Week through Adrian's Lenses (08-14 June 2024)
This is the #75th edition of the "Week through Adrian's Lenses" weekly Hive and crypto news roundup.
Let's see what we have for this week. We cover:
Hive
- LEO
- HiveFest
- SPK Network
- V4V App
- WorldMapPin
- Distriator
- VIMM
- Rising Star
- Splinterlands
- Hive
- Web 3 School
- Boreholes
- HiveCubaCon
- New to Hive
Crypto
- Curve Finance
- MicroStrategy
Week on Hive
15 of 29 tracked posts made it to this week's issue of the "Week on Hive" roundup.
In the Spotlight
More Financial Developments in the LeoVerse
Although these are announcements of announcements, they deserve the coverage they received throughout the week and one of the spotlights in the Week through Adrian's Lenses news roundup.
If you don't know what this is about you can read the extended version here.
The gist of it is that LEO (the one on Arbitrum), by having a liquidity pool on Maya, will be able to be used as collateral when taking loans on the Maya protocol, as soon as the feature will be added over there.
Loans will have dynamic interest rates based on the TVL across the protocol, and at least part of the collected interest will be paid to liquidity providers, since Maya suffers a bit from not having attractive APRs across its pools.
Since we reached the point of APRs, after paying out the next and last Geyser rewards to the liquidity providers on Uniswap, these inflationary rewards will be switched from incentivizing the pool on Ethereum to the one on Maya. On the LEO-CACAO pool they will be distributed as shares in the pool, autocompounded, instead of liquid LEO, how they were distributed for LPs on Uniswap.
The post also talks at the end about a number of partnerships with "communities, platforms and key opinion leaders in the Thorchain & Maya & ChainFlip ecosystems", and that we should get ready for "massive inflows in terms of monthly active users as well as investors to LEO, HIVE and HBD". Let's hope that will be the case! We kind of need it, don't we?
Updates on HiveFest 2024
The most recent announcement presented 4 more speakers to the mid-September conference:
- nikita, the CTO of the Decentr Web Browser
- @ crimsonclad
- @ khaleelkazi
- @ hallmann
Also, the location of the day 1 of the conference was introduced: the Gallery Meštrović.
The list of sponsors was updated as well.
Governance / Development / Dapps
SPK Network: Final Testnet Sprint
An announcement by the SPK Network team was published this week about the beginning of the last testnet sprint this coming Monday (June 17th).
The post describes the areas where testers should focus (they can choose any of those bullet points or all of them), if they choose to participate. There will be rewards for participating and sharing findings on various social media platforms.
Another Walkthrough Video For V4V App
The V4V.App is highly used in Latam among the Hivers over there, from what I've seen by watching (some of) their HBD-related posts over time.
That's why these walkthrough videos from Brian of London, the creator of V4V, are really useful, especially since he knows how to present things without using dev talk.
I imagine that, based on them, Spanish versions are created so that Latam community better understand what's new.
Pinmapple Lives On as WorldMapPin
@detlev will continue the legacy of Pinmapple under a different brand, WorldMapPin, and will have the support of a team of curators, among them @lizanomadsoul who was one of the main curators of Pinmapple. We have announcements from both WorldMapPin and Pinmapple to describe the transition.
The Distriator: Cashback for HBD and BTC Lightning Purchases
Do you make purchases in physical stores using HBD or BTC Lightning? If you post about them on Hive (looks like an alt account is recommended), The Distriator pays between 35 to 60% cashback on your purchases, and it is funded via beneficiary rewards of all posts that are created with the app. The more you use the app, the more cashback you receive... Cashback is sent as liquid HBD.
VIMM at the End
I missed this important but sad piece of news in Hive's history last week. VIMM has closed down, basically due to lack of funds to keep paying the monthly bills. It's a tough world the live streaming services, and these guys have done wonders for so long. If you are subscribed to their service via Paypal, they advise you to cancel your subscription immediately. Premium memberships paid with HIVE they should have cancelled them from their side, but it doesn't hurt to check.
Games
Rising Star at Nasdaq... Trade Talks
Jux (founder of Rising Star) was one of the guests to this episode of Nasdaq Trade Talks. Another guest was Andrew Wagner, also from Hive (we talked about his initiatives in last week's spotlight article).
I think this was an overall good interview, but my wonder from last week remains if it was a great audience to target. We will see, I guess.
Splinterlands... Updates
Splinterlands doubled the SPS requirements in the Wild format and will introduce a Wild pass for the same format from the new season, according to this proposal that passed.
A proposal to create a new SPS Foundation to replace the existing one has been made. The new legal entity should be under the control of the SPS stakeholders, unlike the existing one. Dave Mccoy was nominated as the person to handle the formalities and be the initial CEO of the SPS Foundation.
Meetings / Events / Communities
Hive Empower Project
This project aims to introduce students to Hive and teach them about it. In a first event, students from UDS (University of Development Studies) in Tamale, Ghana learned about Hive and its ecosystem. There's a long photo gallery to check out.
Internet Is Working at the "Web 3 School in Venezuela"
After many drawbacks regarding establishing internet access to the selected school and classroom, finally there is a breakthrough. And that apparently happened after @nahupuku attended a Web 3 conference, where he met the owner of an internet provider, who eventually made things happen through his company. Here are more details.
Plans for New Boreholes in Ghana
Hive funded the building of 14 boreholes in Ghana in 2 years. Looks like plans are under way to build 2 more boreholes at the same time, after a survey phase is completed. We are told that building the 2 boreholes simultaneously (but at different phases) increases efficiency, which I'd say makes sense.
HiveCubaCon in August
HiveCuba announced the date (25 August), hour (10am-5:30pm) and place (Habana Espacios Creativos) for this year's HiveCubaCon.
New to Hive?
Do you know someone who just joined Hive? This guide could prove useful to share.
Week in the Crypto World
CRV Token Crashed by 30% as Founder of Curve Finance Got Liquidated
I talked way too much about collateralized lending recently. Here's its ugly side, when the price of the collateral tanks until your collateral gets liquidated to repay the loan. That happened with the founder of Curve Finance this week, as the token of its platform dived by 30%, and he got liquidated (note that liquidations don't happen on all platforms). Here are all the details.
MicroStrategy Takes More Debt to Buy Additional Bitcoin
MicroStrategy is offering 700m USD of 2.25% convertible senior notes due 2032 (upsized from 500m). Initial purchasers may buy an additional up to 100m USD 2.25% unsecured notes also due June 2032. Proceeds will be used to buy bitcoin and for general corporate purposes.
What does this financial write-up lingo mean? It means that Microstrategy is taking more debt to buy bitcoin. The fact they offered to take more debt than initially announced (upsized the offering) denotes there is interest for these notes, and that they can take on additional debt. The 8-year maturity shows they can enjoy this bull market and maybe part of the next one before they need to pay back the principal. Now compare 2.25% interest per year they need to pay with how much bitcoin rises during bull markets... Of course there is a bear market too, and that's where they proved to be smart because I haven't heard of them being liquidated at any point, bull or bear.
Full list of "Week through Adrian's Lenses" posts
Want to check out my collection of posts?
It's a good way to pick what interests you.
Posted Using InLeo Alpha
Wow, Leo news keep on coming, and they are exciting. The SPL changes are not something that I like, but I hope it bears fruit this time around. The Distriator is very interesting. I wonder how sustainable it is, and how long they can keep it up. It is very good incentive to use and post on Hive though.
I'm even more excited about the last part about partnerships and massive inflows of users and investors. If that materializes even at 50% of what is probably estimated at, I believe it will have a major positive impact on Leo and Hive.
I truly hope the SPL ecosystem will experience some sort of recovery soon, and hopefully enough long-term players/investors would still hang in there, although I do understand whatever anyone decides to do.
I thought about its sustainability too. I guess it depends on how much its beneficiary rewards are set at. At first, I thought it would be an issue that people paying with Bitcoin Lightning also receive cashback from Hive inflation, but to receive it they need to have a Hive account, so that's a way to potentially attract a certain category of users to Hive.
I think the partnership with Maya is a good one as it will help boost the hive platform. I hope it succeeds as planned. Thanks for the updates. Have a great weekend.
I also find the Maya connection important for Hive, because it's a place from where many other ecosystems can be reached, directly or indirectly, without using CEX intermediaries.
It sucks to hear that VIMM closed down. I haven't heard much but I do think they had some issues with servers in the past. It's sad to see but I guess they didn't earn enough to keep the services running.
Yes, that's the reason. They needed to come up with money from their pocket every month to run the service. I saw another post after publishing this roundup where they might be looking into re-opening it in a way that is more sustainable.
thanks a lot for cover our labour here!
You are welcome! Not many would have had your determination to find a solution to finish that job.
yesss but we can do it! thanks a lot againg for the support
I hear that Hivefest will be in 3 months time. Hopefully it wouldn't just be a moment to merry and drink alone, as ways to move this Blockchain forward will and should be discussed.
Yes, mid-September. We could use some serious analysis, that's true. Maybe we'll have some major updates to create excitement more than during the period of the event (VSC? LeoDex? I don't dare say anything else).
Thanks for taking the time to compile all of these together, it was truly informative.
You're welcome. Thanks for dropping by!
And how can we take the loan?
Is it applicable to every account or old accounts only?
We don't know yet. This hasn't been released yet.
Any account, but it's on Maya Protocol, not on Hive.
So cool how Maya is integrating LEO for collateral with dynamic interest rates. It seems like a strategic move to boost liquidity and attract more users. There's certainly going to be more progress with this move right bro
Yes, adding lending to Maya (and with different parameters than on Thorchain) is likely a move that desires to attract more capital, mainly. Since LEO is on Maya, it will benefit if this addition has a positive effect in the interest of outside capital in Maya.
This is some very good thing happening for Inleo.. so proud of the community
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Also, how can we take loans on the Maya protocol?
They are not available yet. Will be introduced soon.
https://x.com/ChidubemMbaba/status/1801937787056206166?s=19