Top‌ ‌Crypto‌ ‌News:‌ ‌07/14

Today, Bitcoin underwent a sharp correction, but after a quick rebound, it is trading at $32,956. Meanwhile, the second-largest cryptocurrency, Ethereum, is trading close to $2,004.

Let’s find out some interesting crypto news in detail.

1 – Coinbase | Polygon Integration to Enhance Its Wallet

Coinbase has announced plans to integrate the Polygon network in its mobile app and extension. With this integration, users can enjoy Polygon’s faster speed with low transaction costs. Further, this will also help users to get access to dApps on Polygon.

Notably, users can connect their Coinbase wallet with the Polygon network by navigating the settings option within a few clicks. In addition, users can utilize the Polygon bridge to send any Ethereum tokens such as USDC, DAI, UNI, and more from the Ethereum mainnet to the Polygon network. Additionally, the team also has plans to integrate different Layer 2 networks both on mobile and web wallets in the near future.

2 – Uniswap v3 Launched Optimistic Ethereum Layer 2 Scalings in Alpha

Uniswap v3 has declared the launch of Optimistic Ethereum Layer 2 scalings in alpha. As per the blog, this alpha launch is a limited version of the full system. This will help developers to quickly address any issues that may arise.

As stated, the platform will support an initial throughput of 0.6 transactions per second during this alpha period. However, transactions on OΞ confirm instantly to avoid any pending or stuck swaps. The team also revealed that OΞ would offer ten times lower transaction costs. However, increased demand may push gas costs higher. Initially, only limited assets are launched, such as ETH, USDT, WBTC, DAI, and SNX, but more will be added in the near future.

3 – Coingecko | Big Time Collaboration for NFTs Giveaway

CoinGecko has collaborated with Big Time for an NFTs giveaway. As stated, ten lucky winners can win an exclusive Big Time-themed NFT by participating in this candy contest. To get eligible for this giveaway, the user has to purchase a CoinGecko candy code voucher.

The team also asked users to answer a few simple questions to increase their chances of winning. Big Time is a gaming platform dedicated to creating online adventures through space and time. Notably, this contest starts on July 14, 2021, at 00:00 EST and ends on July 26, 2021, 00:00 EST. More details regarding this Big Time NFTs giveaway can be found here.

4 – DAFI Protocol Unveils Its Native Bridge

DAFI Protocol reveals the development of its native bridge. As stated, this DAFI bridge will initially operate with Ethereum, Polygon, and Binance Smart Chain. Later on, DAFI’s partners will utilize this bridge as a service while adopting the smart synthetic dTokens. Further, this will operate to maintain the supply/demand of the DAFI token.

DAFI Protocol addresses various issues faced by the blockchain networks, and it aims to solve the problem of excess token supply. Consequently, this will enable the community to use ERC-20 $DAFI on other high-speed and low-cost networks. Besides this, different projects utilize DAFI Protocol to create their own dToken while DAFI safeguards these tokens against hyperinflation for the long-term stability of the network. Hence, this DAFI bridge launch will entice new users and expand its adoption.

5 – Lossless Unveils Wrapped Tokens to Safeguard DeFi Ecosystem

In the last bit of crypto news for today, we have Lossless declaring the launch of its wrapped tokens to safeguard the DeFi ecosystem. As stated, these wrapped tokens work on any ERC-20 tokens and offer a safeguard against hacks via a Lossless protection code. Impressively, it doesn’t have any upfront cost and a fixed percentage fee is taken from a saved hack only.

Interestingly, this code creates a pegged L-token version of the existing or newly launched tokens. In order to do any unethical activity, hackers need to unwrap the wrapped tokens first before changing them to another asset. White hat hackers and bots are on the lookout for any hacks impacting L-tokens. Such assets can then be frozen and then returned if foul play is proven. In addition, these features would increase the trust of token holders and projects, which will play a vital role in the global DeFi adoption.

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