Daily Edition · Page 6

THE DAILY INDEX

Technology, AI, software, security, crypto and business

MARKETS & BUSINESS

TLDR Crypto

CHAINLINK TOKENIZATION TEST

Chainlink recently shared the results of the Smart NAV (Net Asset Value) industry pilot, which involved Chainlink, DTCC, and ten major financial institutions. In the pilot, the team successfully delivered mutual fund data onchain, which demonstrated DTCC's capability to provide NAV data across various blockchains (private/public). This pilot illustrates how Chainlink's CCIP can be used as an open blockchain interoperability standard to prevent fragmentation and improve automated data dissemination and access for fund tokenization.

RECONCILING THE TWO OPPOSING PATHS FOR DECENTRALIZED STABLECOINS

Maker's DAI stablecoin has been in an awkward position, unable to commit fully to the idea of being a completely decentralized stablecoin or a large-scale, dollar-pegged asset. Maker's Endgame allows these visions to be pursued simultaneously, with DAI being replaced by two stablecoins: NewStable and PureDai. NewStable will focus on utility and adoption, emphasizing decentralization but incorporating RWA and TradFi. PureDai will be collateralized by decentralized assets like ETH, with a free-floating peg, maximally decentralized oracles, and no governance.

DEEP DIVE INTO TON ECOSYSTEM

TON, founded by the Durov brothers in 2017 and rebranded to "The Open Network" in 2020, has seen a resurgence since its collaboration with Telegram in September 2023. It is now the 9th largest crypto project with a current FDV of ~$25B. TON's ecosystem includes the TON Blockchain, TON DNS, TON Storage, and TON Payment. TON benefits from being able to leverage Telegram's user base of ~900M users. It is currently experiencing significant growth in TVL and trading volume bolstered by USDT integration and incentive programs like The Open League.

ATTENTION IS ALL YOU NEED

Attention is the most valuable yet misunderstood resource. Big tech has attempted to monetize it to the greatest extent possible via algorithms. These companies aim to capture, retain, and monetize attention, creating the attention economy that dominates the internet today. GameStop's stock pump and memecoins exemplify how attention can be monetized and demonstrate its value – crypto democratizes attention by tokenizing it. Bitcoin's various narratives, from a store of value to a hedge against World War 3, make it broadly approachable and create a contagious expression of ideas.

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