Hello Defiers! Here’s what we are covering today!
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Pool Delegate M11 Credit Cites FTX Exposure
Auros, a crypto trading firm which claims on its LinkedIn profile to account for a “significant proportion of global cryptocurrency volume,” has missed a loan payment of 2,400 wrapped Ether (wETH), worth $3.1M as of Nov. 30. The news comes via M11 Credit, the counterparty which made the loan.
Ropsten Testnet to be Decommissioned This Month
Ropsten, the first public testnet to support Ethereum’s transition to a Proof of Stake system, will be shut down this month, the Ethereum Foundation announced Tuesday. The Merge went live on Ropsten in June in an important step forward for the most important upgrade in Ethereum’s history. Ropsten’s remaining validator nodes will stop supporting the network between Dec. 15 and Dec. 30.
The Fabricant defies bear market with the launch of Wholeland: The ultimate Web3 fashion experience
The Fabricant has gone live with its boundary-pushing digital fashion storytelling project Wholeland, with a trailer that sets the scene for a provocative world that splices digital couture, mythology and the rave scene.
The OG digital fashion player is famous for its world-leading craftsmanship, gaining global prominence when it was founded as the world’s first digital fashion house in 2018. It sold the first ever digital garment on blockchain for 54 ETH in 2019.
Wholeland is described as a digital fashion story and visually rich journey of self-discovery that unfolds across 7 chapters. Each chapter includes digital couture, AR wearables, co-creation, fashion shows, metaverse meet-ups and airdrops.
Access to Wholeland can only be gained through minting one of The Fabricant’s pieces of AR facewear, called XXories, that act as a key to the wider experience.
Anyone can apply to Join the waitlist to mint an XXorie through The Fabricant website.
FTX Crisis, SBF Speaks
‘I Have a Duty to Talk to People,’ Disgraced Founder Says Despite Threat of Self-Incrimination
The swift collapse of FTX was a “massive failure of oversight, of risk management,” disgraced founder Sam Bankman-Fried said in a live interview Wednesday evening. The hour-long virtual interrogation, which capped off the New York Times’ annual Dealbook Summit in New York City, was Bankman-Fried’s first live appearance since a run on customer deposits forced FTX to halt withdrawals and eventually file for bankruptcy.
A Step-by-Step Guide to the Transaction Verification Tool
Thanks to their distributed structure, blockchains tend to be slow. If a single transaction has to be verified across thousands of Ethereum’s nodes, this also makes the network expensive to use. Layer 2 systems are a potential answer to this issue, with rollups as the most popular scaling method. Zero-knowledge (ZK) rollups use the minimum data necessary to verify transactions by unburdening Ethereum from excess network workload. This makes Ethereum both faster and cheaper.