Connext Weekly #60 - Volume Boosts, LI.FI Integrates Connext V2, ETHForAll Winners Are Announced and More Product Updates
February 24 - March 3, 2023
Welcome to a new week of the cross-chain world of Connext!
Let's dive in and explore the latest developments in the Connext Network Ecosystem👇
Product Updates
1. Since its launch out of closed beta on February 2nd, Connext Network V2 has experienced almost a 9x increase in all core metrics.
This includes a rise in:
Total Value Locked (TVL) from $2 million to $17.9 million
Weekly volume from $500k to $5.5 million
Weekly transactions from 650 to 4986
2. As the new upgrade of Connext is taking over the liquidity well, Connext is discontinuing support for V1 of the Bridge (NXTP).
$DAI & $USDT and Fantom, Arbitrum Nova, and Avalanche chains will no longer be supported until they are reintroduced in the new version of the bridge at a later date.
Li.Fi Protocol Integrated Connext Network V2
Connext Network V2 has been integrated into Li.Fi Protocol’s Stack!
Now xCalls for dApps building with LI.FI SDK is possible and users can benefit from cheap & fast bridging on Jumper Exchange (Interface of LI.FI) via Connext.
LI.FI is a cross-chain bridge aggregation protocol that supports any-2-any swaps by aggregating bridges and connecting them to DEX aggregators.
EthForAll Winners Are Announced, Now Time For ScalingETH
Last month, DevFolio and EthIndia organized a hackathon called EthForAll, and the teams that were awarded the Connext bounties have been declared.
The most innovative or useful xApp built on Connext (🎁 $1000 each)
🏆xStream: A crosschain streaming solution.
🏆Bridge Together: Pool your funds and save on gas fees while bridging.
Upgrade an existing protocol to xChain (🎁 $1000)
🏆xStream: A crosschain streaming solution.
Nested xCalls (🎁 $250)
🏆MantleFund: Aiming to solve the problem of traditional crowdfunding applications by providing more accessibility, security, and transparency.
Extra Honorable Mentions (🎁 $250 each)
🏆Parichay: zk-IDs for everyone, on any chain
🏆Bob — The Yielder: Cross-chain yield aggregator
Read more about the winners.
Connext is sponsoring a new hackathon: ScalingETH!
Turn your cross-chain idea into a xApp at the two-week ETHGlobal hackathon with $5K in Connext prizes and $150K in total to grab!
🏆Best xApp - $3,000
🏆Take an Existing Protocol xChain - $1,000
🏆Send and Receive Data with xCall - $1,000
🗓️March 10-29
🚨Join Connext Alpha Developer Telegram.
Apply here.
Twitter Space: What’s Next For Tokens?
Connext Network has been organizing Twitter Spaces where we bring together some of the most distinguished leaders in the blockchain industry to discuss various topics. On March 2, a discussion on "What's Next For Tokens?" has been hosted.
Speakers were Mason from Tokensoft, Julien Bouteloup from Curve Finance and Arjun Bhuptani from Connext Network.
Listen the recording here.
Liquidity Providing Campaign Continues
Starting February 15th, we have launched a new campaign that rewards our users with a special Galxe NFT. As mentioned previously, the campaign is exclusively for each chain's top 30% LPers (by average daily balance).
Don't miss this incredible opportunity to earn a unique Galxe NFT. Join the campaign now and start LPing today!
Guide on how to provide liquidity | Galxe campaign page
From the Connext Community
WEEK #60 BY THE NUMBERS
TOTAL VALUE LOCKED (TVL): $19,406,541
TOTAL VOLUME: $20,409,974
TOTAL TXS: 22,303
The graphic above shows the statistics only after the Amarok upgrade.
Check out the full metrics dashboard: transfers, routers, and status on ConnextScan.
Connext is Hiring!
Connext Labs is looking for talented co-workers!
Developer Evangelist
Integrations Engineer
Both roles are full-time, 100% remote opportunities to work with the most talented crypto team worldwide! Apply here.
Bridge, Swap, LP and Buidl with Connext.
About Connext Network
Connext is a modular interoperability protocol that lets you build secure cross-chain apps (xApps).
Website | Twitter | Medium | Docs | Connext Scan | Wiki (Community Owned)
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Join The Official Connext Discord
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