In todays edition InTheMarket:

• The New MetaScan Block Explorer

• Risks in the DeFiMetaChain Universe

• OpenDApps Cloud: deployment on the DeFi Meta Chain Testnet

• VanillaSwap: A new era of swapping on DeFiMetaChain.

• Summary of the German DeFiChain Community TwitterSpace

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!

The New MetaScan Block Explorer

MetaScan is a new development for the DeFiMetaChain. A block explorer allows users to view information about blocks, transactions, and other activities on a blockchain.

MetaScan is essentially the equivalent of defiscan, but for the DeFiMetaChain. If you're familiar with defiscan, you'll immediately see the benefit of MetaScan. Similar to DeFiscan, MetaScan allows users to search and review all activity on the DeFiMetaChain.

With MetaScan, users can now easily explore blocks and transactions on MetaChain's TestNet. This is especially useful for developers and tech-savvy users interested in the details of blockchain operations, but also for other users who want to track and verify transactions.

Note that MetaScan offers limited features in its early version. This means that not all possible features and services are fully implemented yet. However, the team behind MetaScan encourages users to explore the tool and provide feedback. User comments and suggestions are especially valuable during this early phase to further improve the product and make it more responsive to the needs of the community.

You can try MetaScan now at http://meta.defiscan.live. Have fun exploring!

Risks in the DeFiMetaChain Universe

0ptim posted a thread on his Twitter account pointing out the risks that can exist when entering the DeFiMetaChain and interacting with various dApps.

He emphasizes that while we are excited about the exciting possibilities that EVM compatibility offers, we must not forget that "with great power comes great responsibility." Before we put our money into new ventures, we need to remain cautious and make sure we are well-informed. This is especially true if we are considering investing in projects led by unknown developers or whose code is not openly available.

0ptim also warns about the risks associated with high yields (APYs). Such returns can often sound too good to be true, and we should always take a skeptical look and ask ourselves if they are sustainable.

Another valuable piece of advice 0ptim shares with us is the importance of community spirit in the DeFi world. Don't hesitate to ask for advice or learn from the experiences of other members of the DeFiMetaChain community.

To help you with this, 0ptim has provided a security checklist:

• Is the project open source? Can you verify the code?

• Are the developers known or trusted?

• Has the project been audited?

• How old is the project and how established is it?

If you want to dig deeper into the risks highlighted by 0ptim, you can read the full thread on Twitter: here

Likewise, there is a German Reddit post about it!

In conclusion, it is crucial that we all do our part to stay well-informed and vigilant when out and about in the DeFiMetaChain and crypto space in general.

☁️ OpenDApps Cloud: deployment on the DeFi Meta Chain Testnet

There is exciting news from OpenDApps Cloud: they are in the process of deploying their infrastructure on the DeFi Meta Chain Testnet. Already about 60% of the infrastructure is up.

This is particularly notable because OpenDApps Cloud is one of the first projects to come from outside the DeFiChain community and build on top of the DeFiMetaChain. This shows the growing appeal and potential of DMC for developers from the crypto space.

But what is OpenDApps Cloud?

OpenDApps Cloud is a platform focused on enabling Web3 developers to scale their projects, simplify their development, and unlock the full potential of decentralized applications through innovative cloud solutions.

OpenDApps Cloud's offering is designed for different user groups, including developers looking for modern solutions, everyday crypto users looking for a user-friendly experience, and enthusiasts exploring the crypto world. The platform supports the most commonly used EVM chains, providing easy access to comprehensive services and solutions for crypto projects.

This move by OpenDApps Cloud demonstrates the increasing interest and growth we are seeing in the DeFi world. It is exciting to see how OpenDApps Cloud and other projects continue to leverage and expand the DeFiMetaChain.

🍦 VanillaSwap: A new era of swapping on DeFiMetaChain

An interesting project that is developing on DeFiMetaChain is VanillaSwap. This project is similar to other swapping protocols such as Uniswap or PancakeSwap, which allow different cryptocurrencies to be swapped in a straightforward manner. VanillaSwap has now successfully gone live on the DeFiMetaChain testnet, and the first users have already successfully swapped and created their own pools.

The team behind VanillaSwap has been continuously optimizing its platform on the testnet (and is still in the process of doing so) and after some adjustments it is now publicly available. More than 35 people are already working with and on VanillaSwap, and that number is expected to grow in the future.

A special incentive for using VanillaSwap on the testnet is an upcoming airdrop on the mainnet. All addresses using VanillaSwap on the testnet will receive an airdrop on the mainnet at launch.

If you want to try VanillaSwap yourself, here are the necessary steps:

1. Install the Metamask wallet.

2. Connect to the DMC testnet in Metamask.

3. Visit the VanillaSwap website and connect to Metamask.

4. Choose $DFI and $VAN as tokens for the swap and decide on a small amount.

5. Confirm the swap.

6. Adjust the gas rate in the Metamask plugin.

7. Note your transaction ID.

Additionally, VanillaSwap offers a sweepstakes where one lucky participant can win a $500 prize. To participate, you need to retweet the corresponding Twitter post from VanillaSwap and include your testnet swap transaction ID in it.

VanillaSwap represents an important step in the development of DeFiMetaChain and offers new exciting opportunities.

🧵Summary of the German DeFiChain Community TwitterSpace

• DeFiChain is making progress with the launch of MetaChain.

• Jellyverse and Uniswap on DMC are being developed

• Newsletter with the latest news about DMC is published every Monday

• Meta-Chain on testnet is active and developers are working hard on it

• Performance issues are being addressed, with gas estimation and blockchain speed optimization

• Currently there are some performance issues on DeFiChain due to low transaction volume

• Core developer Diego thanks the community for their support

• Gracia from the Birthday Research team has left CakeDeFi

  Crypto market updates

• The cryptocurrency market is fluctuating

• SEC focuses on Binance and Coinbase

  Community updates

• Considerations to give bonuses to viewers to promote DeFi

• Ways for non-developers to support testnet being discussed

• New format called DeFiChain Roundtable mentioned

• Upcoming NFT event on July 29 in Magdeburg not included in sponsorship deal

• Next Space will be held again on June 26
  

  Listen here to the complete space

🎧 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:

• Spotify

• Apple Podcasts

• YouTube:

💬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!

We understand that blockchain and DeFi might not be the only topics that you're interested in. In a world increasingly dominated by technology, AI and machine learning are two more key areas that are becoming ever more relevant.

If you're interested in learning more about AI, particularly on how you can effectively utilize it in your studies or content creation, you might find these two e-books helpful:

• Study Smarter with AI: Your Guide to Academic Success

• Master Content Creation with AI: The Ultimate Guide for Content Creators to Boost Efficiency

Also, to keep you continuously updated, we have a special AI newsletter. You can subscribe here.

Best regards, Peddy