Osmosis Co-Founder Sunny Aggarwal has questioned the effectiveness of Ethereum’s staking model as it will not enable withdrawal of staked ETH post-merge. Currently, there are 13.7 million ETH staked on the beacon chain. According to the PoS design, the assets will remain locked until the Shanghai update goes live in the future, In a commentary … Read more
The biggest news in the cryptosphere for Sept. 8 includes Coinbase financing the lawsuit against the U.S. Treasury Department over Tornado Cash, Terra Classic’s community-led revival and an attack on the New Free DAO protocol. CryptoSlate Top Stories Bitcoin holds steady as ECB implements 75 bps rate hike Despite European Central Bank’s (ECB) announcement regarding … Read more
Cross-chain liquidity provider Bitfrost has collaborated with Coinbase Cloud to offer its liquid staking service on the Kusama network, according to a Sept.6 announcement. Bifrost was built using the cross-consensus messaging (XCM) system which allows for easier transfer of liquidity for assets staked across the Polkadot ecosystem. The collaboration will see Bifrost leverage Coinbase Cloud‘s … Read more
In 2019, as part of the Matic Network (now, Polygon) token distribution, 12% of the MATIC token’s total supply was allocated for staking rewards to be released over a five-year period. Now that two years have passed, a report is being shared on the progress seen in the Polygon PoS network so far and an … Read more
Dystopia, a decentralized exchange (DEX) designed to offer improved emissions and incentive mechanisms, is launching on Polygon. The platform is the first DEX on Polygon to use the ve(3,3) model and provides users with a seamless swap experience for both closely correlated and non-correlated asset pairs at a nominal 0.05% trading fee. The platform enables … Read more
With over 1.7 million governance token holders and an aggregate of $10.5 billion in total treasury holdings, 2022 is quickly becoming the year of the DAO. Among those leading the charge is Kronos DAO, the Klaytn network’s first and largest DeFi 2.0 protocol. Now, Kronos is coming to Polygon. Kronos DAO is the first decentralized … Read more
Ethereum’s(ETH) transition from a proof-of-work (PoW) to a proof-of-stake (PoS) consensus mechanism — the so-called Merge — will not happen in June as many have predicted. As reported by CryptoSlate on April 14, Ethereum core developers will not yet be ready for the merge before the end of the third quarter. The highly-anticipated merge will mark … Read more
When it comes to real world use cases of blockchain technology, decentralized finance (DeFi) and non-fungible tokens (NFTs) are the undisputed core pillars of Web3. But as activity for both has come down from recent peaks, the question is whether the key to sparking new growth lies at the intersection of the two communities. The … Read more
Meshswap, an automated market maker (AMM) based decentralized exchange (DEX) protocol — is going live on Polygon later this month. Meshswap will bring more than 1 million users to the Polygon network, in addition to a supply of liquidity, and an initial airdrop of 1,500,000 MESH to Polygon’s MATIC and vKSP holders. Meshswap provides users … Read more
