olympus

ChainCatcher news, according to The Block, former FTX user Alexander Nikolas Gierczyk has filed a lawsuit in the U.S. District Court for the Southern District of New York, accusing the hedge fund Olympus Peak of violating an agreement regarding additional bankruptcy claim proceeds. It is reported that Gierczyk transferred his bankruptcy claim worth $1.59 million to Olympus Peak at a 58% discount in November 2023.Recently, U.S. Bankruptcy Court Judge John Dorsey in Delaware approved the FTX asset restructuring plan. The plan is expected to repay FTX creditors between 129% and 146% of the claim value at the time of the bankruptcy filing in fiat currency. According to the lawsuit documents, based on this repayment ratio, Olympus Peak is expected to profit between $1.1 million and $1.4 million from Gierczyk's claim.The lawsuit documents indicate that although Gierczyk transferred the claim at a discount, the agreement with Olympus Peak included an "excess claim clause." This clause was originally intended to allow Gierczyk to receive additional compensation in the same proportion if the bankruptcy distribution exceeded expectations. However, the plaintiff's attorney stated that Olympus Peak has explicitly indicated it will not fulfill its obligations under this clause.

ChainCatcher news, Movement announced the results of the hackathon Battle of Olympus, during which a total of 2,100 project applications were received, with 85 reaching the finals, and ultimately 10 projects winning.Winners will receive multiple supports from Movement Labs, including grants of up to $100,000 from the Movement Foundation, exclusive access to Move Collective, referrals to Movement's venture capital network, ongoing technical support, resources and expert guidance, and eligibility for the MoveDrop program.Winning projects:Titan Track (Existing Projects)StakedMove: The preferred liquid staking token for Movement, enhancing network security and user yield opportunities;DeFi TrackGasyard: Cross-network gas optimization protocol that simplifies DeFi transactions and improves user experience;PicWe: Full-chain liquidity infrastructure that facilitates seamless asset transfers across the entire Movement ecosystem;AI TrackRNDM: AI-driven modular liquidity solution aimed at transforming automated market making in DeFi;SocialFi TrackPodium: A Web3 social audio platform that supports community-hosted discussions, connecting social media and blockchain;Movewiffrens (MWFs): A decentralized social media platform that reconstructs online interactions through blockchain-based identity and content ownership;NFT/GameFi TrackSeekers Alliance: A skill-based trading card game with an innovative NFT mechanism, showcasing advanced smart contract capabilities on Movement;Simemes: A meme-driven social gaming platform that combines internet culture with blockchain gaming;InfrastructureMovide: An advanced online IDE for Move, accelerating development on the Movement network;Scaffold Move: A comprehensive toolkit for building DApps, lowering the entry barrier for Movement ecosystem developers.

ChainCatcher news, FTX customer Nikolas Gierczyk has sued the hedge fund Olympus Peak, accusing the fund of purchasing his debt and earning over $1 million from the transaction without paying him the full amount of the proceeds.Gierczyk stated that Olympus Peak owes him a larger payment because he sold $1.59 million in debt to the hedge fund at a "significant discount of 42%" last year, while FTX received approval for a bankruptcy restructuring plan this year, which is expected to return 129% to 146% of the debt value to customers.Gierczyk pointed out in the lawsuit that he explicitly stated his right to additional compensation in the agreement with Olympus Peak, but the fund refused to honor that right.

ChainCatcher news, the Dfinity Foundation, a major contributor to the Internet Computer blockchain, will invest $15 million in the Olympus accelerator platform. It is reported that by the end of this year, Olympus will transform into a decentralized autonomous organization (DAO). This funding will be used to support the development and maintenance of the Olympus platform and to fund the first few batches of accelerators.

ChainCatcher message, the blockchain technology application platform IOST has launched the mainnet Olympus v3.11.4 version. Native transfer transactions in the transaction pool will take precedence over JavaScript contract transactions to enhance the stability of nodes in scenarios with high inscription transaction volumes. Additionally, a filter will be implemented for transactions sent by bots.

ChainCatcher news, the blockchain technology application platform IOST announced the launch of the mainnet Olympus v3.10.1. This upgrade is an incompatible upgrade, and all block-producing nodes must complete the upgrade by September 10. Non-block-producing nodes are also recommended to upgrade.It is reported that this version mainly enhances the libp2p module by introducing yamux support and mplex. In the next version, IOST will remove plex support.

ChainCatcher news, according to the official Olympus DAO website, Olympus DAO has officially integrated with the OKX Web3 wallet. Users can connect the OKX Web3 wallet plugin to provide liquidity, stake stablecoins, and trade on Olympus DAO. Olympus is a decentralized reserve currency protocol based on the OHM token, with each OHM token backed by a basket of assets stored in the Olympus treasury.It is understood that the OKX Web3 wallet supports over 60 public chains, with a unified app, plugin, and web interface covering five major areas: wallet, DEX, earning coins, NFT marketplace, and DApp exploration. It also supports features such as the Ordinals marketplace, creating MPC wallets, exchanging gas, iCloud/Google Drive backup for mnemonic phrases, custom networks, and connecting hardware wallets. In addition, the OKX Web3 wallet will soon support AA account abstraction.

ChainCatcher message, the algorithmic stablecoin protocol Olympus community has voted through the OIP-137 proposal to purchase more ETH to support the OHM token. This OIP establishes a new framework for its DAO finances, including gradually adjusting the treasury asset allocation to 75% stablecoins and 25% directional exposure, currently consisting of approximately 79% stable assets and 21% volatile assets. This move is expected to reduce the stablecoin exposure by about 25 million dollars. (Source link)

ChainCatcher news, the DeFi protocol OlympusDAO plans to deploy 77 million DAI to DSR (DAI Savings Rate) through the TAP-18 proposal. The proposal states that due to the recent income earned by MakerDAO through real-world asset activities, it has raised the DSR to 1%; OlympusDAO, as one of the largest holders of DAI, should take advantage of the new savings rate to increase income. (Source link)

ChainCatcher news, according to PeckShield monitoring, the OlympusDAO hacker has returned the stolen funds to the DAO. PeckShield clarified that while the vulnerability is real, it is not the OlympusDAO contract; the affected contract was written by Bond Protocol to test the launch of OHM bonds.Previously, according to PeckShield monitoring, the redeem() function in OlympusDAO's BondFixedExpiryTeller contract caused a loss of approximately $292,000 due to improper input validation. (Source link)

Chain Catcher news, the bond market protocol Bond Protocol has completed a $2.5 million seed round financing, led by Chapter One Ventures and IDEO CoLab Ventures, with participation from Alchemy Ventures, Hypersphere, and others. Previously, on October 4, Bond Protocol also released its Beta version.It is reported that in July this year, the proposal to split the bond market Olympus Pro and rename it to Bond Protocol was approved by the governance vote of the algorithmic stablecoin protocol OlympusDAO. Olympus will use Bond Protocol for bond protocol operations, and Bond Protocol will feature a permissionless market, composable bonds (tokenized), and a modular auction interface, among other functionalities. (source link)