EthHub Weekly #116

Eth2 Witti multi-client testnet goes live, mStable live on mainnet, Devcon6 announced, OMG Network V1 goes live and much more!

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

[SPONSORED] Matic Network, the leading Ethereum Layer 2 platform, is transitioning to the public mainnet!

Matic Network is a scaling solution that aims to provide a generalized Layer 2 platform which offers various approaches to Ethereum developers to scale their DApps for large-scale usage. For the initial phase, Matic has launched its hybrid PoS + Plasma sidechains on top of Ethereum which is already gaining huge traction - making Matic one of the fastest growing DApp platforms in the space.

Matic has already welcomed more than 40+ DApps onto their platform, including VR metaverse projects such as Decentraland and Somnium space, leading games like Blocklords, BattleRacers, and Light Trail Rush, as well as decentralized social networks such as Sapien and much more.

Matic has also been a prolific contributor to Ethereum education globally. Matic has conducted more than 100 hackathons to date, not only in India but worldwide, as well as contributing to EthGlobal hackathon EthIndia. With a scalable Layer 2 like Matic on Ethereum, applications have everything on Ethereum to build products ready for mass adoption.

💻 Eth2 and Hackathons, Oh My!

The next stage of multi-client eth2 testnets are upon us with the launch of Witti! Afri Schoe livestreamed the event on Twitch and you can keep track of the new Witti testnet here. The point of this testnet is to run with the changes that were introduced to fix what happened on the Shlesi testnet (it forked due to a consensus bug).

ETHGlobals HackMoney hackathon finished up this week with over 350 hackers participating and 116 DeFi-related projects being built. I was a judge for a bunch of these projects and I was blown away by the creativity (as per usual)! You can view all the projects here. Devfolio also announced a new Ethereum India Fellowship program which aims to help developers go from web2 to web3.

I caught up with Alex Saunders from Nuggets News for our monthly Ethereum ecosystem recap - you can watch that here. I also joined DappPocket on a podcast to talk about Ethereum and TokenSets.

Have a great week everyone!


News of the Week

💰 Coinbase Acquires Tagomi

Coinbase is acquiring Tagomi, a prime brokerage platform specializing in digital asset trading.

Announced Wednesday, the two companies said the deal is expected to be finalized later this year, without disclosing the financial terms.

“We are going to be integrating the Tagomi platform into our product suite and it will form the foundation for the future of our institutional trading business,” said Shan Aggarwal, head of corporate development at Coinbase.

In terms of how the integration will pan out, Aggarwal added: “Tagomi will continue to operate for the near future. We’re still thinking through long-term options.”

The purchase of Tagomi by Coinbase has been in the pipeline since last year when the deal was prematurely reported to have closed. A source familiar with recent developments said it was an “all-stock deal” and “significantly less” than the $150 million reported last year. 

📝 Digital Dollar Project Releases First Whitepaper

The Digital Dollar Project is proposing a framework for the creation of a U.S. central bank digital currency (CBDC).

The group published its first white paper Friday, detailing the need for a tokenized version of the U.S. dollar and some potential avenues for building this system. A digital dollar could help the U.S. maintain the dollar’s status as the world’s reserve currency while serving a broader array of individuals and entities than the current financial system, the paper says.

The group is helmed by former U.S. Commodity Futures Trading Commission (CFTC) Chairman Chris Giancarlo, Gattaca Horizons CEO and former CFTC Chief Innovation Officer Daniel Gorfine, Accenture Senior Managing Director David Treat and Pure Storage CEO Charles Giancarlo, with contributions from a number of Accenture analysts and directors. The Digital Dollar Foundation, which is working with Accenture on the project, was launched earlier this year.

“What we’re hoping to be is a catalyst for a discussion here in the United States about what role the U.S. will play in this ongoing and accelerating global debate over the future of money in a new digital age,” Chris Giancarlo, now senior counsel at Willkie Farr & Gallagher LLP, said.

Project Updates

StarkWare Reddit Onboarding Demo

Using StarkEx, the StarkWare team trustlessly onboarded to Ethereum Mainnet 1.3M accounts with initial balances, effectively demonstrating how an entire subreddit the size of r/FortNiteBR (with its Brick tokens) could be brought onto Mainnet. The amortized price per transfer: 600 gas.

The team created no network congestion in the process. They did it over a ~12 hour period while using 2.5% of the network. We paid gas prices that were on average 30% below the average block gas price during this time.

mStable Now Live on Mainnet

mStable is a protocol that unites stablecoins, lending and swapping into one robust and easy to use standard. The first mStable features (Mint, Save and Swap) are live today on their website.

What’s New in Eth2 - 30 May 2020

Ben update us on where we’re at with phase 0, provides a post-mortem on the recent testnets (Topaz and Schlesi), explains whats next (Witti), and provides the usual resources and research updates.

Prysm Eth2 Client Feedback

The PryLabs team are collecting feedback from anyone who has used their Prysm software to connect to the various eth2 testnets. You can fill out that form here.

TXRX Team Update

Updates on the eth1 <> eth2 merge, the eth2 network monitor, the results of a cross-shard transaction simulation and more.

ETHOnline Announced

ETHOnline is a new online-only hackathon from ETHGlobal that will take place from October 2nd to October 30th. Sign up here.

Devcon6 Announced

The next Devcon will be taking place in Bogotá, Colombia in 2021! Unfortunately, there won’t be a Devcon in 2020 (due to obvious reasons) but there are plans for more Ethereum Foundation run online events - stay tuned.

Loopring Monthly Update

Lots of updates from the team this week including a recap of the Loopring Protocol 3.5 release, Loopring’s DEX settled over 1M trades and has a new key management system with the Loopring Wallet being audited and entering beta soon.

Balancer Liquidity Mining Begins

This week, Balancer Labs will start considering liquidity held on Balancer protocol for the distribution of governance tokens. For details on the specifics please refer to their previous post.

OMG Network V1 Public Mainnet Beta Now Live

This new public beta is a fully trustless, low cost, high throughput way to transfer value at the same level of security as Ethereum. The OMG Network uses the More Viable Plasma (MoreVP) specification to increase the processing capacity of Ethereum.

Introducing DeFi777

DeFi777 simplifies existing DeFi systems by turning common DeFi actions into simple token transfers. The goal is to be able to take advantage of these protocols from any crypto wallet, without requiring Dapp browsers like Metamask.

Fortmatic Raises $4mil and Rebrands

Formatic has raised $4mil in a seed round led by Placeholder with participation from Lightspeed Ventures, SV Angel, Social Capital and more. Fortmatic also rebranded to ‘Magic’ to better reflect the service that they offer.

Introducing Pool Pipes

Pool Pipes are a feature released by the ZapperFi team that aims to help reduce liquidity fragmentation throughout DeFi.

Rocket Pool 2.5 Announced

Major features include the introduction of tokenized staking deposits, continous staking, extra deposit safety and updated RPL tokenomics.

Expanding Compound Governance

Robert from Compound goes over how their new governance system will work. The gist of it is that all users and applications built on Compound will continuously, and automatically receive COMP tokens to shape the future of the protocol.

Introducing Umbra

Umra is a privacy preserving stealth payments implementation built on Ethereum (and created at HackMoney 2020). You can learn how it works by watching this video.

Foundation Announced

Foundation is a new platform that claims the power of the stock exchange and reinvents it for independent artists, designers, and brands. It’s similar to other projects like Zora.

RenVM Mainnet Released

RenVM Mainnet is now live. This launch means anyone can now use real Bitcoin, Bitcoin Cash or Zcash on Ethereum by using the RenBridge to swap it for tokenized versions on Ethereum.

The Uniswap Market is Live on Aave

Users can now use Uniswap LP shares as collateral with Aave’s lending protocol.

Aztec Launches PLONK Cafe

PLONK Cafe is a forum for technical discussion and collaboration on TurboPLONK, Plookup, and other cutting-edge Universal SNARK technologies.

Alderaan Mainnet Released

This week, the Raiden Network Alderaan release went live on the Ethereum mainnet. The Alderaan release is the first full suite version of Raiden and it introduces a bunch of exciting new features including monitoring services, pathfinding services and mediation fees, compared to the Red Eyes release.

Matic Network Updates

Matic holders will be able to stake from many mobile wallets (Coinbase Wallet, Frontier, imToken etc), Ispolink has joined the Matic ecosystem, and Matic announced their support for ETHIndia’s Online hackathon Chain Runner.

Nexus Mutual Changes

In this update, Hugh Karp from Nexus Mutual discusses possible protocol changes that the team is thinking about such as pooled staking, simplified pricing, partial claims and more.

Centrifuge Goes Live

The team launched two products this week - Tinlake, their securitization app which lets investors and borrowers finance their own asset pools and Centrifuge Chain, their Proof-of-Stake blockchain.

EnjinCraft Plugin for Minecraft Introduced

EnjinCraft brings the power of blockchain to Minecraft, making it easy to tokenize Minecraft items and integrate them with your server.

Community Member Spotlight

This week we’re highlighting the great work of Jinglan Wang!

Jinglan is a long-time Ethereum community member currently working with the Optimism (formerly Plasma Group) team. She previously worked at Handshake, Nasdaq and was apart of the MIT Bitcoin Club. She also served as the Executive Director of the Blockchain Education Network for a time.

Keep up the great work Jinglan!

Interesting Tweets

Ecosystem Bits

Blog Posts



Meme of the Week

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EthHub Weekly #115

Gitcoin announces KERNEL, quarterly EF update, RAI whitepaper published, Uniswap v2 on mainnet and much more!

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

[SPONSORED] Matic Network, the leading Ethereum Layer 2 platform, is transitioning to the public mainnet!

Matic Network is a scaling solution that aims to provide a generalized Layer 2 platform which offers various approaches to Ethereum developers to scale their DApps for large-scale usage. For the initial phase, Matic has launched its hybrid PoS + Plasma sidechains on top of Ethereum which is already gaining huge traction - making Matic one of the fastest growing DApp platforms in the space.

Matic has already welcomed more than 40+ DApps onto their platform, including VR metaverse projects such as Decentraland and Somnium space, leading games like Blocklords, BattleRacers, and Light Trail Rush, as well as decentralized social networks such as Sapien and much more.

Matic has also been a prolific contributor to Ethereum education globally. Matic has conducted more than 100 hackathons to date, not only in India but worldwide, as well as contributing to EthGlobal hackathon EthIndia. With a scalable Layer 2 like Matic on Ethereum, applications have everything on Ethereum to build products ready for mass adoption.

🌳 Gitcoin Announces KERNEL

KERNEL is an 8-week, invite-only program for top tech talent looking to build relationships, products, and companies in blockchain and Web 3.

100 talented peers from around the world will join the KERNEL this June, and will be surrounded by leading mentors from the Web3 community. Gitcoin’s goal is to provide KERNEL Fellows with opportunities to learn, build relationships, and provide funding opportunities for the products they build, both from Web 3 companies and investors.

We’re big fans of Gitcoin at EthHub and we think this is an awesome opportunity to get involved with the Ethereum/web3 ecosystem. You can apply to be part of this program here.

The weekly recap podcast will be delayed by roughly 24 hours this week due to scheduling issues - sorry for the inconvenience!

Have a great week everyone!


News of the Week

🤯 Colombia, Deloitte, ConsenSys Sign On to WEF’s ‘Blockchain Bill of Rights’

The World Economic Forum revealed its Presidio Principles on Friday, a “blockchain bill of rights,” according to the nonprofit focused on fostering diplomacy and international business partnerships. The document includes signatories from the Government of Colombia, Deloitte Consulting LLP, ConsenSys, Electric Coin Company, CoinShares and the United Nations’ World Food Program, just to name a few. 

“We supported the creation of the Presidio Principles – as well as guidelines and design principles for public institutions – because we wanted to ensure that progress can continue rapidly and responsibly, ensuring that basic characteristics like security and data privacy are secured for our citizens,” Victor Munoz, Colombia’s presidential advisor on economic affairs and digital transformation, said in a press statement. 

Ethereum co-founder Joe Lubin encouraged crypto startups to become signatories and join the WEF’s open dialogue. In a press statement, he said he hopes “all builders of Ethereum-based projects – and across the blockchain landscape – will sign on to demonstrate their commitment to the users of their systems and applications.”

Indeed, Aya Miyaguchi of the Ethereum Foundation was involved. Greg Medcraft of the Organisation for Economic Co-operation and Development (OECD) and Delia Ferreira Rubio of Transparency International also contributed to the project.

💰 BlockFi Suffers Data Breach

BlockFi said an attacker got hold of users’ data by compromising an employee’s phone and taking control of the person’s phone number through a SIM swap attack.

The New York-based crypto lending platform announced in a memo to users on Tuesday that a hacker – whose identity remains unknown – gained access to some of its retail marketing systems for just over an hour early on May 14.

“On May 14, there was a data incident at BlockFi that exposed certain client account information for a brief period of time. While no information was accessed that would enable the intruder to access your account or your funds, we believe it is in the interest of transparency to share the following details with you, and all of our other clients who were potentially affected,” reads the memo.

BlockFi said the hacker accessed confidential data, such as names, dates of birth, postal addresses and activity histories. Other sensitive account information including bank account details, social security and tax identification numbers, passport and driver’s license numbers and photo scans, were not affected in the data breach, the company said. User funds were also not affected.

💳 Company That Sued FTX and Ripple Now Sets Its Sights on BitMEX

BMA LLC, the Puerto Rican company that three weeks ago filed a lawsuit again Ripple, has accused the BitMEX derivatives exchange of orchestrating the largest financial crime in American history.

The little-known firm, formerly known as Bitcoin Manipulation Abatement and controlled by Pavel Pogodin, filed suit in the U.S. District Court for the Northern District of California on Saturday, alleging that HDR Global Trading, the parent company of BitMEX, perpetrated a vast racketeering conspiracy designed to reap billions in illegal profit.

This plot featured wire fraud, money laundering, unlicensed money transmission, interstate transport of stolen property and violations of the Racketeer Influenced and Corrupt Organizations Act, or RICO, BMA alleges.

In a statement, an HDR spokesperson said the company was aware of the complaint, “which is clearly rehashed from information culled from the internet,” and that it would be defending itself “vigorously against this spurious claim.”

Project Updates

Ethereum Foundation 2020 Spring Update

This update focuses on how the Ethereum Foundation aims to help further Ethereum’s progress, on what they’ve been working on in terms of allocations and more, and on why their outlook is brighter now more than ever for Ethereum.

Eth2 Spec v0.12 Released

This spec release adds a bunch of changes to eth2 including adjustments to the inactivity penalty, networking tweaks and more for phase 0 with some notes on the phase 1 and light client specs. If there are no updates or issues, this will be the spec version that eth2 phase 0 will launch with.

Eth 2.0 Dev Update #50 — “Multiclient Testnet Restart + Slasher Improvements”

Bi-weekly update from the PryLabs team that recaps the Schlesi testnet (and gives some info on the next multi-client testnet, Witti), provides a report on the finality issues with the Topaz testnet and much more.

RAI Whitepaper Published

Reflexer Labs published a whitepaper covering the RAI project which aims to build a framework for launching Reflex Bonds, a new category of asset that provides stability relative to its underlying collateral.

Uniswap V2 on Mainnet

Uniswap V2 was deployed to the Ethereum mainnet this week. Both v1 and v2 will be running in parallel (as the v1 contracts cannot be removed) but Uniswap has built a liquidity migration portal to help Uniswap LP’s changeover to v2.

Lodestar Project Update

A brief update from the Lodestar team going over the work they’ve been doing on eth2 over the last few months.

Gnosis Safe Updates

Gnosis Safe Multisig is now available as a desktop app for Linux, MacOS and Windows and also includes a “contract interaction” feature.

Fuel Labs Releases Demo of Reddit Cash

Reddit Cash is a Burner Wallet powered using Fuel’s optimistic rollup for an easy and truly scalable use of Reddit Community Points. The demo lets you transfer, tip and exchange Moons and Bricks tokens.

Introducing defi18n

defi18n is a new project from Mariano Conti that aims to collect translations strings so that Ethereum projects can easily use them on their website or in other copy.

Miksi Announced

Miksi is an Ethereum mixer where all the computation & constructions are done offchain and then proved inside a zkSNARK to a Smart Contract (for the deposit and for the withdraw).

Ethereum Cat Herders Update #21

Ethereum Cat Herders community update is here with another issue to recap the latest in Ethereum developments and other exciting progress in the ecosystem.

Introducing KERNEL

KERNEL is an 8-week program from Gitcoin for technologists looking to build relationships, products, and companies in Web 3. is Now Trustless

The operator address for has been set to 0x00 on all instances (0.1 ETH, 1 ETH, 10 ETH, and 100 ETH), so that from now on, all contracts are immutable and unstoppable.

ETHBTC Synthetic Token is Live

A Synthetic Token to track ETHBTC—collateralized with DAI—has been built using UMA’s Priceless infrastructure. It is available on Uniswap v2.

First Cohort of Chicago DeFi Alliance Participants Announced

The list includes 0x, dYdX, Kyber, IDEX, Opyn, Set Protocol and Synthetix.

MetaCartel is Evolving

MetaCartel is evolving into a DAO incubator. They are doubling down to build the future of DAOs and community driven organisations.

Matic Prepares for Staking

In this update, the Matic team walk through how MATIC token holders can get started with staking once it goes live over the coming weeks.

Baseline Protocol Update

This week, the Baseline Protocol, an OASIS open source initiative, published a demo of multiple companies digitally managing purchase orders and volume discount agreements across disparate systems. The demo uses an approach called “baselining” to prevent data inconsistencies and workflow errors that often lead to problems in revenue recognition.

ZapOuts Now Live

You can now use Zapper to automatically withdraw liquidity from Uniswap pools.

Idle v3.0 Launched

The new platform comes with brand new allocation strategies, new supported protocols & assets, and a new dashboard to monitor and manage your interest-bearing tokens portfolio.

Fluidity Joins ConsenSys

Fluidity, the team behind the Airswap protocol, announced this week that they are being acquired by ConsenSys.

Introducing Pollen

Pollen is a lot of things; a DAO, a DeFi asset pool and a liquidity provider. It uses human capital, governance protocols and perfectly aligned interests to recalibrate and optimise based on market conditions.

Community Member Spotlight

This week we’re highlighting the great work of Stani Kulechov!

Stani is a very active Ethereum community member and is the Founder and CEO of Aave - a DeFi lending protocol that has seen meteoric growth over the last few months. Before founding Aave, Stani completed a Master’s Degree in Law and spent some time as a legal trainee at various law firms.

Keep up the great work Stani!

Interesting Tweets

Ecosystem Bits

Blog Posts



Meme of the Week

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EthHub Weekly #114

Reddit announces community tokens on Ethereum, ErisX launches ETH futures, lots of eth2 updates and much more!

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

🌑 The Moon Mission Fund

Long-time Ethereum community member DCinvestor published an interesting idea to Twitter and then expanded on it on Reddit last week. He asked the community who would be interested in donating to an “eth2 Moon Mission Fund” using Gitcoin. The purpose of this fund would be to take donations in any token, immediately convert it to ETH, and then unlock all the ETH in 3 to 5 years to be distributed to all the teams that have built eth2 clients (based on their % share of the network). DC goes into more detail on Reddit here and explains his rationale behind this idea.

Personally, I think it’s a great idea but I have some reservations. Firstly and probably the most obvious - who should manage these funds? Would we utilize a DAO or leave it up to a centralized body like the EF or ConsenSys? DC suggests that we could probably use the Gitcoin team as custodians (they are certainly not a bad choice) but I’m unsure of how much of the community would trust any centralized entity to hold onto a possibly large amount of ETH. Anyway, Eric and I will expand on this more on our weekly podcast recap episode - be sure to subscribe so that you don’t miss it!

Have a great week everyone!


News of the Week

🤯 Reddit Rolls Out ‘Community Points’ on Ethereum to Incentivize Positive Behavior

Reddit is expanding a trial program designed to let users reward each other for their contributions, using the Ethereum blockchain (currently on the Rinkeby testnet). The first two communities to utilize these features are r/Cryptocurrency and r/FortNiteBR.

The rewards (points) can be spent on premium features and used as a measure of reputation in the community, the social media platform said. Users are rewarded based on their contribution to their favorite channels, with the community ultimately deciding how many points each user receives. Users can hoard their points or spend them on unique features such as badges, custom emojis and GIFs in comments.

In addition, users will be able to leave a tip for comments they like or posts they see as valuable. Users will also be able to transfer community points directly to another Reddit member's Vault as well as any Ethereum wallet address.

In order to start contributing, users need to sign up to the "Vault," Reddit's local blockchain wallet, accessed via scanning a QR code through the official Reddit app.

💰 ErisX Announces Launch of First US Ether Futures Contracts

Crypto derivatives platform ErisX is launching Ether futures contracts, it announced Monday in a blog post.

The new contracts, the first futures contracts for the second-largest cryptocurrency by market cap in the U.S., will begin trading effective immediately, ErisX announced. The move comes a few days after ErisX announced it had received a virtual currency license from the New York Department of Financial Services, and would begin offering trading services in what is the nation's most stringent regulatory regime.

"Starting today individual and institutional investors can access physically delivered futures contracts based on ETH-USD with monthly and quarterly expirations. The ErisX futures exchange trades alongside the ErisX spot market on a unified and innovative platform enabling price transparency and collateral efficiencies," the blog post said.

Physically-settled futures contracts deliver actual tokens upon expiry, rather than the fiat equivalent.

💳 Visa Patent Filing Would Allow Central Banks to Mint Digital Fiat Currencies Using Ethereum

Visa looks to be laying the groundwork for a future in which fiat currencies such as the U.S. dollar could be easily turned into a central bank digital currency (CBDC).

The California-based payments giant, which processes upwards of 100 million transactions every day on average, has filed a patent application for a process for turning physical fiat currency into a newly digitized version.

The filing, which was filed with the U.S. Patent and Trademark Office in November and made public on Thursday, says the system would be able to mint digital fiat currency and keep a tally of all issuances on the blockchain (and it specifically mentions Ethereum). Managed by a "central entity computer," the system would also remove physical cash from circulation.

By the sounds of it, newly created digital fiat would be the exact equivalent, like for like, with physical cash. The denomination and serial number would even be carried over into the new system. The patent also says some sort of "trusted certificate" would be required to mint the digital cash, presumably to keep issuance a tightly controlled process.

Project Updates

Introducing Argent V1

Argent V1 is now live and offers one tap access to decentralized finance (DeFi). Argent now has integrations with TokenSetsPoolTogetherAaveUniswap V2 liquidity pools, CompoundMaker and Kyber. Get the app here.

Lighthouse Development Update #25

The Sigma Prime team has been hard at work on their Lighthouse client implmenting many upgrades and doing focused work on the Schlesi multiclient testnet. Read all about it and more in this months update from the team.

What’s New in Eth2 - 15 May 2020

In this weeks update, Ben attempts to answer the question “when eth2?” with some fact-based research and reporting. He also provides updates on the usual topics (client progress, testing, research and more).

DAppNode Releases New Dashboard

This dashboard allows users to monitor their eth2 validators and displays information around earnings, attestations & aggregations, and even provides alerts!

Nimbus Joins Schlesi Testnet

Status’ Nimbus client has joined the Schlesi eth2 multi-client testnet alongside Prysm, Lighthouse and Teku. The testnet also had its first fork over the weekend due to a consensus issue.

Bitfly Releases Eth2 Staking Calculator

Set custom economic, staking pool and network parameters along with a bunch of other parameters to get a rough idea of what kind of return you can expect from staking in eth2.

TXRX Research Updates

Highlights include the release of Onotole - a transpiler for eth2 pyspec, Schlesi network metrics and a write-up of the scope of the eth1 <> eth2 merger.

Justin Drake Proposes Eth2 Price Feeds

Justin made waves this week by making a suggestion that a simple price feed service should be added to the eth2 beacon chain. The service would allow building fully decentralised oracles that produce a price for every tracked asset at every epoch boundary, i.e. with a granularity of 6.4 minutes. Lots of good discussion in the thread itself including a response from Vitalik (who is opposed to the idea).

Eth2 Deposit Launchpad Announced

This new launchpad aims to be the easiest and safest interface that Ethereans use in order to became a validator in eth2.

OpenEthereum’s First Update

OpenEthereum v3 has been released and includes important updates including better node discovery and decreased database size. Read this thread for the full tl;dr.

Chainlink Announces VRF

Chainlink VRF utilizes verifiable random functions to generate randomness that is verifiable on-chain and is live now! Developers can get started here.

PoolTogether have already announced that they’ll be integrating Chainlink’s VRF into their protocol.

RabbitHole Announced

On RabbitHole, users can acquire XP, level up, and earn rewards for interacting with well-known blockchain protocols. RabbitHole breaks down each decentralized application into gamified tasks so users can understand the main functions of the application while simultaneously bootstrapping the network.

Tornado Cash Trusted Ceremony Now Complete

With a record 1114 contributions this was by far the largest Trusted Setup Ceremony to date. By comparison, all other trusted setup ceremonies had less than 200 participants.

$TAPE Launched on Zora

Grammy-winning DJ RAC released a personal token on the newly launched Ethereum-based marketplace called Zora. The $TAPE token represents a cassette tape featuring RAC’s new album and is sold on a bonding curve.

tBTC Live on Mainnet (for 2 days)

tBTC went live on the Ethereum mainnet this week but then over the weekend a bug was discovered which forced the team to pause deposits. A full post-mortem on what happened is coming soon.

Opium Exchange Now Live

Opium Exchange lets you list your own decentralized derivatives. The platform currently has gas-price options for DeFi live along with a some other contracts with up to 100x leverage.

DeBank Releases DeFi List

The DeFi List panel helps users explore different products/apps within the DeFi space using the DeBank portfolio tracker.

Loopring Updates

Loopring has deployed a new approach to generating layer-2 account keys on their website which requires no passwords, no account keys are ever the same, and it’s decoupled from the Loopring protocol itself.

dYdX Launches BTC-USDC Perpetual Market

Users can now trade BTC-USDC with up to 10x leverage by using dYdX’s decentralized exchange.

MetaCartel Ventures Makes First Investment

The DAO has decided to back to the decentralized stablecoin project MetaCoin as its first investment.

Radar Relay Relaunched

Relay now offers smart DEX routing, giving users access to liquidity from multiple sources. In addition to 0x orders, bridge orders afford access to better prices by tapping into liquidity on Curve, Kyber, Uniswap, 0x, and Oasis, with more on the way.


The old MakerDAO system (Sai) was officially shut down this week which means no new Sai can be minted (only redeemed).

Introducing DyDAI

DyDAI is a token that allows users to earn interest from dYdX margin deposits.

Frontier Integrates iEarn

Using Frontier Wallet, you can now earn the highest yield in DeFi by taking advantage of iEarn.

Community Member Spotlight

This week we’re highlighting the great work of Ben DiFrancesco!

Ben is an active Ethereum community member and is the Founder, CEO & Lead Engineer at ScopeLift - a software engineering consulting focused on crypto. Ben is also the co-organizer of Philly Blockchain.

Additionally, Ben curates the Build Blockchain newsletter which covers some of the most interesting things that happened in Ethereum and the wider crypto space each week. We recommend that you go subscribe right now!

Keep up the great work Ben!

Interesting Tweets

Ecosystem Bits

Blog Posts




Meme of the Week

Looking for Work?

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EthHub Weekly #113

Immutable X introduced, Yield Protocol announced, TranslationsDAO announced, POAP details next steps and much more!

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

🎙️ EthHub Discord Rebooted

The Ethereum community is growing at a rapid pace and there are a lot of new people coming onboard that have many questions around all crypto-related topics. So, to help educate these people, we cleaned up the EthHub Discord channel with the aim of turning it into more of a community learning hub. It’s been quite active lately with lots of questions around eth2 and staking - feel free to hop in and ask your own!

Eric and I participated in 2 panels at Ethereal’s Virtual Summit last week - the ETH is Money Panel (watch here - timestamped) and we interviewed ConsenSys founder Joe Lubin as part of a live Into the Ether podcast! Eric also joined WhalePool for a live interview.

Gitcoin is hosting the ‘New York Blockchain Week Hackathon’ in may. If you’re a developer and feel like hacking on something new, you can register here.

Have a great week everyone!


News of the Week

🤔 Sidestepping Telegram, Devs and Validators Launch Fork of TON Blockchain

TON Labs, a startup that helped Telegram run the test network for the Telegram Open Network (TON), launched its own version of the blockchain Thursday, with the support of professional validators. Called Free TON, the fork comes after the group decided not to wait until Telegram is able clear the regulatory hurdles it faces before it can officially send TON live.

The initiative is supported by 13 validators and used code maintained by TON Labs. During a Zoom call livestreamed on YouTube, the genesis block of the new blockchain was generated, effectively marking its existence.

"The network must not be censored, it must go to the world," TON Labs CTO Mitya Goroshevsky said on the call.

To distinguish itself from the original TON project, this forked version is named Free TON, and its tokens are called "ton crystals," not "grams," as Telegram’s were dubbed.

⛏️ Ukraine’s Nuclear Power Plants May Start Mining Crypto

Ukraine's Ministry of Energy believes that using power plants for crypto mining could be one of the best ways to take advantage of a current energy glut.

Cryptocurrency mining is a contemporary and efficient way to use excess energy, Ukraine's Ministry of Energy argued in a May 6 statement published on Facebook. According to the post, local nuclear plants have generated the surplus due to the COVID-19 lockdown.

The bureau is now looking to apply progressive solutions to avoid wasting energy as part of the government’s course toward digitalization championed by president Volodymyr Zelensky. Leaving the situation unchanged might create “conditions for corruption offenses, which will ultimately be paid at Ukrainian citizens’ expense”, the ministry warns.

Crypto mining, in turn, could prove to be one of the efficient solutions.

Project Updates

Eth 2.0 Dev Update #49 — “Multiclient Testnet + Security Audit”

Exciting update from PryLabs this week going over the recent multiclient testnet progress (3 clients in sync!) as well as the regular updates from the team.

Eth2 quick update no. 11

Rewards doubled for the phase 0 bounty program, an overview of the Schlesi multi-client testnet, and updates on preparations for v0.12 of the spec.

Introducing Immutable X

Immutable X is a decentralized, non-custodial exchange that scales trading on the Ethereum network with instant settlement and zero gas fees.

Introducing Strike — Decentralized Perpetual Swaps for Every Asset

Strike is a decentralized perpetual swaps trading protocol for every asset with Uniswap-inspired Automated Market Makers (AMMs) and a built-in Liquidity Reserve which backs and secures the AMMs.

The Synthetix.Exchange L2 Demo Now Live

This week, Synthetix and Optimism announced a new demo of Synthetix.Exchange on OVM (Optimistic Virtual Machine), a Layer 2 (L2) scaling solution. This integration demonstrates the power of OVM to deliver high-speed Ethereum transactions to supercharge the Synthetix trading experience.

Introducing OpenRaise

OpenRaise is an effort to bring the DAICO and bonding curve token models to life by enabling organizations to run accountable fundraising campaigns.

Liquidity Announced

Liquity is a new decentralized borrowing protocol designed to generate unprecedented liquidity against Ether as collateral.

Yield Protocol Announced

Yield is building yTokens, a new DeFi primitive, on Ethereum. The first token supported by the protocol will be yDAI, which will enable fixed-rate borrowing and lending in the Dai stablecoin with ETH collateral.

POAPs Next Chapter

In this article, the POAP team dives into two new features that they’re working on - POAP Vote and POAP Chat.

Primitive Protocol Enters Alpha

For their alpha release, the Primitive team have built two contracts that are meant to make interactions with the Prime simple. Primes are options that need a counter-party to provide the ‘underlying’ asset, which every Prime wraps into it. They’ve designed a liquidity pool to serve as a counter-party.

Kyber Ecosystem Report #14

A packed update from Kyber this week going over all of their growth, integrations, partnerships and more for the month of April.

Uniswap V2 Contract Audits Finalized

Now that the contract have been audited and formally verified, the launch of Uniswap V2 should be happening very soon!

Loopring 3.5 is Code-Complete and Ready for Review

Loopring 3.5 is an intermediate upgrade over the current 3.1 version which is being used by Loopring Exchange in production.

Introducing TranslatorsDAO

TranslatorsDAO is a DAO dedicated to the translation of Ethereum related content.

OroPocket Integrates with Matic Network

OroPocket enables investment in gold & silver with as little as 1 cent. The project will now be making sure of Matic network for speed, scalability and more.

Community Member Spotlight

This week we’re highlighting the great work of Afri!

Afri has been an active and long-time Ethereum community member. His previous roles included hardfork coordinator for Ethereum and a moderator of /r/ethereum. These days, Afri is helping out the eth2 effort by managing the multi-client testnet Schlesi, working on the Goerli eth1 testnet, and he recently founded Byzantine Fault - a distributed ledger technology & decentralized database think-tank.

Keep up the great work Afri!

Interesting Tweets

Ecosystem Bits

Blog Posts




Meme of the Week

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EthHub Weekly #112

Gnosis Safe Apps launched, Everest Registry is live, WBTC added to MakerDAO, ZapperFi announced and much more!

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

🎙️ Ethereal Week!

The Ethereal Virtual summit is happening this week on May 7th and 8th! Eric and I will be participating as part of the ETH is Money panel at 5:55PM EDT on May 7th alongside Ryan Sean Adams, David Hoffman and Camila Russo as moderator. We’ll also be doing a live podcast with ConsenSys founder Joe Lubin at 7:15PM EDT on Friday May 8th. Go here to check out the full agenda and to register.

Another exciting week for eth2 progress as Afri spun up a multi-client testnet named Schlesi with PryLabs Prysm and Sigma Prime’s Lighthouse clients participating! You can track its progress here.

Glassnode released yet another metric that I requested last week - the Ethereum HODL Waves chart which shows ETH holder behavior over the years. Interesting to note that over 16% (and growing) of the total ETH supply hasn’t moved in 3-5 years (the Ethereum network is just under 5 years old). Ethereans have strong hands!

Finally, the monthly Ethereum update video I do with Alex Saunders of Nugget’s News is live - watch it here.

Okay I promise this is the last thing - just a quick note that my team (Set Labs) are hiring for a Business Operations & Strategy Manager and Senior Back-End Engineer. If you’re interested, you can head here to apply.

Have a great week everyone!


News of the Week

⚖️ Telegram Caves to US Regulators: Delays Blockchain Launch, Offers to Return $1.2B to Investors

Messaging app Telegram postponed the launch of its TON blockchain for a second time on Wednesday, pushing the new go-live date to April 2021 and triggering a costly clawback clause in its agreement with token-sale investors.

According to a letter to investors, Telegram is offering to return up to 72% of each investor's stake. The terms were agreed upon when Telegram first postponed TON's launch in October, following a lawsuit from the U.S. Securities and Exchange Commission (SEC) charging Telegram with running an unregistered securities sale that raked in $1.7 billion in 2018. At the time, Telegram set a revised launch deadline of April 30, 2020.

The company lost an initial court battle with the SEC, with a U.S. judge ruling Telegram can't launch its blockchain or issue its forthcoming "gram" tokens until the case was resolved. On March 24, the initial preliminary injunction was left in place.

On Wednesday, however, Telegram floated another option for those investors who choose to forego their 72%: They can lend their investment to Telegram until this time next year.

The letter states: "As a token of gratitude for your trust in TON, we are also offering you an alternative option to receive 110% of your original investment by April 30, 2021, which is 53% higher than the Termination Amount."

🤔 Binance Launches Mining Services

Binance announced Monday the official launch of its mining pool service.

In an announcement post, the company said that its initial offering would focus on bitcoin using Full Pay-Per-Share, or FPPS. Under this method, revenue from the block reward – currently 12.5 BTC – as well as at least some of the transaction fees are shared among pool participants. Future offerings will focus on both proof-of-work and proof-of-stake based networks.

"Binance Pool seeks to complement the existing Binance exchange by providing users with mining services. Income from mining can be directly tradable on the Binance exchange, with direct access to P2P platforms," the post explained.

Binance formally unveiled the service at the start of April. Binance CEO Changpeng Zhao said Friday in a post on Twitter that the pool had discovered its first bitcoin block.

Project Updates

What’s New in Eth2 - 1 May 2020

Lots of testnet updates and news in this weeks edition of Ben’s newsletter along with a suite of research updates.

Introducing Gnosis Safe Apps

Safe Apps allow users to interact with Ethereum applications straight from the Safe Multisig interface. Users are able to customize their own interface by selecting from a list of apps. If an app is not listed in the UI by default, it’s possible to add a custom app by simply putting in the link to that app. Once apps are added, interacting with them will feel like executing any other multisig transaction. If your Safe has multiple signatures required to execute a transaction, those same requirements apply to Safe Apps.

Q1 2020 EIPIP Updates

The EIP Improvement Process (EIPIP) group was created in January 2020, with the first meeting organized on January 15, 2020, to discuss the challenges and mitigation plans for the Ethereum Improvement Proposal (EIP). Since then this group meets every other Wednesday to discuss proposed changes to the EIP process, EIP update, design a path for continuous improvement and other discussions around EIP.

In this post, Pooja from the Ethereum Cat Herders goes over all of the groups achievements for Q1 of this year.

Second-Gen Hardware Wallets & Feature Support

The team at Cobo have released new hardware wallets that are equipped with a Secure Element, QR code air-gapping and other core security features.

Everest Registry Launched

Everest is a universal registry of crypto projects curated by the community. With the launch of Everest, the community can now organize the crypto economy in a decentralized way & share details about dApps, DAOs, funds & more in a composable manner.

Loopring Monthly Update — 2020/04

This post covers r&d updates for all of Loopring’s products, recent metrics for the exchange, media coverage and more.

Loopring also announced a new referral program this week.

Infura April 2020 Update

Infuras multi-client testnet Beacon Chain API beta is coming, they have new web3 tutorials & webinars available and they go over lessons learned from being a data provider to leading Ethereum apps. Trusted Setup Ceremony Live

You can now help make fully trustless by contributing to the setup ceremony by simply heading here.

Nimbus update: May 1

Monthly update from the Nimbus team going over recent testnet work, mobile benchmark results, libp2p updates and more.

TXRX Research Updates

A bunch of updates from the TXRX eth2 research team going over the more technical side of eth2.


DeFiZap and DeFiSnap have merged to create ZapperFi - a new tool to help accelerate the adoption of DeFi.

WBTC Added to MakerDAO

WBTC can now be used within Maker to open Vaults in order to generate Dai at a stability fee of 1%.

MyEtherWallet Integrates with DEX.AG

You can now get the best possible price and liquidity on decentralized swaps, in seconds, on MEW web and MEW wallet app for Android (iOS coming soon).

It’s Time to Renew Your .ETH Names

If you registered a .ETH name back in the early days of ENS when it had vickrey auctions, you will need to renew it or else you will lose it by this August.

dYdX Launches “The Integral”

“The Integral” is a brand new blog that will explore a variety of research topics focused on crypto markets. Read the first piece here.

InstaDApp Launches the DSA Platform

The DeFi Smart Account (DSA) platform provides a single point of integration to access all the DeFi elements. Launched

This new website allows you to get the most up-to-date data across all of the oracles on Ethereum.

Etherscan Connect: A Beginning

Etherscan connect is a social network built on Etherscan that will allow for users to create profiles, follow others, comment on profiles and more.

OpenBazaar Now Supports ETH

You can now use ETH as a payment option within the OpenBazaar app.

Community Member Spotlight

This week we’re highlighting the great work of Adam Cochran!

Adam is an active Ethereum community currently working as a Partner at MetaCartel Ventures, in Growth & Strategy at DuckDuckGo, is a mod over at the /r/ethfinance subreddit and more. His official website has much more detail on what he’s worked on in the past and where his attention is focused these days - check that out here!

Keep up the great work Adam!

Interesting Tweets

Ecosystem Bits

Blog Posts




Meme of the Week

Looking for Work?

Top jobs listed on Cryptocurrency Jobs this week:

Support EthHub:

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