We’re coming to the end of another week. The action in the crypto markets was filled with bullish sentiment, but let’s as always focus on what has been going on here at NewsCrypto.
The major news item from us this week was our update on Stellar-Polygon bridge. We have released the Testnet version, which is available here. Everyone is invited to try it out and swap between XLM on the Stellar testnet and wXLM on the Polygon Mumbai testnet. But be aware that this is only a testnet implementation. Do not send any Stellar mainnet XLM or any Polygon mainnet tokens to any address associated with the bridge, as that will result in the irreversible loss of funds.
There has been quite a lot of talk about the bridge here, but in order to clarify, let’s once again explain what the bridge does in a short and concise way:
While blockchains are a revolutionary invention, one important drawback is that they’re isolated from one another, so that you can’t hold the native coin of one chain on another chain. This is where our Stellar - Polygon bridge comes in: you can swap your XLM tokens from Stellar for wXLM tokens on Polygon, where you can use them in all the different DeFi protocols that Polygon’s rapidly growing ecosystem has to offer. Stellar and Polygon are both industry leaders in their own (very different) areas, and the bridge will allow you to get the best of both worlds!
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 this year, you can expect 5 more to come hand in hand with important milestones until the end of 2021. In order to stay up to date with key events regarding our project, follow us on our official Twitter account, where Newsco will provide you with all the updates and recent developments, reward active members of the community and even share secret tips.
This week we’ve also celebrated the 2 years anniversary of the first listing of the NWC. On this particular occasion we’ve released a blog that covers what has already been accomplished and a brief dive into our plans for the future. It starts with mentioning the exchanges, where you can purchase our token and all of the blockchains where it’s available, continues with the number of tokens we’ve burned, major partnerships and finishes with our token’s utilities and future plans. Make sure you check it out here.
As for our regular posts, this week’s Market Price report was about Chainlink (LINK), while the FA report covered Ethereum 2.0 Staking. Weekly How-to Crypto explained how to prepare a winning portfolio for an upcoming bull run, and our Weekly Crypto Report covered everything about Powell’s statement that the USA has no intention of banning crypto, the Coinbase hack and much more.