Digital Yuan on App Stores - The WAGMI Journal #54
The US needs to develop its CBDC asap.
In today’s issue:
The crypto market is slightly down with the global market cap sitting at ~$2.2-2.3 trillion. NEAR, FTM, ICP, and CELO are amongst the top performers in the past 24-h, showcasing the market’s appetite for up-and-coming layer 1 tokens. Global markets are performing well despite the Omicron variant continuing its rampant in the US, infecting more than 1 million people in one day.
In other news, Bitcoin hashrate reaches a new all-time high, Boston Fed seeks a project manager for CBDC development, and China’s digital yuan wallet goes live on iOS and Android app stores.
We’re continually improving our content, please reach out if you have ideas or would like us to recap another segment of the market.
- Curated by Marco Manoppo (@manoppomarco)
📰Market News
⎆Bitcoin Hashrate Reaches All-Time Highs
On Sunday night, the Bitcoin hashrate broke its all-time high record. The hashrate refers to the amount of computational power required by miners to mine new BTC and verify transactions on the network. The higher the hashrate is, the more difficult it is for malicious actors to attack the Bitcoin network.
⎆Boston Fed Seeks PM for CBDC Development
The Fed Boston is seeking a Director to lead the development of a CBDC. The LinkedIn post stated that the new Director will lead the efforts to build, manage, and test software for the potential CBDC. MIT’s Digital Currency Institute is working with the Boston Fed on the aforementioned initiative, and the research will be kept open source.
⎆China’s Digital Yuan Wallet Goes Live on App Stores
A pilot version of e-CNY, the mobile wallet for China’s digital yuan has been released on iOS and Android app stores in China. Chinese news outlets BlockBeats tweeted that users can now open an account with the wallet and manage their Digital Yuan. Only Chinese residents who are based in 11 cities (Shenzhen, Suzhou, Xiong’an, Chengdu, Shanghai, Hainan, Changsha, Xi’an, Qingdao, Dalian, and the Winter Olympics area) are eligible for the digital wallet.
👨🏻💻Decentralized Finance (DeFi)
Yearn Passes New Tokenomics, Rewarding YFI Stakers With Up to $35M/Year
Market Action: Curve and MakerDAO Lead Rebound from December Selloff
Grayscale Rebalances DeFi Fund Dropping Bancor (BNT) and UMA
U.S. Orders DeFi Platform Polymarket to Pay $1.4M
DeFi Startup Earnity Accused of IP Fraud in Cred Bankruptcy
Cosmos-Based Exchange Osmosis Crosses $1B in Locked Value
Former First Lady Melania Trump Congratulates Bitcoin on 13th Birthday
🏛Governance - Active Proposals
Babylon Finance - BIP-7: Mining Adjustments
🦮NFT & Metaverse
LinksDAO NFT Sale Books First $10M Toward Buying an Actual Golf Course
Ethereum NFT Market Soars in First Days of 2022
South Korean Presidential Candidate to Use NFTs to Raise Funds
Bored Ape Yacht Club Crosses $1 Billion in Total Sales
Top Sales (Last 24-h); Source: https://dappradar.com/nft
📈Deal Flow & Capital Raise
Play It Forward DAO - $6M Unknown Round
DarleyGo - Unknown Amount at Seed Round
WonderFi - $162M Unknown Round
WOO Network - $12M Series A
Vesta Finance - Unknown Amount at Angel Round
⚖️Regulatory Update
European Markets Regulator Seeks Feedback on Tokenized Securities
Estonia Regulator Says No Plans to Ban Crypto
The Boston Fed Is Hiring a New Director for Its CBDC Project
CFTC Fines Crypto Betting Service Polymarket $1.4M for Unregistered Swaps
📚Noteworthy Reads
Deepak Thapliyal’s Thread on $5.8M (1,542.069 #ETH) Mutant Ape
Redphonecrypto’s Read on 69 Theses
Lars Doucet’s Thread on Blockchain Gaming in 2022
Feel free to reach out to manoppomarco@gmail.com — feedbacks and constructive criticisms are much appreciated.