- Binance converges stablecoins to $BUSD.
- StarkNet releases Alpha v0.10.0.
- BarnBridge V2 is now live.
- Curve Finance publishes crvUSD repo.
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Binance Converges Stables Into BUSD
Binance will be auto converting stablecoins on its exchange, with the exception of Tether (USDT), into its native BUSD stablecoin. USDC, USDP, and TUSD balances will be auto-converted into BUSD on September 29th at 11 pm ET. Users are still able to convert between stablecoins when withdrawing from the exchange.
According to Binance, the converging of stablecoins will enhance liquidity and capital efficiency. BUSD is managed by Paxos, a stablecoin issuer regulated by the New York State Department of Financial Services (NYDFS). The change follows FTX and Coinbase, which have also converged stablecoins on their order books.
StarkNet Releases Alpha v0.10.0 On Goerli
StarkWare released StarkNet Alpha v0.10.0 on the Goerli testnet, which includes improvements for account abstraction, a fee mechanism extension, and Cairo syntax changes. A nonce field is now available on every contract, ensuring that contract accounts only accept transactions with a matching nonce.
There is also a new transaction version (v1) that allows for backward-compatibility. A future release of StarkNet Alpha will remove the previous transaction type (v0) and will require messaging and declare transaction fees. StarkWare is also working on Cairo 1.0, an upgrade to its native programming language.
BarnBridge Deploys V2 Upgrade
Fixed-rate yield protocol BarnBridge has successfully deployed BarnBridge V2. The protocol aims to offer sustainable fixed yield by balancing user deposits and DAO-owned liquidity. The protocol is no longer using NFTs to represent positions and is instead using ERC-20 tokens that can be used in DeFi.
Users can now borrow against their V2 positions to gain up to 4x leverage. The new release also reduces fixed interest rate terms to just one month. BarnBridge V2 will also be available on Optimism as the protocol is expected to receive 600k OP tokens from the rollup. The first fixed rate pool starts on September 8th.
Aztec Network Integrates Element Finance
Aztec Network has integrated Element Finance into its privacy-focused zk-Rollup. Users can now privately earn fixed yield by depositing shielded DAI into the Element Finance pool on Aztec. The rollup batches several DAI deposits and swaps them for Element’s DAI principal token. The tokens are then redeemed at maturity for the underlying DAI. Element Finance is a fixed and variable yield protocol that allows users to trade variable yield assets for fixed yield assets.
Curve Finance Publishes crvUSD Repo
Curve Finance has published a new GitHub repository with a JS integration library for its native crvUSD stablecoin. The repo reveals possible functions for the stablecoin, including adding collateral, borrowing, repayment, loan health, self-liquidation, and swapping. Twitter user James Bachini says the stablecoin could be similar to DAI, which is over-collateralized and multi-collateral backed.