Crypto EcoBlog
Following its successful launch on the Polkadot Mainnet this week, Acala, an Ethereum-compatible DeFi protocol for scaling dApps, has revealed what lies ahead for the project. Acala’s Core Products Coming Soon The Acala team noted in an official press release seen by CryptoPotato that it intends to begin launching all of its core products soon. These include decentralized exchange (DEX) Acala Swap, upgraded Ethereum Virtual Machine (EVM+), decentralized stablecoin, aUSD, and...
Read More »Top 10 Most Expensive NFTs Ever Sold (Updated 2022)
2021 was the year when cryptocurrencies and blockchain technology witnessed massive growth, both in market capital and infrastructure development. One thing that caught the attention of the crypto community and the mainstream audience was the rise of non-fungible tokens (NFT). In case you’re unfamiliar with what these are, please take a look at our video guide on NFTs, or its written version. They saw exponential growth in 2021, as the digital space was being reshaped by the...
Read More »Cosmos-Based Privacy Startup Nym Onboards Network Validators
Privacy-focused startup Nym Technologies has developed the first block for its Nym mainnet and has started onboarding validators ahead of its mainnet launch. Onboarding Network Validators In a press release shared with CryptoPotato on Wednesday, Nym noted that it has welcomed some top firms as its network validators, including the telecommunications giant Swisscom, Dokia Capital, Chorus One, Nodes.Guru and a few others from the community like Commodum. The validators will...
Read More »OlympusDAO Establishes OHM as a Liquid Asset within the Balancer Ecosystem
The decentralized finance protocol OlympusDAO collaborated with Balancer to set up OHM as a liquid asset within the latter’s network. CopperLaunch and PrimeDAO will facilitate the front end of the Liquidity Bootstrapping Pools (LBPs) by adding OHM as a collateral token. The Specifics of The Project According to a document seen by CryptoPotato, the decentralized reserve currency protocol – OlympusDAO – will initially deploy $50 million of liquidity to Balancer Protocol. The...
Read More »Study Shows 1,000 Projects Control $100 Billion Worth of Locked DeFi and Web3
A recent report by Electric Capital Developer shows that more developers are getting involved in the decentralized technology space. The 2021 paper shows that $100 billion worth of smart contracts has been locked in Web.3.0 project platforms. $100 Billion Controlled by 1,000 Developers DeFi projects which rarely record remarkable success are also among the focus of the study. Among the most intriguing aspect of the data leads to some centralization, as the majority of the...
Read More »Twitch-backed SYN CITY Receives an Investment From Overwolf
According to a Friday PR, Gaming platform Overwolf is making an investment in SYN CITY, a blockchain-based Mafia Metaverse gaming platform, which is formally opening on January 8. With over 95,000 creators, Overwolf is a significant player in user-generated gaming content. SYN CITY is a brand new platform built on blockchain and intends to offer a gaming experience in the metaverse. The latter promises to bring gameplays on mafia and crime syndicate themes. Built by...
Read More »While BAYC Spiked 35% in 90 Days, Other Popular NFT Collections Plunged in Value
The world of NFTs continues to boom as more and more people seem attracted to the idea of scarce digital art. However, while some projects are surging in value, others are on a rather downward slope. Data reveals that over the past three months, the floor price, which is the lowest price for a non-fungible token (NFT) from a certain collection, for the Board Ape Yacht Club NFTs increased by a considerable 35%. As CryptoPotato reported earlier in December, the floor price for...
Read More »MetaMask Teases In-App NFT Extension
MetaMask is one of the most popular non-custodial wallet applications with millions of active users. Now, it also teases that in-app non-fungible tokens will also come to life soon. CryptoPotato reported earlier in November that the popular non-custodial wallet MetaMask has reached a whopping userbase upwards of 21 million. MetaMask is in the middle of the ongoing DeFi boom as it’s the most popular wallet. Now, the team also teased about upcoming NFTs on the MetaMask browser...
Read More »DeFi Protocol Grim Finance Exploited for $30 Million Worth of FTM
The self-described compounding yield optimizer – Grim Finance – has reported being hacked in a reentrancy exploit with the attacker swiping up to $30 million worth of Fantom tokens. The DeFi protocol took it to Twitter on Sunday to inform its users about the hack. The team described it as an “advanced attack,” in which the perpetrator exploited the project’s vault contract through five reentrancy loops. This enabled the attacker to fake five additional deposits into a vault...
Read More »Uniswap Introduces Auto Router Support on Layer 2 Networks
Uniswap Labs – the developers behind Uniswap, the largest exchange in DeFi – released a series of important features to enhance pricing as well as optimize the gas cost of swaps. What Does the Update Have in Store? Uniswap Labs have now released an updated Auto Router that enhances trade prices to a greater extent by routing trades across both Uniswap v2 and v3 pools. With this, users will be able to track the true cost of a swap in real-time directly from the App interface....
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