20 July

“Stani Kulechov, founder and CEO of DeFi lending protocol Aave, said that users will be able to monetize the content they post and govern the rules of the network. With his new project, Kulechov hopes to solve problems he considers endemic to social media: a vulnerability to censorship and an exploitative pay structure that benefits platform creators rather than users.

We believe that content creators should own their audiences in a permissionless fashion, where anyone can build new user experiences by using the same on-chain social graph and data.”

We’ve onboarded over 300 projects onto Arbitrum One including many of the largest dApps deployed on Ethereum, and at this point we’ve offered access to every project that’s applied for deployment.

We remain committed to our goal of having an L2 ecosystem that is fairly launched and open to all. While many teams have already completed their deployments, there are a few commonly used infrastructure components and projects that are core dependencies for many dApps which are quite close but not yet live on Arbitrum One. We’re working closely coordinating with these projects, all of which are actively working and quite close.

It takes great coordination to stand up an entire ecosystem. We’re well underway in this process and are committed to a fair launch, and also a full and usable ecosystem launch, and critical to this is making sure core infrastructure dependencies are in place and popular tokens are bridged.”

“The President’s Working Group for Financial Markets, a presidential advisory group, plans to issue recommendations about stablecoin regulations within the next few months. The highly anticipated meeting examined stablecoin growth, use cases and possible threats.

The Secretary underscored the need to act quickly to ensure there is an appropriate U.S. regulatory framework in place.

The meeting came just days after Federal Reserve attorney Jeffery Zhang (writing in a personal capacity and not for the Fed) and Yale University economist Gary Gorton published a paper saying stablecoins could pose a systemic risk to the financial system. The paper likened stablecoins to the wildcat banks of the 1800s, pointing to a lack of insurance, the risk of bank runs and the chances of a stablecoin losing its peg when a user tries to redeem or spend it.”

See Also: Fed and Yale researchers lay out 2 regulatory frameworks for stablecoins
See Also: El Salvador May Issue Its Own Stablecoin: Report

Grayscale, the largest cryptocurrency investment manager, said Monday it has started a fund focused on decentralized finance (DeFi) tokens, based on a new DeFi-specific index produced by CoinDesk’s TradeBlock division. The idea is that investors can allocate money toward DeFi without having to buy the tokens directly.

The Grayscale DeFi Fund provides exposure to a selection of industry-leading DeFi protocols through a market-capitalization weighted portfolio.”

“The South China Morning Post (SCMP) has launched a non-fungible token (NFT) standard for recording historical records on the blockchain. The newspaper introduced “ARTIFACT,” a standardized model for recording accounts of history and historical assets on the blockchain as NFTs. The venture will harness “a few selected blockchains” the SCMP has yet to identify. The plan is for ARTIFACT to eventually be chain-agnostic.

The Post believes that factual accounts of history and authentic historical assets should be immutable, and that ownership of these digitised and tokenised assets, which are part of our collective human experience, should be decentralised.”

See Also: OpenSea Stores NFTs with IPFS and Filecoin

“On Sunday, difficulty fell by 4.8% at block 691,488, having declined by a record 28% on July 3. The difficulty rate now stands at an 18-month low of 13.67 trillion. That’s down 45% from the mid-May peak of 25.05 trillion. The network last recorded four consecutive declines in difficulty in 2011.

The dramatic decline in both the hashrate and difficulty could be a short-term phenomenon, as there is evidence that China-based miners shifting to the U.S. and Kazakhstan could soon become operational.

The last four adjustments have been downward, and it now looks like the blockchain is back to normal.”

Tianjin released China’s first blockchain-based carbon offset certificate, days after the world’s second-largest economy launched its national carbon market.

The offset is built using AntChain, fintech giant Ant Group’s enterprise blockchain platform. Blockchain can make the issuance, trading, and audit of carbon offsets transparent and traceable, according to the report.

China aims to achieve carbon neutrality by 2060, according to its latest Five-Year Plan. It is ramping up the use of green finance with green bonds and a national carbon market announced Friday.”