Every week we comb through hundreds of Blockfolio Signals to bring you the most significant team updates with brief analyses to help you understand the latest developments in blockchain.
But first, in macro crypto news this week:
- FTX Acquires Blockfolio in Bid to Expand Retail Footprint �
- ConsenSys Acquires JPMorgan’s Quorum Enterprise Blockchain Solution
- Total Value Locked in DeFi Surpasses $7 billion
- Tyler Winklevoss Makes Case for Bitcoin at $500,000
- Fidelity Analyzes Model That Forecasts Bitcoin Rise to $1,000,000
- SEC’s New “Accredited Investor” Rules Will Make ICOs More Accessible
- Closure of Darknet Empire Market Believed to be $30M Exit Scam
- Polkadot Soars to #6 by Market Cap after DOT Redenomination �
Top Blockfolio Signals of the past week:
- Fidelity President Files For New Bitcoin Fund
- SAP Demos Ethereum Integration to Connect Buyers and Sellers
- EMURGO Expands Cardano Adoption to Major Retail Brands
- Aave Granted an Electronic Money Institution License in the U.K.
- Tezos Releases Decentralized Price Oracle
- Ontology Launches Blockchain Identity Solution for the Auto Industry
- Aragon Introduces aragonOS 5 Update: Disputable Apps
- 0x Releases New RFQ Trading System to Improve Liquidity
- ICONLOOP Announces a Partnership with Shinhan Bank
- Band Protocol Partners with Nervos Network and Lists on Binance US
Fidelity President Files For New Bitcoin Fund
“Fidelity’s president and head of strategy and planning today filed paperwork with the U.S. Securities and Exchange Commission informing the regulator of a new fund dedicated exclusively to bitcoin.”
— Jason Hamlin, Blockfolio Ecosystem Insights
- Fidelity president and director of digital funds Peter Jubber today filed paperwork with the U.S. Securities and Exchange Commission (SEC) informing the regulator of a new fund dedicated to bitcoin.
- Fidelity recently published the results of a survey of 800 institutional investors from the U.S. and Europe, finding that 36% of respondents were already invested in digital assets, while 60% said digital assets had a place in their portfolio.
- This comes as the “Bitcoin Rich List” of addresses holding more than 1,000 BTC hits an all-time high.
Fidelity is clearly targeting institutional and wealthy investors with the new fund. They manage $8.3 trillion in customer funds, which gives an idea of the impact the fund could have. It is likely to generate new demand and demonstrates growing interest in Bitcoin from institutional investors. This is confirmed by the number of addresses holding more than 1,000 BTC hitting a new high in the past week.
Price at the time of Blockfolio Signal: $11,383. View BTC on Blockfolio.
SAP Demos Ethereum Integration to Connect Buyers and Sellers
- In a SAP Blogpost, Kevin Small gives SAP users a crash course in blockchain and Ethereum. From a company perspective, he discusses the advantages and disadvantages of the Ethereum Mainnet and shows an example of how Smart Contracts can be integrated into the SAP system.
- While noting use-cases for permissioned blockchains, the author notes the potential long term downside of permissioned chains is that logic and data end up in multiple, partially overlapping silos.
- Using SAP with Ethereum, the post walks through using a smart contract on Ethereum that matches buyers and sellers of raw materials. It notes that no central party needs to be in control of the process, and no central party needs to have the power to shut the smart contract down.
- In other Ethereum news, buggy code knocked 13% of Ethereum nodes offline, highlighting the weakness of client centralization.
This could be a major gateway to the adoption of Ethereum and other blockchain protocols. SAP is one of the largest providers of enterprise software to businesses globally and has a market cap of over $200 billion. But Ethereum continues to face scaling issues and high fees, so the move toward ETH2.0 can not come soon enough.
Price at the time of Blockfolio Signal: $391. View ETH on Blockfolio.
EMURGO Expands Cardano ADA Adoption to Major Retail Brands Through Bidali Partnership
EMURGO Expands Cardano ADA Adoption to Major Retail Brands Through a Partnership with Bidali.
The partnership enables ADA holders to directly purchase items from over 1,200 major retail brands via Bidali’s online gift card platform.”
— Keisha DePaz, Business Development
- EMURGO, a global blockchain solutions provider & a founding entity of Cardano, announced a strategic partnership with Bidali — a Canadian payment processor that offers digital currency payment solutions.
- The partnership enables ADA holders to directly purchase items from more than 1,200 major retail brands, such as Amazon, Nike, Starbucks, Airbnb, and many more via Bidali’s online gift card platform.
- EMURGO has also entered into a strategic partnership agreement with Blackbird Ventures to establish Brandmark — a new joint venture and blockchain solution to provide real-world, blockchain solutions for large scale, multinational organizations’ supply chain needs.
- IOHK also just released a new version of the Daedalus wallet for Cardano that significantly improves both blockchain synchronization speed and connection time.
- It was also announced that developers may now build and run Oracle Pools on the Ergo blockchain with the joint release of smart contracts & off-chain “Oracle Core.”
These two partnerships increase the real-world utility of Cardano and give ADA holders the option to purchase products from a wide spectrum of some of the world’s most well-known brands. The Brandmark joint venture further strengthens EMURGO as a key solutions provider and the Oracle Core release allows developers to build and run Oracle Pools.
Price at the time of Blockfolio Signal: $0.11. View ADA on Blockfolio.
Aave Granted an Electronic Money Institution License in the U.K.
“Aave’s UK entity responsible for integrations and support, Aave Limited, is now licensed as an authorised electronic money institution. After a lengthy application process, the authorisation was granted in July by the Financial Conduct Authority (FCA).”
— Isabel Kivlighan, Digital Marketing Manager
- Non-custodial lending and borrowing protocol Aave’s U.K. business entity has been issued an Electronic Money Institution (EMI) license. This EMI license allows Aave to facilitate payments and currency conversions, as well as issue electronic money accounts for consumers and businesses.
- This authorization is part of Aave’s vision to bring the DeFi and Fintech spaces closer together by providing access to DeFi directly from electronic money accounts, opening up DeFi services to a wider user base.
- The service will allow users to go from Fiat to stablecoins and other assets natively in the Aave Ecosystem and then use these assets in the Aave Protocol. Aave will pilot in the U.K., before rolling out to cover the whole EEA and expanding globally.
- This comes with news that Aave holds $1.44 billion in assets, slightly edging out Maker to become the #1 DeFi protocol in terms of total assets.
This is a big move and the first by a DeFi protocol, which will help in moving toward mainstream adoption. They will be able to onboard users into DeFi with a direct fiat on-ramp into the Aave protocol. Banks might not like it, but this is good for everyone else, providing better rates and cutting out rent-seeking middlemen.
Price at the time of Blockfolio Signal: $0.83. View LEND on Blockfolio.
Tezos Releases Decentralized Price Oracle ‘Harbinger’
“Harbinger, a decentralized Price Oracle project on Tezos has been released today. Harbinger allows anyone to participate in Oracle updates by using signed price feeds from trusted sources. This provides a crucial component for DeFi infrastructure on Tezos.”
— Chris Ghent, Head of Communications, TQ
- Harbinger is a project to deliver signed price feeds based on market data from multiple exchanges to the Tezos network. Harbinger was inspired by Compound’s Open Price Feed, but adds some additional features.
- It is a set of tools and reference contracts that allows anyone to become a poster. As a poster, they can deploy a price oracle on the Tezos network that will publish cryptographically signed prices.
- In Harbinger, an account that pays for fees to update the price oracle can be delegated and pre-funded with tez. This enables the development of self-sustaining price oracles, where the rewards for participating in proof of stake consensus offset the fees required to keep the oracle data current.
Having a reliable feed for on-chain price data is critical for DeFi lending platforms. Harbinger is an important building block for the decentralized finance ecosystem on Tezos and suggests DeFi apps for Tezos are on the way.
Price at the time of Blockfolio Signal: $3.39. View XTZ on Blockfolio.
Ontology Launches Blockchain-Based Identity Solution for the Auto Industry
“Drive with Ontology’s new blockchain-based decentralized identity for the automotive industry! It allows driving data to be recorded, stored & verified in a safe & secure way, offering a range of benefits to drivers & the wider automotive industry.”
— Christina Liu, Overseas Community Manager
- Ontology has developed a blockchain-based decentralized digital identity solution that allows for driving data to be recorded, stored, and verified in a safe and secure way, offering a range of benefits to drivers and the wider automotive industry.
- The solution includes a built-in ONTO self-sovereign data wallet, a one-stop mobile application for the management of digital identity, data, and assets, with the ability to pay for a wide variety of services.
- There is also an Ontology-powered marketplace where users can earn ONT by renting their car to other verified, safe drivers.
- Ontology also announced this week that they are building a parachain on Polkadot for DeFi services and will make a bid in the Polkadot parachain slots auction.
The automotive industry still relies on antiquated systems and is ripe for disruption by technologies that make things safer, easier, and more convenient. Ontology is taking a major step in reaching this vision. In addition, it is bullish to see they are building a DeFi solution on Polkadot, which is one of the fastest-growing protocols.
Price at the time of Blockfolio Signal: $0.89. View ONT on Blockfolio.
Aragon Introduces aragonOS 5 Update: Disputable Apps
“After two years, we’re delighted to announce aragonOS 5.
With it, comes a new flavor of Disputable apps that seamlessly integrate with Aragon Court and Agreements.
Get up to speed on Disputable apps.”
— Luis Cuende, Co-founder of Aragon Project
- Considerable effort has gone into Aragon Agreements for the push towards the Phoenix phase of the Aragon Network.
- Agreements are the mechanism that will enable organizations to define acceptable actions with a subjective set of rules, which would otherwise be impossible to encode into a smart contract.
- It will act as the bridge between an Aragon organization and Aragon Court, providing organizations with the substantial new capability to challenge members’ actions and raise them as disputes to Aragon Court.
- Agreements are a general framework to allow any Aragon app to become disputable. This introduces a new flavor of Aragon apps, connected to Aragon Court, whose actions can be subjectively governed by an arbitrator.
The is a major upgrade and new vision for how Aragon organizations will soon be able to opt into the security offered by Aragon’s emerging digital jurisdiction, Aragon Court.
Price at the time of Blockfolio Signal: $8.66. View ANT on Blockfolio.
0x Releases New RFQ Trading System to Bring Centralized Liquidity to DEXs
“We are excited to announce the release of our new RFQ (request-for-quote) trading system that enables market makers to bring centralized exchange liquidity directly to DEX and DeFi traders!”
— Matt Taylor, Marketing Lead
- The growth of DeFi has been possible because of the major improvements in DEX liquidity in 2020. DEXs today support small trades well, but struggle to provide competitive pricing for medium & large trades.
- 0x’s new Request for Quote (RFQ) system allows professional market makers to bring CEX liquidity directly to DEX users to support great pricing for medium and large trades.
- 0x has rebuilt almost its entire infrastructure and reworked the 0x smart contracts to make DEX liquidity aggregation a key part of the infrastructure.
- The new contracts allowed them to build out the 0x API which is a simple way for anyone to access aggregated liquidity from 0x, Uniswap, Kyber, Balancer, Curve, and more.
The RFQ system makes it easy, profitable, and low-risk to provide large amounts of liquidity to DEX traders. This results in better pricing, especially for medium & large size trades as market makers can bring all of the liquidity that is available on centralized exchanges and offer it to DEX markets.
Price at the time of Blockfolio Signal: $0.67. View ZRX on Blockfolio.
ICONLOOP Announces a Partnership with Shinhan Bank
“ICONLOOP, our ecosystem partner, today announced a partnership with Shinhan Bank, Korea’s second-largest commercial bank, to issue KYC compliance certificates through its mobile app Zzeung (MyID), which uses ICONLOOP’s blockchain-based decentralized identity (DID) technology.”
— Min Kim, Foundation Council Member
- Korea’s second-largest commercial bank to Implement ‘Zzeung’ (MyID) by ICONLOOP, to open new customer accounts remotely with full KYC.
- Once issued, the KYC compliance certificate can be used to open accounts with financial institutions and services, bypassing redundant KYC compliance processes.
- KYC compliance certificates powered by Zzeung will be applied to various non-face-to-face identity verification for Shinhan SOL mobile banking, including mobile OTP issuance, password change, and other customer verification needs.
This is big news for ICON given the size of Shinhan Bank. As the successfully demonstrate their MyID technology, it can lead to new deals with other banks, financial institutions, and enterprise-level organizations.
Price at the time of Blockfolio Signal: $0.62. View ICX on Blockfolio.
Band Protocol Partners with Nervos Network and Lists on Binance US
“China’s leading blockchain network, Nervos Network, strategically partners and integrates with Band Protocol to bring extensive data support and scalability for their rapidly growing DApp ecosystem through $BAND decentralized oracles.
To ensure the success of Nervos’ integration with Band Protocol, both engineering teams have clearly defined a working integration plan with key milestones across two phases to be showcased to the public in the upcoming weeks.”
— Kevin Lu, Head of Business Development & Growth
- Nervos, China’s leading public blockchain ecosystem, has chosen to integrate Band Protocol to bring scalable decentralized oracle technology to developers and their extensive partner network which includes China’s Blockchain Services Network and Grin.
- The major goal of this integration is to bring verified external data sources on-chain in a manner that is designed to match the Nervos design principles: security, decentralization, efficiency, and flexibility.
- This comes as BAND has announced a listing on the Binance US exchange.
By integrating Band Protocol, Nervos developers will no longer be limited by centralized oracles or data feeds. Nervos developers will be able to easily access price feeds, event information, and other data oracles — enabling them to build scalable and innovative dApps on the Nervos blockchain.
Price at the time of Blockfolio Signal: $11.31. View BAND on Blockfolio.
Quote of the Week:
“Powell’s speech, in plain English:
There is too much debt in the US & globally. It’s hurting growth. This can be resolved 1 of 2 ways:
1) Widespread defaults (including on sovereign debt)
2) Inflate it away
Today we are accelerating Option #2.”
— Luke Gromen
Thanks for joining us and we look forward to bringing you our top Blockfolio Signals again next week.
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Ecosystem Insights & Development @ Blockfolio
Blockfolio Signal is a first-of-its-kind communications platform built exclusively for token teams to connect and engage with their communities. Over 400 token team CEOs and team leaders actively use the platform to provide relevant project updates directly to Blockfolio’s 5 million+ users. Learn more at www.blockfolio.com/signal.
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