Infinity Weekly: Scam Banking- Fraud

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Infinity Weekly: Scam Banking- Fraud

Happy Sunday & Welcome to Infinity Weekly. If this newsletter was forwarded to you, sign up here.


What's in Today's Email?

  • IC Ecosystem News
  • This Week in our Blog
  • A Busy Week of AMAs
  • Around the World
  • Weekly Chart
  • Meme Time
  • Weekly Opinion

IC Ecosystem News

♾ I See You: DFINITY continues its new efforts to become more community oriented with a call to projects. Apply (or submit a suggestion) for your favorite creators and developer teams by helping them gain more recognition!

♾ November Node Update: The markets may be in turmoil but the state of ICP nodes has never been better. The official November Node Decentralization report is up, and full of good news like storage increase of existing replica nodes, promising testing results of the fully autonomous NP (Node Provider) onboarding process, testing of 2nd Generation Hardware, and more.

The State and Direction of Decentralization & Nodes on the Internet Computer
Update November - Node Decentralization Following up on the roadmap that we posted four weeks ago, I would like to give an update of the decentralization activities since then. Before going into the details, let’s look at the network topology as of today versus last year. A lot of progress has been…

♾ Hello New Frens: Thanks in part to BitBoy's recent attention on the Internet Computer Protocol drawing new eyes to the ecosystem, we've seen an influx of curious minds wondering what the IC has to offer. For those new to ICP (and those who may need a refresher), prominent community voice and Sustineri Labs founder @accumulatingicp has written up a thread on how to get started on the Internet Computer.

♾ Lab Partners: ICP.Lab is an intensive week-long session with the DFINITY Foundation's esteemed engineers and researchers, open to outstanding, promising dapps being built on the Internet Computer. InfinitySwap was selected as the first partner to participate in the program, as an innovative project poised to break through the DeFi space. Read the official DFINITY blog to learn more about our InfinitySwap founders, Max and Alessandro, as well as read about their experiences with ICP.Lab.

The ICP.Lab Experience: InfinitySwap Talks Building on the Internet Computer With DFINITY
Highlights from InfinitySwap’s participation in the intensive program at DFINITY HQ as told by CEO Max Chamberlin.

♾ Airdrop Incoming: The SNS (Service Nervous System) is well on its way to becoming live soon. DFINITY team member Andrew Chepreghy announced on Friday that there will be an SNS-1 token airdrop for users of DSCVR, Distrikt, and OpenChat. You will have to claim the airdrop in order to receive them, so pay attention to official channels to know when to act!

DSCVR
Pushing the boundaries of Web3 social media. Built on Internet Computer.

This Week In Our Blog

#8YearGang or #8YG is a hashtag you often see used by ICP enthusiasts. What does it stand for? It references the maximum period of NNS staking possible, showing the dedication and faith they have in the Internet Computer. Read all about the NNS and how to maximize your staking rewards in our article.

The Definitive Guide to Earning Rewards on the Internet Computer’s NNS
You’ve probably seen the hashtag #8YearGang used a lot when it comes to the Internet Computer. This is a self-assigned term for those who have created an 8-year neuron on the NNS and set it not to dissolve.

GameFi is one of the most promising web3 categories for the Internet Computer to shine. We've already seen amazing work from Cubetopia, FaeFolk, and many others. Development of the IC GameFi sphere isn't slowing down, and we are proud to announce a partnership with Inside Dark Studio, a 6-person team working fast to bring quality gaming experiences to the blockchain.

InfinitySwap Forms a Strategic Partnership with Inside Dark Studio: Do you See the Light?
Inside Dark Studio reached out for a call recently to explore partnership synergies, and we were impressed with the vision and work that has already been put into this ambitious project

What happened with FTX, and how was Binance involved in their dramatic tumble? Read our article breaking down the early timeline of a truly historic (and painful) moment in our industry. More information is coming to light daily but this is a thorough introduction on what happened after one tweet sent a devastating ripple out into the entire crypto world.

The Tweet Heard Around The World: What Happened With FTX
As of the time of writing, $FTT has plunged over 80% in value. That sudden plummet, along with other factors, has placed FTX (one of the largest Centralized Exchanges in the world) in a precarious financial situation that has left them vulnerable to a buyout by Binance.

Boxydude is one of the most recognizable NFT projects in the IC. With Boxygirls already airdropped, Boxy tokens distributed, and more exciting updates like breeding and a metaverse game in the works, the team continues to produce nonstop. Read this exclusive interview with Slayffin, the project's CEO to find out more about our partners and friends at Boxy.

Interview with Boxydude NFT- These are not Cardboard Cut Outs!
We interviewed Slayffin, the CEO at Boxy about his ambitious plans for Boxy moving forward, including the imminent land sale.

We saw signs of market recovery just before the FTX meltdown happened, with positive price action in $ICP in particular. Read our explanation on several factors, such as recent trends in the American mortgage rates, to see why the macro view is not as bad as it may seem in light of recent events.

ICP Price Spike: Why did Crypto Prices Rise Recently Before the FTX drama?
People have begun talking about a possible spike in prices for cryptocurrency in general and ICP in particular. Is there anything to this talk?

There are many terms unique to the Internet Computer, which can be confusing to both blockchain newbies and veterans from other chains. Canisters are often explained as advanced smart contracts, but what exactly does that mean? Read our article below to get a firm grasp on this novel web3 innovation.

Internet Computer Canisters: Everything You Need to Know
It’s common knowledge that canisters are an enhancement of smart contracts. What canisters or smart contracts are and how they work, however, is far from common knowledge.

A Busy Week of AMAs!

Boxy Dude with Slayffin was held on Tuesday:

On Saturday we had two AMA's-

For the first, we were a guest on Chain Afrik:

You can win one of the 3 X 10 ICP prizes by following the action points above.

Later in the day for me at 10 pm in Korea, our very own CEO, Max Chamberlin, and Toniq Labs CEO Bob Bodily examined the FTX fallout in an enthralling AMA:

Be sure to tune in by visiting my Twitter profile @ICPfan8 and selecting the conversation you want to hear.

Around the Web

🤒 Contagion Pt. 2: Just as the markets seemed to show signs of hope, FTX underwent a total meltdown. From a Twitter feud between Binance CEO CZ and FTX's Sam Bankman-Fried, to Alameda's insolvency, FTX's bankrun, and now joint hack of FTX and FTX.us, it has been quite a week. With so many CeFi (Centralized Finance) crypto entities exposed to FTX/Alameda, things don't look the best. Contagion, people fear, will continue to spread like it did with Luna.

🦑 Release the Kraken: Kraken founder and former CEO, Jesse Powell, had some choice words to say about Sam Bankman-Fried in the wake of the FTX/Alameda collapse. Powell, an early crypto pioneer and respected OG, tore into the likes of Sam and other non-crypto-natives who came to extract value without caring about ethos. Powell's tweet thread echoed the sentiment of many furious at the damage done to the entire industry because of greed.

📊 The Scourge: Founder Vitalik Buterin published an updated roadmap for planned Ethereum upgrades on Friday, a diagram that included a new milestone marker: the Scourge--its goal is to "ensure reliable and fair credibly neutral transaction inclusion [and] solve MEV (Maximum Extractable Value) issues."

💰 Art Royalty: Good news for NFT artists and creators among all of the crypto turbulence! After community pushback against a new royalty proposal, OpenSea (the largest NFT marketplace) announced on Wednesday they would continue to enforce creator fees on all existing collections.


Weekly Chart

source: Internet Dashboard

Meme of the Week

(credit to Anon)

A Matter of Opinion- Scam Banking-Fraud- We need truly decentralized finance.

We had an AMA on my Twitter account last night that is still fresh in my mind this Sunday morning. In it, venerable community member Bob Bodily repeated on several occasions how the situation with SBF and FTX shows how there is all the more need for truly decentralized finance. I'd urge you to listen to a replay of the discussion if you weren't live for a fascinating analysis of the ramifications of this latest deep freeze in crypto winter.

With all said and done, I agree with what our CEO, Max said in the AMA, that ultimately this will be a net positive for ICP. Removing this nefarious influence that lobbied and used every possible trick to gain advantage will give rise to a more robust and transparent industry that rewards innovation and tech rather than speculative trading and inflated prices based on grubby backroom deals.

As discussed last week, the image of the Internet Computer is improving as more people become aware of how corrupt bad actors sabotaged competitor efforts.

Like a phoenix from the ashes, we will emerge stronger than ever as the forest fire subsides to give rise to fresh green roots, a perfect analogy made by Jonathon Green  @ALLiDoizCode in yesterday's AMA.

Connect with InfinitySwap

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Twitter | Website | Telegram | Discord | Github

*Disclaimer: While every effort is made on this website to provide accurate information, any opinions expressed or information disseminated do not necessarily reflect the views of InfinitySwap itself.