The Daily Index — Thursday, June 13, 2024

MARKETS & BUSINESS

TLDR Crypto

US FED MAINTAINS CURRENT RATES AND REVISES EXPECTATIONS TO ONE POTENTIAL CUT THIS YEAR

The Federal Reserve revised its expectations to one rate cut this year (from previously anticipated three) after a slight improvement towards its 2% inflation target. This hawkish adjustment in monetary policy led to Bitcoin and other financial markets ceding earlier gains.

coindesk.com · 2 min

TLDR Crypto

INTRODUCING CYCLOID: ETHEREUM TRANSACTIONS OVER RADIO

Cycloid is a hardware wallet capable of direct message signing, running applications, and sending transactions over radio. It was created by FOAM, which creates proof of location technology for applications requiring location services. Cycloid enables the communication of transactions to gateways that broadcast them to the network.

links.tldrnewsletter.com · 4 min

TLDR Crypto

ENTROPY: THE AUTONOMOUS AGENT NETWORK

Entropy has released its first testnet with support for a decentralized signing solution, paving the way for autonomous agents to interact with blockchain. Entropy unlocks secure ways for agents to facilitate various onchain activities by innovating on complex and error-prone traditional crypto key management.

links.tldrnewsletter.com · 2 min

TLDR Crypto

BOND: SOLANA LABS' LOYALTY PROGRAM

Bond uses blockchain to create transparent, personalized digital experiences, facilitating stronger customer connections and loyalty. Current loyalty programs face issues with tracking purchases across many different channels and preventing counterfeits, two problems solved via blockchain verification. Bond's four areas of focus are digital collectibles, luxury goods authenticity, digital product passports + identities, and collaborative campaigns.

threadreaderapp.com · 1 min

TLDR Crypto

DEPIN: TRACTION IN SUPPLY & EARLY SIGNS OF INCREASING DEMAND

DePIN shows potential to quickly crowd-source network infrastructure by offering third-party participants token rewards. Hivemapper used dashcams to map 21% of the world's roads with over 60,000 participants in 31 months but has yet to see demand for its maps. Helium, the largest decentralized wireless network, has shown early signs of product market fit with over 90,000 signups for its 5G unlimited phone plan. Both projects reward far more tokens than are being burned, which is expected for their current high-growth plans.

threadreaderapp.com · 3 min

TLDR Crypto

10 TRUISMS FROM CRYPTO STARTUP ACCELERATOR

a16z's crypto startup accelerator discusses ten key principles for crypto entrepreneurs. Some of them include creating decentralized protocols with tokens, actively promoting one's startup, setting strict deadlines, continuously hiring, and aggressively seeking more engagement for one's projects.

threadreaderapp.com · 2 min

TLDR Crypto

PRECONFIRMATIONS: CREDIBLE PROMISE OF FUTURE EXECUTION

Preconfirmations are credible promises validators give to users in exchange for an economic incentive. Research suggests they could be used by L2s to guarantee transaction inclusion in Ethereum blocks while still preserving decentralization and good UX. This analysis breaks down different types of preconfirmations and various proposed approaches.

threadreaderapp.com · 2 min

TLDR Crypto

THE RESTAKING WARS: EIGENLAYER VS SYMBIOTIC

This article covers the rapid rise of Symbiotic, a new restaking protocol that quickly reached $200 million in deposits, challenging Eigenlayer with its flexible and modular design. It also introduces Mellow Protocol's LRT deployment on Symbiotic, highlighting new high-yield farming opportunities and significant developments in the competitive DeFi landscape.

ignasdefi.com · 10 min

TLDR Crypto

$140M CRV NEARING LIQUIDATION

Curve founder Michael Egorov is borrowing nearly $100M in stablecoins against $141M in CRV. If CRV drops by 10%, these positions may begin to get liquidated.

threadreaderapp.com · 1 min

TLDR Crypto

TURKISH LIRA REPRESENTS 19% OF BINANCE TRADES

Kaiko has reported that the Turkish Lira represents ~19% of crypto volume trades since GBP and AUD pairs have been delisted.

threadreaderapp.com · 2 min

TLDR Crypto

CRYPTO HACKS NET $19B SINCE 2011

Since 2011, ~$19 billion in crypto has been stolen (785 incidents), highlighting a trend of blockchain-related crimes despite advancements in security and monitoring.

coindesk.com · 1 min

TLDR Crypto

EIGEN LABS ACQUIRES RIO NETWORK

EigenLayer has acquired the liquid restaking network Rio's team as it plans to expand from research into product growth.

threadreaderapp.com · 1 min