The Daily Index — Friday, June 16, 2023 · TLDR Index

MARKETS & BUSINESS

TLDR Crypto

TLDR Crypto

NETTING $6.2M

Sotheby's capped off its Grails auction of the NFT portfolio seized from the bankrupt crypto hedge fund, 3AC, and the auction brought in over $10.9 million in sales overall. The highlight was Dmitri Cherniak's Ringers #879, ‘The Goose’, which sold for $6.2 million after fees, marking it as the second-highest sale ever for a generative artwork. The multi-part sale of NFTs from 3AC's collection has so far raised nearly $17 million. Most of the pieces were acquired during the NFT bull run of 2021, and the proceeds from their sale are being used to recoup funds following 3AC's bankruptcy.

coindesk.com · 3 min

TLDR Crypto

ARBITRUM'S NEW 'LAYER-3' XAI NETWORK IS BUILT TO POWER WEB3 GAMES

A new layer-3 network called Xai, built on Arbitrum, an Ethereum L2 network, will specifically cater to game creators. Xai promises enhanced scalability, efficiency, and cost reductions, with plans for even lower fees and faster transactions for smoother gaming experiences. Developed in collaboration with Offchain Labs and Ex Populus, Xai aims to provide a more user-friendly platform for token-powered games akin to what ImmutableX is doing with its gaming-centric chain. The first games to launch on the Xai network will be developed by Ex Populus, aiming to attract traditional gamers with a frictionless gaming experience backed by blockchain tech.

decrypt.co · 5 min

TLDR Crypto

AND CASH APP

Block, Jack Dorsey's FinTech firm, will integrate its upcoming self-custody bitcoin wallet, Bitkey, with its financial services platform, Cashapp, and US's largest cryptocurrency exchange, Coinbase. Bitkey, a multi-sig hardware wallet with a mobile app, is scheduled for a global launch later this year after a few weeks of public beta testing. These integrations will allow Bitkey users to directly purchase and sell bitcoin via both platforms from within the wallet app.

coindesk.com · 2 min

TLDR Crypto

UNISWAP V4’S NEW HOOKS FEATURE

Uniswap v4 is introducing a new feature called hooks, which operate like plugins and allow developers to introduce code at specific points in a pool's lifecycle, such as before or after a swap. This feature allows developers to enhance Uniswap’s liquidity and security with custom features. Uniswap has shared sample hooks in hopes to spark ideas for a variety of use cases. Some proposed ideas include time-weighted average market makers, customized on-chain oracles, on-chain limit orders, dynamic fees, internalized MEV, and automatic LP fee compounding.

threadreaderapp.com · 2 min

TLDR Crypto

THE VALUE PROP CRYPTO USE CASE DATABASE

"The Value Prop" is a new database from the Polygon team that showcases diverse blockchain applications across sectors like education, governance, finance, social impact, security, and more. The aim is to highlight the significant positive impacts that blockchain technology can have and is having globally. The database includes use cases from a variety of different blockchains, demonstrating the wide-ranging utility of blockchain and cryptocurrency technology. It’s a great way to see the broad set of use cases that are already being tackled and to help generate ideas for new use cases.

thevalueprop.io · 4 min

TLDR Crypto

TETHER ON FOIL AND CONTINUED COMMITMENT TO TRANSPARENCY

Tether, the company behind USDT, has fulfilled its obligation to the New York Attorney General’s Office by reporting about its reserves quarterly for two years, as per their 2021 settlement agreement. CoinDesk made a request for public disclosure of these materials and Tether chose to hand them over this week. Around the time these documents were handed off, there was an attack on the USDT CRV pool causing rumors and concerns to start flying about USDT and its solvency. In this blog post, Tether claims there is no reason for concern and questions the coincidental timing of these two events.

tether.to · 3 min

TLDR Crypto

WHEN THE US ZIGS ON CRYPTO, CHINA ZAGS

This thread attempts to explain China’s strategy when it “banned” crypto in 2021 and its recent embrace of the crypto ecosystem through new regulations in Hong Kong. The piece also suggests that US attempts to curb the crypto industry could drive other nations, particularly geopolitical rivals, to adopt it more rapidly. It further criticizes major banks for being hesitant to embrace cryptocurrency and alleges that regulators and politicians tolerate money laundering in large banks as part of a political game.

threadreaderapp.com · 4 min

TLDR Crypto

THIS WEEK’S WEEKLY ALPHA

This thread provides a great bullet-point summary of the top events of the week in crypto and highlights important governance proposals, news, and tweets along with next week’s alpha.

threadreaderapp.com · 5 min

TLDR Crypto

ETHEREUM STAKED READY TO FLIP ETH ON CRYPTO EXCHANGES

The volume of ETH staked has been rising and is expected to surpass ETH held on exchanges soon, highlighting a trend towards decentralization.

blockworks.co · 3 min

TLDR Crypto

FROM US AND SOUTH KOREAN PROSECUTORS

Do Kwon and associate Han Chang-Joon are facing more time in jail in Montenegro, with potential extradition to South Korea and the US on the table. Charged over a $60 billion fraud related to the collapse of Terra and detained for allegedly falsifying identification documents, they remain incarcerated in Montenegro despite bail being granted.

dlnews.com · 2 min

TLDR Crypto

CASCADING NETWORK EFFECTS ON ETHEREUM’S FINALITY

In May, Ethereum experienced network disruptions due to consensus layer clients processing old attestations, causing CPU resource depletion and transaction delays. The disruptions had minimal impact on users' transaction experiences in terms of cost and inclusion time despite affecting peer-to-peer networks and increasing missed duties.

ethresear.ch · 11 min