Daily Archives: April 13, 2022

Router Protocol, an infrastructure layer enabling communication between blockchains, today announced it has added Optimism and Arbitrum to its platform.

The community can now transfer funds and swap assets across networks with the largest TVL in cross-chain bridges (Fantom, Polygon, Avalanche C-chain, and Arbutrum), in addition to Ethereum, Optimism, and Binance Smart Chain.

These new integrations offer users access to enhanced interoperability features such as:

• Any token to any token swap across chains – most existing solutions only supports transfers. Router Protocol supports any crypto token swap on the network.
• Support for arbitrary tokens – most cross-chain platforms are permissioned where only listed assets can be traded. Router Protocol allows arbitrary token swaps by aggregating liquidity across all the major DEXes on any given chain.
• Mesh Network – instead of building 1:1 bridges that require dedicated links between chains, Router is building a many-to-many mesh network that allows seamless data flow between various chains. Any chain can be added with a few lines of configuration.
• Settlement guarantee – Router Protocol ensures no blocking for user funds and guarantees settlements of all transactions by providing users equivalent amounts of USDC or RUSDC (which can be redeemed 1:1 for USDC).

“As two of the most popular L2 solutions on Ethereum, this integration marks significant progress in our mission to connect all L1 and L2 chains. We’re proud to deliver a seamless and secure cross-chain experience to these communities.”
– Ramani Ramachandran, Co-Founder & CEO of Router Protocol

Security is an important focus for Router Protocol, having taken several measures to secure its network. In addition to a bug bounty program with the security platform Immunefi, the project has completed security audits from Certik and Halborn and is currently undergoing a third audit from Hacken.

Moreover, the Router team has several security features built into its network including: 

• A modular smart contract architecture – denotes different contracts for functions like liquidity, fees, voting, etc. to separate out functions against monolith structures which is typically followed.
• On-chain validation – the validation is achieved on-chain, which is more secure than protocols using off-chain consensus.
• An Isolated execution module – transactions are executed on a stateless execution pallet that can avoid direct interaction with the bridge reserves. Keeping the reserves isolated from the execution environment prevents malicious entities from accessing the reserve funds.
• A dedicated proxy architecture – Router Protocol retains the option to update the contract in case of any contract vulnerability/bug.

In other developments, the Router Protocol team recently announced a governance proposal inviting the community to decide which two EVM chains to integrate next. The governance event is an important step in the direction of transitioning Router Protocol into a community-governed project.

Coinbase is reducing the number of confirmations required for several assets on the platform. We expect this change to both improve customer experience and security posture.

What’s changed

New confirmation requirements for Bitcoin, Litecoin, Ethereum, and Ethereum Classic pursuant to the table below:

Why we made these changes

Confirmation requirements for assets are based on many factors. These factors change over time just like the assets themselves. To ensure a great customer experience, Coinbase continually evolves our security posture and periodically amends confirmation requirements.

For Bitcoin, Ethereum, Litecoin, and Ethereum Classic, it has been determined that confirmation requirements can be reduced. In practice, this means that deposits will be confirmed on Coinbase faster than before while still meeting a high bar for asset security.

MappedSwap, a high-performance decentralized swapping protocol supporting up to 10X leverage for on-chain margin trading, will award 800,000 MST to its global community in a month-long campaign from April 13, 2022.

According to the DEX, the campaign’s objective is to popularize some of the protocol’s exciting features, including a staking feature suitable for preserving value during a steep bear market and a non-hierarchical referral program designed to draw maximum benefit for participating users.

600,000 MST For a Social Media Campaign

As part of the campaign, MappedSwap will be offering 600,000 MST in a social media promotion where 50,000 users drawn from the Twitter and YouTube communities will be rewarded for completing simple tasks. To stand a chance to win a part of the 600,000 MST, users on Twitter will be required first to follow the trading protocol. Afterward, they have to like and retweet MappedSwap’s promotional tweet, tagging three friends as they spread out the message.

The exchange aims to tap on the all-important network effect generated from the thousands of users on Twitter, helping reach out the prospective users who will then connect to the platform enjoying the high performance of the secure, low-fee on-chain margin trading protocol. In the last step, users will also have to watch a YouTube video and share a mystery code.

MappedSwap requires participating users to complete all the steps in this campaign to qualify for the free $12 worth of MST. Winners will be notified via Telegram after a 24-hour verification period.

200,000 MST For Active Traders and Promoters of MappedSwap’s Referral Program

In the second part of the MappedSwap campaign, the protocol will seek to distribute 200,000 MST to participants. Users will complete any of the three steps offered in this campaign. Specifically, in the first step, users may choose to share the MappedSwap referral program link to users on Twitter and stand a chance to win 5 USDM. This slot is only open for the first 10,000 users and will be awarded on a first-come, first-serve basis.

The second and third steps will be available for 4,000 and 1,000 traders, respectively. There, active traders will be required to maintain their position on the leaderboard for a chance to receive rewards from the prize pool.

MappedSwap is a Superior Margin Trading Protocol with a 10X Leverage

Traders will experience the distinguishing features of MappedSwap. Interested traders will plug into the trading protocol using the Eurus Wallet or MetaMask since the underlying blockchain anchoring MappedSwap is EVM-compatible.

MappedSwap is one of the most funded trading DEXes allowing up to 10X leverage. Notably, traders can take loans. If they repay within one hour, the loan will be interest-free.

At the same time, MappedSwap has one of the industry’s lowest slippage tolerances of less than 0.01 percent. Furthermore, because of the highly scalable Eurus blockchain, MappedSwap’s transactions settle in less than two seconds.

Lucrative Staking and Referral Program

However, most importantly, the second campaign highlights MappedSwap’s lucrative referral program.

By adopting a non-hierarchical model, referrers can earn up to 40 percent rebates for every user who subscribes without necessarily trading and up to 80 percent for successful conversion.

Meanwhile, users who choose to stake their MST earn 100 percent + 20 percent extra APY during the promotional period. Staked MST can be withdrawn over 50 weeks, while the extra 20 percent can be withdrawn anytime.

The IOST Foundation, the organization behind the IOST blockchain, a gas-efficient proof-of-believability-powered smart contract platform, announced today together with venture capital institutions and ecosystem partners, the launch of a new $100 million USD incentive fund for EVM developers, aiming to incubate projects and propel the growth of IOST’s multi-chain ecosystem.

On March 31, 2022, IOST unveiled Project Entroverse, a roadmap goal to build a growing, interoperable, and interconnected blockchain network.

This newly announced 100 million USD fund under Project Entroverse targets developers around the world, and consists of the “New Ecosystem Fund” and the “Accelerator Fund.”

• New Ecosystem Fund to expand IOST’s on-chain applications, mainnet infrastructure, and tools.
• Accelerator Fund will provide capital, FA, and bonuses to development teams and projects via IOST.

Big Candle Capital (BCC) Seeks to Fuel IOST and More

The leading investor of the fund is Big Candle Capital. The scope of this exclusive fund is not limited to applicants developing dApps on the IOST chain exclusively; all outstanding projects deployed on other EVM-compatible chains with multi-chain development plans are also welcome to apply for support.

Big Candle Capital is a venture capital firm established in 2017 by the IOST Foundation in conjunction with several investment institutions and ecosystem partner nodes. Big Candle Capital has invested in more than 80 projects, including IOST, LINK, BNB, DOT, UNI, and DYDX, which were highly successful and achieved an overall return of 1000%, with a peak operated asset valuation of over $700M.

BCC is focused on projects at various stages of development in sectors including DeFi, NFT, GameFi, Web3, and Metaverse-based dApps. However, all teams and ideas are welcome. Moreover, BCC also provides auxiliary services such as funding, technology, token model, advertising, community building, and connections with exchanges for the invested projects.

Details of Entroverse Fund

New Ecosystem Fund

1. Market Analysis: A successful project applicant will be offered market research and in-depth industry research reports developed by the Big Candle Capital (BCC) team who have more than 5 years of experience in blockchain research.
2. Token Setup: The project team will be assisted by BCC’s professionals who have experience in developing token economic models and assisting in project incubation.
3. Structure Design: Project teams will be provided with targeted successful case studies such as popular dApps for reference.
4. Promotion: Teams will receive media support and promotion through BCC’s network of media connections and high-quality communities.

Accelerator Fund

1. Non-Dilutive Funding: BCC will provide non-dilutive funding for teams building applications on the IOST chain, integrating the IOST mainnet, and with needs to implement IOST tools.
2. FA: BCC will offer FA support for skilled developer teams with no experience in the industry, allowing new projects to get start-up capital quickly.
3. Incentive Bonuses: BCC will arrange irregular bonuses to start-ups and teams based on their user base, activity, and TVL.

BCC’s Investment Philosophy & Services for Developers

Investment Philosophy

• BCC’s exclusive fund is not limited to applicants developing exclusive dApps on the IOST chain. Outstanding projects deployed on other EVM-compatible chains with multi-chain development plans are also welcome to apply for support.
• The main focus of BCC’s investment is on DeFi, NFT, GameFi, Web3, and Metaverse-based dApps. However, all creative teams and ideas are welcome.
• BCC supports angel, seed, strategy, A round, B round, C round, and Pre-IPO investments, and both investments in token and equity simultaneously.
• Investments range from USD $30,000 to USD $5,000,000.
• To achieve the best ROI, BCC examines projects and teams in detail using its strong network and data analysis facilities centered in Asia
• BCC makes diversified investments according to the assets’ life cycle and trends to minimize risks.

Advisory Services & Team

BCC provides auxiliary services such as capital, technology, token model, advertising, community building, and connections with exchanges for the invested projects.

Headquartered in Singapore with offices in Barcelona, Tokyo, Seoul, and Madrid, the Big Candle Capital team consists of more than 40 experienced professional investment professionals with first-class business capabilities and rich resources in the blockchain and traditional financial industries.

Connecting with Big Candle Capital

BCC is now openly inviting all interested developers and teams to join the IOST multi-chain ecosystem.

To apply, the BCC team asks those interested to attach the below info in an email to business@bigcandle.capital.

• Project Description
• Team Introduction
• Financing Status
• Whitepaper

“The cooperation between IOST & BCC, and subsequently the launch of the IOST 100M dollar fund for the EVM developers is a game-changer for the IOST ecosystem. This incentive program offers long-term support for potential developers and projects, adding more killer dApps on the IOST blockchain while strengthening our infuence and the value of IOST for its long-term hodlers.”
– Blake Jeong, IOST CMO