Uniswap Sponsors $2.5 Million Audit Competition, Flexa Launches Crypto Point-of-Sale Toolkit
Market Update
Equities are showing slight increases today as investors weigh disappointing housing data against improved consumer confidence and steady inflation expectations. The SPY -0.17% and QQQ -0.21% have both increased by approximately 0.2%. Crypto assets are mixed with BTC -1.60% and ETH -2.16% gaining following yesterday’s late-day selloff, while altcoins are broadly lower. Net flows this week have been muted for both Bitcoin and Ethereum, with Bitcoin ETFs seeing $3.5 million in outflows and Ethereum seeing roughly $1 million in inflows. Among altcoins, Synapse, a cross-chain interoperability protocol, has surged almost 50% today after Binance listed a futures contract for SYN -1.92% , giving investors access to leverage trading. In contrast, meme coins are underperforming, with WIF -4.54% , BONK -2.75% , and PEPE all losing over 8% over the last twenty-four hours.
Uniswap Initiates $2.5 Million Audit Competition
Uniswap Labs is launching a $2.35 million audit competition for its upcoming v4 protocol, claiming to be the largest prize pool in DeFi history. The prize pool will fund independent reviews of Uniswap v4’s smart contracts and novel Universal Router system, enabling swaps between ERC20s and NFTs. The audit competition will go live on September 4th and run through the end of the month. Anyone can submit code vulnerabilities, and rewards will be allocated based on the bug severity and quality of submission documentation. Uniswap v4 is expected to improve DeFi with new features like hooks, which enable the customization of liquidity pools, adding functionality for dynamic fees, limit orders, and purpose-built oracles. Additionally, v4 will unveil Uniswap’s “singleton” contract, with all liquidity pools held in a single contract, improving capital efficiency and reducing transaction costs. Uniswap Labs wants v4 to be the most audited set of contracts ever deployed and ensure there are no issues upon deployment. UNI -1.96% is showing relative strength following the news, gaining 2.34%, while most alts are negative on the day.
Flexa Launches Point-of-Sale Payments Toolkit
Flexa, a crypto payments company, has introduced a new tool, Flexa Components, an asset-agnostic, embeddable toolkit allowing developers to interface directly with retailer point-of-sale systems. Flexa Components simplifies digital payments for merchants, allowing people to pay with digital assets at the point of sale. Customers can pay with their preferred crypto wallet, either by scanning a QR code or tapping a pay button on the merchant’s system. Flexa Components supports payments with USDC -0.01% , BTC -1.60% , ETH -2.16% , SOL -2.93% , MATIC 7.13% , LTC -4.60% , and other assets, and Flexa has already onboarded notable retailers, including Chipotle, Regal Cinemas, Mikimoto, and 99 Ranch Market. Flexa Components is simple for merchants to implement, with integrations taking less than a day and coming with out-of-the-box user interfaces, benefiting merchants with faster payment processing and cost savings. Flexa was founded in 2018 and continues to contribute to making digital assets a part of existing financial infrastructure.
Technical Strategy
As Mark Newton is on break, there will be no Technical Strategy section for this week. Mark will be returning on Tuesday, August 20th.
Daily Important MetricsAll metrics as of 2024-08-16 13:46:21 All Funding rates are in bps Crypto Prices
All prices as of 2024-08-16 11:58:44 Exchange Traded Products (ETPs)
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