Welcome to Stakely's May monthly news roundup! This month, we not only bring you the latest updates from the crypto world but also share our environmental commitment. Join us on this exciting journey!
We've offset our carbon footprint through KlimaDAO!
We understand that we share the same planet and as a civilization, we are destined to face environmental challenges together. While we have individual goals and visions, we all value the environment that allows us to create unforgettable experiences and memories. It is crucial that future generations can also enjoy the same.
With this conviction, at Stakely, we strive to contribute to environmental care. We are pleased to announce that we have offset a total equivalent of 1000 tons of CO2 emissions through the permanent removal of tokenized carbon credits on the Polygon blockchain, through KlimaDAO.
By offsetting our carbon footprint, we are actively contributing to a better future. We appreciate our community of delegators for their trust, as it is thanks to them that we can carry out these meaningful actions.
Together, we can make a real difference and build a more sustainable world for future generations. Let's move forward with determination and commitment!
Above all, protect your crypto
Learning about blockchains and protecting the wallets where we store our private keys is crucial for healthy growth in this increasingly established financial world.
With that in mind, we have shared 7 key tips to help you maximize your security in crypto, including elements to identify and prevent common scams.
The most relevant blockchain news in May
Without further ado, let's see what crypto news May brought us. Get comfortable because you'll love what our projects have brought us this month.
Sui Network
At Stakely, we welcomed Sui Network, the layer 1 permissionless blockchain designed for Web3, after months of development. And the best part is, now you can stake SUI with Stakely to earn rewards and support the growth of the network!
And as expected, we already have a SUI faucet in case you ever need our support to pay for network fees. And if you're new to Sui, we have a step-by-step tutorial on how to delegate SUI so you can learn to maximize your earnings.
Aptos
This blockchain, which incentivizes decentralized applications, had significant activity in May. Aptos has backed over 50 projects with more than $3.5 million in funding.
Among these projects, there are mainnet networks like Tsunami Finance, where Margin Odyssey program participants can now join Tsunami's season 0; ParaFi Capital, dedicated to cryptocurrency investments and technological development; and Kana Labs, a next-generation wallet that offers sponsored transactions, gas-free transactions, and a connection to gaming, payment, and NFT dApps in the testnet phase.
Additionally, DoraHacks, a fund that provides grants and organizes hackathons, has received over 300 project submissions aspiring to receive a grant from the Aptos Foundation.
And that's not all, Ledger users can now celebrate the compatibility of this hardware wallet with Pontem Network, providing security to protect your APT tokens.
Furthermore, Aptos Labs has partnered with Mastercard to create the Mastercard Crypto Credential, an on-chain identity verification framework with multiple applications in payments, remittances, ticket sales, and NFTs.
Did you know that Thala, a finance-focused network, has partnered with TProtocol to facilitate exchanges of real-world assets (RWAs)? Now, Aptos Network users can exchange RWAs like gold or silver.
Move Developers DAO (MDD), a DAO that defines itself as a community of builders focused on developer onboarding and education in Aptos, has created Aptos Move-by-example, a free resource for the Move programming language designed especially for beginners and pioneering #MoveIndia students. It has recently partnered with MoveFunds DAO to bring this resource to China.
Injective
One of the most important news from Injective is the Avalon v1.11 update, which has passed governance testing (#231) with nearly 100% community approval and was scheduled for implementation on June 1st.
But why is Avalon important for Injective? In addition to low exchange fees and transaction speed, Avalon will improve L1 scalability optimizations, reduce block times to subseconds, and enable PoS delegation renewal, among other improvements.
What do you think of the idea of easily trading through arbitrage, perpetual coverage, and directional strategies using advanced algorithms connected to the shared orderbook module in all Injective markets? Now, it's possible as Injective has announced the integration of leading open-source software Hummingbot, allowing the building of cryptocurrency exchange bots for spot and perpetual markets.
Ethereum
Productivity on the second most important blockchain in the crypto ecosystem was impressive in May. To start, the amount of ETH in circulation decreased by 100,000 ETH due to the burning of ETH (as a result of the EIP-1559 update) and ETH staking on Beacon, among other factors.
Astec, the hybrid scaling solution based on zkRollUp, published its roadmap for the future. Its goals include launching a public testnet, integrating with IBC, and creating a dapp ecosystem.
OpenSea, the world's largest NFT marketplace, has expanded its functionalities for creators and NFT buyers with the update of its API to Seaport v1.5, while the previous version ceased to function in mid-May.
Blur, the marketplace for professional traders, has launched Blend, a perpetual loan platform that allows the use of NFTs as collateral. Additionally, Cozy v2, a marketplace that offers protection to users seeking profitability on the chain, is now available on Optimism.
Curve Finance users, a liquidity and exchange protocol for stable assets, were able to enjoy Cross-Chain Voting Rewards on Arbitrum, an optimistic scaling solution for Ethereum. Now users can create their own voting rewards on Arbitrum layer 2 to participate in Curve governance with lower costs and faster speed.
Avalanche
Avalanche, backed by Ava Labs, has launched AvaCloud, a Web3 launchpad platform. Its main goal is to help businesses create fully codeless blockchain ecosystems.
AvaCloud consists of four main components: an automated blockchain generator, managed validators, comprehensive data tools, and chain interoperability.
Neutron
In May, Neutron started producing blocks as the first consumer blockchain on Cosmos Hub. Neutron is the first to integrate into the economic zone of Cosmos Hub with a consensus structure backed by Replicated Security. As validators and participants in ICS, we officially welcome Neutron!
Neutron announced the promised NTRN airdrop to all wallets that had at least 1 $ATOM staked on Cosmos. Congratulations to the lucky elegible wallets!
And of course, at Stakely, we haven't forgotten to create a faucet for Neutron. To make it easier to claim the NTRN airdrop, we have created a faucet that sends the required amount of ATOM directly to your wallet on the Neutron network to cover fees on the Neutron network.
Cosmos
The Cosmos ecosystem has reached another significant milestone with the official implementation of the Liquid Staking Module (LSM). This module allows protocols that have adopted LSM to perform liquid staking of tokens locked in native staking, without the need for unbonding!
The Game of NFTs Hackathon is now underway and will last until mid-June! Participating projects are creating Interchain-compatible NFT applications to compete for a wide range of prizes, with a total of $300,000 allocated for the winners.
And regarding the Cosmos ecosystem, how could we forget about the vaults! Quasar and Osmosis have launched an Interchain Grants Program to fund top-tier teams interested in building IBC-enabled asset management vaults on Osmosis.
To top it off, in May, the Interchain Developer Academy began with over 300 developers for the fourth cohort, making it the largest cohort in Cosmos history.
Towards the end of May, the ATOM Accelerator DAO officially announced joint funding with the Osmosis Grants Program (OGP) for Mystic Labs, which will be working on MetaMask Snaps. With the launch of Snaps planned for September, users will be able to sign Cosmos transaction fees within MetaMask.
Stride
We have another consumer chain on our radar! The community has approved the migration process of Stride to the economic zone of Cosmos Hub following the approval of proposals 794 in Cosmos and 201 in Stride. Let us share all the details with you!
Juno
Juno has proven to be a major contributor in terms of code, front-end development, and design in Mesh Security. Mesh Security is a security model that will allow Cosmos SDK-based chains interconnected through IBC to execute security bidirectionally with Cosmos chains. In addition to strengthening security, Mesh also aims to enrich the economic security of the entire ecosystem, which potentially translates to higher returns for delegators by locking involved tokens.
Fantom
Fantom has had an admirable debut of integrations, updates, and launches.
Integrations
Projects in the ecosystem can now utilize KYC auditing services and smart contracts from Shield Protocol with additional benefits.
Another notable integration is Lava Network, a decentralized RPC provider. Furthermore, 1inch's Fusion Mode is now available on Fantom, enabling Fantom traders to enjoy fast transactions, low fees, and other exciting services provided by 1inch.
Launches and Updates
Fantom announced three significant updates. Firstly, Beethoven X V2 offers users optimized capital efficiency, positive cash flow for the DEX, and sustainable growth. Secondly, Tortle Ninja V2 allows DeFi users of all levels to create more dynamic and profitable DeFi strategies. Lastly, Equalizer has launched its frontend.
Flux Exchange now allows traders on Fantom (and zkSync) to perform fully decentralized perpetual trading with leverage of up to 100x and low fees. They even have a referral program that can be beneficial for traders.
In terms of launches, Damx Dao, a decentralized and automated exchange based on Fantom, has launched its Beta phase. The same goes for Odos Protocol, a DeFi aggregator that allows finding the optimal path for multi-token swaps.
And what about NFTs? Ghost has launched its mainnet, enabling NFT collateralization for collections based on the ERC721 NFT standard.
NEAR Protocol
NEAR Protocol has taken a significant step by adopting Wormhole Bridge as its bridge to connect with Ethereum. This breakthrough is a significant boost for blockchain connectivity and will provide new opportunities for NEAR users. Don't miss out on the details of this integration!
Evmos
In May, Evmos launched Inferno, a 12-week incentive program designed by Forge DEX. Inferno aims to drive liquidity and foster DeFi growth on Evmos and has garnered attention for its user-friendly interface and high yields.
Evmos has formed valuable partnerships with prominent platforms like Stride, the liquid staking protocol, and Revert, the Actionable Analysis protocol for AMM liquidity providers.
Additionally, Evmos has been actively collaborating on the development of the first EVM RollApp enabled for IBC on Dymension's 35-C testnet. Dymension defines itself as an easily deployable modular blockchain network. This collaboration is an exciting step towards adopting innovative technologies and expanding blockchain interoperability.
The Evmos team continues to demonstrate its commitment to the growth and improvement of its ecosystem!
Polkadot
Mythical Games, currently the number one blockchain game, has left Ethereum to launch its new ecosystem "Mythos" on Polkadot.
Deloitte Switzerland, the world's largest accounting firm, has integrated KILT Protocol into its system to issue reusable digital credentials in KYC and KYB processes. This collaboration showcases how Polkadot is becoming a trusted ecosystem for identity management and credential verification.
In an exciting auction, an anonymous parathread identified as number 3336 won Polkadot auction #43. Alongside it, other auction winners like Bajun Network and Basilisk have further strengthened the Polkadot network.
Polkadot now has its first cross-chain DeFi protocol built directly on the chain, known as Prime Protocol, and is already available on Moonbeam. Additionally, Polytope Labs has published a way to verify Beacon Chain consensus proofs, further enhancing network reliability and security.
See you next month!
The blockchain world continues to advance rapidly, with each development team seeking to provide the best for its users and explore all possible opportunities. As validators, we strive to deliver the best to our users and also take care of our home: the Earth. We look forward to seeing you in June with more exciting news and advancements in the blockchain world!