- Curve Finance plans to launch its own stablecoin.
- TeaParty releases its social media platform to public beta.
- SushiSwap releases a cross-chain AMM.
- Vitalik proposes to adjust memory gas pricing.
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Curve To Launch Over-Collateralized Stablecoin
Curve is now among the DeFi protocols looking to launch its own USD-pegged stablecoin. SCB 10X, an investment firm based in Thailand, published an interview between Spartan Group co-founder Kelvin Koh and Curve CEO Michael Egorov. During the interview Egorov was asked if Curve is looking to launch a stablecoin. He responded by saying it's best not to reveal the details until it's ready, but it will be an over-collateralized stablecoin.
Curve will likely follow a similar structure to MakerDAO’s DAI stablecoin. This comes as Aave recently published an Aave Improvement Proposal (AIP) to launch its native $GHO stablecoin. Curve is a DEX protocol focused on ultra-efficient stablecoin swaps. The protocol has been live since 2020 maintaining a competitive edge over stablecoin volume.
TeaParty Releases Public Beta
TeaParty, a social media protocol built on Lens Protocol, opened its platform for public beta. The social media site hopes to power a Social-&-Earn (S&E) economy rewarding users for engaging with incentivized content. Advertisers are able to cost-effectively promote posts by only paying per user engagement, such as likes, shares, follows, or retweets.
$TEA is a soulbound ERC-2O token native to the TeaParty ecosystem. Creators can only sell a max of 100 $TEA tokens per day with a 24 hour cooldown between each sale. The $TEA token can be listed on the TeaParty marketplace at a minimum listing price of $1 per token. TeaParty also takes a 10% fee from sellers on each sale.
SushiXSwap Cross-Chain Swap AMM
Sushi has launched SushiXSwap, a cross-chain swap AMM built on Stargate Finance and LayerZero Labs. The cross-chain AMM supports trading between Ethereum, Arbitrum, Optimism, Fantom, Avalanche, Binance, and Polygon. SushiXSwap taps into SushiSwap’s own liquidity pools for each chain to ensure there is always liquidity on both sides of a trade.
SushiXSwap uses Stargate, an omnichain messaging protocol by LayerZero, to aggregate bridges for routing trades efficiently. The cross-chain DEX will route orders toward the best rate for a given pair. The bridging feature is integrated directly into SushiSwap’s existing AMM UI.
Vitalik’s Proposals For Adjusting Memory Gas
Vitalik Buterin published a proposal to adjust memory gas costs on Ethereum. The current memory gas pricing mechanism charges users per L chunks with a limit on how many callframes can be made. A call request currently requires a minimum of 114 gas, allowing a theoretical maximum of 792 calls per block given the 30 million gas limit per block.
With 30 million gas, up to 123,169 chunks (3.941408 mb) of memory can fit in a single callframe. However, there is no clear method to calculate the actual max memory that can be used in a block due to inconsistent gas pricing mechanisms for expanding memory within a call frame versus between call frames.
Buterin submitted three proposals, one of which aims to cap memory by the sqrt(gas). The solution proposes to remove the existing 63/64 rule, charge 3 gas per 32 byte chunk for copying data when returning from a call, and set the max memory of a call frame to the square root of gas.
Uniswap NFT To Support SudoSwap
Uniswap will be releasing support for SudoSwap on its upcoming NFT integration. Sudoswap is an NFT AMM and marketplace protocol for facilitating NFT swaps. Users can create NFT liquidity pools that gradually buy or sell NFTs a along price curves
This comes as Uniswap recently acquired NFT aggregator tool Genie.xyz. Starting in fall, users will be able to buy and sell NFTs directly on Uniswap. NFT features will also be integrated into Uniswap’s developer APIs and widgets. Uniswap had also announced a retroactive USDC airdrop for certain Genie users.