After making a daily low of $50,113, Bitcoin is now trading at $52,255. Meanwhile, alts are looking strong with the second-largest cryptocurrency, Ethereum, trading close to $3,963.
Let’s review some interesting crypto news stories in detail for the day.
Injective Labs has announced an upgrade to add native IBC functionality. IBC (inter-blockchain communication) is a protocol that allows blockchains to connect with each other. IBC allows blockchains to interoperate, interchange assets and services, and connect without running into scaling issues.
Injective Protocol is a Layer 2 decentralized exchange protocol that provides a complete solution of decentralized derivatives and borderless DeFi without any restrictions. Notably, this upgrade takes place in the coming weeks. Hence, with this upgrade, Injective will help in cross-chain DeFi with Cosmos and its ecosystem.
Injective is ready for the IBC upgrade!
Over the next week, Injective validators will work to prepare for the Injective Chain upgrade with native IBC functionality.
We are now entering a era of cross-chain DeFi with @cosmos and the broader Cosmos ecosystem ⚛️
— Injective Labs 🪐 (@InjectiveLabs) September 5, 2021
Switcheo Labs has collaborated with Zilliqa to launch its NFT marketplace. As per the tweet, this NFT marketplace will call ZilSwap home. ZilSwap is a DeFi platform that controls the majority part of DEX users within the community.
Further, the NFT marketplace features ZilBridge, a cross-chain bridge that allows NFTs on Ethereum to be bridged over to Zilliqa and vice-versa. Additionally, the team also has plans to release a commemorative NFT collection named “The Bear Market” to symbolize this partnership.
Read all about it here 👇https://t.co/koIxntIFDR
— Switcheo (@SwitcheoNetwork) September 4, 2021
DeRace has declared its upcoming game launch on the Polygon chain (formerly Matic). This integration helps DeRace to enhance its gaming platform, which will launch in the planned timeline by the end of this year.
DeRace is an NFT horse racing ecosystem where users can participate in horse races. Users can also breed NFT horses, create their own NFT hippodrome, and earn lucrative rewards. Hence, this coalition helps DeRace users to utilize Polygon’s scaling solution. Consequently, this will empower users to perform high-speed transactions at a low cost.
By launching on @0xPolygon, DeRace intends to provide a seamless user experience to its community as well as low cost and high-speed transactions
👉 Learn more: https://t.co/RuoZAn1kaN
— DeRace (@DeRaceNFT) September 6, 2021
Step Hero has declared the launch of its staking and HERO syrup pools. As per the tweet, users can stake $CAKE to earn $HERO tokens on PancakeSwap. Further, the team has allocated a total of 320,000 $HERO tokens as rewards.
Step Hero is the first NFT fantasy-themed RPG (role-playing game) on the Polygon network. It combines NFT gaming with DeFi which allows users to enjoy playing, investing, and earning money simultaneously. As stated, this staking will start on September 6, 2021, at 9 am UTC. Notably, this distribution duration is for 60 days, which will start at the block height of 10674600. More details regarding this liquidity pool can be found here.
— Step Hero (@StepHeroNFTs) September 5, 2021
In the last bit of crypto news for today, we have Fractal announcing its testnet launch giveaway. As per the tweet, the team is giving an airdrop of 100,000 FCL tokens to the early adopters of the Fractal Wallet. In addition, these early adopters will get a chance to pre-test this wallet when it is officially launched.
The steps which are required to participate in this giveaway are: a) download the Fractal Wallet; b) sign up and open an account at Fractal; c) create, connect, and activate the Fractal Wallet; and d) then fill out the form and paste the Fractal Wallet address here. Overall, 202 winners will take home a combined total of 10,000 FCL every week.
📢 Testnet Lottery round 2 closed with a bang. Thank you so much for your passion. We’ll reach out to 202 lucky winners of the 2nd Round by email shortly.
🚀 Round 3 starts today, pls find more info here: https://t.co/mlijx7uBp5
— Fractal (@fractalprtcl) September 2, 2021
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