DeFi Daily News，November 5th, 2020
1. Bitcoin is making gains during the U.S. presidential election uncertainty while Ethereum’s gas data is highlighting a DeFi decline. Bitcoin (BTC) trading around $14,061 as of 21:00 UTC (4 p.m. ET). Gaining 2.2% over the previous 24 hours, which trading range was between $13,545 and $14,232.
2. According to Etherscan data, as of now, the Ethereum 2.0 deposit contract address (0x00000000219ab540356cbb839cbe05303d7705fa) has received 13,989 ETH worth nearly 5.6 million US dollars. Ethereum developer ConsenSys reminded, “Do not send any tokens directly to the contract. Sending ETH directly to the contract address will cause the transaction to fail. This does not mean that you are using Ethereum 2.0. To participate in Ethereum 2.0 Network, you need to use a dedicated Launchpad and follow the instructions, or join a service provider.” Chain News previously reported that on the evening of November 4th, the Ethereum Foundation wrote an article that the Ethereum 2.0 specification v1.0 has been released. Including the online Ethereum 2.0 deposit contract address. The earliest creation time of Ethereum 2.0 is December 1st, 2020.
3. According to the ChainNews, cryptocurrency debit card company Crypto.com (CRO) announced that after successfully launching DeFi Swap and DeFi wallet, it has now launched a DeFi dashboard. Users can find gas fee information about different protocols, including Crypto.com DeFi Swap, Uniswap, Curve, Bancor, etc., and more protocols will be added in the future. At the same time, users can also view specific transaction types, including fees for providing liquidity from various DeFi pools. Crypto.com said, “The DeFi dashboard can provide users with real-time indicators for them to choose the right DeFi product.”
4. Decentralized Synthetic Assets Agreement UMA announced the launch of developer mining activities. It plans to allocate 35% of UMA token supply, which belongs to the community token distribution category. The current value exceeds 250 million US dollars. Beginning on November 10th, the Risk Labs Foundation will pay 50,000 UMAs (worth more than US$300,000) to developers responsible for casting synthesizers on a weekly basis and distribute the ownership of the agreement to developers based on the agreement. Developer mining will pay rewards to developers based on the total locked-up value in the financial contract designed by it. Developers can keep the rewards or distribute the rewards to users to increase the enthusiasm of liquidity providers to use the agreement. This also means that developers can flexibly customize liquidity mining programs. Chain Wen noted that UMA is a protocol for constructing synthetic assets, and its governance token UMA can be used to conduct system governance and resolve oracle disputes.
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