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Uniswap Sponsors Esports Squad Team Secret With $112,000 Grant

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In brief

  • Uniswap has announced a partnership with esports organization Team Secret.
  • The deal comes via a $112,500 grant awarded via community voting.

You might catch the familiar Uniswap unicorn logo in an unfamiliar place soon: esports competitions, player jerseys, and video game streams. That’s because the Ethereum-based decentralized exchange (DEX) today announced a partnership with Team Secret, an esports organization that competes across several games.

According to a news post from Team Secret, the organization will create educational content around Uniswap and cryptocurrency, as well as develop esports industry activations for the partnership. Team Secret CEO John Yao is quoted as saying that the team is exploring investing in cryptocurrency to hold on its balance sheet, as well, following similar moves from firms such as Tesla and MicroStrategy.

Coinbase recently announced a partnership with esports team Evil Geniuses, along with sponsorship of Counter-Strike: Global Offensive competitions from tournament operator BLAST. However, Coinbase is a centralized exchange that is operated by a public company, whereas Uniswap is not.

Uniswap is the leading decentralized exchange on Ethereum, at times even rivaling trading volumes on Coinbase, and plays a crucial role in the decentralized finance (DeFi) space. “DeFi” is essentially shorthand for a group of financial services, mostly on Ethereum, that operate without third-party intermediaries. For example, on trading protocols such as Uniswap, all the buying and selling happens peer to peer, without a third party ever having control of the funds.

Uniswap recently launched its v3 upgrade, an updated version of its DeFi protocol for token swaps and liquidity pooling. The exchange also operates through community-driven governance, including voting by UNI token holders.

The sponsorship was awarded through the Uniswap Grants program by Uniswap’s decentralized autonomous organization (DAO) and first revealed on May 12, although the partnership was only officially announced today. According to the voting announcement, Team Secret was awarded $112,500. A note alongside the grant award states, “The first time in history a DAO sponsors an esports team? Won’t be the last,” alongside a winking emoji.

The Uniswap Grants program primarily provides funding to developers that build tools around Uniswap. However, one pillar of the program is for “Community” projects focused on “growing the ecosystem,” and a sponsorship of a popular team with plans for educational content fits that bill. Decrypt has reached out to both Uniswap and Team Secret for further details on the partnership.

Founded in 2014, Team Secret is best known for its successful Dota 2 squad. That team has earned nearly $11.6 million in prize money alone, according to Esports Earnings, making up the vast majority of Team Secret’s competition winnings to date. Team Secret also fields squads in Rainbow Six Siege and League of Legends, along with mobile games League of Legends Wild Rift and PUBG Mobile. The team also recently announced a partnership with blockchain-centric gaming infrastructure startup, DMScript.

The Uniswap community is currently voting on whether to allocate 1 million UNI (about $26.6 million) to a “political defense” lobbying fund proposed by the Harvard Law Blockchain & FinTech Initiative (HarvardLawBFI). As of this writing, more than 60% of votes are in favor of the proposal ahead of a June 5 deadline for the current Consensus Check stage. If successful, then the voting process will enter the final stage with a formal Governance Proposal.

Source: https://decrypt.co/72463/uniswap-esports-squad-team-secret

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Crypto wallet Zumo adds support for Bitcoin SV (BSV) after BTC and ETH

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Zumo, a crypto wallet and payments app, has announced that it can now be used to store and receive the cryptocurrency Bitcoin SV (BSV).

BSV is the third cryptocurrency to be supported by the non-custodial Zumo wallet. Users can also hold or trade Ether and Bitcoin.

Bitcoin Satoshi Vision (BSV) emerged from a hard fork of Bitcoin Cash (BCH); which itself emerged after a hard fork of Bitcoin (BTC). It is an extension of the same original blockchain with some amendments that have targeted the dual benefits of cheaper transaction fees and increased transaction capacity.

The name comes from its supporters’ belief that BSV aligns with the original vision of Satoshi Nakamoto; who first published the white paper explaining Bitcoin.

£10,000 worth of Bitcoin SV giveaway to celebrate

To celebrate the arrival of BSV to the wallet, Zumo is launching a giveaway of £10,000 worth of Bitcoin SV. Any UK resident who opens a new wallet with Zumo passes ID verification and makes a £1 deposit between June 25th, 2021 and July 26th, 2021 will be eligible to win the prize of £10,000 in BSV.

“We’re excited about offering BSV to our users. We’re hoping to introduce British crypto investors to BSV; as well as attracting new users who have never engaged with smart money before. To anyone who’s considering getting involved in crypto I’d say: we’re here to help.”
– Paul Roach, Zumo’s Chief Product Officer

Source: zumo.money

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Source: https://www.cryptoninjas.net/2021/06/25/crypto-wallet-zumo-adds-support-for-bitcoin-sv-bsv-after-btc-and-eth/

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TA: Bitcoin Breaks $35K, Why BTC Bulls Aim A Larger Rally

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Source: https://www.newsbtc.com/analysis/btc/bitcoin-breaks-35k-rally/

Bitcoin price regained strength for a fresh increase and it broke $35,000 against the US Dollar. BTC is likely to accelerate higher towards $36,500 or even $37,000.

  • Bitcoin started a fresh increase above the $34,000 and $35,000 resistance levels.
  • The price is now trading nicely above $34,000 and the 100 hourly simple moving average.
  • There was a break above a major bearish trend line with resistance near $33,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair is showing positive signs and it could even rise towards the $37,000 level in the near term.

Bitcoin Price is Gaining Pace

Bitcoin formed a base above the $32,000 zone to start a fresh increase. BTC broke the $33,500 resistance the 100 hourly simple moving average to move into a positive zone.

The upward move gained strength above the 50% Fib retracement level of the downward move from the $36,200 swing high to $28,850 zone. There was also a break above a major bearish trend line with resistance near $33,500 on the hourly chart of the BTC/USD pair.

The pair is now trading nicely above $34,000 and the 100 hourly simple moving average. Bitcoin is now trading above the 76.4% Fib retracement level of the downward move from the $36,200 swing high to $28,850 zone.

Bitcoin Price

Source: BTCUSD on TradingView.com

It is showing a lot of positive signs and it could continue to rise above $36,000. On the upside, an initial resistance is near the $36,200 level. The main resistance is now near the $37,000 zone. Any more gains could lead the price towards the $38,000 zone.

Dips Limited in BTC?

If bitcoin fails to clear the $36,200 resistance or the $37,000 resistance, it could start a downside correction. An immediate support on the downside is near the $34,500 level.

The next major support is near the $34,000 level. The main support is now forming near the $33,500 level and the 100 hourly SMA. A downside break below the 100 hourly SMA could open the doors for a fresh drop towards the $32,000 zone in the coming sessions.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now well above the 50 level.

Major Support Levels – $34,400, followed by $33,500.

Major Resistance Levels – $36,200, $37,000 and $38,000.

Source: https://www.newsbtc.com/analysis/btc/bitcoin-breaks-35k-rally/

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DeFi protocol Oxygen to get series of audits from Kudelski Security

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Oxygen, a DeFi prime brokerage service built on Solana and powered by Serum’s on-chain infrastructure, announced today it has signed a strategic agreement under which Kudelski Security, a division of the Kudelski Group in Switzerland, will provide security assessment and architecture support for the platform.

Soon, Kudelski will conduct a series of reviews and audits of Oxygen’s functionality and interfaces. Meanwhile, Kudelski will have an ongoing collaboration with Oxygen to assess future enhancements, changes, or additions to Oxygen’s protocol.

“Institutions and individual investors have a right to expect that they can trust the quality, reliability, and stability of the Oxygen ecosystem. For Oxygen, this partnership provides transparency, promotes absolute confidence that the protocol does precisely what it promises and demonstrates its security; all based on a thorough assessment by a leading global expert in cybersecurity.”
– Viktor Mangazeev, Co-Founder of Oxygen

Audit Focus

Most importantly, the Kudelski Security team will perform a source code assessment, architecture review, and architecture verification of the Oxygen.org finance system.

Firstly, special attention will be focused on the contracts mechanism, finance logic, yields, borrowing, lending, and leverage mechanisms, as well as other related funds safety considerations

Moreover, verification analyses will confirm that formulas, cryptographic/mathematic, etc. in the software faithfully implement the specified intent of the protocol. Testing will also include a dynamic examination of key financial risk scenarios such as edge situations, liquidity events, and more.

“I’m very excited to be working with Oxygen on this series of engagements. It is important to show strategic leadership in promoting cybersecurity. Comparable traditional businesses have years of audits and tests; and the emerging ecosystems must put their best foot forward to build the trust of users and environmental partners.”
– Scott Carlson, Head of Blockchain Security for Kudelski Security

Oxygen is built on the growing and liquid Serum ecosystem; which leverages an on-chain orderbook to match borrowers and lenders to provide fair rates. Currently, Solana processes up to 50,000 transactions per second. Each transaction costs just $0.00001, and Solana plans to further scale these capabilities.

Source: Oxygen.org

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Source: https://www.cryptoninjas.net/2021/06/25/defi-protocol-oxygen-to-get-series-of-audits-from-kudelski-security/

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