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Newsletter #1

Start of the week! Welcome to our first newsletter, moving forward we plan to send one out Monday, Wednesday, Friday. We will cover a wide range of cryptocurrency news to keep you up to date with market trends, along with analysis and our opinion. If you like the format let us know by sharing with your friends. Enjoy reading!

Metal Pay acquires block explorer

metal pay acquires in move for further growth of proton chain and metal pay
Metal Pay has been able to scoop up over 10,000 daily users by acquiring, a block explorer for EOS, Wax, Telos, Proton and other chains. Metal expects to benefit by being able to engage with Blok’s large number of real crypto holders. There are plans to collaborate with developers who are led by former Ethereum dev Syed Jafri.

Is this good news?

The move shows that Metal is committed to building out its long term vision for the future of banking. Currently, there is a market trend around products that connect cryptocurrency to real-time fiat payments. Just look at the recent attention around Swipe Wallet. Excitingly, Metal Pay is not aiming to just be a solution for spending crypto with a Visa card. Metal is building out the infrastructure for providing regulated crypto bank accounts.

More than just a cryptocurrency wallet: Metal Pay users have real FDIC insured bank accounts that can receive direct debits or pay bills. It brings legacy finance and blockchain technology together seamlessly, as you can link your Metal Pay account to your Visa Debit card. This enables quick purchases of crypto or fiat cash outs. But right now, it is only available to a select amount of U.S. states.

Looking forward… Metal’s proprietary blockchain Proton (XPR) launched in April 2020 aims to solve several regulation problems when it comes to banks embracing cryptocurrency. Proton Chain is built to be a channel of communication between blockchain and banks. No doubt the team will aim to leverage this technology, to make Metal Pay available worldwide.

All Eyes on Dock’s PoA Mainnet Launch

dock network launching PoA mainnet in September
While excitement for Polkadot is growing around the industry, as it does not face the same scalability concerns we currently see on Ethereum. Many projects that are building and part of Polkadot’s ecosystem seem to be flying under the radar. Dock is one of those very projects! Dock’s PoA mainnet launch is scheduled to happen during September, so now is time to take note.

What is Dock?

Dock aims to facilitate issuing verifiable credentials using blockchain technology. They are building the open source infrastructure and tools that will solve universal problems with legacy data solutions. Such as gate-keeping, incompatibilities across multiple platforms, inaccurate information, inefficiencies with verifying data and an overall lack of privacy for users.

Understanding the value… take job hunting for example, you have to sign up with Linkenid, Indeed, Monster and countless other websites. You spend countless hours filling in the same information, copy pasting your resume everywhere. Now imagine you create your profile on Dock, your data is now secure and decentralized. Job hunting businesses can now purchase this data using DOCK (as long as you opt-in!) and find your profile. Everyone’s life is easier, its a win win.
  • To help onboarding and adoption, Dock plans to use oracles to calculate the price of data compared to the rate of DOCK. As a result, the price of data will remain stable.
Big Data means Big Money: There is a lot of competition, in the Polkadot ecosystem alone, we count 8 projects working to connect the data economy with blockchain. So we can’t say for sure if Dock will become the industry standard. What we can say is mainnet launches bring attention, which translates into new buyers. You do the math.

Swipe Network launches Staking with 12% APR

swipe launches staking on binance 12% APR
Over the weekend, Swipe launched a new staking program for SXP with Binance. Users holding their SXP on Binance in Spot Wallets will automatically enroll in the program, earning up to 12% APR. Meanwhile, Certik, a blockchain security team, cleared the staking smart contracts for the mainnet and a 28th August launch date has been set.

Endless bullish news for Swipe?

  • Upbit Global listing.
  • Mainnet launch date set.
  • Swipe Wallet available to all US (minus NY)
  • Binance USA listing.
  • DeFi lending products with Binance Chain.
  • Band Protocol partnership for decentralized oracles.
  • The mysterious SwipeX product.
Investors are taking notice: Swipe Network is not missing a beat, all the news is bullish and investors are taking notice. As of today, SXP is trading around the $3 mark and is up by over 53% over the last 30 days. Furthermore, their Visa cards (available for EU and UK residents) are now completely free which will increase orders. All eyes are now on what the SwipeX product announcement will be.

Looking ahead… the wallet becoming available to US residents and Binance USA listing for SXP should be seen as particularly bullish news. This means Swipe is making progress on the regulation requirements needed to make their Visa card available to US residents. In fact, they have mentioned orders will be open soon.

Ocean Protocol Completes Token Swap

ocean protocol completes token swap
On August 21st, Ocean Protocol completed their token swap moving OCEAN to a new ERC20 contract. The successful token swap is part of the project's Ocean V3 release which will bring staking and incentives into the Ocean ecosystem. Essentially, they are preparing to activate network rewards scheduled for Q4/2020 which will primarily go towards community funding programs.

Well, that’s all great news?

While it is positive to see Ocean Protocol’s development moving forward, even this successful token swap may be a bearish indicator for the market. The total supply of OCEAN has doubled overnight and is now 1.41 billion. The team was quick to remind traders that the current circulating supply has remained at 350 million, so there should not be any immediate price impact.
  • Many investors dove into OCEAN following the increased attention due to their recent Binance listing, just days before the token swap happened. They may now find that the Ocean Protocol is much deeper than expected!
Lower your pitchforks: the tokenomics change (increased total supply) is not actually a surprise or unplanned roadmap change. It was communicated in their original 2017 whitepaper, though that was 3 years ago and Binance could have highlighted this better.
In the new Ocean token contract, the maximum total supply will be set to 1.41 billion Ocean tokens. Originally planned and communicated in 2017, we’re now ready for this update to the maximum total supply.

Looking to the horizon: if you have been caught out by the supply change, then don’t think about throwing out the anchor just yet. The Ocean V3 release in September will enable a decentralized data marketplace accessible to everyone. Buying and selling of datasets will be simple, powered by Data Tokens, opening up a new era of data and DeFi economy.

Also Take Note:

  • Qtum Hard Fork: Upcoming Qtum mainnet hard fork is scheduled to happen on the 28th August, which will enable Cold Staking. Qtum recently announced an aggressive move into the DeFi ecosystem.
  • Augur Roadmap update: REP has been trending upwards since the launch of Augur v2 and now the team has published part 2 of their Master Plan.
  • Elrond Token Swap: During September, ERD will migrate to the new eGLD token. Along with Bitfinex exchange listing, more Maiar users, and potentially new announcements at the Brands Minds 2020 summit.
  • 0xProject: Team 0x launched a new p2p exchange called Matcha in June. DEXs with off chain orderbooks and layer 2 scaling solutions such as Loopring are doing great due to the Ethereum network costs. Evidenced by LRC recent price trends, we expect ZRX to soon follow the trend.

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