Stepn founders’ bright idea for its new NFT marketplace: compulsory royalties

Stepn developer Find Satoshi Lab is bucking the trend set by other NFT marketplaces with its own multi-chain offering called Mooar — with a zero-fee, compulsory royalty structure. 

Launched last November 1, the venture is the third project in the FSL ecosystem after the move-to-earn darling Stepn and its decentralized exchange product, Dooar. 

Mooar debuts with what the business calls a “unique membership model,” as it eschews platform fees in favor of an initial entry fee of $29.90 a month for unlimited NFT trades. For context, the fee is nearly double what you might currently pay for a standard Netflix subscription.

Crypto exchange Deribit loses $28 million in hack, halts withdrawals

Deribit, the largest bitcoin options exchange by market share, lost $28 million in a hack. The company also halted withdrawals.

“Deribit hot wallet compromised, but client funds are safe and loss is covered by company reserves,” Deribit tweeted. “Our hot wallet was hacked for USD 28m earlier this evening just before midnight UTC on 1 November 2022.”

The company said it is performing ongoing security checks and has halted withdrawals — including withdrawals from third-party custodians Copper, Clearloop and Cobo — until it is confident that the platform is safe to re-open.

Singapore leverages Polygon and Aave in first DeFi wholesale markets transaction

The Monetary Authority of Singapore (MAS) successfully completed a cross-currency transaction involving tokenized Japanese yen and Singapore dollar deposits as part of a pilot exploring the potential of DeFi applications in wholesale funding markets.

DBS Bank, JPMorgan and SBI Digital Asset Holdings participated in the foreign exchange and government bond transactions against liquidity pools comprised of tokenized yen, Singapore dollars and Singapore Government Securities Bonds, MAS said in a statement. 

Layer 2 solution Boba Network integrates with BNB Chain

Blockchain development firm Enya said it has released a Layer 2 scaling solution called Boba Network on BNB Chain, aiming to scale applications on the network. 

SushiSwap, one of the largest decentralized exchanges, will launch on the BNB Chain version of Boba Network as a launch partner.

Boba is an Optimistic Rollup, a scaling solution that leverages off-chain computation to make transactions cheaper and faster on any given blockchain.

Boba will be one of the first Layer 2 solutions to hit BNB Chain, which hosts more than $5.7 billion in crypto assets across tens of decentralized finance (DeFi) apps. 

ASICS and Solana Launch Custom Shoe with STEPN Airdrop

With the purchase of the brand new ASICS 2000 GT, customers automatically receive an ASICS Loyalty Badge NFT. Furthermore, the acquisition also grants collectors the chance to win a limited edition airdrop of the STEPN x ASICS GT 2000 NFTs. The shoe is a product of unique design, compatible with all abilities – and also comes in two aesthetics, namely “light mode” & “dark mode.”

Inspired by Solana and the information age, the overall design combines the energetic brand palette with the user interfaces (UI) of computer and mobile screens to symbolize a movement-influenced, positive symbiotic future with technology. The shoe also aims to exhibit a healthy balance between screen time and physical activity.