DeFi & L1L2 Weekly - 💫 Community Gears Up For Ethereum Dencun Upgrade
DeFi & L1L2 Weekly - 💫 Community Gears Up For Ethereum Dencun UpgradeCommunity gears up for Ethereum Dencun upgrade. BRC-20 creator Domo addresses governance issues with UniSat partnership. Goldman Sachs, BNY Mellon, and others test Canton Network for tokenised assets.
Weekly DeFi IndexThis week's market capitalisation and volatility indices were positive at +7.14% and +27.93%, respectively, while the volume index was negative at -0.69%. Chart of the WeekDomo, the pseudonymous creator of the BRC-20 token standard, announced that his organisation, Layer 1 Foundation (L1F), will partner with Bitcoin infrastructure company UniSat. They will serve as BRC-20's lead maintainers, addressing governance issues within the ecosystem. The BRC-20 token standard operates on the Ordinals Protocol, enabling the trading of digital assets other than BTC on the Bitcoin network. It has sparked a broader discussion about the evolution and governance of BRC-20 within the community, especially when Unisat adopted the Ordinals Jubilee upgrade at the start of 2024 that aims to address the issue of “cursed inscriptions” by reclassifying them with positive numbers, enhancing protocol development and governance. This was then opposed by Domo, citing that the new tech might fragment the BRC-20 ecosystem. The conflict has since divided the crypto community. With this partnership, Domo highlights the crucial role that UniSat has played in driving BRC-20 tokens forward. UniSat is recognised as one of the leading BRC-20 wallet and marketplace providers, with over 13% of the market share by Ordinals trading volume. News Highlights
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Wednesday, February 21, 2024
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DeFi & L1L2 Weekly: 🚀 Ethereum gas fees surge amid the rise of ERC-404
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Ethereum gas prices surge to 8-month high amid the popularity of ERC-404. Ethereum's Dencun upgrade is set to go live on 13 March. Avalanche launches its Durango upgrade on the Fuji testnet. ͏ ͏
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