Crypto && Coffee 084
- 6 minsTechnology Recap:
Bitcoin:
- On July 3rd, 2021, we witnessed Bitcoin’s difficulty adjustment go down by 27.94%. Review this thread on the importance of what “difficulty” is in Bitcoin and what the adjustment means.
Litecoin:
- David Burkett releases the June progress update on MWEB including performance improvements, improved test coverage, and updated documentation.
- David Burkett launches Testnet5 for Litecoin’s Mimblewimble Extension Blocks (MWEB).
Ethereum:
- The block for the next Ethereum mainnet upgrade, London has been decided and will take place at block 12965000 on August 4th, 2021!
- ConsenSys releases Teku v21.6.1! This release introduces a few breaking changes regarding deprecation of some events and REST API endpoints. It also includes new Altair REST APIs.
- A new document has been released sharing an intro to the core concepts of EIP-1559 with the upcoming London upgrade only a month away.
- Ben Edgington shares what’s new in ETH2.0 with updates on the Beacon Chain, research, The Merge, and more!
- Ethereum Foundation shares their allocation update for Q1 of 2021.
Other Chains:
- Balancer Protocol has expanded to layer-2 solution, Polygon. Following the expansion of Balancer from Ethereum to Polygon, a vote was approved to include joint incentives on the network. The following incentives were approved on June 28th, 2021: 25K BAL per week from Balancer, 375K MATIC per week from Polygon, and 30K Qi per week has also been committed by the Qi DAO per pool for the two pools of which they are part of.
- Kyber Network’s Rainmaker Liquidity Mining is in full swing! In less than 24hr after launch, Kyber DMM TVL has risen 15x to $200M, with $21B in amplified liquidity.
- 1inch Network collaborates with ICHI, a protocol for creating the world’s first Decentralized Monetary Authorities (DMAs), in launching a new in-house stablecoin for the 1inch community, one1INCH. The stablecoin aims to provide a reliable form of payment for DeFi transactions and offer better incentives.
- zkSync announces that on July 14th, 2021 at 11am UTC, they will be upgrading their contracts and servers to support zkSync 1.x! Mainnet will be down for 2-3 hours.
- On June 25th, 2021, a technical proposal to enable automated market makers (AMMs) in Stellar Protocol 18 was officially deemed ready for implementation.
- Perpetual Protocol introduces Curie, their V2 protocol that will launch on Arbitrum and leverage Uniswap V3 as the execution layer for providing perpetual swaps with highly efficient concentrated liquidity.
- Aztec partners with Ren to add renBTC into the Aztec private rollup. The Aztec private rollup, which is accessible via zk.money, enables fully private transactions on Ethereum. Integrating renBTC enables users to privately send, receive, and hold BTC on Ethereum.
- Loopring shares their quarterly update including information on the Loopring wallet, V2 improvements, upcoming collaborations, liquidity mining, and more!
- SX Network becomes the first project to launch a stand-alone blockchain using the Polygon SDK. SX Network will be the first blockchain to combine smart contracts with an on-chain treasury and a prediction market protocol.
- The Hermez Mobile wallet is now live for both iOS and Android!
- Ren launched the first BTC stable pool on Solana in partnership with Saber.
- BarnBridge has integrated Chainlink Keepers live on Ethereum mainnet. BarnBridge will leverage Chainlink Keepers in SMART Exposure, their upcoming product.
- Lyra is now live on the Optimism Kovan testnet. This provides the opportunity for the community to be involved in shaping the trading experience and test the usability of Lyra’s Dapp on Optimism.
- CowSwap shares that they launched the ParaSwap solver last week which is unveiling a nice side-effect USP for CowSwap - becoming a meta Dex Aggregator. Users’ trades are also being facilitated across 1inch and ParaSwap, with Matcha arriving soon.
- Degen’$ Farm announces that they have integrated Chainlink Price Feeds on mainnet to activate the main feature of their game - dynamic NFT farming.
- Kalata has deployed Chainlink Price Feeds on Binance Smart Chain (BSC) as the default oracle solution for all markets in their synthetic asset trading protocol.
- The long-awaited BeamX is now here! BeamX is a smart contract enabled DeFi layer built on top of the Beam blockchain. BeamX brings an all-new privacy-by-default and maximum confidentiality DeFi ecosystem to life, powered by the BEAMX token and governed by the BeamX DAO.
- O3 Swap cross-chain pool and aggregation protocols will soon be deployed on the Polygon blockchain. O3 Swap is the first cross-chain aggregation protocol that achieves cross-chain transactions of native assets by deploying aggregators on main DEXes of different chains and establishing the cross-chain pool.
- Element Finance shares that they will be adding a new 45-day crvTriCrypto term on Tuesday, July 6th, 2021.
- 1inch Network routing now includes Swapr!
- Chorus One releases their monthly updates highlighting their participation with Zero Knowledge Validator (ZKV) and various network updates across Injective, Helium, Osmosis and more.
- Maven 11 Capital announces that it will become the second pool delegate on the Maple Finance platform.
- MDEX is now live on ParaSwap!
- Archer DAO announces their partnership with SushiSwap. SushiSwap has integrated ARCHER MEV shield as an option for all users.
- PayTrie, Canada’s premier stablecoin gateway, now supports Polygon!
Mainstream Recap:
- Jack Mallers of Strike announces the Bitcoin Tab and the ability to buy bitcoin on Strike with no fee outside of the market spread.
- Thailand’s Securities and Exchange Commission (SEC) filed a criminal complaint against Binance for operating a digital asset business without a license.
- The Cayman Islands joins in on scrutinizing Binance and its business dealings.
- CoinDesk reports that on Monday, July 5th, 2021 U.K. based Barclays started blocking customers from using their debit and credit cards to make payments to Binance.
- CoinDesk reports that blockchain platform Enjin has sold $20M in EFI tokens through a public sale held on June 24th, 2021. There were 40,089 participants in the sale who purchased the tokens in 2 ½ hours.
- Kraken announces the availability of Solana trading and staking for residents of the USA, Canada and Australia.
- Japan-based SBI Holdings thinks NFTs could be a good opportunity for XRP.
- South Africa is accelerating its push to regulate crypto assets, aiming to have a regulatory structure in place in three to six months.
- Bitfinex halted trading on July 1st, 2021 due to a platform outage. The time from the initial investigation and the issue being resolved lasted 2 hours.
- The Economic Times shares that India’s department of indirect taxes is looking into whether overseas cryptocurrency exchanges are required to pay GST in India as they provide certain “data” services.
- EY said last week that it is open-sourcing the prototype code for Nightfall 3, a layer-2 protocol focused on Ethereum scaling which utilizes ZKP.
- Coinbase shares their thoughts and plans on establishing a hub for Coinbase in India.
This Week’s Cup of Coffee:
This week, we are headed back down to SoCal for a cup of Daybreak Blend from Steady State Roasting in Carlsbad, CA. This dark roast blend yields flavors of chocolate, caramel, and a hint of plum, with a nice balance of it all. Enjoy!!
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