TLDR CRYPTO 2024-02-06

MULTICOIN CAPITAL IS IN TALKS TO SELL ROUGHLY $100M FTX BANKRUPTCY CLAIM

Crypto venture firm Multicoin Capital is reportedly considering selling its FTX bankruptcy claim valued at approximately $100 million. This comes as the price of FTX bankruptcy claims has risen, with sales reaching up to 70 to 80 cents on the dollar. As the claims get closer to reaching breakeven, more firms and individuals are considering selling their claims to be able to put their capital to work instead of waiting out the claims process.

MINERS’ BITCOIN PRODUCTION DIPPED IN JANUARY AMID ENERGY CURTAILMENT

Severe winter storms have caused significant month-over-month reductions in Bitcoin production from miners. Major mining firms, such as Marathon Digital, Core Scientific, and Riot Platforms reported decreases in their output due to increased energy demands and related outages. Despite the downturn, some companies are planning to retain a larger proportion of their Bitcoin due to the upcoming 'Bitcoin halving', which will decrease blockchain mining rewards.

PANDORA: THE FIRST TOKEN BUILT ON THE ERC404 TOKEN STANDARD

Pandora recently launched as the first token developed on a new experimental token standard, ERC404. This unique standard, which combines elements of ERC20s and ERC721s, supports native liquidity and fractionalization, and could pave the way for other future improvements in NFT collections. Although the standard has only recently been created, it has generated plenty of excitement in the NFT ecosystem for the potential innovations it could unlock.

WEB REGISTRY GODADDY, ETHEREUM NAME SERVICE CONNECT DOMAIN NAMES WITH CRYPTO WALLETS

GoDaddy, a leading internet domain registry, has partnered with ENS, a domain name protocol built on Ethereum, allowing users to link their web domains to their ENS addresses for free. Despite an ongoing court case between ENS and GoDaddy, both parties see the potential benefit of working with each other. GoDaddy even hopes to integrate other blockchains in the future.

FRAMES: THE LATEST CRYPTO DARLING?

Farcaster, a decentralized social protocol, recently introduced Frames, a feature allowing users to create mini apps within their Farcaster posts. Based on Facebook's OpenGraph Protocol, Frames streamline user interaction with content, eliminating the need for app or tab switching. They can enable a variety of use cases such as NFT mints, polls, video interaction, games, and shopping, simplifying the user experience.

A SHORT WRITE-UP ON RAAS

Dymension is launching its mainnet and a native token with an innovative airdrop approach, rewarding active users across several ecosystems. Dymension (the protocol) brings a fresh approach to blockchain scalability issues by introducing RollApps - modular rollups on the Cosmos network. This is an interesting innovation for rollups, which are designed to improve transaction efficiency, that could allow more projects to deploy their own rollups.

ON INCREASING THE BLOCK GAS LIMIT

This post details a proposal to enhance Ethereum's efficiency by optimizing block size, chiefly by increasing the price for nonzero calldata bytes and the block gas limit. The changes aim to shrink and stabilize block size, facilitating further blobs addition and easing the transition to using blobs for data availability. It also prepares Ethereum for Verkle upgrades and reduces the risk of reorganizing blocks. Modification options called out in the post focus on varying calldata costs, introducing 2D pricing for calldata, and offering an 'EVM Loyalty Bonus'.

FREEDOM TO EXIT

This article discusses the concept of data ownership and freedom to exit - the ability to transfer personal data from one service to another. Currently, many Web 2.0 platforms do not allow this and have even been known to deplatform individuals, leaving them without their followings. Three potential solutions include decentralized protocols that distribute data across multiple peers, local-first data which stores data directly with the user, and legal agreements that ensure a user's right to access their own data.

ROLL WITH MOVE: SECURE, INSTANT RANDOMNESS ON APTOS

Aptos introduced Aptos Roll, an instant on-chain randomness API for PoS blockchains that enables secure and immediate random number generation for decentralized applications.

SOLANA-FOCUSED PHANTOM WALLET SURPASSES COINBASE IN APP STORE DOWNLOADS

On the back of growth in the Solana ecosystem from its recent price surge, high-profile airdrops, and memecoin frenzy of the past few months, Phantom Wallet has surpassed Coinbase in downloads in the app store.

FRAMES LAUNCH

Farcaster's daily users leapt tenfold after launching Frames, driving record user activity on the platform.

ON DOING YOUR OWN RESEARCH

Individuals should do their own research and take responsibility for their trading decisions. People should think for themselves and about their own situations when trading.

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