Monthly Update (July 20)
The Graph, Secret Network, Microtick, Substrate IBC Working Group, and other network updates!
Chorus was among the first indexers to sign up for the The Graph incentivized testnet. We are looking forward to participating in this protocol that is already powering the front-ends of a lot of DeFi applications! We see great synergies in our work on staking reward data with Anthem and what The Graph is trying to achieve.
We onboarded two promising Cosmos SDK chains:
Microtick, a marketplace for short-term options that is coming out of ShapeShift’s R&D arm. Microtick’s main output is a price feed that can be hedged by those that seek to use price data in their decentralized applications. You can already earn TICK by participating as a market maker or trader in the Microtick system, make sure to check out their website to learn more.
Secret Network, a blockchain for privacy-preserving smart contracts maintained by Enigma and a group of independent validators (“secret nodes”). The Secret Network is currently running an incentivized testnet to stresstest its capabilities.
We initiated the Substrate IBC Working Group that seeks to coordinate different initatives to connect the Polkadot and Cosmos ecosystems!
Network Data
Snapshot data from August 5, 2020:
The Web3 Foundation completed a third DOT sale raising around $43.3m in Bitcoin for 80,000 DOT (~3.5% of the total supply).
DOT transfers will be enabled Aug 18, 3pm CEST - and 72 hours after that, the denomination of DOT is going to change after a governance vote to do a “stock split” with a factor of 100 passed. Read more here.
There is currently no Chorus One Polkadot validator node in the active set. Consider nominating one of our 4 validators to help us enter the set, find their addresses here.
The community pool-funded initative for governance-gated CosmosWasm 1.0 smart contracts for Cosmos SDK chains was completed and is being tested on testnets. Learn more here.
Starport, a tool that makes it extremely easy to deploy Cosmos SDK blockchains, was released. Check out the demo here.
An order book DEX called Serum, developed mainly by the team behind the derivatives exchange platform FTX and built on Solana, was announced.
Solflare, a wallet to stake $SOL tokens built by Dokia Capital, was released.
Solana participated in the Reddit scaling challenge and was the most upvoted submission. Here’s how Solana performed plus a list of all the other submissions from projects like NEAR, SKALE, StarkWare, etc.
Kava CDP functionality is live. Currently roughly $25m of BNB have been put up as collateral to mint $5m of USDX stablecoins. Observe network statistics here.
$KAVA rewards for opening CDPs with BNB as collateral to incentivize participation were activated. As a result, opening a CDP with BNB has an expected APR of 47.52% as of now. A bug in this logic lead to a ~4h downtime event on July 29, find the post-mortem here.
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