DeFiChain

🚀 The DeFiChain Weekly Update is Here!

Here’s what’s been happening in the DeFiChain ecosystem this week:

✅ Accelerated Growth on DeFiChain’s MetaChain Layer
✅ DFIP Spotlight: Re-peg and Re-collateralize the dToken System
✅ DeFiChain Labs Becomes Node Validator for CrowdSwap
✅ Big Changes Coming to DeFiChain with the September Hard Fork
✅ Ecosystem Project Updates

All these are covered in our weekly update blog below:

Weekly Update – DMC Growth, DFIP Spotlight, Hard Fork, And More! Discover the latest developments within the DeFiChain ecosystem over the past week in this weekly blog update.

DFIP Spotlight: Re-peg and Re-collateralize the dToken System

The dToken system is central to the DeFiChain ecosystem, yet recent issues have made it increasingly difficult to use it effectively. An approved DFIP is poised to address these challenges head-on, focusing on the re-pegging and re-collateralizing of the dToken system.

Learn more about it in our latest blog post:

DFIP Spotlight: Re-peg and Re-collateralize the dToken System The dToken system is a cornerstone of the DeFiChain ecosystem, yet recent issues have made it increasingly difficult to use it effectively, largely due to some decisions in the past that have proven less than optimal. A DeFiChain Improvement Proposal (DFIP) has been approved lately that is poised to...

DeFiChain's MetaChain layer has seen above average growth in the last 2 months! Major projects like Javsphere, Dex Trading Live, Crypto Factor, MarbleFi, SeahorseFi & more are driving innovation and leveling the DeFi playing field.

Ready to build your own dApp on DeFiChain's EVM-compatible MetaChain layer? Get all the info you need here:
https://blog.defichain.com/building-your-first-dapp-on-defichains-metachain-layer-a-beginners-guide/

🚀The DeFiChain Weekly Update is Here!

Here’s what’s been happening in the DeFiChain ecosystem this week:

✅ DeFiChain Labs Becomes Node Validator for Crowdswap
✅ DeFiChain Labs Tech Sync
✅ Big Changes Coming to DeFiChain with the September Hard Fork
✅ Ecosystem Project Updates

All these are covered in our weekly update blog below:

Weekly Update – Crowdswap Node Validator, Tech Sync, September Hard Fork, And More! Discover the latest developments within the DeFiChain ecosystem over the past week in this weekly blog update.

Big Changes Coming to DeFiChain with the September Hard Fork

DeFiChain’s mid-September Hard Fork is on the horizon, and it’s packed with updates aimed at improving the user experience and network efficiency. Here’s a breakdown of what’s coming.

Revamped Owner Rewards Calculation: Addressing long-standing bugs, this update aims to streamline how owner rewards are calculated. The fixes are expected to be finalized by the end of the week, ensuring a smoother experience for all users.

Faster Block Time: While increasing block speed has long been on the agenda, the team is approaching it with caution. The plan is to gradually enhance block time as the underlying infrastructure becomes capable of handling the changes without compromising stability.

Token Ownership Update: One of the most anticipated changes is the ability to transfer ownership of data. This will be implemented through a major pull request (PR) that is currently in progress.

Token Deprecation: To prevent confusion among users, a new feature will allow tokens to be marked as deprecated, using a prefix like “EOL” (End of Life). This will clearly indicate when a token is no longer in use, helping to maintain a clean and efficient token environment.

Rejecting Past Time Blocks: This update is designed to enhance the Ethereum Virtual Machine (EVM) layer by ensuring blocks are processed in the correct chronological order - a crucial step in maintaining blockchain integrity.

What’s Next? While the exact date is still being finalized, the DeFiChain Labs team is hard at work ensuring all these updates are ready to be rolled out smoothly. Stay tuned for more updates as we approach this critical upgrade!

DeFiChain Labs is proud to announce its role as a Node Validator for CrowdSwap’s Cross-Chain Solution.

This development marks another milestone for DeFiChain Labs and further reinforces its commitment to sustaining critical infrastructure within the DeFiChain ecosystem.

Learn more in our latest blog post:

DeFiChain Labs Becomes Node Validator for CrowdSwap's Cross-Chain Bridge DeFiChain Labs is proud to announce its role as a Node Validator for CrowdSwap's Cross-Chain Solution. This development marks another milestone for DeFiChain Labs and further reinforces its commitment to sustaining critical infrastructure within the DeFiChain ecosystem. Understanding Cross-Chain Bri...

🚀The DeFiChain Weekly Update is Here!Here’s what’s been happening in the DeFiChain ecosystem this week:

✅ New Listing: DeFiChain’s $DFI Now Trading on Coinstore
✅ DeFiChain Labs Tech Sync
✅ Special DFIP: Eliminate the 0.5% Additional Fee for dToken Swaps
✅ Ecosystem Project Updates

All these are covered in our weekly update blog below:
https://blog.defichain.com/weekly-update-new-listing-tech-sync-sdfip-implementation

New Listing: DeFiChain’s $DFI Now Trading on Coinstore

We are excited to announce that $DFI, DeFiChain’s native token, is now available for trading on Coinstore, a leading exchange in the APAC region. This listing is a major step forward, enhancing accessibility and liquidity for our expanding ecosystem.

Key Details:
📅 Trade & Withdraw Start: August 15, 2024, 18:00 (UTC+8)Join the DeFiChain revolution here:
https://www.coinstore.com/spot/DFIDEFICHAINUSDT?ts=1723712850707

This week, the DeFiChain Labs engineering team held their monthly Tech Sync, providing updates on the current projects and initiatives the team is tackling.

We’ve summarized the key updates here:

DeFiChain Labs Tech Sync – August 2024 The DeFiChain Labs team recently held their monthly Tech Sync, offering valuable insights into ongoing projects and upcoming network enhancements. Here’s a summary of the updates: September Hard Fork The mid-September hard fork is set to introduce several critical improvements to DeFiChain. While ...

DeFiChain Labs Tech Sync

Missed yesterday’s DeFiChain Labs Tech Sync? No worries! Catch the full recap on YouTube where we covered:

✅ Status Updates
✅ Team Projects Progress
✅ Collaborative Bug Squashing on GitHub
✅ Q&A with the community

Watch it now and stay in the loop!

DeFiChain Labs Engineering Sync (August) Welcome to the recording of our monthly Community Engineering Sync - A public monthly community call where anyone from the community is welcome to join! This...

Join us for the 5th DeFiChain Labs Engineering Sync!

📅 Today, Monday, August 12, 2024
⏰ Live at 11:30 (CET) // 17:30 (SGT)
🔗 Join here (https://meet.google.com/pez-xokc-pdn)
🕙 Duration: 45 minutes

This call covers:

✅ Status Updates
✅ Current Team Projects
✅Collaborative Issue/Bug Squashing on GitHub
✅Q&A

Submit your Questions here:
https://forms.gle/wgqqUyf6ookuHo886

Note: This is a technical session focused on engineering topics only, with no discussions on tokenomics, economics, or prices.

Don’t miss this chance to stay informed and get involved with the DeFiChain Labs Engineering team!

Questions for DeFiChain Labs Engineering Sync! Please submit your Questions below

Voting for the Special DFIP proposing a 0.5% fee reduction for dToken swaps whas ended on August 10th (Block Height 4,231,191). The proposal is approved, the changes are in effect since Block Height 4,231,500.

Here’s a summary of the SDFIP:

From the defiblockchain community on Reddit Explore this post and more from the defiblockchain community

🚀 The DeFiChain Weekly Update is Here!

Here’s what’s been happening in the DeFiChain ecosystem this week:

✅ Cast Your Vote on the Special DFIP to Eliminate the 0.5% Additional Fee for dToken Swaps
✅ Understanding Crypto Bridges under MiCA Regulation
✅ A Closer Look at the September DFIP & CFP Voting Round
✅ Ecosystem Project Updates

All these are covered in our weekly update blog below👇

Weekly Update – Special DFIP, Crypto Bridges, Upcoming Voting Round, And More! Discover the latest developments within the DeFiChain ecosystem over the past week in this weekly blog update.

Join us for the 4th DeFiChain Labs Engineering Sync!

📅 Next week, Monday, August 12, 2024
⏰ Live at 11:30 (CET) // 17:30 (SGT)
🔗 Join here (https://meet.google.com/pez-xokc-pdn)
🕤 Duration: 45 minutes

This call covers:
✅ Status Updates
✅ Current Team Projects
✅ Collaborative Issue/Bug Squashing on GitHub
✅ Q&A

Submit your Questions here:
https://forms.gle/wgqqUyf6ookuHo886

Note: This is a technical session focused on engineering topics only, with no discussions on tokenomics, economics, or prices.
Don’t miss this chance to stay informed and get involved with the DeFiChain Labs Engineering team!

Questions for DeFiChain Labs Engineering Sync! Please submit your Questions below

A Closer Look at the September DFIP & CFP Voting Round

Check out our blog for details on the 5 DeFiChain Improvement Proposals (DFIPs) soon up for vote. Inform yourself and don’t miss your chance to have a say in the future of DeFiChain!

https://blog.defichain.com/a-closer-look-at-the-september-dfip-cfp-voting-round/

Cast Your Vote on the Special DFIP to Eliminate the 0.5% Additional Fee for dToken Swaps

A new Special DFIP has been submitted to eliminate the 0.5% swapping fee for all dToken pairs immediately upon approval. This initiative aims to increase trading volume and restore competitiveness to the DeFiChain DEX.

Special DFIPs require a 2/3 approval rate with at least 10% participation from masternodes.

Voting is currently open and will close on August 10th, 2024.
For more information, you can review the submitted proposal on Reddit: https://www.reddit.com/r/defiblockchain/comments/1efsvsr/sdfip_eliminate_the_05_additional_fee_for_dtoken/

Cast your vote here:
https://defiscan.live/governance/03c77f1236c28bb2fc8a94677942127bf73a7b18eaf63604139cbb1599cfa9a9

DeFi Scan – Native Decentralized Finance for Bitcoin DeFi Blockchain, enabling decentralized finance with Bitcoin-grade security, strength and immutability. A blockchain dedicated to fast, intelligent and transparent financial services, accessible by everyone.

Understanding Crypto Bridges under MiCA Regulation

This article is part of our ongoing series about crypto bridges, building on our previous discussion ( https://x.com/defichain/status/1813492033534706023 ) about custodial risks and various other attack vectors.

Crypto bridges are crucial for interoperability between blockchains. However, under (Markets in Crypto-Assets Regulation) and similar regulations, these bridges may fall under various regulatory obligations depending on their structure. Let's explore the key considerations.

In standard bridge implementations, crypto-assets on the source blockchain are often held in custody, even through smart contracts. This custody may qualify as a crypto-asset service under MiCA if it involves safekeeping or controlling assets on behalf of third parties.

Key question: Is the custody function a service by a crypto-asset service provider (CASP)? If yes, it meets MiCA's criteria for regulatory oversight. This aspect has been widely debated and needs careful assessment.

When bridging, new crypto-assets are often issued on the destination chain, representing assets on the source chain. This issuance typically doesn't carry major obligations unless it involves public offerings or certain token types like asset-referenced tokens (ARTs) and E-Money Tokens (EMTs).

Issuing EMTs that reference official currencies of EU Member States is deemed a public offering under MiCA, triggering specific regulatory requirements. This will be a key area to watch in the evolving DeFi landscape.

If issuance is automated via smart contracts without identifiable control, MiCA's Titles II, III, or IV might not apply. This hinges on the interpretation of what constitutes a non-identifiable issuer.

Bridges often facilitate transfers between different blockchains. If these transfers are done on behalf of another party, they may be considered a transfer service under MiCA, which has specific regulatory implications.

If bridging involves a swap or exchange, and a third party is involved in order ex*****on, this may constitute reception and transmission of orders under MiCA. This adds another layer of regulatory scrutiny.

Known as brokerage, if a CASP executes buy/sell orders on behalf of clients during bridging, this could be a regulated activity. It combines order reception and ex*****on, requiring careful regulatory compliance.

If bridging results in a different crypto-asset, and involves the conclusion of purchase/sale contracts using CASP’s proprietary capital, it falls under the exchange of crypto-assets service. This is another critical regulatory aspect.

Navigating MiCA regulation is complex for crypto bridges, requiring thorough analysis of custody, issuance, transfer, and exchange activities. It is anticipated that an increasing number of crypto bridges will need to adapt their business models in the near future to remain compliant with MiCA regulations.

🚀The DeFiChain Weekly Update is Here!

Here’s what’s been happening in the DeFiChain ecosystem this week:

✅ MicroStrategy Stock Split and Its Implications for DeFiChain
✅ Project Spotlight: Crypto Factor
✅ Upcoming SDFIP Vote - Eliminate the 0.5% Additional Fee for dToken Swaps
✅ Ecosystem Project Updates

All these are covered in our weekly update blog below:
https://blog.defichain.com/weekly-update-mstr-stock-split-project-spotlight-special-dfip-and-more

Upcoming SDFIP Vote - Eliminate the 0.5% Additional Fee for dToken Swaps

An important Special DFIP is up for vote soon. Let’s break down the proposal to eliminate the 0.5% additional fee for dToken swaps on the native DEX.

On July 18, 2024, a 0.5% fee was added to dToken swaps as part of the “Re-peg DFIP.” This increased swap fees to 0.7% for normal swaps and 1.4% for composite swaps.

The fee’s purpose? To burn algo tokens and potentially activate a kill switch if DUSD traded above 95 cents consistently. However, things didn’t go as planned.

Despite reduced fees in DUSD/stablecoin pools, we’ve seen a drastic drop in DUSD price. The kill switch is unlikely to activate, and liquidity has taken a hit. It’s time for a change!

The proposal: Remove the 0.5% swapping fee for all dToken pairs immediately upon approval. This move aims to boost trading volume and restore competitiveness to our DEX.

Benefits include:
- Reverting to a market-based fee structure
- Minimizing impact on projects like Javsphere’s TradeX & DexTrading Masters
- Preserving liquidity provider earnings
- Avoiding a lose-lose situation for the ecosystem

Want to dive deeper?
More details and the ongoing community discussion can be found on Reddit. Join the conversation and share your thoughts here ( https://www.reddit.com/r/defiblockchain/comments/1efsvsr/sdfip_eliminate_the_05_additional_fee_for_dtoken/?share_id=au46vRI918kv8bzFVc6Wd&utm_content=2&utm_medium=ios_app&utm_name=ioscss&utm_source=share&utm_term=1&rdt=61269 ).

Your vote matters! Keep an eye out for the voting dates and make sure to participate. Let’s work together to keep the DeFiChain ecosystem thriving!

From the defiblockchain community on Reddit Explore this post and more from the defiblockchain community

Project Spotlight: Crypto FactorCrypto

Factor is the ultimate launchpad for aspiring crypto entrepreneurs. By offering a comprehensive suite of tools and resources, it demystifies the process of bringing a blockchain project to life.

Find out more about Crypto Factor and its achievements so far in the blog post below:

Project Spotlight: Crypto Factor Crypto Factor is the ultimate launchpad for aspiring crypto entrepreneurs. By offering a comprehensive suite of tools and resources, it demystifies the process of bringing a blockchain project to life. The Power of Decentralized Entity Ex*****on Central to Crypto Factor's offering is the concept of....

MicroStrategy recently announced a major change for its shareholders — a 10-for-1 stock split set to occur on August 7, 2024.

This event will have notable repercussions for traditional market investors as well as those engaged with decentralized finance (DeFi) platforms, particularly DeFiChain, where dMSTR tokens can be traded and invested into various products.

Find out what that means for DeFiChain users in the blog below:

MicroStrategy Stock Split and Its Implications for DeFiChain MicroStrategy recently announced a major change for its shareholders — a 10-for-1 stock split set to occur on August 7, 2024. This event will have notable repercussions for traditional market investors as well as those engaged with decentralized finance (DeFi) platforms, particularly DeFiChain, wh...

Understanding Stock Splits and Their Impact on DeFiChain Users

Over the past year, numerous companies have announced stock splits. Companies often choose to split their stocks to make their share prices more appealing to investors.

It’s crucial to implement these changes accurately on DeFiChain. Discover how this process is managed on DeFiChain in our latest blog post linked below.
https://blog.defichain.com/stock-splits/

🚀The DeFiChain Weekly Update is Here!

Here’s what’s been happening in the DeFiChain ecosystem this week:

✅DeFiChain Masternode Voting Round – July
✅Project Spotlight: Dex Trading Live
✅Promote Your Project on DeFiChain's Project Spotlight
✅Ecosystem Project Updates

All these are covered in our weekly update blog below:
https://blog.defichain.com/weekly-update-dex-trading-live-project-spotlight-and-more

Promote Your Project on DeFiChain’s Project Spotlight

DeFiChain’s Project Spotlights highlights innovative projects building on the DeFiChain MetaChain layer, giving them the exposure they deserve.

If you’re developing on DeFiChain and want to be exclusively featured, don’t miss this chance! Get in touch with us and showcase your project to a broader audience.

Project Spotlight: DEX Trading Live

DEX Trading Live strives to become the most comprehensive learning resource for trading on DeFiChain’s decentralized exchange (DEX).
We recently sat down with the founders to learn about their achievements since our last spotlight.

Find out more in the blog below:

Project Spotlight: Dex Trading Live The DeFiChain community is filled with talented builders constantly advancing the ecosystem's capabilities. Today we're spotlighting DEX Trading Live - an educational initiative aimed at promoting decentralized trading. DEX Trading Live is one of the most comprehensive learning resource for trading....

Project Spotlight Podcasts

If you have missed any Project Spotlight episode, you can catch up on all the latest updates and insights on DeFiChain here:

Spotify: The DeFiChain Podcast

The DeFiChain Podcast Listen to The DeFiChain Podcast on Spotify. The DeFiChain Podcast: The podcast that provides you with the latest updates and interesting stories around the DeFichain project. Decentralized finance made easy. The weekly news show, fireside chats, and much more. Hosted by Mark Pedevilla and Daniel Zir...

🚀 The DeFiChain Weekly Update is Here!

Here’s what’s been happening in the DeFiChain ecosystem this week:

✅ DeFiChain Masternode Voting Round – July
✅ DeFiChain Labs Engineering Sync
✅ What Are Crypto Bridges and Why Are They So Vulnerable?
✅ Project Spotlight: Dex Trading Live
✅ Ecosystem Project Updates

All these are covered in our weekly update blog below:

https://blog.defichain.com/weekly-update-voting-round-engineering-sync-project-spotlight

Project Spotlight: DEX Trading Live

DEX Trading Live strives to become the most comprehensive learning resource for trading on DeFiChain’s decentralized exchange (DEX).
We recently sat down with the team to learn about their vision and future plans.

Find out more:

Project-Spotlight with DEX Trading Live Tune in for an exciting DeFiChain Community Twitter Space featuring the founders of DEX Trading Live! Discover how blockchain is reshaping decentralized appl...

Join us live for another DeFiChain Community 𝕏 Space Project Spotlight, with DEX Trading Live

🎙 With DEX Trading Live
🗓 Today: 16th July 2024
⏰ Right now: 15:30 (CET) // 21:30 (SGT)

Join us Live with the Link below:
https://twitter.com/i/spaces/1ypKdpRbXWgKW

Birthday Research is discontinuing active support for Quantum Bridge.
Birthday Research is moving it into maintenance mode and will soon open-source the code for anyone to run, allowing for greater flexibility and decentralization as anyone can be empowered to operate their own bridge.
More Information:
https://x.com/BirthdayDev/status/1813165248980869335