As every month, our Stakely's monthly review is here to update you on what's going on in the crypto ecosystem. May has undoubtedly been a month that has tested many investors, as well as the management skills of many other projects. But let's take a look at how those projects in which Stakely is a validator have fared.
Let's start by reviewing Stakely's own figures - this month the number of delegators on Stakely has grown to 20,050 users! And the community on Twitter has reached 13,145 followers! Without a doubt, our community deserves a lot of recognition. We want to thank you for the support and trust we receive from you, this motivates us to keep working and continue improving to offer you high-quality staking service.
We keep doing our bit for the validator community. The experience, knowledge and great performance of the technical team are the qualities that have made projects like Sifchain decide to count on Stakely to manage their community and social networks in Spanish. A support and dissemination service that most of our users already know and have the opportunity to enjoy in our usual channels.
We keep providing technical support for all the networks we participate in on the Telegram Stakely Chat (English) and Stakely Chat Español (Spanish) channels. In addition, you can keep up to date with everything relevant in the crypto world in the Telegram Announcements Channel, our Twitter, and our Youtube Channel, where you will find step-by-step guides on how to delegate in different networks and much more.
This month we have added Covalent and Evmos to our staking portfolio. In addition to actively participating in the launch of Covalent's mainnet, we have also been one of the first validators of the network.
Remember that Stakely's Faucet is available for more than 20 networks, which will allow you to request tokens enough to pay the fees of your operations in case you have run out of assets.
Updates on our projects
Next, we will review the main networks of which Stakely is a validator. It is appropriate to start with Terra (LUNA), as it has undoubtedly been the big event in the crypto ecosystem this month.
Terra
Nothing seemed to foreshadow, despite the many "I told you so" "I saw it coming" after-the-fact comments, what was about to happen. Earlier in the month, Terra was debating the sustainability of the Anchor protocol and the network's algorithmic stable coin UST, the former was making large purchases of Bitcoin to offset the cost of paying bounties and in anticipation that a drop in the price of LUNA would spell trouble for the UST backing.
LTV was up, but transactions on the Dapps were not and despite this the network seemed to have some good fundamentals. A massive dump of 285 million UST in Curve and Binance by a single actor, followed by massive shorts on LUNA and hundreds of posts on Twitter produced a chain reaction that was hard to save.
Despite rescue attempts, the crash was unstoppable and exchanges started to suspend operations with the LUNA and UST pair, to the point that for security reasons the network was forced to stop. The project team together with the community of validators worked hard to find a possible way out of the crisis.
Terraform Labs CEO Do Know did not throw in the towel and insisted on rebuilding the network, creating a new network and a token distribution plan. Global institutions took the opportunity to resume the regulatory debate with the excuse of the incident, and Do Know was summoned by the South Korean parliamentary hearing to learn the details of the collapse and networks such as Polygon, BSC, Near or Fantom offered to host the projects running on Terra.
The exchanges relisted LUNA and the general public seems to accept the plan to revive the network. A new network, Terra 2.0 and a series of airdrops, listings, buybacks and burns. Now all that remains is to wait.
For those who have questions, remember that you can find us on our respective Telegram channels, we will be happy to help!
Ethereum
This network is doing a great job in encouraging the community to actively participate. Crypto-educational office hours, collaboration programmes with the network in tasks such as translation of documentation...
The Ethereum Name Service continues to grow, with 10,000 names associated with NFTs becoming one of the most valued assets.
Although Ethereum's TA was not promising this month, the network keeps up with major development milestones such as the Ropsten testnet merge on 8 June, ahead of the big Ethereum Merge expected in August.
In terms of events, an ETH Barcelona is being prepared with a focus on the social impact that web3 can have.
Fantom Network
On the development side, Fantom builders can now bring quantum phenomena to their smart contracts. True randomness is here with Api3's quantum number generator.
Also, Fantom is officially integrated with TrustWallet and Orion Protocol, offering in this last one aggregated and decentralized liquidity without switching wallets.
Since the launch of the mainnet, 30% of transaction fees have been burned forever.
Snapsync, its major upgrade, has been activated, improving network reliability, decentralization and faster synchronization of nodes through small_blue_diamond. The nodes have been also upgraded to V1.1.1rc1 and Berlin and London are now active.
There have been changes in sFTM and fUSD, to liquidate positions that are not overcollateralized by at least 300%.
Polkadot
Following the community vote, v0.9.19 has been announced. With several modifications such as batch calling between parachains and #Statemint update.
Polkadot is doing great work in terms of outreach: from May 22-26 Polkadot was in Davos. We were able to hear from founder Gavin Wood and other members of the team. In addition, registration is now open for Polkadot's biggest event (Polkadot Decoded) on June 29-30. You can choose between Berlin, New York, Buenos Aires, Shanghai and Mexico. Polkadot's first North American Hackathon is active until July 18... and many more. Keep an eye on their networks to stay up to date with all the network events this summer.
Crypto
This month he presented "Legacy of Titans" a NFT collection by Maximiliano Hache, artist from Barcelona and the collection "The Croxy Whales" by Barbara Redekop.
Regarding the cards, after complaints from users about the integrated modifications, they have decided to leave it as follows: instead of completely eliminating the earning rates on the cards, they will offer 8% APY for private members (Obsidian, Icy White and Frosted Rose Gold) and 4% APY for Royal Indigo and Jade Green cardholders.
This month AKT (Akash Network), FLUX, KRL (Kryll), PRQ (Parisq), LDO (Lido DAO) WOO (Woo Network), BUSD (Binance), AR (Arweave) RARE (Super Rare) GAL (Galaxy) and the new LUNA (Terra) have been listed. Also some Avalanche AVAX-ERC20 and ETH tokens have been added this month.
App users can now place limit orders and automate them. And Crypto.com supported Cronos Chain mainnet update - v0.7.0
They have announced this month the start of collaboration with the Signapur Blockchain Association.
Celo
As always, Celo comes with great news! This month Celo has partnered with AngelHack and Huobi Incubator for the Celo x Huobi Hackathon which you can enjoy from May 23rd to June 24th. He was also at the Activate x Wormhole Hackathon in Miami.
Celo and FlowCarbon teamed up to develop an open blockchain carbon market infrastructure. The partnership will catalyze Celo's #ReFi ecosystem using Flowcarbon's infrastructure to drive demand for environmental assets. And Celo Camp is already underway as well as the Connect the World initiative that seeks to develop fiat exit ramps around the world.
They had new listings of Celo and its stable on Coinstore, BitGlobal, Gate.io and Huobi Global.
In collaboration with Climate Guardians they have released the first Play to Preserve strategy game. And as every month, they had Kuneco, the call to the community to catch up with all the happenings, updates on initiatives and events.
Juno
This month Juno launched JunoTools, a Dapp that allows millions of people to create and explore smart contracts for startup projects. And they have updated their mainnet to version V4.0.0. They've had their own Hack show in Prague and announced the release of Aqua, Kado, Loop Finance and Leap over the Juno mainnet. We also had the premiere of Juno at the Super Fluid Staking at Osmosiszone with the JUNO/OSMO pool.
Covalent
One of the biggest news, and the one that affects us the most at Stakely, was the launch of the CQT staking. But there is more, they have announced integration with Aurora, an Ethereum virtual machine (EVM) created by the NEAR protocol team, and with Evmos, a dynamic ecosystem that includes bridging solutions, DeFi and DAOs.
Evmos
The most important updates to Evmos this month have been that IBC to Osmosis transfers are now available for Evmos Keplr and Metamask users. Several issues with airdrop claims have been detected and the inflation module has been activated which will activate staking rewards, usage incentives and community fund allocation.
StaFi
Stafi has released a new version of testnet featuring the liquidity fund aggregator. And announced StaFiHub's partnership with Comdex, a decentralized synthetic protocol in the Cosmos ecosystem. It has also launched $rIRIS on StaFiHub Testnet to achieve its mission of providing liquid staking for #Cosmos projects. rIRIS is the liquid #staking solution for $IRIS users who will be able to stak their $IRIS tokens to earn staking rewards while enjoying the liquidity benefits provided by $rIRIS.
Certik
This month Certik released the figure of $1.6B lost in the #crypto / #web3 world so far this year. In just the first 4 months of 2022, it has surpassed the total amount lost in 2021 ($1.3B) and 2020 ($516 MM). Creo Engine is officially under Certik's SkyNet monitoring! And they have launched a series of badges and distinctions to differentiate the different security levels of projects using Certik. In addition, they communicated Skynet's integration with Nodereal to enable data analysis and security monitoring services.
And there's more...
Avalanche was at the Tempelhof F1 championship in Berlin.
Kusama released v0.9.0 of the client containing the parachain runtime modules for Kusama.
Secret Network has released its mainnet update, Shockwave Alpha, with significant improvements in performance and interoperability, in addition to launching a developer support program and listing on Kucoin.
In Sifchain, the expansion reward payments have been executed. Several fixes and improvements are being made to the Dex. This network continues to be one of the most active in the DAO's relationship with the community.
IrisNet, the WeTeam dApp has been launched on the IRIS Hub, IRISnet partnered with StaFi to deploy a new rIRIS liquid staking solution and the IRISnet ambassador program is up and running.
LTO Network has been listed on Biconomy_Global, Coinmerce, Vauld Official and Bitcoiva and has approved the upgrade of mainnet Juicy with improvements in APY and lower costs for the user and introduced Proofi, a new identity management solution for DeFi protocols.
BitCanna was at the Blockchain Congress in Murcia this year and the staking interface on Omni Flix Network is available, you can now stake, vote, send and claim your $BCNA! Buddhead's NT collection has also been launched.
Desmos has integrated Rango Exchange into its network.
Enecuum $ENQ is available from Exolix.
Finally, in Bifrost, Witch Official, a realistic experience through Unity technology and 3D designs and combining the functions of NFT and DeFi has joined the project. Another good news is the listing of the project on Kucoin.