👛Southeast Asian Super App Grab Launches Web3 Wallet For Singapore

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Grab, a "super app" serving the 180M users in the Southeast Asian region, officially rolled out a centralized web3 wallet for Singaporean users. The wallet exclusively supports the Polygon network and can facilitate SGD stablecoin payments.

Nouns, the prominent NFT collection, has split in two following a fork of the project, with the new faction taking a pro-rata share of its treasury. More than 60% of defectors have redeemed their NFTs for treasury assets since.

PostTech, a new social trading platform seeking to ride the coattails of Friend Tech, is driving millions in daily volume from more than 30,000 users less than a week after launching.

And Ethereum's developers are debating a new standard for storing code audit information on-chain.

✍️ In today’s newsletter:

Grab launches centralized wallet in Singapore
Nouns NFT community splits in two
PostTech emerges as Friend Tech rival
Ethereum devs discuss standard for on-chain audits

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Explainer: What is Chronicle Protocol?
Video: Does Chronicle Solve DeFi's Oracle Problem?

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MetaMask Snaps are new features and functionality, created by third-party developers, that MetaMask users worldwide can install directly to customize their wallet. With MetaMask Snaps, every wallet becomes a unique reflection of its owner's aspirations and preferences.

Business

Grab Launches Web3 Wallet For Singaporean Users

TLDR Southeast Asia's super app, Grab, has launched a centralized web3 wallet for Singaporean users. The wallet supports select NFTs and SGD stablecoin payments via the Polygon network.

SO WHAT With Grab boasting 180M users, its web3 wallet could help onboard new users to crypto, especially if the services rolls out in other top Southeast Asian economies.

NFTs

Nouns NFT Holders Opt To ‘Rage Quit’ Through New Fork

TLDR The Nouns NFT community fractured in two after a third of holders backed a proposal to fork the project, taking around half of Nouns' treasury reserves with the. Many defectors chose to redeem their tokens for treasury assets.

SO WHAT Nouns is the latest example of a project's community successfully using governance to seize to treasury assets. The practice was recently popularized by the Risk Value Raiders, a group of investors targeting DAOs whose treasury assets outweighed the market cap of its governance token.

SPONSORED POST

Chronicle is the 2nd largest Oracle provider by Total Value Secured, and although the protocol has been securing MakerDAO exclusively since 2017, it has only just opened up access to all of DeFi and beyond.

Chronicle Protocol launched in September, initially supporting Ethereum & Polygon zkEVM, and delivers a number of unique improvements on existing Oracles.

Scalable & Cost Efficient

The key innovation is a next-generation Oracle cryptographic primitive called Scribe. Scribe reduces Oracle gas fees by over 60% on L1 and 68% on L2 via a clever utilization of Schnorr signatures. This is a development entirely unique to Chronicle, making it the most gas-efficient on the market right now.

Oracles are currently one of the largest cost centers for blockchains and DeFi protocols. This significant reduction in operation costs paves the way for the first scalable Oracles that deliver real-time and precise data without security trade-offs.

Verifiable Data

At the core of Chronicle is verifiability. This rests on the premise that all data should be verifiable, and verification eliminates the need for trust. As a result, the protocol showcases an on-chain dashboard called The Chronicle that allows anyone to intuitively and provably track the origin of every element of data, end-to-end: creating a high integrity censorship-resistant layer for data transmission.

This is key to increasing the overall decentralization and security of the protocol and raises the bar for on-chain data transparency. No more data ‘black boxes’ in DeFi.

Chronicle is powering billions with cost-efficient & verifiable data. Discover more.

DeFi

Trading Volume On Social App PostTech Crosses $5M

TLDR PostTech is emerging as the top competitor to Friend Tech, the trailblazing social trading platform. PostTech already boasts a userbase of more than 39,000 and hosted more than $5M in daily trading volume yesterday.

SO WHAT PostTech seeks to attract users away from Friend Tech by redistributing fees back to creators and traders, rather than accumulating fees for its treasury.

Ethereum Developers Debate New Standard For On-chain Audit Reports

TLDR Ethereum devs are fine-tuning a proposed standard for storing code audit information on-chain. Developers are divided on what information should be included in the standard, and whether a centralized registry could aid the intiative.

SO WHAT The ERC-7512 standard seeks to make it easier for web3 users to access the information gleaned from code audits, helping them make informed decisions about which DeFi protocols are safe to deploy capital to. As it stands, audits are often buried among the technical documentation on a project's website, making it hard for lay users to find.

Op-Ed

[Op-Ed] Making the Wallet Personal

TLDR Christian Montoya, the product lead for MetaMask Snaps, runs us through some of the wallet customizability enabled by Snaps, which are like plug-ins for MetaMask wallets.

SO WHAT There are 36 Snaps available for any users to download and use, enabling innovative features including support for multiple blockchain networks, advanced security and identity functionality, and account abstraction.

READ MORE: Making the Wallet Personal

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🌍 ELSEWHERE

Binance and CEO Changpeng Zhao ask court to dismiss SEC suit (Cointelegraph)
AI’s New Backer: Stablecoin Tether Makes A $420 Million Bet On Cloud GPUs (Forbes)
UK regulator warns crypto firms over 'lack of engagement' with new rules (The Block)