30 October

The digital dollar project, he said, is now moving beyond the proof-of-concept stage and closer to being ready for launch. However, the governor deflated expectations, saying he thought there isn’t a need for one “right now.”

Even so, Macklem shared concerns about being outpaced by other countries, adding his institution wants to make sure it’s prepared for a CBDC launch if it chooses to head in that direction.

If another country has [a CBDC] and we don’t, that could certainly create some problems. We certainly wouldn’t want to be surprised by some other country.”

“Users of the exchange are now able to register to trade on over 12 equity and cryptocurrency pairs via the platform’s fractional stocks offering in what FTX is calling a “first of its kind” product.

The additions mean users can begin trading high demand stocks like Tesla, Apple, and Amazon, represented by tokens, against bitcoin, stablecoins and more.

These products demonstrate a powerful future, in which assets are digitized and traders have unlimited creative potential to express their beliefs about the markets.

Traders in the U.S. and FTX’s other restricted jurisdictions will not be eligible to trade the products.”

Strapped for international currencies, Iran is turning to cryptocurrency to allow imports to continue to flow.

The country’s cabinet has amended recent legislation on digital assets to allow cryptocurrency to be used for import funding by the Central Bank of Iran (CBI). Miners will supply the cryptocurrency directly to the CBI within an authorized limit.

Cryptocurrency has become increasingly important in Iran as the nation suffers from economic woes brought by U.S. sanctions and the coronavirus pandemic.”

“A multi-step transaction was created and processed that began with a borrowing of synthetic Ether, which was then used as collateral to borrow $7 million worth of MKR tokens, which are used to vote on proposals. The newly-borrowed MKR was used to pass the vote and then returned to the markets from which they were lent.

It doesn’t appear that what occurred with Maker and B Protocol was malicious in nature. Still, as the post noted: ‘Their actions are a practical example for the community that flash loans can and may impact system governance.’

The post also outlined some more immediate steps to reduce the risk to Maker’s governance architecture. This includes extra time for MKR holders to react to a governance attack and disabling some functions for governance participants.”

Siam Commercial Bank, one of the largest commercial banks in Thailand, is making moves in the decentralized finance (DeFi) space. SCB 10X, the bank’s venture arm, is working with DeFi ecosystem Alpha Finance Lab to attract users to DeFi.

The company’s first DeFi product, Alpha Homora, is a protocol for leveraging an investor’s position in yield farming pools, and is currently live on the Ethereum blockchain.”

Should users who interacted with Uniswap through a third-party interface be entitled to the free UNI tokens other users received on Sept. 17?

That’s the question at the center of a dispute currently taking place in Uniswap governance channels. The second-ever proposal to come before the Uniswap community would distribute airdropped UNI tokens to another 12,619 addresses, ahead of a second proposal set for nearly 27,000 addresses.

As of this writing, over 20.7 million UNI have been voted in favor of the proposal and more than 714,000 have been voted against. The vote closes on Oct. 31.

While the vote may look extremely lopsided at the moment, the proposal will fail if less than 40 million UNI vote, establishing a quorum. The key obstacle to passage is probably reaching that threshold.

The decision is widely interesting enough to the crypto community that it’s inspired a betting market on Polymarket, which currently leans toward the pitch for further UNI distributions failing.”

“Average fees in bitcoin terms have increased by 573% in the past 12 days alongside the cryptocurrency’s price rally from $11,200 to $13,800. During that time frame, network congestion, as measured by the total number of unconfirmed transactions in the mempool, worsened by 1,800%.

As of Tuesday, there were 121,340 unconfirmed transactions in the mempool with a total block size of 66.8 MB. According to data source blockchain.com, that’s the highest level since the bull market frenzy of December 2018.

The recent slide in bitcoin’s hashrate looks to have played a big role in causing network congestion along with a general price-driven pickup in activity.”

“The new token called KP3R is for Cronje’s latest project called Keep3r Network which is a decentralized gig-style, smart contract powered marketplace for technical jobs.

With the release of the Keep3r Network v1 contracts a few hours ago, the project is now live. It’s designed to marry crypto projects with technical experts. KP3R tokens which will be issued as rewards for job completion.

According to Coingecko, the new token already has a market capitalization of $35 million.”

See Also: Aave transfers governance to token holders