It’s time to sum up our main developments, as another week comes to an end.
As you already know, our team is working on a token bridge for Polygon, which will enable token holders to securely transfer their funds over to the largest full-stack Ethereum scaling solution in the crypto space. It actually empowers the holders to maximise their investment, as they can put their tokens ‘to work’ by providing liquidity on DEXes, lending, borrowing and a lot more. Our team is putting all efforts into implementing multiple layer security in order to make the protocol as safe as possible - and this week, we announced that we will be integrating the world’s leading decentralized data provider network, Chainlink.
More specifically, we will implement their Proof of Reserve. By running an independent node Chainlink will enable the smart contract that will be used for the swap to continuously keep track of relevant token balances and prevent illegitimate transactions, and further down the line, we will also implement other Chainlink-based solutions for a lending and borrowing protocol that will feature innovative ways of incentivizing both liquidity suppliers and borrowers.
Even though our Platform has already received its update in the past week, we’d like to encourage you again to check out the more user-friendly Interface, new Tools, Indicators, Unchained education, more Academy content and improved Membership system. Since crypto is a fast-paced world, which requires constant improvement in order to stay at the top, we would like to encourage you not only to give us feedback regarding recently implemented changes, but also share your ideas and wishes, so we can keep satisfying your desires.
Apart from the 20% of all subscription fees that we remove from circulation regularly, we also burned $1 million worth of NWC (you can check the burn transaction here). Having promised 10 burns before the end of the year, you can expect 6 more to come hand in hand with important milestones in the following months. In order to stay up to date with key events regarding our project, consider following us on our official Twitter account.
And as for our regular posts, this week’s market price report was about AVAX, while the FA report covered the first project to implement sharding called Elrond Network. The How-to Crypto and Weekly Crypto reports were delayed due to hurricane Ida, but these posts will be back next week.