Select observations of the day:
Upcoming modular L1 Celestia launched its Mamaki testnet - supports users operating nodes, receiving testnet tokens, delegating from validators and sending transactions between wallets - source
Ethereum beacon chain experienced a 7-block deep reorg, a potentially high-level security risk temporarily resulting in a duplicate version of a blockchain. Problems with the Beacon Chain could potentially further delay the merge - source
Exchanges including Binance, FTX, Crypto.com, Huobi, Bitfinex, Bybit, Gate io, Bitrue and Kucoin will support Terra 2.0 which is expected to go live on May 27th - source
MXNT launched - pegged to the Mexican Peso - Tether's 4th stablecoin. Currently: USDT, EURT, and CNHT. Will initially be available on Ethereum, Tron and Polygon - source
Recent UST failure seems to have prompted large investors on the Ethereum blockchain to leave USDT for the perceived safety of USDC - source
Vitalik Buterin introduced "soulbound tokens or SBTs”. NFTs earned based in part on job and education history, a kind of "extended resume". Non-transferable, hence soulbound - source
Plus more. Sentiment feels bearish all around and a lot of charts are looking red. It just be like that sometimes. Holdfast.
- 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:
Layer 1 blockchain Celestia has launched its “Mamaki” testnet, making it one step closer to becoming the first fully functional modular blockchain - source
MXNT, Tether's fourth fiat-pegged stablecoin after USDT, EURT, and CNHT, will initially be available on the Ethereum, Tron and Polygon blockchains - source
Exchanges including Binance, FTX, Crypto.com, Huobi, Bitfinex, Bybit, Gate io, Bitrue and Kucoin pledged their support for Terra 2.0 which is expected to go live on May 27th - source
DeFi insurance protocol InsurAce controversially reduced the claims period for the Terra UST depeg event from 15 days to 7 but added it has already processed nearly all 173 submitted claims and will pay out $11M - source
ZEBEDEE, a Bitcoin gaming app, has integrated crypto payments firm MoonPay. U.S. users can buy Bitcoin with more countries to come and eventually sell Bitcoin for fiat currency - source
Pacer, the very first Wellness-To-Earn ecosystem super app that'll incentivise users who practice good and consistent wellness habits - source
The UST failure has seen larger investors on the Ethereum blockchain leave USDT for the perceived safety of USDC - source
Ethereum beacon chain experienced a 7-block deep reorg, a potentially high-level security risk temporarily resulting in a duplicate version of a blockchain. Problems with the Beacon Chain could potentially further delay the merge - source
Avalanche C-Chain Network Utilization chart shows a deep drop due to subnets or ?
Dopex Interest Rate Options are now live in beta - source
Mirror now allows you to mint your writing as a digital collectible and set a customizable supply and price for it. Writing NFTs are completely free for writers to create, and collection happens on an Ethereum L2 - source
Terra Prop 1747 to burn the remaining UST in the Community Pool + cross-chain liquidity incentive - source
Jumbo Exchange Receives Grant as part of Proximity Labs’ recent $350M grant DAO to Accelerate NEAR Ecosystem Development - source
Launch of Risk DAO, a service DAO spearheaded by B.Protocol and 1kx that will focus on providing a new, open source risk assessment framework and associated audits - source
YGG responds to Merit Circle’s community proposal to cancel YGG’s SAFT on the basis that they had not added enough value - source
On May 11th, Drift Protocol was halted for trading on discovery of a smart contract bug that enabled users to withdraw more collateral than they were entitled to. Drift has secured financing to cover the outstanding shortfall of $14.5M in full - source
TrustWallet now supports Fantom - source
Metaverse News:
Vitalik Buterin introduced "soulbound tokens or SBTs”, NFTs earned based in part on job and education history, a kind of "extended resume". Unlike regular NFTs, they're non-transferable - source
CryptoPunks floor price drops below $100,000, down 50% from last month - source
A ‘Proof Collective’ member fell victim to a phishing scam, losing 29 highly valuable Moonbirds NFTs worth around $1.5M or 750 ETH - source
Former OnlyFans execs set to launch influencer NFT trading card app - source
News:
Federal Reserve officials said they anticipate half-percentage-point interest rate increases “would likely be appropriate at the next couple of meetings” - source
The World Bank has said “it will be physically impossible” for the lender to fund the planned Sango crypto hub and voiced concerns regarding the country’s adoption of Bitcoin - source
Binance has become the first crypto exchange to receive a category 4 license by the Central Bank of Bahrain - source
Thailand exempts crypto transfers from VAT until end of 2023 - source
Raises:
Former executives from crypto exchange Binance have revealed Old Fashion Research, a $100M fund focused on blockchain investments - source
Immutable X has teamed up with web gaming platform Kongregate for a $40M fund to give grants to developers who make blockchain games for Kongregate - source
Some of the recent private fundraising events among blockchain startups you should know about
New Listings:
Sandbox (SAND) will be listed on Coinbase & Coinbase Pro on May 26th - source
Concordium (CCD) Gets Listed on KuCoin on May 27th - source
DOSE (DOSE) Gets Listed on KuCoin on May 27th - source
Reach out to me on tweeter