The Daily Index — Tuesday, August 6, 2024 · TLDR Index

MARKETS & BUSINESS

TLDR Crypto

TLDR Crypto

IN FEC COMPLAINT, MOLLY WHITE ALLEGE COINBASE VIOLATED CAMPAIGN FINANCE LAWS

Public Citizen and Molly White filed a complaint to the Federal Elections Committee (FEC) claiming that Coinbase violated campaign finance laws by donating $25 million to the pro-crypto group Fairshake Super PAC while negotiating government contracts with the DOJ. The complaint argues that Coinbase is a federal contractor due to its current work with the US Marshal Service (a unit within the DOJ), and is thus breaking "pay-to-play" laws.

theblock.co · 3 min

TLDR Crypto

GUIDE TO BREVIS

Brevis is an EigenLayer-secured ZK coprocessor that enables smart contracts to read historic onchain data. It allows dapps to introduce features like intent-based active liquidity management, loyalty trading programs, and account reputation. Its decentralized prover network and Brevis coChain allow for efficient and trust-minimized ZK-proof validation.

coinbase.com · 3 min

TLDR Crypto

SOME OF THE MOST INTERESTING ROLLUP DESIGNS

This thread highlights some of the most innovative rollups with technological and cultural differentiations from Ethereum. It includes a chain for halal finance, one with an MEV-free crosschain DEX, and another with EVM and SVM apps running in parallel. There are also L2s requiring all users to KYC and designed for banks.

threadreaderapp.com · 3 min

TLDR Crypto

CROSS-L2 ROADMAP IN ONE TWEET

Cross-L2 interoperability problems require considerable effort, but we should quickly achieve a seamless UX across Ethereum-based rollups. Work is being done on chain-specific addresses, cross-L2 sends using liquidity providers, L2 light clients, and replayable account state updates. In Phase 2 of the roadmap, shared key management and proof aggregation will further improve the experience.

threadreaderapp.com · 1 min

TLDR Crypto

HOW BITCOIN HAS VALUE WITHOUT CASH FLOWS

Bitcoin's service is the trustless storage of wealth without relying on a centralized intermediary. Like a company offering a service, if more people want BTC's service and buy the asset, the price increases, and vice versa. There is no centralized entity to collect this value - it accrues to prior BTC holders.

threadreaderapp.com · 2 min

TLDR Crypto

EVALUATING THE CAUSES OF CRYPTO PANIC

Friday saw terrible macro signals, including the 10-year Treasury rate falling 40bps and poor equity performance, but there will likely be a rate cut in September, and it is still an election year. Jump Crypto sold hundreds of millions of ETH in a short period, contributing to the rapid price decline, and the negative ETF flows are hurting the market in the short term but necessary for new capital flows in the long term. Though a democratic election is perceived to hurt crypto, the Middle East tensions may not matter in the long term, and the Mt Gox and Genesis distributions are nearly complete.

threadreaderapp.com · 2 min

TLDR Crypto

COULD A CRYPTO APP BE THE ANSWER FOR STRUGGLING RESTAURANTS?

Blackbird aims to recharge the restaurant industry by integrating a crypto-based reward system ($FLY) that rewards users for dining check-ins, creating an interconnected, circular economy among participating restaurants. Although the app has been praised for its simple, consumer focused UX, many restaurant operators are hesitant about the crypto aspect, preferring traditional loyalty methods. Most restaurants do not currently accept $FLY, which could limit the app's impact. However, restaurant operators frequently praise the app's ability to help them better understand and reward customer loyalty.

time.com · 10 min

TLDR Crypto

VENTURE VS LIQUID

Solana ecosystem founders should prioritize community participation over lower-tier VCs for better long-term success.

threadreaderapp.com · 1 min

TLDR Crypto

MOONWELL PROCESS $4M IN LIQUIDATIONS

Moonwell founder, Luke Youngblood, says that onchain finance protocols like Moonwell will disrupt TradFi solutions, many of which experienced delays or slight issues, because they are able to process transactions without any downtime.

threadreaderapp.com · 1 min

TLDR Crypto

POLYMARKET BETTORS THINK BITCOIN WILL GO BELOW $45,000 BEFORE SEPTEMBER

At the time of writing, 41% of Polymarket traders believe that the BTC price will drop below $45K before September, highlighting a large shift in sentiment from earlier predictions as the BTC price fell sharply amid a broader market sell-off.

decrypt.co · 3 min

TLDR Crypto

WHAT ARE DATACHAINS AND WHY DO WE NEED THEM?

A datachain is optimized for reliably storing data, providing economic or cryptographic guarantees of stored information.

threadreaderapp.com · 1 min