The Daily Index — Monday, August 12, 2024 · TLDR Index

MARKETS & BUSINESS

TLDR Crypto

TLDR Crypto

AMIDST RECORD PROFITS, TETHER SET TO DOUBLE FTES

Tether (USDT stablecoin issuer) plans to double its workforce to around 200 employees by mid-2025, focusing on expanding its development, investment, and compliance teams in response to significant growth and record profits. This strategic expansion comes as Tether continues to dominate the stablecoin market, despite ongoing competition and past controversies over its reserves.

theblock.co · 2 min

TLDR Crypto

$FLY: DESIGNED TO MAKE RESTAURANTS SOAR

$FLY introduces cross-restaurant loyalty rewards and allows restaurants to save money on card processing fees by accepting it for purchases. Blackbird's recently updated Flypaper introduces Flynet, an upcoming L3 powered by the F2 token that will be the hub of Blackbird activity. F2 will be distributed based on FLY usage. Blackbird hopes to commoditize the experience of being a restaurant “regular” by sharing data within its network and creating an interaction flywheel.

thesupersonic.blackbird.xyz · 3 min

TLDR Crypto

CASH FLOWS FOR APP TOKENS: A NEW MODEL

App tokens historically have had problems with value capture, proper governance, and regulatory compliance. a16z Crypto has designed a fee tracing mechanism where pools can distribute fees compliant with a token holder's regulatory jurisdiction. A curator entity could handle finding compliant frontends and users for a fee, thus removing any additional burden from protocol governance.

threadreaderapp.com · 3 min

TLDR Crypto

CONSUMER NOTES

This edition of Consumer Notes highlights key developments in consumer crypto, including the rise of innovative platforms like Makememe.now, marginfi's The Arena, and dumpy.fun, which are pushing the boundaries of meme coins. It also covers major updates such as the launch of the Pudgy Penguin Consumer Chain on Abstract's testnet, Telegram's new crypto-integrated browser and mini-app store, and Blackbird's Flynet, a blockchain-based payment system aimed at revolutionizing restaurant loyalty programs.

x.com · 9 min

TLDR Crypto

THE ZK MARKET MAP

This market map from Electric Capital highlights over 250 crypto projects working in the zero-knowledge space. It is categorized based on a spectrum of core tech to user-facing, further subcategorized into specific use cases. Years of ZK research are coming to life by advancing scalability and trustlessness and introducing new use cases across all of crypto. 80% of projects are infrastructure-focused, though the application sector is expected to grow.

threadreaderapp.com · 5 min

TLDR Crypto

MAKERDAO PROPOSES DELISTING WBTC AFTER ANNOUNCED CUSTODY CHANGE

On August 9th, Bitgo announced it will transfer custody of WBTC to a joint venture with jurisdictions in Hong Kong and Singapore as part of a partnership with Justin Sun and the Tron ecosystem. In response, and due to previously-acquired Sun projects faltering, BA Labs has proposed removing WBTC as collateral on Maker and SparkLend. tBTC is being suggested as an alternative.

threadreaderapp.com · 2 min

TLDR Crypto

ADIDAS LAUNCHES EXCLUSIVE DOODLES APPAREL ALONGSIDE PHARRELL SONG

Adidas has partnered with NFT collection Doodles to create collectible packs redeemable for physical apparel. The packs, retailing for $5, could include digital wearables or a tracksuit and shoes with art of Deysi, the mascot from the Doodles song by Pharrell Williams and Coi Leray.

decrypt.co · 2 min

TLDR Crypto

US CARRIERS TESTING OFFLOADING TRAFFIC TO HELIUM MOBILE NETWORK

Two prominent US mobile network carriers are testing Helium's MOBILE network to offload data traffic.

threadreaderapp.com · 1 min

TLDR Crypto

PUMPDOTFUN PIPELINE IS SMALL

@pumpdotfun shared a stark update from the trenches of the meme coin world: out of 16,357 tokens launched in the past 24 hours, only 175 reached Raydium, and a mere 19 remain above a 69k market cap—resulting in a slim 0.12% success rate from launch to profitability.

threadreaderapp.com · 1 min

TLDR Crypto

RIPPLE BEGINS TESTING ITS STABLECOIN RLUSD ON XRP LEDGER AND ETHEREUM

Ripple has started testing its stablecoin, Ripple USD (RLUSD), on both the XRP Ledger and Ethereum networks.

theblock.co · 1 min

TLDR Crypto

ISSUES WITH JUPITER EXCHANGE'S SPOT PRODUCT

Jupiter Exchange is tackling issues with its spot product, where efforts to protect users, like dynamic slippage and gas settings, have caused frustration during volatility, and its free quote API is being abused.

threadreaderapp.com · 2 min