The Daily Index — Monday, September 11, 2023 · TLDR Index

MARKETS & BUSINESS

TLDR Crypto

TLDR Crypto

SALES ARE SECURITIES

A US District Court judge chose against ruling on whether the secondary sale of LBRY tokens, LBC, constitutes a security. The ruling may have potentially served as a precedent for an impending decision on the SEC’s case against Ripple. Although the SEC won a summary judgment and initially settled for $22 million, it later requested a $111,000 fine due to LBRY’s dreary financial status.

cointelegraph.com · 2 min

TLDR Crypto

PRIVACY ABSTRACTION WITH AZTEC

Aztec Labs is aiming to be the premier platform for developers wanting to create privacy-centric apps with features like anonymous default, private state read/write functionality, and private smart contract function execution. Instead of leveraging the Ethereum Virtual Machine, Aztec utilizes an encrypted UTXO data structure for greater privacy. Additionally, for developers, it offers an interface that simplifies programming these complex privacy features.

medium.com · 7 min

TLDR Crypto

MULTISWAP, THE NEW STANDARD FOR AMMS

Multiswap, a cutting-edge Automated Market Maker, was introduced by CavalRe. This platform includes novel features, like native multi-token swaps, unified liquidity, and single-sided staking, while solving previous routing and impermanent loss issues. Its ETF-like LP tokens allow for efficient portfolio management. Additionally, Multiswap's trading platform offers improved trade execution and enables users to rebalance their entire cryptocurrency portfolio with one trade.

twitter.com · 2 min

TLDR Crypto

OBSERVATIONS ON FRIENDTECH

This thread goes over a user’s month-long experience with Friend.tech. Describing initial reservations about the platform's commoditized access to people's thoughts and content, the author found merit in Friend.tech’s unique interactive, intimate, and thrilling approach. He expresses positive sentiment towards the platform's innovative creator-trader-fan dynamics, remarkable growth (TVL at $18m), potential mainstream appeal, and efficient user experience.

twitter.com · 5 min

TLDR Crypto

WHAT’S SO SIGNIFICANT ABOUT 33% IN LSTS

This thread dives into why LSTs getting to 33% staking share can lead to disruptions in the network. It discusses how blockchains operate on peer-to-peer consensus systems and the need to account for potentially malicious nodes. The calculation n >= 3f + 1 helps ensure system stability, where n is the number of nodes, and f represents faulty nodes. Essentially, to maintain operational integrity, no party should control more than a third of the stake.

twitter.com · 2 min

TLDR Crypto

‘RAGE QUIT’

Owners of Nouns are opting for a "rage quit," a move reflecting their dissatisfaction with the project. Instead of selling their NFTs on the open market in the middle of a bear market, they are seeking a better price from NounsDAO's Ether token reserve. This step, resulting from newly enacted rules, allows 20% of NFT holders to split from the group and claim their share of the project's 30,620 Ether tokens, worth about $50 million.

coindesk.com · 2 min

TLDR Crypto

BANKRUPTCY

The FTX estate has filed a lawsuit against LayerZero Labs, aiming to reverse a $45M agreement made days before FTX's bankruptcy. The lawsuit claims that several transactions involving equity stakes and tokens were fraudulent due to FTX's insolvency at the time. Additionally, FTX is seeking to reclaim over $40M in withdrawals by LayerZero and its ex-COO before the bankruptcy. The decision seeks to benefit the creditors of the bankrupt estate.

theblock.co · 3 min

TLDR Crypto

ON A BEAR MARKET

In this thread, Punk6529 gives his perspective on bear markets after having gone through several of them. He emphasizes that this is the time to learn and connect with other genuine builders and artists.

twitter.com · 8 min

TLDR Crypto

COINBASE VENTURES' BASE ECOSYSTEM FUND INVESTS IN SIX PROJECTS

Coinbase Ventures invested in six projects from its Base Ecosystem Fund: Avantis, BSX, Onboard, OpenCover, Paragraph, and Truflation.

theblock.co · 1 min

TLDR Crypto

IN 2024 WH RACE

Coinbase CEO Brian Armstrong discusses Base and other potential future projects in this interview with Yahoo Finance. He emphasizes the need for regulatory clarity in the crypto industry and believes crypto will be a significant topic in the 2024 US presidential race.

finance.yahoo.com · 8 min