Stakes and free dinner for Lumen holders, Block One gets in trouble with the SEC and forfeits assets and Ripple does what it does best - XRP reallocations
SushiSwap co-founder speaks and Binance's DeFi attraction
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Top shelf
From the SEC's decision on EOS reserves, through Ripple's huge new Community Incentive Initiative, to Stellar's Staking Marathon getting backed by Reid Hoffman, the crypto world will not disappoint this week. Many of our readers showed interest in these 3 developments, with some of them already reporting receiving their share of distributed tokens.
$XRP 5.3 Billion set to hit the market The company posted on twitter saying:
"5.3 Billion XRP to be redistributed to thousands of qualifying XRP holders in the new Incentive Program."
Some of our readers have already reported success receiving their loyalty reward on their current balance, despite withdrawing XRP from exchangers minutes before. As many have done the same, the organizers of the event have introduced new requirements. Have a look at our hourly updated article on the topic.
100 Million EOS set to hit holders The SEC has successfully cornered Block One and coerced them to give up a big chunk of their EOS reserve. The event sparked users to demand compensation. The whole legal back and forth, has now resulted in an official SEC decision, forcing the reallocation of 100 million EOS.
This has drawn wide interest over the recent hours, with some of our readers reporting successfully going through the process already.
Those of you interested in applying should begin here.
Stakes and free dinner for Lumenauts! As most of you have probably seen, some reputable crypto figures have broken the news of a new Community Staking Marathon by the Stellar Foundation.
Sydney Ifergan, the crypto expert, tweeted: “I am able to see that the Stellar Network is attracting beginner developers with its Community Staking Marathon worth almost 6 Billion Lumens and also voices of wisdom from people like Reid Hoffman, LinkedIn.”
Those of you interested should ensure that their Lumen holdings are in a wallet outside of an exchanger, and read the Stellar Foundation's blog post for up to date links and detailed information about applying.
Uniswap volumes Uniswap topped August’s record high trading volume in the first 10 days of September, reaching $6,729,691,041 mid-morning on Thursday, leaving almost three weeks to push further into record territory. Last month’s $6.7 billion in traded volume was the leading decentralized exchange’s fourth consecutive all-time monthly high. Liquidity on Uniswap, however, has dropped by over 60% to $619 million since Tuesday as the popular SushiSwap project successfully migrated from Uniswap to FTX’s decentralized exchange, Serum.
CoinDesk U Have you taken a cryptocurrency course at university? Are interested in learning about blockchain for your career? What have you heard about the institutions with the best teachers, research centers, student clubs and networking opportunities?
CoinDesk Live: Internet 2030 CoinDesk’s “Internet 2030” series will examine the future of the medium and what role blockchain and crypto will play in it with content and conversations on the future of the decentralized web.
The series, which features CoinDesk Live conversations on Sept. 15-16, coincides with the planned launch of the long-anticipated Filecoin mainnet, the native token for the InterPlanetary File System (IPFS) protocol. We’ll hear from Juan Benet and the Filecoin team about why peer-to-peer web storage infrastructure is critical to a free and decentralized future, and explore the array of use cases available.
Watch Day 1: Interplanetary: Filecoin Goes Live on Sept. 15 at 4 p.m. ET on YouTube, LinkedIn or Twitter. Read more here.
At stake
SPACs are back? Earlier this week MarketWatch announced 2020 as the year of the SPAC, citing 82 firms using this “backdoor” approach to public listing to raise more than $31 billion so far.
SPACs, special purpose acquisition companies, are used to conduct initial public offerings (IPO) and hold that capital in trust to later be put to work to acquire other companies, giving the acquiree listed status.
Diginex, which hopes to list on Nasdaq, will merge with publicly traded 8i Enterprises Acquisition Corp., a British Virgin Islands-based company, after a final shareholder vote later this month. If all goes as planned, Diginex should bypass many of the usual regulatory barriers associated with an IPO and list on Nasdaq around Sept. 23, said Diginex CEO Richard Byworth, a former investment banker.
While a number of factors, including pandemic-induced economic uncertainty and a growing awareness of the costs of traditional listings, have cut into the IPO market, crypto has its own reasons for finding alternatives.
While Diginex’s EQUOS.io is certainly not a “top-tier” exchange, going public is noticeable, DiCamillo said. The Nasdaq listing would raise its profile among investors and potential customers, said George Zarya, CEO of digital asset services firm Bequant.
How to Value Bitcoin: On-Chain Transactions In this 30-minute webinar of our four-part How to Value Bitcoin series, we look at on-chain transactions, a concept that sounds familiar but involves novelties and complexities that are critical to understanding how bitcoin works.
On Sept. 15 at 10:30 a.m. ET, Glassnode CTO Rafael Schultze-Kraft and CoinDesk Research will walk through the structure of a Bitcoin transaction and how transaction data determines velocity, transaction count and value transferred. Register to join How to Value Bitcoin: On-Chain Transactions.
Market intel
Struggles Bitcoin is struggling to gather upside traction despite repeated defense of support at $10,000. The top cryptocurrency's sell-off from the August high of $12,476 looks to have come to a halt near $10,000 over the past seven days. "If $10,000 is breached, the cryptocurrency could drop to $8,100," crypto trader and analyst Josh Olszewicz tweeted earlier this week. So far, however, bitcoin's rebound has been capped around $10,500.
First Mover First Mover starts your day with the most up-to-date sentiment around crypto markets, which of course never close, putting in context every wild swing in bitcoin and more. They follow the money so you don’t have to. You can subscribe here.
CoinDesk 20 Update: OXT In, BAT Out The CoinDesk 20 has made its first change since launching in July: Orchid (OXT), issued by Orchid Labs Inc., developer of virtual private network (VPN) software designed to be decentralized and open source, has replaced the basic attention token (BAT) issued by Brave Software Inc., developer of the Brave browser.
Mixnets Nym, a privacy-centric startup, will pay people in bitcoin for running its nodes. The software project’s mixnet, used to obscure metadata tracking, will now support bitcoin transactions and enable plugins for wallets and applications. One way Nym will compensate node operators is through L-BTC on the Liquid sidechain using the Blockstream Green wallet. It is also launching a reputation system, NYMPH, that lets participants keep track of which mixnodes are online and mixing data packs, even across multiple chains, CoinDesk privacy report Ben Powers said.
Op-eds
Learning from Graeber Shiv Malik, author, co-founder of Intergenerational Foundation and Head of Growth at Streamr, thinks DeFi proves we have learned nothing from the ICO-mania of years past. Looking at crypto markets through the lens of recently-deceased anthropologist David Graeber’s theory of debt, Malik says, “Trying to make money out of nothing by believing other people will fall for the trick is, in the end, still trying to make money out of nothing.”
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