Infinity Weekly: Decentralized Mail

Issue 14 of our Weekly Newsletter for INFINISWAPPERS

Infinity Weekly: Decentralized Mail

Happy Sunday & Welcome to Infinity Weekly.  If this newsletter was forwarded to you, sign up here.

Price data as of July 30th, 12 pm

What's in Today's Email?

  • IC Ecosystem News
  • This Week in Our Blog
  • NFT Market Snippets
  • Around The World
  • Worth Listening to
  • By the Numbers
  • Meme Time
  • Weekly Opinion Piece

IC Ecosystem News:

DSCVR-ing More: Congratulations to DSCVR, one of the most used social media dapps on the Internet Computer! DSCVR recently raised $9 million in seed round funding, led by Polychain, an investment firm with a crypto-focused portfolio worth over $6 billion (Polychain has a history of investing in promising industry disrupters, including InfinitySwap).

Other major investors included Upfront Ventures, Tomahawk VC, Fyrfly Venture Partners, Shima Capital, and BDMI. We are thrilled to see another IC team recognized as potential web3 power players. Read this TechCrunch article for more details.

Mapping the Future: DFINITY's July update on the IC roadmap is now out! Though there were minor updates about topics like the SNS and the ICRC-1 token standard, the main news was on how the Foundation will be changing its roadmap approach:

Starting in 2019, paving the way to Genesis in 2020 and beyond, we defined milestones named after metals that bundled sets of features. For example, the Titanium milestone included features A, B, C, Chromium included D, E, etc. Going forward, we will drop the concept of milestones and instead maintain stack-ranked lists of features associated with domains.

-samuelburri (DFINITY forums)

You can find the full forum post here.

The First of Many: As we reported last week, DFINITY will host monthly global R&D calls open to the public. The first event was on the 27th, and you can watch the recording below. Stay updated on important community events like this by subscribing to our newsletter if you haven't already.

DSocial Gathering: DSocial, a video-sharing social media dapp, made Channel Analytics available for users on July 26th. This feature makes it easy for content creators to keep an eye on their video statistics, giving the platform similar usability to the likes of web2 giants such as YouTube.

DSocial also recently made it possible for its users to initiate Paid Subscriptions, allowing them to use the dapp as a Patreon alternative. Of course, unlike Patreon, DSocial offers the ownership and security that only a true blockchain-based dapp can provide.

This Week in Our Blog:

Privacy isn't just about anonymity; it's about ownership of your own data. Read our article on how the Internet Computer blockchain and its ecosystem of dapps help you safeguard your own digital footprints.

Understanding the Privacy Advantages of the Internet Computer Blockchain
All too often, people confuse anonymity on the internet with someone wanting to commit wrongdoing. The fact of the matter is that you deserve your privacy when you are on the internet. Apps and platforms are selling your personal data every day, and you aren’t getting even a fraction

NFT Market Snippets:

🎨 It’s Pineapple Punks week, with something happening nearly every day for the project. The airdrops were actually sent out on Saturday, so when the canister is revealed a few hours before the private sale goes live, BTC Flower holders will be able to see their Pineapple Punks “seeds.”

The private sale begins at 2UTC on Sunday, and whitelisted wallets will have 24 hours to buy depending on whether they qualified for the 3.5 ICP price or the 5 ICP price. The secondary market opens on Monday the 1st for those who want to buy or sell blind. Then the NFTs are revealed on Wednesday the 3rd. The launch and secondary market sales will both be taking place on Entrepot.

🎨Astronautics HQ will be launching their first GameFi NFT on Monday, the 1st. It’s a cloning chamber for those who don’t want to have to risk their NFTs in-game. The cloning chamber will allow you to clone your Naut NFTs (not for sale yet) for in-game use.

There are only 800 cloning chambers, and they will sell for 8 ICP each (7 for whitelisted wallets) on the Yumi marketplace. Keep in mind that OGs from the project’s discord server will be whitelisted to buy two each in the private sale. At a future date, the Nauts themselves will sell for 4 ICP each (3 ICP for whitelisted wallets).

🎨 Cosmicrafts started their second round of crowdfunding on Friday. So far, they have reached 1260 of their 5000 ICP crowdfunding goal. The reward for a 10 ICP contribution is an NFT classified as an Artifact in the game.

Keep in mind that if the crowdfunding is not completed within 30 days, all of the ICP will be returned (except for your 0.0001 ICP transaction fee). If the crowdfunding is completed, you will receive your NFT and can hold it for the rewards specified or may choose to sell it on the secondary market.

🎨The much loved IC artist Oli has released 666 AI-generated assets, airdropped to wing holders and participants of many of the major OG projects of the IC. Ancient Greek mythology has it that there was a god called Dionysus, a bit of a party animal and lover of the arts. In the famous theatre tragedy called "The Bacchae," the Greeks called him the ‘many masked god.’ The assets Oli is sending out are loosely symbolic of the virtues the party people of antiquity used to worship, and he has called them masks".

Around The World:

🤔 Protection From Who, Exactly?: American SEC (Securities and Exchange Commission) Chairman, Gary Gensler, is often the subject of the crypto community's criticisms. His YouTube appearance on Thursday was no exception. The video, part of the SEC's "Office Hours" series, talked about the oversight agency's plans to regulate crypto exchanges and various ways to provide investor protection.

Gensler said that retail investors are "protected against fraud, manipulation, running, and the like" on traditional trading exchanges like Wall Street institutions, to the derision of many in the community who see crypto trading as a means to escape the corruption of the traditional markets.

🎢 Ups and Downs: July seems to be ending on a positive note as Bitcoin, and many other cryptocurrencies see a two-week rally. Notably, the price of ETC (Ethereum Classic, a fork of Ethereum) has almost tripled due to speculation surrounding the upcoming Merge. Whether this positive market action will extend into August is anyone's guess.

🇧🇷 Banking in Brazil: Banco Santader, Spain's largest commercial bank, confirmed that it will begin Bitcoin and Ethereum trading services for its clients in Brazil. They are also discussing the possibility of tokenizing traditional market assets such as debt securities. Santader is the third Brazilian banking entity to move towards embracing cryptocurrency; Nubank, Brazil's largest bank, and banking giant Itaú both made similar announcements earlier this month.

🔥 The Fall of Babel: Babel Finance, once dubbed as the Rising Star of Asian crypto finance, was one of the major CeFi (Centralized Finance) institutions that faced insolvency during the 2022 "Contagion" crash. The Hong Kong crypto lender suspended customer withdrawals last month, citing "liquidity pressures," and it has recently come to light that Babel lost over $280 million in proprietary trading with customer funds.

Orders from Babel's proprietary trading team were "not supported by any term sheets and thus were not recorded in system." Plus, the firm's wallet management team "released uncapped amount of funds" to trading accounts operated by its proprietary trading team.

-The Block

Shockingly, this is not the first time Babel has mismanaged their clients' assets. Leaked recordings from October 2020 suggest that the lender leveraged user funds inappropriately, leading Tether Limited (issuer of USDT) to intervene to save Babel.

Worth Listening to:

By the Numbers:

1,240,693 ICP

Size of NNS Community Fund (as of 12 am EST, July 31 ,2022 - dashboard)

1,449,670 ICP

Total NFT Trading Volume (as of 12 am EST, July 31 ,2022 - nftgeek)

Weekly Meme:

Weekly Opinion Piece - Advantages of Dmail- Why web3 email will be adopted on a mass scale

What is Dmail Network?

Dmail Network is a Web 3.0-based collaborative platform that integrates message communication, asset management, data storage, workspace, etc.

Eventually, Dmail will be a fundamental infrastructure tool and DID for users to enter into the Web 3.0 era and a bridge that links Web 2.0 users to easily use blockchain services.

Updates since Testnet:

The official launch of the Dmail testnet on June 1 wouldn't have been reached successfully without our great team and their ongoing efforts. The current version allows the interaction between Dmail and most mainstream web2 mailboxes, including Gmail, Outlook, Yahoo, Protonmail, QQ, Sina, etc. The number of emails sent and received exceeded 1 million within one month of being launched. For the address of the test network, please refer to here.

In terms of compatibility, the Dmail testnet has integrated the login of various wallets such as MetaMask, InfinitySwap Wallet, Plug and II, and supports the Web3 mailbox usage requirements of users on the Ethereum and IC chains. At the same time, Dmail has carried out three rounds of Pre-sale events, and more than 16,000+ users hold more than 28,000 Dmail domain accounts. Dmail will use all Pre-sale revenue on a Gas fee bearing user creation, storage, and transactions!

We are delighted to see that the progress the team has made so far is supported by our valuable users and recognized by relevant institutions. By the end of July, Dmail had received millions of dollars of support from more than 20 leading VCs!

The future roadmap:

Regarding Dmail's future roadmap, we will focus on improving mail usage efficiency, blockchain functions upgrade, multi-chain, and serving users:

  • To expand multi-chain, give priority to integrating BNB Chain, Solana, Polygon, Filecoin, and other chains;
  • To realize the characteristic functions of blockchain, including Asset Transfer, NFT PFP, DApp Library, NFT Market, etc.;
  • To continue to optimize the testnet security & stability & response speed;
  • To support sending and receiving more web2 mailboxes;
  • To realize SocialFi, allowing users to benefit from the process of using Dmail;

Why it'll be web3's answer to email- what are the advantages?:

First of all, email is the easiest web3 product to be implemented. Compared with other social products such as IM, email is a point-to-point communication, but other products involve the migration of the entire social network, which is quite significant in terms of user threshold.

It is also difficult for the current blockchain infrastructure to support the complete decentralization of instant messaging products; email products are lighter than other IM social products and can easily intervene with blockchain technology. Dmail mailboxes are currently wholly deployed on the blockchain, and only one wallet is needed to manage user mailboxes. Once users accept encrypted wallets, they can easily accept web3 mailboxes.

In line with that, Dmail is compatible with the product functions of Web2 and uses the technology of web3 to solve the defects of the old products. At present, Dmail can already complete information interaction with most web2 mailboxes. Due to blockchain technology's involvement, Dmail solves traditional mailbox information leakage, data attribution, and spa problems. Thus, Dmail is considered an inter-linkage from web2 to web3.

Thirdly, in the web2 era, the mailbox is already an Internet identity; in the web3 era, Dmail can still use the characteristics of the mailbox identity to exist as a user's DID (decentralized identity). Through Dmail, users can interact with various DApps, connect with friends, and enjoy the metaverse space together.

In addition, the unique asset management function of the Dmail platform can also help users to realize the accumulation and appreciation of encrypted assets in the web3 era and adapt to the economic incentive model of the web3 era. Regarding development progress, Dmail is the current mailbox DApp with the most web3 functions and the fastest development progress. This leads us to believe that Dmail can significantly onboard more users to the web3 era.

We are proud to have Dmail Network as a valuable partner and look forward to seeing its continued development in this space!

Connect with InfinitySwap

Twitter | Website | Telegram | Discord | Github

Twitter | Website | Telegram | Discord | Github

*Disclaimer: Note that cryptocurrencies can be volatile and speculation should not be construed as financial advice in any capacity. All opinions of the author are their own and do not necessarily reflect the opinions or position of InfinitySwap or its staff.