DISCOVER

[Weekly Settlement] ISO 20022 Ecosystem News from 11/1/2021 to 11/7

Fennec

It’s Fennec, who wants to play with cats and also Earn. Last week’s crypto currency news roundup!

Arai-san

I don’t know if it’s Play to Earn, but in the time it takes to get to the postcard, Alai will try to figure out the governance of the cat conservation ecosystem. It’s a recap of last week’s events, by ISO-related assets!

Do you think about it for me?

I’ll think about it!

News Article – 30 incidents

11/1(Mon) – 2 incidents

$ETH

[Decryot] Ethereum Is Now the Primary Collateral for Decentralized Stablecoin DAI

41.4% of DAI’s backing assets are ETH. This is a significant percentage of the total DAI, just as much as the 34.5% of Circle’s USDC and the 6.4% of Paxos’ USDP combined.

$USDC

[Crowdfund Insider] President’s Working Group on Financial Markets Publishes Stablecoin Report

11/2(Tue) – 4 incidents

$AVAX

[The Block] Avalanche launches fresh $220 million investment fund

$DOT

[BeInCrypto] Polkadot Flips XRP After New All-Time High, Parachain Auctions Near

The Parachain Auction, a vote to determine which chains will be connected to Polkadot’s Parachain, will be held on November 11 for the first time in five months since the previous auction in June. In exchange for locking the DOT for up to 96 weeks (about two years), participants will be rewarded when the parachain connection they vote for is decided. You can join via Polkadot’s official wallet polkadot{.js} or Binance. Check it out if you’re curious!

$USDC

[BeInCrypto] Biden Administration Releases Report on Stable Coin Regulation

[Decrypt] Coinbase Acquires Machine Learning Startup Agara for Over $40M

11/3(Wed) – 10 incidents

$ADA

[AMBCrypto] 3air solves Africa’s massive internet access problem with Cardano-based ISP platform

$ETH

[Decrypt] CME Says It’s Launching Ethereum Micro Futures as ETH Soars to New Highs

[Crowdfund Insider] Bitcoin, Ethereum, USDC Payments Support Enabled by OLB Group via Mastercard Cryptocurrency Processing

$QNT

[Fintech News] Swiss Accounting Tool Bexio Joins SIX’s Open Finance Platform

$WTK

[PYMNTS] Mastercard Will Make Digital Currencies Work if Issued by Governments

[PYMNTS] Mastercard Debuts Card for Visually Impaired

It’s a great invention! The shape of the slit in the body can be used to identify the card type!

$XDC

[Ledger Insights] JP Morgan, Oliver Wyman predict CBDC to save $100 billion cross border payment costs

[PYMNTS] China’s First Cross-Border eInvoicing System Integrates Local Business Into Global Supply Chain

[Ledger Insights] Digital yuan pilot surges to 140 million, 10% of population

[Global Trade Review] Tradeshift launches cross-border e-invoicing solution for China

The People’s Bank of China is considering trade digitization with Corda-based Contour.

11/4(Thu) – 4 incidents

$KLAY

[forkast] South Korea’s Kakao, Com2uS, others race toward the metaverse

GroundX, a subsidiary of Kakao, an internet service company and the creator of Korea’s CBDC, launched an NFT publishing service called Krafter Space in May 2021. It’s an Ethereum-forked Klaytn blockchain infrastructure with no gas fee.

No gas fee is very attractive. Since it is cross-chain compatible with OpenSea and NFTs can be moved, it is amazing that the structure can protect the value of NFTs even if GroundX’s activities stop. The Ethereum fork of the virtual currency works in favor of the NFT.

$USDC

[Decrypt] Coinbase Confirms It’s Launching a Subscription Service With Zero Fees

$XDC

[Ledger Insights] China’s 6 state owned banks part of M-CBDC Bridge SWIFT replacement

It was announced that 22 private institutions would participate. The details include all six state-owned banks in China, as well as several banks in Hong Kong and the UAE, and six banks that participated in the project Inthanon-LionRock in Hong Kong and Thailand: HSBC and Standard Chartered Bank in London, Goldman Sachs in New York, Paris They are Societe Generale in Paris, UBS in Basel, and DBS in Singapore.

$XLM

[Crowdfund Insider] Automated Market Maker Functionality Is Now Live on Stellar, a Blockchain based Platform for Cross-Border Payments

11/5(Fri) – 5 incidents

$HBAR

[forkast] hashport launches to power cross-network digital asset transfers

$LINK

[Crowdfund Insider] Chainlink, a Blockchain Oracle Provider, Celebrates Passing $75B TVS Mark

$QNT

[PYMNTS] Today in Payments Around the World: Poland’s Allegro to Pay $1B for Czech Retailer Mall Group; ECB Board Member Optimistic About Digital Euro

$XDC

[forkast] Asia-Middle East multiple CBDC bridge builds out business use cases for international payments

[Ledger Insights] Goldman adopts DAML for digital asset tokenization efforts

Goldman Sachs, a participant in the mCBDC project, is about to start tokenizing digital assets in the DAML language. DAML is a language that can be used to develop interoperable applications across protocols, and is often used for enterprise blockchains and databases.

11/6(Sat) – 5 incidents

$DOT

[The Block] The Path to Creation of Slot Auction Derivatives

$ETH

[Decrypt] Bitcoin, Ethereum Mining Threatens Paris Climate Agreement: Swedish Financial Regulator

$QNT

[The Block] Switzerland’s marquee digital assets projects are finally coming together

SIX (Swiss Infrastructure and Exchange) has announced that SDX (SIX Digital Exchange) will go live on November 10. Please refer to the file “Slides for the Virtual Market Participant Briefing on Wednesday 10 November” on this page of the official website. This document also mentions that SDX is built on the Corda platform.

$USDC

[AMBCrypto] BITCOINCoinbase to allow users to borrow up to $1 million

$XDC

[AMBCrypto] China sees 10% rise in e-CNY wallets, first case of money laundering using digital yuan

11/7(Sun) – 0 incidents

Since there was no news, I will check the market. Over the past month, trading volume on Uniswap and SushiSwap had returned a lot. This week, Uniswap V2 alone has burned 3 times as much ETH as OpenSea.

The tools I used for analysis were Dune Analytics and ultra sound, which I mentioned in this article. (It’s in Japanese)

Afterword

Issuance of PoS token -> Airdrop to guardian -> KYC’d guardian transfers cat (actual) & free issued cat NFT to fosterer -> fosterer delegates token & cat NFT, that’s it!

You thought of that! It feels like Unizen to use NFT for delegates.

I wanted to create a system where the guardians and foster parents could get their just rewards. This is how it works.

  1. Conditions for receiving airdrops: KYC completion and completion of simple social tasks. The number of protected cats does not affect the amount of drop.
  2. KYC is used to verify identity (and real cats), resolve disputes, and limit one address and one wallet.
  3. Can only be done after KYC is complete: free issuance of cat NFTs, transfer of NFTs with cats, and validation runs.
  4. Cat NFT: Have the parameters be “the issuer”, “the health of the cat”, and “familiarity” (shelter cat/outsider cat/house cat). Not Burnable
  5. Additional staking rewards can be earned by locking cat NFTs with tokens: additional rewards will only occur if the cat NFT’s “the issuer” is a third party and its “familiarity” is “outsider cat”. Cat health is a factor in increasing APY.
  6. The “familiarity” parameter of the cat NFT automatically changes according to the lock period from “shelter cat” (trial period) to “outsider cat” (reward period) to “house cat” (no reward period); the status does not revert unless the NFT is transferred to a third party.
  7. The only time the “health of the cat” is reflected in the NFT parameters is when it is transferred to a third party.
  8. The higher the number of successful cat transfers, the more equity the validator can leverage.
  9. The more third-party issued cat NFTs you hold, the less additional staking reward you will earn.

That’s a lot of words! I’m worried that people will get too many cats for the reward.

If we make the number of animals protected irrelevant to the amount of airdrops, and make it impossible to earn additional rewards without a “third party issued” certificate (NFT) that is transferred along with the cat (actual), we can avoid malicious multiplication of animals by the guardians. By making cat NFTs unburnable (history that cannot be erased) and reducing the reward as the number of third-party issued NFTs held increases, we can reduce the benefits for foster parents who have many cats and prevent the number of abandoned cats from increasing.

Can we prevent abuse and the problem of sick and adult cats not being adopted?

Sick cats and adult cats tend to have higher medical costs, so we raise the APY based on the results of medical checkups. To prevent abuse, acquired diseases will not affect the APY.

I am worried that NFTs will be issued and transferred/validated without the cat, or that people will continue to be rewarded with the cat’s NFTs when the cat dies.

If “Cat” is also included in the C of KYC, it would prevent the issuance of NFTs for cats that don’t exist. Cat NFTs would be automatically converted to “shelter cat” (trial period) immediately after delegation, then “outsider cat” (reward period) through the lock period, and then “house cat” (no reward period). House cat NFTs can’t be used for validating unless they are transferred elsewhere, so if there are no cats (in-kind), NFTs can’t be transferred and they can’t be unfairly rewarded.

It’s interesting to see how NFT has become a part of the family along with the cat.

It was difficult! We won’t be issuing any tokens because of the tight tax regime, but please share your ideas and suggestions with Fennec on Twitter. Arai-san will be pleased!

I’d be happy to receive questions and feedback, if not opinions. Thank you very very much, Arai-san.

It’s fun to think of these mechanisms. See you next week!

Don’t call the cat “actual”, folks.