Wag Dotcentralized Media! - Newsletter Edition 77
In this week’s edition:
Editorial: US election aftermath, Sub0 Reset, Hyperbridge announcement, Bifrost Waves, Pitch your idea.
Top Story - Resetting Chaos!?: Sub0 Reset Coverage, and other top news items of the week.
Featured Report - Bifrost Staking Waves!: Profile report on Bifrost.
Wag Roundup: News from our Finders Program between November 5th and November 11th.
Extras: Credits and anything else.
Editorial
While the aftermath of the US presidential election has been positive for the markets, there is still a little bit of time before the official ceremony to swear the next president into office. Who knows which promises will be kept after the office seat is warm? And is Polkadot ready for what might be a Golden Age in the Web3 industry?
Meanwhile, the Polkadot ecosystem teams have largely traveled over to Bangkok, Thailand. There, they are getting ready for the Sub0 developer conference, which will be happening between November 9th to 11th. Wait, didn’t Sub0 already happen this year and also in Bangkok?
Well, for our top story this week, we will be providing some coverage of Sub0 and what seems like Resetting Chaos. Additionally, there was something quite hyper that happened, which has managed to precede the event.
As you read this week’s newsletter, some of you have already taken a break from the conference(s) and headed to the beach to stake some waves. If you’re not sure what this means, it might be a good idea to check our featured report. In it, we cover the history and penultimate waves that roll up Bifrost and its future.
Speaking of good ideas, if you have something in mind for the ecosystem then pitch it by sharing on X and submitting it on buildondot.com. We’ve added this to the Bounty Hub with a reward of $100 if it gets featured on the website. Or if you’re looking for content bounties, currently, Bifrost has one.
The US presidential election has put one big question mark on centralized mainstream media, making the case that we are now the media. In a way, this raises the importance of decentralization. Part of the WagMedia ethos is being able to tell your story without reliance on biased media organizations. Join us!
The full newsletter can be enjoyed via this link.
Dodow, Chief Editor
Top Story of the Week - Resetting Chaos!?
Written by yay.oi
Sawasdee Krap Wag fam! Wait, I’ve used that greeting before. That is because we are back in Bangkok for 2024’s second spicy Thai dose of Sub0.
So, to what do we owe this pleasure? Well, it wouldn’t be Polkadot without a little chaos, amirite? EXPECT CHAOS is the mantra often attributed to the initialization of the Kusama network, but elements of its ethos have persisted right through to present day Polkadot.
It was a little chaos in governance that led to the Sub0 Reset. Dissidence had been brewing since the great croissant incident, and eventually rising discontent in the community resulted in Polkadot event organizers Decentered being dealt a decisive blow.
Enter the saviors we didn’t know we needed, WebZero presented a bold alternative to the costly annual Sub0 event in Europe, that would front run DevCon in Bangkok. Their reimagining of Sub0 as a grassroots event focused on Web3 hacker culture and Substrate development struck a chord with the community, and was overwhelmingly approved.
The venue, a five-storey disused industrial building, was the perfect size to house the stages, 24-hour hacker space, and side events all in one location. Graffiti artists were given free rein to decorate every floor, and they made sure that TOD got the best seat in the house.
With the building fully kitted out, emanating an ominous pink glow from every floor, the hacker vibes were strong, and the buzz was building. The rooftop opening party was an absolute banger, reaching full capacity by 8:30pm, and even featuring a suspiciously familiar-looking guest.
While that unlikely fellow was not invited to speak at Sub0 Reset, many from outside of Polkadot were. There were speakers from Avail and Cere, our Substrate-based cousins, while the broader blockchain community was represented by Solana, Cardano, Celestia, and Filecoin...…….
Check out our full newsletter for the full story
Featured Report - Bifrost Staking Waves!
Written by Dodow & Sanchez
All blockchains require a consensus mechanism to agree on the state of the network, which is essential to preserving a decentralized system. This mechanism involves validating transactions and creating new blocks. For some blockchains, staking allows users to participate in this process.
Staking not only supports network security but also offers incentives, with rewards that can be attractive to participants seeking value in the yields. While some may view these rewards as merely inflationary, they can still be appealing when the token appreciates against fiat currency. However, staking often requires a lock-up or unbonding period, which can be restrictive.
This is where liquid staking tokens (LST) or derivatives (LSD) comes into play, and in the Polkadot ecosystem, Bifrost currently reigns supreme. LSTs allow users to benefit from staking yields without the lock-up restriction, meaning they can further use the tokens in DeFi opportunities.
Often describing itself as a dedicated modular liquid staking protocol, Bifrost, an L1 blockchain, supports liquid staking across more than nine blockchains. These include Polkadot, Kusama, Moonbeam, Moonriver, Astar, Manta, Filecoin, and Ethereum.
Co-founded by Lurpis Wang and Zengfeng Wang, Bifrost draws inspiration from the Norse word Bifröst, symbolizing a rainbow bridge that connects humanity to Asgard. This principle is akin to how the protocol connects stakers to liquidity in DeFi..…….
Wag Roundup
Written by yay.oi & Sanchez
The Web3 Foundation has announced the third cohort of Decentralized Voices (DV) delegates. The delegates include ChaosDAO, KusDAO, Saxemberg, Le Nexus, Luck Friday Labs, and Polkadot Hungary, who will be delegated voting powers on Polkadot and Kusama.
Hyperbridge has been launched, enabling the trustless bridging of DOT and other tokens across Polkadot, Ethereum, BNB, Base, Arbitrum, Gnosis, and Optimism. Currently, users can only bridge DOT. More tokens will be integrated soon, with liquidity for DOT made available on these networks. They also announced the launch of their Initial Relayer Offering (IRO) and changed the token name from NAND to BRIDGE.
The Polkadot Blockchain Academy (PBA) has announced PBA-X, a 4-week online course on understanding blockchain technology, which begins on January 6th, 2025. Instructors include Polkadot developers Shawn Tabrizi and Kian Paimani, and participants will be given a certificate of completion.
LAOS Network announces a strategic partnership with Life’s Meta, an AI social simulator. LAOS will help enhance the game with advanced NFT functionalities, boosting player engagement through ownership of digital assets.
Flappy Wud v2.0 dropped on November 9th. To celebrate, Gavun Wud held a massive Flappening airdrop event on November 10th, livestreamed on Polkaworld Pro.
Kylix has teamed up with Mandala Chain to provide institutional-grade lending services to corporations in Indonesia. Kylix will provide the DeFi infrastructure, while Mandala will provide local market and institutional access.
The Sub0 Reset opening party was a hit, reaching capacity at 8:30pm. The attendees that were lucky enough to make it inside enjoyed a tuktuk disco experience with DJs and a live performance by Kukabi, who transforms Polkadot blockchain data into an interactive audio-visual art.
Extras
Awesome cover art created by Dodow.
Sub0 Roundup of some of sessions from the main stage.
For all you budding creators out there, don't hesitate any longer – join us now! There are plenty of rewards awaiting your creativity.