Blocker Weekly: ETH hoarding is on the rise; how to crack the invisible ceiling of DeFi?
Keywords of this issue:
Keywords of this issue:DEX has no moat, DeFi invisible ceiling, USDT will not be thunderstormed, ETH hoarding trend, IPFS, Polkadot, NFT, Hainan Free Trade Port, national blockchain vulnerability sub-library, and mining legalization.
1. The overall plan for the construction of Hainan Free Trade Port: building a national blockchain technology and industrial innovation and development base in Hainan
On June 1, according to Xinhua News Agency, the Central Committee of the Communist Party of China and the State Council issued the "Overall Plan for the Construction of Hainan Free Trade Port", which proposed to deepen the opening up of industries. Support the development of headquarters economy. It mentioned the construction of Hainan National Blockchain Technology and Industrial Innovation Development Base.
2. Canadian cryptocurrency exchanges are legally recognized as money services businesses
According to Cointelegraph, since June 1, Canadian cryptocurrency exchanges will need to register with the financial regulator FINTRAC. Cryptocurrency exchanges and payment processors are now legally recognized as money services businesses (MSBs) in Canada.
3. Announcement of the second batch of applications of the Beijing Financial Technology Innovation Supervision Pilot: Focus on financial digital scenarios, involving blockchain and other technologies
On June 2, the Business Management Department of the Central Bank (Beijing) announced that the Business Management Department of the Central Bank is now publicly soliciting opinions from the public on the second batch of 11 applications to be included in the pilot program of financial technology innovation supervision in Beijing. The application focuses on financial digital scenarios, and uses cutting-edge technologies such as big data, artificial intelligence, blockchain, 5G, and the Internet of Things to explore, analyze and solve the difficulties and pain points in financial services for people's livelihood.
4. The national blockchain vulnerability sub-database (CNVD-BC) is officially launched
On June 3, the National Information Security Vulnerability Sharing Platform (CNVD) officially launched the blockchain vulnerability sub-database CNVD-BC. The CNVD blockchain vulnerability sub-library is operated by the National Internet Emergency Response Center. Currently, 247 blockchain-related vulnerabilities have been included, including 60 high-risk vulnerabilities, 173 medium-risk vulnerabilities, and 14 low-risk vulnerabilities. The CNVD blockchain vulnerability sub-library fully relies on national-level network security resources, and calls on and guides blockchain security vendors, white hats, blockchain companies and other parties to participate in the blockchain security ecological construction to improve my country's blockchain vulnerability and The discovery, analysis, and early warning of security incidents, as well as the overall research level and emergency response capabilities, provide important technical support and data support for the security work of my country's blockchain industry.
5. Kyrgyzstan intends to legalize crypto mining through a new tax bill
On June 5, according to Cointelegraph, the Kyrgyz parliament is considering a bill to tax and regulate cryptocurrency mining activities. This will be the first regulated framework for crypto activities in the country. The bill on amending the tax code of the Kyrgyz Republic, in addition to establishing clear definitions for the terms "virtual assets" and "mining" in the context of cryptocurrencies, also seeks to increase government revenue by establishing tax obligations for miners. The proposed law would impose a flat tax rate on miners of 15 percent of profits generated from the sale of mined crypto assets.
6. The Ministry of Commerce issued a draft of e-commerce norms to encourage the transformation and application of blockchain technology in e-commerce
According to news on June 5, the Ministry of Commerce issued a draft for comments on the construction and operation of e-commerce industrial bases (hereinafter referred to as the draft for comments) clearly, in terms of value-added services. The draft for comments requires that the base should attract upstream and downstream enterprises in the e-commerce industry chain to settle in, give full play to the agglomeration effect of the base, form a characteristic industrial advantage cluster, and fully encourage the transformation and application of big data, cloud computing, artificial intelligence, and blockchain technology in e-commerce.
7. Jack Ma: Alibaba will strengthen in-depth cooperation with Anhui in blockchain, e-commerce, cross-border trade and other industries
According to Anhui Daily, on June 6, Li Jinbin, Secretary of the Anhui Provincial Party Committee, held a working meeting with Ma Yun, the founder of the Ma Yun Public Welfare Foundation, and relevant persons in charge of Alibaba Group and Ant Financial Services Group. Ma Yun expressed his admiration for Anhui's great achievements in economic and social development in recent years. He said that Alibaba Group will establish a regular consultation and joint mechanism with Anhui to strengthen in-depth cooperation in industries such as smart manufacturing, industrial Internet, blockchain, e-commerce, cross-border trade, and smart tourism, so as to better support the construction of digital Jianghuai and provide Anhui with Make greater contributions to high-quality development.
Due to the composability of DEX, liquidity sharing at the network level will be realized, and liquidity will not be able to become a moat for DEX. DEX can only acquire users and market makers through price wars, and value capture will become very difficult.
DeFi is not only an important development direction of Ethereum, but also an important development direction of the entire encryption field. So compared to CeFi, what are the shortcomings of DeFi? These shortcomings limit the further development of DeFi. These limitations include latency, low throughput, high transaction fees, front-running, leverage and loan costs, lack of fiat access, etc. How to solve these problems? This paper explores the answers from various aspects.
In this article, cryptocurrency refers to the "native Token" in the public chain represented by BTC and ETH. Many researchers understand cryptocurrencies based on Hayek's famous book "The Denationalization of Currency - An Analysis of the Theory and Practice of Multi-Currency". Modern Monetary Theory (MMT) provides a new perspective for understanding cryptocurrencies and also helps to understand the economic design of public chains.
1. USDT will not be thunderstormed (click on the picture to go directly)
USDT is the biggest thunder in the market. This should be the opinion of the vast majority of people in the industry. When USDT was issued crazily in the past two months, many articles stated that such unrestrained issuance of USDT is more and more risky. Thunderstorms can happen at any time. This article tells you a completely different point of view: Tether's business model determines that it is difficult for it to be thundered. When everyone thinks that USDT is risky and Tether will be thunderstormed, things may not develop in the direction everyone expected.
2. What should blockchain focus on in the second half of 2020? (Click on the picture to go directly)
More than half a year has passed since the 2019 summary. After experiencing ups and downs, my mood has changed a little. Even if I gnash my teeth to the end, it will not help, so I have to keep my head down. In this article, the author reviews the ten problems that have been left behind, and lists the directions worthy of attention in the second half of the year. The content covers IPFS, DeFi, ETH2.0, Polkadot, NFT, etc.
3. ETH hoarding trend in full swing (click on the picture to go directly)
Data shows that over the past year, the largest investors in ETH have been busy buying large amounts of ETH. This accumulation trend has driven the holdings of so-called "whale addresses" to a 10-month high, with these investors now collectively holding more than 21.8 million ETH. Meanwhile, whales are not the only ones accumulating ETH. The cryptocurrency also attracted significant institutional inflows in the first half of the year, recent data shows.
On June 2, PR Newswire reported that Avanti, a bank focused on serving the digital asset industry founded by Wall Street veteran Caitlin Long, announced yesterday that it had completed an angel round of financing of US$5 million. This round of financing was led by the University of Wyoming Foundation, and participants included Morgan Creek Digital, Blockchain Capital, Digital Currency Group, etc.
Avanti Financial Group is a compliant digital asset business custody and payment service founded by Caitlin Long, a Wall Street veteran who himself is responsible for a series of encryption legislation in Wyoming.
2. SynchroLife, a blockchain social media platform, completed its Series A financing of US$2.6 million
On June 2, Chain News reported that SynchroLife, a blockchain social media platform focused on restaurant reviews, completed a $2.6 million Series A financing led by MTG Ventures, Giftee, Orient Corporation, Ceres, Sansei Capital Investment and Mitsubishi UFJ Capital and others participated in the investment.
SynchroLife rewards users with loyalty points, which can be exchanged 1:1 for SynchroCoins. SynchroCoin can also be used to pay at restaurants in the future, the company said. The parent company of SynchroLife is Ginkan, a Japanese food review platform.
Disclaimer: The Blockchain Institute is organized based on public information and does not represent the position of the Blockchain Institute (official account), nor does it constitute any investment opinion or suggestion.
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Disclaimer: The Blockchain Institute is organized based on public information and does not represent the position of the Blockchain Institute (official account), nor does it constitute any investment opinion or suggestion.
