Blockchain

Key Takeaways Pontem partners with Polkadot node provider to finalize experimental test network for Facebook’s Diem blockchain. The partnership with PinkNode means the Pontem team can deploy nodes on Kusama, Polkadot’s canary network. Pontem aims to help Diem introduce new features by testing them in the Polkadot ecosystem. Share this article Pontem, an experimental network for Facebook’s Diem project, has teamed up with Polkadot-based node infrastructure provider PinkNode. Behind Pontem’s New Deal Pontem has partnered with PinkNode, an infrastructure-as-a-service provider on Polkadot. The partnership will let Pontem deploy an experimental test network for Facebook’s Diem blockchain, formerly known as Libra. Diem is an ambitious blockchain project from Big Tech mainstay Facebook but is not open to public participants due to its permissioned nature. As a result, developers and entrepreneurs working on Diem may find it difficult to build open source solutions that can compete to the level of innovation with public blockchains such as Ethereum or Polkadot.  This is where Pontem comes in. Founded in 2020, Pontem uses Substrate, Polkadot’s software development kit, to build a blockchain with a codebase almost identical to Diem’s. The project aims to help Diem onboarding new features and solutions by first testing them in the Polkadot ecosystem. To this end, the project recently raised $4.5 million from several venture funds including Mechanism Capital, Kenetic Capital, and Animoca Brands.  The PinkNode deal will allow Pontem to deploy nodes and other API endpoints on Kusama, Polkadot’s canary network, to finalize its network.   Due to deploying the nodes and API endpoints, Pontem will help developers interested in Diem test new features in the Polkadot ecosystem before directly submitting them to Diem. This will also enable new projects on Diem to test their product-market fit on Polkadot.  Boris Povod, the founder of Pontem, said of the partnership: “With Pinknode acting as our primary infrastructure provider, their reliable and secure API endpoints will be a key building block to completing our joint goal of improving Polkadot’s current infrastructure, while also allowing us to work towards our goal of becoming the experimentation network for Diem. We look forward to what this partnership will bring.” Through Polkadot’s interoperable network, Pontem also plans to build a bridge that connects the Diem blockchain with Ethereum, the network that underpins the burgeoning decentralized finance space and contains more than $55 billion in total value locked. According to Pontem, connecting the two networks will expose Facebook’s 2.7 billion users to DeFi. Slated for launch in 2021, Diem will issue fiat-backed stablecoins that can be integrated with Facebook’s banking and e-commerce services, a strategic move that faced a lot of resistance from regulators.   This news was brought to you by ANKR, our preferred DeFi Partner. Share this article The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information. You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities. See full terms and conditions. Facebook’s Crypto Testnet Averages 6 Transactions Per Second  Facebook’s testnet has been live for over a month as the Libra Association prepares for the next stage with broader participation among members.  Facebook’s Libra Moves a Step Ahead  The… What Is Diem? Introduction to the Facebook-Backed Stablecoin The Facebook-backed Diem Association has finalized plans to launch its Diem cryptocurrency in early 2021. Here’s all there is to know. What Is Diem? Diem is a stablecoin similar to… Efficient Market Hypothesis: Does Crypto Follow? The Efficient Market Hypothesis (EMH) is a concept in financial economics which states that security prices reflect all the available information about a financial instrument. EMH is one of the… NFTs Are Coming to Polkadot as Kusama Deploys Ethereum Alternatives NFTs on Polkadot may arrive sooner than expected thanks to its canary network Kusama. NFT Projects Expand on Kusama Many of Kusama’s initiatives share a common goal of deploying NFTs…

Key Takeaways The first iteration of Sushi’s NFT marketplace, Shoyu, is expected to go live in August.  It will initially launch on Ethereum and Polygon, with multi-chain support in the pipeline.  The platform’s designers have optimized gas fees by moving the order book for the NFT trades off Ethereum. Share this article A group of developers supporting the popular SushiSwap protocol has written the smart contracts for a new NFT marketplace called Shoyu. The platform will give earnings to xSushi holders and optimize gas fees for NFT trades.  Developers Plan Shoyu Launch Sushi is launching an NFT marketplace called Shoyu. LevX, the lead developer behind the project, posted an update about the platform on Sushi’s forum Wednesday. Shoyu’s pseudonymous team of developers noted that the protocol’s design has been completed, though there is still work to do on the frontend, cashing layer, and infrastructure. LevX also shared other details concerning features, the roadmap, fee structure, and a solution to Ethereum’s gas fee problem.   The contracts are currently unaudited, but the team has scheduled security checks from Peckshield, Mixbytes, and Zokyo. Apart from LevX, other lead contributors to the code are Future Fund, Ayoki, Evan Keast, Zach Noble, and Omakase Bar. The proposal for the NFT platform was first raised in March. The community voted for the name “Shoyu,” which means soy sauce in Japanese. Shoyu is planning to launch a digital collectible marketplace and a 3D metaverse similar to games like Axie Infinity and Decentraland.  The platform will support NFTs from Ethereum and other chains in a Solidity-based multi-chain ecosystem. It will also enable Sushi token holders to earn a portion of the fees the protocol generates. According to the plans posted on the Sushi forum, 2.5% of every transaction will go to xSUSHI holders (xSUSHI is the liquidity provider token obtained from staking SUSHI on SushiSwap’s pools).  Shoyu is slated to launch around mid-August with further updates planned for November and January 2022. The team is working on a “Japanese sensibility and aesthetic” for the interface.  Source: Sushi ForumShoyu’s contracts will also come with an in-built exchange function to optimize gas fees. It will reduce the number of on-chain bids for NFTs on Ethereum by taking an off-chain approach. Conversely, it will use an on-chain order book on Polygon.  Shoyu is not the only platform the Sushi community has been working on this year. In May, it launched an initial offering launchpad called MISO. The first sale was for a rare bottle of tokenized sake. The NFT space took off earlier this year and has continued to draw interest despite the negative price action in the crypto market. NFTs have become popular among digital artists, musicians, sports personalities, governments, and celebrities as a way of sharing content with fans.  In a sign of the space’s enduring popularity, Axie Infinity’s AXS token jumped over 200% in the first week of July. Decentraland’s MANA token also surged over 50% in the same period.  Meanwhile, celebrities and personalities from the sporting and entertainment worlds continue to enter the market en masse. Sushi’s Shoyu will attempt to capture some of the market share while competing with the likes of Rarible, OpenSea, Decentraland, and Axie Infinity.  Share this article The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information. You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities. See full terms and conditions. After Successful Launch, Solana DEX Raydium May Integrate SushiSwap SushiSwap on Solana? Thanks to Raydium, it may happen soon.  Proposed SushiSwap Integration  Raydium, a new automated market maker (AMM) built on the Solana blockchain, may integrate SushiSwap.  A proposal… What is Kusama? How Polkadot’s playground accommodates blockchain de… Kusama is relatively young and was founded in 2019 by Dr. Gavin Wood, who also founded the Web3 Foundation and co-founded Ethereum. The team behind Kusama is essentially the same… Coinbase Pro Lists SushiSwap, Polygon, Skale Network Order books for Polygon, Skale Network, and SushiSwap will open on Coinbase Pro this week.  Coinbase Pro Expands Listings  Coinbase Pro is adding three new tokens this week.  Inbound transfers… Sushi to Sell Tokenized Sake on Initial Offering Launchpad Sushi is releasing a rare bottle of tokenized sake with an eye-watering price tag on its new launchpad.  Sushi Launches New Launchpad  Sushi has created a launchpad for new projects…

Key Takeaways Dfinity founder Dominic Williams has proposed a fork of the Internet Computer network called Badlands. The new fork would come with a new token that would be airdropped to ICP holders. Critics have raised concerns about launching a new blockchain and token. Share this article Dfinity’s founder Dominic Williams has shared tentative plans of an Internet Computer fork called Badlands. However, some community members have opposed the plans. Dfinity Faces More Criticism Three months after Dfinity’s Internet Computer went live, the project’s founder Dominic Williams has proposed a fork of the blockchain. In a blog post, Williams conceptualized a new blockchain called Badlands. The post explained how Badlands would act as a sister network to Internet Computer, a highly scalable blockchain network Williams founded. Williams said that the team would fork the Internet Computer and issue a new Badlands token, BDL. The token would be airdropped to holders of ICP, the native token of Internet Computer, and a portion would be sold in a crowdsale, with the proceeds used for research and development, Williams said. While some community members expressed excitement over the news, others criticized the proposal and questioned the motive behind issuing a separate new blockchain and token. This is very similar to Kusama-Polkadot. $KSM $DOT Doesn’t seem very original and also takes away from $ICP IMO. Why not just keep it as a subnet? Also I thought ICP NNS was to prevent forks? This is essentially a fork of ICP for experimentation. — Andrew (@CloudedLogic) July 4, 2021 Among the critics, Jordan Last, a well-known developer working on Internet Computer said that Badlands should be deployed as a subnet rather than launched as a separate chain. A subnet is an application-specific blockchain network within the Internet Computer. Although the decision currently remains undecided, Williams said that he would prefer to launch a new token through a network fork instead of a subnet. Please, please, please just do this as a new subnet type if you’re going to do it at all. I have multiple concerns with the Badlands concept, but most of them stem from the introduction of an entirely new network and token. Just skip all of that and create new subnet types. https://t.co/8tTninbXEM — lastmjs.eth ∞ (@lastmjs) July 4, 2021 The ICP Debacle Other critics say that a new token could exacerbate the previous ICP token distribution debacle that took place following the mainnet launch in May. A report by Arkham Intelligence alleged that the Dfinity team front-ran investors through their distribution of ICP tokens. Arkham found that the team allegedly forced vesting schedules upon seed investors and airdrop holders, while insiders at the firm were able to liquidate unvested allocations of the token. David 😉 we should talk some time because somehow you’ve got completely the wrong impression of this project and its aims The purpose of Badlands is to bring amateur node providers into the Internet Computer ecosystem, something people have long been asking for — Dominic Williams ∞ (@dominic_w) July 4, 2021 This schedule allegedly contributed to ICP’s price drop from $730 to around $38, the equivalent of a 95% drawdown. The crash wiped over $300 billion in value in less than a month, making it one of the fastest in crypto history. Rather than clearing up Arkham’s accusation, Dfinity has chosen to remain silent on the issue. However, Williams responded to a Dfinity fan’s question about the report claiming that it was “sponsored by a competitor.” Williams claims that the Badlands network will be open to everyone to run nodes using cheap device configurations like the Raspberry Pi. This would overcome the need for buying expensive hardware currently needed to run a node for Internet Computer. Share this article The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information. You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities. See full terms and conditions. Was the Dfinity Team Responsible for ICP’s 95% Crash? Since its launch, a 95% crash in ICP’s token price has raised suspicions that Dfinity Foundation carried out crypto’s biggest ever rug pull. Although the team has denied all allegations,… Dfinity Mainnet Is Ready for New Age of Web Apps Dfinity has announced the successful launch of its governance blockchain mainnet, known as Network Nervous System (NNS). Dfinity’s Cloud Computing Project Switzerland-based blockchain project Dfinity aims to compete with centralized… Dfinity Showcases a Decentralized TikTok Made in Under 1000 Lines of C…  “CanCan,” a decentralized alternative to TikTok, is aimed at demonstrating the capabilities of Dfinity’s software platform. Dfinity came onto the scene in 2018 after a flurry of investments led by… What is Polygon (MATIC): Ethereum’s Internet of Blockchains In terms of both decentralized app (DApp) development and adoption, no blockchain has been more successful than Ethereum (ETH). But despite its relative success, the Ethereum network still contains several…

Share this article Digital Assets AG is bringing tokenized stocks for 55 companies to Solana. FTX exchange will be the first platform to enable trading for users who complete its KYC process.  Blue Chip Stocks on Solana Solana will host tokenized stocks for a range of companies including Facebook, Apple, Google, Netflix, Nvidia, PayPal, Square, and Tesla. Digital Assets AG (DAAG) plans to list the 55 tokenized stocks on the Layer 1 blockchain platform. The Swiss firm provides free-floating stocks on exchanges like Binance and FTX, as well as on private blockchains. Free-floating tokens are regulated assets that represent the publicly issued supply of those shares. The securities prospectus of DAAG Tokenized Stocks is endorsed by the Financial Market Authority (FMA) of Liechtenstein, making the stocks valid in the European Economic Area. According to a press release shared with Crypto Briefing, FTX exchange will pilot trading DAAG’s stock tokens on Solana. Any users who complete the exchange’s KYC process and live in permitted jurisdictions will be able to trade the tokens. FTX is a leading supporter of Solana as a hub for next-generation DeFi applications. The exchange is run by Sam Bankman-Fried, who also owns Alameda Research, a trading firm that’s backed many projects in the blockchain’s ecosystem. Speaking of the launch, Bankman-Fried said: “DAAG’s tokenized stock infrastructure will help facilitate a paradigm shift in the underlying market structure, and we’re excited to continue working with Solana and DAAG to set the standard in this industry.” Anatoly Yakovenko, CEO of Solana Labs, added that DAAG was “primed to expand the financial technology that can be built on Solana, with DeFi products ready to support these new equity tokens.” Tokenized stocks are not new in the crypto world. FTX, Binance, and Bittrex Global enable trading of multiple stock and commodity tokens, but the tokens are not transferable across platforms. DAAG’s stock launch will allow for transfers to the secondary market, external apps, other Solana addresses, or applications, opening the gateway for access in DeFi applications. This news was brought to you by ANKR, our preferred DeFi Partner. Share this article The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information. You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities. See full terms and conditions. FTX Bets on Solana, Not Ethereum, for Its New Decentralized Exchange FTX is spearheading the launch of a new decentralized exchange (DEX) to kickstart a new DeFi ecosystem on the Solana blockchain. Touted as an “Ethereum Killer,” can Solana’s high throughput… Ren Bridge Adds Support for Bitcoin on Solana A tokenized version of Bitcoin is now available on Solana via Ren’s bridge.  Ren Integrates Solana  Ren has launched a bridge to Solana.  The project announced the integration Thursday, remarking… Polygon, Solana, DeFi on Grayscale’s Radar Grayscale is exploring 13 new cryptocurrencies as tentative investment offerings, including Polygon and Solana’s native tokens. Grayscale Considering 13 New Assets Grayscale is weighing up adding a new list of… What is Polygon (MATIC): Ethereum’s Internet of Blockchains In terms of both decentralized app (DApp) development and adoption, no blockchain has been more successful than Ethereum (ETH). But despite its relative success, the Ethereum network still contains several…

Key Takeaways Karura Network won the first parachain auction on Kusama. The second auction began today with Moonriver in the lead for second parachain slot. The downtrend in crypto markets has dragged KSM 52% lower this month. Share this article Karura Network, the testnet version of Acala, has won the first parachain auction on Kusama, backed by millions in community contributions.  Kusama Ends First Parachain Action  Karura is the testnet version of Acala, a DeFi app being built on Polkadot. The Karura network has now secured a 48-week lease to build on Polkadot’s testnet environment, Kusama.  Over 14,000 community members backed Karura’s bid with 500k KSM tokens, worth $95 million. The contributors will get Karura’s native token KAR in return.  Although, the present amount of total contributions to Kusama crowd loans is less than $100 million. In reality, investors have paid a lot more than that. A week before the auction, Karura raised 200,000 KSM tokens for $100 million, pushing its price to a peak of $514 on Jun. 10. The crowd loan for Karura and other projects began at the beginning of this month. KSM has dropped 52% since Jun. 1, last trading at $170. The downtrend in crypto markets and lack of demand after the initial crowd loans have dragged Kusama’s price below $200 this morning. Polkadot’s DOT is trading 42.8% lower. KSM Daily price chart. Source: Trading ViewParachain Auctions Explained The Kusama parachain actions, although expensive, are highly sought-after slots by the community and investors of the Polkadot ecosystem. Polkadot is a scalable layer-1 blockchain ecosystem for hosting decentralized applications. It is one of the leading competitors of Ethereum and also offers compatibility with existing decentralized applications on Ethereum.  The crowd loan participants are eligible for token airdrops at the time of launch. Currently, investors have to weigh the opportunity cost between investing early and the price drop in the current bear market. The Kusama parachain auctions will be conducted every week for the first five auctions and every two weeks after that. There are around 100 parachain slots available. Although, the projects have been raising KSM tokens via crowd loans for the slot auctions since the beginning of the year. The second parachain auction began today. Projects like Moonriver, Bifrost, and Khala Network are the lead contenders for the second slot.  Parachain Auctions on Polkadot are set to launch sometime later this year. This news was brought to you by ANKR, our preferred DeFi Partner. Share this article The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information. You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities. See full terms and conditions. After Solana, Tether Launches on Polkadot, Kusama Another two chains for Tether: USDT will soon be available on Polkadot and Kusama.  Tether Primed for Growth  Tether is preparing to launch on another two blockchains.  The Tether team… Karura Raises $100M, Kusama Soars Ahead of Parachain Auction Karura, an Acala sister project on Kusama, has raised more than $100 million in KSM as part of a crowd loan. The funds will be used to bid in Kusama’s… Polkadot Ready for Kusama Parachain Auctions Polkadot’s founder Gavin Wood has announced that parachain auctions on Kusama should take place from next week. First Parachain Auctions to Launch Parachain auctions on Polkadot’s canary network Kusama will… What is Polygon (MATIC): Ethereum’s Internet of Blockchains In terms of both decentralized app (DApp) development and adoption, no blockchain has been more successful than Ethereum (ETH). But despite its relative success, the Ethereum network still contains several…

Share this article A tokenized version of Bitcoin is now available on Solana via Ren’s bridge.  Ren Integrates Solana  Ren has launched a bridge to Solana.  The project announced the integration Thursday, remarking that “Solana brings a unique set of features to the Layer One space, along with a growing ecosystem and community.” Solana is a high-throughput Layer One blockchain that offers similar DeFi functionality to Ethereum. However, it processes transactions at a much higher speed and lower cost than the second-ranked blockchain. The ecosystem has grown at a rapid pace this year and the project has received a significant amount of attention: the blockchain’s native SOL token has climbed to 13th rank of all cryptocurrencies.  Ren, also known as RenVM, will bring more activity to Solana by offering a bridge to bring assets onto the network. It works by allowing users to mint tokenized versions of the asset they bring onto the bridge. It aims to achieve cross-chain interoperability, and it’s been particularly successful in offering a way to use Bitcoin in DeFi on Ethereum. It also integrated Polygon last month and partnered with Alameda Research to bring Solana-based assets to Ethereum’s DeFi network in February.  The Solana x RenVM bridge will initially support four assets: BTC, BCH, ZEC, and DOGE. It will later add DGB, LUNA, and FIL. The Ren-based versions of each asset will then be available to use on Solana.  In the blog post announcing the integration, Ren added that it would work “to ensure Ren-based assets are adopted throughout the Solana ecosystem,” making specific reference to projects like Serum, Mango, Oxygen, and Step Finance.  Perhaps the most notable development is Ren’s support for Bitcoin on the Layer 1 network. Tokenized versions of the original crypto asset are most frequently put to work in Ethereum’s DeFi ecosystem today, but that could soon change if Solana sees wider adoption.  Disclosure: At the time of writing, the author of this feature owned ETH, ETH2X-FLI, MATIC, and several other cryptocurrencies.  This news was brought to you by ANKR, our preferred DeFi Partner. Share this article The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information. You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities. See full terms and conditions. Ren Launches Polygon Bridge with Support for Bitcoin Ren has integrated Polygon.  Ren Unveils Polygon Bridge Ren has launched a bridge to Polygon.  The project announced the expansion Thursday, noting that Polygon is home to “a burgeoning DeFi… Ren Protocol Partners With Alameda to Bridge Solana Assets to DeFi Ren Protocol and Alameda Research have teamed up to bring more assets and liquidity to RenVM and integrate the widely-used Solana blockchain, bringing SOL assets to the DeFi space. Ren… What is Polygon (MATIC): Ethereum’s Internet of Blockchains In terms of both decentralized app (DApp) development and adoption, no blockchain has been more successful than Ethereum (ETH). But despite its relative success, the Ethereum network still contains several… Solana Closes $314 Million Funding Round Solana Labs has raised over $314 million in a funding round led by Andreessen Horowitz and Polychain Capital. Solana Announces Fundraiser Solana Labs has raised a nine-figure sum in a…

Share this article The original Doge moves onto Ethereum, selling for a seven-figure sum.  Bidding War for Doge NFT A Doge NFT just sold for $4,074,765.97.  The token featured the original viral image of Kabosu, a Shiba Inu dog that rose to Internet stardom back in 2010. A photo of the dog famously became a viral meme known as “Doge,” eventually inspiring the Dogecoin cryptocurrency that’s dominated news headlines and Elon Musk’s Twitter feed this year.  Kabosu’s owner, who uploaded the popular photo to her blog more than a decade ago, was responsible for tokenizing the image. Many other meme creators have had similar success stories with turning their Internet-famous images into NFTs in recent months.  That’s because NFTs, otherwise known as non-fungible tokens, offer a way for creators to assign ownership of an asset, whether that’s memes, digital art, music, or just about anything else. They allow creators to sell their work directly to fans in exchange for cryptocurrencies (as most NFTs live on Ethereum, they’re generally paid for with ETH).  The Doge NFT went on sale on Zora with the tagline “the original image that started it all.” Bidding heated up in the closing minutes of the auction, with PleasrDAO, a group formed to acquire pplpleasr’s Uniswap V3 NFT, placing a bid of 690.42042042042042042 ETH. Another user called twodollahotdoge followed up with a higher bid, before PleasrDAO reciprocated, leading a bidding war to ensue.  The auction was extended several times until PleasrDAO won with a final bid of 1,696.9 ETH. At today’s prices, that comes to $4,074,765.97. The hype for NFTs has somewhat slumped along with the rest of the market in recent weeks, with weekly sales way down on this time last month. Nonetheless, the most sought-after pieces are clearly still commanding eye-watering price tags; only yesterday, an Alien Punk from the iconic CryptoPunks series sold for a record-breaking $11.75 million at Sotheby’s.  Following the Doge sale, PleasrDAO took to Twitter to post a video celebrating the auction win. “Stay tuned,” a message on the clip read.  Disclosure: At the time of writing, the author of this feature owned ETH, ETH2X-FLI, and several other cryptocurrencies. Share this article The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information. You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities. See full terms and conditions. Rare CryptoPunks NFT Fetches $11.75M at Sotheby’s The NFT hype isn’t dead (at least not for CryptoPunks).  Sotheby’s Backs CryptoPunks Sotheby’s has sold a CryptoPunks NFT for $11,754,000.  Moments ago in our #London saleroom, an extremely rare… Dogecoin Soars 31.7% as Elon Musk Hints at “Efficiency” Improvemen… Dogecoin takes an upward jolt as Elon Musk draws attention to the currency yet again.  Dogecoin Jumps on Musk Tweet  Dogecoin jumped last night after Elon Musk posted a tweet… Uniswap V3 Video NFT Sells for $525,000 Following Uniswap’s V3 announcement, an NFT of the video teaser has sold for $525,000.  Uniswap V3 Video Gets Tokenized An NFT of Uniswap’s V3 video has fetched 310 ETH, around… What is Kusama? How Polkadot’s playground accommodates blockchain de… Kusama is relatively young and was founded in 2019 by Dr. Gavin Wood, who also founded the Web3 Foundation and co-founded Ethereum. The team behind Kusama is essentially the same…

Key Takeaways An Alien from the iconic CryptoPunks NFT series has sold for $11.75 million at Sotheby’s. The NFT was part of the auction house’s Natively Digital collection alongside pieces by Pak, XCOPY, and FVCKRENDER. Sotheby’s will sell five CryptoPunks in physical form later this month. Share this article The NFT hype isn’t dead (at least not for CryptoPunks).  Sotheby’s Backs CryptoPunks Sotheby’s has sold a CryptoPunk NFT for $11,754,000.  Moments ago in our #London saleroom, an extremely rare “Alien” CryptoPunk #7523 from the collection of @sillytuna sold for $11.8M as part of our #NativelyDigital NFT auction – setting a new world auction record for a single CryptoPunk. pic.twitter.com/PDVUSttI3o — Sotheby’s (@Sothebys) June 10, 2021 The piece was Punk 7523, one of nine Aliens in the canonical Larva Labs series. The eight-figure price tag makes it the most valuable Punk, far surpassing a $7.57 million record set by another Alien earlier this year.  The NFT was sold as part of Sotheby’s Natively Digital collection, which also featured works by cult crypto artists Pak, XCOPY, and FVCKRENDER (the collection also featured an Autoglyph, another sought-after LarvaLabs creation). Shalom Meckenzie, a shareholder at DraftKings, bought the piece. The previous owner was Sillytuna, an NFT enthusiast.  NFTs are non-fungible tokens, a type of asset that allows creators to tokenize digital art, music, or any other type of asset on the Internet. They offer a way to prove the ownership and scarcity of an asset, something that’s particularly powerful for digital artists who have previously struggled to sell their work. The NFT ecosystem of today largely exists on top of Ethereum.  The collection dropped amid a market-wide slump that also affected the NFT space. Bitcoin and Ethereum are both trading over 40% off record highs, while NFT tokens like NFTX and B20 have plummeted. The same goes for many NFT projects; NonFungible.com data shows that weekly sales across some of Ethereum’s favorite NFT projects peaked at about $176 million in early May, but the rapidly declined through the rest of the month. This week, sales are barely scraping $10 million (notably, that figure doesn’t include the Sotheby’s collection).  Still, CryptoPunks NFTs like the one sold at Sotheby’s are regarded as coveted pieces in Ethereum’s early history. Christie’s sold nine Punks last month. The current floor price for a Punk on the Larva Labs marketplace is 14 ETH, about $34,868. That’s a decline from the peak, but still well up from this time last year.  Following the sale, Sotheby’s announced that five additional CryptoPunks would go on sale later this month. Part of a collection of only 24 Punks issued in physical form, each NFT will come with a certified print signed by co-creator John Watkinson. Share this article The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information. You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities. See full terms and conditions. Christie’s $17 Million CryptoPunks Sale Sparks Criticism Nine rare CryptoPunks sold for $16.9 million at Christie’s last night as part of the art broker’s latest auction event. Rare CryptoPunks Fetch Eight Figures  The series of nine CryptoPunks… What is Kusama? How Polkadot’s playground accommodates blockchain de… Kusama is relatively young and was founded in 2019 by Dr. Gavin Wood, who also founded the Web3 Foundation and co-founded Ethereum. The team behind Kusama is essentially the same… Mystery Buyer Drops $900,000 on CryptoPunks Splurge An unknown buyer on Larva Labs sprung into action yesterday evening to purchase 19 CryptoPunks NFTs. They spent $897,000 in less than two hours. CryptoPunks Market Booming A mystery buyer… Beeple NFT Now World’s 3rd Most Expensive Auctioned Piece by Living … Digital art superstar: Beeple’s “Everydays: The First 5,000 Days” has sold for $69.34 million in a landmark moment for the NFT space.  Christie’s Hosts Landmark NFT Auction Beeple’s “Everydays: The…

Key Takeaways Polkadot founder Gavin Wood wrote in a blog post that Kusama is ready to host parachain slot auctions. Kusama will host parachains before auctions go live on Polkadot. The auctions will last for five weeks and determine which project gets to operate a parachain on the canary network. Share this article Polkadot’s founder Gavin Wood has announced that parachain auctions on Kusama should take place from next week. First Parachain Auctions to Launch Parachain auctions on Polkadot’s canary network Kusama will begin from Jun. 15, the project founder Gavin Wood wrote in a Tuesday blog post. Both Polkadot and Kusama are trying to create an interoperable network of 100 parachains plugged into a central Relay Chain. Kusama is an identical network to Polkadot except its role is to function as a test network and experiment with various technology features before they can be rolled out on Polkadot. Parachains will host different decentralized applications that can simultaneously interact with one another through the relay chain. Given each network can only have a maximum of 100 parachains, auctions will be used to determine which crypto projects get to run their parachains. Polkadot launched on mainnet over a year ago and is yet to launch a parachain. While the team has sent mixed signals about the auction schedule, the Polkadot community has been pushing for the auctions to begin as soon as possible. Now, Wood has confirmed, the team has finally reached the auction stage. Beginning Jun. 15, there will be auctions running weekly on Kusama for five consecutive weeks. While there will likely be hundreds of crypto projects that participate in Kusama parachain auctions, some of the notable teams include Acala, Darwinia, Equilibrium, HydraDX, Karura Network, Robonomics, and Moonbeam. As parachain auctions have never taken place before, they will first be organized on Kusama. For its role as the canary network, Kusama has already launched a parachain known as Statemine, whose logic is under audit. This is Kusama’s equivalent of the Polkadot’s Statemint, a common-good parachain that is scheduled to go live in the neat future. Wood said in the blog post: “As the technical team behind the initial runtime design and implementation, it is our belief that there are no longer any known technical blocking points stopping the auctions or parachain functionality.” Each auction will be organized for a week-long period, and bids will be placed in the network’s native currency, either KSM or DOT. The winner of a parachain slot auction will be decided based on a snapshot that is taken at a random time. Furthermore, to give themselves a fair chance of winning the auctions, teams building in the Polkadot ecosystem have planned on taking loans from their supporters in exchange for native parachain tokens, a process known as parachain loan offering. For the upcoming auctions, contributors will have to bond their KSM tokens in a smart contract for a minimum of six weeks. Contributors will only be rewarded if the crowd loan helps win the parachain slot auction. Before the auctions begin, projects striving to win slot auctions on Kusama, will ask contributors to lock KSM tokens within crowdloan contracts. Likewise, users can also participate in parachain auctions through centralized exchanges such as Kraken. Share this article The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information. You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities. See full terms and conditions. Polkadot Reworks Network to Solve “Free-Rider Problem” Polkadot is introducing governance-allocated parachain slots.  Polkadot’s “Free-Rider Problem” Polkadot has announced details of a governance process for allocating parachain slots.  In a blog post, the team outlined plans for… What is Polygon (MATIC): Ethereum’s Internet of Blockchains In terms of both decentralized app (DApp) development and adoption, no blockchain has been more successful than Ethereum (ETH). But despite its relative success, the Ethereum network still contains several… Voting For All: How Polkadot Can Improve On-Chain Governance The Polkadot Network is an ambitious blockchain project that is working to deliver blockchain interoperability. Broadly speaking, Polkadot will allow different blockchains to connect and communicate, which could resolve difficulties… What Is Polkadot? Introduction to DOT Polkadot is a blockchain protocol designed to support multiple chains within a single network. It aims to overcome a problem in the current blockchain landscape: hundreds of blockchains exist in…

Key Takeaways WBTC has reached a supply of 187,610 which is equivalent to roughly 1% of Bitcoin’s circulating supply. Of all the tokenized variants of BTC, WBTC has found the most traction among Bitcoin holders. Despite the advantages, WBTC carries some risk as tokenization exposes users to counterparty risk. Share this article The total number of wrapped Bitcoin on Ethereum has exceeded 1% of the total circulating Bitcoin supply, the team announced. This is being considered a major milestone for the tokenized Bitcoin project. Ethereum Becoming a Home For BTC Over 1% of the BTC supply has been wrapped into WBTC. WBTC was launched in Jan. 2019 as a collaboration between BitGo, Ren, and Kyber. It was one of the first projects to issue ERC-20 tokens that are 1:1 pegged to Bitcoin. There are currently more than 187,610 WBTC on Ethereum worth more than $6 billion, according to Etherscan. That’s about 1% of Bitcoin’s circulating supply of 18,729,837 tokens, the WBTC team announced. 1% of all BTC has been wrapped into $WBTC! https://t.co/jOi0LZZUyi — WBTC (@WrappedBTC) June 7, 2021 The statistics indicate that the asset has found the most traction of all tokenized versions of BTC. Since tokenizing Bitcoin enables the asset to function as an ERC-20 token, it can be used across various Ethereum-based DeFi protocols. Despite the advantages this brings to holders, WBTC does not come without perils. WBTC is not fully non-custodial. For every WBTC that exists on Ethereum, there is a Bitcoin that is held by a custodian, which is Bitgo. It is to be noted that WBTC can only be minted when holders have completed a KYC procedure. Tokenizing bitcoin through custodial methods exposes users to counterparty risk and trust issues. I continue to be worried about the fact that these wrapped BTC bridges are trusted….. I hope that they can all *at least* move to a decently sized multisig — vitalik.eth (@VitalikButerin) August 17, 2020 Furthermore, smart contracts that are used to mint new WBTC are secured by multisig wallets that fully depend on the good faith of the signatories. Even though it is a very small possibility, in theory, those who can sign the wallets could collude and confiscate the assets held in the contract. Despite the risks, WBTC continues to gain momentum. WBTC is a popular way to deploy Bitcoin as collateral for taking loans on Aave and can be allocated to a liquidity pool on automated market makers like Uniswap. Source: The BlockBesides WBTC, two others projects have found significant adoption by tokenizing Bitcoin. One of them is Huobi BTC, which has 37,906 tokens worth $1.2 billion. The other is RenBTC, with 10,247 tokens valued worth $337 million. Oher tokenized Bitcoin projects that have a smaller circulation on Ethereum include sBTC, imBTC, tBTC, oBTC, pBTC, and vBTC. This news was brought to you by ANKR, our preferred DeFi Partner. Share this article The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information. You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities. See full terms and conditions. Bitcoin Set to Join in on DeFi Hype with tBTC Launch tBTC, developed by Summa One and Keep Project, is live on Ethereum’s Ropsten testnet. The protocol aims to bring a price- and network-pegged version of BTC onto Ethereum and could… What is Kusama? How Polkadot’s playground accommodates blockchain de… Kusama is relatively young and was founded in 2019 by Dr. Gavin Wood, who also founded the Web3 Foundation and co-founded Ethereum. The team behind Kusama is essentially the same… WBTC: Wrapped Bitcoin Project Aims To Bridge BTC And Ethereum A gulf separates the Bitcoin (BTC) and Ethereum (ETH) networks. Although many investors hold both assets, they have so far been unable to use them together in any meaningful way…. Ren Launches Polygon Bridge with Support for Bitcoin Ren has integrated Polygon.  Ren Unveils Polygon Bridge Ren has launched a bridge to Polygon.  The project announced the expansion Thursday, noting that Polygon is home to “a burgeoning DeFi…

Key Takeaways Unslashed has now launched after closing its private beta. Unslashed is now protecting over $1 billion worth of capital across DeFi and CeFi. The project provides cover against a variety of risks including exchange hacks, smart contract failure, and stablecoins losing their pegs. Share this article Unslashed has launched. The decentralized insurance protocol is currently covering over $1.23 billion worth of value locked across DeFi and crypto exchanges. Protecting Investments with Unslashed  Unslashed, a popular decentralized insurance protocol on Ethereum, has launched. The project had been running a private beta, during which it provided cover for over $1.23 billion worth of digital assets. The protection was provided to assets locked in DeFi protocols and on centralized cryptocurrency exchanges; it offers protection for funds on Coinbase, Binance, Bitmex but also on Synthetix, Bancor, and Balancer pools. Unslashed is aiming to provide decentralized insurance cover both to individual and institutional funds. A recent report from Ciphertrace showed that more than $400 million were stolen, hacked, or otherwise lost both from DeFi protocols and hacked exchanges. These statistics are expected to continue rising as cryptocurrencies gain value and new investors, unaware of the risks, lose their funds. Risks like smart contract hacks, stablecoins losing their $1 value, exchange hacks, and oracle failures can be covered by Unslashed’s flexible coverage. Users can also stake their crypto assets on Unslashed in exchange for the insurance premiums, effectively creating a decentralized marketplace for risk. In a press release, Unslashed founder Marouane Hajji said: “Many cryptocurrency users are not aware of how different this space is compared to traditional finance. Though many centralized exchanges have insurance against hacks or theft, the funds kept in reserve are often only sufficient to cover a fraction of users who could be impacted, and so it is incumbent upon users to protect their assets. At Unslashed, we are pleased to launch our diverse offerings of insurance products covering centralized exchanges, DeFi protocols, stablecoin pegs, and more.” In Unslashed, capital providers and policy holders (those who request coverage) naturally create an insurance price based on their assessments of the risk of the protocol or exchange the funds are locked on. Capital providers will be able to invest in a diversified bucket to reduce their overall risks if a particular protocol is hacked. The decentralized insurance market has at least one other big player today. Unslashed’s main competitor is Nexus Mutual, which works like a mutual fund that provides cover to its members. The DeFi insurance field is likely to grow in the future as more sophisticated actors enter the space. There are plenty of signs to suggest institutions are dipping their toes into the technology. If they jump in en masse, that could be promising for projects like Unslashed. Disclaimer: The author held USF and several other cryptocurrencies at the time of writing. This news was brought to you by ANKR, our preferred DeFi Partner. Share this article The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information. You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities. See full terms and conditions. Nexus Mutual Unveils Insurance for Binance Smart Chain, Polkadot, Cosm… The Ethereum-native people-powered alternative to insurance, Nexus Mutual, is expanding its services to other chains. Nexus Mutual Follows the Money Using Nexus Mutual, users can share risk through a decentralized… What is Kusama? How Polkadot’s playground accommodates blockchain de… Kusama is relatively young and was founded in 2019 by Dr. Gavin Wood, who also founded the Web3 Foundation and co-founded Ethereum. The team behind Kusama is essentially the same… Cover Protocol Hacker Makes Off With Millions, Binance Halts Token Tra… A hacker has exploited a bug in the incentives smart contract of Cover Protocol. This has allowed the hacker to get away with 11,761 COVER tokens, worth $3.62 million at… Sam Bankman-Fried, Andre Cronje Rescue DeFi Insurance Protocol Like Sushiswap, leading players in the DeFi sector have taken over insurance protocol SAFE, which suffered a setback due to early dumping and the inexperience of developers. Making Peace to…