Conflux Network Weekly Update | Nov 27- Dec 3
📣 Governance is live on Conflux, Kick-starting your protocol's deployment in China, Hacking Decentralized Winners announced.
Latest From Conflux Network
Conflux Economic Model — Ecosystem Development Incentives and Governance
In this article, we introduce the ecosystem development incentives and governance model. The issued tokens exist in two forms: liquid and illiquid. In the liquid form, they can be immediately transferred/used on Conflux Network. There are three ways in which tokens can be locked up — making them illiquid. Illiquid tokens cannot be transferred! Locking can take three different forms:
Tokens can be staked to earn interest (staking)
They can be utilized as collateral for storage space on the network (e.g., for running dApps)
Tokens can be locked up for a predetermined amount of time in exchange for voting rights in the network governance
Here is how you can VOTE 👇
➡️ FC governance voting website: https://stampers.app/#/FansCoin
➡️ CFX governance voting website: https://governance.confluxnetwork.org
➡️ Full DAO ecosystem instructions: https://forum.conflux.fun/t/topic/4247
Kick-Starting Your Protocol’s Deployment in China
Our mission at Conflux Network is to enable global decentralized commerce by facilitating the free movement of goods, ideas, and services across borders, cultures, and blockchains. By focusing on powering borderless opportunity Conflux believes in building bridges between communities not walls.
Expanding into a new market is not a one size fits all solution for every protocol. Instead protocols and DApps should take an iterative approach to deploying their protocol on new chains. To support protocols in exploring deployment on new chains, Conflux Network is deploying grants of up to $50,000 USD to DeFi and NFT projects to help bootstrap experimentation on Conflux and community growth in China.
Hacking Decentralized Commerce Winners Announced
The first Conflux Network hackathon is complete! Over three weeks, Hacking Decentralized Commerce brought in a diverse range of applications and ideas ranging from cross-chain tokens to governance.
Thank you to all the participants and developers who spent time building and supporting the community to make this event possible. Many thanks to our partners - Aave, Chainlink, Gitcoin - and our judges: Fan Long, Eden Dhaliwal, Stani Kulechov, David Truong, Adelyn Zhou, and Patrick Collins.
Community & Events
We are hiring!
Interested in or know someone interested in working in the blockchain space The Conflux global team is currently hiring for 4 positions! If you believe you or someone you know would be a good fit for these roles we encourage you to apply. Please send your resumes to: careers@conflux-chain.org
- Product Marketing Strategist
The Future of Web3 Meetup
Thank you to everyone who joined us alongside with Gitcoin, The Graph, and Chainlink as we looked at the future of Web3 from a developer's perspective. After our panel discussion and audience Q/A, we looked into the winners and of our Hacking Decentralized Commerce hackathon winners and showcased their winning projects! For those who missed it, you can catch the full recording on YouTube.
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
NFTs: A Revolution for Digital Capitalists
When most people think about non-fungible tokens (NFTs)—cryptocurrency tokens that are provably unique—they conjure up images of virtual trading cards and digital art marketplaces. But it turns out that there’s a lot more to the frothy financial asset than that.
“The ability to use creative works as collateral or derivatives will open up an entirely new financial market that could have tremendous network effects.” - Eden Dhaliwal, Global Managing Director at Conflux Network. Source
S&P Dow Jones to launch crypto indexes in 2021
S&P Dow Jones Indices, a division of financial data provider S&P Global Inc, said on Thursday that it will launch cryptocurrency indices in 2021, making it the latest major finance company to enter the nascent asset class. Source
DeFi lending continues to grow
Based on the rapid growth of the DeFi ecosystem in 2020, several variants and iterations of DeFi protocols are finding their product-market fit. With the total amount of decentralized originated loans by dYdX, Compound and Aave worth almost $30 billion year-to-date, DeFi lending is set to further gain in relevance and scale — thereby living up to the promises of permissionless finance. Source
First-ever government-backed use of stablecoins for foreign aid
Circle, the founding company behind the successful USDC stablecoin, partners with the Bolivarian Republic of Venezuela and Airtm to deliver aid to Venezuelans using USDC. Seeking to get financial aid into the hands of the Venezuelans fighting COVID-19, governments turned to blockchain and fintech innovation to deliver. Source
Gas Costs: Fueling the Blockchain Engine
Taking a deep dive into blockchain gas costs – what they are, what they tell us about the current crypto and DeFi ecosystem, and how they evidence a growing need for scalability and transaction throughput in a world of congested networks. Source