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Gaming project Aavegotchi revealed plans to launch its own blockchain called Gotchichain. The network will leverage Polygon Supernets, which is Polygon’s service that allows projects to create their application-specific chains.

Aavegotchi is a trading game that resembles the Tamagotchi line of toys from the 1990s. Unlike their real-world counterparts, Aavegotchis carry value in the form of staked tokens and wearables, and they can be traded like any other blockchain token.

The team said in a blog on Wednesday that this release allow developers to create Aavegotchi-themed, gaming-based decentralized apps on its dedicated network.

“This partnership will allow us to utilize Polygon’s Supernets technology to create a blockchain optimized for gaming, with faster transaction times, lower gas fees, and superior scalability,” the team noted.

Supernets (previously Polygon Ede) is a Polygon platform that lets teams to create their blockchain networks using a software development kit (SDK). Aavegotchi’s governance token aavegotchi (GHST) will serve as the gas token for all transactions.

All Aavegotchi assets will continue to be minted on the Polygon sidechain but can be bridged over to Gotchichain to be used in gaming apps, the team added. 

The team added that it is targeting an early third quarter of 2023 release for Gotchichain. Aaavegotchi’s team originally launched on the Polygon sidechain in January 2021.

© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

The institutional version of web3 wallet MetaMask today unveiled its staking marketplace as the regulatory perception of proof-of-stake tokens continues to evolve. 

The platform, which will go live on March 27, enables firms looking to delve into staking to access products with standardized terms and conditions for four different staking providers. Those include Kiln, Blockdaemon, Allnodes and ConsenSys Staking. 

“It’s really hard for institutions to decide which provider to go with — the average spent on that is up to twenty hours,” said MetaMask Institutional product lead Johann Bornman in an interview at Kiln’s side event during Paris Blockchain Week. “And you also have this very complex decision to make between different terms and conditions and different features across different staking providers.” 

Those initial partners are set to be expanded over time with liquid staking also trumpeted as a possible addition to the marketplace in the future. 

“I do think that liquid staking tokens have a huge role to play in the future web3,” continued Bornman. “We are very much in mind of how do we start adding liquid staking options for our users.”  

All eyes on staking

The launch comes with staking under the regulatory microscope in the U.S.

Last week, Securities and Exchange Commission Chair Gary Gensler suggested to reporters that tokens using staking protocols could be considered securities under U.S. law. Those comments come off the back of the SEC’s first staking-as-a-service enforcement action — charges which were settled with Kraken last month. 

© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Blockchain payments ecosystem Nimiq is integrating gas-abstracted USDC transactions for Polygon users within its native wallet. The feature makes it easier for users to process stablecoin transactions without having to hold a secondary token for fees.

Seamless USDC transactions

Nimiq Wallet users can now send and receive USDC without requiring Polygon’s native matic cryptocurrency to cover gas fees. Users only need to hold USDC. The wallet’s built-in smart contract automatically converts gas fees from USDC into matic under the hood — significantly reducing friction in using USDC for everyday payments.

Nimiq is one of the first self-custodial wallets to implement Polygon gas-abstracted transactions, combining the simplified crypto experience with Polygon’s low-cost, high network throughput. It’s powered by the open-source Gas Station Network protocol, which enables decentralized-application users to pay blockchain fees in any token.

“We want to make crypto payments accessible to everyone,” Nimiq ambassador Max Burger said, noting: “Adding gas-abstracted USDC transactions to our wallet is a big step towards that goal. New crypto users can get started with USDC instantly, and as they become more knowledgeable, our wallet provides a path to discover the wider world of crypto.”

“We are excited that Nimiq is working on this groundbreaking development on Polygon,” Polygon Labs’ head of DeFi, Hamzah Khan, added. “By offering gas-abstracted USDC transactions, they’re not only streamlining the user experience but also promoting wider adoption of digital assets.”

Atomic swaps

Nimiq also supports atomic swaps between USDC, BTC and its native coin NIM, as well as a map to find merchants accepting cryptocurrency and a point-of-sale solution.

Gas-abstracted USDC transactions are available in Nimiq Wallet’s latest release.

© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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