StarkWare to Open Source Its Ethereum Scaling System

“Every step we take to provide infrastructure, and to make it accessible and decentralized, is a catalyst for devs to build,” StarkWare co-founder and President Eli Ben-Sasson said in a statement at the summit. “And the quicker and more broadly they build, the faster we’ll see mass onboarding to solutions that truly enable people to manage their own funds. So there’s a direct line between open-sourcing key tech and popularizing self-custody.” Source

The White House Is Concerned About Crypto

“I think that given the events of the last fall, we were very mindful of the need to implement a lot of the safeguards that were called for in the FSOC reports, things like segregating customer assets, getting additional visibility into vertically integrated firms, cracking down conflicts of interest, addressing spot market jurisdiction and that’s a long list. But I think they’re all part and parcel of how we make sure we’ll be protecting consumers and supporting financial stability,” the official said. Source

Decentralized Lending Protocol Centrifuge Accrues $6M Unpaid Debt

Centrifuge’s loan dashboard also shows there are four loans worth $3.3 million late with payment in its REIF pool, which provides capital to finance commercial real estate mortgages. However, REIF Financial Investments, which is an investment company that focuses on commercial real estate acquisitions, said in an email that all loans had an option to extend with an additional 12 months, thus avoiding default. The firm added that it contacted Centrifuge to update the dashboard. Source

Options Automated Market Maker Lyra Deploys to Arbitrum Network

Before the upgrade, Lyra’s market maker vaults (MMVs) paid swapping fees for every collateralization and hedging trade. For example, when a trader buys a call option contract on ether (ETH), Lyra’s MMVs would purchase ether from a spot exchange, incurring a fee; once the trader’s position has closed, Lyra’s MMVs would sell back the ETH used for collateral, incurring yet another fee. Source

Why Crypto Is Not an ‘Industry’

Skimming through the main crypto news sites this morning, there are articles about crypto exchanges, non-fungible token (NFT) platforms, decentralized lenders, game developers, new blockchains, custody services, data storage, asset managers and more. What is the common business activity here? Source

MakerDAO Constitution Would Fund Sustainability Efforts With 20K MKR Tokens From Reserves, Emissions

On Twitter, in response to the 20,000 MKR being allocated to fight climate change, Moneysupply.eth, a risk analyst and governance contributor for several decentralized protocols, including MakerDAO, wrote, “So here’s a contrarian take: I am not convinced this specific initiative is the best path forward but [decentralized finance] desperately needs to start winning the battle for public opinion, the alternative is all of us in jail and the rest of the world buying their bug rations with cbdc [central bank digital currencies].” Source