Yam finance is ending rebase functionality, and moving on to focus on the YAM ecosystem, which includes an insurance protocol, uGAS tokens based on UMA protocol, an investment protocol, and more: Yam 2020 Recap & 2021 Roadmap (https://t.co/C8wL66rZJ7)
YAM Migrates and Ends Rebase
https://t.co/C3XioRhMIc will be ending the migration function on 2/15/2021 00:00 UTC. Yam has also ended the rebasing function of the token. The supply is no longer elastic. Migrating 1 YamV2 will return 2.5 Yams.
“Charm takes a unique approach of splitting tokens into tokenized payoffs and using a prediction market AMM to create liquidity for them.”
Website: https://t.co/hNTQiTq9AT
Sushiswap plans for 2021
Sushiswap released their plans for 2021 (https://t.co/tb1I45Jaya), including consolidation to a broader open organization as a part of the Yearn ecosystem.
Smart contracts for the Miso launchpad program are set to add a more structured approach to launching a token using AMM liquidity pools. Layer 2 transactions powered by zk-rollups (favored for compatibility with other Yearn ecosystem products) are also in the works,
receivables made by loans,” is actually backed in any way by bitcoin.
“We bought bitcoin for our clients at about $9,300 so that worked very well through 2020 and we expect it to continue working well in 2021 as the printing presses continue to run hot,” Rogers said in the video
Tether’s bank invested customer funds in BTC at ~$10k
Deltec, Tether’s Bahamas-based bank, announced Thursday it was investing customer funds in bitcoin.
The announcement, made by Deltec Bank & Trust Chief Investment Officer Hugo Rogers during a year-in-review video, may raise new questions about whether the dollar-pegged USDT stablecoin, which is in theory backed by cash and “cash equivalents,” as well as “other assets and ...
Ethereum Improvement Proposal 1559 Is Ready. Or is it?
TLDR Ethereum Improvement Proposal 1559, a long-awaited update to Ethereum’s core codebase, was rumored to be ready for deployment, according to a leaked Discord conversation on Twitter (https://t.co/dfs7isnu02).
Tim Beiko, Ethereum core developer responded on Twitter, saying “I disagree 1559 is ready to ship now,” and followed up by posting an EIP-1559 Mainnet Readiness Checklist, which shows, as Beiko said on Twitter, no Ethereum clients had a final version of the proposal implemented.
📈 Crucially though, the fee would be burned instead of sent to miners. If the proposal reduces the inflation rate, with constant demand, it should become more valuable.
📖 EIP-1559 aims to change Ethereum’s transaction fee mechanism to improve user experience and reduce ether inflation. It proposes to introduce a “base fee”, which, like the current mechanism, will protect against spam on the Ethereum network.
The first phase is described:
Phase 0
1. One way SNX bridge from L1 to L2 including escrowed SNX
2. SNX & sUSD will be non-transferrable on L2
3. Minting of non-fungible sUSD
4. Claiming of SNX (funded via the sDAO)
More info (https://t.co/udBh0uEDFD)
Synthetix Optimism Transition Plan
Synthetix has released its optimistic L2 transition plan. Similar to Ethereum 2.0’s multi-phase rollout, Synthetix will also transition its project over time.
CREAM Iron Bank
CREAM Finance has announced the Iron Bank, which will be a protocol-to-protocol lending platform. The Iron Bank will be powered by a credit system which will allow for zero-collateral loans.