The Daily Index — Friday, August 16, 2024

MARKETS & BUSINESS

TLDR Crypto

THE TRUMPS' NEW CRYPTO VENTURE REPORTEDLY INVOLVES DIGITAL REAL ESTATE

The Trump family has launched a new crypto venture focused on digital real estate, with Eric Trump highlighting its potential to democratize access to financial services by offering instant, math-based loan approvals. This move is part of their broader effort to challenge traditional banking systems, which they claim have discriminated against them and many other Americans.

thedefiant.io · 2 min

TLDR Crypto

EIGENLAYER DROVE OTHER PROJECTS' AIRDROPS TO ITS EMPLOYEES

Eigen Labs, a prominent crypto startup, has come under scrutiny for distributing its employees' wallet addresses to ecosystem projects, leading to millions of dollars in airdrop payouts. While some teams requested this list, others felt pressured to comply, raising concerns about conflicts of interest. In response, Eigen Labs and its associated foundation have since banned such payouts to maintain trust and transparency.

coindesk.com · 9 min

TLDR Crypto

SWEEP: A PLATFORM TO BET ON STREAMERS' GAMES

Sweep is a free-to-play platform where viewers can win money by predicting outcomes in their favorite streamers' games, enhancing viewer engagement and interaction. With a focus on creator control and feedback, Sweep has already shown promising results in increasing viewer participation and plans to continue evolving based on community input.

threadreaderapp.com · 1 min

TLDR Crypto

OKX TO BRING SOLANA'S BLINKS TO ETHEREUM

OKX is introducing Solana's "Blinks" technology, which enables shareable URLs that execute on-chain transactions, to all Ethereum-compatible chains via its multi-chain wallet. This innovation allows users to interact with blockchain-based applications directly on websites or social platforms without leaving the site, enhancing the convenience and accessibility of on-chain actions across different ecosystems.

theblock.co · 1 min

TLDR Crypto

DISPELLING BITTENSOR FUD

At the 2024 DePIN Summit, it was revealed that while many have heard of Bittensor, only a small fraction understand its subnet operations, due to limited visibility and communication. With the upcoming dTAO incentive structure, subnet teams need to shift their focus toward broader marketing to attract more participants and stay competitive.

samikassab.com · 2 min

TLDR Crypto

THE BEARISH AND BULLISH CASE FOR ETHEREUM

Bearish factors for ETH include its underperformance compared to Bitcoin and Solana, a complex value proposition narrative, liquidity fragmentation from L2s, and falling revenue. Bullish arguments highlight its mature DeFi ecosystem, decentralization, security, developer community, and adoption from institutions like BlackRock. This article discusses the upcoming Pectra upgrade, which will improve UX through account abstraction and increase scalability. TVL dominance and ETF flows are key metrics to watch.

threadreaderapp.com · 12 min

TLDR Crypto

HOW TO NUKE $9 BILLION – WBTC

The recent announcement of BitGo's partnership with Justin Sun-backed BiT Global, which gives the firm control over 2 of 3 WBTC private keys, has sparked panic in the crypto community due to Sun's controversial history. Concerns about increased custody risk and potential mismanagement have led to calls for WBTC delisting as collateral, with many urging WBTC holders to exit quickly before the situation deteriorates further.

x.com · 3 min

TLDR Crypto

NORTH KOREAN DEVS INFILTRATING CRYPTO PROJECTS

A crypto team unknowingly hired North Korean IT workers with fake identities, resulting in a $1.3M theft from their treasury. An investigation uncovered 25+ projects employing related developers. These workers, who often use fake IDs and coordinated referrals, laundered the funds and are earning up to $500K monthly across multiple projects.

threadreaderapp.com · 4 min

TLDR Crypto

IS EIGENLAYER'S ECONOMIC MODEL BROKEN?

EigenLayer's economic model is fundamentally flawed, particularly in how it bootstraps new decentralized infrastructure protocols. It effectively requires AVSs to forfeit token utility and revenue to restakers, hurting a protocol's ability to grow and sustain an ecosystem. Its pivot towards supporting AVS tokens as restaked assets is an acknowledgment of its “broken” core economic model. EigenLayer will likely remain a subsidized yield farm for ETH stakers.

threadreaderapp.com · 4 min

TLDR Crypto

THE DANGER OF CROSS-CHAIN HONEY POTS

Cross-chain protocols like LayerZero and Hyperlane are relying on questionable security setups, putting over $10 billion at risk.

threadreaderapp.com · 8 min

TLDR Crypto

MEMECOINS RANKED BY TOP MARKET CAP REACHED

The chart shows a series of memecoins and their top market caps.

threadreaderapp.com · 1 min

TLDR Crypto

“TAP TO PAY” ON BASE MEANS YOUR ACTIVITY IS PERMANENTLY VISIBLE TO ANYONE

The upcoming integration of USDC payments via tap-to-pay on iPhones has sparked concerns about privacy and security in blockchain transactions.

threadreaderapp.com · 1 min

TLDR Crypto

HYPERLIQUID IS CHEAPER FOR TRADING THAN BINANCE

Hyperliquid is cheaper for trading than Binance, despite having slightly worse slippage.

threadreaderapp.com · 1 min

TLDR Crypto

TRACKING DEXSCREENER FEES ON DEFILLAMA

DEXscreener is earning $150-250k daily by charging $300 per token for adding details like Telegram links and images.

threadreaderapp.com · 1 min

TLDR Crypto

GROWING EXHAUSTION AMONGST CRYPTO FOUNDERS

Crypto founders are growing weary due to a number of factors: stagnant user growth, the dominance of speculative activities, pervasive industry toxicity, and the trade-off between UX improvements and decentralization.

threadreaderapp.com · 1 min