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- Exciting times for DeFiChain: Powerful partnerships and breakthrough updates
Exciting times for DeFiChain: Powerful partnerships and breakthrough updates
Patrick Hammel
July 03, 2023
In todays edition InTheMarket:
OpenDApps Cloud and DFI price
Nucocloud and DMC
DeFi Bets - Version 1 design released
DeFiChain makes it to 4th place
DeFiChain announcement of mainnet node software and hardfork date
Read time: 4 minutes
Hey,
Welcome to a new edition of the InTheMarket newsletter! There are exciting news and developments in the world of DeFiChain. Let's get started right away!
Discussion on the impact of OpenDApps Cloud usage on DFI price
Twitter discussion with ShadowsCrypto, the CEO of OpenDApps Cloud, provides key insights into how the use of his platform could affect the price of DFI. Here are the main points:
Monthly buying pressure: When a business requires payments in a blockchain's native currency (such as DFI for DMC), there is a steady buying pressure on the currency. The more customers the business has, the more of that currency needs to be purchased each month.
Potential selling pressure: There is the objection that salaries are likely to be paid in fiat or BTC, creating selling pressure on the native currency. However, the company cannot sell more currency than it receives for its services. So, in the worst case, the net impact on the price of the native token is zero.
Unmeasured TVL: Companies are likely to retain some native currency in their portfolio, contributing to unmeasured Total Value Locked (TVL).
Transaction Burning: If the blockchain implements transaction burning, a company will always generate a net settlement greater than 0, as both payment for services and sales for salaries burn tokens. For companies with many customers, this can lead to significant token burn.
Maintaining the blockchain without inflation: in a blockchain like DeFiChain, the largest percentage of rewards paid to miners currently comes from inflation. High business volumes can help the blockchain persist without inflation.
In summary, the more trades on the chain, the better it is, whether or not they contribute to the measured TVL.
Nucocloud, DeFiMetaChain and the road ahead together
I recently had the pleasure of speaking with Tobias Adler, CEO of Nucocloud, and look forward to welcoming him to my podcast InTheMarket soon. During our conversation, we touched on some very exciting points. You may be wondering, why is Nucocloud built on top of the DeFiMetaChain (DMC)? What exactly does Nucocloud do? And how does VanillaSwap fit into the picture?
First of all, what is Nucocloud?
Nucocloud is an innovative company that aims to revolutionize the world of cloud computing. It provides a decentralized cloud based on blockchain technology. This enables greater security, transparency and efficiency for users around the world.
But why did they decide to build on top of DMC? Well, DMC provides a robust and secure environment for rapid developments in the DeFi space by leveraging its construction on the Bitcoin network. This fits perfectly with Nucocloud's vision of a comprehensive multi-chain, cross-chain, blockchain platform. The integration of DMC further strengthens Nucocloud's existing capability.
The role of MetaChain
DMC's MetaChain, which launched its test network phase on June 10, 2023, brings a new dimension of innovation. Their smart-contract capabilities in a Turing-complete environment push the boundaries of what we can achieve together. This merger brings the recognized robustness and security of DeFiChain to Nucocloud's existing capabilities.
VanillaSwap and the future
Another exciting aspect is the collaboration between Nucocloud and VanillaSwap. Nucocloud is proud to be one of the first projects, if not the first, to list on VanillaSwap. This new decentralized exchange from VanillaSwap increases the accessibility and liquidity of Nucocloud's $NCDT token.
This means that you, as a user, will have even easier access to the $NCDT token and can make your participation in Nucocloud even easier. This collaboration marks significant progress towards a decentralized future with Nucocloud, DeFiChain and MetaChain.
In the future, you'll get more updates on this exciting project and our new partnerships.
DeFi Bets - Version 1 design released
An exciting project on the DeFiMetaChain (DMC), DeFi Bets has recently released a new update. Following my latest podcast episode where I had the chance to talk in depth about DeFi Bets with Lars Berge, a member of the DeFi Bets DAO, they have now revealed their design for version 1.
Now for the exciting news: DeFi Bets has unveiled the design of their first release!
This marks an important step in the development of the project. In addition, DeFi Bets asked the community for feedback on the design, and there were some notable suggestions:
A live chart of the asset being bet on to give users a real-time overview of price movements.
Implementing engaging sounds when bets are placed to make the user experience more memorable.
Using a depth of field effect so that more distant coins appear slightly out of focus. This would draw user focus to the most important UI elements.
An animation of the coins to create a more modern and lively feel.
The developers of DeFi Bets have also confirmed that DFI will be implemented in the future. This suggests further integration possibilities and increased use of DFI within the platform.
We'll stay tuned and follow the exciting development of DeFi Bets. Look for more updates in our upcoming newsletters!
DeFiChain makes it to 4th place in a ranking of the most active developer communities in DeFi projects
A recent tweet from @Crypto_Dep highlights that DeFiChain has made it to the fourth place in a ranking of the most active developer communities in DeFi projects. This shows that DeFiChain not only has a steady growth and active community, but also a strong commitment from developers who are continuously working to improve and develop the platform.
The ranking was created based on the number of commits on GitHub, a popular development portal where developers can share their code updates and improvements. Here's a direct link to the tweet: DeFiChain Developer Activity Ranking
This ranking is an important indicator of developer engagement and the continued evolution of the DeFiChain platform. It highlights the vitality and progress of DeFiChain and confirms that it is one of the leading platforms in the DeFi industry.
DeFiChain about to take big step - announcement of mainnet node software and hardfork date
These are exciting times at DeFiChain. The team is about to announce the new Mainnet Node software and a hardfork date, which is expected to be two weeks after the Node release. So if the Node comes out in mid-July, the mainnet could go live as early as the 3rd or 4th week of July.
Currently, the DeFiChain testnet is bubbling with activity. Many projects are already in development and the community is eagerly awaiting the progress and news. A special highlight comes from Birthday Research, the research and development department of Bake. They plan to run ads for a new token called ADS, which users can purchase by burning DUSD and DRI. The ads will be placed on both the Lightwallet and DefiScan explorer.
These developments clearly show that the ecosystem around DeFiChain is rapidly growing and continuously evolving. With the upcoming release of the mainnet node software and the planned hardfork, the ecosystem will take a significant step forward.
🎧 Dive Deeper with InTheMarket Podcast and YouTube Channel
Want to explore more about DeFiMetachain? Check out our podcast episodes on Spotify and Apple Podcasts, and don't miss our YouTube video where we discuss DMC in detail:
💬Share Your Feedback with Us
That's all for now! Thank you for being with us on this exciting journey. Don't forget to share our DeFiChain newsletter with your friends and colleagues. Let's grow this community together!
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Best regards, Peddy