[PoS Round-Up] USDT launches on Solana, SushiSwap saga continues

Ethereum

[PoS Round-Up] USDT launches on Solana, SushiSwap saga continues

Ethereum

One of the biggest recent Ethereum DeFi stories is the SushiSwap saga. The story so far:

Source: SushiSwap blog
  • SushiSwap launched with the aim of draining liquidity from DeFi giant Uniswap using a farmable governance token as an incentive for liquidity providers to make the switch.
  • SushiSwap creator “Chef Nomisold off his stake for roughly 38,000 ETH, a move widely decried by the community (though he later returned it). Control of the project was given to other developers, led by FTX CEO Sam Bankman-Fried.
  • The liquidity migration was successful, “vampire mining” more than $800 billion from Uniswap, though most of that liquidity had been locked in Uniswap for the purpose of earning SUSHI tokens.
  • SushiSwap lowered the reward for liquidity providers, leading to Uniswap retaking its lead in total value locked.

Bits & Pieces

  • Led by projects like SushiSwap, the DeFi frenzy led to transaction fees hitting a new all-time high this month, with miners raking in $17 million in a single day.
  • “If all goes well, November is still looking good for a[n ethereum 2.0] launch from our perspective.” — Raul Jordan in a recent blog post from Ethereum 2.0 client developer Prysmatic Labs.
  • Spadina, a “shortlived dress rehearsal” testnet, will run in parallel to Medalla later this month.
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Solana

Tether will be launching its USDT stablecoin on the Solana network.

Source: Solana blog
Stake your SOL with us!

Algorand

In other stablecoin news, Coinbase’s popular USDC stablecoin is expanding to the Algorand smart contract platform to reduce its reliance on Ethereum, the only other major blockchain that supports USDC.

The booming DeFi sector has led to an explosion in the value of USDC transferred each week. Source: Coin Metrics via Decrypt

Cosmos

Cosmos has released its stargate-2 testnet. Learn more about Stargate, “The biggest event in the ecosystem since the launch of the Cosmos Hub,” here.

Applications are open for HackAtom V! The hackathon begins October 16.

Stake your ATOM with us!

Oasis

The Oasis Labs Team has released an introduction to ROSE, its network token, as well as details concerning ROSE’s tokenomics.

Source: Oasis blog

Band Protocol

Decentralized exchange Loopring has integrated Band Protocol for its decentralized price feeds.

Matic Network

Ethereum layer 2 scaling solution Matic Network has released its PoS Token Bridge, enabling faster deposits and withdrawals between the Matic and Ethereum networks.

stakefish

We’ve released two more entries in our Ethereum ecosystem list series:

Dev Tooling

Storage

We also published a guide to some of the most important projects in the Cosmos ecosystem.

We released another blog post on Ethereum 2.0: Deeper dive into Ethereum 2.0: Part 1. If you’re a newcomer to Ethereum 2.0, feel free to start with our beginner’s guide. If you’re trying to decide whether to stake your ETH, try this blog post for some guidance.

Deeper dive into Ethereum 2.0: Part 1
Are you ready to learn more about Ethereum 2.0 and start your journey down the rabbit hole?

We made it onto the Beaconcha.in Ethereum 2.0 Medalla testnet graffiti wall!

Native KAVA delegation is now live on our website!

Last week, we hosted the first meetup in our DeFi Seoul series. If you speak Korean, drop in and join us this Friday for the next event! We’ll publish the link on our Twitter page.


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