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Testnet Hardfork, DMC-CEX, Hackathon and more
Patrick Hammel
October 23, 2023
In todays edition InTheMarket:
VanillaSwap the first project on DMC Universe
Testnet Hardfork - 100%
Hackathon and Learn & Earn
Integration of DMC into a centralised exchange
Return of the English-language DeFiChain Community Spaces
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!
VanillaSwap will be the first project on DMC Universe
As the launch of MetaChain draws ever closer, we are pleased to announce VanillaSwap as the first project to be listed on DMC Universe. This project was selected by the DeFiChain community.
More projects will follow in the future!
Heres the announcement: Twitter Post
This marks an important milestone for both VanillaSwap and the DeFiChain community, as it shows how the community is actively involved in selecting and promoting projects on the new MetaChain platform. It sets high expectations for the future projects that will soon follow on DMC Universe.
Testnet Hardfork - 100% ✅
The Testnet hardfork has been successfully completed! Thanks to the stable performance of Changi Beta 15 and RC1, this important step could be completed.
A big thank you to the entire community and the 17,000+ masternodes worldwide for their patience and support. More developers are encouraged to build on the EVM MetaChain layer as they move forward with performance improvements and the upcoming launch of the MainNet.
Here is the link to the announcement: Twitter Post
This successful hardfork in the testnet is further proof of the stability and reliability of the DeFiChain platform. It represents an important milestone that opens the door for further developments and upgrades, and signals that the MainNet launch is within reach. The community can look forward to exciting times and new opportunities.
Hackathon and Learn & Earn to increase developer engagement and ecosystem growth
Following the approval of DFIP 2111-B to integrate native support for the Ethereum Virtual Machine (EVM) on DeFiChain, the DeFiChain Labs team is working tirelessly to make this vision a reality. This monumental step is a game-changer for the DeFiChain community for several compelling reasons:
Cross-compatibility with Ethereum: The MetaChain layer enables seamless interaction between DeFiChain tokens and the Ethereum ecosystem. This opens new avenues for liquidity and attracts increased attention to DeFiChain.
Encouraging dApp development: EVM compatibility enables a wider range of decentralised apps to be developed on DeFiChain. This invites more developers, content and users into our community.
To further drive this initiative, the DeFiChain Labs team has received 350,000 DFI through CFP-2208-05 to launch the hackathon in partnership with Devfolio. This hackathon aims to promote the DeFiChain ecosystem far beyond its traditional base and encourage the development of various dApps.
Remarkably, the majority of the funds will be used to reward hackathon participants (85%), while the rest will be earmarked for marketing and project management.
In addition, DeFiChain Labs has successfully reduced hackathon costs, freeing up additional funds. These will be redirected to support the Learn & Earn programme, more on this directly below.
In collaboration with the Learn & Earn platform StackUp, there is also a programme that provides developers with the tools and skills necessary to build on DeFiChain.
Taken together, these initiatives provide developers with the skills to create groundbreaking decentralised applications on one of the world's largest blockchains and elevate the DeFiChain ecosystem to a new level.
Here’s the blog post!
This step is another milestone in the development of the DeFiChain platform and shows how committed the community is to expanding and improving the ecosystem. These are exciting times for all who are part of this growing ecosystem.
CFP for the integration of DMC into a Centralised Exchange (CEX)
Here is a summary of the latest Community Funding Proposal (CFP) presented by key members of our DeFiChain community.
This CFP aims to integrate DeFiMetaChain (DMC) into a Centralised Exchange (CEX) and it is critical that we all understand its implications.
What is the CFP about?
The focus of the CFP is on the integration of DeFiMetaChain (DMC) into a Centralised Exchange (CEX). DMC is a ground-breaking toolset that will enable the building and deployment of smart contracts and decentralised applications (dApps) on DeFiChain.
Who made the proposal?
This proposal was made collaboratively by Daniel Zirkel from the DeFiChain Foundation, Kügi from the DeFiChain community, Lord Mark from JAVSphere, Santiago from Jelly Labs and Dominik from Vanilla Labs.
Why is this important?
The integration aims to foster a thriving ecosystem for new projects on DeFiChain. It will introduce ERC-20 standard tokens on Metachain that will operate exclusively on the DeFi Meta Chain. Every transaction on DMC will require DFI for transaction fees, increasing the utility and demand for DFI.
How will it be approached?
The strategy involves entering into a framework agreement with a prominent CEX (no specific CEX has been named yet).This agreement will facilitate the integration of DMC and initially list 3 ERC-20 tokens on DMC along with DFI as native DMC coins.
What are the financial aspects?
The total cost for this integration and listing is USD 150,000. The DeFiChain community is proposed to fund USD 93,750 of this amount through the community fund. The remaining costs will be borne by the respective projects.
Any remaining DFI will be returned to the community funding address.
Which tokens will be listed?
The tokens that are up for listing are:
$DFI (native EVM tokens on DMC).
$JAV (JAVsphere)
$JLY (Jelly Token)
$VAN (Vanilla Token)
Conclusion
The integration of DMC into a CEX is an important step forward for the DeFiChain community. It promises to bring benefits not only to the new projects, but also to the entire DeFiChain ecosystem.
This is a summary and I strongly encourage everyone to read the full proposal.
This step is another milestone in the development of the DeFiChain platform and shows how committed the community is to expand and improve the ecosystem. These are exciting times for all who are part of this growing ecosystem.
Return of the English-language DeFiChain Community Space
After a break, the DeFiChain community has announced the reintroduction of the English-language Community Space. Maurice_DFI, BTC__Bacon, DEFICHAINFACTOR and other community members will reopen the space next Monday at 16:00 CET. The event is aimed at all DeFighters and aims to promote community exchange and discuss the latest updates around DeFiChain.
Here is the link to the announcement: Twitter Post
This return provides a great opportunity for the English-speaking community to reconnect, share their questions and concerns, and actively shape the future direction of DeFiChain.ß0
🎧 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:
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Best regards, Peddy