Explained by Mercuryo #29

The 29th edition of our curated newsletter.

In today’s newsletter we look at:

Yield Guild Games to the Rescue
New-Gen Ethereum Addresses
Token Delegation for Better Governance
Aave’s Improvements
Ethereum and the New Bug

Play-to-Earn

Investing in Yield Guild Games

Some countries were hit by Covid harder than others. In response to the suffering, Gabby Dizon, a Philippines-based gaming entrepreneur, began lending out his Axie Infinity characters to his community. Tokens made in the game could be exchanged for local currency.

This new “play-to-earn” model marks a meaningful evolution in gaming economies. Since the model proved to be working nicely, Gabby, Beryl Li, and their third cofounder created Yield Guild Games (YGG), encouraging more people to give play-to-earn games a try. YGG players lent in-game items to earn tokens and can cash them out for local currencies. Alternatively, they can purchase in-game items they originally lent.

Brand-New Names for Ethereum Addresses

Full DNS Namespace Integration to ENS Now on Mainnet

The most widely integrated naming standard, ENS has announced that full DNS namespace integration is now live on Ethereum mainnet. This integration enables the owner of a DNS second-level domain name (a DNS name with one dot) to import the same name for use on ENS.

If you own “example.com” on DNS, you can import it into ENS — as example.com, not example.eth, and set ENS records for it like receiving payments in crypto to your website. Read all about the update in the article.

Mercuryo Co-Founder’s Piece

2Crazy About NFT

Opinions and curated pieces by Mercuryo Co-Founder Greg Waisman – Follow on Twitter

A New Way to Govern

Open Sourcing a16z Token Delegate Program

Crypto protocols do not just come out fully formed but gradually evolve, with control shifting outward as the network scales upward. The ideal result of such transition is an open protocol not controlled by any person or company, running as designed, and remaining open to anyone who wants to use it. Token delegation is one way to do so.

Token delegation refers to the process where a token holder transfers their on-chain governance rights to others. It is a way to expand the participants in the governance process. When done effectively, it’s ultimately a way to seed the development of a higher-quality governing body over the long term.

All About Community

Cross-chain Governance and Open-Sourcing Aave UI

Aave is committed to creating open-source software that empowers users’ independence. Community members use the power of decentralization to contribute to the ecosystem, growing around any software protocol. Since the community expressed that the protocol should be deployed to networks other than Ethereum, Aave Governance cross-chain bridges were created.

And there’s more news. The codebase of one of the front-end interfaces to the Aave Protocol is being open-sourced. The code will be available to anyone and may be distributed and modified.

Splitting Nodes

Bug Impacting Over 50% of Ethereum Clients Leads To Fork

The Block reported that a bug affecting older versions of a major Ethereum client is causing nodes to split from the main network, resulting in over 54% of the nodes running with a serious infrastructure bug. This bug could lead to double spending attacks, where cryptocurrency is spent, but the alternative chain overwrites the transaction.

This issue was discovered in an audit of Telos EVM, the version of the Ethereum Virtual Machine running on the Telos blockchain. After Ethereum core developers were informed about the issue, they released a patch to fix it. However, the solution only helps those who have upgraded their nodes.

Something You Could Have Missed

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This is a weekly newsletter curated by our Blockchain Lead Vyacheslav Akhmetov. We cover the most sparkling events in the industry and sharing more about our journey.