A bear market comes with a healthy dose of reality, and certainly its own set of challenges. Often, it's the hard work and innovation during this period that will bear fruit over the upcoming months. This recap provides a view into our recent developments and progress over the past month as we focus our efforts on the areas that matter.
1.1. Native Bridge on CarbonHub
Cross-chain interoperability is foundational in unlocking the potential of digital assets. Without bridges, blockchains continue to be siloed and disconnected from one another. Built atop the bridge module, we introduced Carbon’s native Bridge this month, a cross-chain interoperability solution enabling transfers of assets without needing to create a Carbon account in the process. This will allow users to bridge assets between blockchains in just one transaction.
As you must know, CarbonHub was designed to be a token-focused, one-stop, cross-chain dApp for any SWTH-related action. Currently, the bridging function on CarbonHub supports bridging of SWTH tokens to and fro Carbon and EVM chains (ETH/BSC), with support for Neo and Zilliqa chains coming soon.
Feature customization includes
• Easy switching between Source & Destination Chain
• Toggling of Approval Amount (to your liking)
• Checking for approved transactions via CarbonScan
• Monitoring of Bridge History
Currently, Carbon already powers ZilBridge on ZilSwap, enabling cross-chain transfer of Zilliqa & Ethereum-based assets, a first in the crypto market. With Carbon’s native bridge, bridging to and from Zilliqa will soon be easier than ever as it will only require a single transaction.
Supercharging seamless cross-chain transactions, Carbon’s native bridge is not constrained by any sovereign chain. This means that users will be able to bridge any tokens to their supported chain of choice in time to come. Carbon’s upcoming swap module is also designed to empower users to swap tokens across chains easily. Instead of having to deposit > swap > withdraw, think instantaneous one-click token swaps (like on Uniswap). Up next, in a nod towards true decentralization, we will be launching the Hydrogen dashboard for superb visibility of transfers on Carbon too.
Together, Carbon looks forward to stewarding the IBC ecosystem.
1.2. Integration with ATOM and JUNO
We’re beyond thrilled to share about Carbon’s latest IBC integration with Cosmos Hub and Juno Network. With Carbon's permissionless listing module, we're set to unlock greater cross-chain utility for $ATOM and $JUNO.
1.3. Listing on Ping Explorer
In other (exciting) news, we're now listed on Ping Explorer, a light explorer for Cosmos-based blockchains.
Transparent visibility and access to on-chain data from Carbon has been of utmost importance from the get-go. To view detailed information relating to transactions on Carbon, head over to Carbonscan, Carbon's native blockchain explorer.
1.4. Carbon v2.7.0 and v2.8.0 Software Upgrades
As we work on our next major upgrade, our two latest software upgrades comprised mainly of bug fixes and minor improvements - important milestones to hit nonetheless as the team strives towards making user experience a fuss-free and seamless one.
2.1. Maker vs Taker Futures Trading Competition #2
Calling all traders! The last futures trading competition ended with a bang so we thought, why not give it a go again? Beyond excited to share that the Maker vs Taker futures trading competition #2 is currently ongoing until 30 September, 2022 8AM (UTC).
Similar to the previous competition, traders can trade on the BTCUSD or ETHUSD futures markets with $USDC as collateral, at up to 50x leverage, for a chance to win from a $20,000 prize pool (with further maker incentives to be earned on Demex).
Do you have what it takes to emerge victorious? For more information about competition guidelines, rules and prizes, click here.
2.2. Permissionless token listing and market creation
Tap into the world of permissionless listings with Demex, made easier now with the newly released "Import Token" and "Create Market" features.
Looking to trade new tokens? All you need is the token's contract address on any of Carbon’s supported chains and you're good to go. Make this platform your own and start importing tokens today.
Previously, to create markets permissionlessly, users had to first check if the desired tokens are already supported on Carbon. Only then can they proceed to add their desired markets via the governance process. We understand this multi-step process could be tedious at times. With the "Create Market" function, for spot markets, users need only select their base and quote token, and for futures markets, the underlying token, settlement token and expiry date — and they're good to go!
This empowers the community in having a stake in what markets or tokens they wish to see listed or delisted on the platform, regardless of token popularity or market capital.
The first step to adding new markets (spot or derivative) on Carbon, is to check if the desired tokens are already supported on Carbon. If tokens are already supported on the protocol, anyone can proceed to add their desired market at a fee of 5000 SWTH. If token is yet to be supported, users can add their desired token via the import token feature on Demex. For more information on how to list tokens and create markets on Carbon, follow our guides here and here.
Stay tuned for more as we continue to unlock new DeFi paradigms.
2.3. Deposits and Withdrawals for ATOM and JUNO Enabled
In line with Carbon's integration with Cosmos Hub and Juno Network and coupled with the permissionless listing function on Demex, deposits and withdrawals for ATOM and JUNO have been enabled. This will enable users to create their preferred ATOM and JUNO pairings.
P.S. The community has since successfully created three new markets — ATOM/SWTH, ATOM/BUSD and JUNO/BUSD. To begin trading, click here.
3. A Zolar Special: Everything, everywhere all at once
3.1. Completed — Mission I: Takers of the Moon
There's never a dull moment in the mystical sphere that is Zolar. Just last month we announced the birth of Gen 2 Metazoa and now we bring to you news that all Metazoa have been summoned. Crazy, I know!
Your wish is our command — As Mission I: Takers of the Moon comes to a bittersweet end, we have consolidated a bunch of statistics to wrap up the battle for $HUNY. From Player Stats to HUNY Summary and Locked HUNY Distribution, check out the thread below for more sweet, juicy information:
3.2. Mission II: The Right to Bear Arms
Psst. You thought that was the end? Constant vigilance, my fellow combats. Just as Metazoa everywhere rejoice in their victory and immerse themselves in the new-found peace, news broke out that a rift has split wide across the Zolarverse.
Fresh from the cracks, peculiar and mystical artefacts (known as Z-Ordnances) are sprouting out everywhere. The H.U.G.E. recovery teams have been deployed to track these relics down, and scientists are rushing from all corners of the metaverse to study these recently discovered items.
- Galaxy Gems
While potentially powerful, these artefacts are old and unusable and need to be repaired or recreated for further use. And as it turns out, Elderberries possess tremendous power within their juices, and can boost Metazoa's overall combat abilities — but it comes with a catch: Elderberries are poisnonous and can only be consumed after being imbued with $HUNY.
The time has come again for Metazoa to make a choice. Hone your skills and choose your Professions wisely —
- Marauder: Search for Zolarium Scraps to weld Z-Ordnances
- Psionic: Forage for Elderberries to obtain Elderberry Juice
- Astrominer: Hunt for Geodes to extract Gemstones
Coming to you in 4 phases, for Phase 1, Metazoa beware! Gear up and prepare yourselves for a renewed battle. Check out the new statistics of your Metazoa, determined by Base Class, Stat Bonus Genes and Rarity, here. Check out what the stats mean here.
Note: Phase I of Mission II is set to launch in Q3 of 2022. For the latest updates in the Zolarverse, follow us on our socials here and here.
In Phase 2, Metazoa will choose their professions, and in Phase 3, they will have to first accumulate enough raw resources by staking them in their profession sites - Moon Battlegrounds, Zolar Asteroid Belt or The Elder Woodlands. Once they have collected enough resources, they can use $HUNY to refine the raw materials into Z-Ordnances, Gemstones, or Elderberry Juice. This will help to increase Profession gathering efficiency, which will come in handy in Mission III. Finally, in Phase 4, commanders can purchase raw materials from the ZOMG store to further fortify their battalion.
For a more detailed mission brief (and to know more about Mission III), click here.
P.S. As all Metazoa have been summoned, to join the battle, you'll need to purchase a Metazoa from ARKY.
3.3. Side Mission: A Race for Prestige — Joined a Guild yet?
Guilds are where like-minded Zolarians come together to realize a common vision. With Guilds, players can form their own communities, shape their own rules, and forge their own destiny. Whether you decide to be a Merchant, Mercenary, Warrior or Guardian, there's a home for you somewhere.
Guilds will be an integral part of battle in the Zolarverse, so join a Guild with careful deliberation — Metazoa, be on your guard and band only with those you identify with.
From Guild Bank, Guild Item Drops and Guild Technologies to Guild Armory and Guild Quests, click here for everything Guild-related.
Friendly note: Captains and Officers, assemble! Keen to change up your Guild's aesthetics? Update your Guild profile here.
4. Switcheo Research
Switcheo Research is the research arm of Switcheo Labs dedicated to exploring the current happenings and developments in the crypto space. Catch up on some of the latest articles below:
This month, the team has also unveiled a new series aptly titled Strategies:
- 5 Best Day Trading Strategies
- 3 Proven Spread Trade Strategies
- Using Stablecoin Market Cap to Swing Trade in 2022
About Switcheo Labs
Switcheo Labs is a creative, experimental think-tank and software development house that focuses on forming the foundations of a new decentralized world. Founded in 2018, Switcheo was born out of a simple desire to make finance accessible and trust optional, to give control and power back to users.
With this goal in mind, the team developed a blockchain solution where finance is truly censorship-resistant and decentralized — Carbon, a custom Layer 2 cross-chain protocol that acts as a building block for DeFi. A promising use case for Carbon is seen in Demex, a reference trading UI for Carbon and the world’s first fully decentralized derivatives platform.
Join us in rethinking trust by: