Future Finance - Issue #115: Here Comes London, Uniswap Gets Optimistic And Even Banks Want To Stake Eth

Welcome to another issue of Future Finance, your weekly off-chain newsletter about the world of on-ch

Future Finance - Issue #115: Here Comes London, Uniswap Gets Optimistic And Even Banks Want To Stake Eth By Alan Tsen • Issue #115 • View online Welcome to another issue of Future Finance, your weekly off-chain newsletter about the world of on-chain finance. And always, there's no shortage of news from the industry. So grab a coffee (or beer), and let's get into this week's news from the world of open and decentralised finance. 👉 Got some interesting news I should include in my newsletter? Feel free to respond to this email or hit me up on Twitter - my DMs are always open. — Alan Tsen 👊💯 Ps. If you like what I'm doing here, please feel free to share it on your favourite social media network. Also, it'd be great if you forwarded this newsletter to a friend you think might enjoy it.

But before we get into this week's news, let's kick things off with a hilarious diddy about the world of Eth. Enjoy 🎹

Ben Jones @ben_chain Ethereum is my love and life but I couldn't resist poking some satirical fun today. If ETH was a Disney musical villain: https://t.co/zW0jE1BMZq 9:05 AM - 12 Jul 2021

📰 News This Week

London Mainnet Announcement After a successful testnet deployment, the London upgrade is now ready to be activated on the Ethereum mainnet. It will go live on block 12 965 000, which is expected between August 3-5, 2021. blog.ethereum.org  •  Share

Uniswap on Optimism (Alpha launch)! Uniswap V3, the third iteration of the Uniswap protocol, has been deployed to the Optimism mainnet! uniswap.org  •  Share

Ethereum-Based Money Streaming Protocol Superfluid Raises $9 Million In Seed Funding Superfluid Finance, an Ethereum-based money streaming protocol, has raised $9 million in a seed funding round. www.theblockcrypto.com  •  Share

The DeFi Future is Automated Gelato has been tinkering with use cases since 2019 and launched its production-ready V1 last July. Meanwhile, Keep3r network has been executing its own solution since late October 2020. And just last month Chainlink announced an Open Beta for Chainlink Keepers in the field of smart contract automation. thedefiant.io  •  Share

Jerome Powell: I'm 'Undecided' on the Benefits of CBDCs Federal Reserve Chair Jerome Powell tells the U.S. Senate that "the more direct route" would be to regulate stablecoins. www.coindesk.com  •  Share

Jack Dorsey Says Square Has A New Bitcoin Business Named TBD Square CEO Jack Dorsey revealed a new business unit in the company. It's focused on Bitcoin, with the goal of "making it easy to create non-custodial, permissionless, and decentralized financial services." www.theverge.com  •  Share

Binance.US CEO Brian Brooks Weighs in on Recent Global Regulatory Warnings, Sen. Pat Toomey on US Crypto Regulations Outlook Binance.US CEO Brian Brooks joins "First Mover" since the firm hired former California regulator Manuel Alvarez as its new Chief Administrative Officer. This comes as global regulators are zooming into Binance. Senator Pat Toomey has more on congressional regulatory outlook on crypto in the U.S., and Haohan Xu of Apifiny on crypto markets outlook. www.coindesk.com  •  Share

DeFi wallet Phantom Raises $9 million In Series A Funding Led By A16z DeFi wallet Phantom, which currently supports the Solana blockchain, has raised $9 million in Series A funding led by A16z. www.theblockcrypto.com  •  Share

Swiss Bank Sygnum Becomes First Bank to Offer ETH 2.0 Staking Sygnum bank has announced that it will become the first bank to offer Ethereum 2.0 staking to clients finance.yahoo.com  •  Share

UFC And Crypto.com Announce Partnership Crypto.com Becomes First-Ever Global Official Fight Kit Partner & First Cryptocurrency Platform Of UFC www.ufc.com  •  Share

🎧 Podcasts Of The Week

Unconfirmed: How Axie Infinity Boosted Revenue 400%+ in 30 Days Aleksander Larsen, co-founder and COO of Axie Infinity, discusses Axie Infinity's recent growth, which has seen the platform do 20X the volume of NBA Top Shot in recent days. pca.st  •  Share

ETH Staking Panel With Coinbase, Lido, Rocket Pool ETH Staking Panelists: Darren Langley (Rocket Pool) Vasiliy Shapovalov (Lido) Ejaaz Ahamadeen (Coinbase) With Ethereum's switch to Proof-of-Stake around the corner, a full spectrum of staking options has emerged. Many who want to participate will not… pca.st  •  Share

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By Alan Tsen Future Finance is a curated newsletter sent to your inbox every week. We cover all the most important news in the world of decentralised finance. It takes 10 minutes to read and provides you with all the essential news. Tweet     Share

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Axie Infinity's AXS grew 131x this year / JC Flowers & Co acquired 30% stake in LMAX / Fresh Funding

Plus: ADA is reported to be the most staked crypto with $2.97B staking.

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The global crypto market cap is $1.30T 4.47%▼ with a 24-hour market volume of $65.43B 1.05%▼. Bitcoin's dominance is currently 45.49% 0.23%▼. CURRENT PRICES BY MARKET CAP # Name Price 24h % 1 Bitcoin BTC $31,432.34 4.12% ▼ 2 Ethereum ETH $1,910.27 4.06% ▼ 3 Binance Coin BNB $312.88 1.60% ▲ 4 Cardano ADA $1.22 4.00% ▼ 5 XRP XRP $0.5972 3.21% ▼ *Prices as of 3:00 p.m. ET.

Axie Infinity’s AXS jumped 32% in the past 24 hours and has grown 131x since the start of the year. The three-year-old NFT-gaming platform has surged in popularity since it integrated its Ronin-based marketplace. More: Axie Infinity is a collecting and battling type game similar to Pokémon. The Ronin sidechain provides a significant reduction in gas fees and quicker transactions for the Ethereum-based platform. Other NFT-gaming tokens like Enjin (ENJ) and Decentraland (MANA) have experienced a similar surge in price.

JC Flowers & Co. acquired a 30% stake in cryptocurrency and forex exchange platform LMAX Group. If the deal receives regulatory approval, it would value LMAX at $1B. More: LMAX was founded in 2010 as a forex market but added crypto functionality with its launch of LMAX digital in 2018. The company was previously valued at around $138M at the launch of LMAX digital. LMAX reported $36B in transaction volume last month, making it one of the world's largest forex and crypto exchanges.

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▲ TOP GAINERS # Name Price 24h % 1 BakeryToken BAKE $2.20 15.48% ▲ 2 Kusama KSM $204.57 8.10% ▲ 3 Chiliz CHZ $0.2596 6.94% ▲ 4 Flow FLOW $18.84 6.40% ▲ 5 Stacks STX $1.28 5.06%▲ ▼  TOP LOSERS  # Name Price 24h % 1 Telecoin TEL $0.01336 14.85%▼ 2 KuCoin Token KCS $10.71 10.19%▼ 3 FTX Token FTT $26.02 9.56%▼ 4 Synthetix SNX $9.56 9.02%▼ 5 Harmony ONE $0.007334 8.77%▼ *Limited to cryptocurrencies in the Top 100. Prices as of 3:00 p.m. ET.

🍋Fresh Funding🍋 Axelar, DeFi/Interoperability: $25M ⮕ The Series A funding round was led by Polychain Capital with participation from Dragonfly Capital, Galaxy Digital, North Island Ventures, Robot Ventures, SCB 10X, and others. More: Axelar is a DeFi interoperability protocol that lets developers create cross-chain dApps. The fresh funding will be used to grow the Axelar team and further support for additional blockchain integrations. Axelar has received $28.7M in funding to date. The team previously raised $3.7M from a seed funding round last November.

🍋Fresh Funding🍋 Revolut, Neobank: $800M ⮕ The funding round was co-led by Softbank Vision Fund 2 and Tiger Global Management. More: Revolut is a payment account, crypto trading, and stock investment platform with over 15 million customers. The latest funding round brings the startup’s total valuation to around $33B. Revolut increased its crypto functionality back in May when it enabled withdrawal functionality to its crypto exchange services.

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QUICK HITS Bad bosses are bad for business! Understand what makes a great boss and how to keep your top talent.* Crypto derivatives platform Bybit announced the addition of spot trading services. Cardano (ADA) is the most staked cryptocurrency, with around $2.97B ADA staking. In comparison, runner-up Ethereum 2.0 (ETH2) has $12.3B currently staking. WisdomTree’s bitcoin ETF application became the latest bitcoin ETF to receive a delayed decision from the SEC. The DOJ and DHS released a new ransomware task force that will reward information about cybercrimes with crypto payments. The UK’s Financial Conduct Authority announced a $15.2M digital marketing campaign to warn its citizens about the risks of cryptocurrencies. Fireblocks integrated Polygon into its cybersecurity and asset management offerings. As third-party cookies go away, the most valuable component to your work will be building trust with customers. Launch a first-party data strategy.*   * Sponsored Content

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Griffin McShane is a J.D. candidate currently living in Portland, Maine. He is a graduate of Providence College, where he studied both computer science and business. Griffin aspires one day to go to the moon and bring some of his altcoins along for the ride. Editor Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 Ford.

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