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Ethereum Classic (ETC), Filecoin (FIL), and Lido DAO (LIDO) have been dominating the altcoin sector as they outperform Bitcoin and other large cryptocurrencies. The first crypto by market cap has been recording its best month in 2022 but is still far from the monthly average return from these tokens.

According to Arcane Research, altcoins have seen an average of 40% performance over the past month as the crypto market experienced a “classic relief rally”. July has been a historical green month for digital assets.
During this period, the nascent asset class has seen the expansion of two critical sectors, decentralized finances (DeFi) and non-fungible tokens (NFTs). As seen below, the rally has been particularly positive for mid-cap cryptocurrencies.
Source: Arcane Research
This market rally has translated into a reduction of Bitcoin and stablecoins market share, suggesting an increase in risk appetite for crypto investors, and more strength for Ethereum. Arcane Research noted:
Ether’s lack of strength relative to bitcoin last week has been reversed this week, as ether has increased its market share by 0.43 percentage points, while bitcoin has lost 0.22 percentage points. Notably, bitcoin and stablecoin are losing market share this week (…).
Ethereum might be critical for understanding the current price action. The cryptocurrency has a tentative deployment date for “The Merge”, the event that will combine its execution layer (Proof-of-Work) with its consensus layer (Proof-of-Stake).
Altcoins, such as Lido Dao and Ethereum Classic, might benefit from the imminent shift in this blockchain. The former cryptocurrency has rallied because more users want to stake their ETH and participate in Ethereum (2.0) consensus model to receive rewards.
Ethereum Classic has seen positive performance because it might become a safe haven for ETH miners. This sector faces inevitable destruction as ETH’s new consensus model will validate transactions with a different mechanism.
ETH’s price moving sideways on the 4-hour chart. Source: ETHUSDT Tradingview
Will The Merge Provide Altcoins With Further Bullish Momentum
In that sense, and up to “The Merge” mainnet launch, altcoins might continue to extend their bullish trajectory. Data from a pseudonym user highlights the importance of this event and why it might inject fresh capital into this ecosystem further driving the price of Ethereum and the altcoin sector.

The user claims this cryptocurrency will become Environmental, Social, and Governance (ESG) friendly. This will provide new institutions with the confidence to bet on Ethereum’s long-term success. The user said:
No matter your personal thoughts on ESG, if you want mainstream cryptoasset adoption controlling the narrative around emissions and sustainability is essential. Bitcoin has decided to ignore the issue; Ethereum unlatching itself from PoW should be a positive for both assets.


Ethereum Classic (ETC), Filecoin (FIL), and Lido DAO (LIDO) have been dominating the altcoin sector as they outperform Bitcoin and other large cryptocurrencies. The first crypto by market cap has been recording its best month in 2022 but is still far from the monthly average return from these tok...

newsbtc.com

How Summer Is Turning Into A Short-Lived Altcoin Season


Magic Square is launching Phase I of the Magic Store Beta after the completion of seed funding supported by Binance Labs, Republic Capital, KuCoin Labs, DAO Maker, and GSR, alongside other leading investors in the blockchain space. 



The first app store in the crypto space is finally live. Over the course of the last few months, Magic Square witnessed much anticipation with over 100,000 people signing up for Phase I of the Magic Square Beta. 



In Phase I of the Beta, the Magic Store would be visible to everyone, and a selected group of Magic Square community members would have exclusive access to use and earn throughout the experience. 



In the future Beta phases, more and more Community Members would gain access to Use and Earn. The Magic Store goes beyond a decentralized solution. It is home to all crypto applications. 



What is the Magic Store?



The Magic Store is a central place for users to discover and access all kinds of crypto apps, NFTs, DeFi, Metaverse, GameFi, Exchanges, and more, filtered through searchable categories. 



Up until now, discovering new crypto applications has not been easy: Apple and Android Stores feature very few crypto-related applications, and alternate “dApp store” databases have proven to be extremely limited in their utility for app users and creators alike. 



“Our goal as a platform is to create an integrated, interoperable, united system to make using crypto intuitive and secure,” said Andrey Nayman, CEO, and founder. “The fragmented reality of the decentralized sphere is barring wider adoption of a technology that has revolutionary potential, and Magic Square is working to change that.”



The Magic Store provides a utility-rich interface for crypto-app discovery. At the heart of the Magic Store vision, is the quality assurance it promises. Magic Square has introduced a unique system of community validation to ensure that all featured apps on the Magic Store are secure and of a high-quality standard. 



Community App Validation 



Decentralization is inevitable to make sure that the products, apps, and services you use are trustworthy. Verifying that the crypto apps you use are quality has not been simple, that is, until now. 



On the Magic Store, each app must pass through a rigorous community validation process to verify that it meets quality and security standards before it is featured on the Magic Store. The implications for this feature are huge for crypto app users and creators alike. 



What does this mean for you as a Magic user?



The community validation process ensures the project itself is legitimate. You will find the scoring of each app before you start using it. 



You will be the person to decide for yourself if it will fit your needs and meet your personal standards based on the scoring of the Magic Community validators. 



As a Magic Square user, you can apply to become a validator yourself and earn rewards for reviewing and voting on new apps. 



You can also settle for use-to-earn rewards and earn tokens for leaving useful reviews, comments, and likes for other users to benefit from. 



The bottom line is that the Magic Store enables you to stop wasting time and energy worrying about whether an app is good enough, and instead, scan through easily searchable categories on the Magic Store to ease your crypto journey.



How will developers benefit?



Crypto app developers, up until now, have needed to invest disproportionate amounts of time and money into marketing campaigns, creating their own websites, building communities, establishing credibility, and more. 



Developers have to pass their apps through the community validation process as a first step. Once validated, the apps will be immediately made accessible, searchable, and trusted by eager crypto users. 



Magic Square provides additional benefits for every developer, such as grant funds to promote discovery and build traffic, as well as Magic Square-sponsored contests and the use-to-earn model which promotes traffic across the entire ecosystem. 



What do beta users get?



The Magic Store is only the beginning. Beta users in the first phase can now access the Magic Store to explore community-validated apps and searchable categories with a user-friendly interface. The Magic Square ecosystem is only getting better as it materializes. 



What can users look forward to?



Whether you’re a beta user, a developer, or you’re learning about the Magic Store for the first time, there is so much to anticipate for the future of crypto apps and the Magic Square ecosystem. 



Magic Square is in the process of building onto the Magic Store with supporting features that will make the product exceedingly attractive to users and creators alike. 



There will be an interface called “Magic Spaces” which will be a personalized space for users to manage and use all of their apps within internal Magic Square tabs. Magic Spaces will eliminate the need to download apps onto devices or open them on external websites or platforms. 



Everything will be consolidated, simplified, and streamlined inside Magic Spaces.



The “MagicID” will be the entry point into the Magic Spaces interface, enabling you to log in to all of your apps with one secure tap. 



Self-Sovereign Identity (SSI) technology will keep you in control of all of your app permissions, and you’ll be able to manage your privacy easily from within the Magic Square app. 



Ready to show the world your app?



Magic Square designed a one-of-its-kind affiliate marketing program, Magic Affiliates, to bring affiliate marketing to the next level with vast resources and funds. 



Magic Square is committed to building the top affiliate network in crypto, driving growth, traction, and conversion for all top-quality apps. 



In the meantime, affiliates will find exclusive offers and abundant opportunities to enjoy the perks of what Magic Affiliates has to offer. 



Never before have we seen such user-facing products in the crypto space to create a symbiotic relationship between crypto app users and creators built around trust and community. 



Be sure to follow Magic Square closely on all official channels as the waitlist for Phase II will be opened soon. 



Explore the Magic Store here.
The post The Magic Square Beta Has Arrived appeared first on BeInCrypto.


Magic Square is launching Phase I of the Magic Store Beta after the completion of seed funding supported by Binance Labs, Republic Capital, KuCoin Labs, DAO Maker, and GSR, alongside other leading investors in the blockchain space. The first app store in the crypto space is finally live. Over the...

beincrypto.com

The Magic Square Beta Has Arrived

On Sunday, the non-custodial market protocol Aave announced that the Aave DAO has approved a new stablecoin for the ecosystem called “GHO.” Aave Companies proposed the stablecoin during the first week of July and the collateral-backed stablecoin will be pegged to the U.S. dollar’s value.
A New collateral-Backed Stablecoin Crafted by Aave Companies Is Due to Launch After the Aave DAO Votes on Genesis Parameters
Aave explained on Sunday that the Aave decentralized autonomous organization (DAO) approved a proposal to create a stablecoin token called “GHO.” “The community has given the green light for GHO,” the official Aave Twitter account detailed. “The next step is voting on the genesis parameters of GHO, look out for a proposal next week on the governance forum.”
The GHO introductory blog post, published on July 7, 2022, says the stablecoin will be “backed by a diversified set of crypto-assets chosen at the users’ discretion, while borrowers continue earning interest on their underlying collateral.” The governance proposal was approved by a great majority of Aave DAO voters, as more than 99% of voting participants voted in favor of launching GHO.

The governance proposal’s approval snapshot says GHO will “provide benefits for the community via the Aave DAO by sending 100% of interest payments on GHO borrows to the DAO” and GHO will be “administered by Aave governance.” Aave’s stablecoin will join the stablecoin economy, which is currently valued at $153 billion. Tether (USDT) leads the stablecoin pack and usd coin (USDC) follows behind USDT, in terms of overall market capitalization.
GHO will also join stablecoin crypto assets that leverage collateral assets and some that leverage the method of over-collateralization. Makerdao’s DAI stablecoin is over-collateralized and Tron’s USDD is also over-collateralized, which means there’s more collateral than necessary to cover the stablecoin’s backing during times of extreme market volatility.
“As a decentralized stablecoin on the Ethereum mainnet, GHO will be created by users (or borrowers),” Aave Companies’ blog post about the subject explains. The blog post further adds:
Correspondingly, when a user repays a borrow position (or is liquidated), the GHO protocol burns that user’s GHO. All the interest payments accrued by minters of GHO would be directly transferred to the Aave DAO treasury; rather than the standard reserve factor collected when users borrow other assets.

Aave Companies Says Community Was Very Engaged With GHO Governance Proposal
Aave also has a native token which is ranked 45 out of more than 13,000 crypto assets today. The digital asset has a market valuation of around $1.46 billion and aave (AAVE) has increased 84.7% during the last month. The open source decentralized lending protocol is the third largest decentralized finance (defi) protocol in terms of total value locked. Data from defillama.com indicates that Aave has $6.59 billion locked on July 31. In mid-May, Aave launched a Web3, smart-contracts-based social media platform called the Lens Protocol. The Lens platform has more than 50 applications built on top of the Polygon (MATIC) network.
As far as the GHO stablecoin is concerned, Aave Companies said that the community was “very engaged with the GHO proposal, providing incredibly helpful and informative feedback.” Aave detailed some of the things mentioned by the community the team will focus on which includes DAO-set interest rate vulnerabilities, supply caps, a peg stability module, and the “necessity for properly vetting potential facilitators.” For now, the community will have to participate in voting on the stablecoin’s genesis parameters before the crypto token is issued.
What do you think about the upcoming Aave stablecoin project called GHO? Let us know what you think about this subject in the comments section below.  



























On Sunday, the non-custodial market protocol Aave announced that the Aave DAO has approved a new stablecoin for the ecosystem called &#x201C;GHO.&#x201D; Aave Companies proposed the stablecoin during the first week of July and the collateral-backed stablecoin will be pegged to the U.S. dollar&#x2...

Curve DAO price	$1.46
Low - High 24H	$1.38 - $1.49
Market cap	$573.93M
Volume 24H	$135.64M
All time high	$15.37 -90.44% August 14th 2020
All time low	$0.331577 343.03% November 5th 2020
Genesis date	N/A

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