Are you curious about the latest in the crypto world? Here’s a rundown of today’s key trends and events affecting Bitcoin prices, blockchain technology, DeFi, NFTs, Web3, and crypto regulations.
EigenLayer AVS ARPA to launch native restaking rewards soon
ARPA Network, a Web3 protocol built on the EigenLayer restaking framework, is preparing to issue rewards to retakers in its native token, ARPA, starting as early as September, according to Jason Zhao, ARPA's Business Development Lead, in an interview with Cointelegraph.
Restaking involves taking a token that has already been staked—posted as collateral with a validator in exchange for rewards—and using it to secure other protocols simultaneously. This innovative approach allows users to enhance their returns while participating in multiple networks.
"If everything goes smoothly, we aim to distribute [ARPA rewards] by the end of September, but if not, it will certainly be in October," Zhao explained.
In addition to the native token rewards, ARPA is trialing an "incentives program [...] offering additional 'EIGEN' reward boosts" for stakers and operators, according to a statement by Felix Xu, ARPA's CEO.
This initiative will represent the first instance of a third-party actively validated service (AVS) on EigenLayer compensating retakers for securing and validating its network. EigenLayer's internal AVS, EigenDA, already compensates retakers in wrapped ETH (wETH).
This is a significant milestone for EigenLayer and other restaking protocols, which have collectively attracted nearly $14 billion since 2023, as restockers seek to maximize returns on staked Ether.
Paypal and Venmo integrate Ethereum Name Service for crypto payments
PayPal and Venmo have officially integrated the Ethereum Name Service (ENS) into their payment platforms, as announced by ENS Labs on Tuesday. ENS is a decentralized naming system built on the Ethereum blockchain that assigns human-readable names to cryptocurrency addresses.
With this new integration, PayPal and Venmo users can now enter the recipient's ENS name directly in the search field when sending cryptocurrency. The payment platforms will automatically identify the corresponding wallet addresses associated with the ENS name. Initially, this feature will be available to users in the United States, according to the announcement.
ENS Labs stated that this new functionality will help reduce the risk of errors in cryptocurrency transactions on PayPal and Venmo while also simplifying the management of wallet addresses for users. Previously, conducting cryptocurrency transactions on these platforms required users to manually type, paste, or scan QR codes of external wallet addresses to transfer funds.
Second U.S. Firm tZero Said to Become Crypto Broker-Dealer Under SEC Oversight
tZero Group Inc. has announced that it has achieved full registration as a U.S. broker-dealer under a regulatory provision that allows cryptocurrency firms to obtain such status. This milestone follows a precedent set by Prometheum Inc.
This registration as a special purpose broker-dealer, overseen by the U.S. Securities and Exchange Commission (SEC), will enable tZero to take custody of customers' digital asset securities. However, this capability intersects with ongoing legal challenges facing the industry, particularly the SEC's assertion that most cryptocurrency tokens should be classified as securities. As a result, tZero and Prometheum must regard these tokens as securities, even as many in the industry, including numerous issuers, contest this classification.
"Our special purpose broker-dealer status will enable us to offer safe, secure, and regulated broker-dealer digital asset custody, along with other innovative products for issuers, investors, and market participants," stated David Goone, CEO of tZero.
Supported by Overstock and Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, tZero plans to begin offering services for various assets, including private securities, securitized real estate, art, and sports assets, as early as next year. The company will initially focus on the "full digitization of tZero's Series-A preferred equity security," known as TZROP.
Previously, tZero had registered a trading platform as an alternative trading system (ATS). The acquisition of this new license will allow the firm to provide custody, clearance, and settlement services under one comprehensive framework.
Uniswap (UNI) Community Sentiment Grows As Price Surge New ICO Gains Momentum Ahead of Uniswap (UNI) Launch
The Uniswap (UNI) community is abuzz with excitement as Mpeppe (MPEPE) gears up for its highly anticipated launch on the decentralized exchange. With growing momentum surrounding Mpeppe (MPEPE), many investors are keen to observe the coin's performance once it becomes available on Uniswap (UNI). This article explores the reasons behind the attention this new initial coin offering (ICO) is receiving and how the Uniswap (UNI) community is preparing for the next significant development in the meme coin sector.
Mpeppe (MPEPE)’s ERC20 Compatibility: Seamless Integration with Ethereum
As an ERC20 token, Mpeppe (MPEPE) benefits from the robust infrastructure of the Ethereum blockchain. This compatibility ensures seamless integration with a variety of Ethereum wallets and decentralized applications, including Uniswap (UNI). By leveraging Ethereum’s established blockchain ecosystem, MPEPE offers users easy access, facilitating the trading, storage, and utilization of the token. This integration is crucial as it positions Mpeppe (MPEPE) for widespread adoption upon its launch on Uniswap (UNI).
Why ERC20 Compatibility Matters for Investors
ERC20 tokens are foundational to many decentralized applications, and Mpeppe (MPEPE)’s adherence to this standard ensures that it can leverage Ethereum’s liquidity pools and smart contract functionalities. This capability enables smooth transactions and efficient token swaps, particularly on Uniswap (UNI).
Uniswap (UNI)’s Role in Amplifying Mpeppe (MPEPE)’s Exposure
Uniswap (UNI) serves as a vital platform for enhancing Mpeppe (MPEPE)’s visibility and accessibility within the cryptocurrency market. The decentralized exchange allows for direct trading between users, fostering a dynamic environment that can significantly amplify the coin's exposure and potential adoption among investors.
IBN Announces CryptoNewsAudio Production Featuring Chris Were, CEO of Verida
LOS ANGELES, Sept. 10, 2024 (GLOBE NEWSWIRE) — IBN, a comprehensive communications organization dedicated to connecting public companies with the investment community, is pleased to announce the release of the latest CryptoNewsAudio production as part of its ongoing efforts to provide specialized content distribution through extensive syndication channels.
The latest audio production from CryptoCurrencyWire features Chris Were, Co-Founder and CEO of Verida, a trailblazing decentralized data network and self-custody wallet that empowers users to control their digital identity and personal data.
During the interview, Chris shared insights into his background before introducing Verida and its core mission.
“In high school, I began by building websites, and over time, that evolved into developing web applications within the Web 2.0 space. Recently, I've shifted my focus to Web3 and blockchain technology,” Were explained. “Throughout this journey, I’ve worked on a variety of fascinating projects, ranging from algorithmic stock market trading to real-time search engines. One of my significant ventures was a company focused on creating CRM software for nonprofit organizations, which involved managing a great deal of sensitive personal information. This experience taught me a lot about securing personal data and brought me face-to-face with the challenges in that area.”
“That particular business opened my eyes to a crucial issue around technology and digital identity – who owns and controls our personal data and how it is used. This realization was the driving force behind the creation of Verida and the idea that blockchain and decentralized technology could be applied not just to crypto assets, but also to issues of identity and data ownership.”
“Verida is derived from the words verification, identity, and data, which are central to our mission. We believe in individuals owning their identity and data, with everything being verifiable. In today’s world, large tech companies hold control over this data, dictating how it is used. They profit from it, and they alone can innovate with it, limiting the user’s ability to do so. Our vision is to empower everyone to take ownership and control of their data. This data should serve us and improve our daily lives."
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