Crypto Trends 22 June 2020

Crypto Trends

A summary of the crypto trends for the week.

COMP token distribution

COMP tokens are now being distributed to Compound protocol users. Talk of liquidity mining/yield farming seemed to explode this week.

Reddit scaling bakeoff

Reddit partnering with the Ethereum Foundation is seeking a scaling solution for community points.

There isn’t a prize, but there is the potential for 430 million monthly Reddit users. The solution needs to cover minting & distributing points, subscriptions (regular burning), one-off points burning and transfers.

Demos must be in by July 31, 2020

Right now I think the winner could be a proof of authority side chain secured by the significant reputation of the authorities. (Reddit + moderators). Though I look forward to seeing the coming soon™ Layer 2 solutions present a viable alternative.

Network Congestion

Miners are increasing the block gas limit:

Though this is not without issues:

Gas prices are still around 20-30Gwei. (https://www.ethgasstation.info/)

10K TX recap

The 10K Transactions apparently came from a project called Good Cycle:


For detailed news see: Week in Ethereum News, EthHub and What’s New in Eth2

Audits

From the archives:

Please contact the team when you are ready to request an audit!

Post Mortems

Jobs

Posts

Events

Finally

Rabbids Token is a non-fungible token experiment from Ubisoft’s Strategic Innovation Lab with funds going to UNICEF.

There is a limited number of tokens, which users can grab, but anyone can grab it from you by buying it (effectively donating), leaving you with a non-transferable Proof of Plausible Ownership token.
Each time a token is grabbed, its generation changes. Prices vary depending on generation between 0.05ETH and 0.15ETH.

I briefly held Dragon Rabbid. The fun is in the artwork (think Crypto Kitties but for charity). Network congestion means that transaction fees are ~USD$2 (ouch).