29 September

“Ernst & Young said its OpsChain Network Procurement platform is designed to enable companies to run private end-to-end procurement activities. The platform utilizes open-source software including the Microsoft-backed Baseline Protocol and operates on the public Ethereum blockchain.

It aims to move business processes outside of any one ERP system to a shared blockchain-based smart contract. Switching to a blockchain-based solution has cut down ERP cycle times by more than 90% and reduced costs by up to 40%. Companies can now plug into EY’s beta platform.”

“The STOXX Europe 50 includes 50 stocks from 18 European countries and provides a blue-chip representation of supersector leaders in the region. Meanwhile, the German 30 or DAX 30 is a stock index that represents 30 of the largest and most liquid German companies that trade on the Frankfurt Exchange.

Each contract offers up to 100x leverage and will be settled in stablecoin tether (USDT). The perpetual contracts will be open for trading 24/7, unlike equity exchanges which are open for business for a limited number of hours, five days a week.

This is the first time that an exchange from the digital asset space has launched a product that bridges the gap with traditional stock markets, representing a significant milestone in the evolution of crypto.”

“Uniswap clocked the record figure just after midnight (UTC) Monday and currently has $2.06 billion worth of crypto assets locked. The next biggest DeFi project, peer-to-peer lending platform Maker, trails slightly behind Uniswap at $1.96 billion TVL.

As of press time, there’s now more than $11 billion in TVL in DeFi, with Uniswap making up approximately 18% of that.”

Designed as a decentralized alternative to Amazon Web Services or Cloudflare, a data retrieval service, Filecoin mainnet will launch at block 148,888, currently expected on Oct. 15.

More than 400 miners from around the world participated in this month’s “Space Race” testnet phase where network data capacity increased by more than 325+ pebibytes – seven times the entire written works of mankind, in all languages.”

“In early 2020, we announced that ConsenSys would be separating our investment and portfolio management activities from our software business. The result is a new organization called ConsenSys Mesh, a complementary entity to the independent ConsenSys software business.

It’s where we are building decentralized identity solutions and driving technical ecosystem development. Mesh operates as a network of developers, researchers, founders, investors, and communities dedicated to advancing Ethereum and other decentralized protocols, pushing the limits of technology in ways we cannot yet imagine.

Mesh allows us to focus on exploring the innovative terrain beyond our software business. This model honors our roots as a venture studio and will maintain the spirit of uninhibited discovery that made ConsenSys what it is today. It is a space to create value for Ethereum and accelerate its lead as the most active, decentralized, and sophisticated blockchain network on the planet.”

The excitement in DeFi has shifted to the NFT market, with something like a Weird DeFi moment getting ever weirder, as groups form up to mint rare digital artifacts to be attained in unique ways and financialize their ownership.

Ever since Napster, ownership and rights of digitally distributed intellectual property has been a problem. ‘It’s hard to own that media, but you can do it pretty cleanly using tokens.’

There has been years of fertilizer but somehow the excitement engendered this summer by yield farming has come to NFTs this fall, and so the harvest is ready.

And here’s how Yearn could have helped: When the DeFi gateway created Y.Insure, a way to do KYC-free insurance on any crypto asset, it used NFTs to represent the policy with insurers.

NFTs are actually a financial asset class and they need financial infrastructure.

DeFi and NFTs merging to create weird new forms of yield get the imaginations of investors and BUIDLers firing.

Aavegotchi is a small startup with funding from the money market Aave. Aavegotchis are little playable avatars that can be used in the game world the company is building, both as protocol governance and to play actual games.

What’s really interesting about Aavegotchi, however, is this: Every character represents a real stake on Aave. The owner can liquidate the stake at any time, but their Aavegotchi will disappear. So it’s a test to see what happens to playability when characters have real value above and beyond their gaming value.”

“The land of the dollar is in trouble. The full economic repercussions of shutting down an economy for many months are yet to reach its apex. Debt is being monetized on a huge scale. There are huge wealth divides between generations, races and cities.

Traditional markets have mature financial products to hedge or flee such tectonic shifts. There are plenty of other world currencies or other non-USD denominated assets to transfer funds into should the dollar take a serious tumble.

Crypto lacks those same products. Despite Web 3.0’s aim to be both global in reach, and also free of the control of nation states, its fate is still incredibly tied to USD.

Originally, dai was meant to be pegged to the International Monetary Fund’s Special Drawing Right (SDR), which the IMF derives by bundling and carefully weighting five major currencies including the yuan, euro, British pound and the yen. But, Conti said, ‘USD was chosen in the end because people think in dollars, not SDR.’

The protocol is capable of changing its peg to follow another currency if needed. Having a DollarDai spin-off and then slowly make the underlying dai drift to an existing or new basket of currencies.”

“On September 25, OpenBazaar announced that their platform would likely shut down due to financial difficulties, stating that user growth and adoption had stalled.

A mysterious donor has since agreed to cover the cost of the marketplace’s operations through the end of the year.”