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TLDR Crypto

TLDR CRYPTO 2023-11-06

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01MARKETS & BUSINESS

HONG KONG MULLS ALLOWING SPOT CRYPTO ETFS IN PURSUIT OF ASIA HUB

Hong Kong is considering the possibility of permitting ETFs that invest directly into cryptocurrencies. This move, which would be aimed at retail investors, comes as officials aim to make the city the main digital-asset hub in the Asia-Pacific region. Securities and Futures Commission CEO, Julia Leung, stated that proposals that utilize innovative tech to enhance efficiency and customer experience are welcome, provided new risks are adequately addressed.

finance.yahoo.com4 min read

OPENSEA SLASHES NFT MARKETPLACE STAFF BY 50%

OpenSea confirmed a reduction of 50% of its total workforce as part of structural and operational changes. The goal of this move is to establish a more streamlined version of the OpenSea platform. CEO Devin Finzer shared the company's revised goal to lead and innovate in the space while launching an upgraded version of its platform.

decrypt.co4 min read

02INNOVATION & LAUNCHES

BORED APE CREATOR YUGA LABS AND MAGIC EDEN LAUNCHING ETHEREUM NFT MARKETPLACE THAT ENFORCES ROYALTIES

Magic Eden announced plans to launch a new Ethereum-based marketplace with Yuga Labs by the end of the year. The platform will use smart contracts to ensure creator royalties are honored during secondary market sales. This development comes in response to some platforms failing to honor creator fees as NFT sales took a major hit over the past year. With this move, Magic Eden reaffirmed its commitment to supporting creators and addressing potential loopholes in their new solution.

decrypt.co6 min read

BUTTER FINANCE: THE PREMIER DECENTRALIZED META-GOVERNANCE AND YIELD-BOOSTING PLATFORM FOR PANCAKESWAP’S UPCOMING VECAKE MODEL

DeFi platform Butter Finance is set to enhance yield and governance for PancakeSwap’s upcoming veCAKE model. Butter Finance aims to serve a large, diverse international user base, facilitating sophisticated liquidity strategies and lucrative protocol access. Its function is to aggregate veCAKE and democratize the reward boost across liquidity providers, which will result in more CAKE being locked and optimally allocated. Butter will launch with support from multiple well-known DeFi stakeholders.

twitter.com3 min read

03GUIDES & TUTORIALS

AN UNFINISHED GUIDE TO ZK ROLLUPS

This article provides an in-depth guide to understanding ZK proofs and ZK rollups. It covers the fundamentals of ZK proofs, practical examples, and the intricacies of how ZK rollups operate. It also explores how these solutions interact with the Ethereum Virtual Machine. The guide is part of a series aimed at shedding light on the complex world of zero-knowledge cryptography in blockchain technology.

mirror.xyz10 min read

COIN BULL CASE

This thread makes a bull case for Coinbase. It argues that Coinbase is well-positioned to capture a substantial increase in volume due to its retail-friendly platform, high beta exposure to the crypto market, expansion into international markets, steady progress towards profitability, and assortment of offerings. However, the potential regulatory environment in the US and outstanding cases the company faces remain a concern.

twitter.com4 min read

04MISCELLANEOUS

CHAINLIGHT SAVED ZKSYNC ERA FROM $1.9B EXPLOIT

Blockchain security auditor ChainLight discovered a vulnerability in the zkSync Era protocol that could have led to a potential $1.9 billion loss. The flaw was located in the zk-circuits, which verify the integrity of transactions. Exploitation would have allowed an attacker to mimic legal transactions. Although exploiting the flaw would be very challenging due to the high security level required, the Matter Labs team responded, swiftly fixing the issue, and ChainLight was rewarded with 50,000 USDC for finding the bug.

blockworks.co2 min read

A GUIDE TO THIS CYCLE

This post lays out some helpful tips to keep in mind during this cycle, especially during the bull market. It suggests buying support during dips and pullbacks, warns against excessive leverage, and urges traders to constantly scan for opportunities. It predicts new waves of liquidity from Bitcoin and Ethereum spot ETFs coming online, Solana’s potential during this cycle, and the impact of potential DOJ regulations.

twitter.com2 min read