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THE DAILY INDEX

Technology, AI, software, security, crypto and business

MARKETS & BUSINESS

TLDR Crypto

ARBITRUM BOLD RELEASED ON TESTNET

Offchain Labs has released Arbitrum BOLD on testnet, a new dispute resolution protocol for optimistic rollups that enhances permissionless validation and security. Now, anyone can secure claims about Arbitrum's state on Ethereum, promising increased network security and democratizing the validation process. Following thorough testing, including community engagement and a tally vote, BOLD is expected to further align Arbitrum with Ethereum's decentralization goals.

INTRODUCING SUBSCRIPTION MINTING

Subscription Minting is being launched as a solution to high gas fees and minting inconveniences, allowing users to prepay for future mints at lower costs, with the flexibility to opt in or out of specific mints while still adhering to the established allowlist process. This system aims to relieve stress for collectors by providing a quick, secure way to manage mints without bots or season passes, ensuring a fair chance for all participants.

RUNES - BITCOIN'S NEW FUNGIBLE TOKEN STANDARD

Franklin Templeton Digital Assets highlights the upcoming Runes standard and its significance for Bitcoin. After the success of Ordinals, which has a market cap of around $2 billion, creator Casey Rodarmor is introducing Runes as a more efficient version of BRC-20 tokens that better uses Bitcoin's UTXO design. Specifically, Runes will be entirely onchain, Lightning network compatible, and will not require wasted UTXO transactions. Bitcoin's current fungible token market cap is $600 million, but the adoption of Runes could drive it higher.

20 OF THE MOST INNOVATIVE ONCHAIN EXPERIMENTS FROM THE LAST 3 YEARS

General Partner at Electric Capital Maria Shen divides her list of the most innovative onchain experiments from the last 3 years into four categories. For human coordination mechanisms, she highlights Nouns DAO for its complex treasury system and spin-off projects and Curta for its recognition of solving hard problems. In the “pricing historically difficult assets” category, Love on Leverage prices momentum during a live dating show and Orb Land allows users to access Q&As with influencers. Her “markets for unique assets” category includes liquid NFT markets. The final category is for incentive mechanisms for onchain art, represented by the 5/9 chess engine's NFT-per-move mechanic.

BREAKDOWN OF “AN ANALYSIS OF INTENT-BASED MARKETS”

Gauntlet founder Tarun Chitra's recent paper about intents researches how effort, congestion, and entry costs affect intent markets. To receive the most tokens during an intent swap, reduced competition helps since it increases the win rate of solvers, reducing their cost. A system similar to a Dutch auction can be used to maximize user utility when there's no possible arbitrage between an onchain AMM and a solver.

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