The DeFi derivatives project Tracer DAO will transition to Mycelium and launch perpetual swap products on Arbitrum

[DeFi derivatives project Tracer DAO will transition to Mycelium and will launch perpetual swap products on Arbitrum] On August 11, the decentralized derivatives project Tracer DAO stated that the key proposal for the transition from Tracer DAO to Mycelium has been completed. As agreed by the DAO, the first product, Mycelium Perpetual Swaps, will be launched on Arbitrum this month. Additionally, all existing TCR holders have the right to change their tokens to new MYC tokens at a 1:1 ratio.

Tracer DAO stated that Mycelium Perpetual Swaps will coexist with crude oil Perpetual Pools (perpetual fund pools). Since 2019, Mycelium has been providing data through Mycelium Node and building derivatives infrastructure on the blockchain. On February 10, 2021, Tracer DAO accepted Mycelium's proposal to become a core service provider and contributor to the DAO.

Other news:

Multiple DeFi agreements claim that the whereabouts of the funds deposited on the Three Arrows Capital OTC platform are unknown: According to news on June 18, a DeFi agreement supported by Three Arrows Capital claimed that the fund controls most of its Treasury funds, and the whereabouts of these funds are currently unknown. The protocol’s founders said they have not received any information from the Three Arrows Capital co-founders or the TPS Capital team since June 10.

It is reported that the agreement will complete a US$3.5 million seed round of financing by the end of 2021, led by Three Arrows Capital. As part of this funding round, the protocol received stablecoins USDC and USDT. The company can actively manage these tokens by lending and lending on a decentralized market, or choose to place all or some of its tokens on TPS Capital, an OTC platform owned by Three Arrows Capital.

Three Arrows Capital claims to guarantee an 8% annual rate of return on its Treasury management services. The founder of the DeFi protocol said that due to the high yield, many protocols that received investment from Three Arrows Capital decided to use its services to deposit financing funds and part of their Treasury funds. The founder said the protocol is considering legal action and has approached two other protocols facing similar situations.

Another agreement backed by Three Arrows confirmed to Blockworks that Three Arrows had asked to manage its Treasury funds, but the agreement rejected the offer.

According to previous The Block reports, Three Arrows Capital OTC platform TPS Capital promoted GBTC-related arbitrage transactions to investors before the crisis broke out. (Blockworks) [2022/6/18 4:36:49]

KuCoin has launched ORN, the winning project for Defi voting at 18:00 on the 25th, and the increase has exceeded 300%. Protocol (ORN), and opened the ORN/USDT trading service, an increase of more than 300%, and the current price is 4.12USD. Orion Protocol is a liquidity aggregation platform that links multiple exchanges. It can be used as a general trading gateway to directly access various decentralized trading markets, liquidity pools and centralized trading platforms. KuCoin is a digital currency exchange that provides one-stop services such as currency, fiat currency, contract, mining pool, and lending for 5 million users from 207 countries. [2020/7/25]

Jianing Yu from Huobi University: Defi will bring about a new revolution in the financial industry: At 20:30 on July 21st, Jianing Yu, President of Huobi University, spoke in the live broadcast room of Huobi University with "the sweeping new Defi model" , how to grasp the opportunities of distributed finance?" is an online live broadcast lecture on the theme.

Yu Jianing said that the financial industry is an industry that has not changed for a long time. The restrictions of traditional institutions have greatly reduced the transparency of funds, and the ownership of property and the efficiency of use cannot be achieved at the same time. Defi will bring about a new revolution in the financial industry. From trust in people or companies in the past to trust in procedures. The characteristics of Defi are firstly intelligent, unmanned, and programmatic, and open source programs are inherently more reliable; secondly, combined assets can combine good assets to synthesize assets. In the era of open finance, everyone's mutual composition will become the norm. For details, click the original link. [2020/7/22]