Blockchain News & Articles

Worldcoin unveiled World Chain yesterday, a blockchain built for humans, to enhance the efficiency and user experience across the globe.

The Deets

• Dedicated Network: Transitioning Worldcoin transactions to World Chain to manage increasing user demand and network stress.
• User Verification: Integration of World ID for transaction prioritization and gas allowances, enhancing user engagement and security.
• Scalability and Efficiency: Plans to scale to 1 billion users by improving transaction speeds and costs, reducing blockchain congestion.
• Developer and Community Support: Introduction of community grants and partnerships to foster development on World Chain.

The Bulk

Worldcoin is taking on an ambitious goal with the launch of World Chain, a blockchain designed for humans.

Transitioning to World Chain, Worldcoin aims to alleviate the strain on the Optimism Mainnet, where it currently accounts for approximately 44% of all Layer 2 gas consumption. This shift will not only cater to existing demands but also ensure scalability for future growth, projecting a target of one billion users.

World Chain will feature user verification via World ID, which allows for anonymous yet verified transactions, giving human users priority in transaction processing and an allocation of free gas. This move is aimed at reducing the prevalence of unproductive bot activities which often clog the network.

For developers, World Chain will offer a conducive environment for creating apps that leverage World ID's sybil resistance, focusing on decentralized finance and identity utilities. The network promises to support innovations that enhance everyday utility for its global user base.

🎤 Community Quotes

💰 Humanity Talks

Users verified through World ID will enjoy benefits such as transaction prioritization and gas allowances, which are part of Worldcoin's strategy to make blockchain technology more accessible and affordable for ordinary users.

🔜 What's Next?

Worldcoin is gearing up for a developer preview of World Chain soon, with a full launch expected later this summer. Community members and developers are encouraged to engage with the upcoming features and explore potential partnerships.

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Binance Labs announced an investment in StakeStone, aiming to reshape omnichain liquidity with innovative staking solutions.

The Deets

• Omnichain Liquidity: Connects liquidity across emerging chains and ecosystems.
• Yield-Bearing Tokens: Utilizes STONE, a yield-bearing ETH token for native staking and liquidity on L2 networks.
• Decentralized Architecture: Supports ETH POS, Eigenlayer restaking, and multiple emerging staking assets.
• Efficient Liquidity Flow: Creates a two-sided market for liquidity providers and demanders.

The Bulk

Binance Labs, the investment branch of the global cryptocurrency exchange Binance, recently invested in StakeStone, a staking protocol designed to revolutionize the way liquidity is shared and staked across multiple blockchain networks. StakeStone introduces $STONE, a unique yield-bearing ETH token, to bring native staking yields and enhanced liquidity to Layer 2 (L2) networks.

StakeStone is known for its scalable architecture, which is capable of accommodating a wide variety of staking underlying assets. This includes ETH POS staking, Eigenlayer restaking, and any new staking asset types that may emerge, paving the way for a more interconnected and fluid multi-chain ecosystem.

In addition, StakeStone’s roadmap includes adapting to innovative underlying assets influenced by market dynamics, with a keen focus on specialized consensus mechanisms across Artificial Intelligence (AI) and Decentralized Physical Infrastructure Networks (DePIN). 

🎤 Founder Feedback

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NFTfi announced the NFTfi Foundation, which aims to revolutionize NFT credit markets with the launch of a decentralized settlement layer.

The Deets

• Pioneering NFT Finance: Since its 2020 Ethereum Mainnet debut, NFTfi is a leader in NFT liquidity solutions.
• Track Record: More than $500 million settled across 61,000 transactions, serving 5,000 users.
• A Growing Ecosystem: The Foundation focuses on infrastructure for healthy NFT credit markets and ecosystem growth.
• From Council to DAO: Transition plans include the introduction of the NFTfi Council and the evolution towards a fully functional NFTfi DAO.

The Bulk

Since its inception in May 2020, NFTfi has been at the forefront of NFT financialization, from facilitating NFT sales to launching the a liquidity protocol for NFTs. With a track record of more than $500 million in loans, 61,000 transactions, and significant interest earnings for lenders, NFTfi has established itself as a leader in NFT finance. 

Now the NFTfi Foundation, a non-profit organization, will be dedicated to developing the necessary infrastructure for thriving NFT credit markets and ensuring the NFTfi protocol and ecosystem flourish in the future. The transition from the NFTfi Council to a DAO underscores a commitment to decentralized governance, a core ethos of web3. 

❗Why It Matters

Most often, the creation of a Foundation and repeated mention of "decentralization" means a token is coming. 

🎤 Foundation Feedback

🔜 What's Next?

The NFTfi Foundation's roadmap includes launching the NFTfi Council and evolving towards an NFTfi DAO, signifying a move towards greater community governance and participation.

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nftperp introduced "Degen Draw," a new feature exclusively on Blast's L2, blending luck, strategy, and trading activity to offer weekly prizes.

The Deets

• Trade and Win: Engage in trading on nftperp to secure raffle tickets for every 0.1 ETH volume, opening a path to win weekly Blast incentives, including Points & Gold.
• A Twist in the Game: Two finalists face a pivotal choice - to Split or Steal the pot, introducing a layer of game theory dynamics.

The Bulk

Degen Draw, the latest innovation from nftperp, is now live exclusively on Blast's L2, offering participants an intriguing mix of luck and strategy to secure weekly rewards. This feature is not just about trading but about making critical decisions that could either amplify your gains or lead to potential losses thanks to the game theory infusions. 

Participants earn raffle tickets by trading, with every 0.1 ETH of trading volume granting them a chance to win a part of the weekly Blast incentives. However, the real twist comes when two finalists are chosen. They must decide whether to Split or Steal the pot, a decision that introduces complex game theory dynamics into the mix. Choosing to Steal could potentially lead to winning the entire pot but at the risk of losing a majority of your winnings for the week if the other finalist makes the same choice. On the other hand, opting to Split promotes cooperation but leaves you vulnerable to having your half of the pot stolen.

This innovative feature tests participants' willingness to cooperate or compete, making every week's decision a critical moment that could significantly impact their overall winnings.

🎬 Take Action

Interested traders and strategists can start earning raffle tickets by trading on nftperp via Blast. Use code "LUCKYTRADER" to gain access. 

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Jupiter token holders can now stake $JUP and vote for two of six LFG Launchpad candidates. 

The Deets

• Voting Is Open: Stake J$UP tokens and vote to select the top 2 LFG candidates.
• Informed Decisions: Resources provided to understand each project's vision and tokenomics.
• Community Empowerment: Voting underscores community support and rewards participants with launchpad fees.

The Bulk

Jupiter is allowing $JUP holders to stake and vote for their preferred LFG Launchpad candidates. 

Acknowledging the efforts of all candidates, Jupiter extended its gratitude, emphasizing the importance of each project regardless of the voting outcome. To facilitate informed voting, the protocol made available detailed presentations on each project's vision and tokenomics, coupled with community discussions and highlight reels.

Voting additionally provides $JUP stakers with tangible benefits, including a share of launchpad fees from the inaugural launches. 

📊 By the Numbers

$JUP is up 31% on the day to $0.77.

🔜 What's Next?

Voting will close and the top two vote getters will be selected on Mar. 10. 

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Gala Music announced a Student Entrepreneurship Pitch Competition at the Fashion Institute of Technology (FIT), aiming to fuse web3 tech with fashion innovation.

The Deets

• Empowering Innovation: Searching for the next web3 tech innovators.
• University Engagement: Special focus on FIT students for spring 2024.
• Prizes: More than $5,000 in cash awards for top pitches.

The Bulk

In a development for the future of web3 technology and its application within the fashion industry, Gala launched the Student Entrepreneurship Pitch Competition, exclusively for the Fashion Institute of Technology (FIT) students. This initiative is part of Gala Music's commitment to nurturing emerging talents and promoting innovation in the web3 space.

The competition invites undergraduates to explore and propose novel business ideas that leverage GalaChain, Gala's decentralized ecosystem, offering a unique blend of fashion, technology, and blockchain. 

Aimed at fostering the next generation of builders in the rapidly evolving digital landscape, students will collaborate with faculty mentors and Gala Music team members to create pitches. 

🎤 Platform Prose

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Blast mainnet migration issues are being addressed and a comprehensive fix plan is underway, including adjustments to points, bonuses, and UI clarity.

The Deets

• Points System Overhaul: Immediate and mid-week fixes for referral points and 0 points per hour issues.
• UI/Design Enhancements: Design updates to correct the 10x bonus visibility and misleading bonus warnings.
• Clarity on Points and Gold: Efforts to improve UI for better understanding of the points and gold system.

The Bulk

The transition to Blast mainnet introduced several challenges for users, including discrepancies in point balances, earning rates, and unclear system mechanics.

The focal point of concern has been the migration of points after moving to the mainnet, with users experiencing less than expected points due to referral discrepancies and UI bugs affecting the display of earned points and bonuses. Furthermore, a confusion surrounding the points plus gold system has been amplified by these UI issues, leading to a push for enhanced clarity.

The plan includes immediate fixes for referral points and assurances for users worried about bonus earnings due to mainnet migration. Mid to late-week updates are expected to resolve earning discrepancies and provide a clearer display of dapp-contributed points.

Additionally, the introduction of wallet delegation for multiplier earnings and a revamped color scheme for Blastscan, in collaboration with the Etherscan team, are in progress.

❗Why It Matters

 High fees and other migration woes outlined above have hindered the excitement that web3 had for Blast's launch. Rectifying points balances and assuring users that there remains strong incentive to participate is critical, though high fees still plague potential migration activities. 

🎤 Founder Feedback

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Robinhood Wallet and Arbitrum announcd a collaboration, granting Robinhood Wallet users access to Arbitrum swaps via decentralized exchanges.

The Deets

• Integration Benefits: Access to Arbitrum’s scaling solutions means lower transaction costs and faster speeds for users.
• Future Plans: The partnership will expand to include cross-chain swaps and campaigns to ease web3 use via Robinhood Wallet.
• User-Centric Design: Robinhood Wallet aims to simplify Layer 2 access for everyone, from crypto beginners to experts.
• Industry Impact: This move is expected to democratize web3 finance, leveraging Robinhood’s widespread recognition and user base.

The Bulk

Robinhood and Arbitrum have partnered to simplify the crypto trading landscape. This collaboration introduces Robinhood Wallet users to the world of Arbitrum swaps, leveraging decentralized exchanges for enhanced DeFi experiences. By integrating Arbitrum’s scaling solutions, Robinhood Wallet addresses the critical issue of high transaction costs and slow speeds, common barriers in the crypto ecosystem.

Robinhood Wallet is a self-custody solution that supports multiple networks including Ethereum, Bitcoin, Dogecoin, Arbitrum, Polygon, Optimism, and Base. 

With plans to support cross-chain swaps and introduce new campaigns, Robinhood and Arbitrum are committed to lowering entry barriers to web3, making it more inclusive.

🎤 Founder Feedback

🎬 Take Action

Explore the new era of DeFi by accessing Arbitrum swaps through Robinhood Wallet. Visit Robinhood.com/web3-wallet/ for more information and to download the wallet.

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Ondo Global Markets aims to revolutionize tokenization, merging blockchain with traditional securities for seamless trading and settlement.

The Deets

• Revolutionary Approach: Directive Tokenization for efficient asset management
• Wide Asset Coverage: Almost all financial assets including publicly traded equities
• Seamless Integration: Smart contracts for traditional market operations
• Enhanced Liquidity: Immediate access to public securities markets

The Bulk

The tokenization of real-world assets (RWAs) is an emerging trend in web3, but according to Ondo Finance faces a major hurdle with liquidity.

After pioneering the tokenization of US Treasuries with OUSG, Ondo now launches Ondo Global Markets (Ondo GM), a platform designed to seamlessly merge the blockchain with traditional securities. This innovative approach, known as Directive Tokenization, treats blockchain tokens as a system for submitting trade and settlement instructions to regulated entities, such as broker-dealers and custodians, rather than creating separate financial assets. This method aims to maintain liquidity and simplify the trading and settlement process, offering a direct pathway to traditional securities markets for blockchain investors and developers.

❗️Why It Matters

The launch of Ondo GM represents a significant leap forward in the evolution of asset tokenization. The idea of bringing traditional equities onchain is not a new one, but execution and adoption has left a lot to be desired. 

🎤 Platform Prose

🔜 What's Next?

Ondo Global Markets is set to expand its offerings, including a broader range of tokenized securities and enhanced features for smart contract integration. 

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Coinbase hopes to revolutionize onchain user onboarding with two new wallet solutions, simplifying the entry for billions.

The Deets

• Smart Wallet Solution: Instant wallet creation in dapps via a passkey, eliminating the need for app downloads or seed phrases.
• Embedded Wallets: Custom, app-specific wallets with email and social login flows, providing a seamless user experience.
• User-Ready on Testnet: Now available for developers on the Base Sepolia testnet, offering a free, secure, and user-friendly platform.
• Feedback Invited: Coinbase encourages developer community feedback to enhance the wallet solutions further.

The Bulk

Coinbase is breaking new ground by introducing two wallet solutions aimed at drastically simplifying the process of bringing users onto blockchain platforms. Recognizing the hurdles that complexity and security concerns pose to new users, Coinbase's offerings are tailored to bridge these gaps.

The smart wallet, part of the Coinbase Wallet SDK, enables developers to facilitate instant wallet creation within their decentralized applications using just a passkey. This  sidesteps the need for traditional onboarding processes like downloading apps or managing seed phrases and provides a unified, global wallet that users can carry across hundreds of EVM-compatible dapps.

Meanwhile, the embedded wallet solution, powered by Wallet as a Service (WaaS), allows for the integration of white-labeled, embedded wallets directly within applications. This familiarizes the onboarding experience by leveraging common email and social media login flows.

Both solutions are designed with security, ease of use, and speed in mind, aiming to lower the barrier to entry for onchain applications.

🎤 Platform Prose

🔜 What's Next

As Coinbase continues to refine these wallet offerings, the focus remains on supporting developers with resources, including gas credits and grants, to innovate and push the boundaries of onchain experiences. 

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