Weekly News from Polkadot & Kusama #90
1. LayerX Network has won the 95th parachain auction on Kusama
LayerX Network has won the 95th parachain auction on Kusama by self-funding 54 KSM worth ~1,26k USD.
LayerX Network is a layer 2 solution for Ethereum secured by the Kusama relay chain. LayerX Network plans to enrich the Polkadot ecosystem by introducing synthetic versions of Ethereum native currency ETH and Ethereum-based ERC-20 tokens. Prefixed with ‘lx’ (e.g., lxETH, lxUSDT), these tokens will have a 1:1 value relationship with their originals. Users can deposit ERC-20 tokens into LayerX’s vaults and receive equivalent synthetic tokens on Polkadot using smart contracts and oracles.
By leveraging Polkadot’s staking mechanism, lx-token holders can earn passive income from staking profits. LayerX aims to foster interoperability, reduce transaction costs, and provide a wide range of use cases within the Polkadot ecosystem.
2. Fireblocks integrates Astar Network, enabling secure access to leading Japanese blockchain for institutions
Fireblocks, an enterprise platform for digital asset operations, has integrated Astar Network, allowing over 650 banks and institutional investors to securely access their digital assets on Astar and participate in its DeFi ecosystem.
Through Fireblocks, users can trade, swap, and lend digital assets on Astar, including access to leading DeFi protocols like ArthSwap. Astar’s support for the EVM environment and WASM has made it a go-to-market chain in Japan, and this collaboration will further enhance digital asset adoption in the country.
3. Astar Network announces Astar Tokenomics 2.0: pioneering sustainable growth and burning strategy
The highly anticipated Astar Tokenomics 2.0 has been revealed by Astar Network, marking a significant milestone in their journey toward long-term success and sustainability. With an innovative approach, Astar aims to further boost the burning of transaction fees through DApp Staking Burning.
Projects categorized into tiers based on their value to the ecosystem will receive more support from the community, while unfilled slots in each tier will see their rewards permanently burned, laying the foundation for a thriving future at WebX, Asia’s Leading Web3 Conference.
4. HydraDX treasury diversifies into iBTC using autonomous DCA feature
HydraDX, a leading decentralized trading and liquidity protocol in the Polkadot ecosystem, has voted to use the trustless, autonomous Dollar-Cost Averaging (DCA) feature to diversify its treasury into Interlay's iBTC.
The protocol’s innovative approach involves a series of trustless Dollar Cost Averaging (DCA) orders into trustless iBTC, which is then seamlessly LPed (liquidity provided) into the Omnipool, bolstering trustless trading and reinforcing HydraDX’s position as a leader in the DeFi landscape.
With 550k DAI worth of orders already executed through on-chain referenda, HydraDX plans to convert a total of 750k DAI to iBTC in the coming weeks. This move showcases the growing interest in DeFi services within the Bitcoin ecosystem, with HydraDX being one of the largest iBTC holders.
HydraDX’s decision to diversify its treasury into iBTC using the autonomous DCA feature is truly groundbreaking, making it the first project within the Polkadot ecosystem to pioneer such a strategic move, setting a remarkable precedent for other projects and parachains to follow suit and explore new possibilities for treasury management and DeFi services integration.
5. Bifrost hits a milestone: 1,000,000 vDOT minted, showcasing Liquid Staking’s vibrant future on Polkadot
Bifrost, a trailblazer in Liquid Staking on Polkadot, achieves a significant milestone by minting 1,000,000 vDOT, demonstrating the robustness of their LSD offerings. This achievement further solidifies the thriving Liquid Staking narrative in the blockchain space.
As Liquid Staking gains popularity, Bifrost’s innovative reward-bearing tokens method for issuing rewards sets them apart in the market. To streamline the user experience and enable seamless cross-chain integration, Bifrost employs parallel chains for all LSD assets and utilizes Polkadot’s XCM to implement the OmniLSD App, unlocking new possibilities for Polkadot’s LSDFi development.
6. Crust EVM Storage expands to support Arbitrum ecosystem, enabling seamless decentralized storage integration
Crust Network, renowned for its secure and efficient decentralized storage, has made waves with its latest offering, Crust EVM Storage, now supporting the Arbitrum ecosystem. This integration with Arbitrum, a Layer 2 scaling solution for Ethereum, enables developers to utilize Crust’s storage services by placing orders on Arbitrum.
The collaboration between Crust and Arbitrum marks a significant milestone in decentralized ecosystem evolution, promoting interoperability and empowering developers to leverage the power of decentralized storage in their applications.
7. Pablo DEX adds new Cosmos-Polkadot polls like ATOM/DOT and welcomes DOT and KSM on Astroport
Pablo Finance has recently introduced new liquidity pools that allow users to access ATOM, stATOM, and STARS alongside OSMO directly on their DEX platform. The pools feature various pairings across Polkadot and Cosmos ecosystems, such as:
- DOT/ATOM
- DOT/stATOM
- DOT/STARS
- DOT/SCRT
- DOT/CRE
- DOT/NTRN.
Additionally, Pablo Finance will soon roll out PICA incentives for the DOT/ATOM and DOT/stATOM pools.
Moreover, DOT and KSM have arrived on Astroport, enabled by Picasso Network, CosmosIBC, and Neutron on Centauri, offering USDC/DOT and USDC/KSM pairs.
8. Manta Partners with BurgerCities to launch zkBurger, empowering privacy and Web3 experiences
Manta Network, a leading privacy blockchain platform, has joined forces with BurgerCities to introduce zkBurger, an innovative solution that enables BurgerCities community members to enjoy Web3 products and experiences with enhanced privacy and security.
Through zkBurger, community members can obtain a zkDID, preserving their valuable identity without revealing sensitive information. With Manta’s cutting-edge zk innovation-proof key, zkBurger integrates seamlessly with any mobile application in both Web2 and Web3, expanding its reach across diverse chains and ecosystems. Eligibility for this exclusive minting event is extended to holders of select NFTs, making zkBurger a sought-after addition for privacy-conscious users.
- Strengthen Polkadot by nominating your DOT tokens to POLKADOTTERS, community builders for the Polkadot ecosystem
- Support Polkadotters Shrimp and Polkadotters Octopus on Polkadot and be a part of a more secure Web3 future
- Delegate your DOT or KSM to Polkadotters for easy participation in the on-chain governance via Talisman or Nova wallet
