Tangleverse - A hub that boosts the tangle triad
We are back and joined the Tangleverse - welcome to the Tangleverse Times!
From the editorial desk…
[ - by Ness]
As promised in our last issue, we are back sooner than you might have thought, and we joined the Tangleverse. You’re wondering what the Tangleverse is?
Tangleverse is the first integrative platform that empowers and unites all kind of projects from the Tangle ecosystem. The website provides an overview of all the projects that are building on IOTA and Shimmer, as well as community projects where you can connect with other like-minded people. You can also find interesting educational articles there.
And ICYMI: the Tangleverse does not only publish our Tangleverse Times Magazine, but also a biweekly newsletter. You can subscribe to the newsletter on tangleverse.io and immediately receive the latest issue. For daily news from the ecosystem, make sure to follow Tangleverse on Twitter: @TangleVerseWeb.
Your voice matters!
Let’s show once more how amazing our ecosystem is
[ - by Mart]
With the launch of the Shimmer network well behind us and Shimmer EVM just around the corner, let’s talk about something very important: The upcoming governance votes for the Shimmer Community Treasury Grant Committee and the Shimmer Growth Committee.
In case you didn’t follow the process closely, application phase 1 for both committees started on November 9 and will run until November 30.
After the first phase is concluded, up to 20 applicants that received at least 50 “Yes” votes, will proceed to phase 2. In case there are less than 20 applicants with the required number of votes, the top 20 applicants will proceed to the next round.
Phase 2 will run for one week. It will start on December 1 and last until December 7. This phase will come in the form of a Poll on the governance forum, govern.iota.org. The ten applicants that receive the most votes will then proceed to the final phase: the Firefly vote.
Phase 3 will run for 14 days in total, starting on December 8 and run until December 21. Seven days are the “commencing period”, similar to every Firefly vote so far, and seven days will be the “counting period”. After the vote finished, the top 4 applicants will become grant reviewers and the person with the most votes in the lead category will become Committee lead.
For a better overview, this is a graphic that Phylo posted on the governance forum:
Why is it important to vote?
Looking at other ecosystems, it becomes obvious that many boast staggering community treasuries: Fantom has a $370 million incentive program, Harmony One has $300 million and NEAR Protocol also raised $350 million in a funding round.
While Shimmer’s treasury will not be as big in the beginning, there still are many chances. Harmony One, for example, had huge problems giving out grants. Some of the projects just took the money and never came back.
So, the composition of Shimmer’s committees is of utmost importance. The smaller the fund, the better it needs to be managed, to be effective and successful.
So far, 23 people applied for a position as grant reviewer and four people applied for the program lead position.
After some weeks of active discussions in different Discord channels and on Twitter, the governance working group announced an updated version three of the proposal:
Key difference: Only one applicant per organization is allowed.
While the active engagement of so many community builders speaks to IOTA's amazing ecosystem, this move was necessary. The committee needs to be as neutral as possible, for the incentive program to be a success.
What’s left?
Head over to https://govern.iota.org/c/shimmer-governance-proposals/51, check out the proposals, give the persons you like a Yes vote, leave a comment if you feel so, and keep attention to the rest of the voting process.
But most important: The Firefly vote starts on December 8!
The Tangleverse Times interviews Jelle Millenaar
If you have been in the IOTA ecosystem for a little while, you probably know Jelle Millenaar already. And in case you don’t: Jelle worked as the Lead Identity of the IOTA Foundation and is the Co-Founder and CEO of Impierce Technologies.
People who follow the IOTA Discord actively have noticed that you’re not a big fan of Shimmer. Do you think it was worth the effort? For example, if it helps test the Stardust upgrade and Coordicide thoroughly, does that make Shimmer worthwhile already?
“I am a large fan of a stable testing network for new updates such as Stardust and Coordicide. As Impierce Technologies, we will likely use Shimmer for testing purposes and appreciate the existence of the network. However, I stand behind my opinion that I don’t see a reason for Shimmer to have been given a value and to make it tradable on exchanges.
Companies that launch products on a DLT will look for stability in the network, but also in updates. The existence of Shimmer makes IOTA inherently more stable and updates can be tested on a separate network beforehand, which is great, but the obvious choice for product launches remains IOTA.”
Wallets and Interaction with DeFi
[ - by @DigitalSoulx]
Bankless Consulting provided eight Shimmer DeFi education sessions for the community. In the first session, they talked about Wallets and Interaction with DeFi. @DigitalSoulx summarized the first topic for you.
“Part 1: What are crypto wallets?
A normal wallet in your pocket holds your credit cards, ID, cash, etc. Your crypto wallet is not exactly the same; it doesn’t actually hold anything. Instead, it grants access to a personalized experience. However, your wallet does contain information in the form of public and private keys. These are cryptographic terms that allow one to buy and trade cryptocurrencies or NFTs. It’s important that as a beginner in the space you understand a little about how public and private keys work without getting too deep into the math. These are common terms, and actually the same technology is used to secure the connection between your web browser and a website.”
Community Member Spotlight: DigidusPrime (@DigidusPrime)
[ - Interview by @IotaPoet]
In this episode, IotaPoet interviewed community member DigidusPrime, to get to know more about the so-called IOTA Shitcoin King.
“Shimmer is REALLY exciting in all that it is bringing to the crypto world. When you think about how it stacks up against Bitcoin, the mess Ethereum is embroiled in, and other great protocols like Cardano, Polygon, and Cosmos…well Shimmer really stands out. It is delivering the best of the best with; speed, security, utility and especially its approach to decentralization. So few crypto enthusiasts know about these massive advantages. Through marketing its uniqueness and utility it will fuel adoption by devs and degens alike. This is how Shimmer wins.”
What’s new in Moonaco?
[ - by Ness]
Moonaco Podcast Episode 49: In this episode, Thomas was joined by Kappy of Nakama Labs.
Kappy has been working in traditional finance for 15 years and experienced the inefficient processes there. When he dived into DeFi, he saw all the opportunities crypto provides, and they started Nakama Labs.
Nakama Labs is a web3 venture fund focusing on Shimmer. The team currently consists of 20 to 25 people working directly or indirectly via partnerships for Nakama Labs. Right now, Nakama Labs is following two strategies:
Building and partnering with builders in the ecosystem
Direct investments in web3 teams
The community though can’t invest directly into Nakama Labs since there are many legal hurdles for the project to receive funding from too many people. But the team is currently working on creating a system and Tokenomics that benefit all stakeholders to launch a token in the future. For now, the community can get involved in the underlying projects of Nakama Labs like Accumulator and DeeprFinance.
Accumulator is a yield aggregator that compounds the interest that you can earn on a DEX, whereas DeeprFinance is a lending protocol. The protocol allows you to borrow assets based on overcollateralized positions. Before borrowing an asset, you first have to lend another asset into the market. You can also create leverage positions and by borrowing an asset at a low interest, there is the possibility to create arbitrage opportunities.
As soon as the Shimmer EVM Beta goes live, both platforms will be launched shortly after. With the launch of a lot of DeFi projects on the Shimmer EVM, Kappy sees a big disadvantage of the community. Most of the people haven’t experienced much in the web3 and DeFi world so that it is key that the community educates themselves on the opportunities and the risks that arise with dApps. Accumulator as well as DeeprFinance will both provide tutorials and articles about how to use the platforms. Users can then test the platforms with a test token. To incentivize the community to learn and test the platform, the team plans several airdrops of tokens and NFTs. Even if you are not a tech-pro, you can still take part in these airdrops. On DeeprFinance for example, you will have to perform tasks like providing collateral or borrowing an asset to qualify for the airdrops. Details TBD.
When deciding on which network to build on, the team quickly came to an answer: IOTA. And for its new staging network Shimmer, Kappy sees three major UPS:
The randomized order consensus: in other EVMs the highest bidder is normally the first transaction within a block. The Shimmer EVM however randomizes the order consensus. By doing this, validators and bots can’t manipulate the order to steal value from other users.
Feelessly mint tokens and NFTs and transfer them feelessly since the Shimmer consensus is on Layer 1.
Transaction finality within seconds and without fees. Compared to traditional banking systems where you pay high fees and sometimes have to wait for days for your transaction to pass, this fast and feeless finality is huge.
Spec Weekly - EBSI finals LFG!
If you want to learn more about what EBSI is, why it is important not only for IOTA, but the digital revolution in Europe, tune in to the latest Spec Weekly episode.
And that’s a wrap! Please like, share, smash that subscribe… or better yet, join us! Do you love to write? Passionate about the IOTA ecosystem? Do you have a project to share? Master at making memes?
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Leave us a comment and thank you for reading! See you next time!
Special thanks and honourable mentions to all the hardworking ICCD degens who contributed (in the form of written, editorial, design, advisory, and memetic support) to this edition: DigitalSoul.x (Rob), Mart, Ness, IotaPoet, DigidusPrime and Jelle Millenaar.
If you enjoyed the newsletter and would like to see it continue to grow, you can also donate here: iota1qp7l8s5026k7gvd2m0t8cyj754geslnl6vtt0cxzf0xlsvyeug2pv85rh78