Monthly Update (May 21)
Celo Donut hardfork, parachains on Kusama, Persistence onboarding, NEAR Aurora, and more.
Lido for Solana Nearing Launch
We have been busy building the Lido for Solana (stSOL) minimum viable product (MVP) in May with a testnet release following this week. In tandem, the Lido Node Operator Subgovernance Group (LNOSG) is evaluating applicants to determine the initial set of node operators for Lido for Solana.
We are hiring for the following roles:
See more at: https://chorus.one/careers
This month’s tutorial of the month is how to stake $MINA. Mina uses zk-snarks to produce the world’s lightest blockchain, a compact and fixed 30kb blockchain. It is with great pleasure that we share with our subscribers a $MINA staking guide done by our good friends at Figment. More information on Mina protocol can be found here.
Network Updates
Assets staked with Chorus One: $1,558,107,997
Celo underwent a hard fork, ‘Donut’. The Donut hardfork included CIP-20 (a cryptography upgrade) CIP-25 (a proposal by Chorus One to enhance interoperability of Celo) and CIP-35 (allowing metamask compatibility).
The first parachain was deployed on West-end pharma testnet, and now Polkadot is beginning the 5th and final phase in the launch of Polkadot.
Governance has approved the first shell parachain to be deployed on Kusama. When the shell parachain has run for 24 hours without issues, the shell parachain will be upgraded to a statement parachain. Finally, once Kusama has demonstrated that parachains with transactions and consensus work well, auctions for parachains will be launched on Kusama.
There was a 50x increase in the amount of SKALE tokenholders this month, from 20,000 tokenholders to now over 1m (!) This has likely come from renewed interest in sustainable PoS networks, from the concerns Elon Musk raised about PoW networks.
A proposal has been made on the Cosmos forum to aggressively tweak the max inflation parameter to 1 to mitigate an unpredictable staking unbonding event. The max inflation parameter was previously at 0.13, increasing the variable to 1 increases the immediate inflation after a shock unbonding event to help drive the network back to the target bonded amount (66%). The enablement of Gravity Bridge has also gone to governance to be voted on, which will be the first ETH <> ATOM bridge to go live on Cosmos if governance votes yes to deploy.
Lido had three challenges for developers in the Open DeFi Hackathon: a key management challenge, st/ETH AMM challenge and open challenge. Winners of the challenges can be found here. There is now 450,000 ETH staked with Lido.
Mina is now tradable on Kraken, OkEx and Coinlist.
Centrifuged announced Altair, an experimental version of Centrifuge that will run on Kusama. AIR token is the native token of Altair that will be airdropped 1:1 to existing Centrifuge tokenholders.
Terra announced the usage of Pyth for oracle price feeds. Price feeds are a critical component of Terra blockchain, as they are used to keep Terra algorithmic stablecoins at peg. Pyth is built on Solana. Pyth will be bridged to Terra using Wormhole.
Near launched ‘Aurora’. Aurora combines the EVM with their cross-chain bridge, ‘Rainbow’. Assets on Ethereum can be seamlessly bridged to NEAR and dApps built on Ethereum can now be deployed on NEAR with no code changes.
Our newly onboarded network Persistence, has established an IBC connection on Cosmos.
Secretswap upgraded to v2. The upgrade updated the UX, performance and stability of the front-running resistant DEX that is built on Secret.
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