Emblem Vault August 2024 Townhall: Key Updates & Future Plans

CryptoStoriesNFT D. S. 30. August 2024

Emblem Vault August 2024 Townhall: Comprehensive review and outlook on upcoming developments 

In August 2024, Emblem Vault held its Townhall meeting, highlighting significant progress and future plans. Here’s a comprehensive overview of the latest developments and what to expect in the coming months.

August 2024 Review

Media Appearances and Team Engagements

August was a notable month for Emblem Vault, marked by several key media appearances and team engagements:

• Emblem Morning Show: The show featured prominent guests such as David Bailey, Arch Network, and others, offering valuable insights and discussions about Emblem Vault.
• Team Appearances: The team appeared on major podcasts and shows including the Built on Bitcoin Show and the CoinGeek Podcast, presenting the latest developments and future vision.

Development Progress

Several significant advancements were achieved in August:

• Legacy Migration: The migration of the Emblem Legacy system is nearing completion.
• Feature Updates: Emblem Markets and Emblem Vision received important updates, with ongoing expansion of Emblem Explorer and improvements to the Emblem Dashboard.
• Partnerships: New partnerships, particularly with Televault and various Layer-2 ecosystems, have been established to further strengthen the platform.

Migration Status

Emblem Legacy Migration Progress

The Emblem Legacy migration is almost complete:

• Completed Migrations: Collections such as Age of Chains and Bitcoin Punks have been successfully migrated.
• Remaining Migrations: Outstanding collections include Fake Rares and Force of Will. About 8,000 Vaults are yet to be migrated.
• Statistics: Approximately 35,000 Vaults have been migrated, with 8,000 still pending. The next steps include supporting Vaulting, Unvaulting, and Jumping for V2 collections.

EmblemMarkets

Trading Activity and Updates

Emblem Markets saw significant trading activity in August:

• Featured Collections: Collections like Rare Pepe and Spells of Genesis achieved high sales in ETH.
• Top Sales: Noteworthy sales included Rare Pepe for 38 ETH and several Emblem Open Vaults for 5 ETH each.
• Platform Updates: Six pull requests were merged in August, focusing on improving UI/UX, the profile page, the search bar, and asset pages.

EmblemVision

Vaulting Activity and Developments

Emblem Vision experienced notable progress in August:

• Vaulting Activity: A total of 771 new Vaults were minted, a 90% increase from the previous month.
• Updates: Development efforts focused on fixing Vaulting and Unvaulting bugs, implementing a bulk minting tool, and simplifying the mint interface. Unvaulting and Jumping fees will be introduced starting September 30, 2024, and the COVAL discount program will be discontinued.

TelevaultXYZ

New Developments and Features

Televault, Emblem’s first native DApp, offers innovative features:

• Development: Created by GrahamBells, Televault enables the conversion of UTXO-based assets into ERC20 tokens.
• Functionality: Users can vault BEL in the Bellscoin collection and receive vBEL, which can then be traded on Ethereum or used in DeFi protocols.

Interoperability Progress

Expanding Emblem Vaults Across Chains

Emblem Vault is working on enhancing interoperability:

• Bitcoin and Ethereum L2s: Support for EVM-based blockchains is being developed for lower gas fees and compatibility with DeFi and NFT protocols.
• Bitcoin and Solana: Integration of SPL and Ordinal standards is underway, with plans to deploy on multiple Bitcoin metaprotocols.
• Emblem 2.0: Features non-custodial Vaults and an open-source Emblem Explorer for instant cross-chain vaulting.

September 2024 Plans

Tasks and Goals

September’s agenda includes:

1. Completing the migration process.
2. Upgrading Emblem Markets.
3. Launching Emblem Vision.
4. Implementing bulk minting features.
5. Introducing Timelock Vaults.
6. Implementing fees for Unvaulting and Jumping.
7. Further development of Televault.
8. Discontinuing the COVAL discount program.

The Expansion Project

Long-Term Vision and Objectives

The Expansion Project, starting in Q4 2024, focuses on:

• Expansion: Extending to leading blockchain ecosystems and introducing innovative cross-chain DeFi and NFT products.
• Decentralization: Comprehensive decentralization of infrastructure, including Timelock Vaults and bulk features.

German Version

Links and sources:

• Emblem Vault
• Emblem Markets
• Emblem Vision
• Emblem Pro
• Emblem Wiki
• Circuits of Value (Coval) Etherscan
• Coval auf Coin Market Cap
• Emblem Vault on X