The Daily Index — Friday, July 5, 2024 · TLDR Index

MARKETS & BUSINESS

TLDR Crypto

TLDR Crypto

GERMAN GOVERNMENT SELLING UP TO $175M BTC

The German Government recently transferred a total of 3,000 BTC, worth ~$175M, to centralized exchanges (e.g., Kraken, Bitstamp, and Coinbase) and potentially to an institutional service or OTC. This indicates a significant sale or reallocation of the government's Bitcoin holdings.

threadreaderapp.com · 1 min

TLDR Crypto

EIP-7732: ENSHRINED PROPOSER BUILDER SEPARATION

ePBS, a change to the Ethereum protocol that separates blocks into consensus and execution parts, now has an EIP number. Introducing this feature gives attesters more time to execute transactions, makes proposer-builder interactions trustless, and removes the need for staker middleware.

threadreaderapp.com · 2 min

TLDR Crypto

ERC-5564 AND ERC-6538 PAVE THE WAY FOR STEALTH ADDRESS PAYMENTS

ERC-5564 and ERC-6538 introduce stealth address payments on Ethereum, providing Monero-like privacy by allowing transactions to be received at one-time, non-reusable addresses generated via cryptographic methods to enhance user privacy. Using this approach, transaction histories aren't visible to the public, which would cater to the next billion users who prefer confidential transactions and enable a range of use cases, from private payments to discrete NFT transfers.

threadreaderapp.com · 3 min

TLDR Crypto

THE PRIVATIZATION OF ORDERFLOW AND RESURGENCE OF THE FAT APP THESIS

Nearly half of the $25 billion in orderflow volume over the past month on Ethereum has come from private or proprietary applications. The trend started with DeFi summer, when transaction aggregators, wallet swaps, Telegram bots, and solver networks launched. This development supports the fat app thesis, where applications controlling user attention and order flow would accrue the most value in the ecosystem.

x.com · 5 min

TLDR Crypto

HYPERLIQUID THESIS

Over the past year, Hyperliquid has grown to host 150,000 users and over $220 billion in volume. Traders at all levels and across Crypto Twitter like the platform, and it has found product/market fit. Over 95% of Hyperliquid users are down on their trades but continue to use the platform, creating a community moat.

threadreaderapp.com · 5 min

TLDR Crypto

FRIENDTECH'S DOWNFALL

Friendtech's journey started with promising tech and a strong community in the SocialFi space, inspiring numerous clones and innovations. However, the project has faced severe missteps, including high fees, community hostility, lack of meaningful updates, and poor handling of sybil attacks, leading to a collapse in sentiment and value.

threadreaderapp.com · 2 min

TLDR Crypto

WHAT'S THE DEAL WITH MEGAETH?

MegaETH is an L2 with sub-second latency and 100k TPS. It recently had angel participation from Vitalik Buterin. MegaETH separates transaction processing into three node types - sequencers, provers, and full nodes - that centralize block building but retain trustless verification. It also stores its state in the sequencer memory and optimizes its compiler to improve efficiency.

threadreaderapp.com · 4 min

TLDR Crypto

RABBY WALLET QUIETLY ADDS A FEE TO THEIR SWAPS

Rabby has introduced a 0.25% swaps fee - it is not prominently displayed and can only be seen by scrolling in the UI, potentially misleading users who don't notice the hidden fee.

threadreaderapp.com · 1 min

TLDR Crypto

$WELL TOKEN LAUNCH DISASTER

The $WELL token launch had a contract loophole, allowing early sales and causing a significant drop in token value before the community could claim their tokens.

threadreaderapp.com · 2 min

TLDR Crypto

FRIEND.TECH NO LONGER MOVING CHAINS

After receiving backlash for signaling plans to move away from the Base L2, friend.tech has announced that it will remain on Base as a 100% community-controlled token.

threadreaderapp.com · 1 min

TLDR Crypto

DECLINE OF VANILLA L2S

Manta and Mode have fallen below $1B FDV as general-purpose EVM L2s become less appealing to investors.

threadreaderapp.com · 1 min