|
|
|
Partner(s)
|
|
|
Blockchain proponents and enthusiasts globally are very much conversant with play-to-earn, free-to-earn and recently move-to-earn. But would anyone have thought of shit-to-earn?
|
Yes, a professor in South Korea is well ahead of everyone. He has developed a cryptocurrency called $Ggool to entice people to poop where it will be put to good use. Every person who donates a poop in the special throne earns 10 Ggool.
|
Those are the exact innovations the blockchain technology is made for. The next step is for us all to start booking flights to South Korea when we are pressed. You are welcome.
|
|
Here is our weekly newsletter roundup. Now get a bucket of popcorn and follow through. First, a brief summary….
|
|
|
|
Summary of the news
|
- E-naira aims to reach 8 million users
- Tornado Cash receives 75% of laundered funds on Ethereum
- South Korean professor develops toilet that rewards user with crypto
- Terra wants to airdrop more tokens
|
|
|
E-naira aims to reach 8 million users
|
|
The largest crypto market in Africa, Nigeria has seen a decent adoption of its central bank digital currency (CBDC) e-Naira. Since its launch in October 2021, e-Naira has onboarded 840,000 users but the Central Bank of Nigeria(CBN) Governor has set new heights for the digital currency.
|
According to Governor Godwin Emefiele comments which came on Thursday during the finals of the hackathon sponsored by the Central Bank to build products and services around e-naira, Nigeria is set to increase adoption by 10x within the next 12 months.
|
He further added that the expansion of the e-Naira platform will further deepen its integration with the existing payment infrastructure of Nigeria. In the second phase of expansion, the Central Bank of Nigeria will collaborate with private sector operators. Speaking on the matter, governor Emefiele said:
|
|
|
“Notwithstanding this appreciable progress, the second phase of the project has begun and it is intended to drive financial inclusion by onboarding unbanked and underserved users leveraging offline channels.
We don’t have a choice but to live with the fact that we are now in a digital economy. The use of cash will dissipate to zero and the use of digital currency will increase to become part of our lives.”
|
|
|
|
|
Tornado Cash receives 75% of laundered funds on Ethereum
|
|
According to the 2022 Mid-Year Blockchain Security and AML Analysis Report by blockchain security firm SlowMist, crypto mixing service Tornado Cash has so far received 74.7% of the total funds laundered on the Ethereum network, or up to 300,160 ETH.
|
As for the rest of the funds, about 24% of them (95,570 ETH) are still in hackers’ wallets while 1.5% (6,250 ETH) have been sent to a trading platform.
|
The research also discovered that Tornado Cash accounts for the largest amount of the initial funding for money laundering incidents on the Ethereum and Bitcoin (BTC) networks.
|
Tornado Cash seems to have been used to launder over $7 billion worth of digital assets since its creation in 2019, including the assets stolen by the Lazarus Group, forcing the United States Treasury Department to place sanctions on the mixing service in early August.
|
|
Recall that the crypto mixer was earlier used to move $80 million in digital assets stolen from the Ethereum-based stablecoin protocol Beanstalk Farms in a mid-April flash loan attack.
|
|
|
|
South Korean professor develops toilet that rewards users with crypto
|
|
Professor of urban and environmental engineering at Ulsan National Institute of Science and Technology in South Korea, Cho Jae-weon devised a lavatory that converts human waste into biogas and fertilizer.
|
The toilets eliminate the need for buckets full of water with a vacuum function, which whisks the waste away into an underground tank. The feces are broken down and converted into methane by microorganisms that have been purposefully introduced into the tank.
|
After that, the methane is converted into an energy source for the structure. To this point, it has been used to power a gas stove, heat water, and a solid oxide fuel cell.
|
To back it up, Professor Cho designed a cryptocurrency that he termed $Ggool. Everyone who defecates in the unique toilet gets 10 $Ggool as a reward.
|
The $Ggool can be used to purchase various items already. Students at the institution can buy coffee, noodles and books with the token on campus.
|
|
|
|
|
|
|
Terra wants to airdrop more tokens
|
|
TerraForm Labs, the company behind the popular blockchain project Terra, has revealed that it has created a new proposal to airdrop LUNA from the community pool to selected users.
|
The proposal dubbed Terra Phoenix Airdrop was created to airdrop 18,709,455 (18.7 million) LUNA tokens worth $36.86 million to users who did not receive the correct allocation of their tokens during the initial airdrop exercise.
|
Notably, not all users affected by the collapse of Terra ecosystem tokens received the correct allocation during the initial airdrop. The issue stems from technical constraints as well as indexing issues, TFL noted.
|
However, the Terra team is willing to fix the issue via the new proposal that went live on Agora this week.
|
“A new proposal to airdrop LUNA from the Community Pool to users who either did not receive the correct allocation of LUNA at Genesis due to technical constraints or issues associated with indexing is live on Agora,”
|
Based on the details of the proposal, the new airdrop calculation and vesting schedule will follow that of the LUNA airdrop at Genesis. However, there will be a slight adjustment to the Terra Phoenix airdrop.
|
|
|
|
“To avoid market liquidity instability upon distribution, all LUNA airdropped to holders of less than 10k Pre-attack LUNC, any Pre-attack aUST, or any Post-attack LUNC and/or USTC will vest over two years with a 6-month cliff,”
|
|
|
|
|
Other stories we are following
|
|
|
|
|
|
|
|
|
    
|
|
|
|
|
|
