Web3 Weekly Wonderland | Edition #18 – Dec 2022

Welcome back, Web3 fanatics!

We’re back again with some energising thrills of the Web3 world in the latest edition of the Web3 Weekly Wonderland!

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?The week's Top 10 news from the decentralised world

?The first week of December has seen some buzzing activities:

• Perennial?raised a $12M seed round to fund its DeFi derivatives platform. On the opposite side of the coin,?SushiSwap?decided to divert 100% of its fee revenue to treasury for the next year to address the protocol's deficit problem.
• The NFT market gained traction as?Opera?Crypto Browser teamed up with?Alteon?Launchpad to let beginners in Web3 mint NFTs without usage fees.
• Winamp?has added music NFTs to its desktop players supported by?Ethereum?and?Polygon?in its latest update.
• Keeping the future utility of Web3 in mind,?Flipkart?has partnered with?Polygon?to speed up the adoption of metaverse and web3 in the e-commerce market and set up a centre of excellence in India.?
• Walking the talk,?Telegram?now allows users to open an account without a SIM-linked phone number. Instead, users can log in using blockchain-powered numbers provided by blockchain auction platform?Fragment.
• Chainlink?introduced a new staking feature to increase security and sustainable growth around its oracle services.
• With sustainability in mind,?NEAR Protocol?has partnered with?ESG DAO?to deploy its open, democratic, and credibly neutral ESG rating protocol called OpenESG on the NEAR blockchain.
• Banking in the metaverse got more legit as South Korea's?Shinhan?Bank?launched a metaverse site to provide financial and non-financial services after running a five-day trial earlier this year.?
• Mercurial?has decided to revamp its brand, community and token distribution in response to the toxicity left after the?FTX?collapse.

Web3 Word Of The Week

Bonding Curves:?Bonding curves is a dynamic approach to calculating cryptocurrency values, as they take ecosystem growth into consideration. A bonding curve recognizes that as an ecosystem grows, so does the amount of that ecosystem's token, and subsequently, so does its value.

Don't forget to check out this Web3 delight ?? over the weekend for a peek into the Web3 realm!

• Binance Whitepaper

That's all for now!??

If you're hungry for FinTech insights, check out some of our other work at?WhiteSight .?

Our latest publications include taking a look at the layoff patterns in 2022 in?Winter Is Here For The FinTech Folks ?and exploring Starbucks' embedded finance play in?The Bank with a Bean Licence .

If you're someone who prefers to read think pieces, you will likely love our monthly blog?Fintersections , where our team members analyse the convergence of FinTech with the world.

FinTech research is in the WhiteSight DNA, so if you'd like to get in touch for features, sponsorships, reach, and content marketing services, reach out to us at[email protected] .

And lastly, to stay updated on everything FinTech and Web3, follow us on?LinkedIn ?and?Twitter , and don't be shy to show some ??