TON x Mantle, Horizen’s L0 Integration, & More
TON x Mantle, Horizen’s L0 Integration, & More
Week Roundup (October 23 - 29, 2023)
Welcome to Swing's Weekly Newsletter, your source for major cross-chain developments in the blockchain world.
🔀Cross-Chain Updates
1. Swopblock's Decentralized Cross-chain DEX
Swopblock, an early-stage decentralized exchange (DEX), aims to revolutionize crypto trading by connecting distinct blockchains like Bitcoin and Ethereum without intermediaries. Unlike traditional DEXs requiring third-party involvement, Swopblock facilitates self-custodial and cross-chain trades purely via the protocol. In this way, they preserve users' control over assets even during transactions. The DEX introduces its native cryptocurrency, SWOBL, crucial for executing these trades, linking blockchains seamlessly within its ecosystem. As Swopblock raises capital through crowdfunding, it offers investors a chance to partake in this groundbreaking crypto venture.
2. TON and Mantle Team Up
The Open Network Foundation (TON Foundation) announced a strategic alliance with Mantle Network, a leading Ethereum Virtual Machine (EVM) Layer 2 solutions provider, aiming to enhance EVM-compatible Layer 2 blockchain capabilities on TON.
This alliance positions Mantle Network as a significant ally to TON Foundation in advancing interoperable blockchain solutions. TON Foundation, a non-profit organization focused on decentralized apps, aligns with Mantle Network to drive cross-chain innovations.
Image source: https://coingape.com/ton-foundation-partners-mantle-network-for-cross-chain-innovation/
3. Horizen EON Boosts Cross-Chain Communications with LayerZero Integration
Horizen EON enhances trustless cross-chain communications by integrating with LayerZero. This integration promises to foster seamless interoperability between various blockchain platforms. The collaboration reflects a shared ambition to eliminate existing barriers in cross-chain interactions, potentially catalyzing a new era of blockchain communications.
Image source: https://finance.yahoo.com/news/horizen-eon-integrates-layerzero-boost-144144496.html
4. Neo's EVM-Compatible Sidechain for DeFi
Neo is working on a special project to make smart contracts and decentralized finance (DeFi) applications safer and more reliable. This development aims to mitigate MEV attacks, thereby enhancing the security and functionality of the DeFi landscape. The new sidechain retains key Neo features.
5. Vodafone and Chainlink Unite to Make Global Trade Smoother
Vodafone, along with Chainlink Labs, Sumitomo Corporation, and InnoWave, is testing a new way to handle global trade documents using blockchain technology. They're focusing on using Chainlink’s special protocol to make trading across different countries smoother and more secure. This project could help simplify how crucial trade documents are shared and verified, making global trade processes more streamlined and trustworthy.
📰 Swing Ecosystem Updates
1. Etherspot Joins Forces with Flare
Etherspot has partnered with Flare Networks to ease Account Abstraction implementation for dApp developers, aiming for a Web-2-like experience for users, enhancing the dApp development landscape.
2. Possible New XOX Airdrop by XOX Labs
XOX Labs is exploring the idea of launching a new airdrop for its community, dependent on active engagement and support from the community members. The goal? To foster a collaborative ecosystem.
3. Celer Announces Support for Scroll
Celer announces bridging and Celer IM support for Scroll, enabling easy $ETH bridging between multiple platforms and enriching developers' resources on Scroll, advancing inter-chain messaging and bridging capabilities.
Image source: https://twitter.com/CelerNetwork/status/1717723294739337531?s=20
4. Synapse Chain Now Live on Thirdweb
Synapse Chain is now live on Thirdweb, aiming to simplify building interchain applications. With just a few clicks, developers can deploy contracts, significantly cutting down setup time from days to minutes. It offers a platform for creating apps using thirdWeb SDKs, deploying pre-built contracts for various uses, and building smart contracts straight from the command line interface (CLI). However, note that this exciting development is currently for the Synapse Chain testnet only.
Image source: https://twitter.com/SynapseProtocol/status/1717284238028902598?s=20
🔥What’s Trending
1. Polygon Labs POL Token Upgrade on Ethereum Mainnet
Polygon Labs has rolled out an upgrade for its POL token on the Ethereum mainnet. This upgrade enhances the token's functionality, aiding in managing on-chain liquidity. The revamped POL token now supports a multitude of assets, improving its interoperability across different blockchain ecosystems. This development aligns with Polygon's mission of creating a multi-chain system — the "internet of blockchains."
2. Arbitrum's Orbit Layer 3 Solution
Arbitrum Orbit, a custom blockchain solution from Offchain Labs, is set for mainnet deployment. Orbit allows developers to construct their chains atop Arbitrum's Layer 2 infrastructure without permission. Ten Orbit chains are already under development. A notable feature of Orbit is its integration with AnyTrust for reduced transaction fees and Stylus, a tool enabling smart contract creation in Rust, C, and C++ while retaining full EVM compatibility
Image source: https://twitter.com/arbitrum/status/1717571952599089388
3. DYdX Chain Launch on Mainnet as Standalone Cosmos Layer 1
DYdX has launched its version 4 along with a standalone Cosmos blockchain on its alpha mainnet. This launch marks a transition to a new community-governed blockchain. The alpha mainnet aims to stress-test the network with over 60 validators to ensure network security. A beta launch is planned, pending community governance approval, which will enable trading on the network. This development follows the recent release of the open-source code for the dYdX blockchain, emphasizing a move towards full decentralization.
📊Bridge Stats
Key data insights from the bridging ecosystem in the past week👇
Bridge Volume
Bridge Inflows
Disclaimer: Data sourced from DefiLlama
📜Interesting Reads
1. Upcoming Fermat Hard Fork in BNB Chain
BNB Chain is about to have a Fermat hard fork. This upgrade will happen in a test on November 3 and aims to lower transaction fees, among other things.
It's a way to make the BNB Chain work better, especially in reducing costs when moving assets between different layers of the blockchain. This hard fork is part of BNB Chain's efforts to improve and attract more developers, although the number of core developers has dropped recently. The upgrade steps are well laid out for the community to follow, ensuring a smooth transition during the Fermat testnet.
Image source: https://ambcrypto.com/all-you-need-to-know-about-bnb-chains-upcoming-fermat-hard-fork/
2. Real World Assets (RWA) Tokenization: A Big Leap?
Tokenizing Real World Assets (RWAs) means turning physical assets like houses or gold into digital tokens on a blockchain, which can then be easily traded and owned. This new trend is creating a buzz because it brings many benefits, like making investments more liquid and possibly reducing the risk that comes with cryptocurrencies.
The value of global assets like real estate and gold is huge, but they haven't been fully utilized in the decentralized finance (DeFi) world yet. By tokenizing them, they become easily accessible on blockchain networks like Ethereum, opening up new possibilities for investors.
Some projects are already working on this, and it's seen as a step towards blending traditional finance with blockchain technology, making investments more transparent and inclusive.
Image source: https://www.bsc.news/post/what-is-tokenization-of-real-world-assets-rwa-and-is-it-the-next-big-thing
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