SUM Week! - Newsletter Edition 108
In this week’s edition:
Editorial: Crypto Week declared! Recap the talking points from the Web3 Summit.
Top Story - Proof of Summit!: Proof of Personhood, DOT supply, onboarding users, privacy, and more were covered in Berlin at the Web3 Summit.
Wag Roundup: News from our Finders Program between July 17th to July 21st.
Extras: Credits and anything else worth a mention.
Editorial
What is up, my friends!
With Crypto Week being declared, the stage was set for the most pro-digital asset administration in the history of the USA. Acting out, the Genius’s approved, along with Clarity and Anti measures passing the floor.
As the Bitcoin strategy continues to stretch, and the wise move to index DOT, could it be time for alts to shine? Perhaps we should be ready to take some action? Then again, we may have hit a slight pause.
Meanwhile, Web3’s finest, including Dr Gavin Wood, gathered in Berlin. This week’s Top Story picks up on the key talking points from the Web3 Summit, with Proof of Personhood, as briefly touched on last week, among them.
As per usual, we’ll be summing up DOT ecosystem news, though a little earlier this week.
Dodow, Chief Editor
Top Story of the Week - Proof of Summit!
Written by yay.oi
What’s ahead, roadies? While the DOT tokenomics debate rolls on, treasury approvals seem to be riding in the slow lane. One referendum stuck in a JAM this week is 1666, which requests $250K for an Inter Miami fan engagement app.
Capitalizing on the broad reach of Lionel Messi to onboard normies to Polkadot may have been an easy AYE in Polkadot’s big spendin’ days, but now fiscal caution may be gaining traction. Still, our founder and chief architect isn’t backing down. He’s gearing up to spend big to bring the mainstream market onboard.
Gavin Wood’s headlining keynote at last week’s Web3 Summit was titled Polkadot: Road Ahead. In it, he presented some ideas for adjustments to the ecosystem economy and how proof of personhood could play a role.
According to the Kus, Polkadot outflows totalled $1.55B over the last two years, with a large portion of that going to nominators. This is roughly in line with Gav’s estimate that Polkadot spends $500M per year on security.
While it is a jaw-dropping figure, it is not out of line with other highly decentralized and secure protocols. Ethereum’s annual security spend isin the region of $2.5B, while Bitcoin’s was recentlyestimated to be more than $16B.
Continue with this week’s top story: Proof of Summit!
Wag Roundup
Written by yay.oi
News found by the community. Curated by the community. Backed by OpenGov.
Decentralized social networking parachain Frequency has just tuned in to the major milestone of 2M new user activations.
The Hyperbridge x Bifrost DeFi Singularity liquidity incentive campaign is now live. APRs of up to 29%, paid out in vDOT, are now available for DOT-ETH pools on Ethereum, BNB Chain, Base, and Arbitrum.
Charging past one-third of a billion, Hydration’s TVL is now in excess of $350M.
GIGAHydration Incentives are now live for OriginTrail’s TRAC (Snowbridge) token in the Hydration Omnipool, offering APRs of up to 69%.
Wegainst, in collaboration with Moonbeam and Flamengo E-sports, has dropped FLA Vultures: The Sentinel Collection on Rarible. This limited release of 500 free mints offers holders early access to the Wegainst game, a Flamengo-themed weapon, and fast-tracks access to future collectibles.
The Web3 Foundation is now accepting applications for Cohort 5 of the Decentralized Voices program. Up to 10 DAOs will be delegated 2M DOT and 30K KSM of voting power, while the new DV Guardians grant voting power of 200K DOT and 5K KSM to up to 8 doxxed individuals.
Headlining Day 1 of the Web3 Summit, Gavin Wood’s keynote Polkadot: The Road Ahead delved into JAM delivery and governance, the viability of ZK, economic reform, and the potential role of proof of personhood.
Kevin Shift released an episode of DROPS featuring Mythical CEO John Linden on July 20th. They discussed topics such as why Mythical chose to build on Polkadot, and what the future of Web3 gaming holds.
Full Wag Roundup July 17th to July 21st.
Extras
SUM Fine cover art created by SKULLZ.
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