EthHub Weekly #134
Nexus Mutual launches shield mining, YAM roadmap update published, POAP launches on xDAI, RAC introduced and much more!
🥁 Zinken About Spadina
The short-lived eth2 phase 0 testnet, Spadina, went live last week but unfortunately there was low participation due to “operational faults”. For a full post-mortem, you can check out PryLabs write-up here. Another “dress rehearsal” testnet called Zinken will be spun up in the coming days with the aim of rectifying the issues discovered as part of Spadina. Some details on that here.
Vitalik published a new research piece titled “A rollup-centric ethereum roadmap” which basically runs through what a “phase 1.5 and done” world could look like for Ethereum. I won’t give a tl;dr here because I highly recommend reading the post in full! You can also read my deeper thoughts about the post here.
I joined YouTuber Dapp University last week to talk about what I believe to be the next big trends in Ethereum - watch that here.
Finally, Eric and I want to extend a big thank you to everyone who donated to EthHub’s grant on Gitcoin during the matching round - it is very much appreciated! I also wanted to thank everyone who donated to The Daily Gwei’s grant!
Have a great week everyone!
News of the Week
The Securities and Exchange Commission (SEC) told Salt Blockchain Inc., the owner of the lending platform that offers dollar-denominated loans collateralized by cryptocurrencies, that it would have to begin the process of offering refunds to investors.
It will have 14 days to issue a press release, announcing the order, on its website. In a public letter, the SEC said Salt's ICO violated securities regulations by not registering the sale beforehand. The SEC said the token counted as a security because Salt told investors they could expect to make a return on their investment.
Investors will have three months after the filing of a registration statement to submit a claim to Salt, which will be obligated to pay back their investment along with any agreed interest.
The U.S. Department of Justice and the Commodity Futures Trading Commission (CFTC) have filed charges against crypto derivatives exchange BitMEX and its owner-operators, including co-founder and CEO Arthur Hayes.
Hayes — along with co-founders Ben Delo and Samuel Reed — are accused of operating an unregistered trading platform as well as violating CFTC rules, including anti-money laundering and know-your-customer regulations.
"The complaint charges BitMEX with operating a facility for the trading or processing of swaps without having CFTC approval as a designated contract market or swap execution facility, and operating as a futures commission merchant by soliciting orders for and accepting bitcoin to margin digital asset derivatives transactions, and by acting as a counterparty to leveraged retail commodity transactions. The complaint further charges BitMEX with violating CFTC rules by failing to implement know-your-customer procedures, a customer information program, and anti-money laundering procedures," the CFTC said in a statement.
In a separate action, the Department of Justice filed criminal charges against Hayes, Delo, Reed and BitMEX head of business development Greg Dwyer with violating the Bank Secrecy Act. According to the DOJ press release, Reed was arrested in Massachusetts on Thursday morning "and will be presented in federal court there."
Medalla, Spadina & Zinken updates, a primer on rollups & eth2 phases, a look at the recent great explainers and more in this weeks eth2 update.
Eth2.0 Spadina testnet launch, Eth1.0 clients’ update, EIP-1559, ProgPOW, breakout-room, Peep an EIP, community updates, and more.
Devcon 6 will take place from August 10th to the 13th 2021 in Bogota, Colombia. More info here.
This new version adds features such as burner wallet support, interaction terminal for custom scripts, a UI rework and the whole thing now runs on the xDAI chain.
Eminence.Finance, the unfinished DeFi protocol by YFI founder Andre Cronje, was exploited last week. The attacker drained $15 million from Eminence and then returned $8 million to YFI. The $8 million was later distributed back to EMN token holders.
Users can now link their Safe Multisig to any dapp using WalletConnect, including Uniswap, MakerDAO, Aave and many more.
Starting Oct 1st 2020 fresh new POAPs are born on the xDai network blockchain and a bridge for collectors to move the POAPs to the Ethereum mainnet is going to be released soon. Read the full update for all the details.
The YAM team provides a roadmap update covering 4 key areas - protocol, treasury, ecosystem/community, and organization.
Alpha Homora is a protocol for leveraging your position in yield farming pools, or "dYdX for yield farming on Uniswap."
Stakers (risk assessors) deposit NXM and stake on contracts that they think are secure and this, in turn, allows other members to purchase smart contract cover on that system. Now, with shield mining, stakers will also be rewarded in the native token of partner projects, starting with tBTC.
Project pages have come to Dune and they include: key dashboards & queries, data tables + abstractions and resources related to the data.
In this update, Dharma details what the next few months of development will look like for the project.
The future of Synth exchanges is nearly here. This October, the Synthetix team will be launching the next generation of Synthetix.Exchange called Kwenta. Kwenta is a new derivatives exchange designed for users looking for multi asset trading and infinite liquidity.
Governance on mainnet, first AIP vote, details on the token migration, Aave metrics and more in this update.
Superfluid is a protocol for programmable cashflows and will allow users to move any assets on-chain in a stream, without the need for recurring transactions.
The SKALE network is now live with 135 nodes, 45 validator oganizations and 1000 SKALE chains.
ZeroSwap is a layer-2 DEX based on Zk-Rollup technology and aspires to solve the DEX bottlenecks within DeFi.
The Snowball Money App is now available on both iOS & Android and it allows you to access yield farming with a yEarn integration and also has a fiat on-ramp.
Updates on slashing processing discrepancies, BLS differential fuzzing, cloud fuzzing infrastructure, Teku integration and plans for a custom fuzzing engine.
You can now enable automatic liquidation protection and leverage increase on Aave using DeFi Saver.
Monthly digest of happenings from within the mStable engine room including updates on new hires and new products. mStable also announced a developer grants program.
RAC is a community token by Zora that is backed by the RAC project. Tokens will unlock access to various perks and exclusive content.
iOS notifications, mentions, local nicknames, & more are now available in the Status mobile app.
Non Fungible Tokens: News, Innovation & Development - Nugget’s News
Meme of the Week
dannyryan @dannyryaneth2 quick update no. 18 Oh you, Spadina, Finally, finality Hello and farewell https://t.co/J42gvvmkeN tl;dr below
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