Daily 10: More Milestones for Open Finance on Ethereum Blockchain as Rival Reveals Cash-Strapped Woes

February 1, 2019








1st of February and the crypto space is firing! The amount of ecosystem developments – day in, day out – never fails to astonish me. Just in the past day or two, there have been a multiple projects releasing their product live on the Ethereum mainnet, whilst others have announced the closing of successful fundraising rounds.


To help you stay on top of all that’s been going on over the past 24-48 hours, I put together a 25-part thread. Can’t be bothered looking through the whole thing? All good! Below, I’ve put what I considered the ten most noteworthy inclusions. Enjoy!


[1] ConsenSys-backed Nuo – a financial control centre to store, spend and grow your crypto assets – announced had gone live on the Ethereum mainnet! Nuo were one of the sixteen projects that formed ConsenSys Ventures’ first-ever Tachyon accelerator program late last year.


Users can deposit any of the following ERC20-compliant tokens to earn interest every day: ETHDAIKNCZRXMKRAEREPBAT and WBTC. Also, ETH borrowers can stake tokens as collateral through Nuo. The team have generously open-sourced their smart contracts to commemorate the launch.


[2] The NEM Foundation, a non-profit entity behind the NEM (XEM) blockchain, has a month’s cash to operate on, according to a message issued to the community. A report of a restructure and funding request (to the NEM community fund) is being finalised and will be shared soon. Upon review by core devs and legal team, audits will also be released. CoinDesk is reporting the Foundation intends to request 160 million XEM tokens (~$7.5M USD).


[3] New York-based Staked announced the closing of its Pantera Capital-led $4.5M seed round! Some well-known investors from the crypto ecosystem participated: Coinbase Ventures, Global Brain, DCG, Winklevoss Capital, Fabric Ventures, Applied Crypto Ventures and Blocktree Capital. Staked helps institutional investors stake or lend their holdings in certain cryptocurrencies (currently: Tezos (XTZ), Dash (DASH), Decred (DCR), Livepeer (LPT), Factom (FCT) and EOS (EOS)). Expect the staking-as-a-service space to grow throughout 2019.


[4] Ren Protocol (REN) announced the long-awaited release of SwapperD, a wallet with built-in atomic swap capabilities that allows for trustless swaps between crypto assets. Initially, SwapperD will perform cross-chain swaps using traditional hash time-locked contracts (HTLCs), meaning that HTLC-friendly blockchains such as Bitcoin, Litecoin, Ethereum, Zcash, and EOS will support SwapperD from the outset.


[5] Settle – an operating system for decentralised finance – unveiled DEX.AG, an app built by Timur Badretdinov that lets you instantly compare prices across non-custodial exchanges, or, as they are commonly referred to as, decentralized exchanges (DEXes). Users can now think of DEXes in the “ag”gregate, with DEX.AG removing need to navigate between many interfaces in pursuit of the best available price.


[6] Lo and behold, several hours later saw AirSwap (AST) introduce their own DEX aggregator known as DexIndex, an open-source tool “that searches Ethereum decentralized exchanges to find the best token prices.” Check it out!


[7] Katallassos – a standard framework for finance built on Parity’s Substrateannounced its use of Chainlink’s (LINK) decentralized oracle network for its off-chain data feed connector.


[8] Formal verification platform for smart contracts and blockchain ecosystems, CertiK, announced the successful verification of NKN’s self-titled token project. With this, they declared NKN “qualified to be listed on [their] partnered exchanges,” the likes of which include Binance, OKEx, Huobi, Bibox, and Coinsuper.


[9] There’s now over 2,000,000 ETH locked in MakerDAO’s Dai Credit System! Per a tweet from Mariano Conti (Developer, Maker), that’s 92.79% of all wrapper ether (wETH), 1.91% of ETH currently in existence, and equates to ~$218M worth of ETH backing >$75M worth of DAI.

When did the first million ETH become locked up in Maker CDPs? November 14th. That’s when.


[10] It took 6 rounds of disputes, but Augur’s REP stakers have concluded the Democrats won the 2018 U.S. Midterm Election (yeah, the one way back on November 6th)!

For context, read Ryan Yi’s (Analyst, CoinFund) writeup on what was the Augur dispute resolution mechanism’s biggest test to date. TL;DR: Augur’s sole Genesis Universe remains intact, and the chance of a fork (i.e., the Genesis Universe becoming a Locked Universe and a new Child Universe being created) occurring has been put to bed, for now anyway.


Want to see all 25 parts of today’s thread? All you have to do is click through down below.

I compose threads like these several times a week. Following @mwill_crypto will allow you to read them hot off the press. If you loathe a clogged feed then, by all means, give me the flick and follow @NuggetsNewsAU instead. They actually do interviews and what not. Whereas I…well I just tweet about them!

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