Ripple and XRPL Labs become members of the Decentralized Recovery (DeRec Alliance). Arbitrum (ARB Coin) reached an important milestone on its network. Binance Labs incubation project UXUY completes $7 million funding round. And more…
Important news from ARB Coin and these 5 altcons!
Ripple and XRPL Labs partner with DeRec Alliance
Ripple and XRPL Labs became members of the Decentralized Recovery (DeRec Alliance). Thus, it joined Swirlds Labs, developer of the blockchain network Hedera, and the Algorand Foundation. Other members of the DeRec Alliance include Acoer, BankSocial, Blade Labs, The Building Blocks, Casper Association, Constellation Network, The Hashgraph Association, The HBAR Foundation and Revive Labs.
DeRec Alliance was founded by Hedera co-founder Leemon Baird. With DeRec, Baird aims to provide an open-source process that accelerates the recovery of digital assets. Members are collaborating to develop a new interoperability recovery standard applicable to a wide range of users, especially those without crypto expertise. Commenting on the issue, Baird said
In this digital age, users need a safety net when they lose their keys, passwords or other secrets. This is essential for both web2 and web3 and critical to bringing these technologies to the majority of the world. It’s great to see the industry working together to build the DeRec Alliance to address this need.
Arbitrum (ARB Coin) reaches 2 million daily transaction milestone
Ethereum layer-2 scaling solution Arbitrum (ARB Coin) has reached a significant milestone on its network. According to data from analytics platform IntoTheBlock (ITB), Arbitrum’s daily transactions increased to two million as of May 8. Accordingly, since March, Arbitrum (ARB Coin) has consistently averaged one million transactions per day. This is significant as it proves that the network is more user-friendly than its peers. The Arbitrum (ARB Coin) transaction wave has been a huge accumulation over time. According to a shared yearly chart, Arbitrum’s transaction growth remained relatively steady around 100,000 to 500,000 from September to October 2023.
Uniswap front-end feels pressure since wage hike
In mid-April, Uniswap Labs increased the exchange fee through its interface from 0.15% to 0.25%. This fee applies to most, if not all, swaps conducted using the Uniswap web interface and wallet. Using the Uniswap Labs interface is not the only way to use Uniswap. Traders can use aggregators, alternative user interfaces to make swaps. Or they can go directly through the smart contract. When the fee was first introduced in October 2023, Uniswap founder Hayden Adams said it would allow his team to “continue to research, develop, build, ship, improve and expand crypto and DeFi.”
Meanwhile, as you have been following from Kriptokoin.com, Uniswap has received a Wells Notice from the US SEC. The fee change also took place shortly after this development was made public. The fee seems to have had an impact on the popularity of the Uniswap interface. The Uniswap front-end accounted for 30% of DEX activity in April, compared to 35.8% in March.
UXUY completes $7 million funding round
UXUY, the next-generation decentralized multi-chain trading platform incubated by Binance Labs, announced the completion of a $7 million Pre-A financing round in Hong Kong. Since its inception, the total amount of funding has exceeded $10 million. UXUY is an important founder of the Bitcoin ecosystem. In addition, more than 100,000 traders use Bitcoin Lightning Network services through UXUY.
Mande Network launches an airdrop request channel
Mande Network, an on-chain network based on Dymension and Celestia, announced the opening of a MAND airdrop request channel. Users need to stake at least 15 DYM. The project also announced that it took the snapshot on April 30th.
Merlin Chain’s largest dApp TVL surpasses $1 billion
Bitcoin’s second-tier network Merlin Chain reported that $3.8 billion of its liquidity has flowed into ecosystem dApps since it released its pledge at the end of April, with DeFi, infrastructure, games, and other areas developing rapidly. According to DefiLlama data, the TVL of Merlin Chain’s top dApps has surpassed the $1 billion mark. These include
- DeFi protocol Solv Protocol surpassed $600 million TVL.
- The lending protocol Avalon exceeded $200 million TVL.
- Another lending protocol Mage Finance exceeded $85 million TVL.
- DEX MerlinSwap generated nearly $800 million in total trading volume, nearly $100 million in TVL and 320,000 active addresses on Bloclchain.
- Launchpad Merlin Starter has generated $880 million in total trading volume so far.
- 3D open-world game Dragonverse Neo surpassed $20 million in transaction volume. It also has 6,631 players.
- NFT Marketplace project Unicross has surpassed 200,000 active addresses on-chain.
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