Iron Bank x LI.FI | Hop Launches Liquidity Mining Program | Liquality Integrates LI.FI's SDK | zkSync Completes Baby Alpha Milestone & More!

Last Week In The Multi-Chain Ecosystem (24-30 Oct 2022)

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Oct 31, 2022

Welcome to LI.FI’s Cross Chain Insider newsletter. If you want to join this community of cross-chain aficionados learning about bridges, interoperability, and the multi-chain ecosystem, subscribe below:

You can also check out LI.FI’s research articles, and follow us on Twitter!

Bridge Updates

1) Liquality Wallet Integrates LI.FI’s SDK 🦎

Liquality, an open-source multi-chain wallet, has added LI.FI as a swap provider by integrating its SDK. The integration enables Liquiality to offer a comprehensive cross-chain swap solution using LI.FI’s bridges and DEXs.

2) Hop’s Liquidity Mining Program is Now Live 💸

It’s APE season again! Hop has launched its first liquidity mining program with 2M HOP tokens distributed monthly to LPs. LPs can now stake their tokens to earn $HOP rewards and trading fees.

3) Connext’s Amarok Upgrade is Complete ✅

Connext announced that Amarok, its network upgrade, is complete and will be launched in Beta in the coming weeks. The team also announced their “WhatsNext” initiative — a series of Twitter Spaces which brings together Web3 projects to share their vision.

4) Iron Bank Integrates LI.FI’s Widget 🤝🏻

Iron Bank has partnered with LI.FI to power its new bridging page: https://app.ib.xyz/bridge — Iron Bank users can now securely bridge their assets directly through its front end (powered by LI.FI).

Multi-Chain Ecosystem Updates

1) NEAR’s $USN to Gradually Wind Down 😮‍💨

Decentral Bank, the issuer of $USN (native stablecoin of the NEAR ecosystem), has announced it will “wind down the USN project in a controlled and responsible manner”. No new $USN will be minted, and users can safely redeem $USN 1:1 for $USDT through a $40M Protection Program.

2) Klaytn’s $KLAY Buyback Announcement 🆙

Klaytn Foundation has announced its plans to buyback and burn KLAY tokens from centralized exchanges by using its reserves. With this move, the team aims to build a more sustainable ecosystem for Clayton.

3) Sei Whitepaper Released 📖

Sei, a sector specific L1, has released its whitepaper, highlighting its vision and tech. You can also check out the whitepaper’s breakdown by Jay (co-founder of Sei Network) here.

4) zkSync Completes Baby Alpha Milestone 💪🏻

zkSync announced that it has hit its Baby Alpha milestone and began the march to Fair Onboarding Alpha and Full Launch Alpha. This milestone marks the deployment of zkSync’s end-to-end zkRollup, with all its components, to Mainnet.

What’s Popping on Twitter?

To bridge or not to bridge (to Aptos)?

Aptos Mainnet launched last week and has gained a fair share of interest, especially from Bridgoors, eager to test out a new chain. Josh Lind (Founding Engineer at Aptos Labs) shared some stats and insights related to the first 24 hours of Aptos.

Josh Lind @aptos_ape

1/ Seven interesting observations about the last 24 hours on the Aptos Blockchain. An engineering perspective. Thread below 🧵

Some interesting data points from Aptos’ 24h performance include:

2.5 million transactions (with an average TPS of 27 txn/s and sustained peaks of over 70 txn/s).
>570,000 daily active users.
0.9 seconds latency for transaction finality.
102 validators, 140 full validator nodes, and 2,000+ full public nodes.

Users can bridge to Aptos via the Aptos Bridge launched by LayerZero. It enables bridging between Aptos and L0-supported chains like Ethereum, Arbitrum, Optimism, Avalanche, Polygon, and BNB and allows users to bridge USDC, USDT, and ETH to/from Aptos (Critical note: see bartek.eth security concern related to the Aptos bridge here).

What can you do by bridging to Aptos?

The Aptos ecosystem is in its early days and has only $36 million in TVL spread across ten applications. Here’s an overview of the three largest dApps native to Aptos that you can test: