Last Minute Development for Cardano and These 11 Altcoins!

The crypto community is looking forward to February 14, when the highly anticipated Cardano and Shiba Inu ascensions will take place. In the meantime, don’t miss out on important integration and partnership news from all over the altcoin market. Here are the hot developments from Cardano, Polygon, Rocket Pool and selected projects.

Ghost team announced they will be leaving the Cardano network

Ghost coin’s developer team has announced that it has decided to stop developing its bidirectional bridge on Cardano and focus on Polygon instead. GHOST is a proof-of-stake privacy coin created by the late John McAfee on the ERC20 standard in 2020 with Ghost chain after launching its own decentralized exchange McAfeeDEX in 2019.

The Ghost team has yet to reveal the reasons behind this decision.

Cardano (ADA) upgrade confirmed for February 14

Cardano developer company Output blockchain has made a clear statement about the date Cardano investors are waiting for for the new upgrade. Input Output community coordinator Rebecca Hopwood reports that after a period of community testing and close collaboration with share pool operators (SPOs), developers and reengineering teams, a joint Input Output, an update proposal has been submitted by the Cardano Foundation.

Accordingly, the upgrade will go into effect on February 14, a favorable time for Cardano (ADA).

DYdX approves grant program renewal

DYdX’s grants program, which is in the process of voting to propose its renewal during the week, is part of dYdX’s ongoing efforts to grow and support the development of its protocol, which raised over $392 million at TVL on Friday. “As the release of [version] 4 is currently scheduled for Q2 2023, we do not think it makes much sense to launch the dYdX grant proposal (DGP) 2.0 now,” the developers wrote in the new management proposal. Instead, as part of this proposal, they propose to use the remaining budget of DGP v1.5 to keep the program running until the schedule is ready for DGP 2.0.

The dYdX community has mixed views on the ongoing offering. So far, the program has funded 62 grants for a total of $2.1 million in funding in categories such as equipment, marketing and education, and community-led initiatives.

In addition to complaining about the long wait times required to get a response from the team, some members objected to the “excessive salary” paid to dYdX’s grant leader, Reverie, who is currently receiving $70,000 a month in compensation.
But other members were more supportive.

These 3 staking platforms rally after SEC’s prohibitive move

Kraken has agreed to shut down its cryptocurrency staking services as part of an agreement with the SEC. One of the obvious beneficiaries of the news is Ethereum’s decentralized staking platform Rocket Pool (RPL).

RPL gained 40% after SEC deal threatened centralized exchanges. Along with RPL, Lido was on the agenda in DAO (LDO) and Frax Share (FXS),

Uniswap DAO completes voting for proposed BNB distribution

Uniswap DAO has completed the final vote that will be used to implement the proposed distribution of Uniswap v3 on BNB Chain.

It ended on Friday, with 66% of DAO delegates in favor of the move, according to the voting page. Delegates with great voting power, including Ethereum software company ConsenSys and Compound Finance founder Robert Leshner, voted in favor of the proposal. Meanwhile, venture capital giant Andreessen Horowitz voted against the proposal, with 15 million votes in the process.

Binance deploys zk-SNARKs in proof of reserve system

Binance places zk-SNARKs in its proof-of-reserve (PoR) system to allow users to verify funds held on the platform. The exchange had just released a PoR system based on Merkle Trees, which it found was not ideal for user privacy.

Binance has now included a type of zero-knowledge proof of reserve called zk-SNARK in its proof-of-reserve verification. This will confirm that funds held on the platform are supported at a 1:1 ratio while maintaining the privacy of sensitive user data. Currently, this updated PoR system supports the verification of the exchange’s reserves for 13 different cryptocurrencies.

Phantom wallet adds support for authentication standards to protect against phishing

The Phantom crypto wallet has added support for the “Sign In With” standards for Web3 authentication. The standards aim to increase the security of users in their interactions with dApps and protect users from phishing attacks.

Phantom will now provide essential information to Solana and Ethereum users when interacting with decentralized applications (dApps) that adopt certain security standards, including Sign In With X (CAIP-122) and Sign In With Ethereum (EIP-4361)

MakerDAO announces integrating Chainlink automation

MakerDAO’s Chainlink integration expands Maker’s automated system Keeper Network. Automation will help stabilize the DAI infrastructure, including updates to the price and debt ceiling. The integration took place through a proposal regarding the integration that was accepted in a management vote by the Maker (MKR) owners.

MakerDAO has incorporated Chainlink’s decentralized oracle framework to enhance the stability of the DAI stablecoin.