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🔮 Solana Attracts Oracles From Chainlink to Band as DeFi Ecosystem Gains Momentum
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NEWS Oracles are essential to decentralized finance (DeFi), so the fact that leading oracle projects are expanding their territory to a new blockchain, Solana, could be taken as a good sign for DeFi growing soon within that ecosystem.
LOGIC “[Blockchains] don’t have the ability to speak to the outside world, so they aren’t able to incorporate that into their logic and their contracts,” Kanav Kariya, a strategy director at Jump Trading, an algorithmic and high frequency trading firm, told The Defiant.
DATA So, they need oracles. Oracles collect data outside the blockchain, and feed that information back onto it in a way that the data can be used.
ESSENTIAL A number of oracles are either live on Solana now or on its devnet testing ground. For instance, Band Protocol is live on Solana’s devnet and is just waiting for a partner to launch to mainnet with. And Flux Network, which is currently deployed on Near, is exploring moving to Solana soon, according to Niteesh Settypalli, from the team. Chainlink, the company currently considered the leading oracle provider in crypto, announced on Aug. 25 that it had moved its price feeds from devnet and onto Solana’s main network.
PANIC Wall Street and Washington may be in a panic about the advent of a crypto world. But not the venerable institutions in fine art — they love DeFi.
NEWS Case in point: Christie’s, the 254-year-old auction house, announced this week that it will handle the sale of Art Blocks NFTs on Oct. 1 in New York. The currency being used for the live bids? Ether (ETH), a first for a leading auction house.
SO WHAT Even as the financial industry and its regulators struggle to get a handle on the impact of DeFi, Christie’s and its archrival Sotheby’s have segued seamlessly into the brave new world of digital art and collectibles. In May and June, Sotheby’s auctioned a curated collection featuring an ultra-rare Alien Crypto-Punk. The house has also accepted ETH and BTC as payment for works.
BEEPLE Christie’s, of course, made headlines this March by auctioning off Beeple’s Everyday’s: The First 5,000 Days for a staggering $69M, and followed a couple months later with a set of nine CryptoPunks. But the auction house priced the lots in USD, not ETH. (Beeple was paid in ETH).
📆 Sanctor Turbo Announces Demo Day, Revealing the First Cohort of Blockchain Projects to Graduate from Its Mentorship Program
Sanctor Capitala blockchain-focused investment firm will be hosting its first Demo Day to showcase the inaugural cohort of projects graduating from its custom-tailored mentorship program, Sanctor Turbo. At the live streamed event taking place on September 14th between 2:00pm - 5:00pm Eastern, the founding teams from Koii, Synchrony, and ThorSwap will present their market-ready dApps and platforms, which span the domains of decentralized content ownership, cross-chain DeFi and on-chain asset management. Sign up to attend here.
A bug in the NFT marketplace OpenSea has accidentally destroyed at least 42 NFTs, worth a minimum of $100,000.
High-value traders, not retail investors, are behind Binance Smart Chain’s (BSC) rapid growth, according to a report published Wednesday by the blockchain data firm Nansen.
Explore the new frontier of DAOs in this joint report from Gitcoin and Bankless.
Remember when new tech was... exciting? When tech was about more than bigger screens, exclusive clubhouses, the un-bundling and re-bundling of features? The days when you went out of your way to try the latest thing. Even if it wasn't perfect. Because it wasn't perfect. Because you could see where this was going. Well, have we got news for you.
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🧑💻 ✍️ Stories in this newsletter were written by Brady Dale, YYCtrader, and edited by Bailey Reutzel and Edward Robinson. Videos were produced by Robin Schmidt and Alp Gasimov. Podcast was led by Camila, edited by Alp.
The Defiant is a daily newsletter focusing on decentralized finance, a new financial system that’s being built on top of open blockchains. The space is evolving at breakneck speed and revolutionizing tech and money. Sign up to learn more and keep up on the latest, most interesting developments. Subscribers get full access, while free signups get only part of the content. Click here to pay with DAI (for $100/yr) or sub with fiat by clicking on the button above ($15/mo, $150/yr