Innovation & Launches
Binance Labs Invests in DEX PancakeSwap; CAKE Jumps Nearly 10% (1 minute read)
Binance has invested an undisclosed amount into PancakeSwap, a decentralized exchange built on the BNB Chain. The investment will help PancakeSwap further develop its technology, marketing, and community support. PancakeSwap is now the biggest decentralized app on Binance's BNB Chain with more than 400,000 users. Its CAKE token was up nearly 10% following news of Binance's investment.
Cell Protocol Wants to 'Democratize' Liquidity in DeFi (2 minute read)
Cell Protocol is a smart automated market maker that uses bots to try to provide liquidity. It currently has $250,000 in total value locked. Cell Protocol plans to integrate with decentralized exchanges on multiple blockchains to become a unified liquidity layer across DeFi. It will start by integrating with DEXs on Solana before expanding onto other blockchains.
Guides & Resources
Estimating #ETH yield + valuation post-merge (1 minute read)
This Twitter thread makes predictions on what the ETH yield and price will be after the Ethereum Merge. The estimated yield for ETH after the Merge is between 7% to 13%. ETH is predicted to be at $6,100 after the Merge. The data used to make the predictions is available in the thread.
Here's a solution to fees + slippage on @Uniswap (3 minute read)
Executing large trades on Uniswap's Automated Market Maker will result in large fees and slippage even in the most liquid pairs. Time-Weighted Automated Market Makers (TWAMMs) break large orders into infinitely small virtual orders distributed over a long period. This ensures low gas prices and overall transaction fees. They can be canceled at any time by paying gas fees. A link to an article explaining the mathematical implications of the TWAMMs model is provided at the end of the thread.
BAYC smart contract function allows unlimited minting of new Apes by single wallet (3 minute read)
A function in the Bored Ape Yacht Club smart contract allows a single non-multi-sig wallet to mint an unlimited number of new Apes. The wallet is still active. It has the ability to arbitrarily change the metadata associated with existing apes. BAYC claimed that they would revoke access to the function over a year ago. The value of the BAYC collection may be affected if the wallet decides to mint more NFTs.
$26.5M NYC Building Listed on OpenSea (3 minute read)
A seven-story building in Manhattan's Flatiron District has been listed on OpenSea as an NFT. Purchasing the NFT will result in ownership of the property deed after the standard process for transferring real estate is complete. Real estate properties and sales are one of the best use cases for NFTs. There are still gaps between the blockchain and existing government infrastructure that need to be solved. A picture of the property is available in the article.