Connect with us

Hot Projects

Ethereum 2.0 Launch: Staking, Launch Date, and More. Here’s everything you need to know.

ethereum 2.0
rss

Ethereum 2.0 – what it is and why is it necessary?

Ethereum 2.0 is a major upgrade to the Ethereum Network that aims to improve the speed, efficiency, and scalability of the network. Ethereum is up for a major facelift with the new version release which will state to drastically improve its transaction volumes, alleviate congestion, and high gas costs. Upon reaching the final phase of the upgrade, dubbed as ‘Phase 2’ Ethereum will meet the goals of being a 100% transparent and open network for decentralized finance. 

Ethereum 2.0 will involve sharding to drastically augment the bandwidth and reduce gas cost making it cheaper to send Ethereum, tokens, and interact with smart contracts. The system will undergo fundamental economic changes also allowing support to stake nodes and earn Ethereum as passive income. Ethereum 2.0 is a unified effort of thousands of developers who have put in years of hard work.

The Ethereum 2.0 upgrade will be done in 3 distinct phases starting with Phase 0. After having faced criticism for the network’s high transaction costs and fragility during peak usage will Ethereum 2.0 stand up for the challenge? This we will come to know once the launch is successfully built and practiced. 

The next generation of Ethereum Blockchain will go live on December 1’st and will go from a Proof-Of-Work model to a Proof-Of-Stake model where participants can tie their crypto to the network as collateral. As per the announcement, for the launch to really happen, 16384 validators will have to stake a minimum of 32 Ether worth $12,800 at current market rates thereby underpinning the network. Once the threshold has been staked it will trigger the launch of Beacon Chain in the Ethereum 2.0 genesis event. 

What’s different about this time?

The most important change is that the consensus mechanism will transition from PoW to PoS which is touted to be more effective and energy-efficient in terms of network maintenance. Both PoW and PoS are designed to incentivize network maintenance ensuring that the blockchain data is tamper-proof. Hence in a PoW system, one unit of computational power equals one unit of mining power, and in PoS one unit of value secures one unit of mining power for the validator. 

In Proof of Stake validators stake crypto for the right to verify the transaction. The validators are selected to propose a block based on the amount of crypto they hold and the duration of how long they have held it. The main advantage of PoS is that it is far more energy-efficient than PoW as it disengages energy-intensive computer processing from the consensus algorithm. This also means that there is a lot of computing power to secure the blockchain.

The other big change is the introduction of network sharding which will happen at a later phase. Sharding implies that only a portion of the nodes has to validate any given transaction instead of all of them. This will directly increase the network’s throughput in a big way. 

The Process

ethereum 2.0 launch

The full roll-out of Ethereum 2.0 will take place in three phases: Phase 0, 1, and 2. Phase 0 as we know is aiming for a December 2020 launch date with other phases coming in the following years. Phase 0 is looking at the implementation of the Beacon chain that stores and manages the registry of validators and deploying the PoS consensus mechanism for Ethereum 2.0.

The original PoW chain will concurrently run alongside so that there is no break in data continuity. Phase 1 is due in 2021 and will see the integration of Proof Of Stake shard chains. 

Ethereum 2.0 will be arguably much better than its earlier version

One of the reasons calling for the upgrade has been scalability. Ethereum 1.0 can only support 30 TPS causing delays and congestions. Ethereum 2.0 promises up to 100,000 transactions per second through the implementation of shard chains. The new version has also been designed with security in mind. Most of the Proof of Stake networks have a small set of validators making it a more centralized system with poor network security.

Furthermore, Ethereum 2.0 requires a minimum of 16,384 validators making it ultra-secure. The Ethereum Foundation is also setting up a dedicated security team for Ethereum 2.0 which will research all the possible cybersecurity issues that plague the cryptocurrency sector. One of the top researchers for Ethereum 2.0, Justin Drake said that the research will also include “fuzzing, bounty hunting, pager duty, crypto-economic modeling, applied cryptanalysis, formal verification”. 

The co-founder of Ethereum Vitalik shared a roadmap of how the next few years things will pan out for Ethereum in the below-given tweet.

DeFiRev.com is #1 in DeFi News. Check back in soon to find out the latest in DeFi News.


Make sure to check out more DeFiRev articles and sign up for our exclusive newsletter + get access to VIP DeFi Networking here.


DeFiRev.com – HOME
DeFiRev.com – DeFi Market Watch

Facebooktwitterredditlinkedinmail
rss
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Hot Projects

Delta Token : DEX Gamechanger Launching Soon. Will it be a Uniswap Killer?

rss


Delta Token : Here’s what you need to know

Delta Token is the tokenized version of partially locked liquidity that will run on the soon to be launched, next-generation decentralized exchange called CoreDEX.

The new Delta token launched by Delta Financial (from the cvault.finance team) will play a significant role in changing the norms of DeFi and DEX’s in general.

The cvault. finance team makes their new entry to space with CoreDEX, continually pushing the boundaries, and it’s as revolutionary as ever.

Uniswap was fantastic when it first came out and still is in many ways, yet it is fairly one-dimensional.

This next-generation decentralized exchange is like Uniswap on steroids. It’s a magnificent thing to behold-offering not just token swaps a la Uniswap, but also:

  • Collateralized loans
  • Options Trading
  • Leveraged Positions
  • Locked Liquidity futures
coredex

The connection between the underlying assets and options markets often takes longer because the options trading market is often marred by a highly illiquid nature vis-a-vis the spot markets. The poor liquidity position in the options markets has led to an undue and uncalled-for increase in premiums in options prices. The ratio of low liquidity and the high premium is inversely proportional which also makes them highly volatile. 

Delta Financial is entirely aware of the apparent loophole and has solutions and liquidity standards enabling it to deploy an on-chain options layer so that it can scale up to meet the market forces. 

Delta Financial has two types of liquidity:

  • Open vesting liquidity that takes place through the Delta vesting schedule
  • Permanent Locked liquidity

Open Vesting Liquidity

Apart from utilizing that locked liquidity, the CoreDEX will also offer a new type of liquidity provision called Open Vesting liquidity. With this new provision temporarily locked liquidity will be offered to those who are looking to participate in CoreDEX without the need to buy CORE LP. 

One of their team members 0xdec4f said this:

The team studied the trends in DeFi a lot and saw that while locked liquidity creates certainty, it does not attract as much capital inflow as “free” liquidity does. You can see this in protocols such as Uniswap or Sushi.

We saw billions in TVL being moved from Uniswap to sushi over a very short time and that shows also the disadvantage of this type of liquidity. If it’s free to move, it will move wherever it can get the most value.

That’s when the team realized that currently, we have two extremes when it comes to liquidity.
Free Liquidity (sushi/uniswap) <———-> locked liquidity (CORE)

Both have advantages and disadvantages. Instead of picking up free liquidity and adding that to the platform we decided to develop a new form of partially locked liquidity and tokenized it, and that’s what Delta is.

The funds raised in the initial staking window will be used by the team to fund Delta’s long-term development. Out of the total, 26% will go to build strategic partnerships and 10% will be kept aside for research and development. 

CORE can be locked in the CoreDEX migration contract and earn fees from CoreDEX alpha and beta. This will be until the testing phase after which the platform will stabilize further and the user can be done as planned. The team is basically building two sections for coreDEX namely:

  • CORE will focus on sustainable yield generation. This will take place through token trading and lending products. 
  • DELTA will address the dearth of options and futures in the market and will go a long way in curbing and eliminating impermanent loss. 

The new product combinations combine to create a system for options liquidity providers. This way it will remove impermanent loss because the system has been built from the ground level to ensure liquidity provision.

Delta Token Vesting Schedule

Delta has an innate vesting mechanism built on its token which is pushed when a transfer is triggered. The vesting period is based on a block number schedule and is activated when Delta is transferred. 

Out of the maximum, users get 10% of the token balance while 90% is initially locked. Over a 2-week period, it will be released in a linear fashion. When a token transfer happens it rules out the vesting schedule. This way the immature tokens get distributed to the vault in the form of staking rewards. 

delta token vesting

It has come up with novel ways to create new instruments and tokenized products such as yield-producing volatility, great concept of futures based on locked liquidity, leveraged positions, collateralized lending, and much more. 

The users can trade all of these offerings easily in a highly liquid market. CoreDEX will run on a new liquidity provider token. LPs from CoreVault can easily trigger migration to the new core LP token. This way the platform will rebase its liquidity pool depending on the market conditions. The platform also ensures that the holders are provided with revenue sharing. 

The Core community is standing strong with three liquidity pools wherein CORE has around 60 million + in locked liquidity.


Delta distributor contract



Liquidity Rebasing Token (LRT)

The Delta team scores again with their outside of the box thinking with their liquidity rebasing token. They describe it here:

A new generation of tokens is in development which has an LP rebasing mechanism. It aims to limit the amount of LP tokens generated, making them more exclusive. Following an algorithmic rebasing raise, the LP mint price increases while the liquidity pool size stays the same. As a result, the price of minting new LP tokens becomes increasingly expensive to the point where they are unobtainable, creating a truly scarce LP token.

https://medium.com/core-vault/coredex-black-paper-ff51542fb8ac

Deep Farming Vault

The deep farming vault is yet another ingenious facet introduced by the Delta Financial team. The medium article states: “The Deep Farming Vault collects and distributes Delta, based on the unique Delta Vesting Schedule mechanism. Users deposit Delta or rLP tokens to earn a yield, the smart contract uses those assets to secure the unique liquidity deployments of the protocol.

In the deep farming vault users can earn both Delta tokens and ETH.

delta financial

Limited Staking Window

This is how you contribute to get delta tokens before it officially launches.

As of 2/25/21, nearly 5000 ETH has been raised and there are 6 days left in the limited staking window.

Those contributing are hoping to replicate the out-of-this-world ROIs they achieved during the cvault.finance launch. The ambition of this project is incredible, and if it succeeds would be a total game-changer in decentralized finance.

You can learn more about the details of the limited staking window here.

delta token


If you are contributing, make sure to use this to receive 10% bonus in ETH on your contribution.


DeFiRev.com is #1 in DeFi News. Check back in soon to find out the latest in DeFi News.


Thanks for reading about Delta Token!

Make sure to check out more DeFiRev articles and sign up for our exclusive newsletter + get access to VIP DeFi Networking here.


DeFiRev.com – HOME
DeFiRev.com – DeFi Market Watch



Facebooktwitterredditlinkedinmail
rss
Continue Reading

Hot Projects

BAO FINANCE CRYPTO: WHAT IS IT?

bao finance crypto
rss

BAO FINANCE CRYPO TAKING OFF! WHAT IS IT?

Bao Finance crypto token has exploded recently with unprecedented growth due to its numerous unique features. Bao Finance focuses clearly on providing a fair and equitable distribution and the creation of synthetic assets. It is an innovative second layer for synthetic assets that have been built on top of Uniswap, SushiSwap, and Balancer.

Bao Finance will use an upgraded version of the SushiSwap farming infrastructure and intends on capitalizing on the yield farming distribution model. However, at present, the APY is very attractive to farmers.

The BAO Finance crypto token acts as the governance token for the community-run project. It also is backed by an insurance fund where all the BAO fees get accumulated. 

Bao Finance crypto
Sample Menu

BAO creates a second-layer protocol and the users will utilize the assets from Uniswap, SushiSwap & Balancer to take part in the BAO ecosystem. BAO finance can also be seen as the first L2 DeFi that aims to add its protocol’s features to existing infrastructure. Users will be able to generate synthetic assets by using their LP tokens from other protocols. This has many benefits as users will be able to:

Earn fees and yield rewards by being a Liquidity provider in Uniswap, SushiSwap, and Balancer.

They will also be able to earn rewards in $BAO by staking their LP tokens as collateral. They also can issue furthermore, synthetic assets to invest in other assets. Essentially speaking BAO finance focuses on early distributive equity and the generation of synthetic assets. 

Yesterday, February 4, Hotbit launched BAO Finance on its global section. The deposit function was launched yesterday at 9.00 AM UTC and the trading function was launched at the same time yesterday. The launch comes with the unraveling of 2 trading pairs – BAOFI/USDT, BAOFI/ETH for the same. Hotbit cryptocurrency exchange is also a cryptocurrency trading platform that integrates different forms of solutions like spot trading, financial derivatives, and DAPP also integrated into one platform. 

The most interesting thing about yield farming here is that there are several hundreds of LP pairs available to yield farms. Though users will only get 5% of the BAO token which they farm the remaining period will be the vesting period of over 3 years with a 1-year cliff!

bao finance crypto

DeFiRev.com is #1 in DeFi News. Check back in soon to find out the latest in DeFi News.


Make sure to check out more DeFiRev articles and sign up for our exclusive newsletter + get access to VIP DeFi Networking here.


DeFiRev.com – HOME
DeFiRev.com – DeFi Market Watch

Facebooktwitterredditlinkedinmail
rss
Continue Reading

Hot Projects

AAVE CRYPTO ASSET SOARING

aave
rss

AAVE SOARING TO NEW HEIGHTS AS IT BREAKS $500 USD

AAVE is on fire reaching new all-time highs in rapid succession. As of today, February 4th, 2021, an earth-shattering volume of nearly 3 billion dollars of AAVE was traded in the past 24 hours.

Aave clocks in a new ATH ever since the v2 migration tool launch

Aave (AAVE) has been going strong ever since February began. In just 5 days, AAVE has increased by 76% and today the token hit a new all-time high of $520. The protocol to date has successfully captured users and has done well against its competition. The latest rally for Aave started on Jan 28 when the protocol announced the v2 migration tool. The tool allowed users to easily migrate all account information including the borrowed positions and staked tokens. 

The new tool also facilitates easy migration of user information to the updated protocol. Recently on the 1’st of February, the team from Aave protocol posted an update about the same:

“Today is the last day to vote on the AIP to add $BAL on Aave V2.”

A day following the announcement the proposal was passed by the community. The Balancer (BAL) was added on Aave 2 and it was around that time that AAVE rallied from $284 to $300.

The DeFi platform of AAVE is also rejoicing since the platform is undergoing immense upgrades. As per DeFi pulse, the total value locked in the DeFi protocol is now at $4.96 billion ranked second after Maker which has $5.16 billion in total value locked. 

AAVE, which is the 15th largest coin in terms of market cap, also recorded a staggering 24-hour trading period. Its trading volume in the last 24-hours touched $2.4 billion! Treyce Dahlem who is a research analyst believes that the recent surge in AAVE price has been fuelled by the big players and institutions who are becoming increasingly interested in DeFi.

He added, “Billionaire Mark Cuban recently spoke about the “unlimited upside” of DeFi and according to a snapshot of his on-chain portfolio, he is an AAVE whale holding more than $150,000 worth of the token. Grayscale recently filed more than a dozen altcoin trusts with Delaware’s corporate registry, one of those altcoins being AAVE. Additionally, Bitwise added AAVE to their Bitwise 10 Large Cap Crypto Index. These announcements have caused investor sentiment to reach a new YTD high of 83.5 (very high).”

aave crypto
https://www.coingecko.com/en/coins/aave

AAVE is quickly becoming a household name in DeFi for its revolutionary approach to decentralized lending, and our analysts believe that with the stellar leadership of Stani Kulechov, the Founder and CEO of AAVE, we predict AAVE will move into the top 10 digital assets quite quickly.

It seems apparent that AAVE is the de facto industry leader in its sector, and we surmise that it will be the perfect way for the everyday individual to get their feet wet with DeFi.

Recently, the migration tool from V1 to V2 was made available:


aave

DeFiRev.com is #1 in DeFi News. Check back in soon to find out the latest in DeFi News.


Make sure to check out more DeFiRev articles and sign up for our exclusive newsletter + get access to VIP DeFi Networking here.


DeFiRev.com – HOME
DeFiRev.com – DeFi Market Watch

Facebooktwitterredditlinkedinmail
rss
Continue Reading
bitcoin
Bitcoin (BTC) $ 50,959.00
ethereum
Ethereum (ETH) $ 1,671.40
binance-coin
Binance Coin (BNB) $ 237.02
tether
Tether (USDT) $ 1.00
cardano
Cardano (ADA) $ 1.14
polkadot
Polkadot (DOT) $ 34.55
xrp
XRP (XRP) $ 0.466336
uniswap
Uniswap (UNI) $ 32.18
litecoin
Litecoin (LTC) $ 188.12
chainlink
Chainlink (LINK) $ 28.12
bitcoin-cash
Bitcoin Cash (BCH) $ 513.17
stellar
Stellar (XLM) $ 0.412155
usd-coin
USD Coin (USDC) $ 1.00
nem
NEM (XEM) $ 0.732969
dogecoin
Dogecoin (DOGE) $ 0.051286
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 51,096.00
aave
Aave (AAVE) $ 409.85
okb
OKB (OKB) $ 17.23
cosmos
Cosmos (ATOM) $ 19.23
theta-token
Theta Network (THETA) $ 4.28
crypto-com-chain
Crypto.com Coin (CRO) $ 0.158026
vechain
VeChain (VET) $ 0.057641
monero
Monero (XMR) $ 207.83
tron
TRON (TRX) $ 0.051243
solana
Solana (SOL) $ 13.94
iota
IOTA (MIOTA) $ 1.30
eos
EOS (EOS) $ 3.80
bitcoin-sv
Bitcoin SV (BSV) $ 184.24
terra-luna
Terra (LUNA) $ 7.99
havven
Synthetix Network Token (SNX) $ 21.38
binance-usd
Binance USD (BUSD) $ 1.00
tezos
Tezos (XTZ) $ 4.06
huobi-token
Huobi Token (HT) $ 15.13
neo
NEO (NEO) $ 38.91
ftx-token
FTX Token (FTT) $ 30.41
dai
Dai (DAI) $ 1.00
elrond-erd-2
Elrond (EGLD) $ 143.65
cdai
cDAI (CDAI) $ 0.021246
filecoin
Filecoin (FIL) $ 41.36
compound-ether
cETH (CETH) $ 33.54
the-graph
The Graph (GRT) $ 1.88
avalanche-2
Avalanche (AVAX) $ 27.03
sushi
Sushi (SUSHI) $ 17.10
dash
Dash (DASH) $ 212.96
compound-governance-token
Compound (COMP) $ 487.51
kusama
Kusama (KSM) $ 233.29
compound-usd-coin
cUSDC (CUSDC) $ 0.021756
maker
Maker (MKR) $ 2,220.61
decred
Decred (DCR) $ 153.61
leo-token
LEO Token (LEO) $ 1.93