Arweave Ecosystem Weekly Report #12: “Elephant Stampede” Edition 🐘
As one of the biggest movers on major exchanges, Arweave has made its own news this week. A new all-time high for both price and transaction volume is never too surprising these days, but can send the community into a frenzy nonetheless.
In the wider ecosystem, beyond moonchat, everFinance is quietly hacking away at bringing PSTs to Ethereum, KYVE is archiving a new entire blockchain each week, and ArDrive is making a play at rebuilding the library of Alexandria.
And, of course, the elephants are charging.
I. Arweave Network
Arweave token hits all-time high of $91.08
Many in the community believed it was a matter of ‘when’, not ‘if’, but were nonetheless shocked at the velocity of the pump this week that saw $AR hit a new all-time high. Floor discovery mode activated.
Record-breaking daily transaction count: up 30% from previous all-time high
The new price all-time high coincides nicely with a record breaking week for transaction volume. An interesting chart from Amber Group’s report shows the correlation between bundles and weave size:
Open Web Foundry spotlights MyMail and other upcoming Arweave projects
Investor Daniel Cheung shares reasoning on why Arweave is 60x undervalued
Solana bull and recent Arweave convert Daniel Cheung took to Twitter to explain why be believes Arweave is drastically undervalued and “one of the best investments”. As well as the protocol’s strong fundamentals, Cheung theorizes that Arweave – not centralized servers – will be the base storage layer for the upcoming metaverse.
Arweave is well positioned to achieve a $150bn+ valuation over the next 5 years, implying a 60x from current valuations of $2.5bn.
Decentralized storage is the biggest but most overlooked theme right now making $AR possibly one of the best investments.
Let me explain🧵 pic.twitter.com/0pIwsNBUmE
— Daniel Cheung (@HighCoinviction) November 2, 2021
Arweave mascot Winston the elephant takes over Arweave Twitter
Arweave Twitter tapped into some much-needed meme energy this week, with many in the ecosystem adding an elephant emoji to their Twitter usernames to represent the Arweave mascot, Winston – an elephant which never forgets.
So, can we make 🐘s in profiles an #Arweave thing? I feel like the Arweave community needs a bit more meme juice.
— David Whittington 🐘 (@djwhitt) November 1, 2021
— arweave.news 🐘 (@ArweaveNews) November 2, 2021
I've just created an elephant based on combination of blocks. 🥳🥳🥳🐘🐘🐘
— Valuarion 🐘 PERMAWEB = Future of Web (@valuarion) November 3, 2021
Amber Group, crypto financial service provider, publishes Arweave analysis
Hong Kong-founded crypto financial services firm Amber Group has published an analysis of Arweave covering everything from the base protocol and tokenomics to the wider ecosystem. The Medium post gained momentum on Twitter, exposing new investors to the permaweb.
— Amber Group (@ambergroup_io) November 2, 2021
II. Arweave Ecosystem
‘The R-Archive’ preserves high-risk documents from the Rohingya people on Arweave
Datarella has announced the R-Archive, a”digital heritage archive to preserve the endangered legacy of the stateless Rohingya people”. Using Arweave, the archive will preserve documents in danger of being lost or destroyed by oppressive governments, especially given the geographically fragmented nature of the culture.
— Philipp Kothe 💎 (@philkk777) October 28, 2021
KYVE goes live with the Cosmos pool
Cosmos joins Avalanche and Moonriver as the latest blockchain to be archived by KYVE uploaders and validators. When we spoke with KYVE recently in our article about layer 0, John Letey revealed plans for a phased rollout of one new chain per week. Working with the Cosmos chain means archiving transactions from BNB, LUNA and ATOM, since they leverage the technology.
🎉Thrilled to announce the third available pool!
💻Starting from today, you can participate as a validator in the @cosmos pool!
— KYVE (@KYVENetwork) November 3, 2021
everFinance demos the first cross-chain PSTs
This week everFinance teased a screenshot from an in-development version of everPay demonstrating a bridge between Arweave’s profit-sharing token (PSTs) ecosystem and Ethereum. The bridge will allow PSTs to be traded on a much wider set of applications.
— everFinance (@FinanceEver) November 1, 2021
ArGo offers $ARGO tokens in return for app feedback
To power the ArGo onboarding experience, the team has published a form to collect feedback on the app. The first 100 submissions are entitled to $10 worth of $ARGO:
Hey Argonauts 👋
We are creating an #ArGoApp interactive tutorial & would love to find out what difficulties you had with our platform and what you would like us to address in the education material 🤔
— ArGoApp (@argoapplive) November 2, 2021
The Permaweb Pioneers podcast publishes its first episode
Permaweb Pioneers, a podcast hosted by Only Arweave, has published its first episode this week. The episode features Richard Caetano of Akord and covers the product vision, founding story, and upcoming roadmap of features.
The first Permaweb Pioneers episode is live!
🎧Listen here: https://t.co/DA3u2QGvKB
A 🧵of key takeaways 👇
— Only Arweave 🐘 (@onlyarweave) October 29, 2021
ArDrive launches first bounty for food-related public drives
In an effort to enrich the permaweb one theme at a time, ArDrive has launched a $3 AR bounty for the best food-related public drive with original content. Entries are accepted until the 13th of November, and many more interesting bounties are expected in the future.
Arweave holds 25TB+ of data & finding quality information can be like searching for a needle in a haystack.
We're putting up 3 $AR & launching a Public Drive Bounty to rebuild the Library of Alexandria!
TL;DR – https://t.co/2AoSyEN0iw
— ArDrive 🐘 (@ardriveapp) November 1, 2021
Dune Analytics x OurNetwork hosts online course videos on Glass via Mirror
After finalizing the 30 accepted students, a new 30-day online course on the topic of web3 data analysis has gone live on OurNetwork’s Mirror publication with embedded videos hosted on Glass. In this case, both the written and visual content are permanently stored on Arweave, ensuring the course content lasts forever. The first week of videos is available to watch here.