ETH locked in DeFi is now sitting at over 2.4mil (a new ATH) 🚀
This will keep increasing into the future because we'll have:
-Increased awareness and access to DeFi/Open Finance
-More refined products & services
-Better integrations with apps
Ethereum is just getting started!
I'm a bit late to the party on this one but I'm super stoked to see that ETH Locked in DeFi hit an all time high of 2.369 million recently!
That's ~2.2% of ETHs entire supply fueling the Open Finance economy on #Ethereum# 🚀
The last week in crypto:
-@CFTC chairman says ETH is a commodity 🚀
-@VitalikButerin publishes new Eth2 research 📚
-@MakerDAO MCD goes live November 18th 🍔
-@metamask_io introduces web3 plugins 🦊
-@MyCrypto's new site enters beta 👍
Much more: https://ethhub.substack.com/p/ethhub-weekly-83
The last week in crypto:
-@InstaDApp raises $2.4M 💸
-@infura_io acquired by @ConsenSys 👍
-@a16z launches crypto startup school 👨🏫
-@MakerDAO's new 'Oasis Trade' is live 📈
-@UMAprotocol announces BitDEX 🤯
Much more 👇
Just a reminder: The upcoming Istanbul hard fork is *not* a contentious one - it is a scheduled protocol upgrade for Ethereum 😇
Learn more about Istanbul:
Want to stay updated on Ethereum scaling?
-Eth2: https://t.co/fnqrpgdDKv?amp=1 🚀
-General recap on layer 2: https://t.co/viqphIJOGr?amp=1 🤓
-State Channels: https://learnchannels.org ⚡️
-Plasma: https://plasma.group 🔮
-Zero Knowledge wizardry: https://t.co/bBs5oxBqh8?amp=1 🧙♂️
Ethereum flipped Bitcoin in daily fees today - yay 🥳
You know what's even more striking about this image? The fees paid on the other blockchains don't even come anywhere close to Bitcoin & Ethereum which signals to me that there is practically zero demand for these platforms.
10mil ETH staked gives a yearly issuance rate of 0.54%.
Burning 0.35% of the supply each year brings the effective issuance rate down to 0.19%.
Then throw in ETH:
-Locked in DeFi
-Paying state rent
Supply cap? Where we're going we don't need a supply cap 🚀
Awesome graphic from @TheBlock showing the many variations of Dai and how they relate to and interact with other protocols on Ethereum.
A brief summary of the last week on crypto twitter:
Eth2.0 progress: blazing
ETH price: rising
Ethereum total daily gas used (blue line) is currently at all time highs based on the 14 day moving average.#Ethereum#
"Santander has become the first institution to use a public blockchain to manage all aspects of a bond issue. The company used a token on Ethereum to represent the $20m debt issuance & settled it with another set of ERC-20 tokens representing cash held in a custody account."
Ethereum 2.0's current status:
Phase 0/Beacon Chain: Spec frozen, short-lived testnets live, expected launch 2020 😍
Phase 1/Shard Chains: Spec to be frozen soon™, testnets soon™, expected launch 2020 🔜
Phase 2/State Execution: Spec in heavy r&d, testnets & launch TBA 🤓
"Ethereum is the IBM of the smart contract blockchains: it may not be the 'best' technology, but it works well enough and has amassed a distribution advantage that will be hard to overcome by its competitors."
Did you know? There are 9 Ethereum 2.0 implementations that are being built?
1. Prysm (Go)
3. Artemis (Java)
4. Harmony (Java)
5. Shasper (Rust)
6. Lighthouse (Rust)
7. Nimbus (Nim)
8. Trinity (Python)
9. Yeeth (Swift)
Ethereum is an ideological Turing test complete blockchain.
-ERC20 Tether > Omini/Bitcoin Tether ✅
-WBTC > 锁定在闪电网络中的 BTC ⏲️
-ETH 的发行率 < BTC 的发行率 ⏲️
-ETH 的市值 > BTC 的市值 🔜
由于以下原因，ETH 只会越来越稀缺 🚀
-锁定在 DeFi 之中；
-锁定在 staking 之中；
-锁定在 DAOs 之中；
-遗失/冻结 (由于 bug 或意外发送等)
-当使用 ETH 支付状态租金费用而被销毁
-当使用 ETH 支付 gas 费用而被销毁 (EIP-1559)
忘记补充一点，协议级别的 ETH 的年增发率将继续减少，并且很可能在#Eth2.0#阶段稳定在<0.5%。