Potentially Notable News

CryptoCurrencies

• To enable trustless communication between various blockchain protocols, Algorand announced the addition of State Proofs to its mainnet. The upgrade raised Algorand's transaction processing speeds from 1,200 to 6,000 per second.

• All withdrawals, flash trades, and internal transfers within Poolin systems will be suspended starting at 10:00 PM, GMT+8, on September 5, 2022, according to a PoolinWallet announcement.

• Trezor has partnered with privacy project Wasabi to introduce CoinJoin mixing to Bitcoin transactions on its hardware wallets.

• The final significant update before Ethereum switches from proof-of-work (PoW) to proof-of-stake (PoS), the Bellatrix hard fork, has been launched.

• A beta version of the BSN Spartan Network has been released by the Blockchain-based Service Network (BSN).

Decentralized Finance (DeFi)

• Frax Finance is introducing Fraxlend, a permissionless lending marketplace that enables anybody to lend or borrow assets using any token that is a part of a Chainlink data feed.

• The Stride mainnet went live bringing liquid staking to the Cosmos ecosystem.

• With the debut of the on-chain lending platform dAMM Finance, institutional investors now have access to capital-efficient, transparent, decentralized lending and borrowing.

• crvUSD launched on Curve Finance.

Non-Fungible Tokens (NFTs)

• Syndicate introduced Collectives, a new social networking and community building standard (ERC-721M).

• Paradigm published a new model for NFTs and tokens known as GOO (Gradual Ownership Optimization)

• Sorare has been named the Official NFT Fantasy Partner of the NBA as a result of a multiyear agreement between the National Basketball Association (NBA), National Basketball Players Association (NBPA), and Sorare.

• The LG Art Lab, a non-fungible token (NFT) marketplace that connects to the Hedera Network, is being launched by LG. Owners of televisions with the most recent LG software installed will be able to buy, sell, and display their Hedera NFTs directly from their screens.

Metaverse

• At New York Fashion Week, sportswear company PUMA debuted its first metaverse experience (NYFW).

Decentralized Autonomous Organizations (DAOs)

• Coinbase proposed that MakerDAO deposit $1.6 billion in USDC to earn 1.5% on Coinbase Institutional.

• Fast bridging support for Synthetix (SNX) and Synthetix USD (sUSD) between Optimism and Layer-1 was overwhelmingly approved by Hop DAO's members.

Decentralized Identities (DIDs)

• Binance announced it's launching the Binance Account Bound (BAB) token, a soul-bound token used as proof of identity for users who have completed KYC verification.

Laws and Regulations

• Employees of Coinbase and supporters of Ethereum have sued the U.S. Treasury Department, Treasury Secretary Janet Yellen, and other government officials over the decision to impose sanctions on Tornado Cash.

• The White House Office of Science and Technology released a report claiming bitcoin mining negatively impacts the environment and suggests implementing low energy, water, and noise standards or looking to possibly legislate or ban Proof of Work.

• The corporate finance division of the Securities and Exchange Commission is constructing a new office to customize public filings for cryptocurrency companies.

• Through the Nigeria Export Processing Zones Authority, Nigeria aims to establish the first economic free zone for bitcoin and cryptocurrencies in West Africa (NEPZA)

• The Ministry of Finance and the Central Bank of Russia announced the possible legalization of cross-border payments in cryptocurrencies.

Web 3

• Brave, a privacy-focused browser that enables anonymous web browsing, can now show decentralized websites using unstoppable domains.

• Roll, a social token platform, has introduced staking options and on-chain Ethereum memberships.

• Binance has announced that it would offer 1:1 USDC, USDP, and TUSD stablecoin conversions for users' existing funds as well as new deposits. Users can deposit and withdraw funds in USDC, USDP, and TUSD but will only be able to trade BUSD on the site.

• Gamestop announced that it would start stocking FTX gift cards in a few of its locations.

• Bankrupt Crypto Lender Voyager Digital has announced it will be auctioning off its assets.

• The crypto analytics company Chainalysis revealed that it assisted the American government in recovering $30 million that was taken earlier this year from the online game Axie Infinity.

Web 3 Resources

• How to build a Full stack Web 3 Youtube.

Web 3 Tools

• Spice.xyz helps developers easily create Web 3 machine learning and AI applications by allowing them to query blockchain data using SQL.

• A new kind of web wallet called Omniwallet seeks to combine security, usability, and support for several currencies.

Writer’s Note

None of the views expressed in any of the links are representative of Mix3d or Mix3d members.

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