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THE DAILY INDEX

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MARKETS & BUSINESS

TLDR Crypto

CITI ALUMNI-FOUNDED STARTUP TO OFFER BITCOIN SECURITIES THAT DON'T NEED GREEN LIGHT FROM SEC

A former group of Citi executives is planning to offer Bitcoin-backed securities, bypassing the need for SEC approval. The venture, Receipts Depositary Corp., will offer depositary receipts that will give institutional investors direct ownership of the digital assets. This approach aims to meet the needs of investors seeking Bitcoin investments not fully addressed by a possible spot ETF.

A GUIDE TO NODEMONKES: 10K PIXELATED ORDINALS EXPLAINED

NodeMonkes, a project of digital artworks known as Bitcoin Ordinals, has been the talk of the NFT space since launching last month. These digital assets are not actually NFTs but Ordinals inscribed on Bitcoin. NodeMonkes claims to be the first original 10k Ordinals collection. The team actually inscribed the collection as Ordinals early last year, giving a large portion of the collection the ‘sub-100k’ inscription status, but waited for more favorable market conditions to officially launch the project.

HOW TO LOSE 99.9% AND STILL SCORE A 500X

This post explores the idea of constant leverage, an automated investment strategy that can yield high returns while also exposing the investor to potentially significant losses. Constant leverage is a commonly used approach in traditional finance markets, with many structured products built for this purpose. However, these products typically come with hefty fees. Leveraging DeFi to create similar products in the crypto space could enhance the returns of this type of strategy and improve visibility of what is actually going into the products.

THE STATE OF PRIVATE VOTING IN ETHEREUM

Privacy-focused digital voting systems are emerging as a key tool for combating centralized control, surveillance, and the erosion of civil liberties. This report presents a comparative analysis of various private voting protocols in the Ethereum ecosystem, ranging from MACI and Semaphore to Plume and RLN. These systems utilize features like zero-knowledge proofs and privacy components to ensure secure, resilient, and confidential voting. The report aims to help developers choose the right protocols for their specific needs, assisting in the development of applications that value digital privacy.

EXPLORING ECLIPSE'S CANONICAL ETHEREUM BRIDGE AND PROVING SYSTEM

Ethereum's ‘fastest L2’, Eclipse, powered by the Solana Virtual Machine, has revealed detailed plans to enhance scalability and security features for DeFi applications. The architecture has three layers: execution, settlement, and data availability. Eclipse fosters user-friendly bridges for depositing and withdrawing funds and regularly publishes data blobs in batches for data availability. Furthermore, it implements a challenge period for fraud-proof submission in case of invalid state transitions, ensuring the security of transactions.

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