Weekly project updates: Stable coin summary, MakerDao’s End game plan, Neymar’s NFTs, and so on

Weekly_project_updates_Stable_coin_summary,_MakerDao's_End_game

Weekly stablecoin summary

Huobi will delist HUSD

Huobi Global will delist HUSD, a US dollar-pegged stablecoin, on October 28 at 8:00 UTC. HUSD deposits and withdrawals will be suspended, and stablecoin orders will be canceled. Huobi will convert HUSD to USDT at a 1:1 ratio until November 4. This conversion will be completed on November 4.

b. NEAR’s native Stablecoin USN will be terminated due to a lack of collateral.

On October 25, the NEAR Foundation announced that the USN, DCB’s NEAR native Stablecoin, lacked collateral and should be shut down. The NEAR Foundation contributes $40 million to USN conservation efforts.

According to DeFiLlama, NEAR Ecology’s TVL has dropped 44.92% from $247mn to $136mn since DAO Decentral Bank (DCB) took liquidity from Ref Finance’s USN pool to redeem USN on the same day.

Thala Labs completed a $6 million seed round with the Aptos Ecostablecoin agreement.

On October 26, Thala Labs completed a $6 million seed round. Thala Labs is working on the overcollateralized decentralized stablecoin Move Dollar. It addresses peg stability, security, and capital efficiency issues in decentralized stablecoins.

d. Zunami, an Ethereum revenue aggregation protocol, introduces the native Stablecoin UZD.

On October 24, Zunami Protocol, one of Gitcoin’s thirteenth wave contributors, launched a native decentralized stablecoin UZD backed by Curve Finance, Convex, Stake DAO, and others. The Zunami Mechanism aggregates Ethereum revenue. Stablecoin simplifies user-DeFi protocol interaction and increases consumer mining revenue.

Laguna Labs has launched a stablecoin testnet.

Laguna Labs, a blockchain technology company, has launched a testnet for its stablecoin token, which is pegged to the cost of living in fiat currency or goods.

f. Arf, a stablecoin international payment network, raised $13 million.

Circle Ventures, Coinbase, Solana, FTX, and others will invest $13 million in Arf, a stablecoin cross-border payments network. Arf Credit, a stablecoin cross-border payment network, launched USDC-based short-term trade working capital in April.

MakerDao’s weekly recap

MakerDAO sends $1.6 billion USDC to Coinbase for hosting.
On October 24, MakerDAO transferred up to $1.6 billion USDC to Coinbase hosting in order to compete for institutional prizes.

The USDC Treasury granted Coinbase 99 million USDC.

On October 24, Whale Alert reported to Coinbase 99,000,000 USDC from the USDC Treasury.

MakerDAO approved The Endgame Plan.

Reorganizing The Endgame Plan was approved by MakerDAO voters on October 26th. The proposal was supported by 80.22% of the 141,971.4 MKR voters. MetaDAO will address governance issues in the Maker ecosystem and reduce congestion caused by single-threaded, slow decision-making.

d. The MakerDAO community is voting on Starknet DAI bridging fees until January 26.

On October 27, MakerDAO began voting on “Enable Starknet DAI Bridging Fee.” If approved, the Maker protocol Starknet DAI Bridge will enable tolling. The voting in Beijing will conclude on November 26.

Cardano’s weekly recap

SBF: Add Cardano (ADA) to the FTX roadmap.

FTX CEO Sam Bankman-Fried announced on social media that the trading platform will support Cardano (ADA). SBF also announced that FTX will offer Cardano-related perpetual futures to foreign clients (ADA).

Citaldoc, a telemedicine platform, conducted the ADA payment test.

Citaldoc, a Latin American telemedicine app testing ADA payments, completed its first test on October 24. And shared Cardano’s ADA test network’s successful handling of 10,000 ADA test transactions.

ADA transactions

According to CoinGecko data, ADA token prices rose 17% this week, while trading volume increased by 280%.

  1. The new Lido Community project aims to increase wMATIC reserves on Aave’s capital efficiency.

On October 25, Lido, a liquidity staking agreement, presented community ideas to increase the capital efficiency of wMATIC reserves on Aave and reduce borrowing costs to increase stMATIC use. 42.5% of wMATIC reserves have been used, with 72.5% expected. The proposal has received 99.99% approval.

  1. Changes the payment stream to NFT, casting when created and destroying Link when terminated. link

The Fundflow Protocol Superfluid announced on October 25th that all payment streams are now NFTS. Superfluid claims that this improves Web3 platform compatibility and Dapp interoperability.

  1. Gaming blockchain initiative Oasys will activate the primary network before November 22nd.

Oasys, a games-focused blockchain project launched on October 25 by Bandai Namco Entertainment and Sega, will launch its main network in three phases from October 25 to November 22.

  1. South Korean blockchain video game developer Wemade launches USDC-backed stablecoin “WEMIX” and DeFi service “Wemix.fi.”

Wemade, a South Korean blockchain video game developer, launched the USDC-anchored stablecoin “WEMIX” this week, anchoring the USDC and maintaining a $1 value. 11 million have been created. Wemade also launched the DIOS protocol, which allows WEMIX to be issued and destroyed in a 1:1 ratio with USDC. Wemade’s “WEMIX.Fi” DeFi service allows users to store, trade, and pledge its cryptocurrency as well as stablecoins.

  1. Sandbox weekly summary

The Sandbox will award Polygon 2.6 million SAND awards.

On October 26th, The Sandbox will distribute 2.6 million SAND awards to Polygon network LAND owners to commemorate the 1,000th day of the metaverse. The snapshot was taken on August 30 at 13:00 UTC based on the number of holds, their duration, and whether or not Polygon is bridged (21:00 UTC).

Lords of Dogetown: Sandbox Dogeboarding is now available.

The doge NFT will launch Sandbox Dogeboarding, which will include Play2earn and Meme2earn, Sandbox NFTs, Alpha S3 passes, and Doge Pixel NFTs.

  1. Ape’s weekly review

otherside Yuga Labs Yuga Labs will launch Metaverse Beta in 2023.
Yuga Labs co-founder Greg Solano stated in an interview on October 24 that The Otherside’s metauniverse, “The Persistent World,” will launch in 2023. Yuga Labs will give gamers access to the Eternal World, a multiverse experience, next year (Beta).

b. ApeCoin DAO will vote on Special Committee nominations this week.

BTang, a member of the ApeCoin DAO management team, recently proposed AIP-137, which allows the community to vote on special committee nominations. Proposal AIP-137 divides the nomination process into three stages, beginning with nominee notification on November 3. The second step is a 14-day “community discussion,” followed by a “community vote” in which the top five voters become candidates for the next special committee.

  1. Neymar will debut NFT cards during the World Cup.

On October 24, Neymar announced that his NFTSTAR whitelist JungleVIBES will make its debut during the World Cup. NFTSTAR will co-market “Beastmode Metaverse x Neymar Jr.” with NR SPORTS. At an exclusive meet-and-greet, NFT owners can meet Neymar and receive a limited-edition autographed collection.

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The post Weekly project updates: Stable coin summary, MakerDao’s End game plan, Neymar’s NFTs, and so on appeared first on NFT News Pro.



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