Protocol Weekly #14

Protocol Weekly is a newsletter to exclusively showcase the progress of Ethereum layer-2 protocols.
A warm welcome to CDx! They’re doing some neat stuff with credit swaps on layer 2. For example, you could insure yourself against an exchange going down or a smart contract being hacked. On a side note, came across this great piece which discusses the state of crypto being sound money, web3 and open finance. I think there’s a misunderstanding that only one can win (sound money vs open finance), instead each will take their own time to win in their respective niches. Ethereum has a leg up in open finance, while not many things come close to being sound money like Bitcoin. Social origins matter just as much as technical specifications too. Anyways, that’s a wrap for this week. Catch you all next week.

From Jake MacDonnell (Head of Growth):

  • CDx has launched our explainer video! Check it out to understand how we’re building a new tokenized asset class.
  • Deployed our reference relayer to testnet and completed relayer swap trading functionality.

One thing we need help with:

  • We are always looking for talented people to join the CDx team in Toronto! Currently hiring for an engineering role here or you can email to learn more!

From Jay Kurahashi-Sofue (Marketing):

  • Since the launch of Spaces, we’ve rolled out five new Spaces for OTC token trading. If you are a team who is looking to launch a customizable OTC trading environment, please contact us at If you’re looking to make OTC trades, you can make trades within our Spaces environment at

One thing we need help with:

We have a few positions open on the engineering team from junior developer to mobile application developers. If you’re interested in what our team is working on at AirSwap, please submit an application in the “Careers” section here.

From Brendan Forster (Head of Growth Operations):

  • Completed development of creditor-driven loans, giving lenders the ability to create open lines of credit at a set of pre-specified requirements, starting with a minimum loan-to-value ratio. You can view the experimental, un-audited repo here.
  • Centrifuge issued a test loan on Dharma. Centrifuge enables businesses to exchange private documents (invoices, purchase orders, company master data, etc.) in a private, verifiable, and secure manner on Ethereum. You can read about their service here.
  • We held our quarterly strategic planning offsite. We came to consensus on an internal 3-month plan :)

One thing we need help with:

  • We’re hiring for a product manager, a talent ops associate, and more. Check out our open positions here.

From Micah Alcorn (Engineering):

One thing we need help with:

Meeting you at Devcon. Reach out and let’s plan to connect in Prague next week.

From Shane Hong (Marketing):

  • CoinGecko, a major cryptocurrency data aggregator site with millions of users worldwide, has integrated KyberWidget, to allow visitors to exchange ERC20 tokens directly on the site.
  • Watch how to use the KyberWidget on CoinGecko here.
  • Kyber and CoinGecko are giving out some cool SWAG to our awesome communities, to both celebrate the KyberWidget integration and as thanks for being supportive! Check out this reddit post to find out how you can win.

One thing we need help with:

Kyber is excited to see how our protocol can be used in different contexts, as well as in conjunction with other protocols. We welcome developers to build with Kyber using convenient tools from our Developer Portal.

From Leila Lin (Associate):

From Kevin Lu (Growth):

  • 8x Protocol is now officially a member of #DeFi!
    8x will be attending the #DeFi Summit — Prague, if you’re going to be around, message us on Telegram and say hi!
  • Improved the UX on our front-end dapps to include loading indicators and fixed miscellaneous bugs.
  • Good progress with pushing out our developer toolset (JS library and payment gateway for merchants).
  • Charitable Autonomous Organization (CAO) built using 8x Protocol and Set has won third place in Set Protocol’s Hackathon at #ETHSanFrancisco.
  • The whitepaper has been revised to add a glossary, remove inconsistencies and enhance coherency.

One thing we need help with:

Looking for businesses and services to integrate our Beta, if you or anyone you know would be interested please contact us (even if you are not a business/service and would love to contribute or experience the consumer end please get in touch) at

Participating Projects:

CDx, AirSwap, Dharma Protocol, Origin Protocol, Kyber Network, Loopring, 8x Protocol.

Updates Not Included This Week:

Set Protocol, Abacus Protocol, Quantstamp, Matic Network, Market Protocol, Codex Protocol, The Graph, Connext Network, Liquidity Network, Enigma, Civic.

Know a protocol that should be part of this list? Drop us an email at