Friend.tech v2 airdrop could introduce nontransferable token

Making the token nontransferable could force users to pay the 1.5% Friend.tech platform fee in an ironic shift from the platforms non-venture capitalist approach.

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Circle Speeds Up USDC Transfers with CCTP V2 Upgrade

Circle has announced a major upgrade to its Cross-Chain Transfer Protocol (CCTP), introducing version 2 (V2) with enhanced features.

The post Circle Speeds Up USDC Transfers with CCTP V2 Upgrade appeared first on Kanalcoin.

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$120 Million Of Aave Funds Stuck In Polygon, Good For Bears?

Following a recent update, over $120 million of Aave v2, a decentralized finance (DeFi) protocol for lending and borrowing tokens, user assets are “stuck” on Polygon. Bug On Aave v2 On Polygon The bug affecting withdrawals from Aave v2 deployed on Polygon, an Ethereum side-chain, has been pinned to the recent implementation of “proposal 224”.  [...]

The post $120 Million Of Aave Funds Stuck In Polygon, Good For Bears? appeared first on Crypto Breaking News.

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Why Bitcoin Mining Needs Stratum V2

Bitcoin mining is centralizing, but how real is the risk of network censorship? And can a protocol called Stratum V2 save the industry?

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Lido plans to level up ahead of Ethereum Shanghai hard fork upgrade

Liquid staking protocol Lido unveils upgrade plans for V2, set to unlock stETH withdrawals and introduce Staking Router architecture.

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Uniswap V3 was the most used Ethereum contract in 2022

Uniswap V3 has become the most popular Ethereum contract in 2022, ranking first when it comes to total gas used throughout the year.

The post Uniswap V3 was the most used Ethereum contract in 2022 appeared first on CryptoSlate.

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Crypto Firms Join Forces to Push for Stratum V2 Bitcoin Mining Upgrades

Spiral and Braiins lead efforts along with an industry working group to upgrade the current Stratum V1 protocol for miners. (Read More)

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Foundry Digital Donates 1 BTC To Developer Working On Bitcoin Mining Pools

The developer will work on a sub-protocol of Stratum V2, a communications protocol meant to improve miner collaboration, increasing the global hash rate.

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Purrfect match: The story of a young girl’s love of cats and NFTs

Inspired by her cat, Molly, 9-year-old Amelia launched her own NFT collection Ami's Cats last year, raising over $2,000 for charities supporting animal welfare and Ukrainian child refugees.

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What Is Augur? Is Augur Still Worth Investing In 2022?

In this article, we will be looking into the Augur project to determine if it is still worth and investment in 2022.

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Why all the Hype around SafeMoon Crypto? Will SFM token really MOON?

On social media, such as TikTok and Twitter, we often hear that the token SafeMoon is going to increase sharply in the future ("mooning"). But what is SafeMoon and why should the token rise so much? In this article, we're going to explain what SafeMoon crypto is. We will also explain where you can buy the token.

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Boba Network Announces WAGMI v2 to Boost Ecosystem Growth

WAGMI v2 is the next iteration of the WAGMI incentives program The Boba Network team has announced the upcoming release

The post has appeared first on thenewscrypto.com

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CryptoPunks community reacts to the ongoing copyright battle between v1 and v2

CryptoPunks v1 is no longer deemed authentic but its creators allegedly sold 210 ETH worth when the wrapped versions gained traction.

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OpenSea once again delists CryptoPunks v1 as legal battle heats up

Many users bought Punks' NFTs on the basis that there were only going to be 10,000 of them, not potentially 20,000.

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What Are The CryptoPunks V1? And, How Can They Disrupt The Market?

Are the CryptoPunks V1 the original CryptoPunks? Technically, yes. According to LarvaLabs, the company behind the collection, the V1s “are not official Cryptopunks,” though. How will the market react now that they’re making a resurgence? This might be the first, but it’s not the last time you’ll hear about the CryptoPunks V1. Let’s explore their history and the controversy around them. Related Reading | Snoop Dogg Joins The Bored Ape Yacht Club And The Sandbox. Read All About It What Are The CryptoPunks V1? Back in 2017, prehistory for the NFT market, LarvaLabs distributed 10.000 CryptoPunks V1. However, there was a fatal mistake in the governing smart contract. After a transaction, it allowed the buyer, not the seller, to withdraw the money. The buyer could literally have its cake and eat it too, leaving the seller completely in the red.  Here’s a thread explaining the technical details of the faulty contract: Explaining the V1 CryptoPunks exploit…this one is incredibly tricky so want to share what I learned! TL;DR – when a buyer purchased a punk, the ETH deposited in the contract could be withdrawn only by the *buyer*, not by the seller. So buy(), withdraw(), repeat. pic.twitter.com/apGwackvMz — foobar (@0xfoobar) March 24, 2021 What did LarvaLabs do? They disowned the original series and started again. They gave away another set of 10.000 CryptoPunks, the V2, and the rest is history. The almost free collectibles gained traction little by little and became the behemoth they’re today. All of the CryptoPunks in circulation were  V2s, until now… A Rebel Marketplace Arises The CryptoPunks V1s still exist, but they had no marketplace to commerce in because Open Sea banned them. However, a new platform came into town and allowed them to reappear. This time, they’re called Classic Punks or Wrapped CryptoPunks V1, because to be able to sell them you have to wrap them in a new smart contract that doesn’t have the know vulnerabilities of the original contract. The rebel marketplace is LooksRare.org and, so far, these up-and-coming NFTs have made 307.44 ETH in sales. Not bad, considering there are only 116 holders and LarvaLabs owns at least 1000. In LooksRare, only 23 owners are selling 269 items, so they’re pretty rare. The marketplace describes them as: “A wrapped CryptoPunk from the initial exploited V1 contract version. Buyer beware – if you don’t understand the preceding sentence, this is not the CryptoPunk you’re looking for.” Another buyer beware has to be, that low number of holders means that a few people have control of the market and can potentially manipulate it as they see fit. So, tread lightly.  ETH price chart for 02/04/2022 on Kraken | Source: ETH/USD on TradingView.com LarvaLabs Disowns The CryptoPunks V1 Through their public channels, the only thing LarvaLabs said was: “PSA: “V1 Punks” are not official Cryptopunks. We don’t like them, and we’ve got 1,000 of them… so draw your own conclusions. Any proceeds will be used to purchase real Cryptopunks!” PSA: "V1 Punks" are not official Cryptopunks. We don't like them, and we've got 1,000 of them… so draw your own conclusions. Any proceeds will be used to purchase real Cryptopunks! — Larva Labs (@larvalabs) January 25, 2022 However, in the company’s official Discord channel, they are threatening legal action. They also admitted that they sold a bunch of CryptoPunks V1 because they thought that by “selling some of the tokens we would signal our distaste for it.” According to LarvaLabs, they’ve been using the 210 ETH that they received to buy V2 CryptoPunks. And they matched that amount and made a donation to the Rainforest Foundation.  Here’s trader extraordinaire and crypto influencer Cobie explaining the situation: wtf is larva labs doing tbh pic.twitter.com/KmgMlBwBGW — Cobie (@cobie) February 2, 2022 As he puts it, “they dumped on people and now they’re trying to make what they dumped as worthless as possible.” Real people paid those 210 ETH. Why do they have to suffer? However, they might end up with the upper hand. LarvaLabs can use all the legal tricks that they want, but they can’t destroy the CryptoPunks V1 contract.  The Intricacies Of The V1 Contract As this pseudonymous Twitter user puts it, “my understanding is the contract code is permanent – you can only update a contract post deployment by calling the selfdestruct() function, if there is one. A function which neither of the two Crytopunk contracts have!” @larvalabs cannot do that with v1 punks because, both their v1 and v2 contracts point to the same file! You'll find this identical imageHash in both contracts: ac39af4793119ee46bbff351d8cb6b5f23da60222126add4268e261199a2921b pic.twitter.com/cg0AFQR7Tt — Stroudonian (@0xStroudonian) January 29, 2022 Not only that, there’s another way to destroy a contract, and here’s where the big reveal comes. “Because of ETH’s extortionate storage costs, most use external forms of storage (punks are off-chain art!). In layman’s, contracts essentially include a link to specific reference point, which contains the image. LarvaLabs cannot do that with v1 punks because, both their v1 and v2 contracts point to the same file!” Oh, what a tangled web we weave! And that’s the story of the CryptoPunks V1. Related Reading | Will NFTs Kill Traditional Art? Famed Collector Cozomo de’ Medici Makes The Case The CryptoPunks V2 Market According to NFT Stats, “The total sales volume for CryptoPunks was $41.42M. The average price of one CryptoPunks NFT was $232.7k. There are 3.373 CryptoPunks owners, owning a total supply of 9,999 tokens.” Let’s check in a few years to see if the CryptoPunks V1 make a dent on that. Featured Image: Screenshot of CryptoPunks V1 from LooksRare | Charts by TradingView

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BitMart to Support Safemoon’s (SFM) Automatic Migration from V1 to V2 Providing Users a Swap Service

Bitmart, the most trusted cryptocurrency trading platform, recently declared that it will support SafeMoon for tokenswap from V1 to V2. The exchange will offer users a swap service meaning that the migration from V1 to V2 will be done automatically so that users on the platform don’t have to manually transfer them. ?? #BitMart is […]

The post BitMart to Support Safemoon’s (SFM) Automatic Migration from V1 to V2 Providing Users a Swap Service appeared first on The Crypto Basic.

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Shared Web3 user base could power new social app integrations — Aave CEO

The latest version of Web3 social layer Lens Protocol has been released, introducing improved functionality to support new use cases and shared monetization for its growing Web3 user base. Decentralized Finance (DeFi) firm Aave Companies announced Lens Protocol v2 on July 17 during EthCC in Paris, with the code powering the protocol reworked to enable [...]

The post Shared Web3 user base could power new social app integrations — Aave CEO appeared first on Crypto Breaking News.

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Uniswap Foundation Unveils Major Upgrade Plan, UNI Price Skyrockets 52%

Uniswap (UNI), one of the industry’s largest decentralized cryptocurrency exchanges (DEXs), has set the stage for a major shift in its ecosystem with a proposed upgrade that could have significant implications for UNI token holders.  The upgrade aims to bolster governance participation, enhance resilience, and reward token holders for active engagement within the Uniswap ecosystem. Uniswap Takes Big Leap In Governance Uniswap Foundation (UF) Lead Developer Erin Koen, while expressing his enthusiasm, has suggested that it has been the “biggest week in Uniswap Protocol Governance” and revealed a major upgrade proposal for the system. At the heart of the proposed upgrade lies a fee mechanism designed to reward UNI token holders who stake and delegate their tokens. As announced, by actively participating in the governance process, token holders can earn additional rewards in the form of protocol fees.  In addition to the enhanced rewards, the proposed upgrade seeks to fortify Uniswap Governance, making it more resilient and decentralized.  According to Koen, by increasing the number of actively involved token holders, the governance structure becomes more robust, ensuring that decisions align with the collective interests of the UNI community.  The proposed upgrade maintains governance control over core parameters such as fee-charged pools and fee magnitude. Token holders will collectively decide on these critical aspects, allowing for flexibility and adaptability in response to market dynamics.  Related Reading: Avalanche C-Chain Experiences Block Production Halt, AVAX Price Responds Beyond the immediate benefits, the proposed upgrade holds the potential for long-term value appreciation of the UNI token. By incentivizing participation and aligning token holders’ interests with the ecosystem’s success, Uniswap aims to foster organic growth and adoption.  Assuming a successful on-chain vote, the community will have the option to activate fees. Gauntlet, a trusted entity, is reportedly preparing a proposed roll-out process that will be shared on the forum.  Only after completing this separate governance process will fees be collected and distributed according to the adopted contracts. Koen further noted: Were excited to invigorate governance incentivizing not only delegation but thoughtful and active delegation by tying delegation to protocol fees. Specifically, we believe UNI token holders will be incentivized to choose delegates whose votes and engagement with the protocol will lead to the Protocols growth and success. If this proposal succeeds we believe we will see an influx of new delegations. UNI Records 23-Month High As these developments unfold, considerable excitement has emerged around the Uniswap protocol. Notably, a cryptocurrency investor named “Virtual Bacon” expressed enthusiasm, stating, “Uniswap finally proposes to share revenue with UNI token stakers. Chart exploding on this ‘proposal’ which hasn’t passed yet.”  Within 24 hours, the UNI token witnessed a surge of over 52%, signaling the market’s anticipation of the potential benefits this upgrade could offer token holders. Currently, the UNI token is trading at $11.29. However, with the unveiling of the upgrade proposal, the token quickly surged to the $12.50 level, reaching its highest point in 23 months.  The gains over longer time frames have also experienced a dramatic surge. Over the past fourteen days, the UNI token has seen an impressive increase of 73%. Similarly, the token’s value has soared by 94% in the last thirty days.  Related Reading: Cardano (ADA) Faces Critical Sell Signal: Crypto Analyst Raises Alarm Overall, should the proposed upgrade be approved and implemented, Uniswap will reinforce its position as a leading DEX and establish a framework that empowers token holders and fosters the continued growth and success of the Uniswap protocol. Featured image from Shutterstock, chart from TradingView.com

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Uniswap Expands Reach: Deploys v2 Protocol On Six New Chains Including Arbitrum And Polygon

Uniswap (UNI), one of the largest decentralized cryptocurrency exchanges (DEX) by trading volume, has made an important announcement regarding deploying its v2 protocol on six additional chains.  The chains on which the v2 protocol has been deployed include Arbitrum (ARB), Polygon (MATIC), Optimism (OP), Base, Binance Smart Chain (BSC), and Avalanche (AVAX). Uniswap Widens v2 Protocol Deployment According to a recent post on X (formerly Twitter) by Uniswap Labs, the software product developer working on the protocol, the decision to deploy the v2 protocol on more chains is primarily driven by the desire to simplify the experience for Liquidity Providers (LPs). While the protocols v3 offers advanced features tailored for active liquidity providers, the development team believes the v2 protocol offers a more straightforward approach.  By default, v2 pools cover the entire price range, reducing the need for upfront decisions and minimizing the active involvement of liquidity providers. This simplification streamlines the process and makes it more accessible to a broader range of users, according to the announcement.  Related Reading: AVAX Slips, Adding Tension To $365 Million Avalanche Token Unlock Drama Another benefit of using the v2 protocol on multiple chains, according to Uniswap Labs, is its cost efficiency. Creating pools on v2 is more gas efficient than other versions, resulting in lower gas costs to add liquidity.  This cost reduction can be translated into savings for users, making swaps on the platform incredibly affordable. In addition, the use of v2 on Layer 2 scaling solutions significantly reduces the risk of frontrunning and manipulative practices known as Miner Extractable Value (MEV).  Ultimately, by offering an official v2 deployment directly accessible through the Uniswap interface, the developers suggest that users can be assured of a safe and secure environment for their swaps. UNI Price Dip, Platform Metrics Remain Solid Despite the recent developments that could attract investors’ attention and drive broader adoption of the Uniswap protocol, the exchange’s native token, UNI, is currently undergoing a significant correction in line with the overall market trend. Currently, UNI is trading at $7.22, representing a 4.4% price drop in the past 24 hours and a 1.1% decline in the last trading hour. However, it’s worth noting that UNI has been one of the better-performing tokens in the market, with price increases of 14.7% and 16.8% in the past fourteen and thirty days, respectively. Furthermore, according to data from Token Terminal, the Uniswap ecosystem continues to exhibit substantial growth in key metrics.  Related Reading: Bitcoin FOMO Hasnt Spiked Yet: Green Signal For Rally To Continue? The fully diluted market capitalization of Uniswap stands at $7.56 billion, reflecting the total value of all tokens if they were fully in circulation. This figure has experienced a notable increase of 18.4% over the past month.  In contrast, the circulating market capitalization, which considers the currently circulating tokens, is valued at $6.94 billion, indicating a 19.9% increase over the same period. Despite the overall surge in market capitalization, the trading volume of the UNI token has experienced a significant decline of 69.3% over the past 30 days, amounting to $2.79 billion.  The total value locked (TVL), a measure of the value of assets locked within Uniswap’s smart contracts, has also experienced a 14.4% increase, reaching $4.76 billion.  Featured image from Shutterstock, chart from TradingView.com

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Ethereum’s Fiery Path: $6.6 Billion Ether Burned Since the London Hard Fork

Drawing upon recent data, the Ethereum network has incinerated close to 3.46 million ether, translating to a staggering $6.68 billion in value burned since the London hard fork’s implementation on August 5, 2023. Taking into account the 710-day period that followed, the Ethereum network maintained a relentless burn rate, burning an average of over 146,000 [...]

The post Ethereum’s Fiery Path: $6.6 Billion Ether Burned Since the London Hard Fork appeared first on Crypto Breaking News.

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