Join us live for another DeFiChain Community 𝕏 Space Project Spotlight, with DEX Trading Live

🎙️ With DEX Trading Live
🗓️ Tomorrow: 16th July 2024
⏰ 15:30 (CET) // 21:30 (SGT)

Set a Reminder with the Link below 👇
https://twitter.com/i/spaces/1ypKdpRbXWgKW

Masternode Voting Round – July

The voting round has concluded! The core team will now examine the approved proposals over the next week. Further updates will be shared in due course.

Check out the results here:
https://defiscan.live/governance?status=approved&type=all

Birthday Research is discontinuing active support for Quantum Bridge.

Birthday Research is moving it into maintenance mode and will soon open-source the code for anyone to run, allowing for greater flexibility and decentralization as anyone can be empowered to operate their own bridge.

More Information:
https://x.com/BirthdayDev/status/1813165248980869335

Join us live for another DeFiChain Community 𝕏 Space Project Spotlight, with DEX Trading Live

🎙️ With DEX Trading Live
🗓️ Today: 16th July 2024
⏰ Right now: 15:30 (CET) // 21:30 (SGT)

Join us Live with the Link below 👇
https://twitter.com/i/spaces/1ypKdpRbXWgKW

Monday, the DeFiChain Labs engineering team held their monthly Tech Sync, providing updates on the current projects and initiatives the team is tackling.

We’ve summarized the key updates here:
https://blog.defichain.com/defichain-labs-tech-sync-july-2024/

Project Spotlight: DEX Trading Live

DEX Trading Live strives to become the most comprehensive learning resource for trading on DeFiChain’s decentralized exchange (DEX).

We recently sat down with the team to learn about their vision and future plans.

Find out more:
https://youtu.be/26JD3rETYZE

With the DFIP "Re-peg and re-collateralize the dToken system as deterministically and effectively as possible, without permanent expropriation" approved, the first part regarding the fee changes to the pools are implemented.

More Information:
https://www.reddit.com/r/defiblockchain/s/zcfq7uWEtu

🚀 The DeFiChain Weekly Update is Here!

Here’s what’s been happening in the DeFiChain ecosystem this week:

✅ DeFiChain Masternode Voting Round – July
✅ DeFiChain Labs Engineering Sync
✅ What Are Crypto Bridges and Why Are They So Vulnerable?
✅ Project Spotlight: Dex Trading Live
✅ Ecosystem Project Updates

All these are covered in our weekly update blog below 👇
https://blog.defichain.com/weekly-update-voting-round-engineering-sync-project-spotlight

Project Spotlight Podcast

If you have missed any Project Spotlight episode, you can catch up on all the latest updates and insights on DeFiChain here:

🎙️ Spotify: The DeFiChain Podcast
https://open.spotify.com/show/4Vlp7oR4O9KD6TpSMhcPEr

Project Spotlight: DEX Trading Live

DEX Trading Live strives to become the most comprehensive learning resource for trading on DeFiChain’s decentralized exchange (DEX).

We recently sat down with the founders to learn about their achievements since our last spotlight.

Find out more in the blog below:
https://blog.defichain.com/project-spotlight-dex-trading-live-2/

Promote Your Project on DeFiChain's Project Spotlight

DeFiChain's Project Spotlights highlights innovative projects building on the DeFiChain MetaChain layer, giving them the exposure they deserve.

If you're developing on DeFiChain and want to be exclusively featured, don't miss this chance!

Get in touch with us and showcase your project to a broader audience.

🚀 The DeFiChain Weekly Update is Here!

Here’s what’s been happening in the DeFiChain ecosystem this week:

✅ DeFiChain Masternode Voting Round – July
✅ Project Spotlight: Dex Trading Live
✅ Promote Your Project on DeFiChain's Project Spotlight
✅ Ecosystem Project Updates

All these are covered in our weekly update blog below 👇

https://blog.defichain.com/weekly-update-dex-trading-live-project-spotlight-and-more

Understanding Stock Splits and Their Impact on DeFiChain Users

Over the past year, numerous companies have announced stock splits. Companies often choose to split their stocks to make their share prices more appealing to investors.
It's crucial to implement these changes accurately on DeFiChain.

Discover how this process is managed on DeFiChain in our latest blog post linked below.
https://blog.defichain.com/stock-splits/

MicroStrategy recently announced a major change for its shareholders — a 10-for-1 stock split set to occur on August 7, 2024.

This event will have notable repercussions for traditional market investors as well as those engaged with decentralized finance (DeFi) platforms, particularly DeFiChain, where dMSTR tokens can be traded and invested into various products.

Find out what that means for DeFiChain users in the blog below 👇
https://blog.defichain.com/microstrategy-stock-split-and-its-implications-for-defichain/

Project Spotlight: Crypto Factor

Crypto Factor is the ultimate launchpad for aspiring crypto entrepreneurs. By offering a comprehensive suite of tools and resources, it demystifies the process of bringing a blockchain project to life.

Find out more about Crypto Factor and its achievements so far in the blog post below 👇
https://blog.defichain.com/project-spotlight-crypto-factor-2/

Upcoming Special-DFIP Vote - Eliminate the 0.5% Additional Fee for dToken Swaps

An important Special DFIP is up for vote soon. Let’s break down the proposal to eliminate the 0.5% additional fee for dToken swaps on the native DEX.

On July 18, 2024, a 0.5% fee was added to dToken swaps as part of the “Re-peg DFIP.” This increased swap fees to 0.7% for normal swaps and 1.4% for composite swaps.

The fee’s purpose? To burn algo tokens and potentially activate a kill switch if DUSD traded above 95 cents consistently. However, things didn’t go as planned.

Despite reduced fees in DUSD/stablecoin pools, we’ve seen a drastic drop in DUSD price. The kill switch is unlikely to activate, and liquidity has taken a hit. It’s time for a change!

The proposal: Remove the 0.5% swapping fee for all dToken pairs immediately upon approval. This move aims to boost trading volume and restore competitiveness to our DEX.

Benefits include:

👉 Reverting to a market-based fee structure
👉 Minimizing impact on projects like Javsphere’s TradeX & DexTrading Masters
👉 Preserving liquidity provider earnings
👉 Avoiding a lose-lose situation for the ecosystem

Want to dive deeper?

More details and the ongoing community discussion can be found on Reddit. Join the conversation and share your thoughts here:
https://www.reddit.com/r/defiblockchain/comments/1efsvsr/sdfip_eliminate_the_05_additional_fee_for_dtoken/?share_id=au46vRI918kv8bzFVc6Wd&utm_content=2&utm_medium=ios_app&utm_name=ioscss&utm_source=share&utm_term=1

Your vote matters! Keep an eye out for the voting dates and make sure to participate. Let’s work together to keep the DeFiChain ecosystem thriving!

🚀 The DeFiChain Weekly Update is Here!

Here’s what’s been happening in the DeFiChain ecosystem this week:

✅ MicroStrategy Stock Split and Its Implications for DeFiChain
✅ Project Spotlight: Crypto Factor
✅ Upcoming SDFIP Vote - Eliminate the 0.5% Additional Fee for dToken Swaps
✅ Ecosystem Project Updates

All these are covered in our weekly update blog below 👇
https://blog.defichain.com/weekly-update-mstr-stock-split-project-spotlight-special-dfip-and-more

Understanding Crypto Bridges under MiCA Regulation

This article is part of our ongoing series about crypto bridges, building on our previous discussion about custodial risks and various other attack vectors:
https://x.com/defichain/status/1813492033534706023

Crypto bridges are crucial for interoperability between blockchains. However, under MiCA (Markets in Crypto-Assets Regulation) and similar regulations, these bridges may fall under various regulatory obligations depending on their structure. Let's explore the key considerations.

In standard bridge implementations, crypto-assets on the source blockchain are often held in custody, even through smart contracts. This custody may qualify as a crypto-asset service under MiCA if it involves safekeeping or controlling assets on behalf of third parties.

Key question: Is the custody function a service by a crypto-asset service provider (CASP)? If yes, it meets MiCA's criteria for regulatory oversight. This aspect has been widely debated and needs careful assessment.

When bridging, new crypto-assets are often issued on the destination chain, representing assets on the source chain. This issuance typically doesn't carry major obligations unless it involves public offerings or certain token types like asset-referenced tokens (ARTs) and E-Money Tokens (EMTs).

Issuing EMTs that reference official currencies of EU Member States is deemed a public offering under MiCA, triggering specific regulatory requirements. This will be a key area to watch in the evolving DeFi landscape.

If issuance is automated via smart contracts without identifiable control, MiCA's Titles II, III, or IV might not apply. This hinges on the interpretation of what constitutes a non-identifiable issuer.

Bridges often facilitate transfers between different blockchains. If these transfers are done on behalf of another party, they may be considered a transfer service under MiCA, which has specific regulatory implications.

If bridging involves a swap or exchange, and a third party is involved in order execution, this may constitute reception and transmission of orders under MiCA. This adds another layer of regulatory scrutiny.

Known as brokerage, if a CASP executes buy/sell orders on behalf of clients during bridging, this could be a regulated activity. It combines order reception and execution, requiring careful regulatory compliance.

If bridging results in a different crypto-asset, and involves the conclusion of purchase/sale contracts using CASP’s proprietary capital, it falls under the exchange of crypto-assets service. This is another critical regulatory aspect.

Navigating MiCA regulation is complex for crypto bridges, requiring thorough analysis of custody, issuance, transfer, and exchange activities. It is anticipated that an increasing number of crypto bridges will need to adapt their business models in the near future to remain compliant with MiCA regulations.

Commencing 7 Aug, 2024, Bake will no longer mint new dCryptos.

The change is due to regulatory reasons and affects all dCrypto assets, including dBTC, dETH, dUSDC, dUSDT, dLTC, dEUROC, dDOGE, dBCH, dMATIC, dSOL, dSUI, and dDOT.

This does not affect the current dCryptos that have already been issued and the current holders, they can be redeemed as usual. Please also note that dCrypto swaps will be discontinued, and we will no longer accept new entries for Liquidity Mining and YieldVault.

Thank you for your understanding.