USDC Launching on 6 New Chains | Base Adoption Skyrocketing & More!
Last Week In The Multi-Chain Ecosystem (21 - 27 Aug '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.
If you want to join this community of cross-chain aficionados, subscribe below.
You can also check out LI.FI’s research articles, and follow us on Twitter!
Bridge Updates
LI.FI now supports swaps on and bridging to Base. Developers can unlock access to liquidity on/to Base by integrating LI.FI’s API, SDK, and Widget. Users can swap and bridge to Base via Jumper.exchange.
2) Wormhole Introduces Wormhole Foundation 👏
Wormhole official introduced the Wormhole Foundation (WF), a team on a mission to support products within the Wormhole ecosystem. The team aims to support innovations and startups with their xGrants program, fellowships and a $50M fund.
3) Connext Sybil Hunter Program and $NEXT Airdrop Update 🧐
After reviewing feedback, Connext has increased the total size of the airdrop and the following transactions have been included:
Executed on Connext to or from Evmos, Cronos, Arbitrum Nova, Gather Network, and Milkomeda are now included.
Executed on Connext's V0 (known as Vector).
Executed via Bungee JumperExchange aggregators.
4) Biconomy Announces Multi-chain Validation Module 💪
Biconomy launched multi-chain validation module, a smart account module that enables users to click once and with one signature deploy and setup smart accounts across chains.
5) Particle Network Integrates LI.FI 🤝
Particle Network, a full-stack Web3 application development platform, has integrated LI.FI to power cross-chain swaps inside wallets using Particle's Wallet-as-a-Service.
Multi-Chain Ecosystem Updates
1) Coinbase Buys Stake in Circle & Launching USDC on 6 New Blockchains 🤝
Circle and Coinbase are deepening their commercial relationship with Coinbase, taking equity stake in Circle. The goal is to make USDC the world's most widely used digital dollar.
Circle also announced that it will launch native USDC on six new chains, including: Base, Cosmos, Noble, Near, Optimism, Polkadot and Polygon.
2) Solana Pay Integrates Plug-In With Shopify 🔥
Solana Pay, a decentralized, open-source, peer-to-peer payments protocol built on Solana by Solana Labs, has integrated with Shopify. Merchants on Shopify can now accept fast, web3 native payments with no transaction fees via Solana Pay
3) Base’s Commitment to Decentralization with the Superchain 🔵🔴
Base announced a revenue-sharing and governance-sharing agreement with Optimism, according to which:
Base’s smart contracts can only be upgraded via a 2-2 multi-sig account (managed by the Base team and Optimism Foundation).
Invalid output proposals can be deleted via a 1-2 challenger key by either the Base team or the Optimism Foundation.
Base will pay either 2.5% of its revenue or 15% of its profits to the Optimism Collective.
Base can earn up to 2.75% of the OP supply for the next 6 years.
Membrane Finance has launched EUROe, a MiCA-compliant euro stablecoin, transforming fiat euros into blockchain-enabled digital money, on Solana.
EUROe can be created and redeemed in a 1:1 ratio, without fees, by anyone with an EUROe account.
5) Dymension Incentivized Testnet is Live 🤑
Dymension announced the launch of Froopyland, an incentivized testnet for permission-less IBC RollApp deployment. This event marks the future allocation of 1% of the total Mainnet genesis supply.
Interesting Reads
1) How MEV backrunning bots are spamming Base for FT shares
2) The Engineer’s Guide to Blockchain Finality
3) On the impossibility of Stateless Blockchains
4) Why is Cross-Chain Mechanism Design Hard?
5) Unpacking Celestia: An Introduction to Modular Blockchains
Get Started With LI.FI Today
For more information about the LI.FI protocol,
Head to our link portal at link3.to/lifi
Read our SDK’ quick start’ at docs.li.fi
Join the official Discord server
Follow our Telegram Newsletter
Subscribe on our Substack
or try our any-2-any swaps NOW at jumper.exchange