The Daily Index — Monday, November 6, 2023 · TLDR Index

MARKETS & BUSINESS

TLDR Crypto

TLDR Crypto

OPENSEA SLASHES NFT MARKETPLACE STAFF BY 50%

OpenSea confirmed a reduction of 50% of its total workforce as part of structural and operational changes. The goal of this move is to establish a more streamlined version of the OpenSea platform. CEO Devin Finzer shared the company's revised goal to lead and innovate in the space while launching an upgraded version of its platform.

decrypt.co · 4 min

TLDR Crypto

BORED APE CREATOR YUGA LABS AND MAGIC EDEN LAUNCHING ETHEREUM NFT MARKETPLACE THAT ENFORCES ROYALTIES

Magic Eden announced plans to launch a new Ethereum-based marketplace with Yuga Labs by the end of the year. The platform will use smart contracts to ensure creator royalties are honored during secondary market sales. This development comes in response to some platforms failing to honor creator fees as NFT sales took a major hit over the past year. With this move, Magic Eden reaffirmed its commitment to supporting creators and addressing potential loopholes in their new solution.

decrypt.co · 6 min

TLDR Crypto

BUTTER FINANCE: THE PREMIER DECENTRALIZED META-GOVERNANCE AND YIELD-BOOSTING PLATFORM FOR PANCAKESWAP’S UPCOMING VECAKE MODEL

DeFi platform Butter Finance is set to enhance yield and governance for PancakeSwap’s upcoming veCAKE model. Butter Finance aims to serve a large, diverse international user base, facilitating sophisticated liquidity strategies and lucrative protocol access. Its function is to aggregate veCAKE and democratize the reward boost across liquidity providers, which will result in more CAKE being locked and optimally allocated. Butter will launch with support from multiple well-known DeFi stakeholders.

twitter.com · 3 min

TLDR Crypto

AN UNFINISHED GUIDE TO ZK ROLLUPS

This article provides an in-depth guide to understanding ZK proofs and ZK rollups. It covers the fundamentals of ZK proofs, practical examples, and the intricacies of how ZK rollups operate. It also explores how these solutions interact with the Ethereum Virtual Machine. The guide is part of a series aimed at shedding light on the complex world of zero-knowledge cryptography in blockchain technology.

mirror.xyz · 10 min

TLDR Crypto

COIN BULL CASE

This thread makes a bull case for Coinbase. It argues that Coinbase is well-positioned to capture a substantial increase in volume due to its retail-friendly platform, high beta exposure to the crypto market, expansion into international markets, steady progress towards profitability, and assortment of offerings. However, the potential regulatory environment in the US and outstanding cases the company faces remain a concern.

twitter.com · 4 min

TLDR Crypto

CHAINLIGHT SAVED ZKSYNC ERA FROM $1.9B EXPLOIT

Blockchain security auditor ChainLight discovered a vulnerability in the zkSync Era protocol that could have led to a potential $1.9 billion loss. The flaw was located in the zk-circuits, which verify the integrity of transactions. Exploitation would have allowed an attacker to mimic legal transactions. Although exploiting the flaw would be very challenging due to the high security level required, the Matter Labs team responded, swiftly fixing the issue, and ChainLight was rewarded with 50,000 USDC for finding the bug.

blockworks.co · 2 min

TLDR Crypto

A GUIDE TO THIS CYCLE

This post lays out some helpful tips to keep in mind during this cycle, especially during the bull market. It suggests buying support during dips and pullbacks, warns against excessive leverage, and urges traders to constantly scan for opportunities. It predicts new waves of liquidity from Bitcoin and Ethereum spot ETFs coming online, Solana’s potential during this cycle, and the impact of potential DOJ regulations.

twitter.com · 2 min

TLDR Crypto

THIS MONTH’S STATE OF CRYPTO INDEX FROM A16Z

a16z’s monthly update to its State of Crypto Index includes improved measures for mobile wallet users, now sourced from SensorTower, and developer library downloads, now featuring viem.

twitter.com · 1 min

TLDR Crypto

SEC ASKS COURT FOR SUMMARY JUDGEMENT AGAINST DO KWON, TERRAFORM

The SEC is seeking summary judgment against Do Kwon and Terraform Labs, alleging the sale of securities and fraudulent conduct without needing a full trial.

coindesk.com · 2 min

TLDR Crypto

US SUPREME COURT AGREES TO TAKE UP COINBASE CASE INVOLVING ARBITRATION JURISDICTION

The US Supreme Court will hear a Coinbase case to determine if a Dogecoin sweepstakes dispute is subject to arbitration or California court jurisdiction.

theblock.co · 2 min

TLDR Crypto

ARTA TECHFIN DEVELOPING REGULATED, INTEROPERABLE FUND TOKENS ON MAJOR CHAINS

Arta TechFin is developing regulated, interoperable fund tokens with Chainlink’s services, offering fiat-based investment returns. It is also seeking regulatory approval for the product.

artatechfin.com · 6 min