Wallets: April headlines

- Robinhood Launches 'Connect' to Link Native Crypto Wallet to DeFi Apps: an update that will allow users of its crypto wallet to access their credentials and funds directly from decentralized finance (DeFi) protocols and applications—all without having to open the Robinhood app itself (source)
- Trust Wallet Fixed Vulnerability But Warns $88,000 of User Funds Are Still at Risk: “Despite our best efforts to minimize loss, we proactively identified 2 likely exploits with a total loss of $170K,” the project said on Twitter. “To do right to users, we created a reimbursement process for affected users to make them whole.” (source)
- Uniswap Launches Mobile Wallet. The wallet is intended to enable users to buy crypto, offering what the protocol says is a competitive 2.55% fiat on-ramp fee. Users can also swap funds on popular DeFi platforms, including Polygon, Arbitrum and Optimism. The wallet features in-app token price and NFT data, allowing users to favorite tokens and wallet addresses so they can track the trading activity that matters most to them. (source)
- MetaMask Denies Wallet Draining is Due to Exploit, which is a response to a Twitter thread tracing fund related to the loss of about 5,000 ETH. According to the wallet provider, an attacker withdrew 5,000 Ethereum (ETH), worth about $10 million, from different addresses across 11 blockchains rather than only from MetaMask users. (source)
- Trust Wallet Partners With Web3Auth to Simplify Web3 Onboarding Using Social Logins, the solution eliminates the current requirement of a written-down seed phrase, safeguarding users from human error and a single point of failure and thus strengthening account safety and security (source)

#wallet #April2023 #trends

Payment solutions: April headlines

- Alchemy Pay Raises $10M at $400M Valuation to Push South Korean Expansion Plans - the funding came from DWF Labs, its eighth investment of $10 million or more in the last six weeks (source)
- FedNow is set to launch in July: U.S. Federal Reserve wants to release a real-time payments and settlements service in order to boost the country’s infrastructure. Experts ask: Why not use crypto? (source)
- Stablecoin payments: Visa shares plans for ‘ambitious’ crypto product: According to a Visa job posting published on April 20, the company’s crypto division is building the “next generation of products” to facilitate the digital commerce of everyday life (source)
- NOWPayments, a Renowned Cryptocurrency Payment Provider, Integrates Shibarium for Efficient Crypto Payments - this integration allows NOWPayments to cater to the needs of various projects and tokens that operate on the Shibarium network (source)

#paymentsolutions #April2023 #trends

Web3 Creator Economy: April headlines

- Mastercard Drops Free NFTs, Launches Web3 Music Accelerator: Music Pass NFT allows musicians to access its Mastercard Artist Accelerator Program, giving artists tools and resources to bolster their Web3 music careers (source)
- Nfinity.io launched a Decentralized SocialFi Platform, Transforming the Web2 Social Media Landscape, the platform seamlessly integrates incentives with content creation and dissemination (source)
- Roblox, the dominant online gaming platform, recently rolled out a new class of wearable virtual goods that can be sold in limited quantities by third-party creators, per a recent company announcement. The goods, called Limiteds, can also be resold by Roblox users at any price of their choosing, with a 10% cut of each secondary sale going to the original creator (source)

#creatoreconomy #April2023 #trends

Metaverse: April headlines

- What is Apple's Approach for the Metaverse? Apple is yet to confirm the rumours of it launching a long-rumoured VR or virtual reality glass at its annual Worlwide Developers Conference in June (source)
- Mark Zuckerberg denied the ‘narrative’ that he’s ditching the metaverse and he unveiled a new goal: bringing ‘A.I. agents’ to ‘billions of people’, previously Zuckerberg fired off a series of figures and metrics showing progress in the metaverse: More than one million Meta avatars have been created; Half of the people who use the company's Quest VR headset every day spend more than one hour inside its virtual realm (source)
- Shiba Inu's Metaverse Will Partially Open by End of 2022 - the metaverse is unlikely to be fully completed on release as it will be an “ongoing project,” developers said (source)
- UK’s New Technology Department to Tackle Country’s Metaverse, Web3 Strategy: the department will explore economic growth, investment and business opportunities in these areas, as well as implications on regulation (source)
- AI Will 'Accelerate' the Metaverse, Empower Creators: The Sandbox Co-Founder: “What used to take days before, from ideation and conception, can now take just a matter of seconds,” Borget told CoinDesk TV’s “First Mover” on Thursday. AI will “accelerate and empower even more creators,” he said. (source)

#metaverse #April2023 #trends

DeFi: May headlines

- Curve Finance Deploys Decentralized Stablecoin on Ethereum - crvUSD is an over-collateralized stablecoin backed by assets like USDC, Ethereum, liquid staking derivatives like Frax’s sfrxETH, and liquidity provision tokens of stablecoin pools (source)
- Cardano DeFi Total Value Locked Hits 400M ADA Milestone - in US Dollar terms, DeFi activities on Cardano had grown consistently since the start of the year when the TVL was just around $50 million (source)
- Tenet, LayerZero partner to drive cross-chain liquid staking adoption - Tenet’s network allows users to create projects and tokens which will now be integrated with LayerZero technology. The interoperability opens up users to the broader DeFi ecosystem across a variety of smart contract blockchains (source)
- DeFi space braces for possible increase in DAI savings rate from 1% to 3.3% - MakerDAO’s proposal to raise the DSR follows a series of rate hikes imposed by the U.S (source)
- Uniswap to Launch on Polkadot via Moonbeam Parachain - the decision follows a near-unanimous governance vote first championed by Blockchain at Berkeley, a student educational group linked to UC Berkeley, and brought back to life by Blockchain at Michigan, another educational organization (source)
- DeFi Project Bancor Hit With Lawsuit Over Impermanent Loss Protection Promises - investors claim promises fell short, adding that Bancor’s DAO was centralized and its liquidity pools operated as unregistered securities (source)



#DeFi #May2023 #trends

Wallets: May headlines

- Ledger Crypto Wallet Under Fire Over Seed Phrase Recovery Service - in a nutshell, it’s an ID-based key recovery service that backs up users’ seed phrases. To use the service, users must provide a passport or national identity card to confirm their identity. While this service requires users to opt-in and pay a $9.99 monthly fee, some are concerned that this could even pose a security risk for those who don't opt in (source).
- PayPal Ventures Leads $52M Round for Crypto Firm Magic - the startup offers non-custodial wallet infrastructure for an enterprise client list that includes Macy’s and Mattel (source)
- Decentralized Wallet Developer Odsy Network Raises $7.5M at $250M Valuation - the funding round was led by Blockchange Ventures and included participation from Rubik Ventures, Node Capital and FalconX among others (source)
- Openfort Raises $3 Million for 'Frictionless' Web3 Gaming Wallet - Openfort is building infrastructure for game developers and aims to reduce the number of times gamers have to engage with the blockchain (source)
- Crypto Storage Firm Qredo's Revamped Self-Custody Wallet Goes Live - The New Qredo remains aimed at the institutional crypto market, but now it's low-cost and open to anyone, says COO Josh Goodbody (source)

#trends #wallet #May2023

Crypto Payment Solutions: May headlines

- Ethereum: Payment Giant Visa Deploys First Paymaster Smart Contract on ETH Testnet - on March 1, 2023, ERC-4337 was rolled out to the Ethereum mainnet, adding the ability for smart contracts to transact on behalf of the user (source)
- Tether and Strike have partnered to make USDT easily available for transactions via Strike's payment platform, the payment app is in expansion mode and has announced the move of its headquarters out of the United States (source)
- Stripe Rolls Out New Fiat-to-Crypto Onramp To Make Digital Asset Purchases More Convenient - Web3 companies can now direct their US-based customers to the link without the need for any access code (source)
- Transak Raises $20M - the startup offers on- and off-ramps that could make it easier for new users to interact with Web3 project (source)
- Argentina Bans Payment Apps From Offering Bitcoin to Customers - the central bank said Thursday that payment platforms cannot offer crypto trading services to their customers (source)

#trends #May2023 #paymentsolutions

Metaverse: May headlines

- Alibaba Cloud Builds Metaverse Launchpad on Avalanche named Cloudverse, the launchpad is designed to provide an end-to-end platform for companies to customize and maintain their metaverse spaces (source)
- Top metaverse property investments suffer massive losses - Report: Popular metaverse properties, such as Otherdeeds, The Sandbox, Decentraland, Somnium and Voxels, have all depreciated in value over the past year (source)
- Chinese city releases policy draft for metaverse industry development - the policies include a series of cash benefits to attract metaverse-related companies to set up shop in the city (source)
- BuzzAR and Cypher Capital team up for Metaverse project - the partnership will allow the companies to leverage proprietary generative AI technologies on its Metaport (source)

#metaverse #trends #May2023

DeFi: June headlines

- Real-world asset protocols outperform DeFi blue chips due to tokenization wave. The top uncollateralized lending protocols for institutions, TrueFi and Maple, have increased by 26.6% and 117.8%, respectively, in 2023. Centrifuge, a real-world asset tokenization platform, has surged by 32% year to date (source).
- DeFi Platform EigenLayer Rolls Out Restaking Protocol on Ethereum Mainnet, EigenLayer's developers raised $64.5 million in a series of investment rounds (source).
- Arbitrum-Based DeFi Project Chibi Finance Rug Pulled: Over $1 Million Drained: On-chain analysis conducted by blockchain security platform CertiK revealed that Chibi devs deployed a malicious contract that enabled them to steal user funds from the protocol’s smart contracts (source).
- DeFi Protocol Maverick Raises $9M Led by Peter Thiel's Founders Fund, the round also included contributions from Pantera Capital, Binance Labs, Coinbase Ventures and Apollo Crypto (source).
- BlackRock Executive: Knowing Who Counterparties Are Is Key to Engaging Institutions in DeFi. Issues such as the automated market making in DeFi instead of central order limits books are just fig leaves, said Chalom. "We need clear understanding of who is in a pool" (source).

#DeFi #trends #June2023

Wallets / Payment Solutions: June headlines

- PayPal invests in new crypto wallet service. PayPal has announced a substantial investment in Magic, the strategic funding round, led by PayPal Ventures, raised $52 million for Magic, with additional investments from Cherubic, Synchrony, KX, Northzone and Volt Capital (source).
- Atomic Wallet Hackers Use THORChain to Conceal Stolen $35M Funds: the hackers, believed to be North Korean hacking group Lazarus, have been using cross-chain bridges and liquidity protocols to mix stolen funds (source).
- Crypto​.com joins ranks of licensed payment institutions in Singapore: with the MPI license, Crypto.com is now authorized to offer its DPT services to customers in Singapore (source).
- Crypto Payments Firm Wyre Winding Down Due to ‘Market Conditions’. Wyre is ceasing operations less than a year after it was valued at $1.5 billion in an abortive acquisition by Bolt (source).
- Binance struggles in Europe continue as it has lost its EURO payment partner - Paysafe,its Euro payment partner, will stop its bank transfers services from September 25 (source).
- Mastercard plans beta for a blockchain ‘app store’ for ‘regulated’ financial apps. Mastercard said it was planning to launch a beta in the U.K. over the summer to test what it calls the Multi Token Network, or an “app store powered by blockchain technologies for building regulated financial applications” (source)



#wallet #paymentsolutions #trends #June2023

Web3 Creator Economy: June headlines

- Mythical Games Secures First Close of $37 Million Towards Latest Round of Funding. The round was led by digital asset manager Scytale Digital, with participation from ARK Invest, Animoca Brands, PROOF, Stanford Athletics, MoonPay. Existing investors, including Andreessen Horowitz, Gaingels, Signum Growth, Struck Capital, and WestCap also participated in the round. Mythical is a next-generation games technology company creating a web3 gaming ecosystem by leveraging blockchain technology and playable NFTs for tools that enable players, creators, artists, brands and game developers to become stakeholders and owners in new “play and own” game economies (source).
- NFT Creation Platform Zora Launches Creator-Focused Layer 2. In a statement to CoinDesk, a spokesperson for Zora said that the platform has been building a "culture of creativity and community" since its inception, putting artists and creators at the forefront of its products (source).

#creatoreconomy #trends #June2023

Metaverse: June headlines

- Consumers appear less interested in more futuristic offerings, want real-world applicability, are least interested in fashion and beauty, loosing interest in metaverse socializing - McKinsey & Company (source)
- Apple bets on the metaverse: Apple unveiled its long-awaited entry into virtual reality, or what the tech giant calls “spatial computing,” in the form of the Apple Vision Pro, a $3,500 device that looks like exquisitely designed futuristic ski goggles (source).
- Banks Have Come to the Metaverse. JPMorgan arrived in Decentraland under the brand Onyx, which, according to the company, is “a blockchain-based platform for wholesale payment transactions.” DBS, Singapore’s biggest bank, purchased a large plot of land on The Sandbox to develop interactive experiences aimed at promoting a more sustainable world. South Korea’s Kookmin Bank has its own native metaverse-based financial services as well as one-on-one customer service (source).

#metaverse #trends #June2023

Is there any money to be made in blockchain oracles? How do we bring oracles to TON?

These are the themes that we explored in our “Oracles: Revenue and Tokenomics” report. Here are the key findings:

- The typical revenue model involves validators setting a fee for a data request to cover their gas and maintenance costs, while users pay for each request. Validators use the platform’s token as collateral, and the protocol selects the validator with the most staked tokens to fulfill the request. As a result, fees represent most of the protocol’s revenue, while demand for the utility token creates upward pressure on its price. Oracle protocols also receive grants from foundations and compensation from Web2 organizations for integrations and consulting services.
- Monetizing oracle platforms can be challenging. Popular platforms do not disclose their profits, but it is believed that most of their revenue is distributed to node operators and token holders through node incentives and staking rewards. While Chainlink is not viewed as a for-profit project, it likely generates revenue through partnerships and integrations with its commercial entity, SmartContract Chainlink. However, specific revenue figures are not publicly available.
- Attracting a partner is likely to be a better option from the standpoints of market saturation and development complexity. There are various partnership options, including partnerships between entire networks or individual projects and an oracle provider, collaborations between foundations and oracle providers, running a node in exchange for the oracle provider’s decentralized services, or the participation of individual projects, such as DEXs or DeFi protocols, in the oracle provider’s acceleration programs.
- Building our own TON oracle is the preferred option if our objective involves exploring business models such as data marketplaces for individuals and organizations within the TON ecosystem. By relying on a TON-based oracle, we can ensure that TON captures all of the economic benefits generated by data requests.

Don't forget to leave a like on our Medium post and subscribe to stay updated on our regular reports. Also, check out our Hackernoon post here.

#DeFi #oracles #July2023 #report

We published our second quarterly report The State of TON DeFi Q2 2023. Please support us with your likes and subscribe to our Medium to stay updated on the developments in the ecosystem.

Key highlights of this quarter:

- TON Foundation’s Liquidity Mining Campaign caused a surge in TVL with a substantial increase of 30.4% compared to the previous quarter. Notably, TON’s TVL growth rate outpaced that of its peers.
- During this quarter, the liquid staking protocol, bemo, was launched, and Tonstakers, OpenStake, and Hipo Finance were also announced.
- TON saw the introduction of two new DEXs: Flex, a trustless DEX, and Storm Trade, the first DEX for synthetic assets on TON, which is currently in its testnet phase.
- TON Bridge was officially launched and is now supported by DeDust and Flex.

Our previous reports can be found here:

The State of TON DeFi Q1 2023
TON: DeFi Landscape

#DeFi #July2023 #Q2_2023 #TON

Check out our new report "GameFi and User Monetization". The report highlights common monetization sources in GameFi dApps and explores the potential for new revenue streams. Here are the key takeaways:

- Popular monetization sources range from Play-to-Earn modes, in-game purchases, and NFTs to integration with traditional gaming and gaming investment funds.
- Future revenue streams could come from integrating SocialFI mechanics, hosting e-sport competitions, or implementing GameFi in traditional education and training models through blockchain gaming.
- TON & Telegram offer a unique advantage for GameFi dApps: seamless transactional experience, minimal compliance constraints, and the ability to seamlessly exchange Web3 assets with other users in Telegram's chat interface. However, the convergence of Telegram and GameFi projects remains a challenge that the community needs to address.

#GameFi #NFT #August2023

The State of TON DeFi Q3 2023 is now live. The standout development of the quarter is the surge in liquid staking, underscoring the growing demand for flexible capital efficiency tools within the ecosystem.

Key highlights of this quarter:

- The launch and rapid growth of liquid staking protocols, such as bemo and Tonstakers, are mitigating the decline in TON TVL following the end of the Liquidity Mining Campaign. Notably, both Tonstakers and bemo currently hold the top positions by TVL in TON, with the latter also making an appearance in CryptoRank's "Top-10 Liquid Staking Projects by 30D TVL Growth."
- STON.fi launched the first farming program in TON Ecosystem.
- The official TON-Ethereum bridge now supports transfers of all ERC-20 standard tokens to and from TON Blockchain and supports Wallet Connect.
- DAOLama, an NFT lending platform, and TonUP, a launchpad, are two new projects that were launched on TON this quarter.
- The unveiling of Wallet in Telegram and TON’s role in building Telegram’s Web3 ecosystem are positioning TON’s DeFi as the ultimate decentralized alternative to traditional banking.

Our previous reports:

The State of TON DeFi Q2 2023
The State of TON DeFi Q1 2023
TON: DeFi Landscape

#DeFi #October2023 #Q3_2023 #TON

How to achieve EVM compatibility in non-EVM blockchains? Find out in our new report.

Key takeaways:

- The most commercially successful cases of bringing EVM capabilities to non-EVM compatible blockchains are Aurora (a smart contact on NEAR that executes an EVM code), Moonbeam (a parachain on Polkadot) and Kava (a sidechain on Cosmos). Lido on Solana, which made up 19.2% of Solana’s TVL, is also a notable case, however, the transfer of Lido to Solana did not involve any solutions for EVM compatibility.

- Developing a workchain built on the EVM to support Solidity smart contracts appears to be the most feasible approach for TON, enabling Ethereum-based dApps to be deployed on TON, while utilizing TON’s unique “blockchain of blockchains” structure.

- Implementation strategies may include adopting an independent blockchain as an internal EVM compatible workchain (possibly with acquisition) or partnering with a provider of L2 solutions to build an alternative solution, such as a rollup. These are the strategies implemented by other blockchains, such as Venom (acquisition of Everscale) or Cardano and Algorand (partnership with Milkomeda).

#DeFi #November2023 #report

From Bots to Mini Apps: Unveiling Telegram’s Web3 Ecosystem

Mini Apps are the latest addition to the Telegram ecosystem, that enhances all the features of common bots and function as independent websites within a bot. Mini Apps are the key components of Telegram's Web3 landscape, powered by Wallet and Wallet Pay. Wallet and Wallet Pay were unveiled at the Token2049 event in Singapore, marking a significant milestone for both TON and Telegram and serving as a central piece in the announcement of their partnership.

In this report you will learn about:

- The Telegram Bot tokens rally which led to its current $288.48 million market capitalization
- The history of Telegram Apps and how Mini Apps fit into the picture
- Capabilities and powerful arsenal of tools for community growth and engagement offered by Mini Apps
- Current landscape of the Telegram's Web3 Ecosystem with Wallet and Wallet Pay at its core
- Telegram Apps Center
- Resources for Telegram Mini App developers.

#November2023 #TON #Telegram #wallet