Kerman Kohli
Feb 22 · 6 min read

Protocol Weekly is a newsletter to exclusively showcase the progress of Ethereum layer-2 protocols.

It’s 2019 and looks like the stable coin madness still continues. The major piece of news headlining on Crypto Twitter recently was the announcement of “JPM Coin”. From what we can gather it’s a stable coin built on Quorum, an enterprise version of Ethereum. Reactions seem quite polarised across the board. While it isn’t really a cryptocurrency, I still think it’s a great move in the right direction as we have more entities transitioning into crypto.

One thing that strikes me as an interesting take is using privacy protocols such as AZTEC with regulated stable coins. Take for example, USDC, deposited to the AZTEC vault. Since ownerships are hidden, Circle/Coinbase would have to lock coins in that specific contract or add provisions to blacklist it altogether. The latter doesn’t pose much of a problem, however the former does. If there’s 100 USDC locked up inside the contracts and 20 USDC is blacklisted, does it then mean the funds are first-come-first serve for redemption?


From Shane:

  • Kyber integrated Uniswap Exchange as a Reserve, to offer even more competitive rates for DAI and MKR tokens. These tokens can be traded on Kyber-integrated platforms including MyEtherWallet (MEW), imToken, and
  • Hodlmoon’s integration of the Kyber WooCommerce plugin, first announced 2 months ago, is now live. Customers can use 70+ ERC20 tokens on the online store to buy crypto-themed sweaters and other merchandise. To celebrate, Kyber is giving away 5 Kyber Ugly Sweaters. Stand a chance to win by sharing about which projects should integrate Kyber.
  • (Ethereum Community Conference) integrated the KyberWidget to allow people to buy conference tickets using over 70 different tokens. The first 100 tickets purchased with crypto enjoy a 10% discount, courtesy of Kyber and MakerDAO.
Matic Network

From Siddhartha:

  • Current test-net was a single PoA operator run sidechain. Getting ready for the next testnet version to be released shortly, with upgraded Plasma contracts and a full Proof-of-Stake implementation built on customized Tendermint code.
  • Plasma contracts support ERC20 and ERC721 transfers, along with `beforeTransfer` hooks for custom transfer restrictions on the sidechain. This enables devs to implement stuff such as transfer assets only to approved recipients, or only approved senders can transfer — among a whole lot of other custom restrictions.
  • Stake Manager (PoS contract on mainchain) and PoS chain are integrated now to enable staking and validation of blocks on sidechain. These will be released on the test-net shortly.
  • Our Plasma Wallet implementation is close to a beta release now, and is working excellently in internal tests. Squashing some bugs, and adding some on-boarding hooks is our next target, post which we will release it.
  • Tokenized PoS slots have also been coded in the Stake Manager smart contract . This enables stakers in our PoS implementation to sell their slots for gaining liquidity, while still preserving the staked amount in the contract.
  • Better block explorer for the Matic Network being integrated — instead of re-inventing the wheel, we are using POA’s excellent Blockscout block explorer for this purpose

From Jay:

  • For the week of February 11, MakerDAO and OmiseGo led the pack with the most popular tokens traded on AirSwap being $DAI, $MKR, and $OMG. The rest of the stats from our “This Week on AirSwap” can be viewed here.
  • AirSwap is co-hosting the Fluidity Summit on May 9th in Brooklyn. Join our team and the companies that are building the future of tokenization and decentralized trade. Early bird tickets available here.
Set Protocol

From Inje:

  • We are gearing up for our launch in the coming months that allows you to automatically manage your crypto portfolio by simply holding a Set token. If you’d like to see the early access beta and test it out, feel free to message me at @injeyeo on Telegram.
  • Our team is continuing to make progress on our 3rd and final smart contract audit by Chain Security. No critical bugs were found so far.
  • We’re researching a Fortmatic integration as we gear up for launch to give users an easy alternative to using Metamask.
  • If you’d like to get notified once our new product launch happens, we have an email form here for you to sign up: (edited)

One thing we need help with:

If you’re interested in what our team is working on at AirSwap, please submit an application in the “Careers” section here.


From Leila:

  • Loopring is pleased to release the comprehensive 29 page stablecoins report — — a joint study with PwC. You can read or download the full report here:
  • Loopring collaborates with Sydney-based blockchain community bitfwd to host workshops, build open source tools, and help advance decentralized solutions.
  • We appreciate Ethfinex for listing LRC on their platform and organizing the Loopring AMA on the Ethfinex Telegram on Thursday, Feb 14th, 2019.
  • Loopring(LRC) is now listed on Bitcratic, supporting the LRC/ETH trading pair.
Market Protocol

From Bass:

  • Implemented user login with MetaMask & backend APIs
  • Completed returning user home page and dashboard designs
  • Continued work on MPX API endpoints
  • MPX 0x order book is now functional
  • Implemented base design layout for our user dashboard
  • Fixed bug that was preventing response when deploying a contract

All Our Projects:

Parity, Loopring, Matic Network, Civic, The Graph, Origin Protocol, AirSwap, Kyber Network, Wanchain, Aion, ICON, CDx, Abacus Protocol, Enigma, Set Protocol, Codex Protocol, Colony, The Graph, POA Network, Quantstamp, Connext Network, Dharma Protocol, Paradigm, Market Protocol, Liquidity Network.

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

Helis Network

DeFi made Simple.

Kerman Kohli

Written by

Founder Helis Network

Helis Network

DeFi made Simple.

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