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THE DAILY INDEX

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MARKETS & BUSINESS

TLDR Crypto

PRIVACY TECHNOLOGY FIRM NYM PLANS EARLY 2024 ROLLOUT OF 'DECENTRALIZED VPN'

Nym Technologies, backed by Binance Labs and a16z, is planning to release a decentralized VPN called NymVPN in early 2024. Unlike traditional VPNs, NymVPN will route user data through multiple nodes to improve privacy and security. This comes after Nym's announcement last month that it received $300 million in commitments from investors to fund projects supporting privacy in the crypto ecosystem.

WHAT TO LOOK FOR IN A ROLLUPS-AS-A-SERVICE (RAAS) PLATFORM

This guide lays out some basic things a Rollups-as-a-Service platform should have to help startups deploy and maintain blockchains. In choosing a RaaS platform, considerations include the quality of sequencers, autoscaling of remote procedure calls, auxiliary infrastructure such as bridges, block explorers and transaction tracers, integrations with popular crypto products and services, expert guidance, continuous maintenance, and operation support.

TOKEN VALUATION 101: WHY YOU NEED A VALUATION WHEN USING TOKENS AS COMPENSATION

This blog explores what token valuations are, their importance, the timing, factors affecting these valuations, and how frequently a project should examine its token valuation. It also explores when a project should get its first token valuation, the necessity of token valuation prior to token minting, separating equity and token valuations, and the importance of token valuation during exchange trading.

NORTHERN DATA SIGNS $600 MILLION DEBT FACILITY WITH TETHER

German firm Northern Data is borrowing $600 million from Tether to expand its data center operations and bitcoin mining business. Proceeds will be used to enhance its Taiga Cloud, Ardent Data Centers, and Peak Mining. This follows Tether's subsidiary Damoon purchasing $427 million of NVIDIA GPUs for AI cloud computing. Despite a decline in market share this year, Northern Data recently pre ordered new mining technology worth $150 million.

BREAKING DOWN COINBASE’S EARNINGS

Coinbase's Q3 performance beat expectations, but the markets were still not pleased with the results. It had a revenue decline that was attributed to a slow Q3 across the crypto industry. The growth story the Company focused on was Base, positioned to be the next Square or PayPal through peer-to-peer and merchant payments. Although trading volumes dropped, the company's international regulatory outlook improved in the quarter, giving it greater potential for growth. Nevertheless, the third consecutive quarter of declining revenue outweighed the positive elements of the release.

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