19 May

“Uniswap V2, the second iteration of the Uniswap protocol, has been deployed to the Ethereum mainnet!

An audit report and formal verification has already been released and the Uniswap V2 Bug Bounty has been running for over a month. Developers can begin building on Uniswap V2 immediately!

Uniswap V2 has many new features and technical improvements compared with Uniswap V1 including:

  • ERC20 / ERC20 Pairs
  • Price Oracles
  • Flash Swaps

See Also: Uniswap Exchange
See Also: Uniswap Analytics

“Synthetix is putting over $40,000 in crypto on the line to entice users to try out the faster beta of its decentralized exchange (DEX). But the real reason traders might be interested over time is because this project could demo a world where DEXs become feasible at scale.

Synthetix’s beta relies on a deployment of the Optimistic Virtual Machine (OVM) from Optimism, the company behind the latest scaling and usability solution for Ethereum. Synthetix teamed with Optimism to create a DEX that could be competitive in terms of speed with traditional crypto exchanges.

I think optimistic rollup is the first Ethereum layer 2 solution that checks all the boxes for DeFi.”

Argent Launches V1 Smart Wallet

Argent Launches V1

“Argent is now the easiest way to access DeFi, starting with TokenSets, PoolTogether, Aave, Uniswap V2 liquidity pools, Compound, Maker and Kyber. Earn interest and invest; borrow, store and send. No seed phrase. No gas.

Non-custodial no longer means no safety net. With Argent you can lock and unlock, approve large transfers and automatically block anything above your daily limit.

See Also: Argent

“Put simply, it provides best trade execution. An AI platform plugs into a network of exchanges and dark pools, providing the best available prices and minimal slippage. The idea, explains the firm’s website, is to provide the base trading layer that mainstream financial institutions need to delve into the digital asset class.

The platform provides a solution to wash trading, where exchanges or crypto projects trade against themselves to inflate volumes, drive up prices and dump assets on unsuspecting investors. It’s a known problem in crypto.

Wash trading is a pain-point with our institutional clientele and systemic data misreporting precludes mainstream institutions from touching the space.”

See Also: Bakkt Announces New Insurance Coverage, Claims More Than 70 Custody Clients

Ethereum’s premier coin mixing service is now permissionless.

Tornado Cash, a privacy tool for obfuscating the history of Ether (ETH) transactions, completed a cryptographic process known as a trusted setup ceremony on May 10. The MPC and Monday’s contract update effectively break up the developer key by creating a crowdsourced smart contract without a private key. 

The ceremony, relying on a cryptographic method known as multi-party computation (MPC), makes Tornado Cash “completely trustless and unstoppable.”

How To: Eth2 Staking via Rocketpool

Within days of launching Reddit’s Ethereum-based Community Points rewards system has seen more than 10,000 addresses created. Perhaps surprisingly, over 80% of wallets created on the testnet so far represent the Fortnight community.

8,666 wallets have been created to hold r/fortnightBR’s Bricks, while just 2,073 Redditors have embraced r/cryptocurrency’s Moons. 2,295 transactions have been executed by Moon wallets, while Brick wallets have produced 9,584.”

From April 11 until May 14, Bitcoin (BTC) transaction fees increased by more than 1,250% from $0.38 to $5.16. Fees are up by more than one-third since the halving, which precipitated an increase in transaction costs of 105% over three days.”

See Also: Bitcoin Demand Pushes Tether Below $1 for Longest Stretch Since March
See Also: Andreessen Horowitz Forecasts Fourth Crypto Bull Cycle

“Blockchain venture studio Thesis has put a pause on deposits into tBTC, its new platform meant to put BTC on Ethereum so BTC can be used in decentralized finance (DeFi).

The Thesis team cited a bug, but is not disclosing details until all funds have been safely withdrawn from this iteration of tBTC. Luongo said the priority now was to further enhance the security of the system before announcing a timeline to re-deploy it.

While the tBTC dapp was being tested over the weekend in its alpha version an issue in the dapp that was missed by our security audit was found by two of our contributors, and we decided to pause deposits for now to ensure the safety of funds.”

“The plaintiff accuses BitMEX’s parent company, HDR Global Trading, and the exchange’s top executives — Arthur Hayes, Ben Delo and Samuel Reed — of engaging in or abetting multiple crimes that include racketeering, money laundering, wire fraud and operating an unlicensed money transmitting business.

The document claims that BitMEX weaponizes deliberate server freezes and uses fraudulent “system overload” events to accept or reject specific trading orders during volatile market conditions in order to exacerbate price fluctuations and trigger maximum liquidations. The lawsuit further points to the defendants’ own admission that the exchange operates its own for-profit trading desk, which purportedly trades against BitMEX’s own customers on the platform.

“Visa head of crypto Cuy Sheffield tweeted on May 18 that he does not believe central banks are interested in providing a central bank digital currency (CBDC) directly to consumers.

If a central bank decides to offer a digital wallet directly to consumers then by default CBDC and the central bank would have to become a household brand but this approach seems unlikely to be taken seriously by most major central banks.”

See Also: Austrian Bank Raiffeisen Works on National Digital Currency Pilot
See Also: Japan’s Top Credit Card Issuer Building Blockchain Payment System

“Free TON, a decentralized blockchain network derived from Telegram’s TON blockchain, is launching the first community contests to power its network. Starting Monday, users, developers and validators are invited to participate in three separate contests, with Free TON planning to distribute thousands of TON Crystals, or Tons, as rewards.

Free TON contests are the only way to receive TON Crystals for now, which means that Tons can only be distributed among those who have contributed to the network.

There are more than five billion TON Crystal tokens, with 85% of them planned to be distributed to Free TON partners and users and 10% going to developers. The remaining 5% is bound for the community’s validators.”