Infinity Weekly: Wake me up When September Ends

Issue 15 of Infinity Weekly, a Newsletter for INFINISWAPPERS

Infinity Weekly: Wake me up When September Ends

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

*Price data as of Aug 6th, 12 pm EST

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

Space Adventures: The DFINITY Foundation will be hosting a series of Twitter Spaces featuring Supernova Hackathon winners. The hackathon, which boasted one of the largest prize pools in the blockchain arena, brought attention to some truly innovative web3 dapps, such as the community storytelling platform Kontribute. This series will be ongoing through the entire month of August.

Test Drive: Direct Bitcoin integration is closer than ever. The BTC/ICP testnet integration is now online and ready for developers to begin building! The mainnet will use the same API as the testnet so devs can pre-build their canister smart contracts in anticipation for when direct integration goes live. You can read more about this exciting news on the DFINITY dev forum here. Additionally, threshold ECDSA Beta is now live, meaning more things can be built in preparation for future use cases, such as Ethereum integration.

Talk To Me: Social media on the Internet Computer is getting more sophisticated every week. From DSCVR’s newest UI updates to the easy implementation of self-monetization options on DSocial, it’s clear that the IC has the most usable social networking dapps in all of web3. OpenChat, a messaging dapp running fully on chain, recently implemented a “reply in thread” feature, making conversation threads possible. OpenChat already has novel features such as the ability to send ICP directly in chat—this is what the future of messaging looks like!

Bird Dogging: While those of us in the Internet Computer ecosystem may use on-chain social media dapps every day, the larger crypto community does not. This means that (at least for the time being) news announcements and bigger threads of conversations are often held on Twitter. It can be overwhelming to keep track of everything, however, which is why the Dogfinity team created a Twitter bot that compiles the top tweets every Monday. Now you can keep up with the hottest topics without having to stay glued to your screen.

This Week in Our Blog

🚩We at Infinity Swap intend to deliver the best possible DeFi experience in all of web3, not just the Internet Computer ecosystem. Our world-class team of devs are are working diligently to build a secure and intuitive-to-use platform. Read about what you'll soon be able to do and get excited!

What Can I Do With InfinitySwap When It Goes Live?
InfinitySwap is the largest decentralized exchange coming to the Internet Computer. A decentralized exchange, commonly called a “DEX,” is a fully on-chain cryptocurrency exchange. This means no centralized companies are involved, and users are entirely in charge of their money at all times. With Inf…

🚩This is one partnership you definitely want to read about: Infinity Swap and Relation, a major project that raised seed round funding with a $20 million valuation. Relation is a multi-chain solution for web3 social graph infrastructures.

InfinitySwap Forms a Strategic Partnership with Relation
InfinitySwap and Relation have announced their intention to collaborate on a variety of different levels in order to further the development of the Internet Computer ecosystem. Relation is one of those projects that is building on the IC that makes you sit up and take notice. As they explain in

🚩 It seems like there's a new bridge hack every other week. Over $2 billion dollars have been lost in this year alone--and we're only in August! Read our article to understand why this is such a common problem and how the Internet Computer will solve the bridging dilemma once and for all.

Bridges to Nowhere- Why Bridges get Hacked and how the IC Will Solve the Bridging Dilemma
Over the last year, many blockchains have sprung up, taking inspiration from the Ethereum platform. These blockchains copy Ethereum’s code, making changes depending on how they intend to differentiate themselves. Some offer lower fees, others have different governance structures, and some have diffe…

🚩We are pleased to announce a partnership with Yumi, an NFT marketplace that has been gaining the trust and enthusiastic support from the entire ICP community. They've already incorporated our Infinity Wallet, and we will be working together to tokenize the Shiku metaverse, a virtual immersive platform that will be directly integrated with Yumi.

InfinitySwap Forms a Strategic Partnership with Yumi Marketplace
InfinitySwap and Yumi have announced their intention to collaborate on a variety of different levels in order to further the development of the Internet Computer ecosystem. This now means that InfinitySwap wallets have been integrated with all major Internet Computer NFT marketplaces. Introduction t…

NFT Market Snippets

🎨When an NFT project has its public sale, we always call it a launch, but perhaps the Pineapple Punks launch has given new meaning to the term. The collection already has more than 50k ICP in trade volume in under one week, and the NFTs themselves were just revealed on Wednesday. As of Saturday, 6 August, the floor price was 16.98 ICP, well more than double the public sale price and over three times the Proof of Humanity (MODCLUB) whitelist price.

🎨 Yumi marketplace launched their August Art Festival this week with several projects going live and a Twitter space to have developers from some of the collections speak regarding trends in NFTs. Some of the trends mentioned included metaverse collaborations between projects and AI art. VRSTL dropped their latest collection, PRP-KIX, as a part of the art show and sold out immediately. Collections with ongoing sales include Art of Life (real handmade paintings from a Swiss artist converted into 3D NFTs), R.o.s.e.s., Nauts CC (cloning chambers from the Nauts World GameFi project), and OBJCT. More will launch over the course of the month.

🎨 Airdrops have been landing left and right in the Internet Computer ecosystem and have met with varying degrees of acceptance. Some of the recently airdropped collections include Dionysus’ Masks (photographer/artist Oli), Pyramidion: UFO (THOTH JudgementDAO), the Calavera Collection (Taco NFTs), and Motoko Pinatas (Taco NFTs) on Entrepot; Mecha Drip (Martian Drip), World Epoch, and IKUWAYO (IKUZO) on CCC; and THE CLUB (Drakon/THE EGGs), Brando’s Friends, ICPUZZLE REWARD (ICPuzzle), Yumi NFT Art Festival Badge (Art Festival AMA POAP), and Yumi Badge (Supernova Hackathon POAP) on Yumi.

Around The World

⛰️ A Slippery Slope: The SOL community was sent into a panic on August 2nd when hot wallets were being drained of crypto assets, seemingly inexplicably. Although many of the working theories revolved around the possibility of the Solana network being compromised, the truth was far more shocking. According to blockchain auditing firm Otter, the hack was the result of Slope wallet sending their users' seed phrases to a centralized database unencrypted. More than $4 million worth of crypto was stolen. The number of wallets affected was over 9000.

🎭 Who Are You?: More bad news for Solana. It turns out that one man, posing as 11 different devs, was 75% of Solana TVL (Total Locked Value). 20-year-old Ian Macalinao created a network of interconnected DeFi protocols, double-counting value and falsely inflating Solana volume as a result. Ian and his brother created a coder club dubbed “Ship Capital” and built out an entire DeFi ecosystem with his own AMM, Saber, which served as a liquidity provider and anchor.

Ship Capital had many “friends": 0xGhostchain, who created Cashio; Goki Rajesh, builder of multi-signature wallet Goki; Larry Jarry from mining rewards aggregator Quarry; Swaglioni, the “grandmaster” of governance platform TribecaDAO; and of course Surya Khosla from Sunny Aggregator, Saber’s yield farm.

🪨 Solid as a Rock: BlackRock, the largest investment management company in the world, announced that they would be partnering with Coinbase to provide an avenue for institutional investors to purchase Bitcoin and other cryptocurrencies. Coinbase Prime will allow Aladdin, BlackRock’s institutional portfolio management platform, access to crypto trading, custody, prime brokerage, and reporting capabilities. BlackRock holds more than $8 trillion under their management. News of the partnership led to an immediate 15% jump in Coinbase stock price.

🍴 Fork It: Not everyone is happy about the upcoming Ethereum merge, which will change the network’s validation method from proof-of-work to proof-of-stake. Chandler Guo, a prominent Ethereum miner, launched a campaign last week to gain support for ETHW, a version of Ethereum that will continue to use the proof-of-work model. Crypto exchange Poloniex announced on August 4th that it would be listing ETHW next week, showing support for the forked coin. Justin Sun, founder and CEO of Tron, who is a major Poloniex investor, retweeted Poloniex’s announcement to iterate his personal backing of the endeavor.

Worth Listening to

By the Numbers:

249,915,798 ICP

Circulating ICP supply (as of 8:30 EST, Aug 7th,2022 - dashboard)

1,515,263 ICP

Total NFT Trading Volume (as of 8:30 EST, Aug 7th ,2022 - nftgeek)

Weekly Meme

A Matter of Opinion: Wake me up when September ends: InfinitySwap Editor

Earlier this week, Dominic Williams was on fine bullish form, tweeting the following:

This is the kind of messaging that helped to onboard me into the ecosystem before Genesis and that generates the most returns and interest. Not to mention, Waiting for Godot by Samuel Beckett happens to be one of my favorite plays! :)

September indeed does promise to be a huge month for the IC, not least because here at InfinitySwap we expect to launch our Liquidity Bootstrap Pool AMM, which is the first to support the DFINITY endorsed ICRC1 token standard. With our wallet supporting Internet Identity, we have positioned ourselves to be a strong ally of the foundation and have an unshakeable conviction that we can coordinate to produce the next iteration of DeFi.

Soon we will begin a bi-weekly Twitter space and a bi-weekly AMA on Discord with our CEO and CTO answering community questions. More details will follow in the coming week as we finalize our plans, but we expect the first Twitter space to be on Friday and have lined up some special guests. We will also be setting up focus groups and rewarding those that participate with drops. Details on how to sign up will be announced in the coming couple of weeks.

Remember that community participation in all things InfinitySwap gives you the best chance to be added to our spreadsheet of community supporters who will be airdropped NFTs from 4 huge collections we have planned, and that means engaging on social media and spreading the good word about our project and exciting developments.

We have been going from strength to strength with our partnerships and are extremely excited and optimistic about what the coming months will bring. It takes time to build something of true value, but remember, patience is a virtue, and good things come to those who wait.

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*Disclaimer: While every effort is made on this website to provide accurate information, any opinions expressed or information disseminated do not necessarily reflect the views of InfinitySwap itself.