“We’re nearing the end of a chapter and the beginning of the next — one driven by community ownership and governance,” noted Optimism.
Sushi and Synthetix get the boot in Grayscale DeFi fund rebalancing
Crypto asset management firm Grayscale has added three new crypto assets to its funds and has kicked SushiSwap and Synthetix from its DeFi Fund following its first quarterly rebalance.
Synthetix commence debt pool merger to enhance liquidity and staking capabilities
The merger of L1 and L2 debt pools is just one of a number of upgrades slated for this week within the Synthetix ecosystem.
Crypto founders top young Australian rich list
Seven of Australia’s 87 richest entrepreneurs aged 40 and under are crypto founders, according to the Australian Financial Review.
Major DeFi founders back play-to-earn game that hopes to be next Flappy Bird
A new blockchain based play to earn game called Fancy Birds hopes to emulate the success of the addictive mobile phenomenon Flappy Bird.
Beleaguered DeFi project xToken suffers second major exploit since May
xToken has been exploited for around $4.5 million following the latest attack targeting the DeFi protocol’s smart contracts.
Kraken Supports Ethereum 2.0 Clients Team Alongside Five DeFi Projects With A $250K Donation Each
Kraken and five other DeFi projects contribute $250,000 each to support the teams that work on the Ethereum upgrade. In addition, they donated the sum to the ETH Foundation to develop the network’s version 2.0.
Open-source developer teams like Erigon, Besu, Nimbus, Geth, and Nethermind will join the ETH Foundation in the donation.
1/ A diverse execution-layer client ecosystem is at the heart of all that we’re building together.
Today, we're excited to announce that @compoundgrants, @krakenfx, @LidoFinance, @synthetix_io, @graphprotocol & @Uniswap are donating $250K each to support #Ethereum client teams.
— Ethereum (@ethereum) August 24, 2021
The Ethereum Foundation announced the source of the donations. They mentioned that the tips came from crypto exchange Kraken, Synthetix, the Graph, Compound Grants, and Uniswap Grants.
Related Reading | Blockchain Startup In Pakistan Dubbed Bazaar Secures $30 Million In Funds
The donations will add to the funds the Foundation provided earlier back the layer teams of ETH execution.
The Funds Aim To Empower The Ethereum Team
The Foundation of what we build together incudes the various client ecosystem of Ethereum. It consists of the consensus layer clients and the execution layer; both are vital aspects of future Ethereum mergers. The announcement also reads:
“The donation sums up to $1.5 million and goes to open-source developer teams like Nimbus, Besu, Geth, Erigon, and Nethermind”.
The developer team is to make provision for the network’s critical infrastructure to see the transition of ETH. The ETH is to transit to proof-of-stake mechanism from a proof of work. An August 24th post on the Ethereum web page reads:
“In the heart of what we are developing together is a broad execution-layer client ecosystem. So today, we gladly announce that Kraken-fx, Uniswap, synthetix_io, graph-protocol, compound-grants, LidoFinance, and donates $250K each to support ETH 20 client teams.”
ETH is trading in a sideways momentum on the daily chart | Source: ETHUSD on TradingView.com
Jesse Powel, the co-founder and CEO of Kraken, says that the company is proud to give back to valiant builders who work hard on cutting-edge crypto innovation.
Kraken proposed that the exchange users would have staked up to 800,000 ETH in Eth2 by July. This is worth about $2.5 billion with current prices. The network platform had given out 25,300ETH as rewards emerging from staking when it started initially.
Related Reading | Kraken To Re-Enter The European Market By Applying For A New License
This project portrays an effort to ensure the security of Ethereum’s consistent growth and decentralization. Each of the elements is exemplified by the diversity of clients, our belief in Ethereum’s continued success, and the strength of the teams. The announcement revealed.
Etherscan Reports
The ETH Improvement Proposal (EIP) 1559 upgrade was launched early this month. It introduces a burning mechanism as an aspect of its regulated gas fee structure.
According to Etherscan data, about 4.85 ETH worth almost $15,300 are burned every minute as of writing. Over 70,000 Ethereum (ETH) has been burned or removed from the network’s circulation.
Etherscan is a Block Explorer and Analytics Platform for Ethereum, a decentralized smart contracts platform. As of August 12, 31,792.48 ETH has been burned via Etherscan, amounting to $99,871,306.11.
Featured image from Pixabay, chart from TradingView.com
Five DeFi projects and Kraken tip in $250K each to support Eth2 client teams
The Ethereum Foundation will pass the donations on to open-source developer teams including Besu, Erigon, Geth, Nimbus and Nethermind.
Synthetix turns on layer-two alpha, launches Olympics betting on options platform
Users of the Synthetix-based Thales platform can now bet on the outcome of Olympic events.
Thales raises $2.5M for binary options platform in Synthetix ecosystem
Binary options and sports betting will soon be launched on the Synthetix-based Thales platform.
Synthetix hits one-month high as SNX rallies 25% ahead of layer 2 exchange launch
The SNX/USD exchange reached $13.76 on Monday for the first time since June 3.
SNX hits multi-week highs as total value locked on Synthetix approaches $1 billion
However, SNX withdrawals from Synthetix pools picked up momentum during the price boom.
Optimism grows for layer-two scaling after Etherscan integration
Full blockchain data is now available for layer-two platform Optimistic Ethereum.
Finance Redefined: Fundamentals, not FUD! May 12-19
Synthetix launches THREE new tokens, and multiple projects tweak their tokenomics in this week’s Finance Redefined.
Coinbase Ventures, Paradigm Invest $12M in Synthetix DeFi Platform
Three prominent venture capitalist firms bought tokens directly from the DAO’s treasury.
Optimism ‘Soft Launches’ Ethereum Throughput Solution With DeFi’s Synthetix
A potential fix for Ethereum’s costly congestion problems.
Multiple Tokens See Rally Amid Looming ‘Altseason’
Bitcoin and ether may be pulling back from their all-time highs but alternative cryptos are starting to see action.
Terra Brings 24-Hour Trading to Synthetic Versions of Stocks Like TSLA and AAPL
The creators of the stablecoin platform Terra are launching Mirror Protocol, a way to mint crypto assets that mimic U.S. stocks.
Brent Crude Oil Futures Now Tradable on DeFi Exchange Synthetix
One of two global oil benchmarks, Brent Crude Futures are now available through DeFi exchange Synthetix.
Brent Crude Oil Futures Now Tradable on DeFi Exchange Synthetix
One of two global oil benchmarks, Brent Crude Futures are now available through DeFi exchange Synthetix.