⚔️ 🦉 Gnosis Chain Weekly · 13 October 2023
This week the MakerDAO announced that SparkLend, their first functioning DeFi product developed by a SubDAO, has gone multi-chain with it's launch on Gnosis Chain.
The first functioning DeFi product developed by a SubDAO has gone multi-chain.
— Maker (@MakerDAO) October 9, 2023
SparkLend has been successfully deployed and is now available to all users on @gnosischain.
→ https://t.co/6z0TuiZF1b pic.twitter.com/KT6MUhIiYF
SubDAOs are specialized divisions within MakerDAO. They create their own governance processes, specializations, and products. This allows MakerDAO to streamline workload and facilitate rapid parallelized growth.
The Spark SubDAO developed the Spark Protocol - a DAI-focused fork of Aave v3. SparkLend allows users to earn interest on DAI deposits via the DAI Savings Rate (DSR) and facilitates decentralized borrowing using DAI as collateral. Gnosis Chain is Maker's first cross-chain instance of SparkLend. Block Analitica is reporting that a total value $14.85M has been supplied on Spark with $616.14K borrow since the launch.
Last week we reported that Agave integrated Savings xDAI on Gnosis Chain, allowing xDAI holders to easily access the high-yield DAI Savings Rate (DSR) from MakerDAO on Gnosis Chain. In addition to Agave, a native money market platform on Gnosis Chain, sDAI is now available on SpendLend!
How sDAI works can be tricky to follow so here's a quick recap. The DAI Savings Rate (DSR) is an addition to the Maker Protocol that allows any DAI holder to earn savings in DAI. It is a premium reward by MakerDAO for users depositing DAI, bolstering user benefits and rewards in the ecosystem. sDAI tokens represent DAI stablecoins deposited in MakerDAO’s DSR module. With the launch of sDAI on Gnosis Chain and SparkLend, users can now deposit xDAI to receive sDAI on Gnosis Chain.
For a more comprehensive dive into how the DSR works, check out Maker's blog post on the topic. Between Agave's integration of sDAI and the launch of SparkLend, thanks to the hard work of karpatkey, the DeFi ecosystem on Gnosis is growing quickly.
Next big news for Gnosis! After the recent introduction of sDAI, @MakerDAO has deployed Spark, making @gnosischain the first chain after Ethereum that allows users to borrow DAI at the flat DSR rate. https://t.co/kqf6pmyV8c
— Martin Köppelmann 🦉💳 (@koeppelmann) October 9, 2023
Let's jump into this weeks update!
🦉 Updates
🥳 Gnosis Chain Hits 150M Transactions
The Gnosis DeFi ecosystem is growing. A number of key dApps were recently launched. This week Gnosis Chain hit a milestone of 150M transactions!
We have become used to it, still, I think the fact that you can send >$1,000,000 within 5 sec to anyone in world at a cost of $0.000655919 on a system that just crossed 150,000,000 tx and did not had a single minute of downtime in the last 5 years is pretty amazing. @gnosischain
— Martin Köppelmann 🦉💳 (@koeppelmann) October 13, 2023
🌵Agave Lists sDAI
As mentioned, Agave integrated Savings xDAI (sDAI) on Gnosis Chain late last week, allowing xDAI holders to easily access the DAI Savings Rate (DSR) from MakerDAO on Gnosis Chain. With the launch of a number of key dApps on Gnosis Chain, the network hit a milestone of 150M transactions this week.
📢📢📢 Major Announcement 📢📢📢
— Agave (@Agave_lending) October 8, 2023
Agave is very excited to announce a new way to earn yield on @gnosischain : SavingxDai ( $sDAI )
👉 https://t.co/375VbF9liq 👈
Eager to learn more? Read the thread below 🧵 pic.twitter.com/30kml6ATHY
🔐 Vaults.fyi Lists sDAI
Vaults.fyi helps users find and track yields across Ethereum and L2 ecosystems. The platform now supports Agave Finance, a lending protocol on Gnosis Chain!
1/3 Now supporting @gnosischain (GC) Savings xDAI on @Agave_lending
— Vaults.fyi (@vaultsfyi) October 10, 2023
* DAI in GC bridge is deposited into DSR on mainnet via @sparkdotfi
* DSR yield is passed on to Gnosis users who stake xDAI
* GC sDAI yield > mainnet so long as <100% of xDAI is stakedhttps://t.co/PTQaptKgQW pic.twitter.com/Wy9jONPSLv
⚖️ Balancer's BIP-447 Proposal
Balancer proposed to replace their pool gauges using DAI for sDAI this week. The full proposal is accessible here.
🐦 Rotki Supports Gnosis Chain
Rotki is an open-source portfolio tracker, accounting and analytics tool that protects your privacy. Their next release includes support for Gnosis Chain!
🐦So whats coming next release?
— Lefteris Karapetsas | Hiring for @rotkiapp (@LefterisJP) October 11, 2023
rotki 1.31.0 will include:
- @gnosischain support
- @BuildOnBase support
- Full @VelodromeFi support for @optimismFND
- Customizable accounting rules
- Fully editable history events view, ability to add
- @WOOnetwork integration
➕ a lot more ➕
🕵️ RPCh x Gnosis Chain
RPCh now has a dedicated RPC endpoint on Gnosis Chain, hosted by Gateway. RPCh is a private RPC provider.
RPCh now has a dedicated RPC endpoint on @gnosischain, which is hosted in partnership with @gateway_eth pic.twitter.com/2GCz3HGvX3
— RPCh (@RPC_h_) October 8, 2023
🌉 xDAI Bridge Volume Surges
This week the xDAI bridge saw a growth of over 4,000%, most likely due to the popularity of sDAI.
Top 10 bridges' volume changes over the past month:
— Concero (@concero_io) October 10, 2023
xDai Bridge of @gnosischain showed mind-blowing growth (4177,4%) and placed 1st place!@zksync Era Bridge ranked first in total volume with $1.30B over the last month (+7.60%)@optimismFND Gateway has lost 74.7% of its volume… pic.twitter.com/zz0bB8uLPe
🧑🏾💻 Gnosis Chain Core Devs Call
The weekly Core Devs Call took place this week ~ the recording is linked below!
Hello wise owls! 🦉
— Gnosis Chain 🦉 (@gnosischain) October 11, 2023
Check out the latest Gnosis Core Devs recording along with the notes.
Record: https://t.co/vnjoQeqUiE
Notes:https://t.co/01s5aubJ9Z
🤖 Gnosis AI
OLAS on Gnosis Chain
The Autonolas team went live with the OLAS token on Gnosis Chain this week. Check out their blog post below to learn more. Autonolas seeks to maximize machine autonomy to benefit human autonomy. They believe that autonomous services – services that require little to no input from humans by design – are best used in the service of humans. When operated using transparent software by groups, with open participation, the extreme reliability of autonomous services benefits humans the most.
OLAS is live on @gnosischain!https://t.co/7F27nADZSG
— Autonolas (@autonolas) October 11, 2023
Get OLAS @Balancer’s OLAS-wxDAI LP today:https://t.co/iiNMTXV97B
More details in the blogpost: https://t.co/9kpRugktrA
🧑🏾💻🥷⛓️Events & Hackathons
Safe's DAATA AI Hackathon
Safe is hosting a hackathon to explore the intersection of Data, AI, and Account Abstraction in October. They're bringing together industry experts and mentors from Web3 and AI to encourage the development of entirely new apps and improvements on existing projects across the ecosystem. Learn more here!
📍Where: Online
📅 When: October 9th - 16th
📝 Register: https://wn2n6ocviur.typeform.com/AAAIHackerForm
⚡ Due Date: Submissions will be due by midnight CEST on Oct 16th
🗣️ Communication Channels: Telegram
👏 We're thrilled to share our DAATA and AI Hackathon partner: @gnosischain
— Safe (prev. Gnosis Safe) (@safe) October 8, 2023
🏆 Win bounty prizes worth: $5,000
More info: https://t.co/PhJeEF6WgZ
👉 Register here: https://t.co/wsJFDJwKYz pic.twitter.com/lMzq9GlSvf
Get insights for the @Safe AI & DAAta hackathon straight from the Valory team!
— Valory is hiring (@valoryag) October 10, 2023
Adamantios unpacks Olas, prediction markets, and the pathway to winning Olas Bounties in this 20-minute workshop.
Watch it now: https://t.co/9fjk0ZR2NL pic.twitter.com/OezzG1NZBz
📆 Ecosystem Wednesday with karpatkey
Join us on Wednesday October 25th, 2023 at 3PM UTC on the Gnosis Chain Discord for a demo of Spark with karpatkey. Spark, a DAI-focussed fork of Aave v3, allows users to earn interest on DAI deposits via the DAI Savings Rate and also facilitates decentralized borrowing using DAI as collateral.
Join us for our Ecosystem Wednesday call with @karpatkey!
— Gnosis Chain 🦉 (@gnosischain) October 13, 2023
We will be having a conversation with @davekpk from the @karpatkey team about the exciting @sparkdotfi launch on the Gnosis Chain!
🗓 25 October, 2023
🕒 3PM UTC / 5PM CET
🔗 https://t.co/tYfNEJBPau pic.twitter.com/xmSCOUehIj
🫱🏼🫲🏻 Validator Meetup #10
The 10th Validator Meetup will take place on the Gnosis Chain Discord on Thursday October 26th, 2023 at 3PM UTC. If you're a node runner or want to learn more about how to become one, Gnosis core devs and community members will be on hand to answer your questions. See you there!
Hello wise validatooors! 🦉
— Gnosis Chain 🦉 (@gnosischain) October 12, 2023
Join us for the validator meetup! We'll cover the Dencun upgrade, validator community bounties and address any questions you may have.
Don't miss the special POAP for the 10th episode!
📆 26 Oct, 2023
🕒 3PM UTC / 5PM CET
🔗 https://t.co/caeSXywWiw pic.twitter.com/P4Q4QY6bys
☎️ GnosisDAO Community Call with Project Shutter
The GnosisDAO Community Call took place this week. Luis Bezzenberger from the Shutter Network joined as a special guest. We talked about the Shutterized Beacon Chain being developed for Gnosis Chain. The Shutter Network is an open-source project that aims to prevent front running by using a threshold cryptography-based distributed key generation (DKG) protocol. Check out the recording of the call for more info!
Join us for the next GnosisDAO Community Call ~
— GnosisDAO (@GnosisDAO) October 2, 2023
w/ ecosystem updates and we'll be joined by team members from @project_shutter to discuss the Shutterized Beacon Chain!
📆 October 12, 2023
🕔 3PM UTC / 5PM CET
👇 Set Reminderhttps://t.co/dlclyrFLFH
✍️ Gnosis is Hiring!
Gnosis is seeking a dedicated and value-aligned VP Technology to join our dynamic team.
As VP Technology, you will play a pivotal role in advancing our mission to create a blockchain platform that empowers developers, businesses, and users alike.
You will be responsible for providing technical leadership, fostering innovation, and ensuring the overall success of our technology initiatives.
Gnosis is also looking for a highly skilled and experienced Smart Contract Auditor.
As an auditor, you will play a critical role in ensuring the security, reliability, and integrity of internal projects as well as providing auditing services to external portfolio companies.
🙏 Thank you
Come say hello in the Gnosis Chain Discord. Join us for the next GnosisDAO Community Call on Thursday November 9th , 2023 at 3PM UTC / 5PM CET on the GnosisDAO Twitter Spaces.
See you onchain!