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THE DAILY INDEX

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TLDR Crypto

GEMINI FILES COMPLAINT AGAINST GENESIS OVER $1.6 BILLION IN GBTC SHARES

Gemini Trust filed a lawsuit against bankrupt Genesis Global Holdco and DCG, claiming it should have access to GBTC shares worth around $1.6 billion. It alleges that these shares were promised as collateral for loans by Gemini users in the Gemini Earn Program. Furthermore, Gemini argues Genesis has hurt users by delaying the return of their assets. Both firms are facing regulatory scrutiny, while Genesis' lending unit has filed for bankruptcy.

ARBITRUM ORBIT LAUNCHES ON MAINNET

Arbitrum has officially launched Arbitrum Orbit on mainnet, an advanced scaling technology for launching customized blockchains. Orbit chains include Xai Games, Cometh, SyndrHQ, Polychainmon, and others forming an expanding ecosystem. Orbit provides solutions for ultra-low-cost transaction fees and smart contracts in Rust, C, and C++ with full EVM compatibility. The technology will also allow for future upgrades, including validation, MEV capture, cost reductions, and more.

NEO UNVEILS HIGHLY SECURE DEFI-FOCUSED EVM-COMPATIBLE SIDECHAIN IN HONG KONG

Neo announced a new EVM-compatible sidechain aimed at empowering developers to deploy smart contracts and expand DeFi use cases. The sidechain focuses on countering MEV attacks to maintain platform integrity and prevent user losses. Neo aims to offer a secure and reliable DeFi experience with transparency of transaction metadata and identity protection. The sidechain remains connected to the Neo Mainnet through Neo's native GAS token.

5 PHASES OF THE BITCOIN HALVING

This thread goes over the five stages of the Bitcoin Halving set for April 2024, including how Bitcoin typically trades around its halvings. These stages include the pre-halving period, the pre-halving rally, pre-halving retrace, re-accumulation, and the parabolic uptrend. Historically, retraces during the pre-halving have yielded great returns post-halving. The re-accumulation stage often tests investor patience, yet leads to the uptrend stage that typically sees Bitcoin reach record highs.

VALUE ACCRUAL FOR ROLLUP FRAMEWORKS AND RAAS (ARE THEY GOING TO ZERO?)

Numerous rollup frameworks and Rollups-as-a-Service platforms have been launched, leading many to wonder about their viability for value accrual. Although direct value primarily accumulates at the execution layer, rollup frameworks can acquire indirect value through widespread use and enhancements. Some may also share revenue, facilitating semi-direct value accumulation. Striking the right balance between collaboration and competition will be key for these frameworks and platforms' sustainable growth.

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