The Daily Index — Thursday, October 12, 2023 · TLDR Index

MARKETS & BUSINESS

TLDR Crypto

TLDR Crypto

JPMORGAN DEBUTS TOKENIZATION PLATFORM, BLACKROCK AMONG KEY CLIENTS

JPMorgan has launched its Tokenized Collateral Network, a blockchain-based application for investors to transfer assets on-chain after depositing collateral backing them. It recently made its first trade with asset management company BlackRock by turning shares of a money market fund into tokens for an over-the-counter trade. The platform is designed to improve transaction efficiency and security and allows quicker collateral movement compared to traditional methods.

cointelegraph.com · 2 min

TLDR Crypto

TOKENIZED DIGITAL COLLECTIBLES ON MAGIC EDEN

Magic Eden is launching a new digital collectible experience featuring tokenized Pokemon cards. These cards, which will be dropped next week, are physically backed and can be redeemed. Some of the highlighted cards include the 2000 Pokemon Gym Challenge 1st Edition Holo Blaine’s Charizard #2 and the 2006 Pokemon Ex Crystal Guardians Holo Charizard #4.

twitter.com · 1 min

TLDR Crypto

AXELAR PREPARES TOKENOMIC OVERHAUL FOR AXL

Axelar, a cross-chain platform, is planning to alter the tokenomics of its native currency, AXL. The current inflation rate of 11.5% will be reduced to around 5.2%, with an additional 0.3% for each external chain. This will encourage connections to external chains while controlling inflation. Additionally, Axelar plans to simplify the integration of L2s through an Axelar Virtual Machine and an Interchain Amplifier, allowing for automated multi-chain applications and scalable light-client connections.

blockworks.co · 3 min

TLDR Crypto

ROLLBIT RESEARCH REPORT

This thread lays out how Rollbit, a leading online crypto casino, is well-positioned to capitalize on the growth in online gambling. With revenue in online sports betting projected to reach $131 billion by 2027, Rollbit has gained popularity for its wide range of offerings such as sports betting, NFTs, and crypto futures. Despite concerns regarding centralization and risk management, Rollbit is a clear frontrunner for the crypto-enabled online gambling scene.

twitter.com · 4 min

TLDR Crypto

EMBRACING SPECULATION AS A GO-TO-MARKET APPROACH IN DEFI

This post from Variant explains how DeFi projects have successfully achieved rapid product-market fit by capitalizing on financial speculation. This strategy, faced with criticism in the consumer social category, is considered the norm in the DeFi sector. New DeFi protocols often struggle for initial liquidity, as users are wary of the risks involved with new smart contracts. To overcome this, these protocols offer a product that presents an opportunity for rewards significant enough to attract early adopters and speculators. This post argues that this strategy could be implemented beyond just the DeFi sector.

variant.fund · 4 min

TLDR Crypto

INFLOWS IN FIRST 5 YEARS

Bitwise Asset Management CIO Matthew Hougan predicts that proposed U.S.-listed spot bitcoin ETFs could see $55 billion in net inflows over the next five years. The estimate is based on the performance of bitcoin ETFs in other markets and could potentially include funds converting from the Grayscale Bitcoin Trust. Hougan also cited the need for investors to select asset managers familiar with the crypto space.

pionline.com · 3 min

TLDR Crypto

HOW QUANTUM COMPUTING AFFECTS BITCOIN: EXPLORING THE IMPACT

Development in quantum computing could potentially disrupt the security of cryptocurrencies, particularly Bitcoin. Bitcoin uses blockchain technology for transaction safety, which some argue can be compromised by quantum computers due to their ability to perform calculations exponentially faster than classical computers. However, experts believe post-quantum encryption algorithms and soft forks in Bitcoin's protocol could help secure it from quantum computer attacks.

quantumpositioned.com · 10 min

TLDR Crypto

SEPTEMBER 2022

It was revealed at his trial that Sam Bankman-Fried allegedly drafted a tweet preparing for Alameda Research's shutdown but never ended up submitting it.

theblock.co · 2 min

TLDR Crypto

CAPITAL

WOO Network is working with Teneo to repurchase shares and tokens from bankrupt 3AC. This is an interesting challenge that some companies might face as a number of investors are facing bankruptcy in the midst of the bear market.

coindesk.com · 2 min

TLDR Crypto

ALAMEDA HACKS

Alameda Research's lax security due to prioritizing speed led to major financial losses from frequent security incidents. This thread from an ex-Alameda employee details a few of these security breaches.

twitter.com · 2 min

TLDR Crypto

PAYMENT

First Abu Dhabi Bank used JPMorgan's Onyx for cross-border payment, marking another step forward for Onyx and JPMorgan’s involvement in the space.

twitter.com · 1 min