EthHub Weekly #176
Arbitrum and Reddit team up, Index Coop introduces BED, Lyra DAO raises $3.3 million, Immutable introduces IMX token and much more!
🇪🇹 Trolling the Trolls
The Ethereum community is undefeated in its ability to take something that is meant as a negative and turn it into a positive. There’s no better example of that than what happened last week when the #ETH hashtag on Twitter had the Ethiopian flag placed next to it (because ETH is the country code for Ethiopia and the Olympics are currently on). Then, Twitter CEO and Founder Jack Dorsey tweeted out “#ETH” in an effort to troll Ethereans - but we ran with it and embraced it (as I’m sure you all saw on Twitter). I love this community!
In other news, I joined Crypto Texan for a chat with the Index Coop which you can listen to here.
Have a great week everyone!
News of the Week
JP Morgan has opened the doors to wealth management clients looking to invest in crypto funds, as reported by Business Insider.
Specifically, orders for Grayscale and Osprey's crypto-based offerings are now on the table for wealth management advisors at the U.S.'s largest bank. The move reportedly opens the gates for clients ranging from retail users on Chase's trading app to the jetset of the bank's private investment business.
Notably, these offerings are not themselves crypto investments, but rather trusts based on the performance of crypto assets. JP Morgan is also only authorizing its advisors to process these orders if they come from clients themselves, barring the advisors from presenting crypto-based funds.
These limitations reflect JP Morgan's longstanding hesitance to endorse investment in crypto. In May, CEO Jamie Dimon told a congressional committee "My own personal advice to people is to stay away from [crypto]."
Circle and Mastercard announced last week an engagement to use USDC to facilitate crypto-to-fiat conversions in a pilot program to expand the ability of issuers and crypto businesses to enable customers to spend their crypto assets. The engagement will test using USDC as a means for card issuers to more easily settle payments to Mastercard, helping accelerate the world towards greater use of internet-native financial infrastructure.
Upgrade your eth1 nodes for London, the merge checklist and draft EIP released, Altair devnets launch and more.
Content updates, CLR funding round for eth2 projects, translation program and community growth plans all detailed in this update.
Updates on the Sigma Prime team on their eth2 Lighthouse client including a reminder to update your eth1 node for London!
Reddit is scaling Reddit’s Community Points with Arbitrum! Last week, Reddit deployed a new Layer-2 rollup using Arbitrum’s technology and will be testing this scaling network on top of Rinkeby, before migrating to the Ethereum mainnet.
Secureum is a smart contract security auditing bootcamp initiative. The first bootcamp will take place from October to December 2021 which applications open until August 1st 2021.
Celer cBridge v1.0 is now live on mainnet! Users are now able to use cBridge to instantly transfer tokens across Ethereum, Arbitrum and Polygon with many more side chain and layer-2 chain integrations planned for in the near future.
Polygon Studios is a brand new arm for Blockchain Gaming & the NFT ecosystem. It aims to serve as a bridge between Web2.0 & Web3.0 world.
ZKNFT is a proof-of-concept NFT marketplace showcasing the zkSync NFT API. It is currently in alpha.
The round was co-led by Framework Ventures and ParaFi Capital with participation from various funds and angels.
Rabby is a new browser-extension made by DeBank with a host of new features - it aims to compete with MetaMask.
MakerDAO is now completely decentralized and the foundation will be formally dissolved over the next few months.
PawNFT uses an active auction mechanism to achieve three results:
Better price discovery for non-fungible assets through locked top bids
Ability to draw capital against NFT collateral, through active bids
Fixed-term, fixed-interest rewards for lenders
Decentralized finance giant Aave will launch an alternative to Twitter using Ethereum this year, the protocol’s founder told Decrypt.
The Bankless BED Index offers anyone, anywhere passive exposure to the most promising crypto themes - Bitcoin, Ethereum and DeFi.
Updates on wallet profiles, NFT season 1, protocol integrations and more from Zapper.
Delegation will arrive to MakerDAO on August 2nd, 2021. You will be able to delegate your MKR to "your delegate" for voting in governance, just in case you want to, for whatever reason you see fit.
The moonshot collective is a collection of builders & web3 community members who are looking to prototype experiments in coordination (whether that’s public goods, private goods, governance tools).
In this update, the Notional team details the NOTE token and Notional’s plans for decentralization and community ownership.
IMX is the native ERC20 utility token of Immutable X which is Ethereum’s first zk-rollup protocol for minting and trading NFTs, built in partnership with StarkWare.
The round was led by CoinFund with participation from Focus Labs, MetaCartel Ventures, Divergence Ventures and various angels.
The DVF DAO treasury is the Ethereum address that contains all of the funds raised in the DVF DLM. It will be managed by a council of signers who are well-known community members.
The refreshed website showcases Maple's focus on transparency, security, and scalability.
The round was led by a16z with participation from angels such as Kevin Durant and Ashton Kutcher.
Trident has 3 prongs: BentoBox native AMM, expansion of pool type options, and a new routing engine.
This program allows users to earn 15 LDO for every ETH staked using their unique Lido referral link.
FWB Gatekeeper is a web3 solution for the token gating IRL events experiences.
With an exit of beta comes a new Vault Liquidity Staking program now live on mainnet.
The Holy Trinity of Ethereum - The Daily Gwei
Generation Ethereum - The Daily Gwei
Ethereum Reorgs After The Merge - Georgios Konstantopoulos, Vitalik Buterin via Paradigm
MEV and EIP-1559 - Kristof Gazso (Nethermind) & Alejo Salles (Flashbots)
Retroactive Public Goods Funding - Optimism
Frontrunning a Scammer - Alex Manuskin
An Analysis of the Anon Trend in Crypto Discourse - eGirl Capital
The Billion User Table - Jon Stokes via 1729
A Prehistory of DAOs - Kei via Gnosis Guild
What to do With Your DPI - Michael Mtenga via Index Coop
An Introduction to Metagovernance - Daniel O’Connell via Index Coop
How to Use a DeFi Asset Management Protocol - Andrew Wilkinson
EthCC 4 | Liberté, Égalité, Décentralisé - Epicenter
Meme of the Week
Looking for Work?
Top jobs listed on Cryptocurrency Jobs this week:
Frontend Developer - Colony
Full-stack Developer - mStable
Senior Product Manager - Maple Finance
Full Stack Engineer (Contractor) - Guild of Guardians
+1000’s more on the Cryptocurrency Jobs website!