Blockbuster Weekly: Uniswap issued coins and distributed 10,000 yuan in "red envelopes"; Polkadot's aura, opportunities and challenges
2020.9.21 Issue 36
Keywords of this issue:
Uniswap issued coins, Uniswap locked positions exceeded 2.2 billion US dollars, Polkadot released a parachain road map, Uniswap started liquidity mining, Bitcoin anchor coins exceeded 100,000, what Nexus Mutual will do next, and why no one uses Layer2 , DeFi+NFT is gradually gaining momentum, Polkadot's opportunities and challenges, and India may ban cryptocurrency transactions.
1. India may introduce laws to ban cryptocurrency transactions
On September 15, it was reported that India will introduce a law banning cryptocurrency transactions. A bill banning cryptocurrency trading will be discussed in the cabinet, according to people familiar with the matter.
2. The European Union may issue a draft this month to formulate comprehensive regulations on encrypted assets in the 27 member states of the European Union
On September 16, according to CoinDesk, according to a leaked document, the European Commission (European Commission) will release a proposal later this month, proposing to develop a set of all digital currencies in the 27 member states of the European Union. Regulations governing the transaction or issuance of assets. It is reported that the draft of the European market for encrypted assets (MiCA) will provide legal certainty for encrypted assets (cryptocurrencies, security tokens and stable coins).
3. Polkadot releases a parachain roadmap that includes multiple stages
On September 16, Polkadot (DOT) released the parachain roadmap, which is divided into multiple stages. Compared with the previous stage, each stage represents another set of deliverables or black box components. iterate. Phase 0 is "MVP" and the initial phase, which is a parachain without slashing (full security) or cross-chain messaging. It's basically registering and verifying a functioning PoC. Phase 1 is "Phishing and Slashing", which marks the progress of parachain security. Once completed, parachains are full-fledged cryptoeconomically secure pooling primitives. This phase also includes implementation work on XCMP, but it is not fully enabled yet. Phase 2 is "Messaging", this phase marks the delivery of cross-chain messaging, including almost everything left over from the XCMP part.
4. Uniswap launched the governance token UNI: liquidity mining will start on September 18
On September 17, according to official news, Uniswap announced that its protocol governance token UNI has now been released on the Ethereum mainnet. 60% of the UNI genesis supply will be distributed to Uniswap community members, of which a quarter (15% of the total supply) has already been distributed to past users.
Early on, UNI was available through 4 liquidity mining pools, and after an initial 30-day governance grace period, UNI holders can vote to add more pools. The initial liquidity mining plan will start at 20:00 on September 18, 2020, Beijing time, and will last until 20:00 on November 17, 2020. It will support four pools on Uniswap v2: ETH/USDT, ETH /USDC, ETH/DAI, ETH/WBTC. Each pool will allocate 5,000,000 UNI to LPs in proportion to liquidity, roughly equivalent to: 83333.33 UNI per pool per day, and 54 UNI per pool per block. These UNIs are not subject to vesting or locking.
5. Ethereum miners earn nearly $1 million in one hour, a new record
On September 17, Glassnode data showed that with the release of the Uniswap protocol management token UNI, the total income of Ethereum miners hit a new record, reaching $938,000 within an hour.
6. Data: The issuance of Bitcoin-anchored coins on the Ethereum chain exceeded 100,000 pieces, a new high
On September 19, DeBank data showed that the issuance of Bitcoin-anchored coins on the Ethereum chain continued to rise, and has now exceeded 100,000, reaching 103,350, a record high. Included in the statistics include WBTC, renBTC, sBTC, imBTC, HBTC, BTC++, pBTC and tBTC. Among them, WBTC has the highest share, with a current circulation of 73,473, accounting for 71.09%, followed by renBTC, with a circulation of 20,266, accounting for 19.61%.
7. Uniswap's total lock-up volume broke the historical record of US$2.2 billion, boosting the total lock-up volume of DeFi to exceed US$11.3 billion
On September 21, DeBank data showed that the total lock-up value of the decentralized trading protocol Uniswap exceeded US$2.2 billion, setting a historical record. At the same time, the total lock-up volume of DeFi projects also broke the historical record of more than 11.35 billion US dollars.
The total locked-up volume (TVL) of Ethereum smart contracts is rising steadily, and the demand for smart contract insurance is also rising. Nexus in-force policies rose from $1.1 million at the start of the year to $45.3 million at the end of August. Now, it's close to $240 million. This article will take you through the latest trends in Nexus Mutual, a DeFi insurance star project.
2. Why are there so many Layer2 solutions, but no one uses them?
On-chain scaling is not a “new” problem. As early as 2017, Ethereum and Bitcoin were congested and unable to meet the needs of users. It was only the subsequent bear market that made people no longer pay attention to this issue. Until May of this year, with the popularity of liquidity mining and Uniswap, people discovered again: Gas price soared to 500 Gwei, and the number of unconfirmed transactions reached more than 140,000. Therefore, the issue of on-chain expansion has become a hot topic again.
The key word in 2020 is DeFi, and the next one, many people's answer is: NFT. What kind of sparks will DeFi+NFT collide with? Under the superimposed halo of the popular DeFi and the highly anticipated NFT in the future, which projects deserve our attention? This article takes you to understand.
4. Polkadot, the "King of Cross-chains", Halo, Opportunities and Challenges
Leading by the former CTO of Ethereum, the king of cross-chain, the blessing of Web3.0 Foundation, and the automatic upgrade of chain governance, when referring to Polkadot, these flashing labels will always come to life on paper. Gavin Wood and Web3.0 Foundation Under the leadership of our friends, the Polkadot ecology is becoming more and more sound, and the brilliant picture of a generation of "cross-chain kings" seems to be becoming clearer. But does this really mean that Polkadot already has the ability to "beat the audience"? This article takes you through the opportunities and challenges of Polkadot.
1. Uniswap issued coins and started liquidity mining
On September 17, the decentralized exchange Uniswap released the governance token UNI, with an initial minting volume of 1 billion pieces, 60% of which will be allocated to Uniswap community members, 21.51% to team members, and 17.80% to investors. 0.69% will be allocated to consultants. Among them, 15% (accounting for 15% of the total supply) allocated to community members has been allocated to historical users, and liquidity mining was started on the 18th. UNI tokens have the governance rights of the Uniswap protocol.
As of September 21, 180,000 users have claimed about 110 million UNI tokens. 78% of the users claimed 400 UNI tokens. After the release of UNI tokens, it was simultaneously listed on the three major and well-known exchanges such as Coinbase, and the highest price once touched a high of 7.8 US dollars.
Benefiting from the launch of liquidity mining, on September 22, Uniswap's total lock-up volume broke the historical record of US$2.2 billion, helping DeFi's total lock-up volume exceed US$11.3 billion.
2. The Yam Finance protocol was successfully migrated to version v3
Yam Finance is an experimental protocol that incorporates some innovations in programmable currency and governance. It has the characteristics of elastic supply2, fully driven by on-chain governance, fair distribution mechanism, and not assigned to teams. The initial target was set at $1 per YAM. According to statistics, less than an hour after Yam Finance started the distribution, liquidity miners deposited tokens worth $76 million into the project's pledge pool.
However, when Yam was in full swing, it was found that there was a loophole in the elastic supply adjustment contract, which would cause a large amount of additional YAM tokens to be minted during the elastic supply adjustment (rebase). Yam v1 failed to fix the loophole with the efforts of the team, and announced its failure on August 13. Then on August 23, the Yam team started the migration from YAM v1 to v2, starting the temporary governance period of v2.
Most recently, on September 15th, the YAM v3 protocol passed the PieDun audit, and the team announced that it would restart the audited Yam protocol on September 18 and migrate to YAM v3. Currently YAM v3 works well.
On September 15, Crust Network, a distributed cloud project based on Polkadot parachains, announced the completion of its A round of financing. Investors mainly include NGC Ventures, AU21 Capital, Bitscale Capital, Chain Capital, DFG, HashCIB, IOSG, KR1, KNS Group, Lotus Capital, Origin Capital, SNZ, Bisheng Capital, Consensus Lab, Waterdrop Capital, and Taihe Capital, etc., the seed round strategic investor Chengdu Wuji Chain Technology continued to invest.
2. Gelato Network, an automatic execution tool for Ethereum, completed a $1.2 million seed round of financing led by IOSG Ventures and Galaxy Digital
On September 15th, Gelato Network, an automatic execution tool for Ethereum smart contracts, completed a $1.2 million seed round of financing. This round of financing was led by investment institutions IOSG Ventures and Galaxy Digital. In 2015, the original Ethereum Decentralized Organization (DAO) was created. Members Christoph Jentzsch, D1 Ventures, MetaCartel Ventures, a decentralized autonomous investment institution, and The LAO, a compliance DAO project, participated in the investment. The funds will be used to develop its network infrastructure and establish a decentralized autonomous organization.
The main network of Gelato Network has been launched, which allows developers to automatically execute user transactions without running any underlying server infrastructure. The design goal of Gelato Network is to incentivize an open and decentralized network repeater to automate smart contract execution and resist censorship.
3. BitWell completed US$30 million in financing, Ceyuan Digital Fund, HashKey, and Weihun Capital participated in the investment
On September 16th, BitWell, a digital asset derivatives service platform, announced that it has received a strategic investment of US$30 million. Investors in this round of financing include Ceyuan Digital Fund, Dragonfly, Weihun Capital, NGC Ventures, SNZ, HashKey, Youbi Capital, Global top institutions such as Hash Global, LinkVC, Collin Capital, Zhongfu Investment, Zhizhen Capital, Red Chain Capital, and Shuaichu individual investors.
4. Zenlink, Polkadot’s cross-chain DEX protocol, received $1.1 million in angel round financing led by HashKey
On September 17th, Polkadot’s cross-chain DEX protocol Zenlink announced that it has received US$1.1 million in angel round financing led by HashKey, followed by Continue Capital, IOSG Ventures, D1 Ventures, and Youbi Capital.
Zenlink is committed to building a new generation of cross-chain DEX network. By integrating the Zenlink DEX Module, Zenlink can enable parachains to quickly have DEX capabilities and share liquidity with other parachains. In addition, the Zenlink DEX aggregator can link all DEX DApps on Polkadot.
5. ParaSwap, a decentralized transaction aggregation platform, completed a seed round of financing of 2.7 million US dollars, and CoinGecko participated in the investment
According to news on September 17, ParaSwap, a decentralized transaction aggregation platform headquartered in France, completed a seed round of financing of US$2.7 million. Investors include encrypted information platform CoinGecko, Blockchain Capital, Aave founder Stani Kulechov, etc. ParaSwap said it will use the funding round to expand its infrastructure.
ParaSwap launched the Multi Path 2.0 version in May this year. The new version supports the conversion of cETH into aDAI in one transaction, allowing users to convert token profits into DAI to earn interest, and to purchase tokens at the best price in one transaction.
6. Bitcoin options trading app PowerTrade raises $4.7 million, led by Pantera Capital
According to news on September 18, PowerTrade, a bitcoin options trading application to be launched this year, raised $4.7 million through a token sale. This round of financing was led by Pantera Capital, followed by institutions such as Framework Ventures, CMS Holdings, and QCP Capital. In addition, Synthetix founder Kain Warwick, Kyber Network's Loi Luu and CoinGecko's Bobby Ong also participated in the round.
PowerTrade, co-founded in May by former Liquid CTO Mario Gomez Lozada and several technologists and cryptocurrency veterans, plans to enter closed beta in October and launch publicly in Q4 2020
7. Polkadot-based DEX Polkastarter received $875,000 in seed and private equity round financing from NGC and others
According to news on September 20, Polkadot-based DEX Polkastarter received $875,000 in seed and private equity financing from NGC Ventures, Moonrock Capital, Signum Capital, and Astronaut Capital. The oversubscription round attracted over $20 million in interest.
Disclaimer: The Blockchain Institute is organized based on public information and does not represent the position of the Blockchain Institute (official account), nor does it constitute any investment opinion or suggestion.
"BLOCKER WEEKLY" is a cutting-edge reading of the blockchain industry carefully crafted by the Blockchain Research Institute. It selects a week's hot spots and cutting-edge views for blockchain enthusiasts. If you have good comments and suggestions, please leave a message in the comments below.
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Disclaimer: The Blockchain Institute is organized based on public information and does not represent the position of the Blockchain Institute (official account), nor does it constitute any investment opinion or suggestion.
