12 November

“China Construction Bank (CCB) has tapped Hong Kong-based digital asset exchange Fusang for the issuance of $3 billion worth of debt securities over a blockchain.

Notably, the digital securities will be exchangeable for bitcoin on the Fusang exchange, as well as U.S. dollars. Trading is slated to commence this Friday.”

See Also: World Economic Forum calls blockchain key to sustainable digital finance

“Announced Wednesday, LiquidStake, which is being launched by crypto trading firm DARMA Capital, will allow ether (ETH) stakers to take out USDC stablecoin loans against their staked assets while earning staking rewards from the new network.

Participants will not be able to ‘unstake’ those assets. So we’ve created LiquidStake, wherein users can earn staking rewards, and have their staked ETH be pledged as collateral to receive a USDC loan.

LiquidStake offers an ideal solution for ETH holders looking to stay liquid while staking.

LiquidStake is by no means the only attempt to solve this problem. Indeed, a taxonomy for liquid staking includes a number of smart contract protocols issuing tokenized claims on staked assets, such as Rocket Pool, Blox or StakerDAO.

In addition, U.S.-registered investment fund DARMA intends to allocate over $50 million worth of ETH to Ethereum’s new deposit contract.

One billion Dai in circulation is a huge milestone and a powerful validation that people around the world want more access, more transparency and more opportunity to maximize their economic potential.

MakerDAO was built to help people find a better, less biased and more transparent way to participate in the global financial system.

Maker currently has $2.3 billion in assets locked according to DeFi Pulse, making it the second biggest DeFi application on Ethereum, after Uniswap.”

See Also: DAI Stats

Uniswap’s current liquidity mining program is scheduled to end on Nov. 17, with the call set to discuss whether to extend the existing program or revise the scheme. The initial program allocated 5 million UNI for airdrop to liquidity providers in total, equal to 83,333 tokens daily.

Many believe the UNI airdrop and liquidity rewards program helped the exchange secure its position as the leading DEX in the face of numerous “vampire attacks.” However, the program may now have a negative impact on the price performance of Uniswap’s governance token — with the rewards program airdropping more than $260,000 worth of tokens daily.”

The cryptocurrency’s uptrend appears to have coincided with a meeting of high-ranking officials from China’s Hubei Province, VeChain and DNV GL Global, a global risk management firm, early last week. The meeting centered on the use of digital tools to revamp the public health system in the wake of COVID-19.

The new environment requires an innovative management model. VeChain’s blockchain technology can ensure the transparency, security, and credibility of all critical information, increase the cost of data fraud to infinitely high, and minimize the cost of supervision.”

“The Ethereum blockchain network suffered issues Wednesday morning, with knock-on effects at related service providers.

Those who haven’t been upgrading their Geth nodes for a while (I presume several months at least) got split with those with new Geth versions.

Third-party services need to upgrade to fix the issue.”

See Also: Ethereum withdraws / services were unavailable – Infura major outage (Video)
See Also: Ethereum’s ‘Unannounced Hard Fork’ Was Trying to Prevent the Very Disruption It Caused

“Crypto fund Polychain Capital has picked up a further 141 YFI—the token that powers Yearn Finance—in a move yesterday that expanded on its investment in the decentralized finance (DeFi) protocol.

The firm purchased 329 YFI just last week, and the token’s prices have jumped by more than 100% since then.”

See Also: Bitfinex to compete with DeFi with new borrowing service

“Dalio, who runs the world’s biggest hedge fund, Bridgewater Associates, said in the interview that he instead expects the world to increasingly turn to central bank digital currencies—such as a digitalized US dollar, euro or renminbi.

Theoretically, [Bitcoin] is good, but there are three basic things—a currency has to be an effective medium of exchange, a storehold of wealth, and the governments want to control it.

And they’ll [governments] use whatever teeth they have to enforce that, they’ll say you can’t transact a Bitcoin, you can’t have it. Then you’d have to be like, is it a felony, am I gonna be a felon? They outlawed gold.”

“Lyu said that the recovery process involved ‘on-chain tracking, contract upgrade and judicial recovery.‘ He also noted that the exchange will publish more details on reimbursement once the case is closed.

KuCoin has resumed full services for 176 tokens trading on its platform. He said that services for the remaining coins are scheduled to be reopened before Nov. 22.”

See Also: Cyberattackers Demand $11M in Bitcoin From Japanese Gaming Giant Capcom