Daily Edition · Page 5

THE DAILY INDEX

Technology, AI, software, security, crypto and business

MARKETS & BUSINESS

TLDR Crypto

BITCOIN HASHRATE HITS ALL-TIME HIGH AS PUBLICLY-LISTED MINERS' SHARE OF THE NETWORK PEAKS

Bitcoin's hash rate has reached a new all-time high of 703 EH/s, a 13% increase since the April 2024 halving. Publicly listed mining companies control 28.9% of the total hash rate. With BTC's price appreciation and increased transaction fees from Runes, mining profitability has increased, with the hash price reaching $50 per PH/s. The growing computational power will result in an approximately 4% difficulty increase on October 23.

INTRODUCING SCROLL'S FIRST AIRDROP: A CELEBRATION OF THE GLOBAL COMMUNITY

Scroll is launching its first airdrop, distributing 7% of its tokens to reward contributors who have supported its growth across various categories (e.g., on-chain participants, ecosystem project builders, industry contributors, and global community members). This initiative aims to build a decentralized and worldwide ecosystem by recognizing and incentivizing participation in Scroll's protocol and community.

PHANTOM TOKENOMICS, INSIDE THE OBSCURE DAEDALUS LABYRINTH

This post exposes the prevalence of hidden “backdoor token deals” in the crypto industry. It introduces the concept of “phantom tokenomics” to describe how onchain tokenomics often misrepresent the accurate offchain distribution. There are various types of these deals, including advisory allocations, market-making allocations, and OTC rounds, all of which can alter the real tokenomics of a project. Founders should enhance transparency with onchain vesting contracts, locking insiders' staking rewards, and focus on product development over exchange listings.

AVAX VALUE CAPTURE PROBLEM

Even with the Off the Grid game reaching hundreds of thousands of users, Avalanche struggles to capture value from its pay-as-you-go for L1 offerings. This model makes Avalanche attractive for new L1 deployments, particularly in gaming and institutional sectors. However, this comes at the cost of reduced revenue capture, especially as the main C-Chain activity has declined. The pivot to becoming a hub for L1s, while compelling for demand, compromises long-term value accrual.

TLDR IndexPage 5