Bounce Newsletter 9/2
Welcome to Bounce Newsletter!
This is where you’ll find your weekly dose of all news from the Web3 world and beyond. From the freshest updates from Bounce Finance, to exciting project highlights and some of the most compelling auction news from around the world, we’ve got you covered. We’re here to keep you informed and engaged, transforming our newsletter into your one-stop-shop for updates. So sit back, grab your favorite drink, and join us as we dive into this week’s hot topics.
Bounce Finance Updates: Mutant English Auctions With $AUCTION Coming Soon
The Diamond Hands Necklace Auction, which commenced on August 25th at 2 PM UTC, successfully concluded on August 31st at 4:37 AM UTC. This auction marked the introduction of Bounce Finance’s latest innovation, Mutant English Auction, designed to benefit ALL participants. The initial floor price was set at 5 $ETH, and subsequent bids were required to exceed the previous bid by 3%. Every participant, except the final winner, earned APY within 24 hours after sharing in each 3% price increase between bids with the auctioneer upon the placement of higher bids. After a total of 89 bids, the final price of the Diamond Hands necklace amounted to 71.5022 $ETH, resulting in a total reward of 35 $ETH for all bidders.
During the Diamond Hands Necklace Auction, Bounce Finance generated 6 $ETH in platform fees, which were subsequently used to buyback and burn $AUCTION tokens. As a gesture of support for the $AUCTION community, all platform fees generated from future Mutant English auctions will contribute to the buyback and burn of $AUCTION tokens.
Furthermore, Bounce Finance is preparing to launch more Mutant English auctions empowering participants to bid and earn with $AUCTION tokens. These upcoming auctions promise to bring excitement and benefits to the $AUCTION community with Bid-to-Earn dynamics, further expanding the utility of the $AUCTION token.
In parallel, the dedicated Bounce team is diligently working on the three major updates previously announced. These updates encompass pre-auction activities tailored for curating whitelists, a toolkit designed to enhance token sales, and a Telegram bot designed to facilitate financial activities. Stay tuned for more details as these transformative developments progress.
Ethereum ‘Restaking’ Takes Shape as Next Big Trend in Blockchain Security
In a move shaking the crypto landscape, a novel concept called “restaking” is gaining traction. Restaking revolves around reutilizing the ether (ETH) tokens staked on Ethereum, one of the largest blockchains globally, for bolstering the security of smaller networks and applications. By reusing staked ETH tokens, blockchain developers can significantly reduce the costs associated with establishing their networks’ security, as they don’t need to assemble their own group of validators.
This innovation opens up the possibility for Ethereum stakers to generate additional income from their staked tokens. Currently, around 23.4 million ETH tokens, valued at $43 billion, are staked on Ethereum, with approximately 730,000 validators participating. EigenLayer, established in 2021, is a trailblazer in the field of restaking. EigenLayer’s protocol, deployed on the Ethereum network in June, simplifies the creation of projects by providing a trust network, thereby eliminating the historical challenges of bootstrapping such networks.
However, there are potential risks associated with restaking, including the imposition of penalties, known as “slashing,” on staked deposits. This dynamic could lead to conflicts of interest within the Ethereum community. Notably, Ethereum co-founder Vitalik Buterin has expressed concerns about the systemic risks restaking could pose.
EigenLayer’s restaking methodology extends Ethereum’s decentralized trust to other systems, enabling the pooling of security for various projects. This approach enhances the efficiency and security of new blockchain networks, facilitating cross-chain functionality and greater liquidity for decentralized applications (DApps). The burgeoning interest in restaking and EigenLayer’s success suggest that this trend may have a profound impact on the blockchain ecosystem.
Introducing Omni Overdrive: The Next Evolution in Omni’s Blockchain Infrastructure
Omni Labs introduces Omni Overdrive, a groundbreaking advancement in the Omni infrastructure stack. Building upon the success of Omni Origins, which facilitated over 1.5 million transactions and onboarded more than 150,000 users, Omni Overdrive marks a significant step toward blockchain interoperability and scalability.
This innovation introduces Ethereum Virtual Machine (EVM) functionality and a new infrastructure layer, enabling communication between rollups. Developers can now create DApps that function across multiple rollups, starting with Linea, Arbitrum, and Scroll. This enhancement eliminates fragmented liquidity, offering DApps access to a more diversified user base across various rollups.
Omni Overdrive makes it easier for users to participate by connecting their wallets, such as Metamask, to mint, transfer, and trade Uptrip Trading Cards as NFTs. Over 20,000 users have already registered, with more than 200,000 trading cards issued since the soft launch.
Omni’s collaboration with Collar Protocol, an innovative DeFi project, exemplifies the platform’s commitment to enabling projects to operate across rollups and access broader liquidity pools. Omni Overdrive represents a significant milestone in the blockchain community’s journey toward mass adoption.
Lufthansa’s Uptrip Loyalty Program Takes Off on Polygon
Uptrip, a loyalty platform developed by Lufthansa Innovation Hub in partnership with Miles & More, is now live on the Polygon Proof of Stake (PoS) network. Uptrip rewards travelers with NFT trading cards for their flights, offering unique collections and incentives, including business lounge vouchers and free miles.
Travelers can select from hundreds of cards, categorized by cities, airplanes, and special experiences. Users connect their wallets, such as Metamask, to mint, transfer, and trade Uptrip Trading Cards as NFTs. Over 20,000 users have registered, with more than 200,000 trading cards issued since the soft launch.
Lufthansa Group, which includes major airlines like Lufthansa, Swiss International Air Lines, and Austrian Airlines, boasts over 38 million members in its Miles & More loyalty program. The airline group joins a growing list of companies, including Adobe, Stripe, and Robinhood, building on the Polygon network.
Uptrip’s innovative use of NFTs and blockchain technology creates a bridge between traditional travel rewards and the emerging world of cryptocurrencies.
Staynex Collaborates with Arsenal FC: Auctioning Autographed NFT Jersey for Charity on DefiSports
Staynex is thrilled to announce a unique charity event with Arsenal Football Club, where an autographed team jersey will be auctioned as a physical Non-Fungible Token (NFT) on the DefiSports marketplace. This pioneering initiative combines sports, charity, and blockchain technology.
Fans and collectors can bid on a jersey signed by all players from the Arsenal team, represented as a unique NFT with a real-world counterpart. The proceeds from this auction will go to charity.
DefiSports aims to revolutionize the sports industry by merging sports memorabilia with blockchain technology. This NFT format guarantees authenticity and rarity, providing an irrefutable proof of ownership.
To participate, fans can visit the DefiSports marketplace and create an account. Bidding begins on August 28th at 8:00 PM UTC.
Staynex Arsenal F.C. encourages all fans to join this exciting event, demonstrating how football and blockchain can make a positive impact on society.
These developments in the blockchain and crypto space show the industry’s continued evolution and adaptability, with applications ranging from security innovation to enhancing travel rewards and supporting charitable causes. As the crypto ecosystem diversifies, it promises exciting opportunities for users and investors alike.
As the blockchain world unfolds, it echoes the wisdom of Heraclitus: “Change is the only constant.”
In these innovations, we glimpse the boundless potential of human creativity and collaboration.
With these transformative advancements, we conclude our exploration of the ever-changing blockchain sphere. Keep your eyes on the horizon, for this is a realm where the possibilities are as limitless as human imagination.
