Crypto Morning News: Binance Launchpool lists Catizen (CATI); Li Lin's family office establishes a $500 million crypto quant master fund

Author: TechFlow

Market Developments Yesterday

On-chain RWA market cap surpasses $12 billion, hitting new all-time high

According to a report released Friday by Binance Research, the total market capitalization of tokenized real-world assets (RWA) on-chain has surpassed $12 billion, reaching an all-time high.

Among them, the market cap of tokenized government bond funds (digital tokens representing U.S. Treasuries) has exceeded $2.2 billion, with BlackRock’s BUILD nearing $520 million and Franklin Templeton’s FBOXX at $434 million.

Binance Launchpool to list Catizen (CATI) on September 16

Binance will launch its 59th Launchpool project, Catizen (CATI), a cat-themed gaming bot built on the Telegram mini-app platform. Users can begin earning CATI airdrop rewards by staking BNB and FDUSD starting from 00:00 UTC on September 16, 2024, for a duration of four days. CATI will be listed on Binance on September 20, 2024, at 10:00 UTC, supporting trading pairs CATI/USDT, CATI/BNB, CATI/FDUSD, and CATI/TRY. The total supply of CATI is one billion tokens, with an initial circulating supply of 305 million.

Upbit to list Nervos (CKB)

According to official announcement, Upbit will list Nervos (CKB) on September 13 at 16:00 Beijing time, supporting KRW, BTC, and USDT trading pairs.

Binance reveals Hamster Kombat tokenomics: 75% of supply allocated to Season 1 and 2 player rewards

Binance has unveiled the tokenomics for Hamster Kombat, a TON-based gaming project. The HMSTR token has a total supply of 100 billion, with an initial circulating supply of 64.375 billion at listing. Of the total supply, 60% will be allocated to Season 1 player rewards, 15% to Season 2 player rewards, 3% to Binance Launchpool, 4% for liquidity, 8% to the team, 4% for marketing, and 6% for partnerships and grants.

Renewable energy company Fuse announces $12 million strategic funding round led by Multicoin Capital

According to CoinDesk, renewable energy company Fuse has announced a $12 million strategic funding round led by Multicoin Capital. This brings Fuse’s total funding to $90 million. The company plans to use the funds to launch Project Zero, a decentralized physical infrastructure network (DePIN) initiative focused on renewable energy. Project Zero will use token incentives to encourage participants to generate renewable power, shift electricity demand to renewable periods, support electric transportation, and install more distributed energy resources.

As an integrated energy provider, Fuse offers distributed energy resource (DER) installation, electricity trading, and retail services. Currently, the company manages 18 megawatts of installed capacity, with an additional 300 megawatts of renewable projects under development. Its subsidiary, Fuse Energy, is a vertically integrated electricity retailer.

Huobi founder Li Lin's family office Avenir Group launches $500 million crypto quant master fund

According to TechFlow, on September 12, Avenir Group, the family office of Huobi founder Li Lin, launched a crypto quantitative master fund named Avenir Crypto, with the first phase amounting to $500 million.

Pendle co-founder: Expanding into BTC yield strategies and restaking, estimates potential TVL growth of $10 billion

TN Lee, co-founder of Pendle Finance, said in an interview that Pendle is actively advancing two major initiatives—restaking and Bitcoin yield strategies—and if successfully implemented, these could bring at least $10 billion in additional total value locked (TVL) to the protocol.

TN emphasized that given Bitcoin is the largest asset in the cryptocurrency market, even capturing 1% of its market share would deliver significant value to Pendle. He further explained that with the emergence of multiple L1 and L2 solutions, increasing numbers of users are seeking ways to earn yield on idle Bitcoin. Based on Bitcoin’s current market cap of approximately $1 trillion, 1% market share would equate to $10 billion in TVL.

OpenAI in talks with UAE investment fund for new $7 billion funding round, post-money valuation could reach $150 billion

According to The Information, AI company OpenAI is in discussions with UAE investment fund MGX and other institutions to raise up to $7 billion in a new funding round. Upon completion, OpenAI’s valuation could reach $150 billion. In addition to MGX, existing investors such as Microsoft and Thrive Capital are also expected to participate. Notably, due to potential ties between Middle Eastern investors and China and Russia, this financing may face scrutiny from U.S. regulators. OpenAI is growing rapidly but also burning through cash at a high rate; this funding round aims to support ongoing development and employee stock buybacks.

Treasure DAO proposes migration from Arbitrum to ZKsync

On September 13, according to The Block, Treasure DAO recently published a proposal to migrate its Web3 gaming ecosystem from Arbitrum to ZKsync. The proposal states that ZKsync is better “suited” to meet Treasure’s long-term plans for decentralized gaming. Voting is scheduled to begin on September 17. If approved, Treasure’s testnet will move from Arbitrum to a new testnet built on ZK Stack before mainnet launch. Holders of Treasure’s native token MAGIC will vote on the migration plan.

DeFi lending platform Sky initiates vote on full divestment of WBTC within ecosystem

On September 13, according to CoinDesk, DeFi lending platform Sky (formerly MakerDAO) will hold a vote on fully divesting Wrapped Bitcoin (WBTC) from its ecosystem. If passed, the proposal could impact around $200 million worth of DeFi loans within the Sky ecosystem. WBTC, a token enabling Bitcoin usage across other blockchains with a $9 billion market cap, plays a critical role in DeFi lending.

Market Data

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