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Fogo Mainnet Performance Testing Project Fogo Fishing

2 hours ago

Dec 6 — SVM Layer1 blockchain project Fogo has announced the launch of its Ecosystem Points Program 1.5 and mainnet performance testing initiative **Fogo Fishing**. Fogo Fishing simulates high-frequency trading and on-chain throughput to stress-test the mainnet. The event will run for roughly two weeks, with several random snapshots taken during the period. Fogo plans to airdrop tokens to users who participate in Fogo Fishing activities and liquidity provider (LP) events on Valiant Pools. To date, Fogo Fishing has recorded a TPS (transactions per second) exceeding 1,000. Previously reported: On Jan 25, 2025, Fogo (an SVM Layer1 chain) closed an $8 million financing round on investment platform Echo, with a token valuation of $100 million. The Echonomist led the round, with other participants including 4 CMS Holdings, Big Brain Collective, and Patrons. In December 2024, Fogo completed a $5.5 million seed round, led by Distributed Global (which contributed $5 million). The project’s co-founder is Robert Sagurton, a former executive at Jump Crypto.
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Jupiter Lend's Reserve Questioned for "Incomplete Isolation," Fluid and Kamino Founders Speak Out

**December 7th** Jupiter Lend’s vault independence is facing intense scrutiny from the Solana community, after co-founders of two Solana protocols—Fluid and Kamino—called out the platform for misstating its "full isolation" claim. Samyak Jain, co-founder of Solana lending protocol Fluid, confirmed Jupiter Lend’s vaults use rehypothecation to boost capital efficiency, noting assets in the vaults are "not completely isolated" from one another. Marius, co-founder of Solana liquidity protocol Kamino, added: *This week, Kamino banned the Jup Lend migration tool because users were misled and unaware of the protocol’s design and risks. Jupiter Lend has repeatedly claimed assets have no interrelation, and that "users won’t be affected if assets in different vaults face adverse events"—a claim that is completely unfounded. For example, if a user supplies SOL and borrows USDC, their SOL is lent to recursive borrowers (including JupSOL, INF, etc.). Users bear all risks of this recursive n

15 minutes ago

This week the US Ethereum spot ETF saw a net outflow of $65.4 million

As of December 6th, Farside Investors reported that U.S. Ethereum spot ETFs recorded a net outflow of $65.4 million this week. Among the funds, Grayscale’s ETHA saw a net outflow of $55.8 million, while its ETHE had a net outflow of $53.2 million.

15 minutes ago

MiniDoge Exhibits at Art Basel, Linking the Global Art and Crypto Ecosystem Collaboration

Dec 6 — Web3 ecosystem project MiniDoge unveiled its curated NFT artwork at Art Basel Miami Beach (Dec 5–7) in Miami, USA, as part of its effort to explore cross-border integration between Web3 and contemporary art. This year’s Art Basel has drawn 283 top galleries from 43 countries and regions, with over 80,000 global art collectors, venture capital firms, and crypto industry leaders expected to attend. As a global hub for Web3, AI, and art, Miami has turned the fair into a key cross-disciplinary platform. MiniDoge’s showcased NFT centers on a fusion of Meme culture, DeFi utility, and on-chain creativity.

15 minutes ago

This week, the US Bitcoin Spot ETF saw a net outflow of $87.7 million

On December 6, Farside Investors data shows U.S. Bitcoin spot ETFs posted a net outflow of $87.7 million this week. Notably, BlackRock’s BITE recorded a net outflow of $49.1 million, while the ARK Bitcoin ETF (ARKB) saw a net outflow of $77.8 million.

15 minutes ago

Bitcoin Surpasses $90,000, 24-hour Loss Narrows to 0.55%

On December 6th, per HTX market data, Bitcoin topped $90,000, while its 24-hour decline narrowed to 0.55%.

15 minutes ago

Bitget has launched the U-based POWER perpetual contract, with leverage ranging from 1 to 20x.

On December 6, Bitget announced via an official statement the launch of its U-Index-powered POWER perpetual contract, which offers leverage ranging from 1x to 20x. The platform will also roll out its contract trading BOT simultaneously.

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