⚔️ xDai Weekly Newsletter November 12, 2021
An eventful week
It’s been an eventful week in xDai land🎢. News of a proposed merger presented on the Gnosis forum Monday has received a lot of attention and at times heated discussion amongst the community. The initial announcement resulted in a lot of visceral reactions to the unexpected proposal, which makes sense.
Since then, cooler heads have prevailed and some substantive discussions are now happening around the possible merits and downsides of this proposal. We can see the potential for growth and adoption that can come from combining forces & resources in an increasingly competitive environment, and there are also concerns from projects, users, and STAKE hodlers who call xDai home.
xDai will host an AMA next week to start answering some of these questions as the discussion continues. Stay tuned to twitter and telegram for time/platform details for the AMA.
Links to the current proposals and discussions:
In other News….
While the drama unfolded related to the proposal, exciting updates continued behind the scenes. Specifically EIP1159 implementation, as part of the London Hard Fork, which will result in xDai being burnt when chain usage is heavy.
We’ve been working on this implementation for some time to prepare the chain and compatibility with both clients, OpenEthereum and Nethermind, and are excited to see London live on xDai! To learn more, see https://www.xdaichain.com/about-xdai/roadmap/eip-1559
🔥 The current estimated time for activation is Friday, November 12 at 21:52 UTC
IF YOU ARE RUNNING A NODE AND HAVEN’T YET UPDATED … UPDATE ASAP!!!
AnyBlock Analytics is a good place to start exploring the gas metrics as the HF is activated. Check it out here
POA MERGE
Merge is the word of the week, and another exciting merge is happening with the POA Network and xDai. POA is no longer available to trade in Binance, and this has resulted in many holders with tokens that are difficult to trade. Holders can now swap their POA for STAKE on the xDai chain!
It’s a 2 step process, and one that requires a bit of attention. So if you are a POA holder and want to swap to STAKE on xDai, grab a ☕️ and get started here. The swap will be open for the next 6 months, so there is no rush to swap your tokens.
Incentives / Rewards / Project Updates
A lot of projects on xDai are now offering enhanced rewards for application users. Here are a few announced this week.
Elk Finance Rewards (start Nov 17): STAKE + ELK rewards on xDAI-ELK & STAKE-ELK farms.
Symmetric + Minerva Wallet: Add MIVA liquidity and earn SYMM
Swapr increased incentives: xDai allocation increased to 20%
Agave Growth: Agave continues to see TVL growth
Genuino latest packs sold out and a new marketplace announcement.
🙏 We’d like to thank our community members this week who engaged in appropriate & respectful discussions. This is a big proposal with far reaching ramifications into the future of scaling and what the blockchain ecosystem might look like post Eth2.0 merge. It’s important to discuss and dissect, and we appreciate your thoughtful insights & suggestions. The landscape is changing fast. It’s vital to continue to look ahead to prepare for the coming changes as Ethereum moves to Proof of Stake and mass scalability.
See you on-chain,
The xDai Team
I think every token and organized community like Gnosis deserves to merge their value into xDai Chain if they so choose.