Synthetix V3 Goes Live On Optimism

Quick Take

• Bundlr Network introduces a data integrity solution.
• Synthetix deploys its V3 upgrade.
• Uniswap supports NFT purchases with any ERC-20 token.
• Element Finance sunsets its front end to focus on its Hyperdrive AMM.\

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Optimism Highlights 🔴✨

Synthetix V3 Goes Live
Synthetix V3 is now live on Optimism and Ethereum Mainnet. It aims to enable greater decentralization, security, and scalability. The initial V3 release only supports the generation of CDPs, however, new features will be rolled out in the coming months. Synthetix V3 also focuses on providing cross-chain functionality. Synthetic plans to integrate Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to enable cross-chain stablecoin transfers. It hopes to create a liquidity layer that spans multiple chains. Synthetic V2 users will also be able to migrate their positions to V3, where a legacy market will be used to back the Synthetix V2 system.

Bundlr Introduces Proof of Provenance

Bundlr Network, a scaling layer for Arweave, introduced Proof of Provenance, a new solution for proving the origin of data. Bundlr allows users to pay for permanent storage on Arweave in over 15 supported tokens. It provides a scalable solution by bundling data. Currently, over 90% of Arweave transactions are processed by Bundlr. With Proof of Provenance, developers can add custom metadata tags to their data, including a verifiable timestamp of the upload date. Adding attributes makes it easier to categorize and search for information. The tool aims to help builders solve data integrity issues and accurately prove the origin of data.

Purchase NFTs On Uniswap With Any Token

Uniswap released support for NFT purchases with ERC-20 tokens. The feature uses Uniswap’s Universal Router contract to find the most cost-efficient route, swaps it for the listing token, and executes an NFT purchase with the acquired tokens. The feature only supports single-input tokens on Ethereum Mainnet. Uniswap aims to reduce the number of steps required to purchase an NFT by bundling token swaps and wraps into a single transaction. The exchange plans to enable multi-token NFT purchases in a future release, which would allow users to use multiple tokens for a single purchase. Ether is still required for the transaction fee.

Element Sunsets UI To Focus On Hyperdrive

Element Finance, a fixed and variable yield protocol, is sunsetting its user interface to focus on the next iteration of its protocol called Hyperdrive. Only a single pool, bb-a-USD, remains available with a maturity date of May 4th. Element says it will publish guides on how to fork its open-sourced front-end repo to set up a new UI. After May 4th, users will only be able to access front ends deployed by the community. According to Element, Hyperdrive is a new AMM that will enable capital efficiency while also solving for fragmented liquidity. Element plans to deploy a testnet for Hyperdrive in the coming months with security audits planned for April.

OnChainDen Raises $2.8 Million

Den, a multi-sig wallet solution built on Safe, raised $2.8 million in a funding round led by IDEO CoLab. Den plans to use the fresh capital to expand its team and ship its products at a faster pace. Den helps onchain teams speed up their operations by parsing transaction data, simulating transactions, and notifying signers about signature requests via automated messages.