Select observations of the day:
The Ropsten testnet on the Ethereum network is ready for its first dress rehearsal of the Merge, expected to be around June 8th. Will allow developers an early look at what to expect when the real Merge occurs, and how to prevent problems. After the Ropsten transition, two more testnets (Goerli and Sepolia) will be transitioned to POS before focus shifts to mainnet - source
A security bug allowed a hacker to drain about $90M from Mirror Protocol on the old Terra blockchain and went unnoticed for 9 freakin’ months, until recently discovered by a Terra community member and analyst called “FatMan” - source
An error on the pricing oracle software for Terra Classic validators caused by a majority of validators running running an outdated version of the price oracle allowed an exploiter to drain 4 synthetic asset pools from Mirror Protocol for more than $2M. - source
Plus more. Optimism airdrop token performance should be a very interesting case study. Curious what it’ll say about the health of the market. Stay tuned
- Time moves differently in crypto. Crypto is an intricate game filled with various players operating across multiple time frames and with varying agendas. Day in, day out, the pieces are moving all across the board. Sometimes for the better and sometimes for the worse. Here’s a small glimpse of what has happened so far today in our little crypto bubble -
Chain News:
Optimism’s OP token exchange listing announcements. No official Optimism announcement
BNB Chain releases year-long technical roadmap to develop ecosystem: major areas of focus surround increasing validator decentralization, developing capabilities for governance via the BNB token, and deploying a number of Binance Chain Evolution Proposals - source
Activating Immutable X’s “protocol fee” in preparation for the upcoming release of IMX staking in June. Not a gas fee, don’t need to pay it in IMX directly, it’s a simple exchange fee on transactions, paid in the currency of the trade - source
Kava Onboards Sushi With $14M in Developer Incentive Funding - source
MakerDAO announced that it has enabled the StarkNet Dai Bridge, allowing DAI to move between Ethereum and StarkNet - source
Dune Analytics Engine V2 is a complete overhaul of entire data architecture, a huge upgrade in performance, and represents a paradigm shift in crypto data - source
DeFi Saver expanding to L2s and is now live on Arbitrum and Optimism - source
Kyoto Protocol has received a grant from NEAR Protocol to establish itself as an advanced decentralized carbon credit DEX and marketplace - source
Lido integration enables holders of Polkadot’s DOT to stake their assets in the form of xcDOT (cross-chain DOT), for which they receive an stDOT (staked DOT) token. Both xcDOT and stDOT are XC-20 tokens, a token standard created by Moonbeam - source
Bifrost Finance won the 18th Polkadot parachain auction with 403,658 DOT - source
Tesseract Finance informed all members of the community and relevant stakeholders that they have decided to shut down. Will deleverage all vaults, turn off all fees and slowly wrap up the technical tasks in the background, preparing for a full shutdown by the end of the year - source
On Stargate Finance you can now deliver yourself native gas on the destination network when completing a transfer - source
Gearbox Protocol March - May 2022 update with tasks done, treasury spending, and more - source
Maple Finance MPL staking live. First movers will receive the greatest returns as they are bootstrapping the launch with an additional 30,000 MPL - source
pSTAKE's ETH liquid staking implementation is now live on Mainnet. Users can now stake ETH via pSTAKE app and receive stkETH, opening the door to additional DeFi opportunities - source
Introducing "MEV Explorer": the easiest way to start discovering MEV on the blockchain, works as a frontend for "mev-inspect-js", so it has support for arbitrage and liquidations across Ethereum, Polygon, and Arbitrum - source
Gearing up for public launch of the new sudoswap marketplace, they’re open-sourcing the NFT AMM smart contract code that powers everything behind the scenes - source
EMDX Autonomous Derivative Markets will be available on Mainnet on June 20th - source
Meet Sqwid - The First NFT Marketplace on Reef’s layer 1 blockchain - source
Dusk Network allocates grant to privacy Web3 protocol HOPR - source
Metaverse News:
Illuvium Land Sale Announcement: June 2nd, 09:00 UTC, 20,000 Land Plots, Dutch Auction on L1, minting on Immutable - source
PlanetQuest & Immutable X launch the world’s first, community friendly, NFT Planet Sale
News:
China will airdrop 30M digital yuan ($4.5M) to Shenzhen’s residents in a bid to boost its pandemic hit economy - source
UAE-based shopping mall and retail conglomerate Majid Al Futtaim teams up with Binance for NFT listings, crypto payments - source
Raises:
Checkout.com founder backs DeFi platform Alloy in $3 million pre-seed round - source
New Listings:
Binance Futures Will Launch BUSD-Margined LUNA2 Perpetual Contracts with Up to 20X Leverage - source
Optimism (OP) Gets Listed on KuCoin on May 31st (plus several others) - source
Pikaster (SRBS) Gets Listed on KuCoin - source
Rare Ball Shares (RBS) & Super Rare Ball Shares (SRBS) Gets Listed on KuCoin on June 1st - source
Crypto.com Exchange lists Project Galaxy GAL and Alchemy Pay ACH
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