Japanese porn star's coin purple flags, Alibaba-linked L2 runs at 100K TPS: Asia Categorical

Not everybody’s welcome to purchase JAV porn star’s controversial memecoin

Japanese porn star and pop singer Yua Mikami has launched a brand new memecoin undertaking on Solana, elevating greater than $2.9 million (over 19,000 SOL) in its presale on the time of writing, regardless of mounting issues over its administration.

The presale was introduced on Mikami’s X account, which boasts 8.2 million followers. She didn’t promote the undertaking on her different main social platforms, TikTok and Instagram, that are adopted by 4.5 million and three.7 million accounts, respectively.

Blockchain analyst EmberCN raised a number of purple flags. The presale doesn’t have a set alternate charge or fundraising cap, that means traders obtain a share of the 20% token allocation based mostly on how a lot is raised. EmberCN additionally noticed that some members despatched SOL immediately from centralized exchanges, regardless of specific warnings not to take action. For the reason that undertaking additionally lacks a refund mechanism, these customers could lose their funds.

Whereas the undertaking’s disclaimer states that Japanese traders aren’t allowed to take part, no technical restrictions have been carried out to forestall them from doing so. Researcher AB Kuai.Dong claimed that the rights to Mikami’s memecoin undertaking have been acquired by Chinese language entities, and that the undertaking is being marketed particularly to Chinese language traders.

This comes amid rising skepticism round celebrity-endorsed memecoins, notably on Solana, which has been affected by scams in current months. In March, a now-banned X account accused an unnamed Shenzhen movie star memecoin manufacturing unit in China of operating coordinated pump-and-dump schemes. Some customers have speculated (with out affirmation) that Mikami’s token could also be linked to the identical community.

Nevertheless, some crypto merchants welcomed the undertaking, with one calling it an indication that “otaku tradition” has formally come to crypto. Regardless of the passion, this isn’t Mikami’s first blockchain rodeo. She and different Japanese grownup movie stars beforehand launched non-fungible token initiatives throughout the 2021 NFT increase.

Ant Digital launches Jovay layer-2 to hitch Ethereum’s real-world belongings social gathering

Ant Digital Applied sciences, a subsidiary of Alibaba’s fintech arm Ant Group, unveiled a brand new Ethereum layer-2 community referred to as Jovay on April 30 to compete within the rising race to tokenize real-world belongings (RWAs).

Ant Digital stated its new layer-2 community is able to dealing with 100,000 transactions per second with a 100-millisecond response time. It kinds a part of Ant’s broader “Twin Chains and One Bridge” technique, alongside its AntChain asset layer and cross-chain bridge infrastructure.

“Jovay is at the moment working as a layer-2 resolution on Ethereum, emphasizing efficiency and safety as core pillars of our platform,” Cobe Zhang, head of Jovay, instructed Journal. 

“Trying in direction of the long run, we’re enthusiastic about broadening our horizons by integrations with completely different layer-1 networks to raise our scalability even additional.”

Zhang says the Jovay crew is aiming to launch the mainnet within the third quarter of 2025.

Ant Digital’s layer-2 announcement comes amidst a strategic growth. It just lately arrange a worldwide headquarters in Hong Kong and is utilizing Dubai as its Center East base. Each areas are quick changing into hubs for digital asset regulation.

Only a week earlier than the revealing of its layer-2 undertaking, the corporate additionally launched its new sensible contract infrastructure, the AI-powered DeTerministic Digital Machine (DTVM) Stack, which makes use of massive language fashions to automate and speed up improvement.

At the moment, Ethereum leads adoption within the RWA area, accounting for the overwhelming majority of tokenized US Treasuries and institutional asset flows.

Anticipate extra promoting strain from South Korea in June

South Korea’s Monetary Providers Fee (FSC) has reportedly finalized a brand new set of pointers that may permit nonprofit companies and registered cryptocurrency exchanges to legally promote digital belongings beginning in June.

The transfer is a part of a broader effort to regularly open the nation’s digital asset market to institutional traders, previously constrained by native rules.

Underneath the brand new pointers, nonprofit companies with over 5 years of working historical past and topic to exterior audits shall be permitted to simply accept and promote cryptocurrency donations. These organizations should set up inside donation evaluate committees to evaluate the legitimacy of incoming funds and consider liquidation plans upfront. Solely crypto belongings listed on at the very least three of the 5 licensed fiat-to-crypto exchanges shall be eligible for donation.

Crypto exchanges may also be allowed to promote digital belongings, however underneath strict circumstances aimed toward stopping market disruption and conflicts of curiosity. Solely exchanges registered as Digital Asset Service Suppliers (VASPs) underneath native rules shall be eligible. Gross sales can solely be made to cowl operational bills and have to be restricted to the highest 20 cryptocurrencies by market capitalization. Further restrictions embody a every day gross sales cap and a prohibition on promoting tokens immediately by the alternate’s personal platform.

The FSC additionally launched new itemizing requirements to deal with the acute worth volatility usually seen when tokens debut on home exchanges. So-called “itemizing pumps” have drawn regulatory scrutiny on account of speedy worth surges brought on by restricted preliminary circulating provide. As a response, token issuers will now be required to safe a minimal circulating provide earlier than buying and selling begins, and market orders could also be restricted throughout early buying and selling phases.

Sky Mavis’ messy divorce with Ragnarok Monster World

A public rift has emerged between Singapore-based Vietnamese startup Sky Mavis, the developer behind the Ronin blockchain, and Ragnarok Monster World, after the corporate accused the Web3 sport’s creators of secretly chopping a take care of a rival blockchain.

In an April 27 X put up, Sky Mavis co-founder Aleksander Larsen stated the crew behind RMW, generally known as 0x&, ignored recommendation and “misplaced favor with the neighborhood.” Because of this, the corporate introduced it could finish its skilled ties, take away the sport’s belongings from Sky Mavis merchandise inside 48 hours and delist RMW NFTs from the Ronin Market. The corporate additionally distanced itself from the sport’s upcoming $ZENY token launch, stating that its presence on Ronin shouldn’t be interpreted as endorsement or affiliation. 

In a follow-up put up, Larsen stated that as an alternative of eradicating NFTs completely, Sky Mavis would revoke the sport’s verification badge on the Ronin Market, marking its unaffiliated standing going ahead.

The transfer prompted a right away rebuttal from Ragnarok Monster World. It denied participating in secret agreements and stated that each one discussions with different blockchain networks had been shared with Sky Mavis. The builders additional said they’d honored all contractual obligations and dedicated to proceed working the sport on Ronin.

The general public spat highlights a core irony in Web3 video games. One of many area’s founding guarantees is that blockchain video games are supposed to be proof against bans and shutdowns. Ronin is transferring towards that imaginative and prescient with a permissionless structure that lets anybody deploy sensible contracts or launch video games with out Sky Mavis’ approval. Nevertheless, the ecosystem nonetheless revolves round Sky Mavis’ platform energy. Tasks could also be technically permissionless, however with out market verification or ecosystem help, they danger shedding publicity to the Ronin neighborhood. RMW nonetheless exists on-chain, however is stripped of the community’s stamp of approval.

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Yohan Yun

Yohan Yun is a multimedia journalist masking blockchain since 2017. He has contributed to crypto media outlet Forkast as an editor and has coated Asian tech tales as an assistant reporter for Bloomberg BNA and Forbes. He spends his free time cooking, and experimenting with new recipes.