WWR #48: Manta Network's Token Bridge, HydraDX's Polkadot Leap, & Bifrost's Staking Surge

2024-01-29

Jan 21, 2024

Welcome back to our Weekly Web3 Recap – your guide to navigating the ever-evolving cryptoverse!

This is our 48th edition, and it's packed with some thrilling updates that you won't want to miss.

Here’s what we’ve got lined up for you this week:

Polkadot and SORA Unite: Discover how SORA's integration with Polkadot is setting new standards for cross-chain collaboration, making the exchange of assets smoother than ever.
Dive into Manta Network: Explore Manta Network's latest innovation, a Substrate-Native Token Bridge, and see how it's changing the game for token transfers.
DAO Time Crunch: The clock's ticking on #TheFutureIsDAO’s Phase 1. Grab your chance to win a slice of the 5M $VARCH pie before it's too late!
and much more…

We love hearing from you, so don’t hesitate to hit reply and share your thoughts on this week's topics. Let’s make this journey through the cryptoverse a shared adventure.

👉 Ready to dive in? Let’s get started!

Polkadot GENERAL NEWS

Bridging the Gap: SORA's Polkadot Parachain Goes Live!

The SORA Polkadot parachain is now successfully integrated with the Polkadot relay chain, enabling $DOT and $XOR assets to bridge across networks.
SORA's ambitious Integrated Plan progresses, promising more updates and enhancements for a seamless interoperability experience within the Polkadot ecosystem.

Swim Across Blockchain Seas: Manta Network Unveils Substrate-Native Token Bridge

Discover the ease of transferring MANTA tokens between Manta Network's MantaPacific and MantaAtlantic thanks to innovative cross-chain messaging (XCM) technology, facilitated by Celer Network's cBridge and Moonbeam Network.
We recommend to dive into the step-by-step tutorial.

The Clock's Ticking on Phase 1 of #TheFutureIsDAO – Secure Your Slice of the 5M $VARCH Pie!

Don't miss out on being one of the 700 savvy individuals racing against time in #TheFutureIsDAO event on TinkerParachain and bsx_finance – your chance to claim from the whopping 5,000,000 $VARCH pool!
Final call to action: Engage in the thrilling conclusion of Phase 1.

Astar Gears Up for dApp Staking v3: Here's What You Need to Know!

Lock in Your Rewards: As Astar prepares to roll out dApp Staking v3 on Shiden with a forthcoming release on the main Astar network, it's crucial for stakers and decentralized application (dApp) teams to claim any pending rewards this upcoming week to guarantee a seamless transition.
Stay Informed and Prepared: A host of announcements, extensive articles, and detailed documentation are on the launchpad—designed to help users familiarize with the nuances of dApp Staking v3 and navigate the migration like a pro.

Web3's New Frontier: Evan Thomas Spearheads Decentralized Social Media on Polkadot

The Web3 Foundation has bolstered the Polkadot ecosystem by granting Evan Thomas a Decentralized Futures sponsorship, aimed at crafting a novel decentralized social media architecture.
Thomas's initiative is not just a tech innovation but a community-centric model that merges the power of structured marketing with the ethos of community-driven contributions and participation.

Polkadot's Parachain Pioneers: Moonsama's Crowdloan Rewards Take Flight!

Moonsama celebrates its win of the 42nd parachain slot on Polkadot by rolling out crowdloan rewards, beginning a linear distribution from the TGE date, November 30th, 2023.
Allocating 1.5% of the total SAMA supply, Moonsama demonstrates its commitment to both supporting its backers and pioneering utility-driven Non Fungible Tokens in the evolving Web3 landscape.

Polkadot NFT NEWS

Web3 Visionary McForge Takes the Helm of Evrloot's Community Management

Strategic Community Revitalization: McForge, a seasoned Web3 connoisseur, steps in as the new Community Manager for Evrloot, focusing on rejuvenating the community starting with a comprehensive clean-up of Discord.
Fostering Engagement and Enjoyment: His arsenal of strategies includes not just maintaining harmony but amplifying fun with an influx of tournaments, events, meme fests, and collaborations—cementing a vibrant and well-cared-for community.

Rev Up Your Engines for a 10K GLMR Prize Pool with EXR Pink Racing!

Last Call for Crypto Racers: The EXR Pink Racing League's event with a tantalizing 10K GLMR prize pool is closing registrations in just 24 hours. It's time to shift gears – if you're all about that blockchain-based adrenaline, join the race that's free for all and loaded with rewards!
Grab Your Pink League Racer Pass: To drift towards the prize, secure your Racer Pass soon and engage full-throttle in the league activities. Don't miss the bonus chance – a lottery draw reserved for holders of this exclusive pass might just turbocharge your winnings!

Charting a Greener Future with Unique Network & Meta Carbon's NFT Climate Initiative

Unique Network collaborates with Meta Carbon to combat climate change by integrating carbon offsetting within the NFT space, aiming to transform eco-responsibility into a seamless aspect of the digital asset experience.
The partnership focuses on minting NFTs tied to the retirement of 25,000 kilograms of CO2 for each of the four certified climate projects, summing up a substantial 100,000 kilograms of carbon emissions offsetting, showcasing how blockchain technology can have a tangible impact on the environment.

Unlocking Creativity with Unique Network's Customizable NFTs on Subscan

Subscan's integration with Unique Network brings a game-changer for NFT enthusiasts: the ability to interact with digital assets in novel ways, including on-chain customization that layers additional NFTs, creating a rich tapestry of user-generated content.
The intersection of creativity and technology is pushed to new boundaries with these Customizable NFTs, offering infinite possibilities for artists, gamers, and developers to craft their own fully on-chain NFT collections, wearables, and digital fashion.

Polkadot DeFi NEWS

Revolutionizing Bitcoin Trades: WBTC/iBTC Stablepool Goes Live!

The newly launched WBTC/iBTC stablepool on HydraDX ensures lower slippage for all BTC trade types, enhancing the trading experience.
Experience ultra-low slippage on WBTC/iBTC swaps, a game-changer for liquidity providers and traders alike.

HydraDX: Polkadot's Gem Ready to Shine with Omnipool Innovation

Revolutionary Liquidity: HydraDX, a groundbreaking Polkadot application, is poised for the spotlight with its Omnipool feature facilitating permissionless liquidity pools and automated token swaps.
Sustainable & Community-Focused: The platform is buzzing with incentives like non-inflationary staking rewards, referral bonuses, and robust DAO treasury management, catering to a future-proof crypto economy.

Unlock Liquid Gold: Staking Manta for Airdrops & 50% APY

Harness Bifrost's omni-chain liquid staking protocol to stake your MANTA and potentially earn a whopping 50% APY, staying liquid while reaping the rewards of ecosystem airdrops.
As the third-largest rollup by value, Manta Pacific is making waves in the crypto sea, attracting new applications and becoming a hotspot for the current bull cycle with more airdrop treasures on the horizon for MANTA stakeholders.

Unlocking DeFi Potential with Liquid Staking: Over 766K DOT Amplifies Polkadot's Liquidity

Last week's surge in liquid staking on Bifrost saw over 766,000 DOT contributing to a more fluid and responsive Polkadot ecosystem, with several pivotal use-cases for vDOT coming to the forefront.
Key collaboration with platforms like HydraDX for Liquidity Mining and Yield DCA, the use of vDOT as Collateral on InterlayHQ and Starlay_fi, plus the addition of incentivized vDOT Farming Pools on Beamswapio, StellaSwap, arthswap, and bifrost.app, exemplifies the expanding versatility of DeFi in practical terms.

CRYPTO NEWS

Alameda Research Waves White Flag on Grayscale Lawsuit

Strategic Retreat: Alameda Research, aligned with the troubled FTX, retracts its legal action against Grayscale Investments, initially aimed to compel the investment giant to lower fees and permit shareholder redemptions, potentially unlocking over $9 billion in value.
ETF Transformation & Regulatory Dynamics: Amidst this legal shuffling, Grayscale converted its GBTC fund into a spot ETF, with billions in redemptions following closely. Moreover, the SEC's recent move to reconsider Grayscale's GBTC spot ETF conversion illuminates the evolving regulatory landscape for bitcoin products.

Revolutionize Your SOL: Join the Picasso Restaking Vault!

Launching January 28, Picasso’s restaking vault offers innovative staking options for SOL and its derivatives (jitoSOL, mSOL, bSOL), complete with a gamified staking competition to enhance rewards.
Governed by a robust 7-of-9 multisig, ensuring top-notch security, and featuring a slick user interface on mantis.app for a seamless staking experience; remember to bring your digital wallet to the party!

The Unraveling of a Crypto Reserve: Inside the TUSD and HTX Quagmire

HTX/Huobi's sudden discontinuation of its proof-of-reserves system sparks fears of insolvency, leading to a precarious struggle for TUSD to maintain its dollar peg.
A mysterious Tron-linked $3 billion entity exclusively mints and redeems TUSD, stirring concerns about the true backing of both TUSD and stUSDT amidst aggressive BTC and ETH purchases on Binance.

Bitcoin ETFs Hit a Bumpy Road: BlackRock and Fidelity Navigate Negative Flows

Spot Bitcoin ETFs, spearheaded by investments giants BlackRock's IBIT and Fidelity's FBTC, are witnessing a trend reversal with a notable $158 million withdrawal in a single day, primarily from Grayscale's GBTC.
Despite the recent dip in confidence, the overall market sentiment remains positive with these funds still managing robust net inflows totaling $ 824 million since their inception, and assets under management (AUM) nearing the $ 2 billion mark.

Uncle Sam Cashes Out: $130M Silk Road Bitcoin Headed to Auction

Silk Road Saga Continues: The US government gears up to auction off over $130 million worth of Bitcoin, once the currency of choice on the infamous Silk Road.
Shadow of Infamy: Linked to Ryan Farace and former Secret Service agent Shaun Bridges, these digital assets are the remains of a dark web marketplace's legacy.

The Long-Awaited Redemption: Mt. Gox's Repayment Move to 2014 Hack Victims

Identity Confirmation & Repayments: Victims of the colossal Mt. Gox heist are now seeing a glimmer of hope with emails hitting their inboxes for identity verifications. They're on the cusp of receiving repayments in bitcoin or bitcoin cash to their chosen exchange accounts.
Market Watch Alert: With only 20% of the lost treasure recovered, the release of such a significant number of BTC back into circulation has traders and hodlers alike speculating about potential impacts on Bitcoin's market value.

The FTX Effect: $1 Billion Grayscale Bitcoin ETF Dump Unpacked

FTX's bankruptcy estate liquidated a colossal $ 1 billion from the Grayscale Bitcoin ETF, culminating in a drastic reduction of its GBTC shares to zero and accounting for a major part of the $2 billion GBTC outflow.
With all 22 million shares offloaded by FTX, market analysts anticipate an eased selling pressure on GBTC, suggesting a potentially stabilizing period for the trust's trading dynamics.