It’s been quite the week for pTokens as they surged to the forefront of the EOS community’s attention. The rise of pTokens on EOS started a few weeks ago when eosfinex announced they’re using pBTC for users of their platform who wished to withdraw bitcoin to their EOS account. This vote of confidence by the Bitfinex team helped spur adoption of pBTC on EOS. A few weeks later, Bitfinex also announced the integration of pTokens into their centralized exchange.
Swept up by the hype, our Chief Community Officer, Stéphane Bisson, took to Twitter to proudly showcase that he wrapped the 21st Bitcoin on EOS. Defibox joined in on the action by enabling an EOS/pBTC liquidity pool, which quickly ballooned up to impressive levels and is right now sitting with approximately $1M USD of liquidity. Acquiring Bitcoin from your EOS account is now just a few clicks away, thanks to the great products offered by pTokens and Defibox.
pTokens is a wrapped coin solution that allows users to use various crypto assets across other blockchain networks. Their push onto EOS in the last few weeks raised questions about the safety of the pBTC that resides on EOS. While the team does plan to decentralize their protocol and the control of the custodial accounts, this next phase of their project is not quite ready just yet. Thankfully, the strong and flexible permission structure of EOS allowed pTokens to increase the security of their funds on EOS without having to wait to upgrade their protocol. We’re proud to say that EOS Nation are now part of the MSIG that secures the pTokens contracts on EOS, alongside eosfinex, Equilibrium and EOS Argentina.
And pTokens is bringing more than just Bitcoin to EOS! Here’s the full list of assets that are now supported by pTokens on the EOS network: BTC, LTC, ETH, PNT, MRK, LINK and YFI.
With all these assets now available, things are certainly getting extra spicy for DeFi on EOS! Want to get involved with pTokens? Check out the pTokens DAO and consider becoming a pTokens validator! Haven’t yet handled Bitcoin on EOS? What are you waiting for? That feeling of sending bitcoin in 0.5 seconds is something everyone should experience at least once in their life! 😆
And in other EOS-token related news, we’re glad to report that AEX now offers USDT (EOS). AEX is a popular Chinese exchange that has been in communication with Martin Breuer, our Regional Director of Asia, as they look to implement and offer more EOS tokens on their platform. Good job Martin for helping them with the listing and thank you AEX for strengthening the EOS ecosystem!
HallowEOS, Girl Gone Crypto & Cypherglass
HallowEOS is back! We know this year’s Halloween might not resemble those of previous years (stay safe!), but thankfully a pesky virus isn’t going to stop the EOS community from coming together virtually and sharing some EOS pumpkin art!
Organized by Adrianna Mendez, CEO of Cypherglass, this pumpkin carving contest even comes with a significant prize pool with 350 EOS up for grabs for the top 3 pumpkins. Join in on the fun and carve your pumpkin to represent your favorite EOSIO network, project, or idol! Running low on inspiration? Check out some of the previous year’s entries, they’re truly fantastic!
How to Enter: Tweet a photo of your EOS-themed pumpkin to @CypherglassBP with #HallowEOS before the clock strikes midnight EST on Oct. 30, 2020
Cypherglass also recently announced a media partnership with the very popular GirlGoneCrypto, which should lead to some great Twitter content for EOS. Their first piece covers some common misconceptions around EOS. Check it out!
Upcoming WAX NFT Series & Newly Elected Inspector General
These Atari collectibles are sure to bring back many fond memories for those of us old enough to remember playing classic Atari games. The NFTs are representations of their classic games and come in 6 stunning rarities, including the Collectors Edition Ultra Rares that contain a small animation of the video game embedded within them.
It’s great to see some of the much-hyped WAX Advisory Council members releasing NFTs on WAX! Get your funds ready, the series goes live in early November!
Speaking of getting funds ready, the next 2 weeks will see a flurry of NFT activity! Here are some of the upcoming sales:
Congratulations to Ellie Cheng and Ben Petersen for winning the most recent WAX Office of Inspector General election with over 22M votes! Ellie & Ben are going to replace Rob Konsdorf of EOS Detroit and serve a 9 month term, as is standard for all Inspector Generals.
New to the whole WAX NFT scene? Get caught up on all the action of the last 6 months in this great recap article by EOSGO highlighting some of the best projects that have deployed on WAX so far.
BlockBase Scalability Design
As recently mentioned by Dan Larimer in a YouTube interview, EOSIO can scale and decentralize by having a hierarchy of chains, all communicating together. In case you didn’t know, this is already happening on the EOS Mainnet!
BlockBase network has been producing one such sidechain on EOS since May, hashing the block headers of the side chain to the EOS Mainnet every 10 minutes. This allows the sidechain to leverage the decentralization and security of the EOS Mainnet at a very low cost.
The latest BlockBase article goes into more detail and describes the approach and technology used by BlockBase. The most interesting part of BlockBase is the fact that anyone can request a sidechain, which will be generated by providers who meet the sidechain requirements.
According to BlockBase, “the sidechain request, providers candidatures, providers selection, sidechain production start, next block producer selection, timely block production validation, signatures threshold checking, provider banning, and provider payment, is all done through the smart contracts in the main chain, through which all nodes in the network communicate and organize themselves.”
And finally, the sidechain providers are rewarded for their work by being paid in BBT tokens on the EOS Mainnet, making this a fairly straightforward method of running sidechains on EOS.
To highlight the power of this solution, BlockBase explains that a sidechain needs to execute about 24 transactions per 10 minutes for production coordination and for storing the sidechain block headers to assure data integrity. Assuming a maximum throughput of 4000 transactions per second on EOS applied solely to BlockBase sidechains, the EOS Mainnet would be able to run 100,000 BlockBase sidechains simultaneously! Now that’s some serious scalability!
Watch the recent Blockchain Herd podcast with Mary Delgado to learn more about BlockBase, as she welcomes Ricardo Schiller (Lead Architect) and Diogo Bulha (Lead Development) from the BlockBase team for an hour long interview. To scalability and beyond!
Communities on Voice: Cryptowriter
This week saw a big upgrade to the Voice platform as they released the new Communities section of the app. There are 14 communities you can sign up to, allowing you to start customizing what you see on your feed.
Of course we were happy to see Cryptowriter as the most popular community with 186 members so far. Check out the Community introduction post, which highlights 13 writers and what you can expect to see from them on the platform.
Brendan Blumer's Forbe Interview
It’s always good to see more mainstream exposure for EOS, and this Forbes interview with Brendan Blumer does exactly that. Brendan shares his thoughts on the future of blockchain technology and how Block.one and EOSIO fits into that picture. Some of the topics discussed include:
The three core components of Block.one (building EOSIO, investing in EOSIO, and building on EOSIO)
China’s DCEP & BSN
2020 Monetary Stimulus
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: Pomelo: Quadratic Funding Explainer, The EdenOS Community is Growing Every Day, EOS PowerUp Telegram Bot, Free CPU now on Atomic Hub, EOSIO Lab by Google Cloud, Reminder: NDX To DEX Swap
EOS Hot Sauce ingredients: Introducing the Pomelo Crowdfunding Platform, Nodeos: Stable EOSIO 2.1 Release, Newdex Whitepaper V2.0 with ETH and CEX Listing Focus, Early Access to Anchor on Android, Cryptowriter Finds a New Home
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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.
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.