Daily Edition · Page 6

THE DAILY INDEX

Technology, AI, software, security, crypto and business

MARKETS & BUSINESS

TLDR Crypto

THE CFTC IS PROBING JUMP CRYPTO, PREVIOUSLY ONE OF THE SECTOR'S BIGGEST PLAYERS

The Commodity Futures Trading Commission is investigating trading firm Jump's involvement in the crypto industry. Jump Crypto is one of the most active market makers and investors. It has helped develop Wormhole, Pyth, and Solana's Firedancer client. Jump's controversies include Wormhole's $325 million hack, being a market maker for FTX, and being accused by the SEC of propping up Terra's stablecoin peg.

SEVEN EMERGING CRYPTO TRENDS

Some projects are pivoting and rebranding, like IOTA becoming an RWA L2 and the upcoming ASI token merger between Fetch, Ocean, and SingularityNet. Point farming gamification, as popularized by Sanctum, has created greater community engagement. Consultants like Gauntlet and other “McKinseys of DeFi” manage user assets and risk on platforms like Morpho. Onboarding is finally becoming Web2-like thanks to Coinbase Smart Wallet and other services.

PROPER AIRDROP INCENTIVES

Zeta Markets spent weeks analyzing its users and optimizing the airdrop to reward long-term participants. It ignored all users with less than $500 in volume, as they contributed less than 50 cents in trading fees and are not high-value customers. Active protocols like exchanges require risk and dedicated participation, weeding out lazy participants. To prevent instant sell pressure, Zeta Markets introduced an optional 7-day vesting period that rewarded users with 2x their allocation.

VITALIK AND ANATOLY ON SYNCHRONOUS ATOMIC COMPOSABILITY

Synchronous atomic composability is the concept of L2s instantly and seamlessly interacting with one another. Vitalik Buterin finds it overrated, as the main two use cases are cross-chain payments and using different dapps – both of which could be solved with cross-exchange protocols and wallet integrations. Anatoly Yakovenko, founder of Solana, sees a global synchronous state as critical for creating efficient and permissionless markets.

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