Web3 Watch: Buddy.tech staff steps again, relinquishing management of platform – BitRss – Crypto World Information
The SocialFi community good friend.tech has taken a major step this week, and seems to have deserted additional growth of its once-popular platform.
On Monday, good friend.tech introduced it was transferring the executive and possession rights of the platform’s code to a null handle. This successfully makes any future modifications to charge charges or functionalities unattainable.
Although good friend.tech will live on on the Base blockchain, this transfer is being interpreted by neighborhood members on X as a scarcity of want to proceed sustaining the undertaking.
The SocialFi platform first launched on Aug. 10, 2023. It subsequently undertook an unprecedented 100% neighborhood allocation of FRIEND tokens to customers in Could 2024, in distinction to most tasks the place a sure share of tokens are put aside for early buyers.
Put up-airdrop, FRIEND reached a peak of $2.86 however has since cratered to $0.09. Even with the introduction of recent options in a v2 replace, together with social golf equipment, the platform has struggled to revive buying and selling volumes, which reached multi-million greenback figures final September.
Buddy.tech has generated about $22.3 million in protocol charges, in response to Dune.
Osmosis goes cross-chain with Polaris portal
Osmosis DEX unveiled its newest product on Wednesday: Polaris, a cross-chain DEX aggregator.
Polaris desires to deal with the persistent drawback of liquidity fragmentation — or the “Great Chain Divide” as Osmosis co-founder Sunny Aggarwal calls it – by letting customers commerce any asset from any chain with their present wallets.
In contrast to liquidity aggregators, Polaris simplifies cross-chain buying and selling by providing a streamlined interface powered by multiparty computation (MPC) expertise. This interface handles advanced processes like token conversion, bridging, approvals and fuel token acquisition — all from customers’ present wallets.
“Osmosis is the foundation” and “our mission is to build the Interchain DEX,” Aggarwal tweeted.
This transfer marks a notable change in Osmosis’ longstanding strategic focus inside the Cosmos ecosystem.
The product can be formally revealed subsequent week at Solana Breakpoint 2024 in Singapore.
One fascinating stat:
- Stablecoins quantity make up about 70-80% of all worth that’s being settled on public blockchains in 2024, in response to analysis from Artemis.
Additionally of observe:
- In partnership with interoperability platform Wormhole, Worldcoin is bringing World ID integration to Solana.
- The Azuki NFT undertaking is introducing Anime.com, the place followers and creators can co-create and share in co-ownership of anime mental property on “AnimeChain.”
- ENS addresses at the moment are supported on PayPal and Venmo for crypto funds.
- The L2 gaming chain Immutable is partnering with Web3 distribution platform Portal.
- Wrapped bitcoin gamers make large strikes: Coinbase launched its personal tokenized bitcoin cbBTC, and BitGo is taking its WBTC product cross-chain with LayerZero’s OmniChain Fungible Token (OFT) normal.
- Onchain voting for DAOs degree up: Snapshot leveraged Starknet to launch its new onchain voting protocol Snapshot X, whereas Aragon leveraged ZKSync’s native account abstraction and LayerZero relays for its new cross-chain voting answer.
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