This Week in Signal Teams — Basic Attention Token, Avalanche, Oasis Network
Every week we comb through hundreds of FTX Signals to bring you the most significant team updates with brief analyses to help you understand the latest developments in blockchain.
Macro Crypto News This Week
- Hong Kong plans to legalize retail crypto trading
- Global Bitcoin payments projected to reach $3.7B by 2031
- CashApp adds support for Bitcoin Lightning Network
- Kazakhstan to build central bank digital currency on BNB Chain
- FTX considers launching its own stablecoin
- Bitcoin miner Core Scientific issues bankruptcy warning
- Former Uber employees back new decentralized ridesharing startup
- Google Cloud announces blockchain node service starting with ETH
Top FTX Signals This Week
- Brave Browser Adds New DApps, Upgrades UI
- Avalanche Partners with Toonstar on Web 3 Entertainment
- OasisLabs and Equifax Partner on Decentralized KYC Solution
Basic Attention Token Adds New DApps, Upgrades UI
“Brave’s Wallet Partner program just had its biggest month yet!”
— Jennie T, Director of Community and Partnership
Summary
- Brave’s native crypto wallet now features integrations from ACryptoS, BadgerDAO, Compound, Cronos ID, DappRadar, Jungle Cats, Ferro, Matcha, Mean Protocol, Minted, Moonshine, Odos, Overtime, Rarible, SPACE ID, Synthetix, THORSwap, Tiny World, and VVS Finance.
- Since its June debut, the Wallet Partner program has onboarded 62 DApps, and promoted their use among Brave Wallet users through Brave Ads and other Brave-owned properties.
- Brave Wallet is also getting a signing UI upgrade designed to make signing swap transactions more intuitive and easy to understand.
Significance
Brave users can now easily connect to these DApps using Brave’s built-in browser wallet, with no extensions required. This helps to reduce security risks and reliance on extra CPU and memory. Ultimately, Brave believes these moves will help to further increase crypto adoption.
Price at the time of FTX Signal: $0.28. View BAT on FTX.
Avalanche Partners with Toonstar on Web 3 Entertainment
“The breakout adult animated series, The Gimmicks, is dropping Season 2 on Avalanche!”
— Kyle Dineen, Social Media Director
Summary
- Toonstar, a pioneer Web3 animation studio, is partnering with Avalanche to build the future of Web3 entertainment and innovative fan experiences.
- The breakout adult, animated series, The Gimmicks, will launch a second season to be powered on the Avalanche blockchain.
- The Gimmicks embraced Web3 early on, giving NFT holders the ability to impact storylines and character arcs. The model proved to be incredibly successful with audience engagement and retention levels remaining high throughout the season, bucking the industry trend.
Significance
Toonstar is transforming entertainment, deploying Web3 elements in ways central to both storyline and fan experience. Audience engagement and retention have suffered with traditional Hollywood content, but the Toonstar model is bucking the trend. Their choice to partner with Avalanche will highlight the benefits of Ava Labs technology and could lead to more partnerships between media and blockchain companies.
Price at the time of FTX Signal: $17. View AVAX on FTX.
OasisLabs and Equifax Partner on Decentralized KYC Solution
“OasisLabs and Equifax partner to create the first-of-its-kind decentralized identity management & KYC solution for web3, powered by the Oasis Network!”
— Gina Tiriakidou, Head of Marketing
Summary
- Credit reporting agency Equifax and blockchain-based, privacy-focused cloud computing company Oasis Labs have announced a partnership.
- Together, their goal is to build an identity management and know-your-customer (KYC) solution for Web3, the decentralized internet.
- Equifax and Oasis are creating a KYC solution where privacy technology is key and plays an important role throughout the full stack. Oasis plans to use secure hardware, zero-knowledge proofs, anonymous credentials, and decentralized identity management to ensure privacy.
Significance
Oasis is helping companies strike a balance between privacy and regulatory compliance. This partnership is seen as a first step in creating a “universal KYC” that is compatible across different blockchains, companies, and communities.
Price at the time of FTX Signal: $0.06. View ROSE on FTX.
Quotes of the Week:
“Investors have been increasingly looking at Bitcoin as a safe haven despite the ongoing cryptocurrency bear market.”
— Bank of America
“I’m starting the process to adopt Bitcoin in Mexico.”
— Mexican senator Indira Kempis
Charts of the Week:
Crypto miner margins are very compressed due to rising energy costs, lower crypto prices, and an all-time high hash rate. Hash price (miner revenue per Terahash per day) is down to its lowest level since the months following the 2020 halving.
This led Core Scientific to announce they may seek bankruptcy protection and default on loan payments. CORZ share price has plummeted by over 80% this week. The chart below shows the top 10 public miners by hashrate, with Core Scientific in the top spot with nearly 5%.
Thanks for joining us and we look forward to bringing you our top FTX Signals again next week.
Jason Hamlin
Ecosystem Insights @ FTX
FTX Signal is a first-of-its-kind communications platform built exclusively for token teams to connect and engage with their communities. Over 1,000 token team CEOs and team leaders actively use the platform to provide relevant project updates directly to FTX’s 6 million+ users. Learn more.
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