Tether USDT stablecoin is coming to Polygon
Tether, the company behind the largest stablecoin by market capitalization, is now offering their USDT tokens on Polygon. Polygon is the 11th blockchain supported by this stablecoin after Ethereum, Solana, Avalanche, Algorand, TRON, Omni, EOS, Liquid Network, Kusama and Bitcoin Cash.
According to the official announcement of Tether’s launch on Polygon, the latter network’s DeFi ecosystem ‘will benefit greatly from Tether’s role in its development.’
Solana’s blockchain clock loses track of time, now running 30 minutes behind
Solana’s (SOL) blockchain clock is currently adrift of real-world time by about 30 minutes due to longer than ideal slot times on the network, the project reported via its status page on Thursday.
According to the notice posted at 3:34 UTC, the issue does not have any impact on network performance. Transactions on the network will, however, show timestamps that are different from “wall-clock time”. Apart from on-chain timekeeping being out of sync with real-world time, the slow slot time issue could also have some economic consequences related to annualized staking rewards.
Ethereum (ETH) continues to fall deeply despite the upgrade of The Merge
Despite preparing to implement The Merge upgrade, the world’s second-largest cryptocurrency Ethereum (ETH) suffers heavily from market volatility.
At noon on May 27, the ETH price continued to adjust to $1,712 – the lowest value level since July 2021 and is the new bottom of 2022. In the last 7 days, Ethereum has lost more than 15% of its value and is having a series of 8 consecutive red candles, which has never happened in the 7-year history of this coin’s existence.
LUNA 2.0 is scheduled to launch on May 28
On May 27, Terraform Labs updated the latest information on the progress of Terra 2.0 deployment. Accordingly, LUNA 2.0 is expected to go live on May 28th, 2022 at around 06:00 AM UTC.
At the same time, the project will airdrop new LUNA tokens to investors holding LUNA and UST based on specific conditions. 30% of the LUNA airdrop will be issued, with the remaining 70% to be issued over two years with a six-month cliff.
Ankr partners with Pocket Network to advance decentralized Web3 infrastructure
On May 26th, blockchain nodes provider Ankr and Web3 data ecosystem Pocket Network announced that their technical collaboration kicks off.
With this integration, Pocket Network becomes one of the nodes providers for Ankr. In addition, web developers, crypto entrepreneurs, and decentralized applications teams will be able to deploy their software to a more optimized and powerful technical basis.
142.6 billion SHIB purchased by investor
As per a recent tweet by WhaleStats, an Ethereum investor whose wallet is titled “BlueWhale0073” has again bought a massive amount of SHIB—142,670,797,289 tokens. The amount of USD paid for that chunk of meme crypto was $1,539,417.
Paraguay approves legal framework to regulate crypto mining and trading
On Wednesday, Paraguay’s Chamber of Deputies (second chamber of Congress) approved a bill regulating crypto mining and trading with a 40-12 vote.
The bill aims to make Paraguay an international hub for miners. Additionally, the country’s low electricity costs could favor this move as Paraguay has about five cents per kilowatt-hour, the lowest electricity rate in Latin America.
Tether launches new stablecoin pegged to Mexican peso
Tether has launched a new stablecoin pegged 1:1 to the Mexican peso. Dubbed MXNT, the stablecoin will initially be available on the Ethereum, Tron and Polygon blockchains.
This is Tether’s fourth fiat-pegged stablecoin, after US dollar-pegged USDT, Euro-pegged EURT and the offshore Chinese Yuan-pegged CNHT. According to Paolo Ardoino, CTO of Tether, introducing a Peso-pegged stablecoin will provide a store of value for those in the emerging markets and in particular Mexico.
STEPN to bar gameplay in China, sending ‘Move-to-Earn’ token GMT spiraling
Solana-based “move-to-earn” game STEPN will effectively bar gameplay in China in mid-July, the company announced Thursday, sending its GMT token spiraling as the markets digested the news.
STEPN said it will stop providing GPS services to users whose IP address or GPS location shows them in China on July 15. Without GPS services, players who own its membership-like shoe NFT will not be able to earn tokens for their steps.
Terra governance system passes plan to burn 1.3 billion UST tokens
The Terra governance system has voted to approve a proposal to burn all TerraUSD (UST) tokens held in the project’s community pool and UST deployed for past liquidity incentives on Ethereum.
This amounts to more than 1.3 billion UST, or roughly 11% of the existing 11.2 billion UST supply, according to CoinGecko. The proposal received 99.3% of the total cast votes in favor of it. Following the vote, Terraform Labs, Terra’s core development firm, will proceed to execute the burn.