10 November

RocketPool is LIVE!

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Ethereum Name Service, a protocol that issues non-fungible tokens (NFT) that can represent Ethereum addresses as well as web domains, launched an airdrop portal for its newly issued ENS token last night. ENS NFT holders are currently eligible to claim tokens, with many users reporting allocations worth upwards of $20,000.

The token has been remarkably volatile in the roughly 12 hours since launching, sitting at $39.46 per ENS at the time of writing and up 119%. Traders and analysts are now speculating how high ENS can fly. A popular price target bandied about is $119. GoDaddy, the internet domain giant, currently has a market cap of $11.9 billion – at $119, ENS’s fully diluted valuation would exceed it, and an emerging narrative focuses on ENS as “the domain name of web3.”

Eligibility and allocation were determined using a formula that took into consideration both the amount of time an address held an ENS domain, as well as the duration of its future registration. The claims interface, the requirement to vote and delegate voting power prior to claiming tokens, and the smooth rollout have all been widely praised, and some have referred to it as among the most successful airdrops in crypto history.

ENS is for the people. No investors, decentralized and the community can now set the key parameters of the protocol. This is the essence of Web 3.”

See Also: DAO Backed by Deadmau5 to Launch on Multiple Platforms

Citron posted a screenshot of what appears to be Discord settings that allow users to connect to Ethereum, saying “probably nothing.” The screenshot also shows the option to connect using Ethereum wallet MetaMask.

Imagine a place…
-Built for gamers
-Home to everyone playing the Great Online Game
-Has 150 million MAUs
-Generates $130 million in revenue
-Is a web3 sleeper”

See Also: Reddit Co-Founder, Solana Ventures Launch $100M Initiative for Web 3 Social Media

Purpose Investments is preparing to launch two new crypto-based ETFs on the Toronto Stock Exchange on Tuesday, both of which offer investors a carbon offset.

The Toronto-based firm has partnered with Patch, a firm that will help it measure the carbon footprint of the crypto portfolios and offer carbon-removal solutions. Some of the projects it will invest in include direct air capture, biomass, mineralization or carbon dioxide removal, forestry, ocean fertilization and soil management.”

See Also: Brazil’s Largest Crypto Exchange Mercado Bitcoin to Issue 2 Renewable Energy Tokens: Report
See Also: Crypto sustainability and green solutions highlighted at COP26

Decentralized exchanges (DEX) have grown massively since 2019, while the number of active exchanges – whether centralized or decentralized – has dropped in the same time period. The findings showed the crypto market – especially large, sophisticated crypto traders – has favored exchanges with high innovation and scalability.

We see that DEX users carry out much larger transactions than centralized exchange users.

The centralized exchanges that continue to grow appear to be those offering the widest variety of assets, which keeps them attractive to the most active traders.”

“Ripple will launch a product called the “Ripple Liquidity Hub” to give business customers access to the BTC, ETH, LTC, ETC and BCH cryptocurrencies from a range of global exchanges, market makers and over-the-counter desks. The product will also include XRP.

The Ripple Liquidity Hub will use smart order routing to find digital assets at the best prices. Ripple plans to add features such as support for staking and yield generating functions and will explore getting liquidity from decentralized exchanges (DEXs). The first partner for the new service is Coinme, the payments and crypto ATM company that is now working with Walmart. The Ripple Liquidity Hub will go live in early 2022.”

The Swiss National Bank (SNB) says it will technically be ready to launch a wholesale central bank digital currency (wCBDC) in January of next year, using Switzerland’s newly licensed Six Digital Exchange (SDX). While it’s the retail-facing version of a CBDC that tends to grab most attention, the argument for wCBDC, designed to clear and settle wholesale payments, is compelling and less complicated to deploy in most cases.

The combination of digital cash and distributed ledger technology (DLT) – SDX is being built using R3′s permissioned Corda network – allows for “atomic settlement” where the transfer of one asset (a tokenized security, for example) is conditional on cash being transferred at the same time.

If you really want to benefit from all the functionalities that the DLT provides, you really need the means of payment on the DLT itself.”

See Also: Singapore’s Central Bank Is Laying the Foundations for a CBDC It Doesn’t Think Is Needed: Report
See Also: Bank of England and UK Treasury to Assess Case for a CBDC Next Year
See Also: Banque de France Calls for Further Examination of Wholesale CBDCs
See Also: Basel Committee to Review Proposed Capital Requirements for Banks With Crypto Assets

“CityCoin said it aims to support New York City and its protocol automatically allocates 30% of the funds spent to mine the tokens to a crypto wallet reserved for the municipal government or the Mayor’s Fund. The New York program follows a similar one in Miami that has generated some $20 million in less than three months.

We’re glad to welcome you to the global home of Web 3! We’re counting on tech and innovation to help drive our city forward.”