Innovation & Launches
Polygon and Cere network to launch Web3 media platform, DaVinci (2 minute read)
DaVinci is a web3 media platform on Polygon and Cere for storing NFT-backed assets securely and ensuring verifiable and truly decentralized data. It allows for personalized content streaming to NFT holders via smart contracts. Users will be able to mint and sell functional NFTs that provide access to exclusive content. The platform offers creators the guarantee of a share of the royalties from any sale. It will provide research and analytics tools so creators can tailor their content to NFT holders and fans.
“Reverse ISO” will see 20 million more SundaeSwap tokens given away (2 minute read)
SundaeSwap, a decentralized exchange on the Cardano blockchain, launched on January 20 and soon became the leading Cardano DEX. It uses an Initial Stake Pool Offering (ISO) token distribution method that has been criticized as overly complex. SundaeSwap's ISO resulted in many tokens being transferred to certain pools, making the system trend towards centralization. The exchange will now try to counter this effect by rewarding stakers who stake in eligible smaller pools from February 19 to 24.
Chingari Brings 35 Million Active Users to Solana with the Launch of its In-App Wallet (2 minute read)
Chingari, also known as the 'Indian TikTok', is introducing an in-app wallet that uses the $GARI token on the Solana blockchain. The app for the decentralized short video platform has more than 100 million downloads. The in-app wallet can be used to deposit, withdraw, and trade the token. $GARI can be used to tip or boost content creator profiles and content on the Chingari app. The token was listed on several exchanges simultaneously last week.
Guides & Resources
Polygon Academy (Website)
The Polygon Academy is a free online school dedicated to onboarding developers into the world of web3. It consists of four levels, each with a set of tasks such as quizzes and tutorials. Participants can receive limited edition NFT badges for completing modules. A short introductory video is available.
StealthDrop (GitHub Repo)
StealthDrop is a utility that allows completely anonymous accounts to claim airdropped ERC20 tokens. Users can connect their wallets to sign a message proving ownership and then switch to another account to claim the airdrop without linking the accounts in any way. A video showing how the utility works is available.
Monero Supporters Beg XMR Miners to Boycott Mining Pool Capturing 44% of the Network Hashrate (3 minute read)
The Monero mining operation Minexmr commands over 44% of the network hashrate. This has caused debates in the Monero community about whether the mining pool will threaten decentralization. If a miner controls over 51% of the network, it could potentially attack the network and cause major issues like double-spends and deep blockchain reorganizations. There are more than 30 pools available, but three Monero mining pools have over 80% of the network's global hashrate. Minexmr plans to increase its pool fees to address the concerns.
How Azukis Suddenly Became The World’s Best-Selling NFT Collection (3 minute read)
8,700 Azukis were released on January 12 priced at $3,400 each and sold out in three minutes. The NFT collection did nearly $300 million in transaction volume across several NFT marketplaces in four weeks, more than even the Bored Ape Yacht Club. Azukis were released by a mostly anonymous group called Chiru Labs. Chiru plans to launch an Azuki clothing line in February and eventually end up in Hollywood. The success of the collection may be due to its comparatively high-quality art and production value.
What BlockFi’s $100M settlement with the SEC means for future of DeFi lending (3 minute read)
BlockFi, a crypto lending platform, has settled with the US SEC over claims that it violated securities law through its interest account offering. It will pay a $100 million penalty, the largest yet incurred by a crypto firm. The company allowed users to earn a monthly interest payment on held cryptocurrencies and illegally operated as an investment company for 18 months. BlockFi will cease sales of its unregistered lending product and will release a new compliant lending product. The ruling may have serious implications for companies selling interest-bearing DeFi products.
Coinbase’s Super Bowl ad brought 20 million people to its site in a single minute (2 minute read)
Coinbase jumped from 186th place to 2nd in the App Store after its Super Bowl ad on Sunday. Over 20 million people visited the site's landing page within a minute of the ad airing, making it briefly crash. Coinbase pledged to give away over $100 million in crypto this year and is offering $15 in bitcoin to new sign-ups who register within 48 hours of the ad airing. Crypto was referenced at least four times during the Super Bowl.