TLDR CryptoFebruary 8, 2023

TLDR Crypto 2023-02-08

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01MARKETS & BUSINESS

IS DCG OFFLOADING GRAYSCALE SHARES A SIGN OF IMPENDING TROUBLE?

The Digital Currency Group is attempting to repay Genesis' creditors by selling some of its assets. This includes its stake in Grayscale and its Ethereum, Litecoin, Bitcoin Cash, and Ethereum Classic Trusts. The Grayscale stocks are being sold at a discount. Grayscale manages the Grayscale Bitcoin Trust (GBTC), which holds over $14.5 billion in assets. GBTC is trading at a discount compared to Bitcoin due to the crypto winter.

beincrypto.com2 min read

CRYPTOPUNK, BORED APE SELL FOR OVER $1M EACH AS NFT MARKET REBOUNDS

Two single Ethereum NFTs have each sold for more than $1 million worth of ETH. CryptoPunk #5066 was sold on Monday for 857 ETH by Kevin Rose and Bored Ape Yacht Club #7090 was sold for 800 ETH by Web3 creator and collector Jimmy McNelis. The buyers of both NFTs are unknown. NFT sales on Ethereum topped $209 million over the past seven days.

decrypt.co3 min read

02INNOVATION & LAUNCHES

INTRODUCING LIDO V2 — NEXT STEP IN DECENTRALIZATION

This article presents the proposal for Lido V2. Lido V2 will be Lido's largest upgrade yet. Its two main focal points are a new Staking Router and withdrawals. The Staking Router will allow anyone to develop on-ramps for new Node Operators. stETH holders will be able to withdraw from Lido at a 1:1 ratio when withdrawals are implemented.

blog.lido.fi10 min read

DIGITAL POUNDS

The UK will likely impose a holding limit between £10,000 to £20,000 for its new central bank digital currency (CBDC) when it is released. The limit is aimed at ensuring that people do not withdraw too much money from the traditional banking sector to purchase the CBDC. A consultation period for discussing the UK's adoption of the CBDC is open until June. A CBDC could prevent tech companies from creating their own coins, allow for cheaper and faster payments, and make money programmable so it can interact with smart contracts.

archive.ph6 min read

03GUIDES & TUTORIALS

ZK ROLLUPS

Bytecode-equivalent zkEVMs have EVM opcodes mapped to circuits, making development much easier for developers. Language-equivalent zkEVMs use an intermediate VM, resulting in more circuit-friendly programming, but they compile into different bytecode, which means that Solidity contract changes may be required. zkVMs use a custom circuit-friendly VM instead of the EVM, allowing for better performance, but they don't work with Solidity. zk-zk Rollups nest ZK inside of ZK to enable privacy.

twitter.com2 min read

⚡️ A PHILOSOPHY OF SUBTRACTION

This article analyzes the Ethereum Foundation. The Ethereum Foundation is one of the most important and influential organizations that are shaping crypto today. They follow a philosophy of subtraction using a self-minimizing approach. The article looks at what the philosophy of subtraction looks like in practice, whether the philosophy is working, and whether the approach would be effective for other organizations.

reboothq.substack.com15 min read

04MISCELLANEOUS

ARBITRUM TO LET DEVS WORK IN TRADITIONAL PROGRAMMING LANGUAGES

OffChain Labs, the firm behind Arbitrum, has launched an initiative called Stylus designed to let developers deploy programs written in popular computer languages. Stylus will use WebAssembly to enable programs to run on Arbitrum. It will allow programmers to bring their skills to an environment that offers new blockchain-enabled features like permissionless composability. Stylus will still support EVM.

thedefiant.io2 min read

MARKET MAKER HACKS COW SWAP

A hacker exploited CoW Swap on Tuesday and stole $166,000 worth of BNB. The decentralized exchange identified one of its market makers as the hacker. CoW Swap says that user funds are safe and that aprprovals don't need to be revoked. Its settlement contract only stores feeds and it cannot access user funds directly without an order signed by the user.