The third edition of our curated newsletter.
In today’s newsletter we look at:
- $600k NFT
- A16z investment into ETH technologies
- Aave & Balancer asset manager
- BAT prospective
- ERC20 approvals scamming
$600,000 Worth ‘Nyan Cat’ Flying Pop-Tart Meme
Bitcoin’s recent rally has lit up the interest in all kinds of crypto assets, and NFTs were clearly in demand too. A unique piece of crypto art – a digital rendition of the Nyan Cat meme – was just sold for about $590,000 in an online auction.
Network Fees vs Exchange Commission Fees
Whenever a blockchain gets overloaded, and that always happens when the interest in crypto picks, the network fees go high in price. Why does it happen, and how are network and transaction fees are different from each other? Read our blog post.
Investing in (Ethereum-Powered) Optimism
A16z, a Silicon Valley venture capital firm, decided to invest $25 million in Optimism. Optimism is an Ethereum Layer 2 scaling solution, aims to deliver instant transactions, scalable smart contracts, low fees and latency without compromising user experience. Backed by the team of talented developers, the platform will be ready for large-scale production later this year.
Aave & Balancer Team Up to Launch the Asset Manager
Balancer, a portfolio manager and liquidity provider, and Aave, a decentralized lending system, are working on a number of initiatives together. Recently they revealed their plans to launch a brand-new Balancer V2 Asset Manager. This tool will allow idle assets in V2 pools to earn yield on Aave in the most gas-efficient way and bring more capital efficiency to Balancer.
BAT Roadmap 2.0: Expanding
Crypto-powered web browser Brave has announced its Roadmap 2.0 promising a couple of exciting developments. In the near future, it is launching a DEX aggregator and integrating DeFi functionality to Brave’s wallet. Besides, the wallet will also feature NFT support. Expanding the utilities of the BAT token is one of the reasons behind these innovations. For the same purposes, Brave is planning on building the BAT support for e-commerce, VPNs, search engines, and file sharing.
Watch Out: Exploiting ERC20 Approvals
Make sure you trust who you are approving to spend your tokens! One of the standard functions allows third-parties to send tokens from your account on your behalf, and bad actors have learned how to exploit this. In a scam email campaign, they suggest a fake upgrade aiming to lower gas fees and get permission to withdrawing tokens from the owners’ address.
This is a weekly newsletter curated by Mercuryo team. We cover the most sparkling events in the industry and sharing more about our journey.