A little bit of chit chat
Moonbeam and Boba, a blockchain Layer-2 scaling solution and Hybrid Compute platform, have announced the winners of their latest hack challenge. The first place went to Partavate Studios, which developed a space trading MMO (Orbiter 8) designed to run entirely on a distributed ledger network and be client agnostic so anyone can build a different client interface that will work with the same game. The other winners were a lottery game, an AMM, and a DEX with limited slippage.
This week Astar reached major milestones. On one hand, the parachain reached 5 million transfers while surpassing the 400,000 token holder barrier.
A change in staking rules? 🥩
As the launch of Nomination Pools approaches Polkadot, a governance discussion has been raised around raising the minimum requirements for nominations to prevent a high number of waiting nominators from piling up instead of using the Nomination Pools and earning rewards.
Anyone can become a nominator as long as they have 10 DOT staked and the cap of a maximum of 55,000 nominators is not filled. However, in every Era, only the highest 22,500 nominators get to win the election and earn rewards, leaving the other 22,500 as “waiting” nominators.
Given the dynamics of the staking process, the proposal asks to increase the minimum DOT needed for people to nominate from 10 to 50 DOT, and then automatically forward anyone with less than 50 DOT to use the Nomination Pools.
Boosting democracy 🗳️
Phala and its canary network Khala are looking to grow their Council from five to eight members to foster a more democratic culture on the networks. As the networks grow, the network will add more seats.
For the process, Phala encourages candidates to post a statement on why they want and deserve to be part of the Council in the community forum for other members to evaluate each candidacy.
Some guidelines have been made public on who the ideal candidate looks like:
Understanding the Phala council election algorithm and the delegation process.
Contributed to the community before; the more credit you get from the community, the greater your chance of winning an election. I suggest each candidate make a running statement in the Phala forum to introduce themselves to the community!
Having high commitment time to the Phala community. It frequently requires participants in council discussion, 2-3 motions per week need brief discussion and decisions. Every council member must join the debate on time, on-call weekly.
Following up on Acala ✅
Acala continues to progress on tracing efforts to recover as much as possible of the erroneously minted aUSD from two weeks ago. In the latest development, the team announced that they had identified the remaining 51,000,000 aUSD from the batch.
However, they are still working to trace nearly 70% of the involved transactions after the incident. Out of the 16 addresses identified, some swapped part of the erroneously minted aUSD, leading to a disruption in swap ratios of aUSD with other paired tokens in the pools on Acala Swap.
This week’s crowdloans
Weekly Spot: A recently spotted Polkadot /Kusama native NFT
CryptoGavs A collection of art around Gavin Wood.
Wrap Up
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