The Solana blockchain has been integrated with the Discord messaging service to allow its users to link their Web3 identity across different platforms and services. This and more news is in this handy daily digest so you're always up to date with the latest developments in the crypto world.
Discord adds support for Solana network
📍Instant messaging service Discord has integrated the Solana blockchain to power Web3 identity. On Twitter, Solana developers announced that their blockchain has been integrated with the Discord messaging service to allow users to link and authenticate with their Solana wallets on the platform, as well as enabling linked role features on Discord.
The Solana integration is part of Discord’s Connections experience, which seeks to expand the functionality that the platform offers its users.
Solana address holders can display their wallet addresses alongside their profiles and usernames for other accounts like Spotify, thus integrating their Web3 identity with Web2 platforms. Solana’s Discord integration also allows server administrators to create roles and entry channels based on a Solana wallet’s metadata, such as holdings, number of transactions, or wallet age, Solana said.
On the other hand, the head of communications for the Solana Foundation, Austin Federa, clarified on Twitter that Solana users are not importing their wallets into the Discord server, but rather signing to prove that they control the wallet. Federa added that he is excited to see what the Solana community will build on Discord in the future.
Arkansas offers low electricity rates to crypto miners
📍Entergy Corporation, the largest electric utility in the state of Arkansas (United States), attracts cryptocurrency miners with low prices. According to Arkansas Business, cryptocurrency miners can enjoy low electricity rates in the state.
Arkansas' largest energy company, Entergy Corporation, is offering crypto miners special rates per kilowatt-hour of consumption.
A utility spokesman said rates range from three-quarters of a cent to a little more than a cent per kilowatt-hour. The cost of electricity varies based on actual demand, load factor and other optional services, and it is up to the utility to assess whether customers qualify for the low rates, the spokesman said.
According to the outlet, crypto mining companies, such as Cryptic Farms, are spreading across the state, operating Four data centers in Arkansas this year.
USDD loses parity with the US dollar
📍Tron's algorithmic stablecoin USDD loses its peg to the dollar. At the time of writing, USDD is showing a value of $0,973 per unit on the market. According to data from CoinMarketCap, the price of USDD dropped to $0,969 on Monday.
Tron founder and CEO Justin Sun announced on Twitter that he is deploying more capital to defend the peg of his algorithmic stablecoin. According to the Transactions He shared that over $770.000 worth of stablecoins USDC and USDT have been exchanged for algorithmic stablecoin USDD, using DEXs like Uniswap and Curve Finance.
Sun tweeted the same words that Terra founder Do Kwon had posted on his Twitter account in May, days before the collapse of his algorithmic stablecoin UST.
Waves’ USDN stablecoin is also trading below $0,79. CoinMarketCap shows the stablecoin’s value at $XNUMX at the time of writing.
Analysts at the cryptocurrency price monitoring platform noted that USDD and USDN are bearing the brunt of the cryptocurrency crash, accelerated by the recent collapse of FTX.
Champ Medici Arts Fund, a new fund for Web3 artists
📍Tezos and Cordell Broadus, son of Snoop Dogg, launch fund to support emerging artists in Web3. The new fund, called the Champ Medici Arts Fund, was announced during Art Basel Miami Beach.
Through the Champ Medici Arts Fund, the Tezos Foundation and Broadus will support artists interested in building their works and projects on the Tezos blockchain. The fund has $1 million in funding.
Continue reading: Bitcoin Lightning Network for transactions between Europe and Africa
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