Monday, 20 September 2021

Market Summary

Market Summary 20 September 2021

Yield Strats #28 – Honest work on Arbitrum, Forex Farming, Retroactive Airdrops and POAPs

  • This week’s yield strat focuses on yield farming on Ethereum and Arbitrum, with additional Airdrop information you may have missed across Avalanche, Ethereum and Cosmos. Convex have recently listed Fixed Forex farms with yields on stablecoins as high as 50-100% APR. DODO and Swapr have launched on Arbitrum with single-sided LP Pools and traditional 50/50 Pools, respectively. Lastly, retroactive airdrops are available to claim for DeFi participants in Avalanche and Cosmos.
  • Convex Finance is a platform built on top of Curve Finance which allows Curve liquidity providers to earn trading fees and claim boosted CRV without locking CRV themselves.
  • DODO is an on-chain decentralized exchange/liquidity provider for everyone, powered by the Proactive Market Making (PMM) algorithm. PMM is an oracle-aided algorithm with an advanced pricing formula that provides contract-fillable liquidity. DODO is now live on Arbitrum, providing rewards for liquidity providers. DODO LP rewards will not be subject to any lockup or vesting schedules. Users will need to claim these rewards when they wish to. The wBTC/USDC, ETH/USDC, and USDT/USDC pools are single-sided, meaning the liquidity rewards per block are split evenly.
  • Swapr is a multichain, governance-enabled AMM based on a fork of Uniswap, governed by DXdao. As of today, DXvote, the Swapr dApp and SWPR token contracts have been deployed on Arbitrum by the community.


An Ancient Bitcoin Stash Worth $30 Million Just Moved

  • A Bitcoin wallet that had been practically dormant for almost nine years finally showed signs of life today when its owner transferred all of its 616 bitcoins to a different wallet. 
  • On December 10, 2012, the wallet received some 616.2004 Bitcoin. Back then, Bitcoin was worth $13.30 and the entire transaction was worth about $8,195. However, with Bitcoin worth $47,811 today, the stash has ballooned to a princely $29.4 million. 


Motion Proposal to Integrate Bitcoin With the Internet Computer Approved by Community

  • The plan will add smart contracts to Bitcoin through an application of Chain Key cryptography that will directly integrate the networks.
  • The Internet Computer community is actively shaping the blockchain’s feature and upgrade roadmap, with robust discussion taking place within the Developer Forum. The DFINITY Foundation is committing R&D resources to the Internet Computer ecosystem in the form of technical contributions. Technical upgrades are subject to community discussion, voting, and approval via motion proposals to the Network Nervous System (NNS).
  • A proposal (#20586) to initiate work for the “Direct Integration of the Internet Computer with the Bitcoin Network” was submitted to the NNS on September 15, 2021 at 15:00 UTC. Voting by neuron holders ended 48 hours later on September 17, with 96.55% approval logged at a voting power of 301,806,620.


Coinbase Exec: Institutions Want Crypto—And ‘It’s Not All About Bitcoin’

  • If you want a sense of just how much investment interest Coinbase is getting from Wall Street these days, look no further than the company increasing a planned $1.5 billion debt offering to $2 billion after a flood of investor demand that tallied $7 billion worth of bids.
  • Tejpaul said he can group the inquiries Coinbase is getting on the institutional side into four main buckets. The first is simple direct investment in crypto. Around 75% of Coinbase’s institutional clients own more than just Bitcoin, Tejpaul said, and of that group, some 25% own at least five cryptocurrencies.


US officials now investigating Binance for potential insider trading, market manipulation: report

  • Bloomberg reported Friday that a broad U.S. government investigation into the operator of crypto exchange Binance has widened to include “whether Binance or its staff profited by taking advantage of its customers.”
  • Citing anonymous sources, the outlet said that U.S. officials including the Commodity Futures Trading Commission are investigating the exchange operator for “possible insider trading and market manipulation.” In recent months, Bloomberg has covered what officials say is a wide-ranging inquiry into Binance, encompassing efforts from the Internal Revenue Service and the Department of Justice as well as the CFTC. 


QuarkChain Selected as Best San Francisco Companies and Startups by BEST STARTUP, a media specialized for American companies

  • QuarkChain was selected as one of the Best San Francisco Companies and Startups by BEST STARTUP.
  • This selection list focuses on blockchain companies in San Francisco. These startups and companies are taking a variety of approaches to innovate the Blockchain industry, and are all well worth a follow.

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