This Week in Signal Teams — Litecoin, Elrond, Golem
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
- Jurisdictions in Honduras, Portugal Unveil Bitcoin Adoption Plans
- Shopify to Integrate the Bitcoin Lightning Network
- Crypto Exchange FTX US to Take a Stake in IEX Group
- Strike has Partnered with NCR, the Largest POS Provider in the World
- Cash App to Allow Users to Receive Paychecks in Bitcoin
- Forbes Says Bitcoin Could be a “New Petro Asset”
- Tennessee Titans Become the First NFL Team to Accept Bitcoin as Payment
- Lightning Labs Raises $70M to Bring Stablecoins to Bitcoin
- Intel Launches Their New Bitcoin Mining Chip, the Blockscale ASIC
Top FTX Signals This Week
- Litecoin Foundation Partners with Antpool to Form LTC Labs
- Elrond Introduces Price Discovery Mechanism for Token Launches
- Golem Announces Major Release Bundle for Beta V
Litecoin Foundation Partners with Antpool to Form LTC Labs
“In a joint agreement, the Litecoin Foundation has partnered with Antpool, one of the world’s leading digital currency mining platforms, to form the digital currency research laboratory ‘LTC Labs’.”
— Jay Milla, Marketing Director
Summary
- The organization will focus on the research and information of anonymous transactions, decentralized applications, the evolution of digital currency, wallets, and other projects focused on growing the Litecoin ecosystem.
- As part of the agreement, AntPool will donate half of their Litecoin Pool mining proceeds each month to fund LTC Labs and directly support development initiatives.
- The Litecoin Foundation will join together in a partnership with Antpool to help drive and expand the future of Litecoin, by focusing on future development initiatives for the benefit of all.
Significance
This funds a research lab that will help push forward initiatives in the Litecoin ecosystem, including advancing privacy features.
Price at the time of FTX Signal: $120. View LTC on FTX.
Elrond Introduces Price Discovery Mechanism for Token Launches
“Introducing Price Discovery, The Ignition Sequence For Launching Vibrant Token Economies On The Maiar DEX.”
— Beniamin Mincu, Founder & CEO
Summary
- Elrond has devised a new price discovery mechanism for token launches. It is created to help tokens find their right value in the market while aligning interests and giving everyone a fair chance of participating in the early stages of a new token economy.
- Participants will deposit tokens into a smart contract: EGLD (to buy ITHEUM) and/or ITHEUM (to sell for EGLD). Based on the amount of EGLD and ITHEUM deposited in the smart contract at the end of this stage, the EGLD/ITHEUM ratio is established.
- At the end of the period, those who deposited EGLD get locked-ITHEUM tokens, and those who deposited ITHEUM get locked-EGLD tokens. Everyone will have swapped observing the same price, that was “discovered” in this stage.
- In Phase 2, withdrawals carry a penalty, which gradually increases over time to discourage attempts of price manipulation from those who deposit large amounts of tokens to drive the price up or down, only to withdraw at the last minute.
Significance
This new price discovery process should help to create a more accurate price and fair token launch process for investors while discouraging manipulation.
Price at the time of FTX Signal: $169. View EGLD on FTX.
Golem Announces Major Release Bundle for Beta V
“Announcing the latest major release bundle for Golem, Beta V!”
— Mattias Nystrom, Community Manager
Summary
- With the new update to the client and Python API (Yapapi), web application development has become significantly easier.
- Golem is also offering monthly rewards of 4k GLM to devs working on and maintaining applications.
- This version of Yagna includes the feature of mid-agreement payments, which is a mechanism allowing to pay the provider at set points in time during the duration of an agreement.
- This comes after the last update, Beta IV, made fees much lower across the board, allowing requestors and providers to run more cost-efficient tasks.
Significance
This update improves the developer experience on Golem and includes monetary incentives that should help attract and sustain new talent.
Price at the time of FTX Signal: $0.46. View GLM on FTX.
Quotes of the Week:
“I’m running for United States Senate representing New Hampshire. I appreciate your support. If you have $100, $50 or $20…don’t send it to me, buy Bitcoin! No politician can save you from the melting ice cube of fiat and I can’t either.”
— Bruce Fenton, Running for US Senate in New Hamshire
“Bitcoin is the most honest and most efficient market in the world.”
— PayPal CoFounder Peter Thiel
“I have 60% of my wealth in Bitcoin.”
- Mexico’s third richest man Ricardo Salinas
Chart of the Week:
This chart ranks exchanges by Segwit adoption and sorts them into three categories: Pioneers, showing more than 90% adoption; Stragglers, exhibiting adoption rates between 20–90%; and Holdouts, with adoption rates below 20% that clearly signal their lack of interest in improving transaction throughput on the Bitcoin network.
Thanks for joining us and we look forward to bringing you our top FTX Signals again next week.
Jason Hamlin
Ecosystem Insights @ FTX
FTX (formerly Blockfolio) 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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