Welcome to the 8th edition of the Techemynt fortnightly newsletter. Happy Merge week subscribers! The Ethereum foundation states that the Merge will be ‘the most significant upgrade in the history of Ethereum.’ The biggest compliment we can give Ethereum developers is that the upgrade was implemented quietly without many noticing much of a difference with how the networks DeFi and NFT ecosystem operated.
The merge will not make Ethereum faster or cheaper, this is not a change to how gas works. It is a change of consensus. A change from securing the network with Proof-of-Work (PoW) to securing it with Proof-of-Stake (PoS). More info on Techemynt’s perspective on the merge can be found in this thread.
The New Zealand economy grew faster than economists predicted in the 2nd quarter of 2022. According to Stats NZ data released on September 15th, the New Zealand economy grew by 1.7% in the quarter. Higher than the expected 1%. NZ looks like it will avoid a recession as borders re-open allowing Australians and visitors from Visa Waiver countries to enter the country. This may signal a stronger NZD (and NZDS) in the coming months.
Highlights of the last fortnight include:
- The total cumulative NZDS DEX volume crosses US$180 million
- The total transaction count of NZDS on Polygon hits 2,000
- The total transaction volume of NZDS crosses US$200 million on the Ethereum network
The total cumulative DEX volume of NZDS
The total cumulative NZDS DEX volume crosses US$180 million.
The total cumulative decentralised exchange volume of NZDS on the Ethereum and Polygon networks currently sits at US$181,511,595. Ethereum is growing in popularity as an onramp for NZD fiat holders who purchase NZDS on Dasset and then transfer it to the Ethereum blockchain. Once they gain custody of their NZDS, holders can participate in forex trading opportunities via the DFX platform or stake their NZDS in pools operated by Curve and Jarvis Finance.
NZDS is currently the 4th most popular asset by AUM on the DFX trading platform behind CAD-C, XSGD, and XIDR.
NZDS DFX volumes on the Ethereum network
NZDS DFX volumes on the Polygon network
The total number of NZDS transaction
The transaction count on NZDS on Polygon hit 2,000.
The total transaction count of NZDS on the Polygon network has just crossed 2000. Polygon is emerging as an excellent, cheaper & faster alternative to transacting on NZDS’s network, Ethereum.
The Polygon (MATIC) network is a blockchain scalability platform that offers tools to improve the speed, costs, complexity, and interconnectedness of existing blockchain platforms. Polygon is currently focused on addressing the limitations of the largest platform blockchain in the world, Ethereum (ETH). NZDS currently utilises Polygon PoS as a layer 2 solution to support Ethereum.
On Polygon, NZDS is available for trading on Curve, DFX, and Uniswap V3.
Total NZDS transaction volume on the Polygon network
The total cumulative volume of NZDS
The total transaction volume of NZDS crosses US$200 million on the Ethereum network.
The volume for NZDS across the blockchain currently sits at US$200 million. Ethereum is the world’s largest smart contract blockchain platform and has recently transitioned from Proof-of-Work to Proof-of-Stake.
Total NZDS transaction volume on the Ethereum network
NZDS Brand