Conflux Network Weekly Update | Dec 11-17
📣 China’s ever evolving blockchain landscape; Migrating Ethereum native assets to cross-chain Conflux assets; Discord AMA Year in Review
Latest From Conflux Network
China’s Ever Evolving Blockchain Landscape
China’s blockchain research and implementation over the past few years has made it clear that they’re not playing catch up with the Western world, but rather exploring thoughtful, measured ways to deploy a new sort of digital infrastructure for their economy. The main use-cases for blockchain technology will seek to accomplish three things: encourage data sharing, make businesses more efficient, and establish better credit systems in various sectors. We have actually seen this in effect with provincial governments endorsing blockchain projects like Conflux Network with the ultimate goal of working together to launch projects that enhance administrative and societal processes.
What is the Kepler Protocol?
What was once considered a disadvantage of connectivity between Layer 1 and Layer 2 assets now becomes a strength using the interoperability of DeFi money legos. The process behind Kepler is based on users migrating Ethereum native assets to cross-chain Conflux assets. Now, beyond traditional cross-chain asset wrapping with cToken, traders can generate mTokens which will gain additional interest by being invested in asset management platforms on the origin chain. The mToken standard can be used just as freely as the cToken, whether it is moving between platforms, trading, or becoming an LP in MoonSwap’s liquidity mining pool.
ERC-20 assets will be invested in Ethereum-based asset management protocols. The rewards gained will be returned to the MoonSwap ecosystem in the form of mToken and distributed to the traders who minted the mToken. mTokens can be exchanged back to cToken at any time, and the whole process will be fully executed by smart contracts without any third-party involvement. The mToken standard is currently in development and set for an audit before launch.
If you are an Ethereum protocol interested in joining the next-generation of cross-chain assets with Kepler Protocol or exploring cross-chain experimentation deployments please email us at grants@conflux-network.org to learn more about our new grants program that allocates up to $50,000 to DeFi projects bootstrapping experimentation on Conflux Network.
Conflux Ecosystem Progress
What DApps are coming to Conflux Network? Our ecosystem progress report highlights the latest projects and initiatives to be launched on our chain!
Here are a few of the projects launching:
Conflux BPM — An open-source and easy-to-use blockchain BPM system
Con-dShop — A decentralized e-commerce based on Conflux public blockchain
Dragon Master — New webgame with NFT assets customized and developed for Conflux
Community & Events
💬 Discord AMA | Year in Review
🗓 Friday, December 18th
🕗 8:30 am EST / 1:30 pm GMT
Join our Research Engineer, Aaron Lu, and our Marketing Manager, Camilla Caban, for a year in review AMA in our Discord server. Our team will recap on some of our big achievements in 2020 and we’ll also take a look at the exciting things we are working on in 2021. If you are interested in blockchain gaming and the future of DeFi you'll definitely want to join the AMA!After our recap, we’ll be hosting a live Q&A. Have questions for the Conflux team? Drop your questions in ahead of the AMA in our #conflux-AMA server channel.
💰 5 lucky community members will win 40 $CFX each for the best engaged questions!
Community Ambassadors Program
If you are an active blockchain community member and love Conflux Network, we encourage you to sign up for our Community Ambassadors Program! We welcome all applicants regardless of your location! You will be responsible for organizing local meetups and sharing the word about Conflux in your community.
Industry News
Crypto Exchange Coinbase Files For IPO
The major cryptocurrency platform Coinbase confidentially filed IPO paperwork to the Securities and Exchange Commission, the company announced Thursday, officially setting off the process to go public in the future. Source
Tokenized Asset Market Surpasses $20 Billion
A new research report sheds light on the growth of the tokenization of real-world assets and estimates that the size of the market, as of Q4 of 2020 has surpassed $20 billion, and is dominated by tokenized currencies, also known as stablecoins.
According to data sourced from Bitstamp, the market cap of stablecoins grew 40% between March and August of this year. The explosive growth is thanks to its role as an off and on-ramp for investors moving cash from fiat into crypto, and also hedging against the volatility of the broader crypto market. Source
Digi-Physical Artist Sells $3.5M in NFTs Over 72 Hours
Blockchain-backed digital art is continuing to make waves and this week an artist who calls himself ‘Beeple’ raised $3.5 million during his latest non-fungible token (NFT) art collection auction. The “Everydays” collection auction included 21 original single edition Beeple pieces, a 100 piece series, and three open edition variations sold in five-minutes. Source
Closing of the CeFi to DeFi Chasm
The early CeFi majority is already in DeFi markets and the opportunity associated with the closing of the ‘CeFi to DeFi’ chasm will be the top growth area for blockchain powered financial services heading into 2021 and beyond. Once the chasm is fully bridged (thereby unlocking the inflow of institutional grade liquidity into crypto), traditional capital markets will be able to harness the power of programmatic capital, currently a $100 billion+ opportunity. Source