Conflux Network Weekly Update | Feb 12 - Feb 18
📣 Conflux Network's grants program update; Launching of the Token Captain program; Sponsoring the latest Open DeFi podcast
Latest From Conflux Network
6 Questions for Eden Dhaliwal of Conflux Network
“NFTs are here to stay because they can capture the hearts of mainstream users.”
Cointelegraph features Eden Dhaliwal, the Global Managing Director at Conflux Network for their latest edition of the Cointelegraph Magazine! “6 Questions” asks the builders in the blockchain and cryptocurrency sector for their thoughts on the industry…and throw in a few random zingers to keep them on their toes!
Ecosystem Grants Update
Through funding and support from the grants program, our goal is to support innovation and build an equitable and inclusive future, connecting economies and communities across the globe.
We have some amazing grant recipients already building on Conflux. These projects all have ambitious goals that will hopefully inspire you—check out their progress by clicking “Read More”!
📣 Have an amazing project idea? Apply for a Conflux grant! Over 2.4 Billion in CFX rewards available for DeFi, tools and infrastructure, blockchain gaming and NFT projects. Apply here. ⤵️
Become a Token Captain with ShuttleFlow
To support more cross-chain assets between Ethereum and Conflux, ShuttleFlow has launched the Token Captain initiative. Everyone can support any cross-chain tokens on Ethereum and Conflux by becoming a Token Captain, to reap the rewards of supporting their favorite token. However, there is only one Token Captain for each token, though new Token Captains can emerge to rule their favorite tokens. Find out how to become a Token Captain by clicking “Read More.”
Community & Events
Open DeFi Tech Talk with Decentology
Join our grant winners Decentology for a demo on Decentology and DAppStarter today at 7 pm EST. We will be hosting a live Q&A after the call to answer any of your questions on their new platform to create NFT and DeFi DApps.
Bak Up Podcast
Our DeFi analyst Sami Tannir joined the Bak Up Podcast to discuss Conflux Network, decentralized finance, and some more predictions for 2021. Watch the podcast above.
Synopsis 2021
Join Conflux Network on February 20th at Synopsis 2021 where we will give an overview of Conflux Network and our plans for the upcoming year!
The summit will last two days. More than 40 leading industry experts from around the world will speak at the conference. Synopsis 2021 brings everyone together in the digital space and offers a complete immersion in the world of decentralized finance and the crypto economy.
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.
📣 Launching Our New Podcast 📣
We are happy to sponsor the new Open DeFi podcast! Open DeFi is a global initiative to develop the decentralized financial ecosystem and advance the collaboration of DeFi projects across borders and blockchains. Each week we’ll discuss the evolving DeFi space from the perspective of some of the biggest projects in decentralized finance. Our first episode features Akin Sawyer, Operations Lead at BarnBridge. Listen to the podcast above. ⬆️
Industry News
What are flash loans and what do they bring to DeFi?
Flash lending allows DeFi users to get capital for any action as long as they return these tokens to the liquidity pool at the end of the transaction. While flash loans are infamously known for creating some of the major exploits in DeFi protocols in recent times, the tool has found use cases in other sectors to enable global commerce. Source
NFT market primed for explosive growth in 2021
NFT transactions tripled last year, according to a new report by NonFungible.com and L'Atelier. The total value of the NFT market is now $250 million. Virtual worlds are the most popular segment with 25% of the market, but art is quickly catching up and sales grew by 2,800% in 2020. Source
Is DeFi the answer to Southeast Asia’s financial woes?
The DeFi movement has been taking over headlines only since summer 2020 and still has a long way to go. Nevertheless, its potential for microlending and borrowing services is astounding. The same applies to remittances – this is another area that can potentially disrupt the financial transaction market in Southeast Asia. Source
Crypto art sales reach a record $80 million
Over $80 million in crypto art has been sold, with no end in sight to the boom. Popular artists include Beeple and Pak. Their artworks can fetch up to $777,000 each. The number of marketplaces is also growing, proving that the forms of digital art can soon expand into any form of media and not just JPEGs. Source
Can gas consumption in DeFi be solved?
Now that the value of DeFi has been discovered, people's trading activity has greatly increased, meaning the price of gas has risen. Every project party has the obligation to complete the business with the least read and write operations, saving valuable block space for the ecosystem. In addition, each project party is also obligated to find a cheap and safe L2 solution for users. Source