ETH Weekly | Uniswap launched the governance token UNI and started liquidity mining; the daily transaction volume on the chain reached 1.4 million times and reached a new high (9.14-9.20)

秦晓峰

Odaily资深作者

@QinXiaofeng888

2020-09-21 08:09 (UTC+8)

This article is about 3578 words, reading the full article takes about 6 minutes

In the past two weeks, the transaction fee on the Ethereum chain has reached 96.43 million US dollars.

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In the past two weeks, the transaction fee on the Ethereum chain has reached 96.43 million US dollars.

Author | Qin Xiaofeng

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Produced | Odaily

1. Overall overview

Second, the secondary market

1. Spot market

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(ETH daily chart, picture from OKEx)

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(data from BiNuNiu)

(data from Tokenview)

3. Large transaction

(data from Tokenview)

Tokenview dataIt shows that the number of transfers on the chain increased sharply last week, and the number of large-value transfers of "above 5,000 ETH" and "above 10,000 ETH" increased by 37% and 47% month-on-month; but the number of large-amount transfers of "above 50,000 ETH" decreased by 13 %, the frequency of giant whale account transactions has dropped slightly; combined with the price trend, there is still a demand for rebound in the short term.

OKlink data3. Ecology and technology

3. Ecology and technology

1. Development and technology

1. Development and technology

(1) Danny Ryan, the Coordinator of Ethereum 2.0, officially submitted the phase 0 upgrade proposal EIP 2982

On September 16, Ethereum 2.0 coordinator and core developer Danny Ryan officially submitted Ethereum Improvement Proposal No. 2982 (EIP 2982) with the theme "Ethereum 2.0 Phase 0 (Serenity Phase 0 EIP)". Change the Ethereum blockchain from PoW consensus to PoS consensus. If the proposal is passed by the core developers, it means that Ethereum 2.0 phase 0 or the beacon chain marking the implementation of PoS is about to be launched, which is expected to be realized later this year or early next year.

According to previous news, in July, Ethereum researcher Justin Drake said that Phase 0 of Ethereum 2.0 may be launched in early 2021. Vitalik Buterin, the co-founder of Ethereum, responded that it is more likely that Phase 0 of Ethereum 2.0 will be launched within four months (before November). (Github)

(2) Ethereum 2.0 will launch a new test network Spadina, running in parallel with Medalla

On September 15, Danny Ryan, the coordinator of Ethereum 2.0, issued a document stating that there will be another public test before the Ethereum 2.0 mainnet goes live, that is, the launch of the new testnet Spadina. Spadina has a lifespan of 3 days and will be launched later this month. Runs in parallel with Medalla. (Ethereum Blog)

(3) Ethereum privacy protocol Tornado Cash shuts down DAO fund Tornado Fund

Recently, the Ethereum privacy protocol Tornado Cash officially announced the closure of the DAO fund Tornado Fund. The official said it was jointly decided after discussions with OpenLaw. The reason for the closure is that the Tornado Fund is only available to accredited investors, resulting in a limited number of potential DAO participants. Note: Tornado Fund is a DAO designed to invest in Tornado Cash and help it develop into the first fully decentralized Ethereum privacy-preserving technology. (Medium)

(4) Uniswap launched the governance token UNI to start liquidity mining

On September 17, Uniswap announced that its protocol governance token UNI has now been launched on the Ethereum mainnet. UNI Genesis mining supply is 1 billion pieces, which will be distributed within four years, and will continue to maintain an annual inflation rate of 2% after four years. Among them, 60% of the tokens will be allocated to Uniswap community members, 21.51% will be allocated to team members and future employees, 17.80% will be allocated to investors, and 0.69% will be allocated to advisors. A quarter (15% of the total supply) of tokens have been allocated to past users. Initially, UNI is available through 4 liquidity mining pools, and after an initial 30-day governance grace period, UNI holders can vote to add more pools.

The initial liquidity mining plan will start at 8:00 on September 18, 2020, Beijing time, and will last until 8:00 on November 17, 2020. Four pools on Uniswap v2 will be supported: ETH/USDT, ETH/USDC , ETH/DAI, ETH/WBTC. Each pool will allocate 5,000,000 UNI to LPs according to the liquidity ratio, roughly equivalent to: 83333.33 UNI per pool per day, and 54 UNI per pool per block. These UNIs are not subject to vesting or locking.

On September 16, Matic Network (MATIC), the Ethereum sidechain expansion solution, announced the integration of the stablecoin Dai. Matic Network also stated that slow transaction speed and high cost are the two most important limiting factors hindering the vigorous development of DeFi, and Matic Network is also preparing to integrate with other major stablecoins. More details will be provided later. (Twitter)

2. Voice of the Community

2. Voice of the Community

(1) Ethereum core developers: The Ethereum client Geth should perhaps launch a governance token

On September 17, Ethereum core developer Péter Szilágyi tweeted that maybe we should launch a Geth (Ethereum client) governance token, let's vote.

Arthur, a cryptocurrency researcher, said on Twitter that the current total liquidity of Uniswap's ETH-to-USD series of stablecoins and ETH/BTC trading pairs is close to $1 billion. He said that too much liquidity may stifle some of the volatility of Ethereum, and it will be difficult for Ethereum prices to rise or fall by 30%.

3. Borrowing

Defipulseimage description

(Lock value on the DeFi chain)

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4. Mining

(data from etherchain.org)

etherchain.org(data from etherchain.org)

The data shows that the average computing power increased by about 1.9% month-on-month, temporarily reported at 249 TH/s; the average mining difficulty increased by 0.83% month-on-month, temporarily reported at 3137 T; new addresses decreased by 22.88% month-on-month; due to the issuance of governance tokens by Uniswap, the network Congestion again, Gas fees soared, and total mining revenue rose by 37% month-on-month.

GlassnodeOn September 17, according to the Ethereum browser, the average gas fee for a single transfer on Uniswap has reached 770 gwei, or about $6.16; the highest gas fee is 1000 gwei, or about $8, a record high.

In addition, OKLink data shows that on September 17, the fee income of Ethereum miners was 4 times that of the block reward: the average income per block was about 10 ETH, of which the system block reward was 2 ETH, and the remaining 8 ETH were all fees fee income.