“In a blog post summing up recent updates on the long road to Ethereum 2.0, Raul Jordan, an Ethereum 2.0 developer with Ethereum infrastructure builder Prysmatic Lab, said that should various security checks and user experience polishes take place, ‘November is still looking good for a launch from our perspective.'”
See Also: Eth2 Quick Update #16
See Also: Eth 2.0 Dev Update #56— “Road to Mainnet”
See Also: Simplifying Eth 2.0: Shards as data availability layers
“Ethereum users can now get exposure to a curated set of DeFi projects by buying one token, called DPI, available now on Uniswap.
The index will have 10 DeFi tokens: LEND, YFI, COMP, SNX, MKR, REN, KNC, LRC, BAL and REP. That order is arranged from the largest portion of the index (LEND at 18.3%) to the smallest (REP at 1.63%).
We want a way that people can get exposure to DeFi without having to go and buy every token individually.
DeFiPulse Index will represent real assets. That means a user could take the DPI token to Set and redeem it for the actual underlying assets. The index will be rebalanced from time to time, with the goal of moving to quarterly shifts eventually.”
“Uniswap now has more value locked (TVL) than its upstart rival, SushiSwap, less than a day after SUSHI block rewards for liquidity providers (LPs) dropped from 1,000 tokens to just 100.
TVL on SushiSwap fell from $1.46 billion worth of crypto assets on Saturday around 23:00 UTC to $885 million as of press time. Uniswap’s TVL has risen to nearly $955 million.
SushiSwap executed its planned slashing of block rewards from 1,000 to 100 SUSHI for liquidity providers (LPs) on Saturday following last week’s successful migration.
The drop suggests a significant number of LPs were primarily motivated by maximizing their SUSHI holdings rather than supporting an ostensibly more decentralized alternative.”
“Bitcoin and Ethereum will subsume the job of the monarch, prime minister, president, or dictator. The role of enforcing the social contract is now replaced by people running their nation’s respective software — the unstoppable code. The responsibility of enforcing the code is shattered into a million pieces and handed off to the people.
Throughout history, Leviathans have discovered mechanisms to formalize and protocolize their social contracts into concrete and well-defined laws. As the nation-state falls from favor, the migration of money is just the first exodus. After we migrate our money, we migrate our identities.
The whole point of these systems is that they turn the tragedy of the commons into the festival of the commons. Use and alignment with these Digital Nation adds value rather than consumes it; they get better with use.”
“The fair launch changes the most important dynamic within our ecosystem: that of the founder and the community. Up until now, this dynamic was largely determined by venture funds and investors.
A specific tension arises when a majority of the network is owned by parties whose fiduciary duty is to their source of capital—not to the network itself. Sometimes these interests are aligned, but make no mistake about who gets priority when the music stops.
With a fair launch, you have the ability to design a wide array of network bootstrapping and distribution approaches, which can ultimately result in a community dynamic where fiduciary duty and long-term network goals are one and the same. Choosing a fair launch provides an opportunity to decouple from a decaying dynamic and realign the interests of your most fundamental relationship.”
“The attack basically centered around the protocol’s interest-earning iToken that users receive and redeem for crypto deposited into lending pools. Kistner said the attacker exploited a bug that tricked bZx into minting unbacked iTokens subsequently exchanged for cryptocurrencies held in the pools.
The attacker managed to steal just under 220,000 LINK tokens, 4,507 ETH, 1.76 million USDT, 1.4 million USDC and 670,000 DAI. That’s much more than the $630,000 and $350,000 hacks the protocol suffered in February. The $8 million lost had already been debited by the protocol’s insurance fund.”
“The Swiss see the advantage in avoiding the kind of separate and competing currency pairs that have emerged with USD stablecoins like tether (USDT) and USDC.
SEBA Bank and Sygnum Bank, the two B2B players that hold banking licenses from the Swiss Financial Market Supervisory Authority and that specialize in digital assets, are both involved in stablecoin explorations, as is the country’s respected crypto conglomerate, Bitcoin Suisse.
Within the Crypto Valley and here in Switzerland, there’s a very good collaboration going on, where everyone’s working together to try to design a Swiss franc stablecoin which has more or less the same definition or is fully interoperable.”
“A new report by the Financial Action Task Force, or FATF, details a series of red flags that can help identify illicit activity involving cryptocurrencies. Among them are a general set of guidelines involving exchanges in jurisdictions with weaker regulations, where Binance is seemingly singled out for often moving to avoid stronger regulatory oversight.
The wording of the report suggests that FATF would consider any transaction with Binance and other exchanges incorporated in countries with “inadequate AML/CTF regulations” as a potential red flag.
Strict adherence to these rules could mean that fully regulated exchanges would be forced to ban direct transfers to any of these exchanges.”
“Presidential candidate Brock Pierce was served for his connection to alleged securities fraud during his campaign rally in New York City earlier today.
Pierce was served legal documents in connection with a class action case against Block.One — a company that Pierce co-founded. Block.One was the company behind EOS’ $4 billion initial coin offering.”
“This model isn’t going to work for most enterprise agreements. And even fancy tools like zero-knowledge proofs will not solve a bigger problem. How do you know if the oracle is being truthful if there is only one source of that information? Spoiler alert: You need an independent third-party for that.
While the multiple-redundancy model may work in many business cases, for a lot of enterprise agreements there is only one source of data.
I foresee a big future for these reports because they enable truly liquid commerce on blockchains. It should be possible for companies to attach attestation or SOC reporting links to digital tokens, showing which ones have been subjected to a form of verification.”
“Brian Armstrong, the CEO of Coinbase, alleges that Apple is stifling innovation in crypto and sidelining DeFi to protect itself from competition.
According to Armstrong, Apple has told Coinbase that it is prohibited from adding two specific functionalities to its iOS apps: the ability to earn money using cryptocurrency and access to decentralized finance (DeFi) apps.
Why would Apple want to prevent people from earning money during a recession? They seem to not be ok with it, if it uses cryptocurrency.”
For iOS users, Armstrong claimed, crypto apps lack features not because of developers’ inactivity but because those features are ‘being censored by Apple.‘
Coinbase is reportedly planning to submit a formal request to Apple to amend its App Store policies.“
“RGB ‘leverages the techniques and trade-offs of Lightning,’ in that assets will be transferred in the same way. Each RGB node will need to keep backup data of its entire state.
The long-term goal is to make RGB compatible with Lightning, but seeing as the project is still in beta this integration will be some time in the making before it is user-ready.
A more salient use case for RGB, according to Zucco, would come from issuing tether on the protocol. Since all transactions are handled off-chain, Zucco said RGB carries with it the promise to be possibly more private than even the Lightning Network.”