“Layer-2 Ethereum scaling solution, Polygon (MATIC) has announced the establishment of Polygon ID, an identity platform designed to complement the decentralized finance and decentralized application (DApp) economies by providing users greater privacy and sovereignty within Web3.
Professed to be the first identity platform of its kind to adopt cryptographic-based zero-knowledge technology, the platform will utilize Iden3’s Circom ZK toolkit, including zk-SNARK cryptography for the generation and the zk-Proof Request Language protocol to verify the authenticity of the proposed claim.
Users of the platform can provide proof of their identity when engaging in activities such as initial coin offerings, token airdrops, decentralized exchange (DEX) trading, or those in which strict Know Your Customer (KYC) requirements apply.
With the capacity to introduce a Sybil-resistant one-vote-per-person mechanism, the use-cases can also expand beyond the DeFi sector, to the metaverse, gamify and nonfungible token (NFT) industries whereby asset authenticity is verified via on-chain, privatized claims.
The team is expecting to deploy the public version of the ID wallet app during Q2 of 2022, alongside features such as ‘Claims Issuance, Private Authentication, zk-Proof Generation and Verification.‘”
“Starting with iPhone users, MetaMask is adding integrations with payment gateways on its mobile wallet to increase options for buying crypto.
MetaMask uses two payment gateways Wyre and Transak to support debit card and credit card transactions. Users can now use their Visas and Mastercards stored in Apple Pay to buy ETH and deposit a daily maximum of $400 into their wallets.
Via Transak, it‘s possible to buy the stablecoins Tether (USDT), USD Coin (USDC) and Dai (DAI) on the Ethereum mainnet in MetaMask. The latest update allows users to make bank transfers and use credit/debit cards to buy crypto using over 60 global currencies.”
“Ethereum’s staking derivatives offer many of the qualities institutions look for in investments. While traders have been excited at the forthcoming ETH supply shock for years (not to mention the beefier staking returns, which by some estimates might exceed 10%), institutions are starting to get the message as well.
In March, staking services provider Staked introduced a staked ETH trust aiming for 8% returns. Likewise, in June, Switzerland-based Sygnum Bank introduced institutional staking services for its clients. Even Goldman Sachs is getting in on the action.
The crypto market can be intimidating for institutional investors because it so rarely seems tethered to any fundamentals – the mess of dogcoins, memecoins and outright scams would put off any self-respecting suit. But trackable returns, provable scarcity and technological infrastructure – these are qualities an investment desk can appreciate.
Over 10 million ETH worth $34 billion is currently staked in the ETH 2.0 contract. As the buzz approaching the Merge grows louder, we expect to see more headlines about major financial entities getting involved as well.”
“We are committed to ensuring that all of the drained funds are recovered or reimbursed, and we are continuing conversations with our stakeholders to determine the best course of action.
The stolen funds included the deposits of players and speculators, plus revenue from the Axie Infinity Treasury. AXS is down 7% over the last 24 hours and has declined over 20% since the announcement of the hack.”
See Also: So You’ve Stolen $600M. Now What?