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As we move through Q3, a number of cryptocurrency projects are moving ahead with continued development, and this weekās choices are set to benefit from significant updates and announcements that should strengthen their market positions and benefit their communities. The news should also result in increased amounts of attention to each respective currency over the coming weeks. Ā Ā
Perlin is building a scalable DAG-based protocol that will helpĀ to develop decentralized applications (dApps) that require large amounts of computing resources and disk space.
The Perlin smart contract upgrade and token swap starts on August 24, and the upgrade will allow the team to initiate changes including increasing the PERL decimal places from 9 to 18, introducing DAO functionalities, and enabling an inflationary monetary policy and programmable incentives. The team will also remove the pause function that is currently present in the PERL token code in order to make the platform more suitable for DeFi. PERL holders can swap their PERL tokens at a ratio of 1:1 via the PerlinX interface, or keep their tokens on Binance, who are supporting the smart contract upgrade/swap. PERL transfers will be suspended at 4:00 AM (UTC) while the upgrade takes place, and the swap will last for 3 months, and end on November 30. You can find out more about the swap process by checking out this Medium post.
Akropolis is a decentralized finance (DeFi) protocol designed to allow the development of Autonomous Finance Organizations (AFOs). Products built on Akropolis such as Sparta and Delphi allow users to engage in decentralized loans and borrowing, and to yield farm DeFi tokens.Ā
The Akropolis team are aiming to expand their DeFi ecosystem this week by launching Opyn insurance on the Ethereum Rinkeby testnet. The launch will take place on August 25 and test out insurance for smart contracts across the protocol. Successful testing will enable smart contract insurance to go live across the platform and add to the Sparta undercollaterized credit pool and Delphi Robo investing features. Anyone with a technical background can check on the projectās development by visiting their official Github. Ā Ā Ā
Kava is one of the first cross-blockchain DeFi platforms developed by Kava Labs. The platform allows its users to generate funds by collateralizing their assets using Kavaās multi collateral CDP system. Kava is built on Tendermint consensus, and the Kava CDP platform is secured by over 100 validators.Ā
The team have announced that the Kava 4 Gateway Testnet will launch this week. Ā The launch is set to take place on August 27 at 14:00 UTC, and the testnet gateway will include Binance USD and Bitcoin support alongside support for Tether USD, and USD Coin stablecoin issuers. The team will also be testing out improvements to their Binance-Bridge technology as they aim to enhance their ability to support and integrate with assets held on different chains. Once again, successful testing will allow the features to go live on the main platform and help Kava and the DeFi movement to keep progressing.Ā
The seven day period generally led to poor results across the market. As for the previous week's top coins to watch,Ā Swipe was the worst performer and recordedĀ a significant loss of 24%.Ā TRONĀ has an uneventful week, and saw aĀ smallĀ loss of 2%.Ā Ocean Protocol was among the weekās strongest performers, and improved by around 30% over the week.Ā Over the course of the week, the total cryptocurrency market cap moved from $379.8B to $367.16BĀ (-3.3%)
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