RESEARCH
BEQUANT Crypto&Coffee
Elon Musk continued to make headlines, this time after tweeting that he “bought some Dogecoin for lil X, so he can be a toddler hodler”. Something to note for DOGE is that sometime ago, Dogecoin has decided to support merged mining with Litecoin and other Scrypt based coins. This enables merged mining which will allow users to mine Doge and Litecoin (or other Scrypt-based coins) at the same time. It won't change the total output of coins, but will instead allow miners to receive two revenue streams at the same time, increasing their reward. Now, the hashrate for DOGE and LTC may be in lockstep but the mining difficulty isn't and DOGE is significantly less labour intensive, at least for the time being. At the same time, the profitability of mining DOGE has now matched LTC. Thus, despite the recent upside by LTC, the aforementioned development could herald the new era of flippening. JP Morgan strategists opined that the main issue with the idea that mainstream corporate treasurers will follow the example of Tesla is the volatility of bitcoin. Specifically, “corporate treasury portfolios are typically stuffed with bank deposits, money market funds, and short-dated bonds, meaning that annualized volatility – or the range of swings during the course of a year – hovers around 1%,” JPMorgan wrote, adding that a 1% bitcoin exposure would cause a significant increase in a portfolio's volatility to as much as 8%. Nonetheless, the bank's strategists, however, acknowledged the positive impact of Tesla investment on the bitcoin market. CoinDesk writes that Mastercard is planning to give merchants the option to receive payments in cryptocurrency later this year. According to a source familiar with the matter, the functionality will see Mastercard customers' digital currency payments settled in crypto at participating merchants, a first for the financial giant. The company has not yet disclosed which digital currencies it intends to support, or where. As per the AIP#10, xSushi proposal finally went live on Aave. There, the rationale for adding xSushi to the AAVE V2 market was explained simply that xSushi is a popular yield bearing asset but is currently incapable of being utilized for borrowing or lending. SUSHI can currently be borrowed and lent on cream.finance. However, xSushi cannot be borrowed or lent on any platform currently. By allowing xSushi to be borrowed and lent on AAVE v2, this will allow xSushi holders to access the liquidity of their platform. Furthermore, BentoBox contract, the token vault with flash loans and strategies went live on Ethereum, Ropsten, Kovan, Rinkeby, Goerli, Moonbeam testnet (Polkadot sidechain) and Arbitrum testnet (L2). So, all in all, a very positive day for Sushiswap as it continues to chase Uniswap which still commands a higher total value locked (TVL). Finally, Deutsche Telekom AG, Europe's largest telecommunications company by revenue, is now one of the main data providers to Chainlink. Furthermore, Deutsche Telekom subsidiary T-Systems Multimedia Solutions (MMS), says it has begun staking on the Flow Network, the ultra-scalable proof-of-stake (PoS) blockchain from CryptoKitties creator Dapper Labs, and has plans to begin staking on several other chains in the near future.
