Time.fun: A New Way of Social Token Combining Identity Status
Focusing on exploring social tokens, Time.fun, which is a specific product of NNA, centers on one concept: "Your time can be tokenized, your market value can be showcased, and even become the new generation of 'social capital'."
The platform operates by allowing creators to convert their time into tokens, and fans can purchase these tokens to obtain services such as private messages, group chats, voice or video calls. At this point, the "time" invested by creators becomes the intrinsic value standard of social tokens:
Time.fun is not just an application, but a concrete implementation of "identity economy" in the crypto world, which may become the standard for crypto social interactions in the future.
NNA: The Escape Velocity Engine of Consumer Crypto
NNA is changing our definition of assets and restructuring how retail investors participate in financial markets. From Pump.fun's meme coin gamified trading, to Believe's on-chain fundraising experiment, to Time.fun's time identity tokenization economy, all of this shows that:
Consumer cryptocurrencies are preparing to escape the gravity field of past speculative bubbles at an unprecedented speed, moving towards the next evolutionary stage driven by 'creativity', 'community', and 'native economic drivers'. NNA may be the fuel for this evolution.
Risk Warning
Cryptocurrency investment carries high risks, and prices may fluctuate dramatically. You may lose all your principal. Please carefully assess the risks.
Cetus, the main decentralized exchange (DEX) and liquidity provision protocol on the Sui blockchain, was hit by a severe vulnerability attack today (5/22), resulting in over $260 million in funds being stolen, shocking the entire crypto community.
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ToggleCetus Incident Overview: Attack Leads to 83% Fund Loss
According to the tracking report from blockchain data analysis platform Lookonchain, the Cetus protocol was attacked today, with losses exceeding $260 million.
The hacker quickly converted the stolen funds into USDC and transferred approximately $60 million USDC to Ethereum through a cross-chain bridge, then exchanged it for ETH. Lookonchain further updated that the hacker purchased 21,938 ETH with $58.3 million USDC, at an average price of $2,658. This attack nearly completely drained the liquidity pools of the Cetus protocol, causing many token prices to plummet in a short time.
From DeFi Llama data, it can be seen that Cetus lost 83% of its TVL in a single day. From its 24-hour fee earnings and trading volume, it was originally the top protocol in the Sui ecosystem, far larger than other protocols.
The Cetus protocol team subsequently released a statement on their official X account, saying they detected abnormalities in the protocol and urgently paused the smart contract to prevent further losses.
Cybersecurity expert Yu Xun stated that he has intervened to assist and believes cross-chain escape will not be easy.
Community Believes It's Not a Hacker Attack, But an Oracle Issue
Some in the Sui community believe this was not a traditional "hacker attack", but caused by a vulnerability in the protocol. Preliminary investigations suggest that this vulnerability may be related to the Oracle system, leading to abnormal withdrawals from liquidity pools.
Bybit and Binance Respond to Sui Incident
Cryptocurrency exchange Bybit released an announcement warning users about risks in the Sui ecosystem and stated they are closely monitoring developments. Bybit recommends users temporarily avoid trading on Sui and wait for further official clarification.
Binance founder CZ also expressed concern about the incident. He stated that Binance is doing its best to help the Sui team address this "unpleasant situation" and hopes all users can stay safe (Stay SAFU).
Risk Warning
Cryptocurrency investment carries high risks, and prices may fluctuate dramatically. You may lose all your principal. Please carefully assess the risks.
