EOS Hot Sauce #71 – 2 Chains ⛓1 Farmer 👩🏼‍🌾: A DeFi Short Story | WAX Tech Shines During NFT Day | Effect.ai & Ivan On Tech Academy | Ultra & Thetha

EOS Hot Sauce is a weekly digest of all the hottest topics from around the EOSIO ecosystem. The space is evolving so rapidly it can be hard to keep up! We keep on top of it so you don’t have to.

2 Chains ⛓1 Farmer 👩🏼‍🌾: A DeFi Short Story

Good morning fellow farmers, how are we doing today? I see our crops grew strong overnight!  Shall we harvest them?

Heading on over to my Ethereum Produce Farm, I see that my fruits and vegetables grew and multiplied overnight, which is great!

But the fees can reach over $40 to process the transactions required to harvest my crops! 😱

I’d like to de-risk and sell my produce, but that means I’ll need to:

  • Pay significant gas fees to harvest my produce.
  • Pay significant gas fees to trade my produce.
  • Possibly pay significant gas fees for a failed transaction that accomplishes nothing, and pay those gas fees once more when I try again.

I decided to hold my produce for now. When more produce has accumulated, I’ll sell it all at once to reduce the impact of those pesky fees on my farming bottom line. I just hope the produce market doesn’t crash before I decide to sell them!

Disappointed in not being able to harvest Ethereum Produce Farm, I walk on over to my EOS Factory to see how many of my products have been created. This factory is much more high-tech then my produce farm as it was built more recently and with better technology.  The efficient use of electricity and technology means I can package my products very cheaply, and I don’t have to worry about fees when I create, collect, or sell my products!

The only thing I need to worry about when managing my EOS Factory investments is how I allocate my assets. 

Do I want more or less exposure to a particular asset? Do I want to add or remove liquidity from pools? Do I want to claim my dividends every hour or every day? At the EOS Factory, you can make these important financial decisions without being encumbered by annoying gas fees. What a joy!

But you need to be careful out there. It’s impossible to earn a return without taking on some risks.

At least in the EOS Factory, you don’t have to pay crazy fees to manage risk like you want it!

The highly efficient EOS network also allows users to explore these exciting platforms without having to risk large sums of money! Even with just a few dollars worth of assets, users can still try out various DeFi products on EOS and learn about this brave new world.

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 in this publication.

WAX Technology Shines Through During NFT Day

As any regular reader of the EOS Hot Sauce would know, NFTs have been surging in popularity on both the WAX and EOS network. Last week Coin Genius and the guys from the Bad Crypto got together to organize an NFT-themed crypto conference with many of the top NFT blockchain teams from across the entire space.

We heard from a variety of teams that have products deployed across a variety of networks. For those of us who are heads down and focused only on EOSIO networks, this event gave us a good opportunity to take a look at the entire space.

A common theme that popped up a lot was… drum roll… gas fees! Obviously the DeFi bull run on Ethereum has made the network usage fees skyrocket to insane levels. How are you supposed to trade NFTs if the transaction to simply put it on the market place costs $10-$40? It’s no surprise that sales volume on Ethereum-based NFT platforms such as OpenSea have seen significant downturns.

It was great to see Joel Comm and Travis Wright, the guys behind Bad Crypto Podcast and the Blockchain Heroes NFT series, gushing at how amazing WAX is for creating and trading NFTs. Travis expressed a lot of delight at the fact that he can send a pack to a lucky community member on a livestream and see the pack arrive instantly, allowing the viewer to open his pack right away! It’s crystal clear that WAX and EOSIO offer an absolutely amazing user experience when it comes to creating, collecting and trading NFTs.

There were many panels and keynote speeches and we’ll go over some of our favorite segments today.

Panel: Unlocking Alternative Revenu Streams for Artists, Musicians and Athletes

Some of the more eye popping things we learned in this panel is that Topps has earned 6x more on secondary markets than during their primary sales! These breathtaking numbers have attracted a lot of attention from other Topps brands, many of which are exploring options on how to release NFT series for their fans.

We also had a surprise mini-collection revealed and released during the NFT Day.  The GPK Crash Gordon series sold out nearly instantly and contains 5 different cards (a & b) with 3 levels of rarity.

Later on during the panel we heard Vesa explain the enormous problem that’s currently plaguing the old world art scene. Fakes are rampant and Vesa claims that up to 50% of the artwork listed in the very reputable Christie’s Auction catalogue may be frauds.

He makes a convincing argument that the ability to recognize if an NFT art piece is real or fake, at no cost of either time or money, is an absolute game changer for the art world. And that’s not even getting into the fact that NFTs allow artists from around the world to mint and distribute their artwork for very little costs.

He anticipates seeing tremendous growth in the next 5 – 10 years in the NFT space and we fully agree with him. He also mentioned that the digital version of a collectible Nike sneaker has sold for more than the real version of the sneaker!

Another great clip saw Travis asking Tobin “what has to happen for Star Wars or Marvel to release on blockchain?” Tobin gave a great answer and shared that most brands are currently approaching NFTs with “intense curiosity and slight trepidation.” Brands are certainly interested in the potential but are afraid about how they can maintain control of their intellectual property (IP) once released on the blockchain. Those concerns are likely to diminish over time as we see bigger and bigger brands release their IP on various blockchains.

We also learned that the Topps GKP Series 2 launch is targeted for the end of September! Get your WAX tokens ready!

The first keynote address was by WAX CEO William Quigley, who put the emphasis on what he thinks is an unsung part of NFTs, which is the fact that nothing else in the universe, outside of crypto tokens, gives you the ability to prove authenticity instantly and at no cost!

Therefore you can’t fake the total supply, which is a trick used by collectible card publishers in the 80s and 90s. How do we know that the manufacturer really only produced X number of cards? Back then, we had to trust the seller. Today, we can verify the supply ourselves directly on the blockchain! How wonderful 😊

Panel: The Rising Industry of Gaming Collectibles in e-Sports: Are NFTs The Emerging Core Component of the Billion Dollar Industry?

Some of our favorite moments from this panel included when Marguerite described how NFTs could be used by gamers as a tamper-proof record of their gaming career, allowing them to build their own portfolio of gaming achievements, all recorded immutably on-chain.

Aleksander brought up a fascinating concept revolving around granting actual ownership of the game for players who grind up to high levels. In the DeFi space, yield farmers contribute liquidity to various pools in order to earn ownership of the protocol through their governance token. Can we apply the same concept to gaming? In addition to in-game gold and experience, players could also earn ownership shares of their favorite game creating player-owners!

But our favorite quote from Aleksander came when he was talking about the psychological impacts of making the decision to hold a game item instead of selling it for real satoshis.

“The opportunity to be able to sell the item is incredibly powerful, and this builds a really solid connection to the game asset.”

Effect.ai partners with Ivan on Tech Academy

Chris Dawe, CEO of Effect.ai, made an appearance on Ivan On Tech’s popular Good Morning Crypto show to introduce Effect.ai to Ivan’s large audience and to share some good news. 

And that news was spicy!

We’re happy to report that the Ivan On Tech Academy will join forces with the Effect AI & Blockchain Centers, an initiative to establish training centres across the globe in partnership with the United Nations. 

Besides learning how to generate income as an Effect Force worker, members of the Effect AI & Blockchain Centers can now also join educational programs from the Ivan On Tech Academy, covering topics such as blockchain, cryptography, programming, business development, and more! The Ivan on Tech Academy is already a very successful online offering, and with Effect.ai they now have a perfect partner to bring their curriculum to physical locations.

Creating new opportunities and empowering the people has always been a core motivation in the Blockchain Community. This partnership is a great example that financial inclusion goes hand in hand with educational inclusion. Congratulations to all parties involved! 

That’s not all that Chris had to share, though. He was excited to share that the EFX token is going to be listed on Kucoin.

With so much good news, Effect.ai got a lot of attention and their Telegram group was flooded with new members. 

Ivan on Tech also had yet another pretty interesting guest on his show recently. Dan Larimer, Founder and CTO of Block.one, joined Ivan for a great interview about EOS, EOSIO and what he’s currently working on. Definitely check that out if you haven’t yet.

It’s great to see Dan making more public appearances and sharing his excitement for what’s to come from Block.one.

Thanks to Ivan for sharing some great EOS news with his audience, and for his “EOS Programming” Courses.

Ultra listed on Bitmax, Ultra Partners with Theta

The partnerships keep on rolling in for Ultra! This week we learned that Ultra joined forces with the Theta Network to integrate live streaming technology as part of its core offerings.

The team also secured a new listing, this time on the Bitmax platform. To highlight the listing, Bitmax hosted the Ultra team for a Telegram AMA session! You can find the full transcript on Medium, which includes answers to questions asked by Bitmax as well as the community.

Our Chinese audience will be happy to hear that Ultra also published a video interview with Co-CEOs David Hanson and Nicolas Gilot with chinese subtitles.

Yoast Announces Stakes in WordProof

The founder of Yoast, Joost de Valk, and Yoast’s CEO, Marieke van de Rakt, announced that they’ve taken a stake in WordProof.

With well over 10 Million users, Yoast is one of the most popular WordPress Plugins for SEO Optimization, and we’re excited to see how timestamping content will soon become a factor for SEO rankings. To us, it’s a perfect match and we’re convinced that the combination of both services will improve the visibility of quality web content drastically. 

Joost de Valk said:

“From a publishing perspective, the ability to prove authorship, to unequivocally prove that you were first with a specific piece of content, is game-changing. With WordProof, unprecedented integrity can be brought to the world of content publishing and e-commerce in an open-source manner, which creates awesome opportunities for social sharing sites and search engines”

To dig a little deeper and to understand the massive potential, we recommend the “Timestamps for SEO” tutorial, which is part of the WordProof Academy.

After being awarded one of Block.one’s EOS VC Grants, receiving support from the Noord-Holland Innovation Fund, and winning the “Blockchain for Social Good” competition by the European Union, this is yet another great success for WordProof. 

We’re happy to have such a great team in our community building kick-ass tools on EOSIO!

Callisto Network Now Offers ETH to EOS Smart Contract Migration Service

Great news from the Callisto Network team, as they’re now offering an ETH to EOS Smart Contract Migration Service. Dexaran, the co-founder of the Callisto Network and an expert for Smart Contracts and Security, has gained lots of expertise and knowledge in both EOS and Ethereum over the years. Many might know him through his extensive stress testing of the EOS mainnet.

Being aware of the hardships that dApps on Ethereum are currently facing, he and his team created a Migration Service, so that dApp owners can move their smart contracts easily over to EOS and enjoy the benefits of a more efficient blockchain protocol.

Any interested party can request a migration with just a few clicks.

The Callisto Network experts will rewrite any Solidity smart contract in C++ compatible with EOS, while preserving all the original functionalities and providing guidance and technical support after the EOS contract is deployed. 

For many dApp Owners, this might be a quick and easy fix, so they can continue to focus on building their user base and businesses instead of being stuck hoping for lower GAS fees. (or eventually Ethereum 2.0).

You’ll find a great introduction to EOS in comparison to Ethereum and in the announcement article. And we found a more specific comparison with regards to DeFi in an accompanying piece on EOSGo.

For example: Did you know that sending EOS tokens to a non-existing address is impossible on EOS due to a built in communication model? 

Definitely a nice-to-have feature when you want to build a DeFi application with mass adoption potential.

Yup Yup Yup

Are you a Yup user yet or is your social media experience still a bit overwhelming?

Yup is a great tool to sort quality content on different social media platforms and is built on the EOS Mainnet and the DAPP Network.

 Plus it pays you for your ratings. 

Check out this brand-new explainer video to learn more.

Blankos at the Gamescom 2020

Mythical Games’ Director of Community, Justin Kruger, and Senior Level Designer, Josh Foreman, gave a great presentation of Blankos at Gamescom 2020. Besides explaining the general concept of Blankos, they shared some interesting details about how Levels, aka Block Parties, can be built, edited and shared, allowing all sorts of combinations like Battle Royal Shooters, Vibe Collectors and Races, along with a growing repertoire of game elements like the funky Rainbow Gun.

Gotta love those cute Blankos. 

We want them all!

Make sure to reserve your account for a chance to enter the beta later this year at Blankos.com

CRYPTOwriter's Prolific Content Producing On Voice

Time is flying and the Voice Community keeps growing. The Cryptowriter joined Voice just a month ago, and now they’ve presented a selection of articles and stats.

Cryptowriter has so far accounted for:

  • 140 Posts
  • 1,563 Likes 
  • 824 Comments
  • 1,004,665.8 Winning Voice

Good job, Cryptowriter! We love the action!

mBlu's Uplift Art Auction Raises 204, 474 WAXP for Charity!

mBlu Crypto was literally rocking our World with his awesome “My Bitcoin Bull” Anthem, which was published as the first Music Video NFT and auctioned off on Uplift.Art

We saw lots of livestreams and interviews to push this event, which successfully raised a total of 204,474 WAX worth over USD $8000 at time of writing. And that was just the first of more to come. You can learn more about this in his latest “Uplift.Art Summary and Path Forward” video.

What an impressive output!

After the auction it was time for some chill, and mBlu Crypto chose to do that in form of a nice relaxed fireside chat with EOS Nation’s CEO Yves La Rose. 

Tune in for a great conversation on EOS, NFTs, philanthropy, life and culture.

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 never accept 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 info@eosnation.io. 

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!

Introducing WAX Detective

WAX Detective puts forensic data analysis for the WAX blockchain at your fingertips — and EOS Nation is proud to make it available to everyone.

Curious? Explore the WAX blockchain like never before, and visualize the journey of tokens between accounts. Whether you’re a token holder just snooping around, or an exchange investigating the relationships between hacked accounts, anyone can be their own Sherlock with WAX Detective.

Read More »

EOSwriter: 1T1V. A Thorny Subject with Yves La Rose

This week Yves La Rose, CEO of EOS Nation, sat down with Chaney Moore, Head Writer at Cryptowriter, for an in-depth interview about the thorny topic of 1-Token-1-Vote (1T1V) on the EOS mainnet. Chaney Moore did a great job writing this article and we hope that the community will appreciate the additional context behind our recently announced public support of 1T1V.

Read More »

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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.

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Daniel Keyes

Chief Operating Officer (COO)
Responsibilities include: product management, operations, community
Location: Toronto, Canada

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.