🚂 Push to Launch Layer 2 Liquidity Mining on Uniswap Gains Steam
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NEWS A Uniswap community member has called for the decentralized exchange (DEX) to launch a liquidity mining program and incentivize users to migrate to its Layer 2 deployments on Arbitrum and Optimism.
SECOND STAGE On Dec. 1, Hop Protocol’s growth lead “zkLito” announced they had submitted a detailed proposal for L2 liquidity incentives for Uniswap’s second stage of governance. Their previous proposal had passed an initial temperature check in Uniswap’s governance forum last month.
KICKSTART zkLito describes the proposal as both seeking to entice “deep liquidity for key pairs on L2,” and more importantly to “kickstart L2 adoption by incentivizing users to bridge and shift their DeFi activity to L2s.”
DECADES How would building design change if architects didn’t have to think about them lasting for decades? Or if the structure and layout could change with a few mouseclicks?
VIRTUAL BUILDINGS That’s the opportunity architects can seize in the metaverse. Most architects would probably say that isn’t appealing at all, because they undertook the discipline to design structures people would experience for a very long time, but for Kirk Finkel, better known as Untitled, XYZ, a full time Web3 architect, it’s inspiring to work with virtual buildings that are iterative to a degree that can’t even be fathomed in the physical world.
100 YEARS “There’s a different relationship because it’s not there for 100 years,” he told The Defiant in a phone call from his analog space in Brooklyn. “The visual language of the building can change so quickly.”
ROADMAP The Ethereum community is celebrating the first anniversary of the Ethereum 2.0 Beacon Chain, which set the network’s roadmap toward Eth2 into motion with its launch on Dec. 1, 2020.
LOCKED UP According to data aggregator Staking Rewards, Ethereum 2.0 is now the second-largest proof-of-stake network by staked capitalization with $38.4B locked up. While Solana currently leads with nearly $88.2B, 77.4% of SOL’s supply is locked in staking compared to just 7.10% of Ether.
LAUNCH Many analysts believe it’s only a matter of time until Ethereum ascends to the top spot. Ethereum’s upcoming chain-merge is expected to increase staking rewards by several multiples. Since the Beacon Chain’s launch last year, Ethereum has completed several major upgrades in its Eth2 roadmap and shift from proof-of-stake consensus.
NEWS U.S. Treasury Secretary Janet Yellen said non-custodial protocols will not be subjected to stringent reporting obligations in line with updated guidance concerning crypto assets from the Financial Action Task Force (FATF), an intergovernmental organization that sets anti-money laundering guidelines for dozens of nations.
STANDARDS FATF finalized its updated guidance in late October calling on nations to subject DeFi protocols to anti-money laundering standards, including the collection and sharing of detailed information relating to transactional counterparties.
VASPS “Creators, owners and operators or some other persons who maintain control or sufficient influence in the DeFi arrangements, even if those arrangements seem decentralized, may fall under the FATF definition of a [Virtual Asset Provider (VASP)] where they are providing or actively facilitating VASP services,” the guidance reads.
📺 First Look: What is Protocol Owned Governance? | First Look into Lobis - approved fork of OlympusDAO
Galaxy Digital, the crypto financial services company founded by Mike Novogratz, is seeking to raise $500m in the debt market as digital asset companies race to tap investor enthusiasm surrounding the rapidly growing industry.
Dear Bankless Nation, It’s December. Almost the end of the year. Is anyone else going “OMG what about my taxes?”
Four blockchain-based Metaverse projects generated more than $100 million worth of virtual land NFT sales last week according to data from DappRadar.
The multi-chain market has arrived. Thanks to years of research, open source development, and the learn-in-public ethos of crypto developer ecosystems, we now find ourselves in the midst of heterogeneous L1 blockchains and L2 scaling solutions, each with its own scaling capabilities and design trade-offs.
Square is renaming itself Block as it focuses on technologies such as blockchain and expands beyond its original credit card-reader business.
This is the Crypto Advocacy & Education Summit, which we're hosting to go along with the Ethereum Foundation's $500,000 donation to the Gitcoin Round 12 matching round for the ‘Crypto Advocacy’ track.
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Surging Ether Hits 42-month High Against BTC Ethereum has made another leg up against Bitcoin, with the ETH/BTC chart tagging its highest level since May 2018.
Tutorial: The Degen Savings Portfolio Featuring Abracadabra, Curve and Convex Curve is now the largest DeFi protocol with $22B in Total Value Locked across seven blockchains.
CloneX NFTs Sell Out in Auction Roiled by Attacks and Controversy On Nov. 29, RTFKT Studios was all set to begin the public sale of its CloneX avatars. Then the attacks on its website started.
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🧑💻 ✍️ Stories in The Defiant are written by Brady Dale, Owen Fernau, Samuel Haig, DeFiDad, and yyctrader, and edited by Edward Robinson, yyctrader, and Camila Russo. Videos are produced by Robin Schmidt, Alp Gasimov and Daniel Flynn. Podcast is led by Camila, edited by Alp.
The Defiant is a daily newsletter focusing on decentralized finance, a new financial system that’s being built on top of open blockchains. The space is evolving at breakneck speed and revolutionizing tech and money. Sign up to learn more and keep up on the latest, most interesting developments. Subscribers get full access, while free signups get only part of the content. Click here to pay with DAI (for $100/yr) or sub with fiat by clicking on the button above ($15/mo, $150/yr).