Axie community gathering in the first ever AxieCon held in Barcelona.


metaverses & Adoption


defi


funding rounds

  • Proof, an NFT collective, raised a $50 million Series A round this week, led by a16z, with participation from Seven Seven Six, True Ventures, Collab+Currency, Flamingo DAO, SV Angel and VaynerFund;

  • Limit Break, a web3 gaming company, completed its $200 million funding round led by uckley Ventures, Standard Crypto, and Paradigm Ventures, with other investors including FTX, Coinbase Ventures, Anthos Capital, SV Angel, and Shervin Pishevar;

  • Xterio, a web3 game publisher and developer, raises $40 million in a round led by FunPlus, Makers Fund, FTX Ventures, and XPLA. Other participants included HashKey, Foresight Ventures, Infinity Ventures Crypto, Matrix Partners and Animoca Brands.

 



Subscribe to Weekly Essentials



Recent Posts

See All

Edition #42 - 13 NOV 2022 Sam Bankman-Fried’s cryptocurrency exchange FTX has filed for Chapter 11 bankruptcy protection in the U.S., according to a company statement posted on Twitter, followed by r

Edition #41 - 04 NOV 2022 In the largest jump in 33 years, England is trying to bring soaring inflation under control by dramatically increasing the cost of borrowing money. The Bank of England’s ban