The Daily Index — Thursday, March 7, 2024 · TLDR Index

MARKETS & BUSINESS

TLDR Crypto

TLDR Crypto

BINANCE.US SLASHED TWO-THIRDS OF ITS WORKFORCE AS REVENUE PLUNGED AFTER SEC LAWSUIT

Binance.US is struggling with a loss of trust, severe revenue declines, and layoffs following the SEC's attempt to freeze its operations via a Temporary Restraining Order. Binance.US executive Christopher Blodgett disclosed in a recent court deposition that the TRO resulted in a $1 billion asset withdrawal and a 75% revenue drop. Following these challenges, the company laid off two-thirds of its workforce and experienced heightened legal and auditing costs and the loss of banking relationships.

coindesk.com · 2 min

TLDR Crypto

NIM NETWORK: THE FIRST ROLLAPP ON DYMENSION

The NIM RollApp combines blockchain tech with gaming to enhance user experiences. NIM, resulting from a three-year effort into gaming and deep-tech cryptography, aims to overcome current limitations in web3 gaming. The $NIM token will serve as the native currency for transactions and staking in the RollApp. NIM plans to start with an AI-focused project and progress through three phases of infrastructural development and application creation. Its tokenomics will provide a robust economy in the ecosystem.

forum.dymension.xyz · 3 min

TLDR Crypto

THE FRONTIER OF DECENTRALIZED INTELLIGENCE

FormAI aims to democratize artificial general intelligence by creating a blockchain-driven protocol for AI computation, data, and research. The Form protocol leverages a decentralized network for efficient AI training and inference. It supports various hardware, employs smart contracts for task management, and uses pipeline and data parallelism for task allocation. It also introduces a reward system and integrates synthetic data generation, data scraping and labeling, and AI evaluation. FormAI also aims to foster AI research and ensure community governance in AGI decision-making.

formai.us · 6 min

TLDR Crypto

BITCOIN ON-CHAIN DEEP DIVE

Bitcoin's long-term holder growth rate is indicating early bullrun signs. A buoyant supply delta and the Bitcoin Macro Index point to strong expansion. While the trend suggests a significant uptrend in the coming months, it could be potentially faster than the average progression and there is a possibility of some short-term volatility or pullback. The era of "deep value" Bitcoin is over, giving way to a "Bitcoin Momentum era."

twitter.com · 2 min

TLDR Crypto

ICHIMOKU KINKO HYO: A COMPREHENSIVE GUIDE

The Ichimoku Kinko Hyo is a comprehensive trading system originally from Japan that helps traders maintain a holistic view of an asset’s trend. The system encompasses six elements. These include the Kijun-Sen or base line, Tenkan-Sen or conversion line, Chikou Span (also known as Lagging Span), and Senkou Span A and B, which collectively form the Cloud (Kumo), a crucial feature of the system. The system applies to multiple markets, such as crypto, commodities, forex, and more. Its one-glance approach helps traders identify the direction and strength of a trend, potential support, and resistance levels and can provide overbought or oversold signals.

medium.com · 11 min

TLDR Crypto

WHY BITCOIN COULD BE THE BIGGEST ON-CHAIN CASINO IN THE WORLD

Bitcoin could experience a surge in speculative activity within the next 6-12 months beyond its typical use case of being a store of value. There has been a flurry of developer activity on Bitcoin over the past year, which has led to NFTs, DeFi, and other use cases being built on top of Bitcoin. Coupled with its familiarity with the retail audience and the potential for speculators to increase their bitcoin stack, significant capital flows are predicted for Ordinals, L2s, DeFi, and other apps during this bull run that will resemble the Ethereum ecosystem’s growth in 2020-2021.

twitter.com · 2 min

TLDR Crypto

FORMAL VERIFICATION FOR ZK SAFETY

Reilabs utilizes Formal Verification techniques for enhanced security of Zero Knowledge circuits, which assists developers with on-chain computations. It recently confirmed the effectiveness of the Worldcoin network's core protocol, World ID, through this method. Reilabs noted the need for better tools in order to ensure ZK proof correctness and advocates for continuous checks to prevent user access issues.

twitter.com · 2 min

TLDR Crypto

WORMHOLE UNVEILS AIRDROP DETAILS—HERE'S WHAT YOU NEED TO KNOW

Wormhole announced an airdrop for its governance token across Solana, Ethereum, and other blockchains, benefiting nearly 400,000 wallets with 617.3 million tokens allocated.

decrypt.co · 2 min

TLDR Crypto

REVOLUT LAUNCHES DIRECT CRYPTO PURCHASE INTO METAMASK WALLETS IN BID TO SIMPLIFY WEB3

Revolut is collaborating with MetaMask to launch Revolut Ramp in the UK/EEA to simplify topping up MetaMask wallets directly from Revolut accounts or cards, promoting crypto adoption.

coindesk.com · 2 min

TLDR Crypto

ON CYCLE TOP(S)

This post lays out the case for a double top this cycle due to crypto natives selling early and underestimating retail inflows, leading to a new all-time high driven by strong inflows from traditional finance.

twitter.com · 2 min

TLDR Crypto

FARCASTER LOSES 60% OF USERS IN ONE MONTH AS INTEREST IN SOCIALFI WANES

Farcaster's daily active users have dropped 60% to 16,000 from over 40,000 since early February despite a crypto rally, with declining revenue and engagement on SocialFi platforms.

thedefiant.io · 3 min