Huntingdon Valley Bank submits a MakerDAO Collateral Onboarding Application.
Reddit seeks senior software engineers for a new NFT platform.
ImmutableX partners with blockchain tech provider Venly.
BlockVision adds support for NFT APIs on Arbitrum.
Huntingdon Valley Bank Submits MakerDAO MIP
Huntingdon Valley Bank, a Pennsylvania Chartered Bank, has submitted a Collateral Onboarding Application to MakerDAO. The Maker Improvement Proposal (MIP) requests a legal structure whereby Huntingdon Valley Bank enters into a Master Purchase Agreement with a trust for the benefit of MakerDAO. The legal structure also has the intention to incorporate more banks in the future.
The bank also requested an initial debt ceiling of $100 million dollars of Huntingdon Valley Bank Participated Loans, to be deployed over 12 to 24 months. If the application is approved by Maker Governance, it will be the first US-based bank to use decentralized finance for collateralizing loans.
Reddit Seeks Engineers For New NFT Platform
Reddit is looking to hire more than ten senior engineers to be part of its new NFT platform team. Duties of the new roles include building components for millions of users to buy, sell and use NFTs, suggesting the company is already in the process of developing a new NFT marketplace.
Among the job listings is a role for Group Product Manager, which is responsible for go-to market plans of the NFT Marketplace. Although the postings do not specify, it is rumored the marketplace will be on Ethereum. Reddit has previously rolled out a community points program on Ethereum’s Rinkeby testnet with plans to migrate the program to Arbitrum.
BlockVision Supports NFT APIs on Arbitrum
BlockVision, a data indexing network for complex queries, now supports NFT APIs on Arbitrum. Application developers can use the APIs to fetch historical data sets for any contract or address, without having to scan the entire chain. BlockVision also supports mainnet, Optimism, and Polygon.
BlockVision’s other development tool kits include NFT marketplace APIs, fungible token APIs, and dapp APIs for Uniswap and Aave. The APIs can be used to perform trend analysis, detect price manipulation, or take raw snapshots. BlockVision raised a $5 million seed round in February to further develop its products.
ImmutableX Partners With Venly
Blockchain tech provider Venly partnered with Immutable X to add the L2 network to its pool of supported protocols. Venly offers APIs and widgets for integrating crypto wallet and NFT products into applications. Venly’s multi-chain wallet has a reported 2 million users.
As part of the partnership, ImmutableX NFTs will be available on the Venly marketplace as well as Venly’s Shopify application for merchants. The company’s Shopify integration currently supports Polygon NFTs and is available to users who are part of Shopify’s NFT beta program.
CEX ETH Reserves Drop To New Lows
Centralized exchanges are experiencing a new multi-month low in ether reserves. According to data from CryptoQuant, less than 25 million ETH is being held in aggregate across all centralized exchanges. Reserves on exchanges have been in a steady decline since August 2020. The low supply could make it easier for whales to manipulate prices, resulting in short-term volatility.