The most jolly time of the year is dawning upon us, and as we supercharge through the end of 2021, let’s look back on some of the things that took place in November.
- Miami Crypto World
Earlier in the month, Ivan was invited to be one of the speakers at Miami Crypto World 2021, an event jointly presented by Cryptonite and Miami Crypto Experience. During the fireside chat with Patrick Teo, the CEO of Novum Alpha, a leading digital asset management firm, Ivan shared his personal insights on the rise and evolution of DeFi, as well as upcoming trends in the DeFi space.
Ivan attributed the rise of Automated Market Makers (AMMs), and the popularization of staking-based incentive mechanisms as the catalysts for the DeFi boom. Towards the end of the chat, Ivan also shared two key DeFi trends, and dropped hints on what’s next at Switcheo Labs: cross-chain aggregators and DeFi derivatives!
2. Development Updates
A whole slew of development works were underway in November, and we are proud to share the following updates!
a. Migration works from Switcheo TradeHub to Carbon
Switcheo core devs has successfully migrated Carbon from Cosmos-SDK v0.42 to v0.44. Carbon's Stargate upgrade will thus include all enhanced features brought in v0.44. You can check out the full list of updates in the changelog here.
b. Decentralized Relayer Network - Hydrogen
Carbon has handled over 52,000 cross-chain transactions since it launched. This is a commendable feat, but to truly become the core of a multi-chain world, we've recognized a need to enhance the cross-chain experience on Carbon. As such, we're excited to update that work has begun on an enhanced relayer network!
With this, we envision superior visibility for all cross-chain transactions on any bridge that Carbon supports, more robust APIs, faster cross-chain finality speed, better reliability, and of course, greater decentralization of the relayers.
After launch, users will never wonder about the status of their cross-chain transfer any longer. More details will be announced soon!
Read more about this under the “Complete Decentralization” category of the Carbon Roadmap.
3. The Bear Market - Operation Beary Special Rescue
A special operation was conducted to rescue 15 unique bears from the remaining unminted NFTs, which we felt contributed to the overall artistic value of the collection. To maintain the scarcity, remaining bears were burnt — bringing the total collection size to 7521 bears.
These 15 unique bears will be rewarded to active bear holders in future exclusive giveaways. The first giveaway happened in the same month through a Twitter Profile Pic Campaign, with a lucky pawrent walking away with a new Zombie Bear #6980. For other pawrents, you may just be the lucky one next. So do stay tuned and check out The Bear Market’s Twitter for more updates.
4. ZilSwap NFT Marketplace - ARKY
November marked the first month of ARKY, ZilSwap’s very own NFT marketplace. In the first month, ARKY has successfully onboarded 22 collections, with over 3.3M ZIL worth of secondary NFT sales transacted!
A public NFT minter is being developed to allow community members to create and mint their very own NFT collections directly on ARKY. Each collection will be deployed on it’s unique contract and will follow the ZRC6 standard set out by the Zilliqa core team. Another feature also in the works is an integrated reward claimer which will allow $ZWAP and The Bear Market holders to claim their rewards directly via the ZilSwap dashboard.
Check out some of the exclusive perks for ZWAP and bear holders here.
About Switcheo Labs
Switcheo Labs is a creative and experimental think tank that guides and nurtures decentralized ecosystems in the DeFi space. Founded in 2018, Switcheo Labs was born out of a simple desire to make finance accessible and trust optional. Recognizing the financial challenges that currently exist, Switcheo Labs innovates on robust alternatives to put power back where it rightly belongs, in the hands of the people.
For more information on Switcheo Labs: