CBDC latest news

In his latest post, Atakan Kavuklu’s has provided an overview of the progress of different CBDC projects around the world as of July 2023, as well as updates to the CBDC tracker project. We will focus on the most important points, but first of all, we will start with the latest CBDC statistics.

The number of central banks interested in exploring “some form or another” of a central bank digital currency (CBDC) has risen to 93%, according to a survey conducted by the Bank for International Settlements in 2022 and released just recently. 86 banks responded to this BIS survey. At the same time, a June study conducted by the Atlantic Council showed that about 130 countries are exploring the possibility of creating a central bank digital currency.

WealthRocket has released the results of a survey of 1,500 Canadian adults about their attitudes toward retail central bank digital currencies (CBDC). More than half of those surveyed said they were more or less willing to use a CBDC. Of these, 43% are ready to some extent, 11% are very ready and 5% are extremely ready. On the other hand, a quarter of the respondents said they did not want to use a CBDC in Canada at all. And 16% said they don’t understand enough about the issue to make a decision right now.

Ripple has expanded into Colombia, where it will offer the Ripple CBDC platform based on the XRP Ledger (XRPL). The launch of the Ripple CBDC platform follows in the wake of the recent Southern District of New York hearing, which concluded that the distributions of Ripple’s XRP token to individuals do not constitute illegal offers and sales of securities. However, institutional sales of XRP violated US securities laws, meaning the company is not quite out of the woods yet.

The Swiss National Bank will issue a digital swiss franc on the SIX exchange, likely as part of the project Helvetia. This project also tested transactions with tokenized digital assets, which means that the wholesale franc can become the basis for the development of intra-European digital asset markets, after the adoption of MiCA.

In Thailand, a retail digital baht was launched based on Giesecke + Devrient Filia platform solutions. The project will last for three months starting in June, and the same provider will presumably provide launch options for the digital currency in Swaziland.

Nigeria is trying to save the eNaira project by opening up the possibility of transfers from abroad. International Money Transfer Operators (IMTOs) will be required to apply for a one-time “no objection” certificate and open merchant wallets through a central bank in order to offer customers the ability to use eNaira for cross-border money transfers.

Iran and Russia are expected to issue a gold backed crypto, and Zimbabwe has already confirmed the issuance of gold backed crypto in the coming days to provide investors with a platform to save, invest and trade in gold. People will be able to purchase gold cryptocurrency for $10. On July 13, the Duma of the Russian Federation adopted a law on the russian digital ruble, and the confirmation of the law by the Federation Council at this stage is considered to be a formality.

Zoltan Pozsar joined the Odd Lots podcast for the first time since leaving Credit Suisse. “Instead of one reserve currency, we’ll get a lot,” and as cross-border payments revert to something more akin to the 17th-century London market, he expects “gold remonetization” to be inevitable. This echoes the sentiment behind the rise of gold backed crypto and the implicit pegging of the E-Yuan to gold via the Shanghai exchange. Zoltan considers it unlikely that the dollar will be replaced by bitcoin, but the revolution in international finance will at least involve cryptocurrencies: “CBDCs, stablecoins and tokenization all have a role to play. CBDCs,” he said, “will provide the infrastructure rails to accelerate the de-dollarization process.” According to Pozsar, they will replace the network of correspondent banks that support the dollar system with a network of “correspondent central banks.”

Finally, the IMF presented a vision for a competitive solution compared to BIS projects. The fund proposed a new class of platforms designed to ensure the compatibility, efficiency and security of cross-border payments and domestic financial markets. These kinds of platforms would have a single settlement book and all settlements would be carried out in a safe asset, possibly in the form of a central bank digital currency (CBDC). Governments would retain the right to restrict user transactions in foreign currencies and introduce financial integrity checks. The use of distributed ledger technology (DLT) was rejected because it has “significant limitations” in terms of validator costs, security, efficiency and privacy. The organization is also working on linking the world’s central banks via a CBDC mutual settlement system. At a conference with representatives of African central banks in Rabat, Morocco, IMF Managing Director Kristalina Georgieva argued, “CBDCs should not be disparate national offerings… For more efficient and fair transactions, we need systems that connect countries: we need interoperability.”

Tokenization news

Concerning tokenization, two significant reports have emerged that focused primarily on the issuance of bonds.

The Bank of England outlined how a traditional bond issue compares with a token issue in detail. Their report focuses on the tokenized stocks, bonds, loans, illiquid assets (such as real estate) and derivatives.

The report includes blockchain securities (securities issued natively on blockchains), as well as “hybrid” models. The potential benefits of tokenization include increased operational efficiency (such as instant settlements), access to new asset classes (through tokenization of traditionally illiquid assets), lower transaction costs, lower asset servicing costs, and the ability to better manage certain risks, such as counterparty risk (thanks to immutable data and programmable smart contracts).

The ETC Group analyzed the release of on-chain assets (on public and private blockchains). In January, the Goldman Sachs Digital Asset Platform (DAP) was launched on the Canton blockchain. The platform allows Goldman to issue, settle and hold tokenized assets.

The first institution to use the platform was the European Investment Bank (EIB), which issued two-year digital bonds worth €100 million on the platform. Issuers such as Ondo Finance, MatrixDock and Maple Finance are issuing ERC-20 tokens on the Ethereum platform that are fully backed by the underlying assets. Ondo products dominate the tokenized asset space with a market value of $110 million and hold a nearly 50% market share.

Moody’s followed in the steps of the Bank of England and published an informative report on digital bonds. They list the same benefits as the other report, but the release and its table of platforms are quite illustrative of the current situation.

Chile is preparing to use tokenized assets. Last year, Chile’s Central Securities Depository (Depósito Central de Valores, DCV) upgraded its legacy system to the Nasdaq CSD platform. It now plans to integrate Nasdaq digital assets capabilities to support the issuance, registration and settlement of digital securities and is considering using smart contracts to automate bond interest payments and other life cycle events.

Namibia has just adopted a law that paves the way for trading in tokenized assets.

Blackrock director Larry Fink said in an interview that

If we can create more tokenization of assets and securities… it could lead to a revolution in… finance.

Stablecoin news

The company has currently filed with the SEC for a Bitcoin-backed exchange-traded ETF product and has led a chain of re-apply decisions from a dozen other investment firms.

Among stablecoins, TrueUSD is being closely monitored after it unpaired with the dollar due to the bankruptcy of the PrimeTrust custodian. TUSD hit a low on June 28, 2023, of 80 cents USDT. According to CoinGecko.com, TUSD ranks fifth in terms of crypto market capitalization ($3.1 billion vs. $83.4 billion for Tether and $28.2 billion for USD Coin). The situation in many ways recalls that of USDC when the SVB bank went bust.

JP Morgan, which led to the JPM Coin launch in 2019, has started working with transactions in euro stablecoins. The first payment in euros on the platform was made by the German company Siemens AG. JPM Coin can only be used to transfer money between JPM branches or other JP Morgan clients. Therefore, the bank has called this solution blockchain bank accounts. JPM Coin is a small part of JPMorgan’s payments business. Since the jpm coin launch, the bank has used it to process about $300 billion worth of transactions, while in total, the bank processes about $10 trillion daily.

SEC Crypto Regulation

The SEC has been on a regulation push in 2023. We have already mentioned the news regarding the SEC vs Ripple case, but another interesting event happened in July. The Commission provided a perfect example of crypto compliance: Prometheum. Prometheum claims to be the first FINRA member in the cryptocurrency space to be registered with the SEC as a broker-dealer. But what is Prometheum? It’s a digital asset exchange with no assets to trade as it only plans to support SEC-approved tokens. One of the company CEOs drew public scrutiny after testifying before Congress that the crypto community was complaining for nothing, considering that all the rules were clear and the issue was just that the companies did not want to follow them. Gary himself last week on CNBC praised Prometheum, toting it as an example proving that the SEC is not targeting cryptocurrency projects.

via Twitter

The Organization for Economic Cooperation and Development (OECD) has published a new CBDC and crypto taxation system. The New Crypto Asset Reporting Framework (CARF) was developed as a result of the 2014 revision of the Common Reporting Standard (CRS) to eliminate loopholes related to the taxation of digital currencies in various member countries of the organization. Under the new structure, tax information on transactions with digital currencies will be automatically exchanged on a uniform basis in accordance with existing rules.

July 2023 Crypto Revue was originally published in Broxus on Medium, where people are continuing the conversation by highlighting and responding to this story.

Limit orders are now available on FlatQube, a high-level decentralized exchange (DEX) based on Everscale and developed by us, Broxus! This means you can now trade tokens on the DEX at an exact price, giving you even more control and flexibility.

Сhanges to the interface

We have improved the trading form and added a new Limit option in addition to the AMM (Swap) option, as well as price and depth charts for trading analysis:

After you place a limit order, it will appear in the My Orders block below the chart with all the essential information: price, sell and buy token amounts, fill percentage, and order age. You can cancel your order here if you want to:

At the bottom you can see all other active orders, with the possibility of accepting and executing them yourself, and the entire trading history:

Using limit trading

To use the Limit Trading option, select it on FlatQube’s trading form. Now you have two ways to decide on a trade: by amount or by price. If you open the lock icon and set the amount for both tokens, the DEX will automatically calculate the price according to the amounts entered:

On the other hand, if you close the lock icon and set a specific price for a trade, then after you set one of the token amounts, the DEX will automatically calculate the second one according to the price:

As you can see, for your convenience, the DEX will warn you whenever you set the price below the market, and you can always set the market price by clicking the Market Price button.

Once you have done all of the above, just click the Make an Order button and confirm the transaction — your order will be placed on the blockchain and will appear in the My Orders block.

Order execution mechanisms

So you have placed a limit order on FlatQube. What are the ways it can be executed? There are three:

• P2P: Another trader manually accepts your order and executes it in full or in part;
• Order Matching: If there is an order that matches yours, the DEX will automatically execute both orders in full or in part;
• AMM: When the market matches your order, the DEX automatically makes a swap in the pair you have selected.

For the latter two ways, there are two modes provided in smart contracts:

• The backend triggers the match;
• Another trader triggers a match for the difference as a reward (this is a fallback in case the backend is unavailable to guarantee decentralization).

Summary

The DeFi world does not stand still, and neither does FlatQube. With Limit Orders as the latest addition, you as a user have more flexibility with your Web3 trading and more interaction with other traders on the Everscale blockchain. So, ready to take your trading to the next level? Try out FlatQube limit orders now!

Explore FlatQube:

Docs | Telegram | Twitter | Discord

Limit orders now on FlatQube: level up your Web3 trading was originally published in Broxus on Medium, where people are continuing the conversation by highlighting and responding to this story.

Meet the all-new Octus Bridge logo, inspired by an octopus camouflaged against coral. The design reflects the platform’s Invisible Bridge feature and its mobility and flexibility in an environment of multiple interconnected blockchains. We’re sure you’ll love the logo; it’s the full package — modern, minimalist, and eye-catching! 😎

But that’s not all! With the new logo comes a new bridge with improvements and fixes. Here’s what we’ve done:

• To the bridge history filter: added network icons and more tokens to search, fixed the search by tokens, and removed filters by type (Credit, Transit, Default) and Solana (only from the filter — not from the bridge itself).
• To the transfer page: added the option to delete imported tokens from the token list, and fixed the “Max” value bug when selecting the Credit transfer option.
• To the transfer backend: fixed balances when performing EVM2TVM transfers, as well as the bug with TVM2EVM transfers when users paid for gas with EVER once and then had problems with MetaMask.
• To the transfer history backend: made it so that tokens are sent to the API based on network type (EVM, TVM) and filtered out unnecessary non-compliant networks.

To see all the updates for yourself, go to the dapp: app.octusbridge.io

About Octus Bridge

Octus Bridge is a decentralized DAO-controlled bridge facilitating fast cross-chain transfers in any direction within a single interface powered by Broxus.

App | Docs | TG Group | Twitter | Discord

New Logo, New Bridge was originally published in Broxus on Medium, where people are continuing the conversation by highlighting and responding to this story.

The latest updates to fees on Octus Bridge are here! In case you weren’t aware, there are two types of fees on the bridge: gas fees, which are paid in native coins for blockchain interaction, and transfer fees, which are paid in transfer tokens for the service that the platform provides.

Gas fees are always mandatory, because you always have to pay to put data into a blockchain. Now when you transfer tokens from Everscale to any bridge-supported EVM network and vice versa, you have a new way to pay for gas fees — in native outbound network coins. It is worth mentioning that it is still possible to pay gas fees with coins of both networks.

Transfer fees are only paid under certain conditions. There are new conditions for all tokens, as all Octus Bridge Vaults have recently been switched to MultiVaults. You can read all about it below.

Everscale → EVM

Gas fees

Let’s imagine you transfer tokens from Everscale to BSC but you don’t have any BNB, the native coin of BSC. To make the transfer, you can pay the gas fees in EVER, the native coin of Everscale. This feature can be enabled in the second step of the transfer. Here’s how it looks in the interface:

In addition, the bridge will conveniently calculate the approximate gas fees. If they turn out to be too expensive, the difference will be returned to your wallet.

Transfer fees

For Everscale → EVM transfers, a 0.5% transfer fee is paid if the token was originally created in an external network (i.e., not Everscale), and no fee is paid if the token was originally created on Everscale. Exceptions are USDC, USDT, DAI, WBTC, and WETH tokens, for which a 0.08% transfer fee is paid.

EVM → Everscale

Gas fees

The same feature works for Everscale as well! You don’t need EVER to transfer tokens from any bridge-supported EVM network to Everscale — you can pay for gas fees with the native coin of an EVM network.

For example, let’s say you transfer tokens from BSC to Everscale but you don’t have any EVER, the native coin of Everscale. To make the transfer, you can pay for the gas fees in BNB, the native coin of BSC. This feature can be enabled in the second step of the transfer. Here’s how it looks in the interface:

What’s more, when transferring tokens from EVM to Everscale, you can specify the minimum amount of EVER to be received on the Everscale side for additional needs in exchange for the native coin of the EVM network!

Transfer fees

For EVM → Everscale transfers, no transfer fee is paid if the token was originally created in an external network (i.e., not Everscale), and a 0.5% transfer fee is paid if the token was originally created on Everscale.

Summary

The updates make exploring the world of blockchains connected to Octus Bridge easy.

It has also become easier to bring new users into the Everscale ecosystem — now they can settle in from scratch and get the amount of native EVER coins they want in a completely decentralized way.

To ask questions and make suggestions, join us on Telegram and Discord!

About Octus Bridge

Octus Bridge is a decentralized DAO-controlled bridge facilitating fast cross-chain transfers in any direction within a single interface. Powered by Broxus.

App | Docs | TG Group | Twitter | Discord

Gas and Transfer Fee Updates on Octus Bridge was originally published in Broxus on Medium, where people are continuing the conversation by highlighting and responding to this story.

Did you know that Broxus was one of the sponsors of the recent Elysium hackathon? We sponsored two tracks in the event, each with their own prize pools.

Onchain Composability Bounty

For this bounty, we invited coders to build a smart contract system that executes a chain of simple interactions with existing building blocks.

1st place: DeFi Strategy Builder — $5000

This is a tool that allows you to create a DeFi strategy combining operations like transfers, swaps, depositing, farming, etc. Simply put, you can build your own decentralized application using blocks that work with Everscale-based tokens, all through a user-friendly interface. If the developers keep working on it, the project will have a bright future. We wish them the best of luck!

Project repository with more information: GitHub

Demo version of the application: Demo

2nd place: Gasless Wallet — $4000

A wallet that doesn’t require users to pay EVERs in order to make Everscale-based transactions. Not bad, huh? The project looks promising, and we hope that its developer will eventually make it production-ready.

Project repository with more information: GitHub

Video presentation: Video

3rd place: Everscale Bet Rates — $3000

This is a game in which players can bet on the WEVER rate in the WEVER/USDT pool on the FlatQube exchange every 24 hours in two rounds. The closest guesser receives the prize pool accumulated during the game round, minus the developer’s commission. If there are multiple winners, the prize is divided equally among them.

Project repository with more information: GitHub

Demo version of the application: Demo

Octus Bridge Deployment In Everscale Devnet / Ethereum Testnet

For this bounty, we invited participants to try to deploy Octus Bridge in Everscale devnet / Ethereum testnet.

1st place: Octus Bridge Deployment — $1000

The participant dug deep and did an excellent job. He gave us screenshots, scripts, tools and other documentation of how the deployment process would work. While the project was impressive, it was not completely finished. We hope that the developer will finish it in the future and make Octus Bridge testing easier!

Project repository with more information: GitHub

The prizes will be sent on December 23rd. Thank you to all who participated! For those who missed out or would like to try their hand again, be on the lookout for similar opportunities down the line!

To discuss the hackathon and all the winners head over to the Everscale Discord.

Broxus Bounty Winners in the Everscale Elysium Hackathon was originally published in Broxus on Medium, where people are continuing the conversation by highlighting and responding to this story.

The main goal of this EVER Wallet update is to add support for NFTs in the wallet.

1. User NFTs are now displayed in the “NFT” section, which has replaced the “Transactions” section. You still can access your token transaction history by clicking on any assets available on the list.

2. NFTs are displayed in the wallet and embbed into NFT “Collections”. Here you can toggle between in-line and tile displays of your collections.

3. After the update, users that own NFTs will be able to see them in their wallets along with the collections the NFTs belong to according to the whitelist created by Broxus.

4. If you don’t see your NFT in your wallet, you can click the “Add” button to manually add your NFT to your wallet. However, please note that you can only add NFTs that you own.

In order to add an NFT to your wallet:
- Enter the address of your NFT
- Enter the address of the collection that your NFT belongs to

If you enter the address of an NFT that you do not own, or the address of a collection that does not correspond with the NFT you own, you will receive an error message.

5. By clicking on the “Collection” icon, you can:
- See the descriptions of different collections
- Go to the collection page on Everscan.io.
- Hide a collection. In order to view a hidden collection again in your wallet, you’ll have to add it again by clicking on the “Add” button.
- Arrange your NFTs in your in-line or tile display

6. By clicking on the “NFT” button, you can:
- See the name of your NFT
- Go to the NFT Contract page on Everscan.io
- Go to the NFT Owner page on Everscan.io
- Transfer your NFTs

7. By clicking on the “Transfer NFT” button, you can send an NFT to another wallet by entering the destination wallet’s address. You can send an NFT to any address. NFTs can be transferred to another account as long as the account in question is not engaged in an auction or a sale at the moment the NFT is sent.

8. When a user receives an NFT, they will get a notification in their wallet informing them. The NFT’s corresponding collection will be added automatically.

The circle with a number indicating the quantity of new NFTs is displayed:
- In the title of the NFT tab
- On the collection avatar, if you are using the tile display
- Next to the name of a collection, if you are using the in-line display

9. DENS addresses can also be added and transferred as individual NFTs.

10. Last but not least, on the main page of the EVER Wallet, the total value of your assets is now displayed in its equivalent in US dollars instead of EVER tokens.

New EVER Wallet Google Chrome update brings NFTs closer to users was originally published in Broxus on Medium, where people are continuing the conversation by highlighting and responding to this story.

Sustainable business model

The FlatQube project has been in existence for over a year, and in that time we have managed to attract significant liquidity and facilitate swaps that cumulatively add up to more than 500 million dollars!

In the first year of its existence, our project did not have its own token. However, not so long ago, the QUBE token broke onto the scene and now we can finally reveal all our plans for the near future.

The era of blockchain projects growing at rapid speeds has ended, and it is not known when that kind of growth will resume. As a blockchain project, we should be flexible and sensitive to the realities of the market and ready to adjust our ecosystem and products in order to ensure their best performance. Trading volumes on the exchange are able to generate yields ranging from several to double-digit percentages per year, which is a very good indicator of the long-term prospects of a business. Past experience shows that projects that have a stable business model have become successful. Stability allows you to survive periods of recession and retain your development team and end users.

In this regard, the QUBE token will have real business value and use cases. These use cases are detailed below.

QUBE Allocation

15 million QUBE tokens will be minted in total and will become accessible over the course of 4.5 years.

pre-DAO period

The first 2 million have already been minted for the first half-year period. The way they were distributed has helped us test the token’s demand, adjust the market and take time for further development.

They were distributed as follows:

The DAO

Another 13 million QUBE tokens will be minted when the DAO launches.

They will be distributed as follows:

Release schedule

The DAO emission will operate according to a sigmoid function

In which:

• k = 0.15 — smoothness coefficient
• time — number of weeks
• MID POINT = 104 — the total number of weeks divided 2
• TOTAL SUPPLY = 13,000,000 QUBE — the total supply during the DAO period

Then, the total circulating supply can be easily calculated as a sum of the pre-DAO supply combined with applied vesting and the circulating supply. Tails of DAO circulating supply could be balanced.

This distribution model ensures that too many tokens will not be given away at the beginning, but at the same time, lays the foundation for future growth while maintaining profitability. The later part of the token distribution process will consist of a smaller number of tokens and will occur when the project will have already established itself and will not need additional motivation for liquidity providers.

Allocation goals

Launchpad and Private sale — we provided the community with private and public purchase options for QUBE tokens. The funds raised went to support the Everscale blockchain, as well as primary liquidity for the QUBE token. Tokens sold in this way are linearly unlocked every month for 12 months and go to investors.

Liquidity — tokens from this category were allocated to LP tokens for trading pairs involving the QUBE token.

Team — these are tokens that the team receives for their work on the project. As one of the most interested parties in the success of the project, the team is invested in the long-term health of the QUBE token and, at the moment, the team has not yet sold a single QUBE token!

Treasury — these are tokens that have been earmarked for the development of the project, including marketing efforts, future investment rounds, sponsoring other development teams and much more. Since the advent of the DAO, tokens from the Treasury can only be allocated to certain things as a result of voting.

Farming — These tokens will be earmarked for liquidity provider rewards to be distributed over the planned 4.5 years.

FlatQube DAO

QUBE is first and foremost a governance token. We believe that token holders should have tangible returns from owning it and its value should not just be tied to the expectation of a price increase.

Vote escrow

Participating in FlatQube DAO governance requires that an account have a balance of vote-escrowed QUBE (veQUBE). veQUBE is a virtual asset that only exists on FlatQube and is used within the DAO to determine each account’s voting power. veQUBE cannot be transferred. The only way to obtain veQUBE is by locking QUBE. The maximum lock time is four years. A user’s veQUBE balance will remain constant until the QUBE unlock.

The exact formula can be found below:

Lock time — selected lock time

Max lock time = 4 years — maximum available lock time

Governance

After the creation of the DAO, active members of the community, which we define as owners of veQUBE, will be able to create their own proposals and vote.

Examples of possible proposals:

• Use of treasury tokens
• Addition of new fee tiers
• Implementation of new token mechanics

The initial governance parameters are as follows:

• 20,000 QUBE total supply is required to submit a governance proposal
• 80,000 of QUBE supply is required to vote to reach a quorum

The parameters can be changed via proposal.

Gauge

Most of the QUBE supply is directed to liquidity providers on FlatQube. Each pool has an individual liquidity gauge.

Additionally, every two weeks all veQUBE owners can take part in voting for the distribution of QUBE tokens in favor of LP tokens in the farming program.

The initial gauge parameters are as follows:

• The minimum weight of a pool given the current total token distribution is 1%
• Once every two weeks, a new voting period starts
• Pools that have 0% weight for 4 periods in a row will be excluded from the list of gauges

QUBE Utility

Fees

Currently, the exchange fee is 0.3% for most pairs and 0.05% for stable-stable pairs. All commissions are directed to the buyback and burning of QUBE tokens. So far, there have been three token burns: first, second, third. This process will continue, however, the mechanism can be changed via the DAO.

Services

Getting added to the FlatQube whitelist will require an initial 100 QUBE tokens, though this may change through DAO voting

Getting added to the list of gauges requires an initial 1000 QUBE tokens, though this may change through DAO voting

Boosted farming

Locked deposits — users who have locked their LP tokens for a certain period (from 1 week to 4 years) receive a farming boost of up to 50% on top of the base APR. For example, if the base APR is now 70%, then LP tokens locked in for the maximum period of time will receive a 105% APR.

Boosted farming — users who have locked their QUBE tokens and received veQUBE tokens can boost farming by up to 150% of the base APR. For example, if the base APR is now 70%, then LP tokens locked in for the maximum period will receive 175% APR.

Locked deposits and Boosted farming add up linearly. If users have the maximum boost in LD and BF, they will receive 210% APR instead of the 70% base APR.

Introducing QUBE was originally published in Broxus on Medium, where people are continuing the conversation by highlighting and responding to this story.

Obviously, for web3 builders, summer and the bear market don’t constitute a reason to stop developing projects. On the contrary. That’s why we have already managed to do a lot this summer: from integrating Solana into Octus Bridge to a complete redesign of Everscan.

What other important things have we managed to do during these three months? What interesting updates do we have in store for you? Here we go!

Octus Bridge

🔸 In progress:
• Solana integration in the final stage
• Rewriting EVM vaults contracts on Diamond proxy pattern technology
• Development of NFT Bridge smart contracts architecture
• Coinbase Wallet support
• Required refinements for oracles launch

FlatQube

✅ Done:
• The autofarming was launched with the help of the blackink.finance app. A third party solution was developed by blackink.finance engineers.

🔸 In progress:
• Testing DAO FlatQube and veQUBE staking
• Testing smart contracts and front end redesign for 3pools
• Smart contracts for P2P trades

Everscan

✅ Done
• Complete redesign of the interface
• Smart contracts verification
• Transaction diagrams
• NFT collection displays
• Korean, Japanese, Indonesian localizations

EVER Wallet

✅ Done
• EVER Wallet v2 released into public beta testing
• Korean, Japanese, Indonesian localizations

🔸 In progress:
• Onboarding script refactoring
• Redesign integrated browser in mobile app
• Redesign “Seeds” and “Accounts” menu
• Chinese and Vietnamese localizations
• NFT support

Other updates

Locklift v2
• The Everscale blockchain developer tool Locklift has been completely rewritten on node js and updated to v2

BroxieNFT
• A few NFT enthusiasts from the Broxus team have launched the Broxie NFT collection.

Broxus Elysium Hackathon
• In July, the Broxus Elysium Hackathon with a prize pool of $30,000 was held in Belgrade

And to conclude this article, we would like to remind you of a great analytics tool, snipa.finance, which allows you to keep track of your portfolio on the Everscale blockchain!

A big shout out to our community which follows all our projects and helps us build with its invaluable feedback!

Broxus summer progress report was originally published in Broxus on Medium, where people are continuing the conversation by highlighting and responding to this story.

2) Connect your wallet:

3) Download the ABI TokenUpdaterFactory

- Click “From link” :

- In the “Link to JSON ABI:” field, write: “https://raw.githubusercontent.com/broxus/token-updater/master/build/TokenUpdaterFactory.abi.json"

- click Submit

4) In the “Contract address” field, write: “0:992d790ee8aadd1f2a3b41a392a55a1fd00a8dcafbb0fd29444e0ad7c458d526” and click on “Search”

5) Scroll down to the “createUpdater” block on the right column and expand

6) In the form that opens up, enter the following:

callId — leave this unchanged

oldRoot — enter the address of the old token

updaterOwner — enter the address that can take ownership of the new token once the update is complete. If you want to completely reject further token emmissions in the future, for the updateOwner field enter Black Hole

name, symbol and decimals — fill in the same way you would for the old token

burnByRootDisabled — check this box

burnPaused — leave unchanged

remainingGasTo — enter the address you connected from

Enter 10 EVER as the gas amount :

click send and confirm the transaction in your wallet.

7) Now you have to scroll up to the top of the page and wait.

In the column on the left, your transaction will appear. Locate the block with “UpdaterCreated” in it:

Make sure that this is your transaction and save the address.

8) Prepare a pull request here: https://github.com/broxus/everscale-assets-upgrade and add to main.json the following element:

{

“symbol”: “<symbol>”,

“logoURI”: “<icon url>”,

“rootV4”: “<old token root address>”,

“rootV5”: “<new token root address>”,

“proxy”: “<updater address>”

}

Instructions for deploying token upgrade contracts was originally published in Broxus on Medium, where people are continuing the conversation by highlighting and responding to this story.

Why the migration was necessary

For the past three months, our developers have been putting the pieces in place for a network-wide upgrade that has included the rollout of new versions of almost all Broxus platforms. Key to the shift to new platforms was the way that the old versions of Everscale tokens were implemented. Our devs uncovered a bug in the old token implementation, which resulted in the decision to launch a global upgrade in order to improve network capabilities. While the bug did not constitute a risk to the security of user funds, nonetheless, it was significant enough to warrant an upgrade. Further details on the bug will be released once the Dapps on the Everscale network have updated to the new tokens.

The second major cause of the migration was the establishment of a new token standard, TIP-3.1 for Everscale tokens. After a year of using the TIP-3 token standard, we determined that it needed to be improved for our Dapps and platforms to be able to better function. Because the old tokens are no longer compatible with the network, every token must be upgraded to the new standard. You can find the documentation for the new standard here. Part of the new standard has introduced upgradability into the tokens. So, while we don’t intend to have another migration any time soon, now we have upgradability, which makes everything a lot easier.

The new Broxus platforms

This brings us to our new look platforms. In order to upgrade your Everscale tokens, all you have to do is bring them in your wallet to our new Bridge: octusbridge.io or to our new DEX: flatqube.io. These platforms will scan your tokens automatically and, if an upgrade is necessary, you will get a popup that will walk you through the process. By the way, we think you are really going to like the UX for these platforms, we are quite pleased with how everything has turned out.

We have released new versions of the following platforms:

- https://tonswap.io -> https://flatqube.io

- https://tonbridge.io -> https://octusbridge.io

- https://wton.io -> https://wrappedever.io

WTON will no longer be used on any of our platforms for farming, pools, staking, bridge transactions, etc. Instead, the new wrapped token will be WEVER. As a result, you will have to unwrap your WTON tokens to EVER tokens on https://wton.io and then wrap them to WEVER on https://wrappedever.io.

In a few weeks, WEVER will be integrated into our new Octus Bridge, which will allow you to transfer them to any of the connected networks, like Polygon or BNB Chain. The integration of WEVER into the Octus Bridge will be different from any other integration (eg USDT, WBTC, etc). No WEVER tokens will be burned on EVER->EVM token transfers. Instead, they will be locked in the Proxy contract and unlocked in EVM->EVER transfers. This means that the WEVER total supply won’t increase or decrease on cross-chain token transfers. You can find the current implementation of WEVER contracts here. One important feature of the new implementation is the ability to attach the payload onto WEVER wraps and unwraps. This essentially enables you to build continuous action chains via WEVER.

The Octus Bridge (ex TON Bridge)

Now, let’s look at the Octus Bridge. Our devs built Octus from scratch, including the last round relays in the genesis round. Each relay on the Octus Bridge has to redeem BRIDGE tokens from the old Bridge (https://v2.tonbridge.io/) and relaunch the relay node with the appropriate configuration. Then they have to upgrade their BRIDGE tokens on the new Octus Bridge: https://octusbridge.io and stake them.

The FlatQube DEX (ex TON Swap)

Our new FlatQube DEX was also built from scratch. Users of the old DEX have to remove their liquidity from the old version (v4.tonswap.io) and upgrade their tokens to use https://flatqube.io. To help you with this process we have put together a set of simple instructions for you to follow here. Although it may seem daunting, we assure the process is short and painless.

Once again, we would like to thank our community for their patience and support throughout this process. We did all of this for you. The future for Broxus and for the entire Everscale community is bright, and we could be happier that you are with us on this journey.

N.B. Considering the scale of the migration and all the different platforms that have been upgraded, there may be rough edges that will need working out and confusion for those using the new platforms for the first time. We have a Telegram group dedicated to support, where we will happily assist you with any problems that might arise. Additionally, we have an updates channel on Telegram where you will be able to follow all the latest developments as they happen.

For help head here​​: https://t.me/OctusBridge (+ Russian group: https://t.me/tonbridge_official)

And for updates, here: https://t.me/broxus_defi_updates

Breaking down the Everscale token migration was originally published in Broxus on Medium, where people are continuing the conversation by highlighting and responding to this story.