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Yiedl Speaks About A Marketplace For NFT Rentals and Mortgages

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Yiedl Speaks About A Marketplace For NFT Rentals and Mortgages
Yiedl Speaks About A Marketplace For NFT Rentals and Mortgages

Tokyo-based crypto startup Yiedl has announced that it will launch a non-custodial peer-to-peer, or P2P, mortgage and rental market for non-fungible tokens, or NFTs. Yiedl founder and chief executive Kohshi Shiba asserted that the platform will support a myriad of tokens as most real-world assets are tokenized. “For assets that have persistent external utility, I believe NFT is an appropriate token form,” Shiba stated, listing subscription rights, decentralized autonomous organization, or DAO, memberships, and intellectual property rights, and in-game items as examples of assets that will see increasing tokenization.

Yiedl will comprise a P2P marketplace in which users propose their preferred lending or rental terms. When another user fills the order, Shiba stated that “the agreement is set on Yiedl protocol and [the] transaction occurs,” — with access to the leased NFT being provided following the receipt of initial rent. If loan repayment is not met on time, the NFT is automatically returned to its owner, with the entire process taking place without intermediaries. “I believe Yiedl opens up a new horizon for the NFT ecosystem, and there will be massive new NFT owners in the future,” said Shiba. “Owning NFT will also become an investment since Yiedl enabled NFT owners to earn passive income with their assets.”

To facilitate the platform, Yiedl created a modified version of the ERC-721 standard that has been made available as open-source for other developers to adopt, dubbed ERC-X. Shiba stated that the new toke standard “added two user classes to the existing ERC-721 standard” in the form of “user and lien.” “The idea behind it is that by supporting three user classes as default, application developers can assume that tokens can be rent[ed] out or collateralized,” said Shiba. “With ERC-721, it was impossible, and it caused difficulties when NFT owners rent/collateralize NFTs as the ownership is taken over by the contract address or tenant.”

Many companies are betting that NFTs will emerge as a leading use-case for crypto assets, with blockchain gaming and asset tokenization promising to expose distributed ledger technology or DLT, to wider audiences. However, it is still early days for the NFT sector in terms of infrastructure, with a surprise auction for a limited run of CryptoKitties leading to the Winklevoss-backed top NFT marketplace Nifty experiencing downtime last week.

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Ethereum DeFi Breaks Records in June, However, Other Categories Are Suffering

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Ethereum DeFi Breaks Records in June, However, Other Categories Are Suffering
Ethereum DeFi Breaks Records in June, However, Other Categories Are Suffering

Results for the second quarter of 2020 show tremendous growth for decentralized applications across all ecosystems, primarily spearheaded by Ethereum (ETH) decentralized finance, or DeFi. Decentralized exchanges were at the frontlines of the rise as Compound token mining activity trickled down to on-chain swapping solutions. According to Our Network, Curve was one of the biggest beneficiaries of yield farming as it helped users switch between different stablecoins to maximize yield. 

Curve is an automated money market that only supports swaps between different types of stablecoins and wrapped tokens. This limitation allows Curve to provide competitive slippage and fees for exchanging assets. Deposits on Curve rose almost three-fold in June, while daily volume reached peaks of $60 million — 30 times more than its previous average. Demand for USDT pairs was the highest, capturing more than 58.5% of the total volume. This is due to USDT having one of the most significant COMP yields for an extended period of time. Uniswap also benefited from the COMP craze, with monthly volume doubling in June. Kyber and 0x had more modest performances: despite posting fresh monthly highs, the project’s growth was in line with the rest of the year.

According to DappRadar’s Q2 report, the dominance of DeFi indirectly led to the decline of gaming activity. Over $8 billion was transacted on DeFi platforms in Q2, which led to gas prices soaring exponentially. Ethereum’s vibrant gaming DApp ecosystem suffered as fees came to represent a significant portion of each transaction. DappRadar reported a staggering 79% decline of gaming-related activity on-chain over the previous quarter.

EOS appears to be the main recipient of Ethereum’s loss as its gaming transaction volume rose by about 80% since the previous quarter. While this is positive news for the platform, it still hasn’t fully recovered from the damage caused by the EIDOS airdrop in late 2019. Volumes remain well below the highs of Q2 2019. Finally, Tron (TRX) saw growth in its DeFi ecosystem after porting several Ethereum projects on its chain. In addition to the previously-launched clone of Single Collateral Dai, a platform named Oikos.cash recreated both Synthetix and Uniswap on Tron. Nevertheless, total volume for all Q2 is just $15 million. The majority of Tron’s activity remains in the gambling and “high-risk” categories.

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EOSIO-Based Social Media Platform Voice Launches Ahead of Schedule

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EOSIO-Based Social Media Platform Voice Launches Ahead of Schedule
EOSIO-Based Social Media Platform Voice Launches Ahead of Schedule

Voice, a blockchain-based social media project developed by EOS creator Block.One, briefly went live one day before its scheduled launch. Based on the open source EOSIO protocol, Voice aims to use Blockchain technology to create a trusted social experience, free from bots and fake accounts. Revealed in June 2019, the project uses biometric authentication technology to verify every account, limiting accounts to one-per-person and promising to protect user data.

Voice’s main page temporarily displayed several posts from different accounts which featured multiple likes and comments. As of press time, the website is no longer available. It now displays “Error 1020” instead, which specifies that the website is “using a security service to protect itself from online attacks.”. In early June, Zalatimo announced that the platform is set to roll out on U.S. Independence Day. He noted that only registered users would be able to publish content or engage online.

After revealing their plans for Voice in June 2019, EOS’ parent firm, Block.One, invested $150 million in Voice during March 2020. The investment was said to provide Voice with resources to operate independently from Block.One. Numerous blockchain-related social media projects have been released to date.

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Cardano’s ADA Could Be Listed On Coinbase In 2020

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Cardano’s ADA Could Be Listed On Coinbase In 2020
Cardano’s ADA Could Be Listed On Coinbase In 2020

Cardano’s native cryptocurrency, ADA, may be listed on Coinbase by the end of 2020. This news comes following an announcement that ADA holders will soon be able to stake their assets in Coinbase custody.

A spokesperson from IOHK — Cardano’s development company — released the following statement replying to the question of whether a Coinbase listing is also in the works:

This news comes amid Cardano’s Virtual Summit, which revealed a plethora of news updates for the project this week. On July 2, it was announced that IOHK is launching cFund in partnership with Wave Financial Group. cFund will be a venture fund aimed at fostering adoption of IOHK’s blockchain platforms. The company has initially committed $10 million, with another $10 million to be raised by its partner. cFund is expected to make investments worth $250,000–$500,000 in “startup and early-stage businesses that build their products and services on IOHK’s blockchain technologies, including Cardano.”

In a recent tweet, Cardano founder harles Hoskinson pointed out that the Cardano Virtual Summit has already been attended by over 10,000 guests, making it bigger than popular Blockchain conference Consensus.

Charles Hoskinson

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