Cryptoday 1.07 | Decentralized dead man's switch application Sarcophagus raises $5.47 million in token financing
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Cryptoday 1.07 | Decentralized dead man's switch application Sarcophagus raises $5.47 million in token financing
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Funding Movements
Decentralized Dead Man's Switch Application Sarcophagus Raises $5.47 Million in Token Financing
The decentralized dead man's switch application Sarcophagus has raised $5.47 million by selling DAO tokens to venture capital firms, including Greenfield One, LD Capital, Blockchain.com Ventures, Arweave, and several angel investors. In its announcement, Sarcophagus stated, “Investors are required to work directly with the DAO, and have voted on their respective investor agreements and token release schedules. The best part is that all of this has already been recorded on-chain and will always remain publicly accessible.” Sarcophagus is a decentralized dead man’s switch application built on Ethereum and Arweave, allowing users to upload files and designate private key recipients. In November and December last year, Sarcophagus previously completed funding rounds of $1.8 million and $3.67 million respectively.
Banksea Finance Announces Strategic Funding Round Raising Millions of Dollars
Banksea Finance, an AI-powered NFT Oracle and NFT pool-based lending project, announced it has raised millions of dollars in strategic funding. This round was participated in by over a dozen investment institutions including Petrock Capital, Parrot, MEXC Global, Springwind Ventures, RioDefi, Solar Eco Fund, Digital Renaissance, Zonff Partners, Definitive Finance, Digital Assets, Investment Solutions AG, GTA Venture, INV Ventures, CatcherVC, Palar Capital, and XT LABS. Banksea Finance provides AI-driven oracle pricing for NFTs and operates as an NFT-collateralized lending platform, aiming to deliver real-time, objective valuations for NFTs to enhance liquidity and unlock their full financial potential. The Banksea NFT AI Oracle is scheduled to launch on Solana's testnet by the end of January 2022, supporting real-time pricing for NFTs within the Solana ecosystem, with plans to expand support to additional ecosystems in the future. Additionally, Banksea will launch a limited-edition Genesis NFT called CitizenOne for community sale on January 15, followed by a public sale on January 20.
DeFi
Polkadot Lending Protocol Amara Finance Announces Upcoming IDO on January 17
Amara Finance, a lending protocol on Polkadot, announced it will conduct an IDO on Solarbeam on January 17, aiming to raise $300,000 at a MARA token price of $0.50. Amara Finance aims to become a leading lending protocol within the Polkadot ecosystem, enabling users to earn platform revenues and boost lending and mining rewards through holding MARA tokens.
NFT/GameFi
Edison Chen and Jay Chou May Collaborate on a Joint NFT Project Before Year-End
Fashion artist Edison Chen mentioned in a community discussion that he frequently communicates with Jay Chou about collaboration opportunities, and they are likely to launch some joint NFT projects before the end of the year. Previously, the NFT project The Heart Project announced on social media on January 9 that its collaborative project with Edison Chen would be released on February 1, with holders of The Heart Project NFTs receiving priority access.
Others
Binance to Support BitTorrent (BTT) Token Swap
According to official announcements, Binance will soon support the BTT token swap, implementing a 1:1000 split and conversion plan. All legacy BTT tokens held by Binance users will be converted into new BTT tokens, which will be renamed "BTTC", distributed at a conversion rate of 1 old BTT = 1,000 BTTC. After the token swap, the original BTT tokens will be renamed BTTOLD, while the new tokens will be designated under the ticker "BTTC". BitTorrent Chain is the industry's first heterogeneous cross-chain interoperability scaling protocol, utilizing a Proof-of-Stake (PoS) consensus mechanism and extending smart contract functionality via sidechains. It initially supports cross-chain operations between Ethereum, TRON, and BSC, with plans to gradually add support for more public blockchains in the future.
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