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DAI Rewards, Bitcoin Futures Record, Blockchain Park + More News

Sead Fadilpašić
Last updated: | 4 min read

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.

Source: Adobe/golubovy

Exchanges news

  • Coinbase has launched a rewards program for customers holding Maker‘s DAI stablecoin. To be eligible, users with a verified identity on the exchange, who reside in one of the six countries that can receive DAI rewards, must hold at least USD 1 of the stablecoin in their account. Per the website, Dai Rewards are currently available in the United States (except Hawaii), the United Kingdom, Spain, Netherlands, France, and Australia.
  • One of the largest derivatives exchanges in the world, CME Group, said that the institutional interest in bitcoin (BTC) futures is growing. Per their tweet on July 29, a new open interest record of 13,104 contracts has been set.

  • OKB, the utility token adopted by crypto exchange OKEx, has added four new partnerships: trading bot platforms HaasOnline and Cryptohopper, where OKB holders can earn a one-time passive income with 15% interest and discounted service fees; smart contract platform MyWish, enabling holders to use OKB as a payment tool on the platform; and the Saturn Network exchange, which listed OKB, enabling holders to trade and swap OKB there. OKB can now be used at more than 70 designated merchants and service providers, the exchange said.
  • Dharma users can now trade any token in the protocol for automated token exchange Uniswap V2, said in an emailed press release the Ethereum-based crypto lender. To celebrate the event, Dharma – which calls itself “‘the Robinhood of crypto / DeFi” – is offering a promotion for one full month until August 30, during which the lender will pay for user gas and will charge no fees for swapping. All tokens (more than 2,000 assets) supported by Uniswap V2 are supported in Dharma now as well.

Blockchain news

  • Guangxi, the autonomous region of China that borders Vietnam, has built a “blockchain innovation” park, reported the Guanxi Daily (via Shanghai Securities News). The park comprises 100,000 sqm of industrial space and cost around USD 14.3m to construct. It will be used in part as a blockchain accelerator for promising tech businesses and startups in the region, said authorities.
  • Japanese power provider Minna-Denryoku said it will begin selling its blockchain technology as a service. Per Coin Post, Minna-Denryoku said it will make its blockchain solutions available to food manufacturers who want to improve traceability in their supply chains. The company also wants to develop a blockchain-powered solution to help certify the origin of construction-grade timber.
  • Chinese national energy provider the State Grid Corporation of China (SGCC) has issued a slew of blockchain patents this year, reported Shupeidian. The SGCC has issued more patents than the likes of Nokia and Sony, the report’s authors added. The grid has recently launched its own blockchain mainnet, with local power providers now starting to operate nodes on the network.
  • Dubai Economy and Emirates NBD, a banking group in the MENAT region, has announced that the UAE KYC Blockchain Platform is now live. Powered by Norbloc blockchain, this initiative was designed to facilitate digital customer onboarding, instant bank account functionality, and sharing of verified KYC (Know-Your-Customer) data between licensing authorities and financial institutions, said the press release. The platform, “set to become a nationwide ecosystem for exchange of verified KYC data,” is supported by Smart Dubai and the Central Bank of UAE, while Commercial Bank of Dubai, ADCB, HSBC, and RAKBANK are also set to go live soon.
  • Elrond (ERD), a blockchain designed for value transfer, has announced that it is now live on mainnet. Per the emailed press release, the first application to launch on the Elrond blockchain is Maiar, a financial application allowing users to spend, stake, or lend ERD tokens. Users can purchase within the app directly with 150 different fiat currencies. Elrond said it will also completely transform its economic model with the aim “to introduce deflation through scarcity” and “a view to creating a new digital gold standard.”

Business news

  • SBI Holdings, Ripple’s biggest Asian partner and the operator of the SBI Crypto mining firm and the SBI VC Trade crypto exchange, has reported that its net income increased by 39% in April-June. Per Nikkei, SBI VC Trade had a “strong” first quarter of the current financial year (FY2020), while the firm’s foreign exchange margin trading also increased.

Crime news

  • In Ukraine, two operators of an illegal fiat to crypto exchange could face up to six years in prison, reported Pravda Ukraine. The duo, residents of Khmelnytskyi, in the west of the country, allegedly operated an online exchange, allowing Ukrainians to exchange hryvnia for “crypto assets and electronic currencies.” Police say they confiscated PCs, mobile phones and bank cards from the two individuals.
  • Hackers are using dogecoin (DOGE) to expand a malware botnet. Security researchers at Intezer said they detected a new malware payload that is a fully undetected backdoor which they named Doki. Doki is “abusing the Dogecoin cryptocurrency blockchain in a unique way in order to dynamically generate its C2 domain address,” and it “has managed to stay under the radar for over six months despite samples being publicly available in VirusTotal,” said the researchers.