Dec 12, 2022
Weekly news from Kusama & Polkadot #58
1. OmniBTC has won the 34th parachain auction on Polkadot
OmniBTC recently won the 34th auction on the Polkadot network by collecting 53,4k DOT worth ~$274k from 617 contributors. The beauty of candle auctions showed itself, cause OmniBTC was leading the auction only for about 1/4 of the time.
OmniBTC is an omnichain financial platform for web3, that includes two key features, which are swapping and lending.
Key features of Omnichain:
- Omnichain Swap. Based on LayerZero, an omnichain interoperability protocol, users can swap any token between chains with one click.
- BTC Omnichain Lending. Combining BTC Layer2 smart contract platform ChainX and omnichain interoperability protocol LayerZero, users can lend their BTC and also borrow any stablecoin on any chain.
2. Bifrost enabled XCM integration with Astar and Shiden
After opening bi-directional HRPM channels between Bifrost and both Astar Network and its canary Shiden, those parachains XCM integration is now fully enabled. This will lead to bi-directional trades including ASTR DApp Staking and liquid staking of vASTR on Bifrost!
One parachain’s ability to make remote calls on another’s is made possible by XCM, which is a beneficial component for the liquid staking solution that Bifrost offers via XCM for ASTR and SDN tokens.
Other Bifrost liquid staking derivatives are vDOT & vKSM. Their availability on Astar & Shiden will build the case of cross-chain derivative minting and redemption, and interact with Astar borrowing or lending protocols by achieving remote liquidation and swap.
By utilizing ASTR for DApp Staking, vASTR could be another case for liquid staking.
3. Acala engineering team has delivered Chopsticks — a new open-source testing client
The Acala engineering team has delivered a new open-source tool for the Dotsama ecosystem called “Chopsticks”.
Chopsticks is a new testing client that allows developers to fork a Substrate-based network for testing that can simulate the same environment as the mainnet. With Chopsticks, devs will be able to modify the on-chain state of the fork-net arbitrarily, as well as stub host functions.
With the fork, devs are able for example to replace council members or test Treasury proposals.
Chopsticks is a new testing client to help developers create a parallel reality of any Substrate-based network instantly. It was created to eliminate moments when Governance or Treasury votes have had to be redone due to unexpected errors because there were no tools for developers to test them accurately and easily.
4. DEX screener now supports Acala
DEX Screener, a tracking and charting tool of decentralized exchanges in real-time for over 20 different chains, added support for the Acala parachain. Acala users can now use DEX Screener for real-time DEX trends, analytics, and charts.
From now on, all pairs on Acala Swap are supported on the DEX screener website, including tracking asset movements, volume, makers, as well as useful features like adding a pair to the watchlist, in-app price alerts, and telegram price alerts.
Dexscreener is planning to launch the mobile app soon in the future, which is currently in Beta testing.
5. Mangata X listed BNC, vKSM, vsKSM and vMOVR
Mangata X recently opened a new HRMP channel with Bifrost, which enabled to list of four new tokens into the Mangata X DEX based on Kusama.
BNC, vKSM, vsKSM and vMOVR are newly listed tokens, which will create new liquidity mining incentives and arbitrage opportunities for Mangata X users.
On the other side, MGX, the native token of Mangata X, will become available on the Bifrost chain.
6. LIT token is now live on Coinbase
LIT token, a native token from Litentry parachain, now became live on Coinbase and CoinbasePro exchanges. It’s now tradable in the trading pair LIT/USD.
The LIT token serves as the utility asset of the Litentry Network, which provides access to the network’s features including governance, staking, and identity linking.
Litentry is a Decentralized Identity Aggregation protocol across multiple networks. It features a DID indexing mechanism and a Substrate-based credit computation network. Litentry protocol provides a decentralized, interoperable identity aggregation service that relieves the difficulty of resolving agnostic DID mechanisms.
Consider supporting us by nominating your tokens to the Kusama or Polkadot validator going by the POLKADOTTERS name.
