The Daily Index — Tuesday, November 7, 2023 · TLDR Index

MARKETS & BUSINESS

TLDR Crypto

TLDR Crypto

FCA DISCUSSION PAPER ADVANCES UK STABLECOIN FRAMEWORK

The UK Financial Conduct Authority (FCA) has continued to work on regulations for fiat-backed stablecoins, including those issued outside the UK. In a recent paper, the FCA highlighted the potential of stablecoins for efficient payments, but also noted previous crypto custody failures such as Celsius and FTX. The regulator proposed requirements for issuing fiat-backed stablecoins and custody activities. The FCA also suggested that issuers should guarantee specific redemption timeframes for users.

blockworks.co · 3 min

TLDR Crypto

THE EDGE PROGRAMMING LANGUAGE

This article outlines "Edge," a new programming language for the Ethereum Virtual Machine. The author describes various shortcomings in the current dominant language, Solidity, and explains how Edge could offer more developer control, clearer abstractions, and promote emergent structures over imposed ones. Edge aims to redefine the abstraction stack by combining the flexibility of low-level languages like Huff and ETK with high-level type systems, opening up new possibilities in smart contract development.

jtriley.substack.com · 12 min

TLDR Crypto

BASEFOLD: EFFICIENT FIELD-AGNOSTIC POLYNOMIAL COMMITMENT SCHEMES FROM FOLDABLE CODES (1 HOUR READ)

BaseFold is a system that leverages Foldable Linear Codes for an enhanced approach to Polynomial Commitment Schemes. Offering a more balanced tradeoff between prover time, proof size, and verifier time, BaseFold outperforms other systems like FRI and Brakedown on varying metrics based on the complexity of the polynomials. It maintains performance across a wider variety of field choices and allows for faster prover times in specific applications.

eprint.iacr.org

TLDR Crypto

10 GREAT CRYPTO CHART/DATA POSTERS YOU SHOULD BE FOLLOWING

This thread lists 10 crypto-chart and data accounts you should be following. The recommendations cover different areas of crypto, from trading to trend analysis to macro outlooks. Following these accounts can help you get a better picture of all the different factors affecting the crypto landscape. The thread even includes a bonus account for you to follow.

twitter.com · 4 min

TLDR Crypto

HOT NARRATIVES: OTC CRYPTO TRADING WITH OT SEA

OT Sea, a platform facilitating P2P OTC trading within the crypto market, is becoming a popular alternative for traders seeking to avoid the pitfalls of liquidity pools. It offers solutions for issues such as token taxes, whale tracking, and low liquidity risks. It also has features such as Mini-Markets and MEV Protection that are aimed at enhancing trading capabilities and user safety. OT Sea has gained traction lately, growing 10x in the past week.

fraxcesco.substack.com · 5 min

TLDR Crypto

ON PFP NFTS

This thread provides an interesting viewpoint on PFP NFTs and how they have fared throughout the bear market and this recent uptrend. To this user’s surprise, PFP NFTs have rebounded more than expected as the broader crypto market has seen an upturn. He lays out some reasons why established PFPs seem to be showing strength: no viable alternatives were launched during the bear market, the liquidity within existing collections acts as a moat, and collection holders have built personal brands on top of existing PFP NFTs and are hesitant to make changes if they have gained traction with that brand.

twitter.com · 6 min

TLDR Crypto

EYES AND ORDERS: ON CRYPTO FRONT-ENDS

This article discusses the potential for web3 front-ends to become highly valuable businesses, particularly over the next few years. It emphasizes the significance of proprietary AI, orderflow auctions, and branding in building a strong front-end presence. Frontend businesses that can successfully leverage these elements, specifically those targeted at the retail market, will be able to monetize both their user traffic and their orderflows effectively, potentially making them some of the most valuable entities in web3.

figmentcapital.medium.com · 10 min

TLDR Crypto

SEC HAVING TROUBLE RECRUITING CRYPTO TALENT

The biggest challenges facing the SEC were analyzed in a recent report from the Office of the Inspector General of the SEC. These include issues around recruiting crypto talent due to SEC employees not being able to hold any cryptocurrencies.

twitter.com · 1 min

TLDR Crypto

THIS ALL FEELS LIKE NOVEMBER 2019

This post outlines some thoughts on how the market conditions right now in crypto seem to mirror those that existed in November 2019. It explains how asset declines are expected to spark rate cuts and stimulus leading to a subsequent bull run.

twitter.com · 1 min

TLDR Crypto

EXPLORING PATHS TO A DECENTRALIZED, CENSORSHIP-RESISTANT, AND NON-PREDATORY MEV ECOSYSTEM

This post outlines proposed changes to FastLane on Polygon, which currently mitigates MEV issues like sandwich attacks and centralizes profits to validators but risks stake centralization.

ethresear.ch · 11 min

TLDR Crypto

FTX WANTS TO SELL ITS GBTC

FTX is seeking court approval to sell $744 million in trust assets to aid in creditor repayments and streamline the sale process amidst bankruptcy proceedings.

coindesk.com · 2 min