The Daily Index — Friday, August 9, 2024

MARKETS & BUSINESS

TLDR Crypto

CRYPTO EXECUTIVES MEET WHITE HOUSE OFFICIALS TO DISCUSS POLICY, GRIEVANCES DURING VIRTUAL ROUNDTABLE

Crypto executives and top White House officials, including U.S. Deputy Secretary of the Treasury Wally Adeyemo and National Economic Council Director Lael Brainard, met virtually to discuss crypto policy, focusing on regulatory concerns, economic impact, and the upcoming election's implications for the industry. This meeting, unlike the previous one, included senior figures directly responsible for crypto policy, leading to a more productive dialogue on future regulations.

links.tldrnewsletter.com · 4 min

TLDR Crypto

2 CHANGES TO THE PUMP FUN MECHANISM (IN BETA)

Two significant updates are being introduced to the pump fun mechanism in beta. First, coin creation is now free, with the cost being transferred to the first buyer instead of the creator. Second, coin creators will receive 0.5 SOL (around $80) once their coin completes its bonding curve, providing a financial incentive for developers to achieve 100% completion.

threadreaderapp.com · 1 min

TLDR Crypto

5 SIGNIFICANT UPGRADES TO JLP MULTIPLY

JLP Multiply on Solana has received major upgrades, solidifying its position as the top yield product on the platform. Key improvements include tracking Historical Net APY at different leverage levels, real-time PnL tracking, enhanced efficiency with Single Route, and the ability to monitor your position's Net Value over time.

threadreaderapp.com · 1 min

TLDR Crypto

A16Z TOKEN DO & DON'T

a16z discusses token launch strategies, compensation considerations, financial modeling, and provides details on how to structure deals to avoid predatory terms. They also include resources for how to better plan and execute token launches.

a16zcrypto.com · 7 min

TLDR Crypto

DEPIN CONTINUES TO GROW

The DePIN (Decentralized Physical Infrastructure Networks) sector has seen significant growth, with fundraising up 296% and the total market cap reaching $20 billion, a 400% increase year-over-year. Despite this, revenue growth lags, indicating demand constraints, but investors are betting on potential with major investments in DePIN-tailored Layer 1 networks like IoTeX and Peaq.

threadreaderapp.com · 1 min

TLDR Crypto

CRITICAL VULNERABILITY ON SOLANA PATCHED

A critical security vulnerability in Solana was addressed through a coordinated and confidential patching process, with 70% of the network's stake patched before public disclosure. The Solana Foundation, Anza, Jito, and other core contributors reached out to validators personally and through various communication platforms, ensuring a rapid and secure update. This swift response showcases the dedication and effectiveness of the Solana community and engineering teams in maintaining network security.

threadreaderapp.com · 3 min

TLDR Crypto

DONALD TRUMP JR. SAYS HE LOVES MEMECOINS BUT NEW PROJECT IS SOMETHING ‘MUCH BIGGER'

During a Q&A, Donald Trump Jr. discussed his appreciation for memecoins but emphasized that his new project is more substantial and distinct from the memecoin culture. He clarified that the RTR token, which briefly spiked due to rumors of Trump family involvement, is unrelated to his efforts. His project will focus on addressing banking inequalities through a decentralized finance platform, potentially named "World Liberty," with a long-term vision beyond typical meme tokens.

threadreaderapp.com · 1 min

TLDR Crypto

ANNOUNCING BRIDGED USDC AS A CUSTOM GAS TOKEN FOR ORBIT CHAINS

Arbitrum has announced that bridged USDC can now be used as a custom gas token on Arbitrum Orbit chains, offering users easier payments, price stability, and reduced gas price volatility.

threadreaderapp.com · 2 min

TLDR Crypto

OPERATION CHOKEPOINT 2.0

This thread highlights concerns over "Operation Chokepoint 2.0," alleging that U.S. regulators unfairly target the crypto industry by leveraging vague BSA/AML standards, leading to the exclusion of crypto from the banking system.

threadreaderapp.com · 5 min

TLDR Crypto

ETHEREUM BLOBSPACE LOWER THAN EXPECTED

An Ethereum researcher accurately predicted that demand for L2 blob data would be much lower than expected and take 1-2 years to reach sustainable targets.

threadreaderapp.com · 2 min

TLDR Crypto

REASONS TO BE EXCITED ABOUT CRYPTO

The chart shows the monthly active users (MAUs) for the top 20 blockchain projects, with Solana posting the highest numbers closely followed by Tron and Base.

threadreaderapp.com · 2 min

TLDR Crypto

MONTENEGRIN COURT ONCE AGAIN POSTPONES DO KWON'S EXTRADITION TO SOUTH KOREA

A Montenegrin court has again postponed extraditing Do Kwon, former Terraform Labs CEO, to South Korea as it awaits a decision from the Supreme State Prosecutor's Office on the Request for Protection of Legality.

links.tldrnewsletter.com · 1 min