The Daily Index — Friday, August 25, 2023 · TLDR Index

MARKETS & BUSINESS

TLDR Crypto

TLDR Crypto

MASTERCARD, BINANCE TO END CRYPTO CARD PARTNERSHIP

Mastercard and crypto exchange Binance will terminate their cryptocurrency card programs in Argentina, Brazil, Colombia, and Bahrain from September 22. The cards enabled payments in traditional currencies using cryptocurrency holdings. The termination will not affect Mastercard's other crypto card initiatives. This move comes amidst Binance facing ongoing regulatory challenges, including a US lawsuit for alleged deceptive practices.

reuters.com · 2 min

TLDR Crypto

BEAM INTRODUCES INSTANT PAYOUTS

Beam has launched a product called Instant Payouts. Instant Payouts allows users to send crypto from their cold or hot wallets directly to their debit card and receive funds on the same day. Beam charges a 1% fee, similar to Venmo and CashApp. Instant Payouts is live on Ethereum, Solana, Avalanche, and Polygon.

twitter.com · 1 min

TLDR Crypto

MAPLE BRINGS CASH MANAGEMENT SOLUTION TO SOLANA

Maple Finance is returning to Solana to launch its Cash Management Solution, which could provide DAOs, corporate treasuries, and high-net-worth individuals access to yield backed by US Treasury Bills. The pool will accept deposits of USDC-spl, targeting the current 1-month US Treasury bill rate minus fees, and will not impose additional costs on lenders. Maple Finance's return is just one of many big news items on Solana this week.

maple.finance · 3 min

TLDR Crypto

12 INDUSTRY-SHIFTING INNOVATIONS ON SOLANA FROM THE PAST WEEK

The news cycle on Solana really picked up speed this past week. Highlights include a direct integration with Shopify, a new ChatGPT plugin, the return of treasury management solution Maple, private token swaps with Elusiv, $3 million seed fundraising for collectible content company DRiP, and video call token-gating via Brave. Other notable mentions were the rollout of Solana Sign-In and the launch of the first euro stablecoin on Solana.

twitter.com · 5 min

TLDR Crypto

NEW TORNADO CASH INDICTMENTS SEEM TO RUN COUNTER TO FINCEN GUIDANCE

Roman Storm and Roman Semenov have been charged with allegedly operating an unregistered money transmitting service. The allegations seem unclear as they appear to have functioned as anonymous software providers within FinCEN's guidelines rather than as money transmitters. The case revolves around whether they had "independent control" over funds transmitted. The specifics of whether they controlled the smart contracts remain ambiguous.

coincenter.org · 5 min

TLDR Crypto

OP CLIENT DIVERSITY

Coinbase announced plans to decentralize the Base network, aiming to create a system where no single entity has control. Working alongside the Optimism Collective and OP Labs, Coinbase will implement fault proofs and diverse client software to avoid censorship. Additionally, they will contribute to the OP Stack infrastructure and help form a "security council" for the Superchain to further enhance security and decentralization.

theblock.co · 2 min

TLDR Crypto

A QUICK COMPARISON BETWEEN CHAINLINK’S CCIP AND LAYERZERO

Chainlink’s new CCIP product enables cross-chain trading, lending, and more and has some crossover with LayerZero functionality. This tweet provides a comparison of the two focused on their security models.

twitter.com · 2 min

TLDR Crypto

IS COINBASE’S BASE ON THE RIGHT SIDE OF THE LAW?

Coinbase’s L2 Base has been accused of violating federal laws. This thread breaks down why that’s not the case.

twitter.com · 4 min

TLDR Crypto

RETHINKING TOKEN INCENTIVES FOR CONSUMER ADOPTION

This blog explains why current crypto incentive systems, like token rewards and airdrops, are insufficient for mainstream adoption. It instead suggests that web3 products should draw from Web 2.0 loyalty programs, where incentives are based on higher psychological motivators like status and curiosity.

mirror.xyz · 3 min

TLDR Crypto

ON LSTS AND THE DISCUSSION AROUND STAKING CONCENTRATION

This thread explains why the framing and discussions around the concentration of staking between different protocols is misguided and could be harmful to the space.

twitter.com · 4 min