Ethereum “Moon Mission” Next WEEK!? Big News Is Coming…

Have you noticed anything lately!? Especially if you’ve gone to swap or transact
on the Ethereum mainnet!? Gas prices are rid…a dick, a dick, a dick…a
lous! Who can afford 300 dollars per trade on Uniswap!? A crypto whale and that’s about it…the
retail is being bullied out of the Ethereum mainnet! Is there help on the way for the average trader?? Find out in just over 10 minuetes…because
it’s time for Chico Crypto! Yeah Gas prices, they got crazy for a second! They have since “calmed down” if you can
call that calm.

The average cost of an ETH transfer was nearly
19 dollars yesterday. An erc20 approval is running you 40 buckeroos
& a uniswap trade is only 114 dollars and 50 cents. Unsustainable to say the least, especially
when you have the creator of the platform saying this about Bitcoin and it’s fees,
back in the bull run of 2014…. Soooo, where do you need to go, to see what
needs to be fixed quickly to alleviate gas pressure? Well luckily there’s the Ethereum Gas station…which
shows you the TOP contracts and gas burners! Number 1 gas guzzler is the uniswap v2 contract,
making up over 27 percent of gas transactions. The next biggest guzzler is the stablecoin
USDT, taking up just over 9 percent of the gas.

These two contracts combined, make up over
37 percent of the gas alone…. Is anything being down to alleviate this? Well actually the 3rd highest contract, with
3.64 percent of the transactions is helping the gas prices…with Uniswap! That is the Uniswap v3 contract….. So how is this helping gas prices? Well…as we can see v3’s volume was over
544 million yesterday. As we can see, Uniswap v2 did over 2.3 billion. So v3 did 23 percent of its volume. 3.64 percent of gas from v3, compared with
27.72 percent from v2.

That’s only using 13 percent in comparison. Uniswap was able to do 23 percent of v2s volume,
while only using 13 percent of the GAS. Uniswap v3 is more capital efficient, thus
more GAS efficient too and it’s being shown in the stats…. Although, if Uniswap v3 did do comparable
volume to v2, of over 2.3 billion, it would still be using nearly 15 percent of all GAS
on Ethereum…more needs to be done obviously! And even the founder of the swapping protocol,
Hayden Adams knows it. He tweeted yesterday “How badly do we need
Etheruem L2s? Today Uniswap users ALONE spent about $42m
on Ethereum gas fees.This is almost 5x what was spent on Bitcoin network fees during the
same period” Yeah badly something needs to be done…Is
something being done!? Well founder Hayden talked about L2s. 2nd
Layers. Like what Uniswap has stated many times, their
chosen Layer is….the Optimistic Rollup, from Optimism PBC! Which, I have always been confused by, as
the Rollup architecture is very similar to Plasma, in there is a waiting period for Fraud
Proofs, thus fast and efficient exits from the second layer weren’t possible.

For an exchange, fast exits are freaking critical!! Which was kind of solved…not by the Optimism
team, but by the MakerDAO team. Developer from the Maker team posted about
it in early March. Sam Macpherson said “The MakerDAO community
is excited to announce the Optimism Dai Bridge which solves the 1 week withdrawal problem
for optimistic rollups.” And he dived into how it worked! How did it work? Well he is the architecture…but in simple
explanation.. by using MakerDAO oracles as an external validator set for validation! Wait wait what? Oracles for fast exits from Layer 2 for the
Maker protocol using their oracles?? So isn’t this just what the kids call SUS!? Suspicious…just yesterday, in the Uniswap
governance forum, Vitalik Buterin posted calling for UNI to become an Oracle token!!!! ANd in his summary of why he said “More
broadly, Ethereum L1 needs to remain governance-minimalist, but L2 should be more ambitious, and UNI can
be part of that” This all has to do with Optimism, the chosen
Layer 2….and fast withdrawals for the Uniswap exchange! Ambitious plans are set in motion….but that
motion isn’t here! Who knows how long it’s going to be until
that oracle system is deployed!? What can you do about the Ethereum gas prices
today!? Right now…Well before we get into that it’s
time for a sponsored segment of this video, supported by the team over at Lisk, and like
always the full details of our agreement are below! So what exactly is LISK? Wel going to their newly revamped website…l
they consider themselves the blockchain application platform for the masses.

With Lisk application development, there is
no need to learn new languages, everything is written in JavaScript and TypeScript and
the modular design of the SDK enables many blockchain technology use-case. This includes many applications, and their
code already deployed for developers to mirror. A ticketing platform, stablecoin, a DAO, a
reward system for multiplayer games, and messenger through IPFS, and even some side chains for
the verification of attendees of events, and even websites! But why did I focus on those sidechains??? Well they are going to be unlocked to their
full potential here soon!! Lisk has a big event coming next week, beginning
the 21st of May. Lisk.js, their annual developer event, is
setting the stage for the major reveal of Lisk's Interoperability solution…and as
we can see from the topics, it has a lot to do with the lifecycle of a sidechain and what
they call cross chain certifications! At this event, they are going to reveal how
these solutions exactly work, going deep especially on Day 2.

But they have hinted at what is coming from
Lisk interoperability. February of this year, they posted this Blog
“Introduction to Blockchain Interoperability”…diving into the different solutions, but showing
a hint of their BIG innovation. Cross-Chain Certifications…. Then the next month in March, they dropped
more hints, and a more technical post diving into high level architecture of their solution,
and from the blog it says “ Our interoperability solution is based on the paradigm of cross-chain
certification with how it works below. If you want to dive into those details, and
get prepared for the full reveal? That blog in the description! But then they give the properties of this
solution.

It’s scalable, no bounds on side chains…it
is flexible and fast with the cross chain transactions, and of course it’s secure! So, if you're a developer, or even just a
blockchain user, Lisk’s ecosystem is one of the bigger out there. They have over 250 nodes, all fighting for
the 101 delegate spots, as their main blockchain uses delegated proof of stake DPOS.

It’s one of the most robust DPOS chains
out there too, They have over 250k users using it…which means people like me and you! So, if any that fits your blockchain fancy,
developer, user, node runners alike… the links for everything LISK are below!! Now back to Ethereum, and it’s gas crisis…and
what can be done to sidestep it…… Everyone knows about Flashbots! It’s the technology stack, that is sidestepping
the memepool, and allowing transactions to go directly to the miners.

It’s been hailed as a gas saving solution…and
it is, but unfortunately, this can be used for good and bad. Xtoken, who I covered when Hayden did Big
Eyes, at them for their Uniswap v3 product back in late March….got exploited! They tweeted about 2 of their contracts being
exploited and LP poosl for them being drained. Well a Frank the researcher, Igor covered
exactly what happened with the exploit, and the last thing he said regarding it was “Interestingly
enough, this time, the attacker used Flashbots and paid 5 ETH to Spark Pool for this tx. Let’s see if Flashbots have any data on
who used their API for this attack.” Now, there is a ton of debate, who should
this fall on.

The xtoken team? The attacker? Flashbots? Well, the attacker just used the Ethereum
protocols, as they were designed…it was flaws in the contracts…. And thegostep, a flashbots researcher posted
this about the attack retweeting Igor “Imagine only giving 5 eth to the miner for a $25 million
MEV opportunity” he called it an MEV opportunity. Yes it's an attack, but these attackers see
it just as an opportunity & thegostep, even got rekted through his own protocol…he tweeted
about it.

So what about the good then? Flashbots being used for not helping attackers,
but sidestepping them! Well there is CowSwap…which is a gas protected
exchange, built in collaboration with Balancer and Gnosis… Although CowSwap is in alpha, use at your
own risk, and only small amounts if you want to try it out! Now, some of you are going to be like, is
this stepping on the toes of alchemist coin and mistX? Well yeah it kind of is, as flashbots is open
source technology, that anyone can use…. But, mistx is going to leave cowswap in the
dust my friends, as the flashbots developer, thegostep is helping work on it…I’m going
with the creator over the copiers! But, I just might be trialing and erroring
cowswap in the meantime, while we wait for the MISTX release… Besides Cowswap, alchemist coin… there is
another project moving on the gaseless trades, and this is the metric exchange! This is a DEX aggregator, that allows gasless
limit orders, no gas paid if your order fills, and they allow if for any trading pair! How do they do this? With KeeperDAO integration…as you can see,
holders of Metric will be able to get a % of the rewards that the keepers from KeeperDAO
are using to arb with! And there looks to be some 0x integration
too….

Well KeeperDAO, co-founder Joey, just had
an AMA. Joey is also part of Volleyfire, one of the
biggest 0x market makers. And question 11 asked is…How does Metric
fit into the 0x and Keeper DAO puzzle? Joey replies “The most immediate benefit
for METRIC and KeeperDAO is the HidingBook integration, where METRIC users gain access
to the limit order reward system, and the Hiding Game gain’s the METRIC userbase. We’re open to deeper partnership discussions
linking the token economics…. Very nice…Cheers I’ll see you next time!.

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