DeFi Weekly #43
Did someone say... Libra? bZx Launch, Kyber integrates into HTC + more!
|Kerman Kohli||Jun 20, 2019|| 3|
Latest this week
My time spent on Crypto Twitter has probably increased by 10x over the past week because of the tremendous influx of news coming out. Strap in, it’s a long read!
Libra. Love it or hate it, you can’t deny the fact that it does two things very clearly: a) legitimises crypto politically b) challenges the establishment. Whenever I tell people that I work in crypto their first response is something along the lines of “oh, I heard Bitcoin crashed”. Facebook entering in the game changes the mainstream narrative to something along the lines of “ah, like Facebook’s cryptocurrency”. I’m not saying Facebook is the best advocate to represent the ideals of crypto, but they’re the strongest contender to challenge the establishment with the corporations, venture capitalists and partners behind them. If you take a step back and look at crypto as a hydra, Facebook is just one of many heads. It won’t be long before other FANG players will want to print and create their own money as well. Satoshi’s whitepaper was a political statement about the global financial crisis. After almost a decade we’re starting to see governments becoming extremely alarmed about the threat on their monopoly of money. The fact it took one day for the senate to have a hearing about Libra demonstrates the urgency with which regulators are acting on now. We live in extremely special times where we get to write the future history of money - what a time to be alive.
bZx has been making waves by launching their Fulcrum products with over $750,000 worth of liquidity at launch. In addition, they’re partnering with Augur to bring margin trading to scalar markets. Let the arsenal of lego moneys continually expand. Checkout their full tweet storm to learn about what they’re up to:
Mass adoption and Kyber! HTC integrated Kyber’s liquidity protocol directly into the Zion Vault on HTC Exodus 1! How cool is that? To have your phone seamlessly swap between any crypto currency to represent money, assets or non fungible tokens is huge!
Loopring’s SNARK based DEX can settle 660 transactions per second outlining a 25% increase from their first iteration. This team is seriously under the radar and deserves more attention!
On Chain Statistics
Total Locked in DeFi: $569M. Small change from last edition by approx $30m. ETH holders are waiting for price to take off as Bitcoin rips through $9k and approaches $10k.
Biggest Gainer: Connext starting off with $40k locked in their state channels. Great things take time :)
Interesting Stat: Augur has $1m locked up while Veil still only has $70k.
Community Submitted Links
I wrote a small piece on HackerNoon about where we are in crypto and where we might go next. Check it out at: https://hackernoon.com/the-crypto-maze-the-present-future-2111fd948292
Announced a partnership with Augur to bring margin trading powered by bZx natively to the Augur v2.0 user interface.
Further optimized throughput of Loopring v3 SNARK-based DEX: can now settle 660 transactions / second. This represents a 25% increase from benchmarking two weeks ago. And, cost is 1 cent or less. We expect further optimizations still.
Video presentation of founder Daniel Wang explaining how Loopring uses zkSNARKs for scaling DEXs during NY blockchain week.
The relay (backend engine) has been upgraded and modified to support v3. Now capable of zero-knowledge proof generation, and verification for the on-chain deposits, on-chain withdrawals, and off-chain settlements.
Participated in the dxDAO staking/reputation earning process by staking significant LRC held in Loopring ecosystem fund.
Completed the implementation of Oedax v1, our Open-End Dutch Auction eXchange protocol. Will be further tested and deployed once we complete our new fee model and staking implementation.
HTC, a consumer electronics company with more than 20 years of innovation, has integrated Kyber’s liquidity protocol into its Zion Vault on HTC EXODUS 1, the first native web 3.0 blockchain phone, allowing users to easily swap between cryptocurrencies in a decentralized manner without leaving the wallet.
We celebrated 1 million Kyber Network Crystal (KNC) burnt 🔥with a Kyber trading contest, giving away 15,000 KNC to our community!
In the first WBTC Community post, we share an update on adoption and DeFi use cases, outline a roadmap, as well as show how anyone who is interested in participating can do so. Follow Wrapped BTC on Twitter !
Gnosis (GNO), DAOstack (GEN), Loopring (LRC), iExec (RLC), and Pundi X (NPXS) are now available on Kyber Network. These tokens are accessible through KyberSwap and other platforms that are tapping into our on-chain liquidity protocol.
Last week, AirSwap co-founder Don Mosites and Rob Paone answered the Messari community’s questions during the AMA hosted on Telegram. You can read the entire transcript here.
Want to make your token available on AirSwap? Kerock and AirSwap are joining forces with the vision of democratizing liquidity and token accessibility. Learn more on how you can receive liquidity services for free
We’re continually improving on the AirSwap trading experience. See how easy it can be to trade on decentralized networks. Make a trade on AirSwap Instant today!
We published Part 1 of our MPExplained educational series: Pricing Position Tokens. Check it out to learn more about our first product, BTC/DAI
Liquidity Network has the honor to sponsor the 1st International Summer School on Security & Privacy for Blockchains and Distributed Ledger Technologies, hosted by TU Wien in Vienna – Austria from 2 to 6 September 2019.
Liquidity team is excited to announce the results of #CanvasCompetition 2.0! Thank you to all participants and congratulations to the winners 🎉.
We released Zebra, the first alternative Zcash client, with the Zcash Foundation.
Shiny new Substrate developer hub.
We introduced Lightbeam, our Optimising Streamling WebAssembly Compiler, intended for our Substrate smart contract subsystem.
Jutta Steiner joined as a guardian at Matrix Foundation.
Web3 Foundation is providing grants to build the Web3 ecosystem.