Uniswap v4 and UniswapX, XOXS’ Upgrade, Bitpanda’s Multi-Chain Support & More
Uniswap v4 and UniswapX, XOXS’ Upgrade, Bitpanda’s Multi-Chain Support & More
Week Roundup (October 16 - 22, 2023)
Welcome to Swing's Weekly Newsletter, your source for major cross-chain developments in the blockchain world.
🔀Cross-Chain Updates
1. PLEXUS Integrates Linea Chain
PLEXUS, a notable cross-chain aggregator, has partnered with Linea Chain to improve blockchain security for its users.
This collaboration aims to provide better protection for digital assets, a priority in the blockchain sector. The integration is set to speed up transactions and offer more asset choices.
With over 1.3 million wallet visits since its launch, PLEXUS is making strides in cross-chain exchanges and blockchain adoption. Linea Chain's technology, especially its use of ConsenSys’ ZK-proof technology, accelerates transactions and strengthens Ethereum's functionality, marking a significant advancement in blockchain security and efficiency.
2. Y00ts Launches Bridge from Polygon to Ethereum
Y00ts announced the much-anticipated launch of its cross-chain bridge from Polygon to Ethereum, urging users to complete the migration process by October 22, 2023.
To incentivize prompt action, Y00ts is covering gas fees for the initial day and offering a chance to win y00ts for those migrating within the first 24 hours.
The migration, powered by the cross-chain NFT standard of Wormhole, entails validation of bridge transactions on Polygon before settling on the Ethereum Mainnet, enabling users to mint NFTs post-migration.
However, post-deadline migrations will incur a hefty 33.3% royalty fee on Polygon, termed the Paper Hand Bridge Tax.
3. mBridge Adopts New Chinese Blockchain Protocol for Cross-Border Payments
mBridge, set to launch cross-border Central Bank Digital Currency (CBDC) payments next year, recently transitioned to a Chinese blockchain consensus protocol — Dashing.
Developed by China's central bank alongside Tsinghua University, Dashing tackles the Blockchain Trilemma, striving for high scalability, security, and low latency. The protocol was tested on a 91-node network, reportedly boosting performance tenfold.
Its implementation could challenge conventional platforms like SWIFT, marking a significant step in cross-border payments.
4. Bitpanda Unveils Multi-Chain Network Support
Bitpanda, the digital asset platform, has unveiled support for multi-chain networks, smoothing the way for users to transfer selected crypto assets across various blockchains such as Polygon Network and BNB Smart Chain.
The upgrade will better the flexibility and cost-effectiveness for users shifting assets. It's also expanding crypto asset backing on Tether (USDT), with deposits via Polygon and BNB Smart Chain and Polygon (MATIC) via Ethereum, promising more assets and networks soon.
Users must connect with Bitpanda, press 'deposit,' choose the cryptocurrency and network to use, and fulfill the minimum deposit requirement to complete transactions.
5. CoinList Launches Staking Fund for U.S. Accredited Investors
CoinList, a cryptocurrency exchange and launchpad, has rolled out a multi-chain staking fund for U.S. accredited investors. This fund allows investors to earn returns from staking digital assets like Ethereum and Near, initially supporting just these two blockchains but with plans for more in the future.
Staking, a way to secure blockchain networks and earn new tokens, has been simplified by CoinList for investors to earn without the hassles of managing the process.
There are plans to broaden the fund's scope by including more chains like Flow, Sui, and Mina in the future.
Image source: https://twitter.com/CoinList/status/1712456497924362723/photo/1
6. Chainlink Sets Stage for Constellation - Web3 Hackathon
Chainlink is setting the stage for its Web3 hackathon, Constellation, from November 8 to December 10, 2023. Building on the success of its first edition, the upcoming event has earmarked $350k for rewards across various categories, including DeFi, Cross-Chain solutions, and Web3 gaming, among others.
Contestants can earn extra by deploying a Chainlink service reflecting a blockchain modification.
📰 Swing Ecosystem Updates
1. xLabs Launches WormholeScan
xLabs has unveiled WormholeScan, a block explorer and analytics platform. WormholeScan offers better visibility of transactions, developer-friendly APIs, and top-level metrics to understand the ecosystem better. It's designed to provide in-depth insights for developers and make the Wormhole ecosystem more user-friendly and transparent.
2. deBridge Partners with Helius
deBridge has partnered with Helius to bolster its Solana stack infrastructure. Helius provides custom Datadog dashboards for better observability and insight into the network's operations.
With features like request batching, efficient quota usage, and lowered latencies by global deployment, Helius is set to significantly optimize deBridge's cross-chain experience.
Image source: https://twitter.com/deBridgeFinance/status/1714627542269743607/photo/1
3. Major Upgrade Announced for Stable Coin XOXS by XOX Labs
XOX Labs announces a significant upgrade to its stablecoin, XOXS. The upgrade will allow direct purchases of XOXS, offer competitive staking APY, and introduce a marketplace for trading XOXS.
Other benefits include XOX bonuses, company revenue sharing, incentives, and early allocations in launchpad projects.
4. AshPerp Devnet Goes Live with Decentralized Perpetual Trading
AshPerp's Devnet is live, introducing the first decentralized perpetual trading protocol on MultiversX.
It offers futures trading on coins like BTC, ETH, and EGLD, with up to 100x leverage on token trading.
The platform also features Synthetic Leverage in its Perpetual Vault and one-click deposits and trades for user convenience.
Image source: https://twitter.com/ash_swap/status/1714627451748573409/photo/1
🔥What’s Trending
1. Uniswap v4 and UniswapX Elevate Crypto Swapping Experience
Uniswap v4 and UniswapX join forces to redefine the crypto-swapping experience by addressing liquidity and routing issues.
Uniswap v4 enhances pool customization, permitting a bunch of AMM pools. At the same time, UniswapX tackles the routing problem by creating a competitive marketplace where "fillers" contest to find the best price for swappers.
By segregating routing and liquidity into two problem spaces, Uniswap now offers a more efficient, cost-effective swapping experience.
Image source: https://blog.uniswap.org/how-uniswapv4-uniswapx-work-together
2. Hope Lend DeFi Protocol Suffers Major Exploit
The Ethereum-based DeFi protocol, Hope Lend, experienced a severe exploit, leaving it with almost zero assets.
On October 18, 2023, two individuals reportedly stole 526 Ether (ETH), valued at $825,357, from the protocol.
Despite the loss, other protocols and products on Hope.money remain unaffected, emphasizing their commitment to protecting users and ensuring the security of remaining funds.
Image source: https://cointelegraph.com/news/ethereum-defi-protocol-hope-lend-drained-after-exploit
3. Ethereum’s Layer 2 zkEVM Scroll Mainnet Goes Live
Scroll, a new zero-knowledge Ethereum Virtual Machine (zkEVM) player, has launched its mainnet.
Following 15 months of extensive testing and security audits, this L2 chain offers lower transaction costs and higher throughput for decentralized applications.
Image source: https://twitter.com/Scroll_ZKP/status/1714286874020528554/photo/1
📊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. Cross-Chain DeFi Lending Explored on Cointelegraph's Podcast
Cointelegraph's "Hashing It Out" podcast featured a discussion with MultiChainZ's COO, Aanchal Thakur, on cross-chain DeFi lending.
They discussed the unique aspects and risks of cross-chain lending platforms compared to traditional ones.
2. Coingecko: “Ethereum Liquid Staking Blossoms”
The 2023 Ethereum Liquid Staking Report highlights the growth and challenges in the sector.
Liquid Staking Derivatives (LSDs) were designed to aid smaller ETH holders in staking, which saw a significant uptick post the Shapella event.
The report summarizes all the available stats, shedding light on the new technology.
👨💻 Get Started with Swing Today
📓 Learn more about Swing:
Website | Docs | Developer Hub
👥 Join the community: