The Daily Index — Wednesday, June 12, 2024 · TLDR Index

MARKETS & BUSINESS

TLDR Crypto

TLDR Crypto

$270.4M IN CRYPTO LIQUIDATIONS

The crypto market's recent selloff has triggered substantial liquidations amounting to $270.4 million (at the time of writing), mainly affecting long positions. Bitcoin and Ethereum experienced notable declines, dropping 3.5% and 4.6% respectively, with Ethereum seeing the most liquidations at $70.5 million.

theblock.co · 2 min

TLDR Crypto

SYMBIOTIC: PERMISSIONLESS, FLEXIBLE RESTAKING

Symbiotic is a restaking protocol that competes with EigenLayer and Karak. It has launched its bootstrapping phase, onboarding ETH LSTs as collateral. Its modular design supports any combination of tokens as collateral, and immutable non-upgradable contracts remove governance risks. Its initial partners, which include Ethena, Hyperlane, and Lido, are building solutions alongside or on top of Symbiotic's infrastructure.

threadreaderapp.com · 1 min

TLDR Crypto

FUSE: SOLANA'S FIRST SMART WALLET

Solana has launched Fuse, a smart wallet designed to enhance the mobile experience for individual users of Squads Protocol by simplifying security measures and transaction processes. Fuse aims to transform the concept of self-custodial wallets by leveraging smart accounts for asset storage, offering a programmable platform that enhances security and user experience with features like multi-factor authentication and programmable spending limits.

threadreaderapp.com · 4 min

TLDR Crypto

WTF ARE FRAUD PROOFS?

Optimism's introduction of fraud proofs means that bridged assets can be withdrawn without Optimism's approval and anyone can review and challenge OP Mainnet transactions. Previously, the Ethereum settlement layer had to trust Optimism's transaction history without proving it. Looking forward, other OP Stack chains like Base and Mantle should be able to implement fraud proofs and become Stage 1 L2s much quicker.

threadreaderapp.com · 2 min

TLDR Crypto

BTC MINER SENTIMENT THREAD

This thread compiles various tweets that are bullish on the Bitcoin mining sector. They cite concerns surrounding capital expenditures, competition, and the environmental impact. Marathon, the biggest mining company, has 25% short interest as a percentage of its float. CleanSpark has been seeing insider selling since the beginning of this year.

threadreaderapp.com · 6 min

TLDR Crypto

INTRODUCING THE ZK TOKEN

The ZKsync L2 has released its much-anticipated tokenomics and airdrop allocation information. 17.5% of the token supply will be airdropped to ZKsync users, the highest of any major L2, with two-thirds going to the community through ecosystem incentives. The ZK token will be used for protocol governance and gas fees, with claims opening next week.

blog.zknation.io · 8 min

TLDR Crypto

UNISWAP LABS ACQUIRES CRYPTO: THE GAME

Uniswap Labs has acquired the interactive onchain survival experience “Crypto: The Game.” In its first two seasons, users bought in with 0.1 ETH, joined alliances, completed challenges, and voted each other out to win the pot. Uniswap promises new twists and features for season 3.

threadreaderapp.com · 1 min

TLDR Crypto

ARE BINANCE LISTINGS NO LONGER BULLISH?

For the past few years, over 95% of Binance listings have dumped.

threadreaderapp.com · 1 min

TLDR Crypto

COINS AND THEIR PERFORMANCE FROM RECENT LOCAL TOPS

This tweet compiles top cryptos and their percentage declines from February/March tops.

threadreaderapp.com · 1 min

TLDR Crypto

POLYGON WILL PROVIDE 1B POL TOKENS OVER 10 YEARS TO DEVELOPERS

Polygon is launching its Community Grants Program, allocating 1 billion POL to builders over 10 years.

threadreaderapp.com · 6 min

TLDR Crypto

NATIVE STAKING MAKES STAKING PERMISSIONLESS

EigenLayer faced a crucial decision early on in which it had to decide whether to integrate native restaking fully or accept a proposal that focused only on Liquid Staking Tokens (LSTs), which would simplify development but limit staking options.

threadreaderapp.com · 1 min