EthHub Weekly #148
OCC gives greenlight to banks to facilitate stablecoin payments, Gitcoin's year in review, Alpha Homora v2 detailed and much more!
📉 Volatility Coming at You
What a wild week of volatility in the crypto markets - we started the week at around a $1,000 ETH and now we’re pretty much back at that price after going up to $1,350. Unfortunately, this means I am still unable to post on Twitter due to a silly promise that I made a couple of days ago - I hope I don’t have to wait a few weeks to tweet!
On a more positive note, Eric and I will be back doing the weekly EthHub recap podcast from today so be sure to subscribe so that you don’t miss it - there’s obviously a lot to talk about!
Have a great week everyone!
News of the Week
National banks and federal savings associations can use public blockchains and stablecoins for settlement, The Office of the Comptroller of the Currency (OCC) said in an interpretive letter published late Monday.
The letter indicates that banks and savings associations can now run crypto nodes and utilize associated stablecoins for "permissible payment activities." This means banks can use public blockchains to validate, store, record and settle payment transactions as long as they're compliant with existing laws.
It also specifically mentions the use of stablecoins for transactions, saying blockchain networks can mitigate costs for cross-border transactions as a "cheaper, faster, and more efficient" means of payment. For that reason, it's empowering banks to utilize blockchains and their stablecoins for converting to and from fiat during remittances — and even issue stablecoins if they so choose.
Daniel Larimer, the chief technology officer of crypto project Block.one, announced his resignation on Sunday.
In a blog post, Larimer said that he resigned from the project at the end of last year, noting that "all good things must come to an end."
Block.one, which is the firm behind the EOS blockchain, raised $4 billion to build out a rival to Ethereum. Larimer has been with the company since April 2017.
"I will continue on my mission to create free market, voluntary solutions for securing life, liberty, property, and justice for all," Larimer wrote. "I do not know exactly what is next, but I am leaning toward building more censorship resistant technologies."
Still, Larimer said that he will turn his attention to creating tools that allow people to "secure their own freedom."
Gitcoin had an amazing 2020 and in this post they detail all that they accomplished including over $10 million being paid out to open source developers, 5 Gitcoin Grants rounds, 14 hackathons and more.
MetaCartel had a great 2020 with the continued success of the grants program, their presence at different Ethereum events and a recap of the MetaCartel family of projects.
Stablecoin Tether (USDT) is launching on Hermez Network, an Ethereum Layer 2 scaling solution that uses ZK-Rollups. Hermez said USDT will go live on the network when its mainnet launches in the coming weeks.
In this update, the Sushiswap team details their 2021 roadmap including BentoBox, Governance updates, layer 2 work and more.
The protocol development team shipped MIP-3 and MIP-4, and spent the majority of their time working on SAVE v2, mBTC and the new AMM. The front end team also focused their time on design and development work to compliment the eventual deployment of SAVE v2, mBTC and the new AMM.
Gas improvements were also launched for the mStable platform.
Alpha Homora v2 includes a new logo, new user interface, more functionalities, and more partners including Balancer, Curve, Cream and Sushiswap.
The round was backed by SevenX Ventures, Defiance Capital, 1kx, Multicoin Capital, and Aave founder Stani Kulechov, among others. With fresh capital at hand, Furucombo looks to expand its team and launch version 2 of its platform.
The Umbrella Internal Alpha began last week and is live on mainnet with a $10,000 cap on funds. The intent is for user’s to test functionality in production with small capital amounts.
The Colorado-based non-custodial exchange is now routing orders through decentralized finance (DeFi) applications in a bid to get rid of know-your-customer (KYC) regulations that gutted the cryptocurrency trading platform back in 2018.
A recap of products launched, treasury growth, DAO updates and a look ahead to what’s coming in 2021.
V2 of Futureswap provides features that serious traders expect, including live pricing, more performant trading, and higher capital efficiency. Core features such as AMM style liquidity providing, incentivized usage, and community governance remain mostly unchanged.
Airswap – the decentralized p2p trading protocol – is planning on a major revamp in early 2021, based on this announcement there seems to be major changes coming to the protocol from a smart contract, tokenomics, and even branding level.
EthBlock.art allows anyone to express their creativity using blockchain data and the styles made by talented creative coders and artists in the space.
Vitalik Buterin on Why Proof of Stake - Bankless
Meme of the Week
Looking for Work?
Top jobs listed on Cryptocurrency Jobs this week:
Front End Engineer - Zora
Automation QA Engineer - Aave
Marketing Content Creator - Gitcoin
Software Engineer (Data) - Dune Analytics
+1000’s more on the Cryptocurrency Jobs website!