EthHub Weekly #147
USDC v2, Illuvium announced, Opyn v2 is live, 2020 year in reviews and much more!
|Anthony Sassano||Jan 4||3||2|
[Sponsored] We at Perpetual Protocol believe in a future where trading derivatives is similar to trading on Uniswap - permissionless, borderless, and always open.
To achieve this vision, we build a derivative DEX with virtual AMMs so that people can trade perpetual contracts without the need for a counterparty. What’s more, in the future, people can create perpetual markets and get a cut of the transaction fees, akin to the LPs on Uniswap.
🎉 Hello 2021
Well, what an amazing way to start 2021 hey? ETH blasted through $800, then $900 then $1000, then $1100 before finally topping out and settling back in the $900’s. Obviously many in the community were celebrating this wild price movement but let’s not forget to stay grounded during these exciting times!
Eric and I put out our 2021 predictions for Ethereum last week which you can find here and here. I also put together a yearly recap video on The Daily Gwei YouTube channel which you can check out here.
Have a great week everyone!
News of the Week
After over three years of inactivity, an address associated with one of the largest hacks on Ethereum has begun to move ETH. In 2017, Parity lost over 150,000ETH (roughly $30M at the time of the hack) to a hacker who exploited a vulnerability in its multi-sig software wallet. At that time, it was the second-largest hack on Ethereum. The hacker then distributed 70,000 ETH evenly across seven wallets, one of which began to convert roughly 300 ETH to renBTC on December 27, 2020.
Address 0x4de76b3dfd38292ba71cf2465ca3a1d526dcb567 still holds 9,229 ETH and has not made any moves since December 27. None of the other addresses associated with the Parity hack have moved their ETH.
Crypto firm BitGo has settled with the U.S. Treasury Department's Office of Foreign Assets Control (OFAC) for apparent violations of sanctions programs.
According to OFAC, BitGo failed to prevent persons located in sanctioned jurisdictions, such as Crimea, Cuba, Iran, Sudan, and Syria, to open accounts and use its "hot wallet" services. The apparent violations occurred between 2015 and 2019, where BitGo processed 183 digital currency transactions, totaling nearly $9,130.
OFAC said BitGo had reason to know that some of its users were located in sanctioned countries based on those users' IP addresses, but failed to implement controls at the time of the transactions. As BitGo did not voluntarily self-disclose the apparent violations, it will pay a fine.
The firm has agreed to pay $98,830 to settle its potential civil liability. Penalty for such cases can go up to $53 million, but this case is "non-egregious," said OFAC, adding that BitGo cooperated with the investigation, took remedial measures, and hired a chief compliance officer.
A short update from Ben this week with a look at the state of the beacon chain, the testnets and a few blog posts.
In this post, the ETHGlobal team provides a comprehensive report of the data that they gathered from Ethereum devs.
In this post, Coinbase details how they upgraded their USDC token to v2 on Ethereum.
Illuvium is a decentralized, NFT collection and auto battler game built on the Ethereum network. Integrated with the hyper-scalable Immutable-X L2 solution, players of Illuvium gain access to zero gas fees for minting or exchanging of assets as well as sub-second transaction times, all with user maintained custody.
A bunch of updates from the Yam team about the treasury, its investments, the Yam DAO Set and more.
In this post, Antonio from the Oiler team details the vision for their blockchain native derivatives protocol.
The Optimism team reviews their 2020 and also updates us on their roadmap - they expect their “soft mainnet” to go live on January 15th running a full Synthetix experience!
In this post, Seb from Zapper details the massive year that the project had from officially launching in May to processing $1bil worth of volume for the year.
A review of Alpha Finance Lab’s 2020 and a preview of their 2021 plans including launching the AlphaX public testnet and mainnet.
Uniswap had an explosive year in 2020 and in this post they recap the launch of their v2, the growth of their liquidity and of course, the launch of the UNI token.
Fuel brings scalability to Ethereum for a range of payments-focused applications. You can check out their v1 here.
EPNS had a big year in 2020 as it marked the year of their birth, their first product launches and their recent fundraise.
Opyn v2 is now live on mainnet and with it comes a host of new features including margin improvements, European cash-settled options, earning yield on collateral and much more!
The Synthetix team reviews the big 2020 that they had going over their product releases, general growth, layer 2 experiments and more.
The latest update on the teams that the Ethereum Foundation is supporting via the ecosystem support program including EIP-1559, Gitcoin and more.
The first version of the Cairo Toolchain from StarkWare has been released and is now ready for developers to use.
Primitive is a new protocol that harnesses the power of simplicity to deliver tokenized options for any asset on Ethereum and it’s now live on mainnet.
In this post, the Connext team outlines their mainnet rollout and full decentralization timeline for Vector.
Meme of the Week
Looking for Work?
Top jobs listed on Cryptocurrency Jobs this week:
Software Engineer - GridPlus
Full Stack Engineer - Chainflip
Senior Frontend Developer - API3
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+1000’s more on the Cryptocurrency Jobs website!