The Daily Index — Tuesday, September 10, 2024

MARKETS & BUSINESS

TLDR Crypto

TON HITS RECORD TRANSACTION HIGHS POST-DUROV ARREST WHILE TOKEN PRICE PLUMMETS 30%

The TON network saw a sharp rise in activity following Telegram founder Pavel Durov's arrest, with daily transactions spiking by over 160% and active addresses hitting record highs. Despite this surge in usage, the TON token's price has plummeted by 30%, likely influenced by both the arrest and broader market conditions.

theblock.co · 1 min

TLDR Crypto

RABBY INTRODUCES GAS ACCOUNTS

Rabby has launched "GasAccount", a mechanism that simplifies gas fee payments by allowing users to deposit USDT/USDC and automatically pay for gas on any network without holding gas tokens in their addresses. Transactions are processed in seconds with gas fees pre-estimated and charged in USD, with any unused gas remaining in the user's address without additional charges beyond a small transaction fee.

threadreaderapp.com · 1 min

TLDR Crypto

ETHER.FI LAUNCHES CASH CARD

Ether.fi has partnered with Scroll_ZKP to make Scroll's platform the settlement layer for the new Ether.fi Cash credit card, which offers up to 8% cash back on transactions. The card is accepted wherever VISA is and also includes perks like a complimentary pass to the Token2049 conference for certain cardholders. It promises a blend of efficient, cost-effective onchain and real-world utility.

threadreaderapp.com · 1 min

TLDR Crypto

BLOCKCHAINS AS A NEW MEDIUM FOR ENTERTAINMENT

Blockchains have successfully created organic communities and cultures. Though some are purely driven by financial motives, the drama and sense of belonging cannot be overstated, with Ethereum and other chains providing a sense of social alignment. Blockchains are blank canvases for all of society's activities.

threadreaderapp.com · 7 min

TLDR Crypto

HOW TO APPROACH THE KOREAN MARKET

To effectively penetrate the Korean market, crypto projects should try to use the vast trading volume from Korea's major CEXs and engage with local media, advisory, and consulting firms. Tailoring marketing strategies to align with local preferences and trends and respecting the nuanced understanding of Korean investors, is crucial for establishing a strong presence.

threadreaderapp.com · 6 min

TLDR Crypto

DECENTRALIZED ENERGY

Virtual Power Plants (VPPs), which aggregate and coordinate small-scale energy resources across homes and businesses, are emerging as a potential solution to bridge the growing energy supply-demand gap in the US and China. Though they have enormous potential and government support, the market remains nascent, with current projects connecting less than 0.25% of US households. Crypto-enabled DePIN solutions could accelerate adoption with network effects and incentivize participation.

x.com · 5 min

TLDR Crypto

ETHEREUM'S VALUE ACCRUAL EXPLAINED

EF researcher Justin Drake sees the value accrual thesis for ETH as “ETH is money.” He argues it cannot be the settlement layer of the internet without becoming programmable money, and needs to grow to tens of trillions of dollars to provide economic bandwidth, security, and salience. The important metric is not fees but the percentage of ETH used as collateral money.

threadreaderapp.com · 2 min

TLDR Crypto

A16Z ANNOUNCES 2024 FALL CRYPTO STARTUP ACCELERATOR COHORT

a16z's Crypto Startup Accelerator (CSX) Fall 2024 program has launched in New York City with 21 startups from 11 countries participating in an 8-week program featuring lessons from top crypto founders, support from a16z crypto's teams, and networking opportunities.

a16zcrypto.com · 2 min

TLDR Crypto

BITCOIN IS NOW OLDER THAN THE STOCK MARKET

With Bitcoin trading 24/7, it has now accumulated more active trading hours than the stock market since the 1971 Nixon Shock reset its currency.

threadreaderapp.com · 1 min

TLDR Crypto

SOCKET PROTOCOL WHITEPAPER RELEASED

Socket has introduced a chain abstraction solution using Modular Order Flow Auctions (MOFA).

threadreaderapp.com · 2 min

TLDR Crypto

M^0: REARCHITECTING THE STABLECOIN STACK

M^0 is challenging Tether's stablecoin dominance by focusing on incentivizing applications rather than end users.

x.com · 5 min

TLDR Crypto

FRIEND.TECH TEAM RENOUNCES CONTROL OF SMART CONTRACTS FOLLOWING STAGNANT GROWTH

Friend Tech has shut down and transferred control of its smart contracts to a null Ethereum address.

theblock.co · 2 min