Liminal Newsletter: September Edition

Hello,

September, usually infamous for its slow and steady market movement, saw rather polarising actions; where, on the one hand, we saw a few wide-scale adoption integrations happening between Web2 and Web3 products and on the other hand, the valuation of a particular asset class fell to its lowest possible valuation rendering. We also saw an increased vulnerability for institutions towards improved crypto exposure subjected to hesitation in their operations.?

Moving towards the Liminal’s advancements, in the past month, we closed on a few quite interesting integrations, added support for a new chain, held our first-ever internal hackathon, and, of course, went to the most exciting events in Web3 to showcase what’s brewing at Liminal and how we are bursting at the scene of digital asset custody.?

Visa Boosts Cross-Border Payments with Solana?

Visa teams up with Solana, USDC stablecoin, Worldpay, and Nuvei to accelerate cross-border transactions. They've utilized Solana and Ethereum blockchains to settle payments in traditional fiat currencies securely, all authorized through VisaNet. This marks a significant step towards cryptocurrency integration.

Grayscale Emerged Victorious Against SEC

Grayscale Investments secured a victory against the SEC in a lawsuit over the conversion of its Bitcoin Trust to a spot Bitcoin ETF. The Court of Appeals ruling on August 29, 2023, favoured Grayscale, stating that the SEC's rejection was arbitrary and discriminated against spot Bitcoin ETF issuers. This decision marks a crucial win for Grayscale Investments.

95% Of NFTs Are Worthless, Shows Report

A recent report reveals that the majority of NFTs have little to no value. Data from NFT Scan and CoinMarketCap shows that 95% of NFT collections, or 23 million people, hold investments with a market cap of 0 Ether. This comes after the NFT craze attracted celebrities and artists with a rush to buy collections like Bored Ape Yacht Club and Matrix avatars nearly two years ago.

Regulated exchanges hesitate on crypto exposure despite growing demand

Regulated exchanges are hesitant to offer unregulated cryptocurrency products despite growing demand. A report from the World Federation of Exchanges, based on a survey of 29 regulated exchanges, shows increasing interest in crypto assets like Bitcoin. However, concerns about significant risks are leading to caution. While 40% of respondents already offer some crypto-related products, 41% without current offerings plan to introduce them in the future.

Alright now, it's time to take a break from the news around the world and give you a sneak peek into what has happened at Liminal over the past month.

Earn 7.15% APY by Staking Solana on Liminal

We expanded our recently launched Institutional Staking service by adding Solana, a mainstream layer-2 chain, to add wide support for our clients and partners looking to unlock their Solana treasury and earn passively by securing their assets at full capacity.?

?? Staking Rewards Rate: 7.15%

? Reward Frequency: Per Epoch (2 days)

? Unbonding Period: Per Epoch (2-6 Days)

? Slashing Penalties Enabled: No

?? Inflation/Deflation: 8% Inflation, deflating 15% yearly

?? Auto-compounding: Rewards are automatically re-staked

?? Validator: Figment

BASE & Chain Support, Message Signing SDK and Fantom ERC20 Added In New Update?

Riding on the narrative of building an interoperable wallet and custody infrastructure solution, enabling a faster signing experience for users, extending new chain token support and adding new security parameters for bug fixes, we released a new update to strengthen our infrastructure further.?

?? Transaction Fee Insights: Get alerts for UTXO transactions with insufficient funds for fees, ensuring awareness.

?? Message Signing via SDK: Enhance transaction security with seamless message signing using our SDK.

?? BASE Protocol Support: Effortlessly handle Base assets with complete protocol support.

?? Fantom ERC20 Support: Easily manage Fantom ERC20 tokens, diversifying your digital asset portfolio.

?? IP Address Binding on API Tokens: Bolster security with IP address binding for API tokens.

Team Liminal Was At Token2049 & DeCompute

In a whirlwind month of prominent Web3 events in Southeast Asia, we made a significant mark at Token2049 and DeCompute. Token2049 was a grand gathering of Crypto Leaders, setting the stage for our emergence as a custody powerhouse. Meanwhile, at DeCompute, an event centered around decentralized security, our co-founder Mahin Gupta engaged in a panel discussion on crafting secure and user-friendly digital asset solutions. This insightful conversation included representatives from Zengo, DFNS, Atato, and Silence Laboratories.

Liminal Is The Hackathon Partner At CoinDCX Unfold 2023

We are stoked to announce that we will be attending India’s most anticipated Web3 event, Unfold, hosted by CoinDCX, as a hackathon partner. Taking place from October 19th to 21st in Bengaluru, it's set to be a dynamic platform for innovation and collaboration. If you're attending Unfold this year, join us for discussions on secure custody and cutting-edge wallet infrastructure solutions for your institution. Don't miss out on this exceptional opportunity!

Liminal Launched An E-Book On CCS Guide In Collaboration With Confide

We're excited to introduce an ebook co-authored by our Senior VP of Strategy & Business Operations, Manan Vora, and the accomplished Marc Krisjanous, Senior Security Consultant at Confide Limited. This ebook is a vital guide to safeguarding your digital assets in the rapidly changing digital landscape. Tailored for CISOs and IT security professionals, it's designed to prepare you for a successful CCSS audit. Elevate your digital asset security and gain valuable CCSS implementation insights with this comprehensive resource.?

Download CCSS Guide

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