Conflux Network Weekly Update | Oct 9-15th
Introducing Open DeFi, Conflux Partners With Fetch.ai; Unleashing Communities in NFTs; Announcing Our First Hackathon
Powering Decentralized Commerce Through A Scalable Trust Layer for a New World of Dapps, Web 3.0, and Finance
Latest From Our Blog
Introducing Open DeFi
We’re excited to be leading the Open DeFi global initiative bringing together global CeFi and DeFi partners to drive the future of finance. Members include Sequoia Capital, Blockpower Capital, Antelope Holdings, dForce, DeBank, MCDEX and Shanghai Science and Technology Committee.
Open DeFi seeks to develop the decentralized financial ecosystem and advance the collaboration of DeFi projects across borders and blockchain networks through a unique program focused on risk management, new liquidity strategies, and innovation. Read more here.
Conflux Network Partners with Fetch.ai
We are excited to announce that Conflux Network has partnered with Fetch.ai. Fetch.ai is a Cambridge-based artificial intelligence lab building an open-access decentralized machine learning network for smart infrastructure. The partnership paves the way for the adoption of AI and cross-chain interoperability among blockchain-based systems with Conflux, the only permissionless blockchain project in China. Read the full announcement here.
Unleashing Communities With NFTs
As an emerging asset class that represents intellectual property rights to digital assets, NFTs are not just challenging traditional intellectual property-based business models, but enabling new bottom-up business models for long-tail digital assets. We are just at the beginning of understanding how they can be used to unleash communities, and in this post, we explore some of the ways communities are using them as a new decentralized commerce lego. Read more here.
Community & Events
Announcing Our First Hackathon: Hacking Decentralized Commerce
Over $10K worth of prizes for the winners!
Conflux Network is excited to launch our first virtual hackathon Hacking Decentralized Commerce in collaboration with Gitcoin! Conflux Network is developing the technology to build the future of commerce which is more collaborative, equitable, and decentralized! The hackathon starts right after our mainnet launch to propel the DApp ecosystem. Come build on a faster, safer PoW blockchain network that is Solidity compatible and has new mechanisms like built-in staking and transaction sponsorship!
There are two main tracks to participate in this hackathon. The first track focuses on building new DApps and products for DeFi, NFTs, payments, marketplaces, and core infrastructure. The second track is co-sponsored by our partners Aave and Chainlink for the integration of the Conflux Network with partner technologies.
Conflux 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
How has western DeFi hype translated in China?
New Chinese DeFi protocols are taking on a critical role in the DeFi boom with highly localized and nimble adaptations of western projects as well as a marketing apparatus that is laser-focused on Chinese crypto communities.
“Even though Asia was initially behind in the first wave of the DeFi from the U.S., I think developers in China will lead DeFi the way they have led CeFi” - Sharlyn Wu, CIO Huobi DeFi Labs
Exploring the latest trend in NFTs: Social tokens
Social tokens can be used for almost unlimited purposes, and the market is in the early stages of the tokenizing human-capital revolution. As the ecosystem continues to be built, social token use cases will expand dramatically; currently ranging from subscriptions, incubation, and authority. Source
New WEF study reveals issues facing blockchain standards
A recent study by the World Economic Forum suggests that the blockchain industry still lacks the standards that may formally define the suitability of blockchain technology for specific processes. Setting global standards for the same may help more players assess the potential of the technology for their business and possible risks associated with it. Source
DeFi must be distributed across blockchains
DeFi scaling has been a hot crypto topic in recent weeks, with layer-two solutions recently coming onto the scene as potential a scaling option. Kosala Hemachandra, founder and CEO of crypto wallet solution MyEtherWallet believes that in order for DeFi to truly succeed, applications need to be live on several chains rather than living exclusively on one. Source
NFT artwork sells for a record $131,000
Bitcoin themed artwork named “Block 21” by artist Robert Alice, along with its associated non-fungible token (NFT), was sold at Christie's auction house for a total of $131,250, setting a record-high for an NFT-tied piece of art. Many in the NFT community are excited by the prospect that NFTs such as these are getting more exposure to the traditional art market. Source