Ergo Monthly Wrap-Up: October

Hello Ergonauts!

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Apologies for the delay this month in getting this out. COVID wiped me out and my attention has been drawn elsewhere the past few days. Some quick updates:

• Another emission reduction occurred on Oct 9th lowering the block reward from 36ERG/block to 33ERG/block. The next drop is scheduled for January 7th.

• A Gold Oracle Token was been acquired on auction_house_ for 4,750 $ERG, granting the new owner a place in the Oracle pool (v2) for DexyGold. The holder is set to receive GORT tokens as rewards.

• There is a remote job opening that mentions Ergo being advertised at Cornell AAP 👀

And now, let’s dive into the main event:

What's going on with that warning on CoinMarketCap?

If you head over to the CoinMarketCap page for Ergo, and toggle between the 'Price' and 'Market-cap' chart, a clear deviation from what most people expect to see is shown. To our knowledge, Ergo appears to be unique in this aspect, with no other projects exhibiting such a marked difference in their data representation.

Recognizing the potential for confusion among users, we proposed that CoinMarketCap address this issue. We suggested that the EFYT data either be presented in an independent chart, similar to accommodations made for other projects, or be depicted in an alternative format that would mitigate any misunderstanding.

This request follows an extensive two-year effort to rectify inaccuracies in our reported circulating supply. In the course of resolving this issue, we were unexpectedly presented with an invoice for $5,000 to continue the process. However, after publicizing this situation on Twitter, and with corroborating accounts from other projects like Radix, Nano, and Kujira appearing, the fee was promptly rescinded, and the necessary corrections to our circulating supply were made.

Despite our intentions being solely to ensure accurate and transparent information for users, a note has been placed on the Ergo page which misrepresents our actions and intent. We believe this to be an unjust portrayal and remain committed to advocating for clarity and accuracy in data representation for the benefit of the entire cryptocurrency community.

The recent event has garnered attention across the cryptocurrency community, with notable figures including Charles Hoskinson, The Cardano Whale, alongside others such as Nic Carter, as well as projects like MinSwap expressing their concerns and lending their support.

Veralidity announced that after considering the operational issues at CoinMarketCap, they've chosen to exclude it from their Adobe Commerce Magento Currency Rate Import integration. They are currently providing integration with CoinGecko and are in the process of adding Cardano Oracle data. Additionally, Veralidity expressed enthusiasm about including Ergo (ERG) as a native currency in Magento, leveraging CoinGecko's currency rate import functionality. The team is looking forward to developing an ERG payment method and wallet integration.

We are hopeful CMC will reverse its stance and start giving more attention to community projects, but in the interim, we are deepening our partnership with Coingecko. Ergo has now been listed as a Layer-1 coin in their categories section, and we are pushing for DEX integration for Spectrum which will enable all Ergo native tokens to be tracked on coingecko seamlessly.

Exchanges

In our mission to broaden the Ergo platform's reach and utility, we have some important updates from the exchange frontier:

• MEXC Raffle Plans: Efforts to initiate a raffle with MEXC hit a snag. Despite generous community backing with one entity offering to cover the raffle, MEXC told us there was a 20% price hike, prompting us to put a hold on the initiative while we evaluate our options.

• Bitpanda Discussions: Preliminary discussions are in motion with Bitpanda regarding wallet integration, which would potentially enable smoother withdrawals and deposits.

• Dialogue with NDAX: We are similarly in the initial stages of engagement with NDAX. As with all exploratory talks, there's no guarantee of collaboration, but we are committed to keeping the community informed on any significant developments.

• CommEx is looking for community feedback on what coins to list. Please submit this form with ‘Ergo’ to see Ergo represented there.

ERGOHACK

• ErgoHack VII: The Future of Finance and the Path to Adoption ran from October 13-15 with 9 submissions in total.

  • Satergo: Light nodes with Satergo.

  • SideChainProto: Exploring the implementation of sidechains on Ergo.

  • Lilium: Event Ticketing.

  • Atomic Swap: Web Interface.

  • Ergsnap: Metamask Integration.

  • hodlbox.xyz: Gamified time-based non-custodial vault.

  • ReputationSystemTeam: A reputation system on Ergo.

  • Ergo Poor Man's Wallet: A cheap hardware wallet solution.

  • auctioncoin.app: A Decentralized Token Issuance Model on Ergo Blockchain

For more information on each of these projects see the ERGOHACKVII section in the documentation. Judging is currently underway and results will be released shortly.

Project Highlights:

So as not to have to reintroduce these projects every month, for more information please see the ecosystem of the documentation:

• DexyGold: After another review, they plan to deploy tracking contracts to the mainnet. They’ve successfully executed its first mainnet transactions for top-up and buyback paths within buyback contracts and are preparing for tracking contracts deployment. Backend bug fixes have been made to improve integration with the Spectrum frontend. The UI is being actively updated, with particular attention given to integrating Spectrum and enhancing the user interface for liquidity actions. The Dexy pool now boasts 15 active operators, and after resolving issues with the buyback contract and deployment logic, they have successfully launched a GORT/ERG liquidity pool on the mainnet. The team is focusing on UI work, particularly on liquidity management features, while also privately testing LP swaps on Dexy.

• ChainCash: is enhancing its off-chain software and ErgoScript functions, fixing issues with its contracts to prevent unauthorized spending, and preparing for presentations and documentation updates. The focus is on improving the current system before exploring sidechains or Layer 2 contracts. Efforts are being made to address double spending and redemption problems in Layer 2, while also integrating the backend of Dexy LP with the Spectrum frontend for testing purposes.

• Machina Finance: Added initial SettingsBox contract and off-chain code.

  • ergo-meta: Improved contract metadata schema Switched from Deno to Bun JS runtime

  • ErgoMatic: Made a start on plugin documentation.

• Paideia: Paideia Beta is gearing up for a public beta release on Nov 20th, fixing a series of UI bugs, and preparing for a January 2024 soft launch. The team is setting up a more resilient infrastructure and planning to integrate bPaideia into a faucet for test contributions. Chained transactions, various bug fixes, and WebSocket connectivity for real-time interactions have been implemented, with ongoing beta tester feedback guiding further improvements. They're also planning enhancements to DAO configuration UX, staking information, and vote tracking. Issues are being tracked on GitHub, where contributors can earn bounties for addressing them.

• Blitz: teased a dev build on Twitter.

• Rosen: Successfully launched their IDO on Spectrum! On the development front, a contract review has led to bug fixes and successful retesting. The team has revamped APIs, streamlined transaction processes, and is finalizing a new user interface. Launch preparations are focused on tokenomics and token distribution necessary for activating watcher sets. Upcoming features include further enhancements to the landing page, a refactored app with a new UI and multi-wallet support, and improved service management and fee distribution mechanisms. The Rosen team attended the Cardano summit in Dubai, and is currently working the Guards to get the bridge live ASAP!

• ZenGate: is actively enhancing its MVP website by integrating a shipping and tracking API. They're exploring a migration to the MedusaJS framework to develop a B2B marketplace and initiating the integration of a payment processor to streamline transactions between sellers and buyers. They've implemented a queue for chained transactions and completed a generalized TypeScript transaction builder. Research and development for the Cardano Winter protocol are also underway.

• Thz.FM: All smart contract functions have been successfully tested via our front end. Working now to finish the user interface/experience for the MVP launch

• Phoenix: working on UI additions for hodlERG10 and rewriting the contract for hodlToken.

• Analog Ergo: has completed automatic refunds for the ErgoTestnet and Sepolia EVM Testnet atomic swaps, fixed lock time checking bugs, and is focused on improving the user interface and personalization options. They've implemented automated lock time verification on Sepolia, improved the swap frontend UX, and are planning to add Ergo automated lock time checks. The backend atomic swap API is ready for testnet deployment, with ongoing work to connect it to a user-friendly WebUI. For community engagement and collaboration, they encourage joining their Discord server.

• Auction Coin: Exploration of a meme coin concept is ongoing.

• Spectrum Finance: Working on multiplatform off-chain library for Spectrum DEX with native support for Spectrum Bloom

• Bitmasks: refining and customizing box models for various iterations and is diligently addresses minor visual bugs across numerous combinations. The team is also conducting visual QA and testing for cross-chain breeding results involving Ergo, Cardano, and Bitcoin.

• CruxFinance: Crux is focused on enhancing user interface and functionality with minor UI fixes, development of endpoints for staking, liquidity pools, and vesting, and has addressed a database deadlock issue. They've also completed a profit & loss endpoint and are refining a positions endpoint to offer users detailed financial insights including open positions and potential earnings.

• Lillium: updating their website to integrate with Ergo authentication, making UI enhancements, and conceptualizing contract designs for their Lilium ticketing system.

• ErgoPad: enhancing its platform to connect stakers to a new Cardano-based launchpad, offering benefits across both ecosystems. The update introduces multi-wallet support for dashboard access and staking activities, as well as authorization via Nautilus, mobile, or OAuth providers. They have resolved issues with cold wallets and OAuth account logouts, improved UI elements, and are developing a user settings page. Upcoming features include wallet naming, support for Ledger and SAFEW, and Google Auth integration. Additionally, an account structure that accommodates multiple wallets through ErgoAuth or standard OAuth services like GitHub and Google has been implemented.

• ErgoNames: UI implementation in progress

• HodlBox added custom Bitmasks Treasure Chests as proof of concept of different communities (same max lock time till 2024-10-15 but higher ERG/USD unlock price) -> inviting other communities/ individuals to create custom Treasure Chest Images/Configs and receive 0.5% ui fee.

• Duckpools: smart contracts have marked a significant achievement by successfully transitioning into the "parent" interest state. This pivotal step forward is crucial for our algorithmic interest rate system, which is at the heart of scalable and perpetual borrowing solutions.

• EXLE: “In the middle of a drama, another loan to Kenyan cooperative has been provided, with 42% of the loan amount taken from repayments of previous interest-free loans. Let's not forget why are we here." - kushti

• ErgoMixer 4.4.0 update rolls out with stealth address support, allowing users to bolster transaction privacy. Receivers can now create and manage Stealth Addresses directly within ErgoMixer, while senders can generate Stealth Payment Addresses for secure transfers. For a detailed guide on these new features, visit the documentation.

Community Marketing

• GREASYCEX (GCX): A display of the entire Character Set for the Greasy Royale is above. You can now connect your wallet to view/hear your GreasyCex Royale character cards, with audio player attached over at Thz.fm. (see image below)

  • Catch up on the Special monthly AMA with Austen and qx() Ergo for Dummies:

• ErgOne: ErgOne is streamlining their voting-for-content schedule to the last day of each month, with a system update rolling out before next week to take effect in November. They're incentivizing content creation by granting all registered users one point to submit content, with rewards given for quality contributions. October's rewards are set for distribution next week, with a new script to automate this process by October 5th. Additionally, ErgOne is introducing a Rewards Halving next month, reducing the rewards from 5000 to 2500 $ErgOne, as part of their Proof of Content Protocol (PoCoP) to promote user engagement and spread the #ergo hashtag.

Infrastructure & Tooling

• escript.online has launched after a successful Ergo Raffle, a playground for ErgoScript!

• Protocol R&D: continuing subblocks code and corresponding block transactions propagation via compact block, shaping p2p logic now, will start EIP after organizing 6.0 issues in sigma, retargeted some issues for 5.x or 6.x polishing sidechains whitepaper. Colby Cellador has also been diligently working on issues in the node.

• Sigma: Sigma has merged a PR following a review comment and has submitted another for merging, which aims to modularize Sigma by detaching serializers from the ErgoTree interpreter to reduce the JS module size. Two PRs are in the queue for review, advancing Sigma towards version 5.0.13. They've also implemented a new Pay-to-Script-Hash (P2SH) address encoding and released the Sigma SDK version 5.0.12. More updates for the next version are being prepared for review.

• sigma-rust: released sigma-rust v0.25.0

• The P2P market template by SavonarolaLabs is available on GitHub, with a demo showcased on Twitter. It includes deployable features such as a best practice footer with open-source social links, KYA wallet interactions, a simple contract supporting developer fees and multiple tokens, adjustable and compilable contracts, and sample branding.

• Appkit v5.0.4 released

• Tabby POS: Preparing for launch Nov 20th. You can follow their weekly updates on Medium.

• Satergo update, available on GitHub, introduces light node setup support and features improved toggle switches with enhanced animation that gradually fills with color as it slides from OFF to ON.

• EWC (Ergo Wallet CLI) is a command-line tool for the Ergo blockchain, utilizing Fleet SDK and TypeScript. It allows users to create or restore wallets, sign and send transactions, and check balances. It can fetch data from an Ergo node, compile ErgoScript, decode ErgoBox register values, and supports both mainnet and testnet. It includes tests with 100% code coverage.

• ergsnap: During the last ErgoHack, the ergsnap team developed a Metamask integration module and wallet management UI. They are currently ensuring everything functions correctly before public release. The repository can be found at ergsnap GitHub.

• FleetSDK: Added streamBoxes() method to GraphQLChainProvider, added mempool aware operations to GraphQLChainProvider and added API TSDocs

  • Ergo NFT Mass Minter script for Fleet SDK from the brains behind Thz.FM.

Discussions:

• Since the Sigmanauts were in control of the original Ergo Twitter accounts, they voted on what to do going forward now that the ETC account was put out its misery by Armeanio.

  • Community Discussion on Twitter

• The Nautilus team is researching using nostr protocol as an off-chain messaging layer for Ergo protocols.

• Progress has been made on the peer-to-peer layer for weak sub blocks. The team has opted for a compact blocks approach for more efficient syncing of transactions in the mempool and new blocks, which offers simplicity and efficiency comparable to alternatives like Graphene. A public pull request with the initial code is available for review at GitHub PR #2055.

• Work is underway on ErgoTree version 6.0, which includes critical fixes and new functionalities in preparation for an upcoming soft fork. Details can be found on the SigmaState Interpreter Milestone 5 page.

• Led by Ergo community developers ldgaetano and shishirpai , @4EYESConsulting does ErgoScript design and audit consulting. Check 'em out!

Stay Ahead of the Curve with r/Ergonauts

Thanks for reading! If you're seeking in-depth analysis, community-driven projects, and the latest news on Ergo’s evolving ecosystem, our subreddit is your essential resource.

This month we’ve delved into:

• Market Mechanics & Dynamics: Critical discussions on CoinMarketCap controversies and ERGO’s market presence.

• Ergo’s Ecosystem Expansion: In-depth coverage of Rosen Bridge developments on Spectrum, offering insights into cross-chain potentials.

• Trading Analysis: Timely updates and analytical discourse on ERGO's price action and market trends.

• Social Sentiment: Conversations and polls gauging ERGO’s perception and areas for strategic community outreach.

• Learning Resources: A trove of content that breaks down complex crypto concepts into digestible insights, perfect for both newcomers and experts.

• Technical Innovations: Information on the latest technical enhancements, including sub blocks and new token protocols.

• Community Engagement: Highlights of ErgoHack initiatives and recaps of community Q&A sessions, inviting active participation.

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Join us next month for another jam-packed update no doubt!

Soon is approaching.