EthHub Weekly #131

SushiSwap saga continues, various eth2 updates, BarnBridge closes a seed round, StableCredit introduced from yEarn and much more!

Sep 14, 2020

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

🍣 The Chef Returns

So over the weekend Chef Nomi from SushiSwap decided to send back the $14 million in ETH that he took from the treasury which just added to the absolute craziness of the last 2 weeks in Ethereum. I went into a bit more depth about it all here. Eric and I will also be discussing more about this on the weekly recap podcast (which is delayed by 24 hours - sorry everyone)!

So I had two major public appearances over the last week - 1 was with the Bankless guys where we recapped the SushiSwap drama (before Chef Nomi returned the funds) and another was with the fine folks at Blockchain.com where I spoke about Ethereum, DeFi, scaling and more! Check out the Bankless one here and the Blockchain.com one here.

Have a great week everyone!

- Anthony

News of the Week

🍣 Pseudonymous SushiSwap Founder Returns 38,000 ETH

Chef Nomi, the pseudonymous founder of decentralized exchange protocol SushiSwap, said Friday that they returned some 38,000 ETH — worth some $14 million at press time — to the project's treasury fund.

The development comes less than a week after Nomi converted some of the SUSHI tokens apportioned to the project's development team into ETH, sparking furor and triggering a market drop in the process, as well as allegations of an exit scam. That move ultimately kicked off a process that saw control of SushiSwap shifted to the chief executive of FTX. Earlier this week, more than $800 million in funds was then moved from Uniswap liquidity pools to SushiSwap as part of a migration process.

"I would like to apologize to everyone who I have caused troubles to. I was emotional, I was greedy, I was afraid. I made bad controversial decisions under pressure. And it hurt everyone. I failed your expectation and I am sorry," Nomi wrote in one post.

🤔 Lagarde Says Central Bankers Are Nearing Decision on Whether to Issue a Eurozone Digital Currency

Christine Lagarde, the head of the European Central Bank, said Thursday that it would soon be made public whether the Eurosystem will move forward with a eurozone-based digital currency.

Her remarks, reported by Bloomberg, come months after Lagarde first indicated that the ECB was working on such an initiative.

"The Eurosystem has so far not made a decision on whether to introduce a digital euro. But, like many other central banks around the world, we are exploring the benefits, risks and operational challenges of doing so," Lagarde was quoted as saying Thursday by Bloomberg. "The findings of a Eurosystem task force are expected to be presented to the public in the coming weeks, followed by the launch of a public consultation."

Project Updates

Eth 2.0 Dev Update #56— “Road to Mainnet”

Interesting and unique update from the PryLabs team this week as they have made their mainnet release checklist public so that everyone can see what the road to phase 0 mainnet looks like!

Eth2 Quick Update No. 16

Spadina (deposit and genesis dress rehearsal) testnet coming up, progress on the Medalla Data Challenge and more updates from Danny Ryan.

Medalla Data Challenge Announced

Up until 20 October 2020, the Ethereum Foundation is sponsoring a Medalla data analysis and data visualization blog post challenge.

Vision for OpenEthereum

In this post, Marcelo Ruiz de Olana from the OpenEthereum team explains how they are committed to focusing 100% of our efforts to provide resilience to Ethereum mainnet.

Ethereum Cat Herders Update #29

Medalla data challenge, YOLOv2 proposals, Peep an EIP, EIP-1559, breakout-room, hackathon, Gitcoin grant, and other community updates.

Introducing the DeFi Pulse Index on TokenSets

Set and DeFi Pulse announced the launch of the DeFi Pulse Index Set on TokenSets! The DeFi Pulse Index (DFP) is built on Set Protocol’s new v2 infrastructure and consists of 10 of the most popular DeFi tokens available on Ethereum. Check it out here.

The Ether is Now Live

The Ether is a new website that hopes to act as the premier Ethereum social governance portal.

mStable Governance Forum Now Live

The governance forum is where mStable improvement proposals will go for formal discussion, after being surfaced on their Discord server.

Nimbus Update: September 11th

Lots of technical updates in this update from the Nimbus team.

Etherscan Releases Yield Farm List

The price and market cap data of all known yield farming tokens are displayed on this new page.

Gitcoin Grants Roadmap

The new roadmap outlines how Gitcoin will solve sybil/collusion resistance + increase round sizes in lockstop.

BarnBridge Closes $1m Seed Round

BarnBridge is a cross platform protocol for Tokenizing Risk with Fixed Yield and Volatility Tranche Products. This week, they announced that they have closed a seed round from investors including Fourth Revolution Capital, ParaFi, Kain Warwick (Synthetix), Stani Kulechov (Aave), Andrew Keys (DARMA Capital), Centrality, Blockchain Companies and Dahret Group.