Fellow Miners! We are back with another edition of The Echo Weekly.
The Echo Weekly is once again on a regular schedule. We will recap the most recent developments in Concave, while highlighting some of the amazing contributions from the community. Now without further ado, let us get started.
- Major Crypto News
- The Concave Flywheel
- P.E.E.P.O V1 Is Launching
- CNV Statistics
- Miner of the Week
Major Crypto News
A potential Ethereum PoW split chain may continue to function but would have substantial issues to resolve along the way, according to the research team of the major crypto exchange BitMex. Analysts have said,
"Although there are many technical challenges that ETHPoW faces, as long as the chain survives, it looks likely that there could be positive narratives around the coin and leading centralized exchanges are likely to list it."
Authorities worry about how they will be able to supervise digital asset markets. José Manuel Campa, chair of the European Banking Authority, said that organization also had concerns about planning for new powers, since it won’t know what coins it will supervise until closer to 2025 when the new crypto regulations in Europe will take effect.
Nubank, the largest Brazilian digital bank by market value, reached 1 million users on its crypto trading platform just one month after launching in June, the company said on Tuesday.
The company had hoped to reach the milestone within a year, after launching Nucripto in May and making it available to its 46.5 million users in June.
The Concave Flywheel
A key feature of the Concave protocol is the idea of a flywheel mechanism. You have probably seen us highlight this feature in various tweets and other mediums, so today we are going to briefly discuss the mechanic and how it benefits the healthy state of the protocol. A flywheel, from a mechanical perspective, is a heavy revolving wheel in a machine that is used to increase the machine's momentum and thereby provide greater stability or a reserve of available power. It stores energy and harnesses it as needed so it can be self-sustaining and compounding. As you can see in the above images there is a driving force (a system of strategies) that feeds into key features/USPs of which ultimately sustain the key element which in the case above would be the Concave Treasury and pCNV. All of these forces play into one another to maintain and sustain the flywheel effect and thus bring constant value back to the protocol. That is the flywheel in a nutshell and we look forward to showcasing it more and more as we continue to develop and adapt to market conditions to maximize its output and minimize risk.
P.E.E.P.O V1 Is Launching
V1 is almost here and we have a lot to look forward to. P.E.E.P.O, from its early inception, has always been envisioned to be a means of which to reward the community. Through regular activity and creative content submissions miners can earn spoons of which can be redeemed for loot boxes and Gacha boxes where real rewards can be uncovered. With V1 we will be introducing a variety of rewards, bigger rewards and unique incentives to adapt that flywheel mechanic within the community. As we continue to grow we will continue to adapt the rewards and bring more value back to the community. Keep an eye out for various giveaways and contests as we host our daily Spoon Drops at 1PM EST leading into the official launch by the end of this week. Look out for our #engage2earn tag on Twitter as approach the upcoming launch.
Task Passcode: Big Spoon drop this Friday
Miner of the Week
This week's Miner of the Week goes to Spaceman Jeff. Spaceman Jeff is a miner of which we can always depend on to be active, helpful and participatory in many if not all spoon drops and other corresponding events. Spaceman Jeff is always present within the Discord channels answering questions and providing solid advice and perspective on an array of topics not limited to crypto. We appreciate everything Spaceman Jeff brings to the community and look forward to many more interactions with them. Congratulations Spaceman Jeff!
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