Index Coop announced the launch of the Market Neutral Yield token MNYe (pronounced “money”), a tokenized strategy that gives holders access to a compelling source of USD-denominated yield by executing a basis trading strategy on Perpetual Protocol’s Optimism market.

With MNYe, holders can earn a variable yield, settled in USD, that is not dependent on inflationary protocol incentives and has no price exposure to Ethereum. This is Index Coop’s first product to be released on Optimism’s Ethereum layer 2.

The Market Neutral Yield token democratizes a basis trade strategy that is most commonly performed by hedge funds and sophisticated financial professionals. The MNYe token simplifies this complex trading strategy into a simple erc20 token that is liquid on Optimism and composable throughout the network’s growing DeFi ecosystem.

Basis trading, also known as cash and carry arbitrage, is an established strategy for achieving price-neutral profit by arbing the difference between an asset price on the spot and near-term futures markets. In DeFi, perpetual swaps – also called perpetuals or perps – can be used in lieu of futures. First implemented by BitMEX, perpetuals are futures with no settlement date.

The MNYe product takes simultaneous long spot and short perpetual positions and derives yield from the funding rate, which is generally paid by long perp positions to short perp positions. By taking a fully hedged position, the product has no net asset price exposure. MNYe will use a 1x long ETH spot position and a -1x short ETH perp settled in USD. The yield will be further enhanced by thrice-daily auto-compounding when the USD funding balance is positive. The yield is used to maintain a leverage position between -1x and -2x.

MNYe is the second of Index Coop’s yield bearing products, after the Interest Compounding ETH Index (icETH), fulfilling the mission to create decentralized financial products that unlock prosperity for everyone.

About Index Cooperative

The Index Cooperative is a decentralized community powering crypto index products that can be purchased on a blockchain. Index Cooperative’s structured products provide one-token exposure to popular crypto themes such as decentralized finance, the Metaverse, blue chip NFTs & yield generating strategies such as ethereum staking.

DeFiChain, the world’s leading blockchain on the Bitcoin network dedicated to bringing decentralized financial applications and services to everyone, is thrilled to announce that its community has voted to offer lucrative liquidity mining rewards for the ERC-20 format of its native DFI token pairs on Uniswap. The proposal put forth by DeFiChain’s Lead Researcher received more than 96% votes in favor.

DeFiChain has allocated one million DFI tokens from the Community Fund to incentivize liquidity mining for the DFI-ETH, DFI-USDT, and the new DFI-USDC pairs on Uniswap.

The Community Fund receives a small percentage of the block rewards and has accumulated over 27,092,291 DFI tokens, which are available to anyone interested in developing on the DeFiChain blockchain. However, funds are only released if more than 51% of the nodes agree to the proposal. Masternodes are eligible to sign a message to either agree or deny a proposal.

With leading exchanges like Bybit and KuCoin now supporting DFI in ERC-20, the DeFiChain community voted to increase the token’s utility in the ERC-20 format. The incentives are aimed at increasing the trading volume of the ERC-20 format of DFI, and boosting the visibility and awareness of DFI in the wider DeFi ecosystem. The increased trading volume should also encourage more adoption of DFI by other exchanges and services.

Santiago Sabater, the CEO of DeFiChain Accelerator said, “With the new liquidity pools and the various upcoming projects to increase the utility of DFI on ERC-20, DeFiChain’s adoption is growing massively. DeFiChain is opening the gates to offer its decentralized assets such as decentralized stocks, commodities and ETFs to the whole DeFi community on the Ethereum blockchain. This will result in massive capital inflows, pleasuring DeFiChain’s investors while creating new use cases for Ethereum users.”
The liquidity mining rewards will be distributed in the following manner:

• DFI-ETH pair at 0.5 DFI per Ethereum block
• DFI-USDT pair at 0.25 DFI per Ethereum block
• DFI-USDC pair at 0.25 DFI per Ethereum block

In total, one DFI token will be distributed per Ethereum block. Just like DFI emission rate on DeFiChain mainnet, block reward is scheduled to reduce by 4% every 7 days (in blocks) starting 9AM UTC on August 22. Before that, rewards will only be distributed at a constant rate of 1% of the above rates. It is estimated to allow the reward to sustain well over a year.

A smart contract will be published on Ethereum mainnet that allows the rewards to be paid out in accordance to the schedule. Upon publishing of the smart contract, DFI will be placed in the smart contract in tranches, for safety reasons.

An accompanying decentralized app will be launched for liquidity providers to take part in the liquidity mining program.

About DeFiChain

DeFiChain is a decentralized Proof-of-Stake blockchain created as a hard fork of the Bitcoin network to enable advanced DeFi applications. It is dedicated to enabling fast, intelligent, and transparent decentralized financial services. DeFiChain offers liquidity mining, staking, decentralized assets, and decentralized loans. The DeFiChain Foundation’s mission is to bring DeFi to the Bitcoin ecosystem.

Metrika, the leader in operational intelligence for blockchains and distributed ledger networks, today announced a collaboration with Hedera to provide enhanced visibility and transparency for the different applications across the company’s network ecosystem – creating a best-in-class experience for Web3 application developers. The Hedera network ecosystem will now have access to Metrika’s industry-leading blockchain and Distributed Ledger Technology (DLT) monitoring and analytics platform, offering the community unprecedented on-ledger metrics and visibility into the performance of the network at any given time.

Hedera is a proof-of-stake, public DLT network for building and deploying decentralized applications. Application developers building on Hedera will now be able to access Metrika’s advanced metrics on transaction volume, time to consensus finality, account growth, and leaderboards for Hedera network service usage, such as managing fungible & non-fungible tokens and interactions with smart contracts.

Metrika’s dashboards provide developers end-to-end visibility into the operational health of the ledger, allowing them to ensure their applications are running at a high level of performance and resiliency – while simultaneously guaranteeing a level of transparency that encourages overall adoption of the Hedera network.

“Ensuring operational trust is central to Hedera’s mission of creating a public network for everyone,” said Alex Popowycz, Chief Information Officer at Hedera. “Metrika’s network dashboards are integral capabilities and a continuation of our commitment to make Hedera the home for fast, fair, and secure applications you can trust. As we work toward that mission, Metrika’s platform will provide the needed visibility into Hedera’s network, allowing developers and node operators to meet their full potential within our ecosystem.”

“We are thrilled to support Hedera in their commitment to transparency, specifically its efforts to make the activity, status, and overall health of the network available to developers and community members as accessible as possible,” said Nikos Andrikogiannopoulos, CEO of Metrika. “These actionable insights into the health of the Hedera network will be critical to scale and drive mainstream adoption.”

Metrika was founded in Cambridge, Massachusetts, out of a deep commitment for making blockchain networks dependable as they scale for web3. Metrika currently works with leading blockchain ecosystems and industry groups such as Algorand, Algorand Foundation, Dapper Labs, Flow Foundation, Axelar, IDB Lab, LACChain, Blockdaemon, Hyperledger Besu, ConsenSys, ConsenSys Quorum, Blockchain Association, Global Blockchain Business Council and more.

For more information on the Metrika operational platform and the additional customized offerings, please visit www.metrika.co or check out the full platform experience for network communities at app.metrika.co. To view the Hedera dashboard, please visit: https://app.metrika.co/dashboard/hedera/network-overview.

About Metrika

Metrika provides the industry’s only operational intelligence platform for blockchain and distributed ledger networks and applications, including cryptocurrency and gaming applications, where ongoing optimal performance is essential. Using its Metrika Insights platform, blockchain communities, node operators, and applications gain the visibility, actionable insights, and tools needed to maintain the performance of the overall network and ensure ongoing trust as it becomes more decentralized and distributed. For more information, visit us at www.metrika.co or follow us on Twitter at @Metrikaco, or Discord.

About Hedera

The Hedera network is the most used, sustainable, enterprise-grade public ledger for the decentralized economy. The platform is governed by a council of the world’s leading organizations, including Avery Dennison, Boeing, Chainlink Labs, DBS Bank, Dentons, Deutsche Telekom, DLA Piper, EDF (Électricité de France), eftpos, FIS (WorldPay), Google, IBM, the Indian Institute of Technology (IIT), LG Electronics, Magalu, Nomura Holdings, ServiceNow, Shinhan Bank, Standard Bank Group, Swirlds, Tata Communications, Ubisoft, University College London (UCL), Wipro, and Zain Group.

For more information, visit https://hedera.com, or follow us on Twitter at @hedera, Telegram at t.me/hederahashgraph, or Discord at https://hedera.com/discord. The Hedera whitepaper can be found at https://hedera.com/papers.

Equito Finance, a Decentralized Exchange on the Algorand blockchain, has announced that it will launch its Testnet 2.0 in August. Furthermore, the cross-chain-supported exchange revealed that the highly anticipated incentivized Testnet 2.0 would go live on the 1st of August, 2022.

According to the team, the Testnet will include incentives for the first 3,000 testers with opportunities to earn even better incentives for participation.

In explaining the incentive model, the Equito Finance developers revealed that testers would be rewarded with special Equito Finance NFTs with unique value. Holders of these NFTs will automatically be eligible for Equito Finance’s EQI governance token, which is scheduled to be released later this year. That said, each holder will receive their EQI at launch. In addition, the owner can sell their NFT, and anyone can purchase more from Equito’s collection on the ALGOxNFT marketplace.

The Testnet 2.0 Incentives

The special incentives are designed to reward testers for taking part in the Testnet. The rewards will then be distributed and assigned in a strategic way based on their level of commitment to the project.

The first tier of incentives consists solely of a common NFT. This will be made available to the first 3,000 testers. Users who are not part of the first 3,000 testers will still have a chance to receive one or both of the next two tiers.

Equito will only pay the tier 2 winners and the best average overall. The tier 2 winners will be rewarded Tier 2 winners will receive $150 USDC each and the tier 3 winner will receive $550 USDC. Again, only the tester who bridges the most liquidity, adds the most liquidity to the liquidity pool and swaps the most will receive these rewards.

About Equito Finance

Equito Finance is a cross-chain Decentralized Exchange on the Algorand blockchain ecosystem where users can swap and earn on a true cross-chain Dex. Behind the project is a highly motivated community of developers.

One of their primary goals is to constantly seek social innovation in the financial market by adapting the best technological solutions to major market problems such as accessibility, security, and liquidity.

Equito Finance aspires to be an open protocol for issuing, managing and accessing securities and crypto assets on the primary and secondary markets. The initiative is motivated by a desire to create a strong, open, and trustless financial market where bids and asks meet without the involvement of third parties.

Double Protocol, the fully decentralized Rental Protocol for utility NFTs renowned for pioneering the NFT rental standard ‘ERC-4907’, has revealed its roadmap for 2022-2023, which lists a number of goals that Double Protocol is working towards in order to achieve its mission of unlocking the liquidity of utility NFTs. Some of the features planned for utility NFTs according to the roadmap include leasing, subscription, rent-to-own (buy-now-pay-later), IP licensing, and usage rights transactions. Double Protocol is the project developed by Emoji DAO.

ERC-4907, which received ‘final’ status last month to become the 30th ERC standard on Ethereum, is a revolutionary token standard that streamlines NFT rentals by introducing dual roles of ‘owner’ and ‘user’ at the token standard layer. This makes the NFTs rentable by default and allows NFT projects to adopt the standard by adding just a few lines of codes to check whether an address is the current valid user or the owner.

This allows NFT projects to spend more time working on the product instead of focusing on the NFT rental functionality at the application layer. Further, the application of this standard greatly reduces the development and integration costs of utility NFT leases such as in games, metaverses, and membership cards, enabling more liquidity of NFT assets.

Double Protocol has already deployed its rental protocol on both the Ethereum mainnet and BNB chain and plans to expand to other major EVM chains like Polygon by the end of 2022 and eventually to non-EVM chains like Solana by 2023.

The first goal on the roadmap in 2022 is the launch of the ‘subscription’ feature. The ‘subscription’ feature will begin with the launch of ENS subdomain issuance going live at the beginning of August. As a part of the development of its subscription feature, Double Protocol has also proposed ERC-5007, a time-based NFT token standard designed for subscription NFTs.

Other goals planned for 2022 include launching support for the rental of ERC-1155 NFTs and the rent-to-own feature. In order to support the rental of ERC-1155 NFTs, Double protocol has introduced ERC-5006 (an ERC-1155 compatible version of ERC-4907) which is now in the status of ‘review’. As for its ‘rent-to-own’ feature, it can be simply described as a form of ‘buy-now-pay-later’ feature.

The rent-to-own feature will allow an individual to eventually buy a utility NFT by paying part of the price of the NFT in the beginning and gaining access to the usage rights of the NFT in the form of ‘renting’. Once the individual pays the whole price of the NFT over a duration of time, they switch from ‘renting’ to ‘owning’ the NFT. This feature will be extremely useful for allowing users to purchase valuable NFTs that would be unaffordable otherwise.

Coming to the 2023 section of the roadmap, there are two goals that immediately catch our eye, i.e., the launch of two additional features for utility NFTs- the ‘Free Trial’ and ‘licensing’ features.

The ‘free trial’ feature allows projects such as games and metaverses to grant new users access to usage rights of utility NFTs temporarily. This allows the projects to onboard new users by providing them true access to the full premium experience of the product. The ‘licensing’ feature, on the other hand, will enable partnered projects to share the usage and other IP rights of the NFTs with the licensee under customizable timeframes and compensations.

While all the features spoken of so far may seem like very different business applications of ERC-4907, the underlying business logic for all of them has the same foundation: the trading of usage rights for a given period of time. In addition to these features, Double Protocol is also planning the launch of two ‘tools’- the ‘collection management’ tool and the ‘guild management’ tool in 2022 and 2023 respectively. All of these goals on Double’s roadmap signal a truly exciting and utility-packed future for the protocol.

Torches Finance, the decentralized lending protocol, announces the official launch of TOP — Torches (TOR) token Points — Mining. By participating in the supply-and-borrow feature, users will be able to obtain TOP rewards, which can be exchanged for TOR tokens with a certain coefficient before the TOR token launches.

Built on the KuCoin Community Chain (KCC), Torches grew to the top lending protocol with its total market size at more than $3 million. Starting from July 15 at 10 am UTC, Torches allows users to get TOP rewards for supplying or borrowing crypto assets available on the platform. In addition, Torches will open burning and boosting periods from July 18, and users can boost the mining rate up to 900% by burning Torchlight, the Genesis nonfungible token (NFT) collection of Torches Finance, within the specified time. Different Torchlight rarities have different TOP Mining-boosting buffs. Currently, Torchlight can be traded on the MojitoSwap NFT Marketplace.

With its rapid growth, Torches achieved one significant milestone after another. On July 8, Torches announced a strategic investment by KuCoin Ventures, the leading investment arm of the global crypto exchange KuCoin. Then, it developed a strategic partnership with KuCoin Wallet on July 9. Torches, the top lending protocol deeply incubated by KCC, will receive multiple resources from KCC, including products, market, liquidity support and more. As the infrastructure of KCC, Torches is expected to further cooperate with KCC in the future to improve users’ asset utilization and enrich the on-chain decentralizd finance (DeFi) ecosystem.

Eric Spark, chief media officer of Torches said, “We are honored to have received the support of KuCoin Ventures and KCC in the early stages. As the infrastructure of KCC, Torches is committed to being the most convenient and popular lending protocol on KCC and even in the whole decentralized world. In addition to exploring technology and products, we also hope to bring users a better on-chain experience through various activities. TOP Mining is not only an incentive for Torches’ liquidity providers in the early stages [but] it also allows more users to enjoy the seamless crypto lending experience that Torches offers. By improving users’ asset utilization and enriching their crypto investment options, Torches will open the door of a decentralized world for more users and accelerate the development of the KCC ecosystem.”

Currently, the smart contract on Torches has been audited by PeckShield, and both parties have made multiple optimizations on smart contract permissions, oracle mechanisms and operation logic. With the release of a series of operational activities such as TOP Mining, Torches will significantly increase its market exposure and share and is expected to become the first phenomenal DeFi project on KCC.

About Torches Finance

Torches Finance is a decentralized lending protocol based on KCC, supporting mainstream crypto assets such as Bitcoin (BTC), Ether (ETH), KuCoin Token (KCS), Tether (USDT), USD Coin (USDC) and more. Users can earn TOR tokens by both depositing and lending assets on Torches Finance.

Visit Torches Finance: torches.finance.

About KCC

KCC is a public chain project initiated and built by the developer community of KCS and KuCoin, aiming to solve the network latency and high gas fees of Ethereum. KCC is Ethereum-based and compatible with Ethereum Virtual Machines and smart contracts to provide community users and developers with a higher-speed, more convenient and lower-cost blockchain experience.

Visit kcc.io to learn more.

DEXILON, the fully decentralized derivatives exchange, today announces its testnet launch, paving the way for institutional-grade trading derivatives.

DEXILON is a next-generation decentralized derivative exchange and ecosystem which can be utilized to launch derivative contracts for non-crypto assets such as metal, energy and soft commodities, and foreign exchange (FX).

DEXILON – which has raised $2M in seed funding – is backed by GSR, Youbi Capital, Fenbushi Capital, Ledgerprime, and Cipholio Ventures.

“Unlike black box centralized exchanges and slow and expensive decentralized exchanges (DEXs), DEXILON has radically transparent trading logic with lightning execution and highly competitive costs,” said Co-Founder Maksym Aptilon.

“We are creating a first-in-class, institutional-grade derivatives DEX infrastructure.”

This is all made possible with native blockchain developed specifically to operate a decentralized exchange. The native chain is built on top of the Cosmos SDK and, together with a decentralized matching engine and proprietary oracles, DEXILON aims to open up a new era of trading derivatives.

A heaven for market makers, DEXILON offers a combination of best trading execution perks with a revolutionary fee structure, all aimed to substantially reduce the cost of running market making. For example, there is no gas cost for the trader but rather it is covered as a portion of taker fees. “Once we reach deep liquidity, retail will follow in search of more transparent ways to trade derivatives,” Maksym continues.

DEXILON aims to be the cheapest all-in trading solution, boasting features to protect the market from flash crashes. For this, the team developed an innovative liquidation pool where users can bid for a liquidated position instead of selling them off in the market. The idea comes from a traditional finance strategy called block trading. “We are creating new profit frontiers unseen in other exchanges,” Maksym said.

Founded in 2021, DEXILON plans its mainnet launch for later this year.

Now there is no need to buy expensive equipment and pay for electricity, you can simply buy virtual miners from Tothesmart and earn up to 5% per day in passive income.

What is Tothesmart?

Tothesmart is a Play to earn mining Farm built on the Binance Smart Chain blockchain.An open smart contract with a unique mathematical model based on the successful mining model of bitcoin and other cryptocurrencies.

The goal is to create a large international community and further develop the Tothesmart ecosystem in the cryptocurrency market, where all early community members will be generously rewarded when launching new product.

It works simply. Users buy miners and each miner brings in 1 MineToken every second. You can sell the tokens for Stablecoin Busd or reinvest in buying miners to earn more.

In the project there is an Ambassador program, participants can earn income from each purchase of miners as well as income of their followers for 7 generations in depth. The full analysis of the Ambassador program can be found on the https://tothesmart.com website in the WhitePaper section.

Another big difference of Tothesmart is that not only the fastest and the first one win, the last one gets everything!

Thanks to the Time Pool mechanism you won’t have to worry about being the last player to buy miners. To be the last – it means to win.

1% of each purchase and sale in the Tothesmart contract is transferred to the Time Pool smart contract.

If no one else has bought any miners within 60 minutes of your purchase, the entire Time Pool balance is automatically transferred to your wallet address. Anyone can be a winner!

Anti-KIT Functions

The problem with all these miners is that the user who came in at the very start of the project is making a super profit by rapidly increasing the balance of the contract from zero to first million.We have solved this problem and made our economy balanced and stable, thanks to a formula that will add Busd to the current balance up to an amount equal to 500,000 Busd, until the balance of the contract has overcome this mark.

Also in the smart contract included a free bonus. Anyone can get 10 Busd worth of miners as a gift at the current rate.

Tothesmart has a good chance to get into the top PlayToEarn projects this year.

You can join the international community right now:

Website https://tothesmart.com
Audit https://hazecrypto.net/audit/tothesmart
Telegram channel https://t.me/tothesmartofficial
Community chat https://t.me/tothesmartofficialchat
Twitter https://twitter.com/tothesmart
YouTube https://www.youtube.com/channel/UCgnx3zkNtzWe7JIbxettbKQ

The need for projects with real-life use cases has been a major topic for discussion in the blockchain ecosystem. This is because these projects can directly impact lives, change the narrative around cryptocurrencies and massively drive their adoption among everyday people.

More than ever, we’ve seen an increase in the number of these projects, each focused on improving different aspects of human experiences using blockchain technology and cryptocurrency as a tool. An example of such is EcoCashew, a fast-rising project combining the world of charity, blockchain, and mechanization to impact the life of Cashew farmers in Africa.

In recent news, the project announced its 23.5 Million Euro partnership agreement with a major European food group in the pipeline. This is a big step as every cause, no matter how noble, requires the right partnership to achieve true success, and Eco Cashew is evidently on its way to success with the partnership agreement in the works.

What is EcoCashew?

EcoCashew is an innovative project using asset-backed CashewF tokens and blockchain technology to enable West African cashew producers to receive fair trade prices and earn an honest livelihood.

The project intends to build a processing facility in West Africa, where 50% of world’s Cashews are cultivated so as to process farm products locally rather than sending them to Asia as has become customary. Through this manufacturing facility, they will be able to reduce the cost of round-trip transportation, which will be diverted to increasing the farmers’ revenue, pay token holders, and provide locals with stable employment opportunities.

Also, to achieve this goal, EcoCashew has created CashewF and Cashew tokens, which are cryptocurrency coins on the Cardano network. These tokens provide everyone the chance to take part in a worthy cause and earn APY on their token holdings.

The project is led by Mr. Ronald Buijk, with over 25 years of experience in West Africa and an understanding of the region’s dynamics in order to effectively execute a cashew processing factory in the region. The initiative is focused on attaining the United Nations Sustainable Development Goals using their own dynamic approach.

Why should anyone be a CashewF token holder?

The CashewF token gives a dual opportunity to every investor. A chance to do good and an opportunity to enjoy massive profit on investment. Currently, to raise money for the manufacturing facility, EcoCashew is selling the first 7 Million CashewF coins at an enormous discount. This presents an opportunity for investors to get in early and enjoy early supporters’ benefits at a meager cost.

For instance, the EcoCashew structure provides a 24 months reward program where every holder of 1000 CashewF tokens or more enjoys 12% APY, i.e., 1% nominal profits monthly from the moment of activation of the factory. These earnings will be automatically remitted to all ADA wallets like Eternl, Yoroi, Nami, etc., where the owners have total control over their ADA and other tokens like CashewF.

EcoCashew is reinventing cashew processing in Africa while changing the narrative for farmers and returning cryptocurrency income back to investors. Simply revolutionary.

EcoCashew ISPO and how to participate.

ISPO is a crypto acronym that stands for initial stake pool offering. It is a novel technique for crypto fundraising and was first launched on the Cardano blockchain.

In recent news, EcoCashew announced its ISPO event scheduled to take place on the 9th of July alongside the different highly trusted stake pools which will be participating in the EcoCashew ISPO. This will enable them to reach, collaborate and engage more Cardano crypto community.

These staking pools include [AAA] AAA Stakelovelace, [APEX] Apex Cardano Pool, [OYSTR] Oyster Pool, [VENUS] Fresco Pool, [ZEBRA] Zebra Staking.

The event set for the 9th of July will run for 7 Epochs, with each Epoch providing access to 50,000 CashewF tokens (5% of 10 Million). This will total 350,000 CashewF tokens airdropped over the 7 Epoch duration.

To be eligible to receive your CashewF through the Vending Machine, join the Staking Pools by delegating your  ADA in your private Cardano wallet today to one of ISPO pools listed above.

Future plans and Projections.

The EcoCashew project is highly driven and focused on achieving their goals with various projections on what is to come. One of the plans ahead is the integration of limited edition NFTs with the SDGs as the topics. This will be awarded to ISPO participants who allocate at least 500 Cardano – ADA during the course of the EcoCashew ISPO 7 epochs.

Additionally, a distributor in Europe who wants to purchase as many cashews as possible from the Future EcoCashew Fair Trade factory in West Africa is about to sign a three-year, $24 million contract with them because they believe it to be a wise and sustainable course of action that merits their support.

Indeed, the EcoCashew project is a highly innovative and novel solution solving real life problems for everyday people in Africa while benefiting others from every region of the world.

For more information on EcoCashew, Visit:

https://ecocashew.com/ https://youtu.be/IGz1lLL4_0Y www.ecocashew.com/assets/pdf/cashewf-whitepaper.pdf

Media Contact:
Emile Schoemaker
[email protected]

Wanchain has successfully launched its new Saturn hard fork, which introduced several network improvements and completely overhauled the network’s fee market. The Saturn hard fork was activated at Block 21,454,700 at 06:47 am UTC on July 5.

The Saturn Hard Fork

With the Saturn hard fork upgrade, each transaction on Wanchain will involve burning a base fee, which automatically decreases the WAN circulating supply – in a process similar to that of Ethereum’s EIP-1559. Additionally, the Saturn hard fork upgrades Wanchain’s EVM, making it fully compatible with the Ethereum London EVM.

EIP-1559 Protocol to Increase Deflation

The introduction of the EIP-1559 protocol makes major adjustments to the network’s fee market and serves as a sustainable WAN burning mechanism. Now, every transaction includes a base fee that is burned, thereby reducing WAN circulating supply and adding deflationary pressure on WAN. The Saturn hard fork also introduces the concept of a “tip,” or priority fee, that users can choose to pay if they want their transactions to be prioritized by the network.

EVM Opcodes and SHA-3

Saturn also upgrades Wanchain’s EVM to be fully compatible with Ethereum’s London EVM by supporting the latest EVM opcodes. This increased interoperability enables Solidity developers to more easily migrate their applications to Wanchain. For instance, as a result of Saturn, Ethereum-based tools such as MetaMask, Remix and Truffle are now fully compatible with Wanchain.

Saturn further adds support for new cryptographic hash functions, including SHA-3. Adding native support for SHA-3 offers performance and versatility benefits and increases interoperability with projects using SHA-3.

Gas Limit Adjustment

Saturn additionally adjusts Wanchain gas limit per block to 50 million, which influences the number of transactions that can fit in a block. Wanchain’s gas limit per block is now higher than Ethereum’s, which is set to 30 million. As a sustainable PoS network, Wanchain achieves this without sacrificing the network’s high transaction speed and low transaction fees.

The Saturn hard fork represents the biggest technological leap forward for Wanchain with numerous advancements in the protocol, with improved functionality, performance, and cost, as the company sets off on a deflationary path forward.

About Wanchain

We are all connected — Wanchain, the Wide Area Network chain, is the world’s premier decentralized blockchain interoperability solution. The company’s mission is to drive blockchain adoption through interoperability by building fully decentralized bridges that connect the world’s many siloed blockchain networks. This cross-chain infrastructure empowers developers to build truly decentralized cross-chain applications to power the future of Web3.