We’re happy to announce that EOS Nation CEO, Yves La Rose, and EOS Nation CTO, Denis Carriere, have officially been voted in as a VIGOR DAC Custodians!
We introduced Vigor to our community a year ago in EOS Hot Sauce #14. The idea behind the Vigor Protocol seemed wonderful: build a DeFi crypto lending/borrowing platform designed and controlled by a Decentralized Autonomous Community (DAC).
Our interest was certainly piqued and we were eagerly waiting to see how the project would develop. At the same time, our resident DeFi smart contract wizard Denis Carriere started looking into the project, grew more interested and eventually started helping out.
Now, in July 2020, it’s clear to EOS Nation that the Vigor Protocol has the potential to be a shining star in the EOS DeFi landscape. When Denis’ name came up as a potential custodian candidate, he was of course interested in the position.
In fact, all of EOS Nation is interested in contributing and we want to do our part to strengthen the Vigor Protocol. This week, our CEO, Yves La Rose, officially submitted his candidacy to become a VIGOR DAC Custodian, which represents the full backing of EOS Nation. We were delighted to see some immediate support and quick approval for his candidacy. Thank you to the Vigor Protocol community for trusting us with your brand and project. We’re thrilled and excited to be building EOS DeFi alongside all of you!
The VIGOR DAC is filled with dynamic members who are committed to innovating in the DeFi space on EOS. For those not yet familiar on the details of the Vigor Protocol, stay tuned to our socials as we will be sharing more details of the project in the coming days and weeks. For now, here’s a quote from long time contributor and VIGOR DAC Custodian , Andrew P. Bryan:
I’m excited about VIGOR because it is a unique and entertaining defi crypto-lending platform where borrow rates are interactive and responsive. The system solvency changes before your very eyes, based on user borrow and lend activity and real time stress testing. It’s built on the eosio blockchain (EOS mainnet) so it’s extremely fast with zero transaction fees. It’s got a financially engineered core written in C++ that focuses on the risk of sudden default. All other ‘stablecoins’ hand-wave the issue but it is paramount to recognize that default risk is the single most important factor; vigorlending directly addresses capital adequacy and risk budgeting and makes use of product structuring. Also with VIGOR there is no need to ‘trust’ any accounting firm about the existence of money in a bank account, VIGOR is 100% on-chain, transparent, and autonomous. The VIG token is a pure utility that powers the system and is void of all voting/governance rights, whales are neutered, and governance can be shifted to the users of the token not the buyers. The destiny of the VIGOR is to be known as “that crypto borrow and lend platform run by it’s users”. -Andrew P. Bryan, CFA (stuffed shirt – will travel, stablequan11) Custodian, VIGOR DAC Member, VIGOR DAC LTD
We’d like to conclude this feature on the Vigor Protocol by highlighting the fact that many different flavors of DeFi are currently getting a lot of attention across the entire crypto space. We think that VIGOR DAC’s unique structure and value proposition will allow it to stand out in an ever crowded space while at the same time showcasing the power and potential of the EOS mainnet. Sounds like a winning combination to us!
Thank you VIGOR DAC for welcoming us into your community! 🙏 We’re honored and excited to be here! 😁
The State of EOS Decentralized Finance
Although it’s still very early in the adoption cycle, it’s clear that DeFi (decentralized finance) can and will flourish across multiple public blockchains, which means it will be difficult for any particular blockchain to gain a ‘monopoly advantage’ in DeFi. Sure, Ethereum fan boys would likely object to this statement, but the truth is that their blockchain is not performant enough for all the users interested in DeFi. Ethereum transaction fees have been rising significantly while scalability upgrades have been delayed. What we’ve seen in the last few weeks is a wave of investment capital being deployed in DeFi projects across many different public blockchain networks.
Ethereum will not monopolize DeFi, and the reason is quite simple. Game theory would suggest that what people want when investing and using DeFi is:
Incentives: Lowest transaction fees and best interest rate as a lender or borrower + bonuses such as valuable governance tokens.
Security: Operates on a sufficiently decentralized network as to ensure that funds cannot be confiscated by a central party and with robust bug-free code.
Liquidity: High liquidity on the over-collateralized asset increases confidence that no price manipulations could force a liquidation.
When monopolies exist, new players in the industry must offer significant advantages and benefits (think Uber vs taxis) to overcome the many legal and natural barriers to entry that make monopolies possible. On the other hand, when monopolies do not exist and customers can easily move from one service provider to another, incremental advantages can be enough to attract customers away from a competitor.
The process of using Bitcoin on other blockchain networks is becoming easier and simpler everyday. There are so many ways to move your crypto these days. Centralized exchanges like Binance, Bitfinex, and Huobi are still very popular, but atomic swaps and cross-chain decentralized interoperability solutions like Bancor and many others are removing friction from the process and even adding anonymity in some cases. It’s clear to us that we’ll see DeFi across multiple blockchains and will likely therefore not see a monopoly effect on any given one.
Which brings us to EOS. The on and off ramps for acquiring EOS and using the EOS blockchain are expanding. Block.one remains committed to working with the EOS community and, as we can see from the recent tweets from Brendan Blumer, Block.one fully believes that the EOS can and will be a fantastic home for all sorts of DeFi applications. Many DeFi apps are already built on EOS, and recently it seems that new EOS DeFi projects are popping up every week. EOS offers the most competitive incentives and cost structures, sufficient security, and very high liquidity – and we firmly believe this will lead to an influx of new users. In fact, we reached out to some popular EOS ecosystem wallets and they reported seeing a recent 20-50% uptick in daily active users, which has been driven mostly by an increase in DeFi app usage.
The future of EOS DeFi is bright, and we’re excited to be a part of it!
Did we miss your favorite EOS DeFi project? Reach out and we can add it to list!
WAX Council Grows Alongside NFT Popularity & the Race for Rares is on!
There was so much WAX goodness last week that we forgot to mention that Frederic Chesnais, CEO of Atari, was added to the WAX Advisory Council! Atari is legendary in the world of video games, and this news brought back some fond memories of gaming in the 1980s. According to a recent CoinTelegraph article, Atari is really into blockchain and we’re excited to have them join the WAX ecosystem.
This week the WAX Advisory Council brought on Yat Siu, the Founder and Chairman of Animoca Brands. For those who don’t know, Animoca is a huge player in the world of VR and are currently working with most major VR brands and products out there. To learn more about Animoca, we recommend listening to an excellent Layer1 podcast interview from last month. We can already picture our NFT collections posted up as art pieces in VR, can you?
And finally, to round out the WAX Advisory Council news, we have had confirmation in the WAX Telegram channel that Capcom will be releasing a Street Fighter NFT series! Not much is known yet beyond that, but it hasn’t stopped community members from already creating the a Street Fighter NFTs Telegram chat for fun and speculation.
Topps is another big name in the WAX NFT game. If you’ve been following the EOS Hot Sauce, you already know all about them. But if you’d like to get more visibility into the thought process over at Topps, check out the interview by Anders from WAX Sweden with Tobin Lent, the VP of Topps Digital. It includes an amazing history of creating games and much more. He’s the guy that brought GPK to our ecosystem!
Are you feeling that NFT FOMO yet? Thankfully WAX and many community members are doing promos and giving you chances to win more cards for free! Show off your collection on Twitter for a chance to win even more NFTs!
EOS Nation is also giving away NFTs every week in our recently announced WAX Stacks League Season 1: Race for Rares! This competition is free to enter and will see EOS Nation distributing over $1000 USD worth of WAX, NFTs and other prizes! Make sure to sign up to be eligible to win Season 1 prizes and then show up everyday Sunday at noon eastern time for the YouTube Premiere of the EOS Hot Sauce to compete in the Race for Rares!
Are you more interested in building than collecting? Well, the WAX Community Labs has some great news for you! The community has listed 10 ideas that are likely to get approved for funding by this Worker Proposal System. Think you can build them? Submit your application directly on the WAX Community Lab.
List of 10 Community Ideas:
Wallet NFT / Collectible
Gamify NFTs through Chainlink API
NFT Based Tickets
vISK Global Domination
WAX Memorabilia Price Guides
Online Course / Info Product
And rounding out this week’s NFT news is an exciting update to the Atomic Assets standard. You can now make two-side NFTs! Other features in the update include:
NFTs will now show the mint number in the top right corner.
Sort Sales by mint number.
Market collection filter is now sorted by volume.
More details when selecting items for trade.
Filter your inventory for duplicates and hide blacklisted NFTs by default
And finally, congratulations to all 38 active and standby WAX Guilds that passed the minimum OIG requirements for July. EOS Nation is proud to have ranked third this month with Pink.Network and WAX sw/eden rounding out the top 3. The WAX Guild competition is heating up, which means the ecosystem is growing stronger and more competitive! Let’s go WAX!
Chinese BSN Integrates dfuse
The Chinese BSN is trailblazing ahead in the global race for the adoption of blockchain technology and have selected six public blockchains to be connected to their network of nodes. EOS was already announced to be one of those blockchains in April, and we’re happy to see this confirmed with additional details in a recent article on Coindesk. The BSN integration gives EOS developers access to a large group of potential users and connects their projects into the massive blockchain hub that the BSN aims to be.
The services and resources provided by BSN will be free to use up to 2,000 daily connection requests to BSN international nodes. And their goal is to provide a cost-efficient service to those exceeding that.
BSN Nodes are currently located in Paris, San Francisco and Hong Kong. These international BSN nodes will be open for business starting August 10th.
“The move is a milestone as BSN is the first state-backed blockchain infrastructure that is reaching developer communities outside China by integrating with major public chains,” said Yifan He, CEO of Beijing Red Date Technology, one of the founding companies behind BSN.
Though not being a blockchain itself, the BSN provides an important piece of infrastructure for the multi-chain future by allowing developers to create interoperable applications on top of their services, similar to a cloud service for blockchains.
In this context, our friends at dfuse also had a reason to celebrate, as they partnered with BSN to provide API services for EOS and Ethereum as an opt-in solution for their developers.
Alexandre Bourget, CTO and Co-Founder of dfuse gave us the following quote:
“BSN was looking for the most performant and easy to use solution to enable all kinds of enterprises to leverage the advantages of blockchain and since the beginning of the company, we have been laser-focused on building exactly that. Every part of dfuse has been designed for massively parallel operations, which enables unprecedented levels of performance, such as full history reprocessing of large networks in under an hour. This is extremely meaningful to an infrastructure provider like BSN. “
Judging from that, it’s clear that dfuse will play a major role in the future and that an increasing number of developers will start to utilize it. To cater to their needs, the dfuse team createdcommunity.dfuse.io, where anyone can start a topic and get answers from other users and dfuse team members in a more asynchronous manner. We suggest the general community guidelines and a README post to get started.
Block.one's Bart Wyatt on Blockchain Interoperability
He demonstrates how cross-chain functionalities give developers the flexibility they need to create decentralized applications for a mass market so that society can finally utilize the benefits that blockchain technologies have to offer.
As an example, he points out how interconnected supply chain management solutions based on blockchains would be a huge improvement over our fragmented and inefficient supply chains – especially in times of constraint like our current COVID-19 outbreak.
Another key takeaway from the article is that ideological separations must be tackled in addition to the technological hurdles.
“We built the EOSIO protocol with the intent of creating a community of thousands of blockchains that put developers first. That’s why we open-sourced our protocol, and it’s why we’ve continued to make tools and upgrades that improve the whole ecosystem. As a public EOSIO implementation, Telos is exactly that kind of community-realized project that we intended to foster. This broader goal of community-centric innovation is why we issued the EOSIO Challenge; we want developers to push the boundaries of EOSIO and build applications that we may not have developed ourselves.” – Bart Wyatt
Telos: Integrating EvoDex and Tracking Cider Supply Chain
The EvolutionDex, by EOS Argentina, is coming to Telos, allowing anyone to create and launch their own trading pairs on decentralized exchanges.
“EvolutionDex can help bring more users as liquidity providers into the Telos DeFi ecosystem. It will also attract traders who arbitrage trading pairs, bringing increased stability and volume to the Telos token itself, while reducing volatility and fees across the board,” said Jesús Chitty, Co-Founder of EOS Argentina.
And Telos had another success to report, as the network will be used for tracking the premium ciders out of Spain. Consumers will be able to trace the origins of each bottle by scanning a QR code with the SidraDOP app to verify it’s legitimate under Spanish regulations and not counterfeit or made with imported apples.
Voice app for Android with human verification!
The wait for Voice will soon be over and the momentum keeps growing.
The requirement to provide government ID during the sign-up process was one of Voice’s biggest criticisms during its closed beta. New users should be happy to hear they won’t be required to go through that.
One of our developers working on xNation, John Williamson, just received his official invite to join the Voice beta and is enjoying the experience so far. He lives in Australia and was able to try the non-KYC verification system to join Voice.
“The Voice onboarding experience was really easy with the new selfie system and investing your Voice tokens can get addicting!” -John Williamson, EOS Nation developer
It’s great to see the Voice team taking user feedback seriously and including them in the development process. To channel these discussions they introduced the What’s up series, where different elements of the platform can be discussed, so they can be built accordingly.
In this regard, Voice already does a lot of things differently and better than existing social media platforms.
The recent hack of user accounts on Twitter also gave proponents of Voice a great opportunity to showcase the improvements that Voice has to offer. Early on, before the hack, Dan Larimer himself already warned about the security flaws of centralized password management and predicted that such hacks would occur eventually. Well, he was right and the writing is on the wall.
It’s time for a better, fairer and more secure social media.
“So while Facebook scrambles to extinguish their long-time-coming PR dumpster fire, we’re building a platform that stops hate speech where it starts: with malicious users.”
Now, one could say that Salah is probably is a bit too biased to objectively judge Facebook. But even long term Facebook employees, such as Max Wang, come forward and express concerns. “We are failing,” he said, criticizing Facebook’s leaders for catering to political concerns at the expense of real-world harm. “And what’s worse, we have enshrined that failure in our policies.”
Meanwhile, the community is wondering how Voice will position itself in the current landscape of social media applications. CoolWave Capital put together a great summary of different opinions. What’s yours? Let us know in the comments.
And make sure to check your inbox, as registered users received an email from Voice where you’ll find a link to register to become a feature tester for Voice. Participation in the testing might increase your chances to get an invitation sooner.
By the way, did you see the logo for Brock Pierce’s Presidential Campaign? Looks familiar, right?
Crystal Rose Pierce, Brock’s wife and Sense Chat CEO, also made a strong case for blockchain-based social media in a great live stream with one of Crypto Youtube’s finest, Naomi Brockwell.
Just click on your profile on the Discussions App and it will be right there.
While the platform previously was strictly organized by specific topics sorted by tags, the blog feature allows us to post content on individual topics.
Check it out and maybe earn some ATMOS tokens with a great blog post.
Uphold Integrates EOS
Joining the EOS ecosystem just got a little bit easier for US citizens, who can now buy EOS with debit, credit, bank transfer of crypto on Uphold. With larger Fintech players like Paypal and Venmo announcing their support for cryptocurrencies, it may be a smart move by Uphold to attract some early birds.
We’re big fans of the work that Greymass does in the EOSIO ecosystem and their flagship product the Anchor Wallet.
We encourage you to check out the roadmap that the team recently published, as it does a great job outlining their motivation and mission. The roadmap is separated into three segments:
How a user can securely perform actions using the blockchain
How applications can request specific actions of their users
How users and applications can access the blockchain
It’s an interesting insight into what drives an awesome EOS BP Team.
Get Started With BOSCore
In part 4 of their 6-part series titled, How to get started with BOSCore, you can learn about staking and DeFi on BOSCore. If you’re new to BP voting, REX or EOSIO wallets, this might be a good kick starter. Or maybe you just want a shot at their juicy giveaway of 90,000 BOSCore tokens.
EOS Nation is a top Block Producer on the EOS public network. We earn inflation rewards based on the percentage of tokens staked towards us. Those rewards are reinvested into EOSIO community, tools, and infrastructure. Help grow the ecosystem by staking your vote to eosnationftw for BP or proxying to proxy4nation.
Remember, we neveraccept compensation in exchange for featuring projects in the EOS Hot Sauce. That means if a project is included in the EOS Hot Sauce it’s because we believe that project brings value to the EOSIO ecosystem and we want our community to know about it!
Are you building an interesting project on EOSIO? We want to hear from you! Reach out to us on social media or email email@example.com.
Thank you for supporting EOS Nation and for reading this week’s edition of EOS Hot Sauce! Want more spicy updates? Check out some of our recent EOS Hot Sauce episodes!
EOS Hot Sauce ingredients: It’s been a huge week for EOS and this edition of the EOS Hot Sauce will focus entirely on the flurry of positive news for the EOS Mainnet and what it means for the future of the network. Google Announces Block Producer Candidacy, Former CFO and CTO of Goldman Sachs Marty Chavez Joins Block.one Advisory Board as Chairman.
Subscribe to to the EOS Nation newsletter for weekly emails.
Disclaimer: The information provided above does not constitute investment advice, financial advice, trading advice, or any other type of advice whatsoever, and the information on our website should not be trusted as such. We present this information to you as general market commentary. The information does not constitute investment advice or any professional financial advice of any sort whatsoever. We do not advise or recommend that you buy, sell, or hold any cryptocurrency, digital token, ICO, or digital asset whatsoever. We advise users to conduct their own due diligence and consult with a qualified financial advisor before buying, selling, or holding any type of digital asset or cryptocurrency. We will not be held responsible for any investment decisions made based on the information provided on the website.
Prior to founding the first EOS community in Toronto and co-founding EOS Nation, Daniel spent a decade in the financial technology industry working several diverse roles. His extensive experience in customer service, sales, sales coaching, agent training, digital marketing, digital process management (lean green belt), and product management (certified scrum master, certified product owner) eventually lead him to consulting for a blockchain dev shop.
Daniel earned a Bachelor of Journalism from Ryerson University in 2009 and worked as a chase producer intern at Global TV.
Daniel lives by the principles of Truth, Love, and Freedom.