NEO
Neo News Today released an article highlighting the evolution of GAS in the Neo N3 blockchain ecosystem, which will have an increasingly important role. GAS will continue to be used as payment for network resources, deploying smart contracts, and other on-chain services. However, there will be changes to the token supply, removal of the ten GAS subsidy, and N3 will no longer use the UTXO model. New use cases for GAS include paying for Oracle and NeoFS node fees, and incentivizing governance participation.
NNT Catch Up
O3 Labs released a litepaper for O3 Swap, its cross-chain liquidity aggregation protocol. O3 Swap is designed to provide users with the most cost-effective rates and a simple one-click transaction process for swapping assets between different blockchains or L2 networks. The litepaper gives a more comprehensive overview of the protocol’s design, including how liquidity is sourced and incentives are handled. O3 Labs also reported securing US $2 million in funding from several notable funds.
Nash participated in an AMA to discuss how the project is seeking to add new market pairings in 2021 while pivoting to traditional financial and non-custodial blockchain services. In the AMA, head of global business development, Kellogg Fairbank, discussed the logic behind the pivot and Nash’s path to growth.
Ecosystem
April 19, O3 Labs announced a partnership with WeStarter, a cross-chain swapping platform on the Huobi ECO Chain.
April 19, Nash announced that 20 million NEX tokens are currently staked on its non-custodial exchange. With a total token supply of 50 million, this figure accounts for approximately 40% of all issued NEX. Nash also launched a fiat ramp widget on its website that makes it easy to buy and sell cryptocurrency using the Euro. Supported cryptocurrencies include NEO, BTC, USDC, ETH, and AAVE.
April 19, Poly Network tech lead, Tan Yuan, joined an AMA with Jinse Finance to discuss the cross-chain interoperability protocol. Tan announced that Poly Network is working on a cross-chain bridge for NFTs.
April 20, O3 Labs launched a trial invitation for the O3 Swap, and stated plans to share information with users acquired during testing.
April 21, DeepBrain Chain announced plans to launch its MainNet at the end of May 2021, and conduct the token swap at an unconfirmed date in June 2021.
April 22, O3 Labs VP of product, Tim, participated in an AMA on the Flamingo Finance Discord server where he discussed the unique characteristics of the O3 Swap platform, integrating with Flamingo, next steps, and more.
April 23, Poly Network established a strategic partnership with Polka Finance, a DeFi platform aiming at bringing the first major NFT marketplace to Huobi ECO Chain.
April 24, Poly Network established a partnership with KelVPN, a decentralized VPN based on the Cellframe Network protocol.
April 25, O3 Labs launched beta testing for the O3 Swap, which will be live through May 10, 2021.
About The Author: Dylan Grabowski
Dylan is a reformed urban planner with a passion for covering the Neo ecosystem. His objective as a writer for Neo News Today is to report news in an objective, fact-based, non-sensational manner. When not behind a computer screen, he can be found in the mountains rock climbing. Find Dylan on Twitter (@GrabowskiDylan).
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