“The chief innovation in this new version is what the company is calling “concentrated liquidity.” Concentrated liquidity makes the basic functionality of an AMM more efficient for all users. [It] allows a person lending funds to a pool, a liquidity provider, or LP, to define a band in which their deposits will trade.
This enhancement is why most people in DeFi agree the new version of Uniswap will lure more “whale” investors. It’s also a clever solution to the problem of “impermanent loss,” a persistent bugbear for liquidity providers to AMMs.
Bancor and THORChain provide insurance against impermanent loss. With Uniswap v3, however, a liquidity provider can simply not allow their deposits to be traded in ranges where an impermanent loss would occur.
The new version also allows depositors to define different fees for trading, which should make it more attractive to provide liquidity to less frequently traded tokens.“
See Also: Uniswap V3 Mainnet Launch! (Official)
See Also: DeFi More Disruptive to Banks Than Bitcoin, Says ING
“Right now there’s not a market regulator around these crypto exchanges and thus there’s really no protection around fraud or manipulation.
Gensler did not specify what regulations around crypto exchanges could look like.
His comments, which came in response to a question about digital assets from Rep. Patrick McHenry (R-N.C.), also touched on a proposed rulemaking for custody, which the SEC chair said he hopes will move forward.”
“Ether has rallied from $2,000 to record highs over $3,500 in the past 10 days. On Tuesday, a single high-net-worth trader or a group of traders bought 9,000 contracts of the $8,000 call expiring June 25. These block trades crossed the tape via the institution-focused, over-the-counter desk Paradigm and were booked on Deribit.
Increased demand for deep out-of-the-money call options is reflective of strong bullish sentiment.
According to analysts, the surge in demand now for the $8,000 call implies bullish price expectations potentially linked to the network upgrade known as EIP 1559 that would reduce the pace of the net issuance of ether.”
“Decentralized storage protocol Filecoin has announced a new free service called NFT.Storage, touting it as a future-proof method of preserving non-fungible tokens’ (NFTs) metadata and content off-chain.
Content addressing and distributed storage networks ensure that digital artwork, basketball cards, and virtual real estate are guaranteed to stay secure and available long-term.
However, Filecoin states that: ‘Data will continue to be persisted ad infinitum or until Protocol Labs decides to conclude the NFT.storage project.’
So while NFT.Storage offers an additional layer of security for NFT creators and owners, it’s not yet a foolproof solution.”
“The MakerDAO Foundation has returned 84,000 MKR tokens from its development fund to MakerDAO’s governance module, marking a milestone in the project’s path to decentralization.
With the return of the development fund and the completion of recent technical contributions to Maker’s liquidation engine and its DAO’s core unit framework, the foundation will now focus on working toward its own dissolution to further decentralize the protocol. The foundation is aiming to have dissolved by December 31, 2021.
The Foundation now turns inward to focus solely on its dissolution.
“Goldman Sachs is offering investors access to non-deliverable forwards (NDFs), a derivative tied to bitcoin’s price that pays out in cash.
The bank will then protect itself from volatility by buying and selling bitcoin futures in block trades through CME Group.”
“Nokia says it has designed a blockchain-based marketplace-as-a-service to facilitate the sharing of data and artificial intelligence (AI) models. The Nokia Data Marketplace is intendeds to provide enterprises and communication service providers (CSPs) with the ability to access trusted datasets and improve business decision making.
Nokia anticipates the marketplace will empower various vertical use cases, including electric vehicle charging, environmental data monetization, supply-chain automation and preventative maintenance.”
“A U.S. federal court has authorized the Internal Revenue Service (IRS) to begin serving a John Doe summons on cryptocurrency exchange Kraken and its subsidiaries in a bid to catch tax dodgers. The IRS is seeking the records of U.S. citizens who engaged in business with or through the exchange during the years between 2016 and 2020.
Kraken’s subsidiaries and its U.S.-based parent company Payward Ventures are being asked by the IRS to produce records identifying U.S. taxpayers who ‘may have failed to comply with internal revenue laws.'”
“Resorts World Las Vegas said it would be allowing customers to use their Gemini wallets “to enhance the integrated resort experience.” Tyler Winklevoss hinted that patrons would be able to convert fiat into crypto at the resort, meaning that some may have the ability to win at a casino game, then invest those funds into digital currency.
Major slot machine manufacturer International Game Technology received a patent earlier this year for a system that would enable gamblers to transfer crypto from their accounts into a ‘gaming establishment account.'”