This Week in Signal Teams — Basic Attention Token, Injective Protocol, Wanchain, Tellor

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

• California to Allow Bitcoin Donations for Political Campaigns
• JP Morgan Says Bitcoin Deleveraging Appears to be Over
• Tesla Sells 75% of Bitcoin Holdings During Q2
• French Banking Giant BNP Paribas Starts Offering Crypto Custody
• UK Treasury Unveils Plans to Regulate Stablecoins
• Ex Coinbase Employee Arrested for Insider Trading
• SEC Calls 9 Cryptos ‘Securities’
• Bitcoin Network Difficulty Dips 5%, Largest Drop in Months

Top FTX Signals This Week

• Brave Adds Six New DeFi DApps to Wallet
• Injective Welcomes Frontrunner Decentralized Sports Prediction Market
• Wanchain Launches a New Set of Decentralized Crosschain Bridges
• Tellor to Implement Its Oracle Protocol on the Algorand Network

Brave Adds Six New DeFi DApps to Wallet

“Brave just added six new DApps to our Wallet Partner program! You can now connect to these leading Ethereum and Solana DApps, no 3rd-party extension needed!”

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— Jennie T, Director of Community and Partnership

Summary

• Brave’s multichain crypto wallet makes it easier for users to onboard to Web3. Features include decentralized swaps, multi-chain portfolio view, and simple fiat-to-crypto purchases.
• Six leading DApps (decentralized applications) spanning over 10 networks have joined the Brave wallet program in July. These include Beefy, Elk Finance, Elpis Battle, Lido, Tulip and Venus.
• Brave partners in the program benefit from co-promotion of their DApps among Brave’s 62+ million users.

Significance

Brave’s multichain crypto wallet makes it easier for users to onboard to Web3, while helping increase exposure for these innovative DApps. This benefits Brave and partners, while making crypto more accessible to new users.

Price at the time of FTX Signal: $0.39. View BAT on FTX.

Injective Welcomes Frontrunner Decentralized Sports Prediction Market

“Frontrunner is now LIVE on the Injective testnet! Frontrunner is a decentralized sports prediction market where users can buy shares of sports propositions and trade them like they would stocks.”

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— Eric Chen, Co-Founder

Summary

• Unlike traditional sports books where users place a bet and wait, Frontrunner gives users full control over their portfolios, allowing them to dynamically buy and sell positions as the odds change.
• By leveraging the power of free markets and the blockchain, Frontrunner creates transparent markets and liquid positions to reduce counterparty risk.
• Utilizing Injective’s CosmWasm and binary options support, Frontrunner has launched its beta on Injective’s testnet with a trading competition.

Significance

This launch highlights the benefits of using Injective blockchain and interoperable smart contracts for financial and sports gaming applications. It improves efficiency and lowers fees, while reducing risk and providing greater decentralization.

Price at the time of FTX Signal: $1.33. View INJ on FTX.

Wanchain Launches a New Set of Decentralized Crosschain Bridges

“Wanchain and CLV have launched a new set of decentralised, non-custodial crosschain bridges!”

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— Temujin Louie, Director of Marketing

Summary

• Wanchain, a global leader for blockchain interoperability, and CLV, a blockchain infrastructure platform and Polkadot parachain focused on crosschain compatibility for DeFi applications, have deployed new bridges connecting the CLV Parachain with Ethereum, Moonriver and Wanchain.
• The asset routes that will initially be supported by Wanchain’s unique, non-custodial cross-chain bridges are: CLV <> Ethereum: $USDC, $USDT, CLV <> Moonriver: $USDC, $USDT, $FINN, CLV <> Wanchain: $WAN.
• In addition to these bridges, Wanchain has also added CLV Wallet support to the WanBridge web portal. CLV has, in turn, will integrate Wanchain’s bridged assets directly into the CLV Wallet.
• These bridges use a combination of Secure Multiparty Computation (sMPC) and Shamir’s Secret Sharing to secure overcollateralized cross-chain assets.

Significance

This integration means that crosschain transactions involving Wanchain’s bridged assets can be completed conveniently within the CLV Wallet itself.

Price at the time of FTX Signal: $0.22. View WAN on FTX.

Tellor to Implement Its Oracle Protocol on the Algorand Network

“We are so excited to work w/ this phenomenal ecosystem! A big thank you to the Algorand Foundation for the support in bringing the tellor magic to its users.”

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— Ryan Hill, Business Development

Summary

• The Algorand Foundation announced the award of an Oracle Supagrant to Tellor, to implement the Tellor Oracle protocol on the Algorand network.
• Tellor is a permissionless oracle protocol for getting off-chain data onto a given system with measurable crypto-economic guarantees.
• Tellor on Algorand is a secure, decentralized, and easy-to-use re-implementation of Tellor on Ethereum.

Significance

Implementing the Tellor oracle on Algorand serves to broaden the Tellor network and extend the Algorand ecosystem. It presents Tellor with the opportunity to widen its reach, not only that of the oracle, but toward its mission of decentralization and trustlessness.

Price at the time of FTX Signal: $17. View TRB on FTX.

Quotes of the Week:

“Every country will eventually adopt Bitcoin.”

— Prince of Serbia

“We understand better how little we understand about inflation.”

— Fed Chair Powell

Chart of the Week:

This chart shows record amounts of stablecoins on the sideline relative to crypto’s market cap. This can be viewed as dry powder that can be used to chase the rally higher. When this reading hits the top of the channel (green line), this often indicates an interim price bottom and when it hits the bottom of the channel (red line), this often indicates a price top for the crypto sector.

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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