Blockchain News - Optimisus

11 months ago 1 min read

Mantle Network merges with its backer BitDAO

Mantle Network, an Ethereum Layer 2 solution, has merged with its backer BitDAO. The merger was approved by BitDAO community members through a governance proposal titled BIP-21. The merger will combine BitDAO’s governance framework and treasury with Mantle Network’s technical prowess. This will create a unified ecosystem with the goal of refining branding, tokenomics, and creating a unified product focus. As part of the merger, BitDAO’s governance token will be rebranded to Mantle, represented by the ticker symbol MNT. Mantle Network developers will also inherit almost $300 million in stablecoin reserves and over 270,000 ETH ($485 million) from BitDAO. This

Lido the largest liquid staking protocol

12 months ago 1 min read

Lido V2 Enables Ethereum Withdrawals

Lido, the largest liquid staking protocol, has launched V2 and released staked Ethereum (stETH) withdrawals. This is a major development for Lido and the Ethereum ecosystem as a whole. With Lido V2, users can now withdraw their stETH tokens and receive the equivalent amount of ETH. This was not possible before, as stETH tokens were locked up until the Ethereum 2.0 merge. The ability to withdraw stETH tokens is a major advantage for Lido users. It gives them more flexibility and control over their assets. Users can now use their stETH tokens to trade, lend, or participate in other DeFi

Ethereum Proves Resilient with Successful Recovery from Performance Issues

12 months ago 1 min read

The Ethereum Network Recovers from Performance Issues

The Ethereum network experienced technical issues, causing the network to stop finalizing blocks for over an hour on Friday. This was the second such incident within 24 hours, raising concerns for users of the second-largest blockchain by market capitalization. However, the network has resumed finalizing blocks, and clients are releasing updates to address the issue, according to Terence.eth, a pseudonymous Ethereum developer. Finalized blocks play a crucial role in providing proof-of-work validation, making networks like Ethereum easy to trust and reliable to use. While Ethereum’s performance issues within the past week could potentially affect its credibility in the eyes of

Cardano's first Hydra node compatible with the mainnet was launched on May 11 2023

12 months ago 1 min read

Cardano’s Hydra Scaling Solution Goes Live

On May 11, Cardano’s first Hydra node compatible with the mainnet was launched, ushering in a new era of scalability for the blockchain. According to developer Sebastian Nagel, the launch follows months of rigorous testing to ensure that the layer2 scaling solution is ready for prime time. The Hydra protocol aims to enhance the network’s scalability by increasing transaction speed through low latency and high throughput while minimizing transaction costs. With the updated Hydra node API, users can enjoy a smoother experience that accommodates their requests. The launch of the Hydra head is just the beginning, as there are plans

MakerDAO has revealed its plan aimed at enhancing efficiency

12 months ago 1 min read

MakerDAO Integrates AI for Enhanced Blockchain Capabilities

Decentralized platform MakerDAO has revealed its plan for a major update dubbed Endgame, aimed at enhancing efficiency, resilience, and participation through the use of AI tools and open, scalable processes. The ultimate goal of the update is to become the most widely-used stablecoin project within three years. MakerDAO co-founder Rune Christensen announced that Endgame would streamline and parallelize the Maker Ecosystem, launching a new unified brand identity and six new SubDAOs that users can farm, spearheading permissionless innovation and collateral allocation. The first step towards Endgame will focus on establishing a unified brand for the ecosystem through a beta launch

DeFi Giant MakerDAO Introduces Spark, A New Lending and Borrowing Platform

12 months ago 1 min read

MakerDAO Expands DeFi Footprint with Spark Lending and Borrowing Protocol Launch

MakerDAO, a pioneer in decentralized finance (DeFi), has announced the launch of its new lending and borrowing platform, Spark Protocol. The platform, which was launched on May 9, is an end-user, DAI-centered DeFi product built on Ethereum. It allows for supply and borrows functionalities for ETH, stETH, DAI, and sDAI. Spark Lend, the protocol’s first product, is focused on lending and borrowing cryptocurrencies using DAI, Maker’s native stablecoin. Users can interact with Spark’s front end directly, connecting Maker’s liquidity with a complete DeFi solution. Spark Lend also introduces a tokenized version of DAI deposited in the DAI Savings Rate (DSR)

Deloitte joins Polkadot ecosystem to revolutionize blockchain accounting.

12 months ago 1 min read

Deloitte partners with Polkadot to strengthen blockchain accounting services

On May 4, Polkadot announced that Deloitte, a leading global accounting firm, had partnered with KILT Protocol on the Polkadot ecosystem. The move will enable the firm to improve its digital identification protocols with cutting-edge technology for digital identities. Deloitte will leverage KILT’s reusable digital identity credentials to support its KYC (know your customer) processes, which are vital in protecting financial institutions against fraud, corruption, money laundering, and terrorist financing. KILT Protocol runs as a parachain on Polkadot and vastly improves upon current KYC inefficiencies, which can put consumer data at risk. KILT provides reusable credentials that are stored in

12 months ago 1 min read

Cardano’s Hydra Scaling Protocol Finally Launched on Mainnet

Input Output Hong Kong (IOHK), the company behind the Cardano protocol, has recently launched the first Hydra head on the blockchain’s mainnet, setting a new standard for scalability on the proof-of-stake (PoS) network. This development is considered one of the most important in the Cardano ecosystem for this year, as it is expected to support the adoption of the blockchain in areas where cheap and fast transactions are required. Hydra is a family of Layer 2 protocols aimed at making the Cardano parent blockchain more usable by scaling its transactions. The goal of the Hydra development is to achieve ultimate

Nigeria government has approved a national blockchain policy

12 months ago 1 min read

Nigeria Takes a Step Towards a Blockchain-Powered Economy with New National Policy

Nigeria has approved a national blockchain policy in its bid to shift towards a digital economy. The policy was developed by the Federal Ministry of Communications and Digital Economy, with the aim to create a blockchain-based economy that facilitates secure transactions, data sharing, and value exchange among individuals, businesses, and the government. The policy document has not been made public yet, but the government has directed regulators like the Central Bank of Nigeria and the Securities and Exchange Commission (SEC) to develop regulatory frameworks for the deployment of blockchain technology across various sectors of the economy. The government did not

Interoperability protocol Axelar has facilitated the cross-chain functionality of yield optimization protocol Sommelier by connecting it to Ethereum Layer 2 network Arbitrum One. With the help of Axelar's General Message Passing (GMP) protocol, Sommelier's DeFi vaults, which operate on the Cosmos ecosystem and Ethereum, will now be available on Arbitrum, enabling users to optimize their crypto assets and trade through lending services. Axelar's GMP enables the transmission of data and commands between smart contracts on different chains, allowing cross-chain applications to operate effectively. Previously, in a Series A funding round led by Polychain Capital, Sommelier raised $23 million, which was overseen by former lead developer for Cosmos and Tendermint, Zaki Manian.

12 months ago 1 min read

Axelar Integrates Sommelier DeFi Vaults with Arbitrum Network

Axelar, an interoperability protocol, has enabled Sommelier, a yield optimization protocol on Cosmos, to become a cross-chain application by connecting it with Ethereum Layer 2 network Arbitrum One. Sommelier’s DeFi vaults operate on its blockchain in the Cosmos ecosystem and Ethereum, and now they will be available on Arbitrum One, allowing users to optimize yields on their crypto assets through lending and trading services. This development was made possible with the help of Axelar’s General Message Passing (GMP) protocol, which facilitates communication between the two ecosystems. The protocol enables data and assets to move between the two ecosystems, making it

Phantom Wallet expands its capabilities with Ethereum and Polygon integration

12 months ago 1 min read

Phantom Wallet now supports Ethereum and Polygon

Self-custodial wallet Phantom has made a major announcement, revealing that its mobile app and browser wallets are now simultaneously supporting Ethereum and Polygon networks. This means that users can access a wide range of dApps across the Web3 landscape, including Uniswap, Magic Eden, Aave, OpenSea, and Blur. The popular Solana wallet first announced its support for rival blockchains Ethereum and Polygon in November last year, intending to offer the ability to interact with the three largest blockchains for digital collectibles in one location. Phantom CEO Brandon Millman stated that the company is committed to using its Solana ecosystem expertise to

Coinbase has announced that it will add Osmosis (OSMO)

12 months ago 1 min read

Cosmos-Based DeFi Protocol Gains Momentum on Coinbase Listing Speculations

Coinbase has announced that it will add Osmosis (OSMO), a Cosmos-based decentralized finance (DeFi) project, to its listing roadmap. This has given the OSMO token a price boost amid the ongoing market doldrums. Osmosis is an automated market maker (AMM) protocol built on the Cosmos software development kit (SDK) that enables cross-chain transactions using inter-blockchain communication (IBC). The project’s website explains that Osmosis allows users to launch liquidity pools with unique parameters and an adaptable incentive structure. OSMO’s native governance token was trading around $0.7325 before the Coinbase announcement and has since shot up to $0.8106 at the time of