January 14, 2021: $USDN Linkage 🔗 $sUSD Optimism 🥃

Keep Ahead of the Curve

Here are today’s trends to watch from Curve Market Cap:

Curve’s record trading week splashed to veCRV holders during the Thursday update. The APY nearly doubled to 66.2% after the bumper week:

Around Curve pools, $USDN pool volume and yields are jumping sharply, with USDN currently offering the best trading fees at a whopping 23.4% APY equivalent.

The big moves follow announcements of new integrations from the Neutrino Protocol team.

Neutrino Protocol @neutrino_proto

Neutrino's inter-chain capabilities are expanding due to the upcoming integration with @chainlink Proof of Reserve. The collaboration will enable seamless transfers between the 2 networks & help enhance inter-chain communication between Waves and Ethereum.

medium.comNeutrino Integrates Chainlink Proof-of-ReserveThe collaboration will lead to improved security and robustness of cross-chain bridges between Waves and Ethereum. We are eager to announce the upcoming integration between Neutrino protocol and the…

Neutrino is integrating ChainLink oracles to provide on-chain audits of their monetary reserves. They plan to update supply automatically every 6 hours or anytime the price deviates by more than 2%.

Additionally, the “Moon Factor” protocol is set to be implemented over the next 24 hours, which will cap the supply of the $NSBT governance token.

Neutrino Protocol @neutrino_proto

Hi Neutrino community, ⚠️We would like to inform you about planned maintenance of the Neutrino system due to the activation of the 🌙'Moon Factor' update, scheduled for January 15, 08:00 AM (UTC).

Synthetix also announced details of their plan to migrate to Optimistic Ethereum.

⟠ toast.eth 🦄 @intocryptoast

Wow.. quite a lot of moving parts for the migration to L2. Very smart planning. Staking rewards on L2 start reasonably small (10k SNX) and then scale up over time. This should stop people aping into L2 and causing a potential mess.

blog.synthetix.ioThe Optimistic Ethereum TransitionWith the launch of Optimistic Ethereum (OΞ) mainnet in a few days we are entering a new era for the project, OΞ presents an opportunity to scale the protocol but it also presents a number of challenges. One of the most critical is how to gracefully transition from L1 to a protocol running on both L1…

The implementation is tricky, but the first stage would be to deploy a one-way bridge for SNX holders to move from L1 to L2. Small holders of SNX (<$1K) would see their balance automatically locked into the new protocol to avoid gas fees.

Traders reacted by sending the Synthetix dollar ($sUSD) pool to the top of the volume charts, trading $83MM over the past 24 hours.

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