EthHub Weekly #128
Medalla is saved, USDT live on the OMG network, StarkWare and dYdX partner up, MetaMask updates license and much more!
|Anthony Sassano||Aug 24|| 5|
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🙌 Medalla Testnet is Saved!
Thanks to the incredible work of all the eth2 client teams, the eth2 phase 0 Medalla multi-client testnet recovered from a catastrophic error over the last few days providing just how resilient the protocol is. Ben gives a great rundown of the entire event in his piece here and Evan Van Ness explains why this bug was actually bullish for eth2 here. You can also read a very detailed incident report from the PryLabs team here.
I joined YouTuber Ivan on Tech this week to discuss all things Ethereum, Yield Farming, DeFi and more. You can watch that here.
Have a great week everyone!
News of the Week
Hester Peirce, the crypto-friendly commissioner of the Securities and Exchange Commission (SEC), was sworn into her second term on Monday.
The SEC announced the move, which came after the U.S. Senate confirmed Peirce alongside commissioner Caroline Crenshaw, on August 6. Peirce was formally nominated to serve a second term — which lasts until June 2025 — in June by U.S. President Donald Trump.
"I am honored to be able to continue to serve our investors and protect the integrity and efficacy of our markets together with the SEC staff and my fellow commissioners, including my newest colleague, Commissioner Crenshaw," Peirce said in a statement.
BitMEX, one of the oldest cryptocurrency derivatives exchanges, is to block users in one Canadian province.
According to a blog post on Monday, customers based in Ontario, Canada, will no longer be able to use the trading platform as of Sept. 1, 2020. New derivatives positions may not be opened after that date, while positions that are already open may run till Jan. 4, 2021. BitMEX said it would force close positions open at that point and requested users to close them prior to the shut-off date.
A precise reason why the block on Ontario users was brought in was not disclosed, but the exchange said it was "mandated" by the state's securities regulator, the Ontario Securities Commission.
In this weeks edition, Ben gives a great recap on what happened with the Medalla testnet over the last few days as well as the usual updates and explainers. He also put out another piece earlier in the week about the Medalla testnet incident that’s worth reading.
An update on last weeks update from the Nimbus team covering the status of their validator client.
In this update: community fuzzing debrief, latest bugs identified, next steps and more.
This update details how the ESP is supporting projects beyond just giving out money via grants by detailing some projects that received help in the form of AWS credits, social connections and more.
The USDT stablecoin is now live on OMG Networks layer 2 transfer layer. The integration will result in a reduction of confirmation times delivering faster payments while fees will be reduced without compromising on-chain security.
In this update, the POAP team recaps the last few months of work and project deliverables.
dYdX announced a partnership with StarkWare this week. Their engineering teams are collaborating on a Layer 2 scaling solution for Perpetual Contracts, based on StarkWare’s StarkEx scalability engine and dYdX’s Perpetual smart contracts. dYdX’s Perpetual Contracts will be powered by StarkEx by the end of this year.
In collaboration with Aave, the Opium Team built and launched a Credit Default Swap for Aave’s recent Credit Delegation feature.
MetaMask will be published under a new license going forward. Developers can still copy, modify, and distribute versions of MetaMask but developers that copy, modify, or fork the MetaMask codebase for commercial use with over 10,000 monthly active users are invited to enter into a formal commercial agreement with MetaMask.
In this post, Justin from the GridPlus team details how a DAO will sustainably govern the Phonon Network. The team also announced that the GridPlus Lattice1 firmware is officially locked and entering the release process.
DAOhaus v2 is an upgraded, community-operated, sustainability-focused product to spawn magic internet communities.
You can now enter any Yearn vault using any asset on Ethereum with Zapper’s new integration.
YieldSpace is a new automated liquidity provider for yDai (a token that is redeemable for Dai at maturity).
The migration from v1 to v2 happened last week and lasted just 3 days. You can read the full recap here.
Huobi DeFi Labs, Huobi Group's new research and incubation platform focused on decentralized finance, has launched a new consortium effort with MakerDAO, Compound, Nest and dYdX.
xSNX is a managed fund where staking returns and trading fees accrue to the Net Asset Value of the token. You buy once to get in and you sell once to get out.
This new beta version comes with features such as protected transactions, MyCrypto Memberships, and MetaMask multi-account support.
In this post, the team details the mechanics and distribution of the 1inch token, how their liquidity mining program works, and how you can get involved.
Meme of the Week
Looking for Work?
Top jobs listed on Cryptocurrency Jobs this week:
Blockchain Researcher - StarkWare
People & Culture Specialist - OmiseGo
Software Engineer (Frontend) - Dune Analytics
+1000’s more on the Cryptocurrency Jobs website!
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