TLDR Index
TLDR Crypto

TLDR CRYPTO 2023-08-22

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01MARKETS & BUSINESS

COINBASE BUYS STAKE IN CIRCLE, DISSOLVING USDC ISSUER CENTRE

Coinbase has acquired a stake in Circle, dissolving the Centre Consortium which issues the USDC stablecoin. Now, Circle will continue independently as the sole issuer of USDC. Revenue from interest on the dollar reserves backing USDC will now be split equally between the two companies. Circle also plans to launch USDC on six additional blockchains by the end of October. This is yet another example of Coinbase’s shift away from trading commission revenue toward a diversified revenue mix.

decrypt.co2 min read

FRIEND.TECH RENAMES ITS TOKEN—BUT IS IT EVEN LEGAL?

Friend.tech has captured the attention of the crypto world and mainstream influencers alike, generating over $3 million in fees over the past week. However, the app, still in beta, originally used the term “shares” to refer to the token you bought to gain access to user chat rooms. The term is almost always used to refer to ownership in companies, so it could potentially mislead users and easily raise red flags for regulators, something many people called attention to. In light of this, the app, still gaining steam, has recoined the term for access to user chat rooms as “keys”.

decrypt.co3 min read

02INNOVATION & LAUNCHES

SALALAH FREE ZONE

Oman has unveiled a new, $350 million Bitcoin mining facility in the Salalah Free Zone. The Ministry of Transport, Communications, and Information Technology initiated the project, aiming to establish Oman as a leading global mining hub. Overseen by Exahertz International, the facility is expected to create new jobs and make significant strides in the local economy. Additionally, a similar project has kicked off in Kyrgyzstan, using hydroelectric power for mining operations.

cryptopolitan.com3 min read

SILO LLAMA

Silo Finance has launched Silo Llama, utilizing $crvUSD as its sole bridge asset. It allows $crvUSD lenders to lend or borrow against any token asset, with increased capital efficiency, yield opportunities, and utility. The protocol uses a risk-isolated design, ensuring depositor security and allowing lenders to control their risk exposure. The interest rate model is adjustable depending on the collateral's risk, ensuring fair compensation. The product is now live with various silos including $CRV, $LINK, $rETH, and $OHM.

medium.com5 min read

03GUIDES & TUTORIALS

THE SOLANA READING LIST: CURATED LIST OF USEFUL SOLANA RESOURCES

The bear market is a great time to research different chains and protocols and form new theses or strategies for a potential bull market. This reading list is a fantastic resource to get started with if you’re doing this and Solana is one of the chains you’re wanting to learn more about. From a broad overview to historical context to technical topics, this list is everything you need to know to get a feel for Solana.

mertimus.com3 min read

DIVING INTO PROGRAM VERIFICATION WITH ZKPROOFS

How do zkProofs work and what do they look like on-chain? zkProofs can be an intimidating and confusing topic but seeing how they actually function makes it more intuitive. This thread takes a deep dive on this topic and tracks a Worldcoin zk Verifier transaction, where instead of submitting thousands of ids on chain, the protocol submits a smaller zkProof. It then explains how to check the Verification Key for this transaction.

twitter.com4 min read

04MISCELLANEOUS

BEING ONBRAND, ONCHAIN

This article from the Collab + Currency team examines whether brands' ventures into web3 so far have been successful. Brands such as Tiffany & Co, Reddit, and DraftKings have been experimenting with blockchain-based initiatives like NFT collections and avatar collectibles. Some of these brands are missing the mark, while others are capitalizing on web3's potential to foster culture and community, an area where traditional brands have been constrained. The article goes on to explain that beyond the tech, this is one of the most important benefits of crypto for brands.

medium.com10 min read

WHY CRYPTO COULD 10X IN THE COMING YEARS

This thread outlines 10 reasons why crypto has the potential for a 10x in the coming years, pointing to factors like the rise of stablecoins, growing institutional adoption, advancements in financial technology, increasing societal use of crypto, and a consistent influx of intellectual capital into the crypto space.

twitter.com7 min read