Weekly Project Update：Reddit Points, Conflux Changes to Ethash, APE Sells Off and Top 10 Projects
1、Reddit Taps Arbitrum Nova And FTX For Community Token Link
News: The Arbitrum Nova chain is the second chain to be launched in the Arbitrum ecosystem, aims to solve pain points for Web3 games and social apps. Arbitrum announced a collaboration with Reddit on August 9, and Reddit would construct its community points system on Arbitrum Nova. Community points will initially be accessible on the Fortnite Subreddit and the Bitcoin Subreddit. Reddit has also partnered with FTX, allowing users to utilise FTX Pay top-ups.
2、Cosmos has announced the pre-release of interchain security version V0.1, while Kujira Network has announced the launch of Cosmos Ecostablecoin USK. Link
News：On August 11, Cosmos announced the pre-release of interchain security version V0.1, which will go through intensive auditing and testing over the next several months before being formally released and deployed to the Cosmos Hub.
Kujira Network announced the launch of a soft-anchored overcollated Cosmos Ecostablecoin USK on August 8th, initially powered by ATOM (KUJI will be added later). Users can either pledge ATOM collateral or destroy USK to redeem their collateral. On August 9th, USK and ORCA will go live on the testnet and are scheduled to go live in roughly two weeks. Link
Comment：As L0’s leaser, Cosmos’s upgraddation aims to increase security, and the later launch of USK is beneficial to Cosmos’s defi ecosystem.
3、Conflux community proposed to switch from PoW to Ethash. Link
News: On August 10, Conflux community launched a proposal to change its PoW mining algorithm to Ethash to make it easier for Ethereum miners to switch to Conflux.
Comment: Conflux is a leading public chain in mainland China. This proposal indicated Conflux’s attempt to drain ecological resources for its own benefit, and it is worthy of further attention.
4、Angle Integrates with LayerZero to Make agEUR Chain Agnostic Link
News：LayerZero is a full-chain interoperability protocol that allows DApps to be built across multiple blockchains in a trust-free and efficient manner. Angle is an overcollateralized, decentralized, and capital efficient stablecoin Protocol, and the Angle Protocol aims to create a sustainable currency layer for all blockchains.
On August 11, LayerZero announced integration with the Euro Stablecoin Protocol Angle Protocol. AgEUR is now transferable between Ethereum, Polygon, Optimism, and Arbitrum, and all liquidity pools are unified.
5、Recursive Proving is live on Mainnet, scaling StarkEx apps as well as StarkNet with a single proof Link
News: On August 11, StarkWare announced that recursive proving is live on Mainnet, scaling StarkEx apps as well as StarkNet with a single proof. It boosts scale, and delivers benefit in cost, and latency (a rare and exciting occurrence of scale and latency moving in tandem, and not being a tradeoff) and it also sets the stage for L3 and other benefits.
6、Web3 infrastructure platform Ankr starts staking Link
News: Ankr 2.0 is a decentralised ecosystem in which independent node operators collaborate with Ankr nodes and ecosystem contributors and partners are rewarded for providing services to developers, thereby driving the growth of Web3. On August 11, ANKR Token holders will be able to stake their tokens for rewards via the ANKR network. Staking will earn up to 9% APY in the first iteration, with other potential earnings in the future.
7、Stepn starts GMT mining and apply the Line to the Japanese market Link
News：On August 8th, STEPN announced the launch of GMT earnings. The specifics are as follows: users must have at least three energies to qualify for GMT revenue, and GMT profitability changes dynamically every 5 minutes based on the current number of real-time GMT moneymakers. Classic, Rainbow, Rainbow Plus, and Schadenfreude are the four revenue pools. The revenue pool is determined by the type of running shoe, with a different revenue percentage.
On August 9th, LINE and STEPN signed an agreement to develop STEPN and provide STEPN localization services for the Japanese market using “LINE Blockchain.”
Comment：Stepn has begun to focus on the overseas market since ceasing to provide services to the mainland. And this movement is Stepn’s voyage into Japanese markets.
8、The week summary of Meta universe leader APE Link
News: On August 11, ApeCoin DAO’s proposal AIP-64 for Web3 Village was approved. On August 10, Jeffrey Huang (Taiwan singer Huang Lecheng) sold 13 MAYC, earning about $350,000, and within one week, he nearly sold out all his Ape coins. On August 10, Magic Eden submitted a proposal to the ApeCoin DAO to create an NFT marketplace for ApeCoin ($APE) holders, who can buy and sell NFTS for a transaction fee of 0.75%.
9、Axie launches the third phase of Origin Link
News：On August 12, Axie Infinity launched Origin Phase 3, which officially transfers SLP rewards to Origin and releases NFT runes and amulets that require SLP and Moon Shards to produce. There were also changes to leaderboard rewards, crafting/breaking systems, and balance. According to Axie Infinity, the game’s components, including rewards and balance, will be significantly tweaked and changed in Season 0.
10、everPay supports PlatON to connect its ecosystem to Arweave Link
News: On August 11, EverPay, an Arweave-based cross-chain payment protocol, announced that supported PlatON now, allowing assets accross from PlatON network to the Arweave ecosystem. PlatON users can also use PlatON assets to pay for Arweave’s storage fees and experience everPay’s real-time, 0 Gas transfer service.
Comment：Arweave, as the leader of the storage track, has advantages in the ecosystem. Therefore, it is worthwhile to track and evaluate Arweave’s ecosystem development.