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Snax Chain, built on OP Stack, launches September 15th, integrating Wormhole for secure, decentralized Synthetix V3 governance and cross-chain messaging. (Read More)
Competition is mounting among DeFi derivatives protocols after Synthetix launched on Arbitrum in July.
Decentralized finance (DeFi) protocol Synthetix (SNX) is working toward launching its application blockchain, dubbed SNAXChain, according to a blog post published on September 4, 2024. Synthetix SNAXChain To Launch On Optimisms Superchain Infrastructure Ethereum-based derivatives liquidity protocol Synthetix is set to unveil SNAXChain, an application blockchain built on Optimisms Superchain infrastructure. For the uninitiated, Ethereum [...]
The post DeFi Protocol Synthetix To Launch Its Own Application Blockchain, SNAXChain appeared first on Crypto Breaking News.
The German firm Matter Labs, which created the ZKsync protocol for Ethereum’s Layer 2 layer, has laid off almost 16% of its employees. In a post on X, Matter Labs’ co-founder and CEO, Alex Gluchowski, said that the company has always adhered to the principle of being a small, dedicated
Matter Labs is the creator of the Ethereum layer-2 scaling solution ZKsync.
Polkadot (DOT) needs help at spot rates. When writing, DOT is still trading below $4.5 despite the broader recovery. Bitcoin and Ethereum, for example, are trading above local resistances now support, at around $60,000 and $2,400, respectively. DOT Struggling, Bulls Capped Below $4.5 A look at the DOT price action in the daily chart reveals that the coin is trending inside the September 14 to 18 bear range. Even though there were gains on September 18, which has since acted as the base for the current swing high, bulls are not capitalizing on the momentum. Related Reading: SUI Eyes Potential Pullback As RSI Flashes Warning: $1.4 Retest In Sight The immediate liquidation level, marking September 15 highs, is $4.5. If broken, it could trigger a wave of demand that may be the building blocks for more gains, extending the current 18% rally from September lows. Interestingly, DOT bulls are slow to tap into the improving crypto sentiment and break this resistance level. This underwhelming performance also comes even after the introduction of Agile Coretime. According to Polkadot developers, this feature is a crucial component of the next network phase, Polkadot 2.0. Agile Coretime Out As Developers Prepares For Polkadot 2.0 The Agile Coretime rollout, released last week, introduces multiple features that will benefit developers and protocols launched on the platform. Top of the list, developers said Agile Coretime introduces even more flexibility. This is because the feature permits projects to access network resources as needed. They won’t have to be locked into a fixed slot like before. Additionally, Agile Coretime seeks to push scalability higher. To do this, the feature enables adaptable core allocation. Subsequently, higher network efficiency allows the platform to support even more diverse applications. Agile Coretime sets the ball rolling for the eventual activation of Polkadot 2.0. This upgrade sets the stage for overhauling the current resource allocation model, making it more market-driven. Related Reading: Fed Rate Cuts Spurs $1.6 Billion Bitcoin Buying Spree Among Whales, Can BTC Reach $70,000? Moreover, developers will be looking to introduce Asynchronous Backing, which seeks to separate the Relay Chain, which is core to Polkadot and Parachains. The idea is to improve efficiency and drive scalability. Though developers are lining up major developments, DOT is lagging and trending near 2024 lows. DOT’s performance will largely depend on the general market sentiment and Bitcoin or Ethereum’s performance. DOT will likely benefit if these coins break their respective all-time highs in the coming weeks. Feature image from iStock, chart from TradingView
Synthetix, a popular DeFi protocol, is facing challenges regarding its plans for Arbitrum, a layer-2 platform for Ethereum. According to the recent voting results, the community voted against its plans to extend its Long-Term Incentive Program (LTIP) grant. Arbitrum Holders Vote Against Synthetix Proposal The goal was to support the launch of Multi-Collateral Perps. The [...]
The post Synthetixs Request To Spend 900,000 ARB Rejected: Will Arbitrum Price Recover? appeared first on Crypto Breaking News.
Chainlinks CCIP goes live on ZKsync, empowers developers to create cross-chain DApps, and fosters greater interoperability.
Solana co-founder Anatoly Yakovenko has criticized the Ethereum layer-2 network ZKsync because it still operates like a multisig system despite claims of community-led governance. In a post on X (formerly Twitter), Yakovenko argued that the same “honest majority” assumptions apply to ZKsync because its system’s legal or technical control could easily fall under the jurisdiction […]
The post Ethereum layer-2 ZKsync faces scrutiny from Solana co-founder appeared first on CryptoSlate.
Synthetix faces fierce competition on the DeFi-oriented layer 2.
Anyscale's latest blog post delves into Direct Preference Optimization (DPO) with synthetic data, highlighting its methodology and applications in tuning language models. (Read More)
NVIDIA and MediaTek collaborate to integrate G-SYNC technologies into MediaTek scalers, enhancing gaming monitors and broadening availability. (Read More)
The integration will also offer Bybit users daily airdrop rewards for holding Ethena's USDe.
Binance Futures will launch the SYNUSDT Perpetual Contract on August 16, 2024, offering up to 50x leverage to enhance trading options. (Read More)
Web 3.0 is on the rise, and the industry is booming now more than ever. As the market keeps growing...
PancakeSwap will airdrop 2.4 million ZK tokens to reward its community and boost zkSync PancakeSwap engagement.
Matter Labs stated that its employees were not eligible for the ZK airdrop and did not hand out NFTs to friends or other insiders.
NVIDIA NeMo's T5-TTS model addresses hallucinations in speech synthesis, offering more accurate and natural-sounding text-to-speech output. (Read More)
Meta releases Llama 3.1 405B, enhancing synthetic data generation for various industries using large language models. (Read More)
The CEOs of SunnySide Digital and Cryptech Solutions form a new company Synteq Digital to meet the needs of the growing digital mining and high-performance computing (HPC) industries.
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