Biweekly Moonbeam News: 5/1/2023-5/8/2023
Your Go-To Source for Shedding Light on All Things Happening in the Moonbeam and Moonriver Ecosystem
The Downtown Moonbeam Newsletter is designed to keep you up-to-date with the latest developments in the Moonbeam and Moonriver ecosystems. Our articles go through a meticulous editorial process to make sure you're getting a high-quality, entertaining read. Who knows, through this newsletter, you might uncover fresh insights and new opportunities. Enjoy!
MOONBEAM and MOONRIVER Network Updates:
Moonbeam Referendum.
Michigan Blockchain recently submitted a TEMPERATURE CHECK snapshot to reactivate the deployment of Uniswap v3 on Polkadot's EVM-compatible parachain, Moonbeam. The voting results came in with full support (100% Yes).
Uniswap's strategic deployment on Moonbeam signifies a promising step towards achieving heightened market penetration and establishing market dominance within the Polkadot ecosystem. With the introduction of XCM and the XC-20 token standard, Uniswap can now support non-ERC-20 tokens, enabling frictionless liquidity access across the entire Polkadot ecosystem. This significant breakthrough is poised to promote growth for Polkadot, Moonbeam and Uniswap, unlocking new potential for cross-chain innovation and collaboration. Full proposal can be read here.
Referendum #93 Open/Accept HRMP channel with HydraDX and Register Asset xcHDX.
The HydraDX team has proposed a bilateral channel connecting Moonbeam and their network. The primary objective is to facilitate smooth and seamless transfer of $GLMR tokens between the two chains, This strategic move holds vast potential for future expansion into other use cases beyond its initial objective. The proposal has received unanimous support from voters, with 100% aye.
Moonriver Updates
A proposal aims to extend the ITP for the next six months, featuring minor modifications tailored to accommodate the forthcoming release of Polkadot OpenGov on Moonriver. Prior to initiating a Referendum on both Moonbeam and Moonriver, the proposal intends to circulate the draft among the community to elicit feedback and assess support. The proposed Renewal Period is scheduled to commence on April 26th, 2023, and continue through October 31st, 2023, with corresponding budget allotments earmarked for both Moonbeam and Moonriver. The proposal seeks to balance the present needs of the ecosystem with its long-term viability. Cast your vote now!
Upcoming Event
Moonbeam Mondays!. Hosted by Bit Hotel
Community
StakeBaby has recently introduced a comprehensive proposal to upgrade both the StakeGlmr and StakeMovr platforms with a brand-new architecture aimed at enhancing speed, scalability, durability, and overall user experience. The proposed design features a cutting-edge staking interface, a robust emphasis on promoting diversification, and the use of a cost-efficient, two-layer approach. The upgrade aims to elevate not only the user experience but also increase the total percentage of staked tokens, thereby fostering a more robust network. To fund the initiative, the project is requesting $44,800 to hire two senior developers for a period of four months, with the funds being divided between the Moonbeam and Moonriver treasuries in an 80-20 split.
https://forum.moonbeam.foundation/t/proposal-xx-stakeglmr-com-and-stakemovr-com-v2-treasury-proposal/801Experimental Feature: GMP Precompile for Automatic Liquidity Routing.
The Moonbeam team has recently revealed a proof-of-concept that demonstrates the potential of receiving tokens through the Wormhole protocol and forwarding them to another relay or parachain via XCM. To achieve this, the feature employs the Contract Controlled Transfer function of Wormhole, which empowers the token transfer recipient to invoke its own bridge contract's completeTransferWithPayload() function. This presents the potential for a user-friendly experience where users can easily choose the token to send and the destination chain or account to receive it. Nevertheless, the feature requires further development and testing before it can be fully functional. This includes supporting other protocols beyond Wormhole, establishing a fee mechanism, performing rigorous testing, and exploring non-XCM use cases. Presently, the proof-of-concept is experimental and has only been deployed to Alphanet, with no concrete plans yet for deployment to Moonriver or Moonbeam. Read all the convo’s here
DTMB Updates and Announcement:
In April of 2023, Downtown Moonbeam played host to two successful AMA with full support from BrainDex, Beamswap, Bifrost, and DAM Finance. With a focus on fostering community engagement and promoting knowledge-sharing, these AMAs were a crucial step towards encouraging community engagement and facilitating knowledge-sharing, ultimately cementing Downtown Moonbeam's status as a key player in the Moonbeam ecosystem. By bringing together key stakeholders and offering an open dialogue on twitter spaces, these events showcased the growing strength and influence of the Moonbeam network.
DTMB has recently published a compelling article on Substack, exploring the user experience of interoperability through a comparative analysis of XCMP vs IBC. To read the full article and delve deeper, click on the following link : https://dtmb.substack.com/p/the-ux-of-interoperability-xcmp-vs
9 new projects from May 1st to May 6th, 2023 have been added to the Downtown Moonbeam curated lists, providing the community with updated information on the latest projects in the ecosystem. Visit https://www.dtmb.xyz/
Ecosystems Updates:
Recently Launched On Moonbeam & Moonriver Ecosystem
StealthTest by nameless Now supports Moonbeam. By integrating StealthTest, developers can harness its capabilities to develop Web3 decentralized applications (dApps) or non-fungible token (NFT) projects with minimal exposure to the risks posed by public networks. This innovative approach effectively eliminates the potential for alpha leaks, providing developers with an added layer of security, discretion, and confidence in their work. Read the full announcement through following link : https://moonbeam.network/announcements/integration-equilibrium-multichain/
Project Updates on the Moonbeam and Moonriver Ecosystem
Beamex has reached a crucial milestone in its path towards a full launch by introducing a Beta version on the Moonbase Alpha TestNet. As the Moonbeam Network's first TestNet environment, Moonbase Alpha enables developers and new dApps to test and release features on Moonbeam in a shared space. The availability of Beamex Beta on this experimental platform represents a vital step towards ensuring optimal performance and feature optimization before the official launch. Testers on Moonbase Alpha can currently engage in the Beta phase by trading the following tokens; BTC, ETH, USDC, DOT, and wGLMR. The Beamex team is continuously monitoring the platform's performance, making any necessary adjustments to enhance its features and functionalities. After the completion of the Beta testing phase, Beamex will migrate to the Moonbeam Network Mainnet, enabling users to trade an even broader range of tokens.
StellaSwap has presented an interesting proposal to promote the expansion of iBTC on Moonbeam by utilizing INTR tokens as incentives on its iBTC-DOT pool. The proposal features an innovative strategy to direct wBTC liquidity towards iBTC by creating links on the Swap interface and Pulsar dashboard while offering enticing incentives. The concentrated liquidity provided by Pulsar presents an ideal solution for mitigating slippage on trades, a critical factor in driving adoption and attracting new investors. The proposal has secured unanimous approval from the Interlay community, with all voters enthusiastically supporting the initiative. The program will span over two months, allowing both parties to assess the proposal's impact and adjust accordingly. This effort signifies a significant milestone in promoting the growth of the Moonbeam ecosystem while simultaneously bolstering iBTC's presence in the ecosystem. Read the initiative here.
Prime Protocol Mainnet is live. The platform eliminates the need for token bridges, swaps, or wrapped assets, allowing users to cross-margin their entire portfolio and borrow against all of their on-chain assets through one protocol. Prime utilizes Axelar's General Message Passing technology to enable interchain communication, making it possible for investors to have their on-chain portfolio spread across multiple blockchains, L1s, and L2s. Although only a few tokens are available on each chain at launch, founder Colton Conley plans to include a wide variety of collateral in the future.
In addition to the launch of its mainnet, Prime has introduced an Early Adopter Program that incentivizes users to transact on the platform. Users can earn points based on their transactions, with points accruing at an increasing rate the longer deposits or borrows are kept in the protocol. The point system is automatic, with users' points and earn rates displayed on their dashboard. The Prime Early Adopter Program provides a promising opportunity for users to engage with Prime's innovative technology and contribute to the project's development. Prime Protocol also integrates Chainlink price feeds to help calculate collateral ratios.
The RMRK Nesting EIP 6059 has now officially become an ERC, marking a significant development for the NFT ecosystem. The integration of RMRK onto the EVM is expected to generate increased exposure and adoption from developers and users alike, given that the RMRK standard is now available on the largest stage in crypto. With more developers using RMRK, we can anticipate a rise in the number of unique products and projects, leading to more impactful business collaborations.
Furthermore, the expansion of RMRK's NFT capabilities to zkSync Era TestNet is a notable accomplishment, exemplifying the network's dedication to offering advanced NFT capabilities. To facilitate this, developers can now take advantage of the newly created RMRK EVM template repository and the first video tutorial series on building custom implementations with RMRK on EVM, allowing for more growth and innovation within the NFT ecosystem.
Metafab is revolutionizing the gaming industry by offering a seamless solution for game developers to integrate blockchain technology without the need for extensive knowledge of the technology. With Metafab, developers can operate their game experience just like a non-crypto game, while still leveraging the benefits of digital collectibles, on-chain game currencies, and more. By providing simplified APIs and handling all the blockchain transactions and interactions under the hood, Metafab makes game development more streamlined and less complex. Developers no longer have to worry about writing smart contracts or dealing with web3 programming libraries. Instead, Metafab automatically deploys the necessary smart contracts to the blockchain of the developer's choice from their pre-written templates. Additionally, players can enjoy the benefits of blockchain without the need for a separate wallet, as Metafab automatically assigns a managed wallet to their account. Metafab's smart contract deployment is audited, open source, and proven at scale, providing developers with full control over their contracts. With Metafab, game developers can create blockchain-integrated games without sacrificing simplicity or control.
MetaFab vs. Other Solutions : The Comparison
That's a wrap for this edition!. We hope you enjoyed reading the Downtown Moonbeam Newsletter and gained valuable insights from it. As for what's coming up next, we promise to keep it juicy with exciting developments. Just be warned, reading it may cause extreme levels of euphoria and an urge to dance with joy. But hey, that's the price you pay for staying up-to-date in the fast-paced world of crypto! Stay tuned, and keep being awesome!. Don’t forget to follow our twitter https://twitter.com/dtmb_xyz
You can read the Downtown Moonbeam Newsletter #1 here.
