EthHub Weekly #154
Berlin timeline announced, ETHGlobal announces NFTHack, RAI now live and much more!
🛣️ A Bumpy Road
Well the last 24-48 hours in the markets have been quite wild, huh? ETH hit a new all time high of $2038 and then fell 26% to $1507 before quickly slingshotting back up again. For those who’ve been around for a while, this is nothing new and just par for the course in crypto but for the newer people this may have seemed quite scary! Don’t fret though - this doesn’t mean the bull market is over or anything - it just means that the market “reset” itself after getting a bit too overheated!
Have a great week everyone!
News of the Week
Blockchain.com, the London-based crypto wallet and exchange operator, has raised $120 million from a group of macro investors.
American hedge fund manager Louis Bacon’s Moore Strategic Ventures, Hayman Capital Management founder Kyle Bass, Access Industries, Rovida Advisors, Lightspeed Venture Partners, GV, Lakestar and Eldridge all participated in the round.
The firm has now raised more than $190 million to date.
Blockchain.com founder and chief executive told The Block the money would be used to “further credentialize the company to institutional clients around the world, and build further bridges and trust between the traditional finance sector and crypto.”
Deep-pocketed investors appear hungry for Coinbase equity ahead of the crypto exchange's long-awaited direct listing.
As per data compiled by The Block, the average clearing price for shares on Nasdaq Private Market continues to tick higher since the first secondary sale four weeks ago. The most recent cleared price was $373 a share, which would imply a valuation of about $100 billion.
That's an increase from the first average cleared price of $200 in January, according to data shared with The Block.
Nasdaq enables secondary offerings for Coinbase stock, a process that allows ex-employees and investors of the crypto exchange to sell their shares.
The secondaries start Monday morning and end Thursday afternoon each week. The auctioning and clearing process happens after the close and results are posted Friday morning. The identities of the bidders are not clear at this time, but a source said that they are likely large investment firms.
The next Ethereum network upgrade will be deployed to mainnet on the 14th of April 2021 (if everything goes well with the testnets).
In this document Vitalik details all of the changes coming to the Beacon Chain as part of its first hard fork (due mid-year).
Ethereum is looking for new EIP Editors to moderate the EIP repo - check out this post to see how you can get involved.
NFTHack is a hackathon that will take place from March 19th to March 21st and will, as the name suggests, focus on all things NFTs.
Coinbase has opened a waitlist for their eth2 staking service that will offer users 7.5% APR on their ETH with a 25% commission fee.
Alchemix is a DeFi protocol that allows for the creation of synthetic tokens that represent the future yield of a deposit. It enables users to retrieve near instant tokenized value against temporary deposits of stablecoins.
It’s now easier than ever to watch your wallet, top stablecoins and top DEXs using Blocknative’s mempool explorer tool.
RAI is an ETH backed, non pegged stable asset whose monetary policy is managed by an on-chain, autonomous controller. You can read more about it here.
This post aims to explain the tokenomics of the $ILV token, rigorously breaking down the total maximum supply of 10,000,000 as well as explaining the fundamental revenue streams built into the protocol.
This post represents some of the key additions made since November 2020’s Bornite product release.
This is part 2 of Rocket Pool’s Staking explainer series in which they break down the protocol and how the trusted node DAO’s work.
DeFi Smart Layer (DSL) is a financial infrastructure layer for the decentralized internet, to make accessing and maximizing DeFi easy for all users and developers. InstaDApp also introduced their native governance token.
The native token of the PoolTogether protocol, POOL, went live and control of the PoolTogether Protocol now rests solely with the community.
Ribbon Finance is a new company focused on creating crypto structured products on DeFi. They are focused on building new financial products that can be created through cross-protocol composition, to help users achieve a superior risk-return profile than they would be able to on their own.
With Charged Particles, any NFT can be transformed into a basket containing other ERC-20 tokens, even other NFTs. They raised a pre-seed round from investors The LAO, CoinGecko, ParaFi Capital and more.
The fund gives investors exposure to UNI, AAVE, SNX, MKR, COMP, UMA, YFI, ZRX and LRC.
The next iteration of the ESD experiment will be a two-token, protocol-owned collateral algorithmic stablecoin.
Babylon.finance is a new DeFi protocol aiming to be a community-led asset management platform.
Reviews DAO is a place for peer to peer reviews of smart contracts and systems on Ethereum.
This represents the 1st gas-free zkRollup AMM dedicated to tokenized Bitcoin.
Earn up to $50,000 for finding vulnerabilities in Liquity’s system.
Stani Kulechov on Why Aave Is So Successful - Unchained
Meme of the Week
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Top jobs listed on Cryptocurrency Jobs this week:
Marketing Lead - Set
Front-End Engineer - Yield
DApp Developer (ReactJS) - OctoFi
Social Media Marketing & Brand Ambassador Manager - APY Vision
+1000’s more on the Cryptocurrency Jobs website!