Ethereum

PancakeSwap

dYdX (ethDYDX)

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 1. Ethereum Mainnet Celebrates 8th Anniversary with Over 2.05 billion Total Transactions link 
 On July 30th, the Ethereum mainnet celebrated its 8th anniversary since its official launch. Back on July 30, 2015, the Ethereum mainnet was formally launched, giving birth to its genesis block with a block reward of 5 ETH. According to TokenView data, as of July 30th, the total number of transactions on the Ethereum network has exceeded 2.05 billion Txns, with a count of 66.12 million holding addresses. The total circulating supply of Ethereum stands at 47.22 million tokens, with approximately 2.986 million tokens having been burned. 
 2. Base’s Weekly Summary 
 a. Base Chain to Open Public Mainnet on August 9th link 
 On August 3rd, Coinbase announced the launch of its cross-chain bridge, Base, which is set to be open to the public on August 9th, coinciding with the commencement of the Onchain Summer event. As of now, Base’s Total Value Bridged (TVB) stands at 87.94 million US dollars. 
 b. Memecoin BALD on Base Soars by 30,000x before Experiencing Steep Decline link 
 On July 30th, the Base mainnet went live (in an unofficial capacity), albeit without withdrawal channels established at that time. Due to the network being in a state of restricted outward transactions, Memecoins based on the Base network reaped the benefits. One such Memecoin, named BALD, experienced an astonishing 30,000-fold surge in its value within a span of 24 hours on the 30th. Its market capitalization briefly exceeded $70 million. According to data from CoinMarketCap, the BALD token reached a peak price of $0.09587 on July 31st, but as of the time of writing, its price has decreased to $0.00715, marking a substantial decline of nearly 93% from its highest point. 
 3. Binance Labs Announces Top Four Projects from the Most Valuable Builder (MVB) Program link 
 On the 4th of August, Binance Labs announced the four most remarkable projects in their Most Valuable Builder (MVB) program for the recent quarter: AltLayer, an Ethereum scalability initiative that allows swift customization of fraud/zk-proven Rollups; KiloEx, a user-friendly decentralized exchange (DEX) with a focus on risk management and capital efficiency; Kinza, a DeFi lending protocol aiming to establish the finest on-chain money market; and Sleepless AI, a blockchain-based AI virtual companion game. 
 4. opBNB Mainnet Scheduled for Mid-August 2023 Launch link 
 On the 2nd of August, the progress update on the BNB Chain L2 network, known as opBNB, reveals that the opBNB mainnet is scheduled for launch in mid-August 2023. It will initially be opened to infrastructure providers and then to the public by the end of August or the beginning of September. Prior to the official mainnet launch, rigorous testing will be conducted covering aspects like usability, performance, transaction costs, and security. 
 Following the mainnet’s deployment, paramount attention will be directed towards anti-fraud mechanisms, account abstraction, data availability with regards to BNB Greenfield, interoperability with BNB Greenfield, and the implementation of decentralized sorters. These measures are aimed at ensuring the network’s resilience and decentralization. 
 Moreover, opBNB will also introduce various grant programs, builder initiatives, and funding schemes to foster ecosystem development. 
 5. PancakeSwap Plans to Share Trading Fee Revenue with CAKE Token Stakers link 
 On the 31st of July, PancakeSwap unveiled its plan to distribute a portion of the transaction fee revenue to the stakers of its native token, CAKE. Starting from the 9th of August, CAKE stakers with a fixed-term commitment will receive a regular weekly allocation from the 5% transaction fee income originating from all PancakeSwap v3 trading pairs, encompassing the 0.01% and 0.05% fee tiers. These two fee tiers collectively constitute around 80–90% of the trading volume on PancakeSwap v3. 
 6. GMX Unveils GMX v2 Test Version link 
 On the 4th of August, GMX unveiled the GMX v2 testing version, with v2 now live on the Arbitrum and Avalanche mainnets. This update introduces support for trading new assets such as SOL, XRP, LTC, DOGE, and ARB. It also embraces a variety of collateral types for trading positions, enhancing speed and reducing slippage. The transaction fees have been lowered significantly to range from 0.05% to 0.07%. 
 Additionally, v2 brings isolation pools, long-short balance incentives, and swap incentives for liquidity providers (LPs). Similar to GMX V1, v2 employs an oracle system, and the next phase will involve an upgrade integrating Chainlink’s low-latency oracle for enhanced accuracy. 
 7. Gains Network: Record Weekly Trading Volume of Commodities (Gold and Silver) on gTrade link 
 On August 4th, Gains Network, the on-chain derivatives protocol, announced that despite the cryptocurrency market’s recent period of consolidation, the weekly trading volume of major commodities (gold and silver) on gTrade has achieved an all-time high, surpassing 40 million dollars. According to official data, gTrade has seen a remarkable three consecutive days of daily trading volumes exceeding 10 million dollars for these major commodities. It’s worth noting that within the gTrade ecosystem, commodities hold a relatively modest share in both trading volume and open interest, approximately 5% to 10%. Gains Network stands as the sole mainstream protocol currently offering traditional financial industry futures derivatives. 
 8. dYdX Evaluates Token Conversion to Native Asset on Cosmos L1 dYdX Chain link 
 On August 4th, the decentralized derivatives exchange dYdX is currently assessing the transition of its governance token into the native asset of the upcoming L1 dYdX chain on Cosmos, which is currently in its testing phase. The team behind this initiative has indicated that a decision will be made through a community governance vote at a later stage. 
 9. Avalanche’s Largest Native DEX, Trader Joe, Announces On-Chain Limit Order Launch link 
 On August 4th, Trader Joe, the largest native DEX on Avalanche, announced the launch of on-chain limit orders. This new feature enables traders to set automated buy or sell orders that execute directly on the blockchain without incurring any fees or affecting market prices. Traders can now deploy strategies such as arbitrage capture, grid trading, and pool orders. 
 10. Sei Announces Mainnet is Ready link 
 On August 4th, Sei announced that the Atlantic-2 testnet is the fastest to complete validation among all blockchains, with validator nodes located in 12 countries/regions across 3 continents. The mainnet is now fully prepared. Sei Network has recently launched its Binance Launchpool mining, with a total supply of 10 billion SEI tokens. 
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Weekly Project Updates: Ethereum's 8th Anniversary, Base Chain MEME Trending, Sei Mainnet Prepares for Launch, etc

TheBitTimes

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