⛽️ Gas Fee ReimbursementThe recent illicit DDoS attack has temporarily impacted gas fees. Any gas payments >0.001 ETH on Manta Pacific from 9:30 UTC on Jan 18, 2024 (the time of TGE) to 4:30 UTC on Jan 20, 2024 will be reimbursed to users. On January 18, 2024, at 9:30AM UTC, Manta Pacific experienced an illicit DDoS attack that severely impeded access to its RPCs. Manta Network is working with authorities and various legal council to take action as a next step against this illegal attack. Meanwhile, users found themselves in an unusual situation where gas prices were driven up due to massive user interaction from pending transactions during the illicit DDoS attack. As a result, users interacting with the chain saw gas fees significantly higher than normal. Manta Network prides itself on being the first Ethereum L2 on Celestia. By leveraging Celestia DA, users are able to save significantly on gas costs. Over the course of 1 month, the network has saved users an estimated $1m in gas fees. Unfortunately, this incident drove a temporary increase in gas prices that were far from normal. In response, the gas fees from this incident will be reimbursed to the affected users.
Bitcoin ETFs are exchange-traded funds that track the price of the largest cryptocurrency, bitcoin. They allow investors to gain exposure to bitcoin without having to buy or store it directly. Bitcoin ETFs can be traded on traditional stock exchanges, making them accessible and convenient for many investors.
There are two types of bitcoin ETFs: spot and futures. Spot bitcoin ETFs hold actual bitcoins in custody and aim to mirror the spot price of bitcoin. Futures bitcoin ETFs invest in bitcoin futures contracts, which are agreements to buy or sell bitcoin at a specified price and date in the future.
Spot bitcoin ETFs are generally considered to be superior to futures bitcoin ETFs, as they have lower fees, less tracking error, and no rollover costs. However, spot bitcoin ETFs were only approved by the U.S. Securities and Exchange Commission (SEC) in January 2024, after years of rejections and delays. Before that, only futures bitcoin ETFs were available in the U.S., while Canada and some European countries had already launched spot bitcoin ETFs.
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Have you heard of the root network? It’s a new Layer 1 blockchain that aims to be the hub of the open metaverse, where anything can be connected to anything. Let me tell you why I’m excited about this project. 🧵The Root Network is purpose-built for the open metaverse with core, UX and digital content focused protocols that enable seamless user experience and enhanced asset interoperability across different applications, experiences . The Root Network prioritizes user experience and safety with built-in account abstraction and features like its any token gas economy, which allows users to pay transaction fees with any token they own. This makes it easy and safe for new users to join the web3 . The Root Network is also EVM compatible, meaning that any code previously written for Ethereum can run natively on The Root Network. This provides the broadest possible support for smart contracts, DApps and existing Ethereum-based asset collections The Root Network has a unique rewards economy that collects fees from a range of network activities and creates a pool of rewards for anyone participating in the network by validating and nominating. This incentivizes network security and growth The Root Network has an impressive team behind it. It is an open-source community project founded by Futureverse, a global media tech powerhouse with expertise in web3, AI and entertainment. Futureverse has also partnered with Ripple and FLUF World to bootstrap the applications on The Root Network The Root Network is more than just a blockchain. It is a vision for the future of the open metaverse, where creators, companies and communities can conjure their own reality. #rootnetwork