Are the Institutions Here? Ether futures ETFs from ProShares, VanEck & Others Are Live!
Last Week In The Multi-Chain Ecosystem (02 - 08 Oct '23)
Welcome to LI.FI’s Cross Chain Insider newsletter, a curation of the major updates and announcements from the industry’s leading cross-chain protocols and blockchain ecosystems.
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Bridge Updates
1) Connext’s xERC20 Standard will be Supported by AltLayer 🔥
AltLayer announced that it will support Connext’s xERC20 with its rollup ecosystem ‘to promote greater on-chain security & enhance sovereignty of token issuers.’
xERC20 proposes an open token standard that solves the problems token issuers face today without locking them into a single bridge or ecosystem. Learn more.
2) LayerZero Partners with Conflux Network 🤝
Conflux Network, a hybrid PoW / PoS public blockchain, is collaborating with LayerZero Labs to integrate omnichain capabilities into China Telecom’s blockchain SIM (BSIM) card (400 million subscribers).
3) Axelar Foundation Proposes New AXL Tokenomics 🤔
Axelar Foundation has proposed new AXL tokenomics to enable decentralized security and permissionless programmability across a coming L2 expansion.
After illicit transactions from FTX hacker, ThorSwap announced that it has paused swaps and has temporarily transitioned the THORSwap interface into maintenance mode.
5) LI.FI Partnerships and Integrations 💪
LI.FI announced the following partnerships and integrations last week:
JOJO, a DeFi-Native Perpetual Contract Trading Platform on Arbitrum — users can now deposit directly into JOJO on Arbitrum from other chains.
Lattice, the Gateway to Constellation’s web3 ecosystem — users can now bridge and swap any asset from 19 chains to receive $LTX on Ethereum.
MtopSwap, a MetaDEX Aggregator — users can execute seamless cross-chain swaps across 19 leading chains and layer-2s in just a few clicks.
FiDi, the data hub for web3 data — users can bridge and swap any asset across 20 leading chains.
Multi-Chain Ecosystem Updates
1) Native Bitcoin is Coming to Osmosis ⚡
Nomic Chain, the first IBC chain connected to Osmosis not built on the Cosmos SDK, is bringing nBTC, an IBC-compatible token, to Osmosis.
nBTC will allow users to bring their BTC into Cosmos without converting it into another cryptocurrency.
2) CCTP Integration for Avalanche Devs 🔥
Avalanche devs can now integrate Circle’s CCTP into their apps using Wormhole Connect — allowing app builders to offer native USDC cross-chain transfers to their users.
TradFi 🤝 Crypto
1) Ether futures ETFs from ProShares, VanEck and others are now live on the market. These are the first ETFs ever to launch that are based on ether futures, almost two years after the launch of the first bitcoin futures ETF.
2) Coinbase has been granted a key regulatory license in Singapore. The license paves the way for Coinbase to offer a wider range of Digital Payment Token services in the region.
Interesting Reads
1) Solana: Past, Present, and Future
2) The Cross-Domain Thesis Part 2: Storage Proofs, Computation, and Bloat
3) LayerZero on Nonce-Order Enforcement
4) Why LI.FI is Excited about Eclipse & The Modular Future
5) Monolithic vs Modular Blockchains: The Twin Suns Thesis
Last week, LI.FI kicked off the “Thinking Modular” series with Spaces #1: Overview of the Modular Blockchain Landscape. Make sure to check out the recording.
Comment and let us know which team building for the modular future you’d like us to feature in the future! 👇
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