Kategorie: Crypto Markets

• Dymension is a blockchain startup building a network of easily deployable modular blockchains called RollApps.
• Dymension has partnered with Evmos Core Teams and Celestia.
• The three have launched the world’s first-ever IBC-enabled EVM rollup on testnet.

Dymension has announced its collaboration with Celestia and Evmos Core Teams to launch the world’s first-ever IBC-enabled EVM rollup on testnet.

Dymension has built-in rollups technology for scalability and it is creating an ecosystem of easily deployable and lighting-fast RollApps that any developer can use to build and deploy in order to scale their decentralized applications.

IBC-enabled EVM rollup

The IBC-enabled EVM RollApp will be deployed within Dymension’s initial testing ground “35-C”, as part of its long-term plan to establish and bootstrap a new ecosystem of IBC-enabled rollups. The deployment was made possible through close collaboration with the Evmos Core Development Team, as the RollApp uses Ethermint, an implementation of the Ethereum Virtual Machine that’s built on top of Dymension’s RollApp.

Commenting about the new RollApp, Dymension Lab’s CEO and Co-Founder, Yishay Harel, said:

“Excited to have worked closely with the Evmos team to achieve this milestone. With the world’s first IBC-enabled EVM rollup now deployed on testnet, we’re one step closer to bringing scalable and interoperable blockchain solutions to the wider community. This is just the beginning of our journey, and we’re looking forward to continuing to push the boundaries of what’s possible with EVM-based technology.”

The new EVM RollApp utilizes the EVMOS token as its gas token and updates its state to the Dymension Hub and posts data to Celestia’s “Mocha” testnet.

In addition, the new RollApp will feature a Uniswap V2 fork and a bespoke frontend, as part of a proof-of-concept to demonstrate how anyone can deploy their own RollApp and host EVM dApps. Developers will be able to fork any EVM-based dApp and deploy it on the RollApp using Dymension’s technology.

In addition, since Dymension’s RollApp is IBC-enabled it can natively connect to the Cosmos ecosystem of the IBC blockchain.

The post Dymension and Evmos Core Teams launch first IBC-Enabled EVM Rollup appeared first on CoinJournal.

• Helium successfully migrated to Solana Network last week.
• More than six billion IOT tokens have been minted since Helium migrated to Solana.
• IOT Token surged by 370 earlier today to hit a daily high of $0.003927.

Helium IOT (IOT) token surprised a majority of crypto investors today after surging by more than 370%. Despite a slight retracement, the token was still green trading at $0.00206, up 33.59% at press time.

Today’s IOT token price surge is attributed to last week’s successful Helium migration to Solana Network which has resulted in more than six billion IOT to be minted.

Protocol token of Helium’s internet-of-things network

Most are conversant with Helium’s native token, HNT, which has also been performing quite well over the past few days after the migration.

Helium has another token, the Helium IOT, which is the protocol token of Helium’s internet-of-things network. The Helium IOT is mined from Helium’s hotspots, which is the hardware infrastructure behind the IOT network.

Helium IOT is backed by the HNT token and can always be converted to HNT, with the redemption rate being algorithmically set by its treasury swap smart contract.

According to data from Solana’s block explorer, there are about six billion IOT tokens in circulation supply out of the maximum supply of 200 billion tokens.

The IOT token also received another boost after Solana-based decentralized-finance (DeFi) protocol Kamino Finance said it had opened two Helium vaults to allow investors to stake their IOT and HNT tokens for a yield.

The post Helium’s migration to Solana sends IOT token price through the roof appeared first on CoinJournal.

• Merlin is an Ethereum-based decentralized exchange (DEX) which uses zero-knowledge sync (zkSync).
• The DEX has lost more than $1.8 million in a liquidity pool hack.
• The hack took place barely hours after smart contract security firm CertiK audited the DEX’s code.

Ethereum-based decentralized exchange (DEX) Merlin woke up to bad news on Wednesday morning after a hacker(s) drained the DEX $1.8 million in a liquidity pool hack. The hack happened during a public sale of Merlin’s native token MAGE.

The hacker(s) stole several cryptocurrency assets including Ethereum (ETH), USD Coin (USDC), and other illiquid tokens.

CertiK had audited Merlin’s code

A few hours after the hack, security firm CertiK tweeted saying that it was investigating the incident to understand its impact on the community. It also said that its initial findings suggest that it could have resulted from an issue with a private key management meaning it was hack and not an exploit as widely thought.

CertiK conducted an audit of Merlin’s code on April 24, 2023, and recommended that Merlin improves its “centralized roles to the decentralized mechanism like multi-signature wallets to enhance security practices.” It also asked Merlin to implement a timelock feature with a latency of at least 48 hours to avoid a single point of key management.

CertiK also promised to collaborate with appropriate authorities in case anything came up.

CertiK and zkSync Era to compensate lost assets

While urging the hacker, who CertiK believes is a rogue developer, to return 80% of the stolen funds, the security firm offered a 20% white hat bounty to the hacker.

In a statement to a renowned media outlet on April 26, CertiK reiterated it is investigating the exit scam and has also enlisted the remaining Merlin team to initiate the compensation plan. The firm said:

“CertiK is exploring a community compensation plan to cover the ~$2M of user funds lost in the Merlin DEX rug pull. Initial investigations indicate that the rogue developers are based in Europe, and we are working with law enforcement to track them down.”

CertiK also noted that private key privileges are “committed to assisting impacted users” notwithstanding that they are outside the scope of a smart contract audit.

The post CertiK and zkSync Era plan to compensate Merlin hack victims appeared first on CoinJournal.

• Solana users will soon be able to interact with the network through a ChatGPT plugin.
• Users can use the plugin to check wallet balances, transfer Solana-native tokens, and buy NFTs.
• Developers are also encouraged to test using the plugin to retrieve on-chain data.

At press time, SOL price was up 7.33% 34 hours after Solana announced through a tweet that “Solana Labs has created an open-source reference implementation for a ChatGPT plugin that lets users interact with the @solana network directly from ChatGPT.”

(1/2) Solana Labs has created an open-source reference implementation for a ChatGPT plugin that lets users interact with the @solana network directly from ChatGPT.

Users will be able to check wallet balances, transfer tokens, and purchase NFTs once ChatGPT plugins are available. pic.twitter.com/08z1IX76zJ

— Solana Labs (@solanalabs) April 25, 2023

The news comes two weeks after Solana unveiled yet another achievement, the crypto-first ‘Saga’ android phone, which will be available for customers to purchase from May 8. Solana Network has seen increased activity over the recent past causing the price of its native token SOL to rise by more than 11% in the last 30 days.

Solana ChatGPT plugin use

The open-source reference implementation for a ChatGPT plugin marks Solana’s entry into the world of artificial intelligence (AI). Announcing the plugin, Solana Labs noted that it would allow users to interact with the Solana network directly from OpenAI’s ChatGPT.

Since its launch in November 2022, ChatGPT has quickly attracted global popularity mainly because of its AI-powered chatbot, which generates sophisticated responses to any request. In the wake of the ChatGPT, several other companies have started leveraging AI technology including players in the crypto sector as they seek to enhance user experience.

Besides allowing users to check wallet balances, transfer Solana-native tokens, and buy non-fungible tokens (NFTs), the ChatGPT plugin will also allow developers to build AI-powered applications on the Solana network.

Grants to AI developers

Solana Foundation also announced that it will be allocating grants to its ecosystem teams building AI tools on the Solana blockchain.

According to the foundation, the teams or individuals will be able to seek from $5, 000 to $25,000 grants from a $1 million fund.

The post SOL price surging after Solana ChatGPT plugin unveiled appeared first on CoinJournal.

• iZUMi Finance (IZI) price dropped over 15% amid massive profit taking.
• The dump followed the token’s listing on major crypto exchange KuCoin.
• But while price could fall below $0.030, the cryptocurrency’s strong ecosystem growth could see increased IZI demand and aid price uptick down the road.

iZUMi Finance (IZI) price fell more than 15% early Wednesday as the cryptocurrency’s market defied broader crypto prices outlook. IZI traded to lows of $0.032 as sell pressure mounted following the coin’s listing on major crypto currency exchange KuCoin.

The dump is likely a “sell the news” scenario as the price of iZUMi Finance rose exponentially over the past few days. This after KuCoin announced it would list the native token of the multi-chain decentralised finance (DeFi) protocol.

Even with today’s dip, IZI/USD was still trading more than 26% up in the past seven days and over 280% up in the past two weeks.

iZUMi Finance price: sellers in control for IZI/USD

While current price outlook suggests sellers might push IZI lower, the cryptocurrency is poised at a horizontal demand zone that has helped bulls for much of April. That suggests the profit taking could give way to new upside momentum.

As for immediate price outlook, IZI/USD is likely to trade lower if bulls fail to keep $0.030. The hourly chart shows the token is trending towards the oversold territory though and could thus be due an upward flip should the $0.02 base hold. Otherwise, a dip to $0.011 could happen.

A look at Izumi Finance’s network performance shows decent growth in total value locked (TVL). According to data on DeFiLlama, the TVL has risen sharply in the past 10 days – from under $2 million to over $25 million as of 26 April 2023.

The DeFi protocol’s products iZiSwap, LiquidBox and DAO veNFT among others are also seeing greater uptake across the market. Indeed, the platform announced on Wednesday that it had closed a $22 million financing round for the on-chain order book iZiSwap Pro.

The iZiSwap recently launched on zkSync Era, a future-proof zkEVM network helping to scale the Ethereum blockchain.

Other than the KuCoin, iZUMi has also struck key partnerships with MEXC Global, Bybit, Woo Network, and BitDAO. iZUMi also has a security partnership with auditing platform secure3io.

Building a strong platform amid the network pillars could inform long term demand for IZI and aid its price.

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