On Monday, the first cross-chain governance proposal passed on decentralized finance, or DeFi, borrowing and lending platform Aave. According to DeFi Llama, the amount of total value locked on Aave is approximately $12 billion. As told by its developers, an executed proposal on Aave, which is built on the Ethereum (ETH) network, was sent to the Polygon (MATIC) FxPortal. The mechanism then reads the Ethereum data and passes it for validation on the Polygon network.

Afterward, the Aave cross-chain governance bridge contract receives this data, decodes it, and queues the action pending a timelock for finalization. The #DevelopmentTeam  wrote:

The Aave cross-chain governance bridge is built in a generic way to be easily adapted to operate with any chain that supports the EVM [Ethereum Virtual Machine] and cross-chain messaging.

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Everest, a decentralized financial service provider for identity verification, eKYC, crypto custodianship announces it has integrated with Polygon. Basically, the integration presents the Polygon users and developers admittance to Everest’s biometric-based identities, eKYC/AML, and regulated CRDT stablecoin for fiat-in/out worldwide to hundreds of DeFi projects in the ecosystem.

Of note, Everest provides users access to over 200+ coin pairs, earning and borrowing features, payouts, foreign exchange, and staking. Its unique biometrics-based digital identity solution empowers users to digitally verify their identity for public services and claim their social and economic rights. 

Everest brings its suite of regulated financial services to Polygon’s “Internet of Blockchain” by making its EverChain fully interoperable with the Polygon PoS chain. Since Polygon is the leading platform for Ethereum scalability and infrastructure development, by partnering with Everest, users can now access a wide array of features.

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On Sunday, January 30, 2022, the top smart contract protocol tokens by market capitalization is $592 billion or 32.66% of the $1.8 trillion crypto economy. Meanwhile, the total-value locked (TVL) in decentralized finance (defi) protocols is $192.42 billion up 5.28% since January 23.

Defi TVL Climbs More Than 5%, Ethereum Defi Dominance Still 60%, Cross-Chain Bridge TVL Jumps 13.5%
At the end of the week, crypto asset prices have rebounded from the market carnage that took place seven days ago. During the last week, the top two leading crypto assets bitcoin (BTC) and ethereum (ETH) have gained 7% to 9% in value against the U.S. dollar.

A week ago today, the TVL in defi dropped under the $200 billion mark and hit a low of $182.76 billion on January 23. Since then, the TVL has increased by 5.28% to $192.42 billion, according to Sunday’s defillama.com metrics.

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First and foremost is the cost. Minting, buying, selling, and trading NFT’s on the Algorand blockchain is cheap. Incredibly cheap.

Right now, it costs just a fraction of a cent to transact on Algorand. Compare that to other layer-1s, and the argument for Algorand almost makes itself. Even after last August’s highly anticipated London Hardfork that sought to make Ethereum more efficient, gas prices on Ethereum have continued to remain extremely high. This has resulted in artists and content creators having to shell out anywhere between $50-$800  to issue a single NFT.

On the flipside, Algorand enables the creation of high-volume NFTs in a manner that is both practical and feasible — especially for smaller, independent artists who may not have access to a lot of capital.

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Binance, which is one of the leading crypto exchanges around the world, has recently announced that it has started a new partnership with Gulf Energy Development. With the new partnership, the parties will work on the establishment of a new digital asset trading platform in Thailand.

According to the statement made by Gulf Energy, the recent agreement with one of the largest crypto exchanges in the world is a way for them to keep up with the rapid growth of the cryptocurrency market in the country.

According to the representatives of the company, the two sides will work on studying the opportunities in the country in terms of future crypto development. As for Binance, it seems the partnership is the first step in exploring cryptocurrency trading opportunities in the country.

According to Binance, they will work with different groups to establish a crypto and blockchain system that fits the demands of Thailand’s market perfectly. This way, the crypto giant hopes to create a service that perfectly fits the demands of the local crypto enthusiasts.

The cryptocurrency trading market has become increasingly popular in Thailand. The younger, tech-savvy generation of the country is especially interested in the market. The country has become largely positive in terms of crypto and the market is thought to have a huge future in Thailand.

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The Bitcoin (BTC) mining network contributed less than 0.08% to the world’s total carbon dioxide (CO2) emissions, according to digital asset investing firm CoinShares. Data obtained by the company suggests that BTC mining is responsible for a marginal share of the global CO2 emissions, in particular when compared with the variety of services that are facilitated by the use of the cryptocurrency.
The Bitcoin mining network produced some 36m tons of CO2 in 2020 and 41m tons last year. The study claims that, owing to flare mitigation, an estimated 2.1m tons of CO2 equivalents could be removed from the market, bringing BTC mining’s total net emissions to the level of some 39m tons per year.


However, even at this point, the BTC mining network generates an insignificant share of total emissions, which amounts to less than 0.08% of the total, according to CoinShares.

“As a frame of reference, countries with large industrial bases such as the United States and China emitted 5,830 Mt and 11,580 Mt CO2e in 2016, respectively,” the report said.

Moreover, the carbon footprint of BTC mining can hardly match that of a number of traditional industries which are responsible for significantly higher CO2 emissions, as demonstrated by CoinShares' figures.

“Estimates of the emissions caused by minting and printing fiat currencies come in around 8 Mt per year and the gold industry is estimated to generate between 100 and 145 Mt of CO2 emissions annually,” according to the study.

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Ethereum price analysis is bullish today.
ETH/USD saw bullish momentum return yesterday.
$2,550 resistance currently tested.
Ethereum price analysis is bullish today as we expect more upside to follow after a higher low was set above $2,300 yesterday and bullish momentum returned since. However, the $2,550 mark could offer strong resistance if not broken over the next hours.

Ethereum price analysis: ETH begins to advance, ready to break above $2,700? 1
Cryptocurrency heat map. Source: Coin360
The market has seen bullish momentum return over the last 24 hours. The market leader, Bitcoin, has gained 1.72 percent, while Ethereum has gained 2.31 percent. The rest of the top altcoins follow with similar results.

Ethereum price movement in the last 24 hours: Ethereum begins to push higher, finds resistance at $2,550 again
ETH/USD traded in a range of $2,367.83 – $2,576.46, indicating substantial volatility over the last 24 hours. Trading volume has declined by 16.66 percent, totaling $12.96 billion. Meanwhile, the total market cap trades around $303.8 billion, resulting in a market dominance of 17.72 percent.

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FLOKI or Genesis NFT holders will require a small investment to receive limited edition  NFTs when FLOKI smart contracts are upgraded.

Floki Inu has announced the launch of #Floki Gemstone NFTs. The NFTs grant holders “VIP access” and unique benefits. The NFTs need to be earned, meaning they cannot be purchased. There are three NFTs: the Aurum Gemstone of Truth, the Diamond Mind Gemstone, and the Ruby Heart Gemstone.

How Do I Earn Gemstone NFTs?
By buying 1 ETH or 7  BNB worth of FLOKI tokens within 24 hours of the contract being tradable and holding the tokens for at least 72 hours, one can earn the Diamond Mind Gemstone NFT. Another way to gain the NFT is if one owns a Genesis NFT or no held FLOKI tokens were sold this year, only 0.5ETH or 3.5 BNB worth of FLOKI tokens are required. Those who earn the Diamond Mind Gemstone NFT will also acquire the Aurum Gemstone of Truth NFT.

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