Define DOT and make Changes (June 2nd to June 8th)

What is up, my friends!

Following a busy week with events and big announcements, it usually results in some much needed respite. Well, you could consider the week started quiet, and then suddenly compelling news of definitions and changes all came along.

This week’s top story will focus on those compelling updates of what is being defined and what changes are being made. Change is inevitable, but do we perceive them as good, bad, indifferent, or essential? Perhaps Gav’s recent view of being less opinionated is the best approach?

Whatever the news and updates that are flowing, the WagMedia Weekly Newsletter is on hand to share them in the interest of token holders. The fundamental values of Web3 align with journalistic integrity; therefore, we aim to provide a fair take on what we cover.

The same approach is also taken when it comes to the content that is being rewarded through WagMedia. Thus, in this week's edition, we shall also catch up with the recent content being generated. Hopefully, it will allow our readers to recognise WagMedia’s ability to cultivate creators while also adhering to fairness.

For those interested in getting involved in creating content, keep your eyes peeled for our bounty announcements. There has been a recent flurry of bounties, including some which you may still have time to participate in. For instance, the bounty topic on Wish for Change rewards up to $75 US dollars worth of DOT and closes on June 13th.

Without further delay, let’s check out what changes and content are being made.

Dodow, Chief Editor

Top Story of the Week - A DOT of Changes

Written by Sanchez

As the Ancient Greek philosopher Heraclitus opined, "Change is the only constant." This line of thought suggests that everything around us constantly changes, which certainly applies to blockchains and the products and services built on them. By taking a quick look at the blockchains that were present a couple of years ago, it is easy to see many changes.

For instance, there has been a constant reshuffling in top coins by market cap, projects have sunset or pivoted, and as ever, technology advances. Even technological approaches, such as the modular thesis where you split Data Availability, Consensus, and Execution layers, which were once all handled by a single blockchain network, is currently being explored.

When it comes to giants like Bitcoin and Ethereum, they have also undergone much change. For Ethereum, we have witnessed the move from PoW to PoS, and currently the emphasis is on L2 roll-ups, which are essentially similar to Polkadot parachains. We now also see a movement to apply the L2 approach to Bitcoin, thereby enhancing its value proposition.

On the other hand, Polkadot was built with adaptability and the idea of change. The very architecture of Polkadot enables it to be easily upgraded with Runtime upgrades, and changes can be made to functionalities and features. Even better, these changes are subject to on-chain governance before being approved and executed.

This adaptability and upgradability have enabled the formal definition of Polkadot 2.0 via OpenGov. However, the decision does come with some controversy, as it was opposed by Gav in the Polkadot forum. Given that JAM has been ratified by the community as the next major version of Polkadot, defining a version pre JAM might not be helpful.

That said, when it comes to the broader Web3, simplification with the definition might help overcome the sentiment of complexity. Polkadot is renowned for being technologically advanced, and with innovations such as Asynchronous Backing, Agile Coretime, and Elastic scaling, we would be witnessing significant advancements.

With these advancements taking shape, parachains within the Polkadot ecosystem are gearing up for change. Many are poised to implement Asynchronous Backing to boost transaction speeds, and Coretime for block space acquisition, which replaces crowdloans.

We recently covered Moonbeam’s transformation in a previous newsletter and x article, unveiling Moonrise—a revamped product roadmap that is aligned with Polkadot 2.0. Furthermore, Tanssi, working closely with Moonbeam, is perfecting its novel and quick-to-market pathway for developing app chains on Polkadot. The co-founder also recently confirmed they’d be utilizing the Moonbeam Routed Liquidity (MRL) to service the liquidity requirements of its app chains

Perhaps, the most noticeable change for Moonbeam was the rebrand, and speaking of rebrand, this week saw HydraDX rebranding itself as Hydration and unveiling a silky smooth revamped website. With plans to introduce a lending market and launch the Hollar stablecoin, Hydration aims to offer a comprehensive suite of DeFi services.

This strategic shift precedes the Hydration campaign, a liquidity mining initiative offering 1 million DOT as incentives. Existing users of HydraDX can seamlessly transition their setups to Hydration, which is facilitated by a prompt on the website.

In a similar vein, Oak Network has rebranded as Ava Protocol. Ava is poised to extend its automation offerings to Ethereum and beyond. With plans to provide automation services on its Polkadot parachain and Ethereum's Eigen Layer, Ava aims to expand its reach across multiple chains.

Additionally, the protocol's native token, OAK, has been rebranded as AP. For TUR, the native of Turing Network on Kusama, potential solutions for continued tradability are being accessed and a roadmap will be made available soon.

As the Web3 landscape evolves, we also see changes of direction and focus. One parachain this week had its change of direction confirmed by the industry leading token tracking platform, Coinmarketcap. Phala Network is poised to become a significant player in AI development, as it recently unveiled its advancements in AI technology.

Initially recognized for privacy and then cloud computing, Phala has taken its infrastructure and expertise with trusted execution environment (TEE) to focus on AI application. This approach is exemplified through utilizing the AI Agent Contract, Agent Wars, and Redpill, each serving distinct purposes within the network.

When it comes to community, especially NFT DAOs, change can be quite unnerving. However, Youdles can probably be a bit more relaxed about it, given they will eventually showcase the power of InvArch chain abstraction technology.

The migration of Youdles, originally minted on Kusama to the Astar EVM Network aims to broaden the reach of the DAO by making it accessible to a greater user base. The collection has been expanded to include 5000 Youdle avatars, with 2300 available for purchase at 1000 ASTR each. Each Youdle will feature customizable items that are accessible on the Singular NFT marketplace.

Additionally, the Youdle team has released a roadmap outlining key milestones, including transferring the Youdle collection to the Astar Network, launching the YOU token on the Hydration Network, and integrating InvArch's DAO tooling.

Change is the only constant. Polkadot provides a powerful combination of modular building, forkless upgrades, canary net battle testing, and cutting edge technological advancements, which ease the path toward change.

This can all be safeguarded with governance mechanics, which are considered the most advanced in all of Web3. While OpenGov may have decided to define Polkadot 2.0, at the end of the day whether it is 2.0, 3.0, or any other version, it is still Polkadot.

The upgrades and changes covered above are unlikely to be pertinent to just Polkadot. That said, the JAM blueprint, as laid out in the Gray Paper, signifies an even greater change on the horizon. This can be considered an exciting development, as the expectation is that Polkadot will be capable of much more.

Featured Update - Define DOT Content

Written by yay.oi

Is it getting humid in here or am I just happy to see y’all? What’s dripping, Polkadrops? All this talk about hydration has got me feeling sweaty. Crypto summer is just beginning, and your boy is getting thirsty.

I hope you all are staying hydrated too. Whether you’re replenishing lost electrolytes with Filippo after flexing your hips of steel, enjoying a glass of the good stuff with Gav, or cracking a cold one with the WUDies on Telegram, liquids are the uniting force that bring communities together.

Meanwhile, WagMedia is the uniting force that keeps content flowing like liquid through the Polkadot community. So, let’s take a look at all the juicy stuff our creators have been up to, considering the number of bounties available.

You may remember Giotto’s wish for change to reduce DOT inflation. While the proposal was eventually abandoned, it prompted a serious discussion in the wider community, and may have even influenced an RFC to create a pallet in Polkadot for adjusting inflation.

This led to Bounty 14 for educational content about Polkadot inflation and to help dispel the myth that inflation is inherently bad. The top post (13.5 DOT) by Pablo cut straight to the chase and explained that unlike BTC, DOT is not a store of value, it’s used for securing the network. DOT inflation provides incentives for collators and users to stake, and thus secure the network.

From time to time, our creators are given dogfooding tasks. Real-life engagement with the tech followed with a write-up about the results, making the content more credible, authentic, and informative.

In Bounty 15 creators were given the choice of creating dogfooding content for either NovaWallet or Subwallet to showcase the streamlined user experience of cross-chain transfers, staking, and in-app swaps. As a somewhat easier task, rewards were capped at $70 with an 80% engagement weighting.

Nova Wallet was a popular choice, with all of our creators choosing to write about it. Smdawudeen took the top spot (5 DOT) with a thread that nicely balanced text, image, and video.

Bounty 16 asked for a personal take on Polkadot’s April Ecosystem Insights. Mikewill’s victorious (13 DOT) thread highlighted three points: Alice und Bob’s contributions which influenced the Polkadot UX bounty proposal, progress on Agile Coretime and Async Backing, and how the Decentralized Voices program has added some balance to governance.

Speaking of governance, the topic for Bounty 17 was inspired by this X Space, which discusses the future of Cardano governance and praises Polkadot’s approach. Creators were tasked to write about what OpenGov has achieved and what makes it special.

Gbaci took the prize (21 DOT) with his take on the topic. He highlighted five points of praise that the Cardano community had for Polkadot governance: strong focus on development spends, comparative maturity of the governance system, Decentralized Voices, inclusivity, and the lack of governance incentives.

While the Cardano community was busy praising Polkadot, Gav was out there praising Ethereum at ETH Prague. The fireside chat between Gav and Vitalik was their first public meeting since Ethereum Singapore 2019, and in Bounty 18, WagMedia creators were given the opportunity to share their thoughts.

Gbaci stole the show again (22.3 DOT) delivering a long-form tweet that covered the 5 main topics of the chat. A special mention (14 DOT) goes to Pitcoin who effectively incorporated video clips and key soundbites in his thread.

Bounty 19 kept the ETH Prague buzz alive with a meme challenge on Gav and Vitalik’s meeting. To no-one's surprise, Turing Machine took the crown (7.1 DOT) with an Indiana Jones inspired cinematic treat. Pitcoin hit us right in the feels (5 DOT) with a heartfelt Gav and Vit montage set to Wiz Khalifa’s See You Again.

Of course, 7.1 DOT seems like chump change when you see how hard Turing Machine wiped the field in May’s General Content Retroactive reward. Proving that memes can be valued just as much as written content, The Gavliatorearned him a massive 50 DOT.

In the meantime, thehodlfather was dominating the Non-Anglo Original channel. His Spanish thread on Kusama’s new People Chain, and another about Mythos Chain netted 6 DOT each.

Treasury bounty partnerships are a great outlet for upcoming projects to get their name out there. The most recent partner to link-up with WagMedia is the regulatory-compliant decentralized funding platform Polimec.

In the first Polimec bounty, creators were tasked with persuading the reader of the value of Polimec and Apillon, the first project to be launched on their platform. In addition, they were asked to dogfood the Deloitte KYC process required by all funding participants.

The two standout pieces came from MaximV and Daureen, who received 150 PLMC each. Mikewill´s thread was also strongly commended (140 PLMC), but could have been improved with a little more dogfooding.

May also saw the initiation of our new OpenGov and Data Reporting channels. The first round of rewards have just started trickling in with yay.oi (it’s me!) receiving 8 DOT for coverage of Sports Sponsorship Referendum 644, and Data reporter CMosh taking home 10 DOT for his report on DOT treasury spends and burns.

The reporting channels might not suit everyone, as they focus on rapid analysis and investigation, including the examination of on-chain activity. If you'd like to get involved with the reporting channels, make sure you register your interest.

There’s probably not enough time for Bounty 20 “Mythical x Pudgy Penguins”, which closes on June 11th with rewards of up to 25 DOT. There’s been quite a bit of interest in Bounty 20, unlike Bounty 21 where you can earn up to 7 DOT in Bounty 21 for dogfooding kukabi’s “followtheDOT” tool, which also closes on June 11th.

It’s not uncommon to see some bounties only last for a short period because the timing of engagement is everything. For instance, Answer Erika’s question “Why Polkadot x Adidas’’ in Bounty 23 needed to be in by June 11th too.

Do not despair if you didn’t make it in time. Bounty 22, which covers the “Wish for Change” track following the outcome of defining Polkadot 2.0, can earn you up to 10 DOT and is open till June 13th. If you need more time then you can consider Bounty 24, which offers up to 14 DOT for exploring the new “Heroic x Polkadot” e-gaming team sponsorship and closes on June 20th.

There will be plenty more bounties opening soon, so keep an eye out on the WagMedia socials for announcements. It’s probably advisable to get acquainted with our website and Discord to gain a better understanding. Collectively, we can all do our part to define quality Polkadot ecosystem content together!

General News

Written by yay.oi

• If you’ve already got your Deloitte KYC Credential, head over to the Polimec dispenser for some free PLMC tokens.
• With the conclusion of the beta program, Talisman Quests has officially launched. You can earn XP by holding, staking and fulfilling tasks.
• The first 5,000 participants in the Litentry Identity Gala Season 2 share a 25K LIT airdrop.
• Oak Network has rebranded to Ava Protocol, and OAK token now uses the AP ticker. As part of their multichain vision, Ava will be launching on Ethereum’s EigenLayer in addition to their planned Polkadot parachain.
• There’s still time to participate in the Ava Protocol Airlyft campaign for a chance to win 25 prizes of USDT 10.
• Applications are open for the closed beta of the AutoGreenCharge app powered by Energy Web. Users will be able to use the app to verify that their EV charges come from renewable sources.
• You can now send USDT on Telegram without needing any DOT for fees thanks to Novasama’s Telenova Polkadot wallet for Telegram.
• NovaWallet has smashed through the 10M milestone for DOT staking with 14,000 users staking in just 260 days.
• Check out Astar’s article for a rundown on their approach to dynamic staking and how they’ve enhanced transparency, user experience, and accuracy of reward distributions.
• Bulk coretime sales on Kusama are booming according to core time marketplace Region X. The starting price for core time has risen from 25 KSM to 115.45 KSM with new pricing adjustments expected soon.
• Unnamed Crowdloan #3375 received 9 contributions totalling 222 DOT to win Polkadot Auction #71.
• The Web3 Foundation’s latest Decentralized Futures grant recipient is Accelerate Polkadot, a community-driven educational organization that aims to provide comprehensive, goal-oriented guides for developers.
• Take a look at the latest enhancements to Tanssi’s Dancebox testnet, which include pay-as-you-go block production, token management, and cross chain communications.
• With Phala entering its fifth halving period, Worker Rewards have been reduced by 25%.
• If you have any questions about the halving, don’t worry, Phala’s got you covered. Community support is now enhanced with AwesomeQA’s AI chatbot technology on the Phala Discord and website.

NFT & DEFI News

Written by Dodow

• OpenMark, an NFT marketplace appchain built on Tanssi, has announced some updates which include enhancements, and a roadmap.
• Bitmart Exchange announces an upcoming new listing for DED.
• PINK is introducing a new lotto app where you can win more PINK. The no-loss lottery is developed by Lucky with a Astar Degens partnership. It’s on Astar Network and leverages Phala tech and Apillon tooling.
• Ready for a great dance, as the Great Escape’s chain on Tanssi is complete.
• Heal3,a gamified health dApp, is the first to receive the TGE Catalyst grant from Astar. Qualification was due to their imminent token listing on MEXC.
• Get a visual view of the new Youdles roadmap for 2024.
• Polkadot will be prominently featured on team gear, digital displays, and in promotions as e-gaming team Heroic secures a sponsorship deal.
• SFY Labs announces free mint coming soon on Moonbeam.
• Check out Ajuna's latest community call recap. The key takeaway is the Ajun TGE is expected at the end of June and listings are also planned.
• Karura has launched a Playdrop Campaign, offering participants in the Skyball game a chance at a prize pool of 42K KAR tokens.
• There’s been some decent yield on BTC, as Stellaswap has recently boosted the iBTC/wBTC farm.
• The OTP token name has been updated to NEURO on Moonbeam. This now reopens transfers, trading, and LPing on Stellaswap.
• HydraDX rebranding to Hydration has been completed.
• Moonbeam’s native DEX, Stellaswap, has announced Auto-vaults are coming via Beefy Finance integration. This means that V3 LPs can take advantage of Beefy’s revolutionary Cowcentrated liquidity (concentrated liquidity management) to realize automated positions for auto-compounding LPs.

Governance & Events News

Written by yay.oi

• With the passing of OpenGov Wish for Change Referendum 747, Polkadot 2.0 is to be defined as the version of the Polkadot runtime that supports Agile Coretime, Async Backing, and Elastic Scaling.
• The on-chain transition to the second cohort of Decentralized Voices delegates takes place on June 10th 2024.
• Check out the 2024 May Polkadot OpenGov Report by OpenGov.Watch covering topics such as the Chainalysis referenda and the Decentralized Voices delegations.
• In Polkadot OpenGov Medium Spender Referendum 824, AssetX are requesting 73,323.2 DOT to develop a new DEX for Asset Hub assets.
• The Hydration community approves Referendum 152 to ratify the criteria for listing tokens in the Omnipool. If passed, Hydration Referendum 154 launches the Polkadot Hydration campaign on June 10th 2024.
• With the imminent shift from parachain auctions to Coretime sales on Polkadot, Astar has proposed to burn the 5% supply of ASTR (350M) reserved at token genesis for parachain auction rewards. On that note, Astar governance is migrating from the Astar forum to Townhall.
• Voting is open for Integritee Referendum 32 to upgrade the runtime to v520 which includes a new Sidechain Finality model, a TEER XCM connection to the Asset Hub, and enables unpermissioned collators.
• Through the passing of Referendum 827, Xcavate has been reimbursed 400 DOT that were lost due to Polkadot-JS UI issues while they were attempting to join a parachain auction.
• Irina Karagyaur (Energy Web X) and Kristen Shen (Polkaworld) talked Web3 communities, ambassador programs and more on June 4th .
• On 5th June, Tim and Kevin from Litentry held an AMA about their latest reward campaign IdentityHub Season 2: IdentityGala.
• Polkaswap and Cede.store talked about their new partnership for CEX on-ramp integration on 5th June.
• A panel featuring Dakota (Invarch) discussed Chain Abstraction on 6th June on Binance Live.
• SORA hosted Palmatrix to talk about their DeFI and CeFI bridging solutions and latest progress report on 6th June.
• Alireza (NATIX) and Leo (Peaq) joined a panel of DePIN builders on June 6th, hosted by Onchain Foundation.
• The Moonbuilders Open Mic brought together developers from across the Moonbeam ecosystem on 6th June.
• Also on 6th June, Seun (Polytope Labs) and Thomas (Bifrost) discussed how liquid staking is evolving in the multi-chain world.

That is all for this week. If you enjoyed the newsletter, please share it. You can subscribe on Substack to receive an email when next week's edition is ready. And if you're participating in creator staking on Subsocial, you can interact to increase your rewards — perhaps a good two-for-one deal by providing feedback or comments.

Awesome cover art created by Dodow.