EthHub Weekly #141

Umbrella Protocol introduced, Dex.ag rebrands to Slingshot, Truffle joins ConsenSys, Deriswap introduced and much more!


Curated by Anthony Sassano (@sassal0x) and Eric Conner (@econoar)


🚀 A Wild Week

Well, that was a crazy week, wasn’t it? ETH blasted through $500 which is a price it hasn’t seen since July 2018! Obviously, this got many Ethereans very excited and it certainly feels like the bull market is back on. I gave some more thoughts about ETH being at $500 on Bankless - watch that here. Eric was also on Bankless to give his thoughts on Ethereum community, culture, staking and more - watch that here.

Eric also put out a call to add a “max genesis date” for the eth2 phase 0 launch - check that out here - and I broke down his proposal in a piece here.

Lastly, I’m excited to announce that I’ve taken The Daily Gwei to the next level by launching a YouTube channel and Discord community. You can read the full details about all of that here.

Oh and don’t miss the latest eth2 AMA here.

Have a great week everyone!

Anthony


News of the Week

⚖️ Binance Says it Sued Forbes for Defamation

Crypto exchange Binance filed a defamation lawsuit last week against Forbes Media and two of its writers in the U.S. District Court of New Jersey.

The lawsuit is in response to a recent Forbes story, penned by the writers Michael del Castillo and Jason Brett, which claimed that Binance “conceived of an elaborate corporate structure designed to intentionally deceive regulators,” among other allegations.

In the suit, Binance, “organized under the laws of the Cayman Islands,” denied all claims. It said the contents of the story are "false, misleading and highly defamatory."

"Binance does not violate, and fully complies with, all applicable laws, rules and regulations in its operations," the lawsuit reads. "Binance does not seek to evade or 'side-step' any regulatory entities in any jurisdictions."

Binance alleges "millions of dollars" in losses due to the Forbes story. As a result, the exchange is seeking both compensatory and punitive damages in an amount to be proven at trial.

🤔 SEC Chairman Jay Clayton Stepping Down

Jay Clayton, chairman of the U.S. Securities and Exchange Commission (SEC), is stepping down from the agency at the end of this year.

Clayton's departure comes months ahead of his scheduled release in June 2021. Clayton was sworn in as the SEC chairman in May 2017 after being appointed by President Donald Trump. Now that Joe Biden has been elected as the new U.S. President, it remains to be seen who replaces Clayton.

The SEC also mentioned Clayton's enforcement efforts in the crypto space. In 2017, the initial coin offering (ICO) boom attracted the SEC's attention due to "substantial fraudulent activity" involved in these schemes. Under Clayton's chairmanship, the SEC said it acted "quickly and decisively to combat fraud and pave the way for innovation."

In the crypto community, Clayton is also known for his cautious stance on bitcoin exchange-traded funds (ETFs).


Project Updates

ESP Grantee Roundup: November 2020

This update provides updates on the projects that the ESP has funded and the recent milestones they have reached.

Introducing the Umbrella Protocol by Yam

The Umbrella Protocol features perpetual ERC20 streaming coverage, immutable coverage pools, and permissionless factory-based pool creation that allows for customization and iteration over time.

Truffle Joins ConsenSys

ConsenSys has acquired the team and technology of Truffle. Among the most widely used blockchain developer tools, the Truffle Suite is a development environment, testing framework, and asset pipeline all rolled into one. The terms of the acquisition were not disclosed.

Vector Now on Testnet

Vector is the next iteration of Connext which focuses hard on fixing on/offboarding from L2 chains. It’s now on testnet.

Introducing Deriswap

Deriswap combines Swaps, Options, and Loans into a capital efficient single contract, allowing interaction between the two assets that make up the pair.

Rotki v1.9.0 Released

This version includes a net worth graph on the dashboard, info on liabilities, support for Uniswap and support for eth2 staking.

Slingshot Announced

Slingshot is the new brand for Dex.ag and aims to help users find the best price for any given token trade on Ethereum. They announced that they raised $3.1 million from Framework Ventures, with additional participation from many others, including Electric Capital, IDEO CoLab, Coinbase Ventures, Winklevoss Capital, Digital Currency Group, Robot Ventures and more.

SmartDeFi Announced

SmartDeFi is an easy to use, non-custodial robo-investment app which fulfills the needs of traditional investors who want to make their first DeFi investments, but don’t understand the risks involved or how to take the first steps.

Cover Protocol Launched

Cover Protocol is officially launched. You can mint, redeem, and purchase coverages for the supported protocols on the app.

Clr.fund Round 0 Review

Clr.fund’s inaugural round 0 worked as expected, no news is good news. This small round represented a huge milestone for quadratic funding.

AirSwap Phase 2 Announced

In January, AirSwap enters its second phase with new governance, new tokenomics, a new treasury plan, refreshed website, core principles, and launch goals for the new year.

DeFi Saver Releases Ethereum Gas Price Extension

The extension shows you current gas prices at all times and provides a 7-day averages chart to figure out a good time for management of your positions

Idle Finance Raises $1.2 Million

The round was led by gumi Cryptos Capital, with participation from Quantstamp, BlockRock Capital and Long Hash, among others. With fresh capital at hand, Idle plans to scale its yield optimization protocol with new features.

88mph Launched

88mph lets you send your crypto assets at a fixed interest rate with infinite liquidity.

The Multichain Comes to RenVM

With this release, a new range of new assets and chains enter the world of interoperability including BTC, DOGE and FIL.

Nascent Introduced

Nascent is are a multi-strategy investment firm that pursues compelling opportunities in crypto, DeFi, and the open economies they enable.

Buidl Guidl Launched

Buidl Guidl is a forkable quadratic funding system for on-chain bounties.

DeFi Database Launched

DeFi Database is a community resource for tracking the DeFi projects ecosystem.


Interesting Tweets


Ecosystem Bits

Blog Posts

Videos

Podcasts

Misc


Meme of the Week


Looking for Work?

Top jobs listed on Cryptocurrency Jobs this week:


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EthHub Weekly #140

Lots of eth2 updates, Blocknative raises $5mil, Aave v2 now available on testnet, LiquidStake launched, yAcademy formerly proposed and much more!


Curated by Anthony Sassano (@sassal0x) and Eric Conner (@econoar)


😔 A Bump in the Road

The Ethereum network was put to the test again over this past week with the unfortunate inadvertent hard fork that was triggered on the network due to participants like Infura running an older version of the Geth client software. Now, it wasn’t Infura’s fault this happened (nor was it really anyone’s “fault”) but it did surface a few critical aspects of Ethereum core development that needed to be reviewed and improved upon.

Anyway, you can read my full recap here, the post mortem from the Geth team here, Jinglan’s thread about how the Optimism team were actually the ones responsible for triggering the hard fork, and lightclients thread on the technical details.

Have a great week everyone!

Anthony


News of the Week

⚖️ Binance Begins to Block U.S. Users

Crypto exchange Binance has begun blocking U.S. users from accessing its exchange platform, The Block has learned.

The move comes more than a year after Binance first announced in July 2019 that it would stop serving U.S. residents from September of that year.

Until now, the exchange was still effectively allowing U.S. users to access its platform. As The Block reported recently, a U.S. resident just had to click "I'm not [American]" to set up an account on Binance.com. It remains possible to create an account in this fashion. 

Binance is now sending emails to U.S. residents based on their IP addresses in what appears to be a significant step toward enforcing its previously announced blockade of such users.

💸 PayPal Crypto Now Available for U.S. Residents

PayPal said Thursday that it is opening up its nascent cryptocurrency services to all eligible U.S. users.

"We are pleased to announce that all eligible PayPal accountholders in the U.S. can now buy, hold and sell cryptocurrency directly with PayPal," the firm said in a statement.

The move follows disclosures of high demand from PayPal's leadership. On an earnings call earlier this month, PayPal CEO Daniel Schulman remarked that "our base is very eager for us to offer these capabilities" and that the firm's waiting list was bigger than expected.

"Due to initial demand from our customers, we’ve also increased our weekly cryptocurrency purchase limit from $10K/week to $20K/week," the spokesperson said.


Project Updates

What’s New in Eth2 - 13 November 2020

A very healthy update from Ben this week going over the usual phase 0 updates, testnet updates, staking & taxation, and much more!

Ethereum Cat Herders Update #33

Eth2 genesis on Dec 01, deposit contract live, 1559 multi-client PoW testnet, Eth1.0 YOLO & Berlin update, Peep an EIP-2718, Account Abstraction community call, and more.

The State of 1559 - Update 003

The Ethereum foundation has made a grant to ConsenSys and the 1559 multisig, exploration on forking testnets, updates on tooling, updates on escalator tip simulations and new content about EIP-1559.

Eth2 quick update no. 20

Staking community grants announced, new eth2 testnets Toledo & Pyrmont announced and a reminder about the eth2 deposit contract.

Beacon Fuzz - Update #09

2 consensus-related bugs identified in Prysm, 1 minor discrepancy identified on Teku and a devops update.

Upcoming Prysm V1 Release for ETH2 Mainnet

Before November 24th, PryLabs will publish a mainnet-ready, v1 release of their code that anyone can run, including tagged binaries via their easy prysm.sh script, docker builds, and also allowing you to build from source.

Lighthouse Update #32

A detailed update from the Sigma Prime team going over their mainnet development schedule for eth2 phase 0, a recap on how the genesis date will work, Lighthouse mainnet features and more.

Nimbus Update: November 10

Updates on the Nimbus client going over security, performance and ease-of-use.

Alexandria Dev Update #1

Alexandria is a new protocol under development for the Ethereum ecosystem. The goal is to provide a new peer-to-peer network that exposes the chain history for the Ethereum blockchain.

An Update on Umbra's Funding and Future

Umbra is a protocol for stealth addresses on Ethereum. In this update, the team goes over their funding needs, the grants they’ve pursued, the challenges faced, the current progress and the plan going forward.

Balancer Raises Additional Money

Balancer Labs announced that Pantera Capital and Alameda Research have made an investment in Balancer, through the direct purchase of BAL tokens from the Balancer Labs treasury.

Yearn.finance x Hegic: Options

In this post, Andre Cronje details how Hegic options products can be integrated into Yearn.finance’s products.

A new fund from the founders of Hegic and Yearn.finance was also created called ‘Molly & Andre’ - details here.

Blocknative Raises $5 Million

The latest round of financing was led by Blockchain Capital and includes participation from new investors IDEO CoLab Ventures, Coinbase Ventures, and Industry Ventures as well as existing investor Foundry Group.

Synthetix Updates

sOIL and iOIL now live on the Synthetix platform, the Bornite product release went live, the Regulus release went live, the Mimosa release went live and the Spartan Council was announced.

yAcademy Formally Proposed

Academy is a security wing tasked with auditing Yearn’s contracts, attracting and retaining top talent, and eventually generating revenue by expanding its auditing services to the ecosystem at large.

Aave V2 Now Available on Public Testnet

You can now test Aave V2 without spending real assets on the testnet client here - read the full post for instructions on how to get started.

Introducing Govbase

Govbase is a database of projects and tools in online governance. It is intended for developers and researchers.

mStable Protocol’s 3 Month Roadmap Update

Core protocol improvements proposed include mStable’s new AMM, mBTC, MTA tokenomics & an ~80% reduction in gas costs platform-wide.

Cryptowatch Adds Uniswap Markets

You can now use the Cryptowatch desktop app to monitor Uniswap markets on the dashboard.

LiquidStake Launched

LiquidStake will allow ETH stakers to take out USDC stablecoin loan against their staked assets while earning staking rewards from the eth2 network.

Axie Infinity October Development Update

AXS launched, new highs for monthly growth across all metrics, scaling updates and more.

Zerion Updates

Zerion now calculates profit & loss for all tokens, LP shares and vaults including network fees and daily returns.

UNION Raises $3.9 Million

UNION, a decentralized finance (DeFi) protocol building risk management tools, has raised $3.9 million in fresh funding.

The round was backed by Alameda Research, Solidity Ventures, 3Commas, and Black Edge Capital, among others. With fresh capital in hand, UNION looks to launch its protocol in the coming months.

dHEDGE Open Call for Managers

The dHEDGE DAO currently plans to invest up to 500,000 sUSD in pools managed on dHEDGE. This week, the team put out an open call for managers to apply to the DAO for an investment. Each pool can receive between 10,000 and 100,000 sUSD in investment from the DAO.

Celer State Guardian Network Launches on Mainnet

Phase One of the Celer State Guardian Network (SGN) mainnet is now up and running. SGN is the last piece of Celer Network’s coherent layer-2 scaling platform.

Metric DEX Update

Metric DEX shipped a new version which allows you to trade any 2 tokens wallet-to-wallet using a 0x relayer network.


Interesting Tweets


Ecosystem Bits

Blog Posts

Podcasts

Podcasts

Misc


Meme of the Week


Looking for Work?

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EthHub Weekly #139

Eth2 making moves, 1inch launches v2, Arbiswap announced/launched, NIFTEX raises $500k and much more!


Curated by Anthony Sassano (@sassal0x) and Eric Conner (@econoar)


🥩 Eth2 Phase 0 is Go

As I’m sure you’re all aware, the deposit contract went live this week which means we now have a minimum genesis time for eth2 phase 0 - December 1st, 2020 at 12PM UTC! I’m sure I don’t have to explain how excited both Eric and I are about this - Eric even came back to Twitter to celebrate! I penned a piece for The Daily Gwei that goes more in-depth on all of this which you can read here. Oh and Vitalik deposited 3,200 of his own ETH into the deposit contract!

Eric and I will be discussing all of this in-depth on the weekly recap podcast - don’t forget to subscribe so that you don’t miss it!

Have a great week everyone!

Anthony


News of the Week

🤯 Grayscale's Ethereum Trust Hits $1 Billion AUM

Crypto asset manager Grayscale's Ethereum Trust has crossed the $1 billion mark in assets under management (AUM).

The milestone means Grayscale is now managing a billion-dollar worth of ether (ETH) on behalf of its clients. Grayscale's Ethereum Trust allows investors to take indirect exposure to ETH in the form of a security, while avoiding the challenges of buying and storing ETH directly.

Last month, Grayscale's Ethereum Trust became a registered reporting company with the Securities and Exchange Commission to file quarterly and annual reports with the regulator. 

⚖️ U.S. Officials Seize More Than $1 Billion in Bitcoin

The U.S. Justice Department has seized and is now seeking the forfeiture of thousands of bitcoins tied to the now-defunct Silk Road dark web market, with the holdings valued in excess of $1 billion.

The Justice Department said in a statement that "[t]he seizure represents the largest seizure of cryptocurrency in the history of the Department of Justice." The news was first reported by Bloomberg

According to the statement, investigators used software tools to identify " 54 previously undetected bitcoin transactions executed by Silk Road, all of which appear to represent bitcoin, which was the proceeds of unlawful activity, that was stolen from Silk Road in or about 2012 and 2013." The release said that Chainalysis assisted in its investigation. 


Project Updates

Eth2 quick update no. 19

A very quick update from Danny Ryan this week that runs through the release of the deposit contract.

Eth 2.0 Dev Update #58 — “Mainnet Announced”

Bi-weekly update from PryLabs discussing the eth2 phase 0 mainnet announcement, the Medalla testnet, the usual development updates and more.

UMA Announces Developer Mining

50,000 UMA will be paid out weekly to developers that deploy synthetic assets using UMA. Each developer’s share of the rewards will be weighted by the value locked in their synthetic asset contract: the more popular a synth is, the greater share of the weekly rewards that the developer will receive.

NIFTEX Raises $500,000

NIFTEX, a platform that allows for the fractional trading of non-fungible tokens, announced a $500,000 funding round led by 1kx and joined by CoinFund, MetaCartel Ventures, Sparq and Digital Currency Group.

Making Maker: October 2020

An update from Maker covering everything that happened in the month of October including stats, a governance summary, media mentions and much more.

Dharma Announces Bank Account Integration

Dharma users now have the ability to buy tokens directly on Uniswap using their bank account. The service is currently limited to just 13 states in the U.S. and limited to $25,000 per week of purchases.

1inch V2 Launched

Improvements include an upgraded Pathfinder algorithm, an upgraded APY and a fresh new look for the website.

Keep3r Network Update

In this update, Andre breaks down how the Keep3r Network will be incorporating on-chain oracle price feeds into the protocol.

EIP-1559 Implementers Call #6

In this thread, Tim Beiko summarizes the latest implementers call and what the current progress is on EIP-1559.

Arbiswap Announced

Arbiswap is an implementation of Uniswap that uses Offchain Labs’ arbitrum rollup technology. It offers a 55x cost reduction in fees compared to mainnet.

Eth Gas Price Extension Updated

This update adds ethgas.watch as a new data provider option and there is now an official website for the extension.

Synthetix Barite Product Release

This update runs through the new front-end updates to the various Synthetix products.


Interesting Tweets


Ecosystem Bits

Blog Posts

Podcasts

Misc


Meme of the Week

For those out of the loop, that’s Vitalik’s dad (Dmitry Buterin) on the right.


Looking for Work?

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EthHub Weekly #138

New Ethereum.org dev portal live, Nansen raises $1.2mil, Keep3r network live, OpenZeppelin Defender introduced and much more!


Curated by Anthony Sassano (@sassal0x) and Eric Conner (@econoar)


🎁 ETHOnline Wrap-up

So ETHOnline wrapped up last week with 189 projects being built over the month of October - you can check them all out here. ETHBogota was also announced which will take place alongside Devcon in Colombia.

One really awesome project that I came across was Podcast Pools from Nader. As Nader describes it - “Podcast Pools allows for podcast creators to capture value by having their fans lock up stablecoins into a no loss lottery where the prize is an NFT that represents that week’s episode.” An awesome part about the project is that Nader used the Into the Ether podcast’s RSS feed as the bedrock for his project. Podcast Pools was awarded first place by Portis and awarded Best NFT Hack on PoolTogether! Congrats Nader and thanks for hacking using our podcast.

You can catch me on this months Nugget’s News Ethereum recap here - we had a lot to talk about!

Have a great week everyone!

- Anthony


News of the Week

🤯 Singapore’s Biggest Bank is Launching a Crypto Exchange

DBS, Singapore's biggest bank, is launching a fiat-to-cryptocurrency exchange according to The Block.

Dubbed "DBS Digital Exchange," the trading platform would allow users to trade in four crypto assets — bitcoin (BTC), bitcoin cash (BCH), ether (ETH), and XRP — against Singapore dollar (SGD), Hong Kong dollar (HKD), Japanese yen (JPY) and U.S. dollar (USD).

The exchange would also conduct security token offerings (STOs) "in due course" to help small and medium-sized firms raise funds, according to a now-deleted webpage, but you can still access the cached version of it.

"Digital assets are poised to be the future of tomorrow’s digital economy," the cached webpage reads. "With DBS Digital Exchange, a bank-backed digital exchange, companies and investors can now leverage an integrated ecosystem of solutions to tap the vast potential of private markets and digital currencies."

💶 Lagarde Seeks Public Comments About a Digital Euro

European Central Bank President Christine Lagarde Sunday announced an ECB survey of public opinion regarding the issuance of a digital euro, implying the central bank is considering a retail central bank digital currency (CBDC), not just one intended for use between banks, which would represent a much more profound change in the way finance works, according to Noelle Acheson, CoinDesk’s director of research.

"As Europeans are increasingly turning to digital in the ways they spend, save and invest, we should be prepared to issue a digital euro, if needed. I’m also keen to hear your views on it," Lagarde said in a tweet announcing the survey.

While saying the ECB is still reviewing the possibility of issuing a digital euro, the central bank president said in the video embedded in her tweet, "We've just launched a public consultation so that consumers and Europeans can actually express their preference and tell us whether they would be happy to use a digital euro just in the way they use a euro coin or a euro banknote knowing that it is central bank money that is available and that they can rely upon."


Project Updates

Ethereum Cat Herders Update #32

Yolov2 is launched, Binary trie format, Medalla deep dive, EIP-1559, and other Ethereum community updates.

What’s New in Eth2 - 31 October 2020

The usual round of updates from Ben including coverage of phase 0, Medalla, the eth2 roadmap, and links to important resources.

Introducing the New Ethereum.org Developer Portal

The “official” Ethereum website now has a brand new developer portal that provides a wealth of information about Ethereum development.

General Purpose Bridge for Ethereum Layer 2’s

In this post, Nick Johnson describes a bridge that could be constructed to bridge different Ethereum layer 2’s together - an issue that the community is very keen on figuring out and working on.

Nansen Raises $1.2 Million

Ethereum data provider Nansen has raised $1.2 million in a seed funding round led by Mechanism Capital and Skyfall Ventures, with participation from Robot Ventures, Volt Capital, and Fabric Ventures among other venture capital firms.

Introducing OpenZeppelin Defender

OpenZeppelin Defender allows projects to get products to market faster and minimize security risks by providing a development platform with built-in security best practices.

Alpha Homora Updates

Alpha Finance Labs announced a partnership with Siam Commercial Bank, one of the largest commercial banks in Thailand to work towards bridging traditional banking and DeFi, announced a new Alpha product in perpetual swap area, and added a WETH/SUSHI leveraged yield farming pool to Alpha Homora.

B.Protocol Now Live

B.Protocol makes lending platforms more stable by incentivizing liquidity providers (keepers) to commit on liquidation of under collateralized loans while shifting the miner extracted profits back to the users of the platform.

Zapper Product Updates: October 2020

Lots of updates from Zapper last month including new additions to the dashboard, new zaps, new language support and more.

DeversiFi Public Roadmap Published

In this post, the team breaks down what to roadmap looks like for DeversiFi over the short and long-term.

Keep3r Network v1 Beta Now Live

Keep3r Network is a new project from Andre Cronje and is a decentralized keeper network for projects that need external devops and for external teams to find keeper jobs.

Introducing Archer

Archer aims to be a sustainable revenue source that boosts miner revenue and strengthens the Ethereum ecosystem.

MetaMask Monthly: October 2020

MetaMask had a busy month in October with the launch of MetaMask Swaps, MetaMask mobile on iOS and Android and more.

Introducing ROOK

ROOK is the native token of the KeeperDAO protocol - this update from the team details its functions in the protocol and how you can get your hands on the token.

IDEO CoLab Announces $21M Crypto Fund

The fund is backed by IDEO, Avanta Ventures (the venture capital arm of CSAA Insurance Group), GS Group, Hanwha Asset Management, Fineqia, and other institutional investors, as well as executives from IDEO, Coinbase, Twitter, Fortress, and other major tech companies and financial institutions.

Unveiling the Superfluid Dashboard

This dashboard is meant as an active operational tool which is different from the DeFi portfolio management interfaces. The dashboard aggregates all user subscriptions, expenses, income, savings, investments and more.

Ocean V3 is Now Live

Ocean V3 is a core piece needed to unlock a new Data Economy. The logic and functionality for access control for Ocean V3 has been rebuilt from the ground up to simplify the on-boarding for Web3 natives, leverage the Ethereum network’s decentralized trust architecture, removing technical complexity inherent in a Proof-of-Authority network and integrate with state-of-the-art tooling for decentralized finance (#DeFi) that has appeared and matured during 2020.

Notional Announced

Notional is a new protocol that lets users lend and borrow crypto at fixed rates. After 10 months in stealth, the platform launches in beta on Ethereum today. The startup also announced Monday a $1.3 million funding round from a total of eight investors, including Coinbase Ventures, 1confirmation and Polychain.

Synth Asset Management with dHEDGE is Live

With dHEDGE, investors can earn rewards by managing a portfolio of Synths or invest in the performance of other dHEDGE portfolios.

Aave Admin Key Handover

The Aave protocol’s admin keys will be handed over to AAVE token holders which means that Aave’s governance will become decentralized.

DeFiDollar Raises $1.2M

The seed round was tri-led by Divergence Ventures, Standard Crypto & Accomplice with participation from angel investors.

Percent Ecosystem Update #1

Percent is a young money market project and in their first ecosystem update they go over everything they’ve done since launch.

Introducing Rosetta-Ethereum

Rosetta-Ethereum is an Ethereum Rosetta API implementation from Coinbase.


Interesting Tweets


Ecosystem Bits

Blog Posts

Videos

Podcasts

Misc


Meme of the Week


Looking for Work?

Top jobs listed on Cryptocurrency Jobs this week:


Support EthHub:


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EthHub Weekly #137

PayPal to support crypto, Yield Protocol now live, Polymarket raises $4mil, AUDIO live on mainnet and much more.


Curated by Anthony Sassano (@sassal0x) and Eric Conner (@econoar)


 EIP-1559 Inches Closer to Reality

EIP-1559 is the most anticipated EIP in Ethereum’s history because it brings with it an improved fee market and fee burning. For those unaware of why EIP-1559 is such a big deal, you can read my piece here. Anyway, Tim Beiko who is leading the effort presented at ETHGlobal this week (recap thread here). Tim also announced that ConsenSys Quorum and the 1559 Gitcoin multisig has received a grant from the Ethereum Foundation Support Program to cover client implementations, project management/comms, testing and bug bounties! This is amazing news and I’m glad to see the EF supporting this effort.

We also got an update on Virgil Griffith this week - he filed a motion to dismiss the North Korea conspiracy charge against him on the grounds that prosecutors from the Southern District of New York have failed to properly state Griffith’s crime. More details here.

Lastly, I was on a panel with a bunch of DeFi superstars last week - catch it here.

Have a great week everyone!

Anthony


News of the Week

🤯 PayPal to Enable Crypto Purchases With the Help of Paxos

Payments giant PayPal and its social payments platform Venmo are set to offer crypto buying and selling, people familiar with the matter said.

Crypto will solely be offered on PayPal to start, with Venmo slated to follow in 2021, the people said. PayPal has obtained a conditional license from the New York Department of Financial Services (NYDFS), allowing the firm to offer crypto buying and selling. The news was first reported by Reuters.

A conditional license allows a new firm to be compliant through collaboration with an authorized licensee, with the expectation that the new firm will eventually seek its own. For its part, PayPal is collaborating with Paxos.

PayPal's president and chief executive Dan Schulman told Reuters in an interview that the goal is also to encourage global adoption of cryptocurrencies and prepares for potential offerings of central bank digital currencies in the future. “We are working with central banks and thinking of all forms of digital currencies and how PayPal can play a role,” he was quoted as saying.

⚖️ $5 Million Penalty Proposed Between SEC and Kik to End ICO Lawsuit

Less than a month after a critical court decision in their ongoing legal fight, software firm Kik and the U.S. Securities and Exchange Commission have agreed to a proposed settlement that would involve a $5 million penalty.

The two sides had until Tuesday to submit their proposal, as previously reported. According to newly published court documents, the $5 million penalty forms part of a proposed agreement in the case over Kik's $100 million initial coin offering, or ICO.

The proposed agreement caps a legal fight that dates back to the summer of 2019. At the time, the SEC alleged that Kik's sale of KIN tokens constituted an unregistered sale of securities — an argument that Kik strenuously denied. But ultimately, the court found in favor of the SEC and agreed that Kik had indeed conducted an unregistered sale.


Project Updates

Yield Protocol is Live

Yield Protocol brings fixed-term, fixed-rate lending and interest rate markets to decentralized finance. Yield Protocol v1 enables fixed-rate borrowing and lending of Dai, using a new core DeFi primitive, fyDai.

Polymarket Raises $4 Million

The massive early round was lead by Polychain Capital with major participation from AngelList co-founder and closely followed investor Naval Ravikant. Other notable participants include industry stalwarts Balaji Srinivasan, Meltem Demirors, Robert Leshner of Compound, Aave’s Stani Kulechov, Synthetix’s Kain Warwick, major crypto VCs ParaFi and 1confirmation, Tarun Chitra, Kal Vepuri, Josh Hannah, Marc Bhargava, Samir Vasavada, and Calvin Liu.

New Maker Voting Portal Now Live

The new portal is ompletely redesigned with a focus on ease-of-use and includes features such as batch voting, filters on the polling page, a much quicker & responsive website and much more!

Gnosis Safe Now on the xDai Chain

By accessing Safe on the xDAI network, you can now enjoy instant transactions with low network fees.

Immutable X Now Live

Immutable X is a ZK rollup engine for minting and exchanging NFTs on Ethereum. Developers can get started by heading here.

New Features Added to Alpha Homora

New leverage yield farming pool includes WETH/YFI pool. New feature includes Bring-Your-Own-Token (BYOT) feature, a feature that allows yield farmers to supply another token that’s not ETH and can reduce slippage to 0% when opening a position.

AUDIO Live on Mainnet

The AUDIO platform token is now live on mainnet. The top 10,000 artists & fans received an exclusive AUDIO airdrop that is available to claim in your dashboard and use on the Audius platform.

Argent Upgrades In-App Trading

In-app trades on Argent now source liquidity from 10 different exchanges across 28,000 token pairs.

Nexus Mutual Updates

Founder of Nexus Mutual, Hugh Karp, provided a list of updates coming to the platform in the coming weeks and months in this Twitter thread.

Introducing Hardhat

Hardhat is a development environment to compile, deploy, test, and debug your Ethereum software. It was previously known as Buidler.

Introducing IDX

IDX is a brand new SDK for building with decentralized identity and user-centric data from the 3Box Labs team.

New WETH Contract Deployed

The new contract includes flash minting, ERC2612 permits, transferAndCall and more.

PoolTogether V3 Now Live

The new version includes larger prizes by doing leveraged yield farming, users can earn rewards for holding tickets or referrals, more prize pools and much more!

Ren Ecosystem Update

This update covers topics from RenVM network stats, integrations, new Ren Alliance Members, community updates, milestones, new blockchain additions, and more.

Status V1.8 Released

With the v1.8 release, Status aims to improve your control over your communication and your finances. Private group chats, which not only end-to-end encrypt all messages, but also keep the members of the group private, have doubled their capacity, now allowing up to 20 members.

dHEDGE Mainnet Now Live

The goal with dHEDGE is to create an unstoppable protocol that democratises investing and tears down the barriers for investors and managers alike. It’s now live atdHEDGE.org.

Wrapped Announced

Anchorage and Tokensoft have partnered to launch Wrapped, a service that creates digital representations of blockchain assets on the Ethereum network.

DeFi Saver Loan Shifter Now Live

You can now use DeFi Saver to instantly switch to a different protocol, change your collateral asset and change your debt asset in just one transaction.


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