TLDR CRYPTO 2024-02-26

$30 BILLION RIA PLATFORM CARSON GROUP APPROVES TO OFFER SPOT BITCOIN ETFS TO CLIENTS

Carson Group, a $30 billion investment advisory platform, is set to offer four spot Bitcoin ETFs to its clients, greenlighting options from BlackRock, Fidelity, Bitwise, and Franklin Templeton. It based its selections on AUM, trading volume, and cost-effectiveness. The move puts Carson Group at the front of the pack amongst RIAs approving spot Bitcoin ETFs, marking a contrast to firms like Vanguard, which blocked clients from buying these SEC-approved ETFs.

CITIBANK EXPLORES TOKENIZATION OF PRIVATE EQUITY FUNDS

Citibank, in partnership with WisdomTree and Wellington Capital, has successfully simulated the tokenization of a private equity fund using blockchain technology. The process proves that tokenization is possible in a controlled environment, can remain legally compliant, and is compatible with existing banking systems. The move could potentially introduce efficiencies into the $6 trillion private equity industry. The success of this test will inform Citibank's decisions about offering related services.

PARCEL TO LAUNCH PRCL TOKEN

Parcel is set to launch its token PRCL in April, to further decentralize its ecosystem. Token holders will participate in governance and have improved data and trading utility. Initially, 7-8% of the total one billion tokens will be in circulation. PRCL will give access to high-grade real estate data and future incentive programs. Eligibility for the initial community airdrop can be verified on Parcl's website.

UNISWAP FOUNDATION PROPOSAL SUGGESTS TURNING ON REWARDS FOR UNI TOKEN HOLDERS

Uniswap put out a proposal to modify the governance of its DEX, including adjusting the fee structure to benefit users who delegate and stake their UNI tokens. The proposal will be put to a vote on March 1, followed by an on-chain vote on March 8. This was a huge shift for Uniswap and for governance tokens in general, as very few tokens actually allow holders to participate in the revenues of the protocol. Many are speculating that this indicates positive regulatory progress in the background and could lead to more protocols choosing to include token holders in fee-sharing mechanisms.

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HOW TO MAKE AN INCOME FLYWHEEL ON PERPETUAL EXCHANGES

This thread explains how to create an income flywheel using perpetual DEXs. It is possible to go both long and short on two different DEXs, leveraging the funding rates by emulating the strategy that the newly launched stablecoin protocol Ethena is implementing. The key is to pick exchanges that are profitable, offer good tokenomics, and provide good delta through arbitrage. Currently, Vertex and HMX are the author’s top picks owing to their stable income, continuous tech development, and beneficial tokenomics.

HOW TO CATCH A FEW 20X TO 100X COINS DURING THE NEXT BULL RUN?

This post provides a detailed analysis of the various trends, strategies, and factors that influenced the success of different cryptocurrencies during the 2021 bull run. Ideas like investment timing, understanding market rotations, identifying emerging narratives, recognizing high-yield scenarios, and main character phenomena all played important roles last cycle. By studying these patterns, traders can better prepare for future cryptocurrency bull runs.

AI X CRYPTO PRIMER (1 HOUR READ)

This is a comprehensive overview of projects and potential use cases at the intersection of AI and cryptocurrency. It demonstrates the broad applicability and potential of these technologies across various domains. Potential projects range from enhancing DeFi experiences to revolutionizing game development, optimizing content creation, improving data privacy, and expanding blockchain capabilities through AI-driven analysis and secure computational networks.

ZKML - THE NEXT BIG NARRATIVE IN AI

The combination of Zero Knowledge Proofs with machine learning, known as ZkML, has the potential to become one of the next big narratives. ZKPs allow those building machine learning models to conduct inferences without exposing the data used but still ensuring computational correctness. They also help tackle privacy concerns like membership inference attacks and model inversion attacks. ZkML infrastructure is already being developed by several notable startups in the space, which could give rise to a hype cycle for this tech.

AVALANCHE BACK ONLINE AFTER INSCRIPTIONS MINT TRIGGERS SIX-HOUR OUTAGE

Avalanche experienced a six-hour outage on Friday due to a bug triggered by high demand during an inscription mint. The bug was fixed and the network has been operational without delay since.

ANOTHER VC PERSPECTIVE ON WHERE WE ARE IN THE CYCLE

This thread from a notable crypto VC provides a perspective on where he thinks crypto venture is in this cycle. He notes that deals are getting more and more competitive, especially on the infrastructure side, and that some FOMO is even setting in.

EIGENLAYER OVERVIEW

This thread from Coinbase provides a good primer on EigenLayer, which announced a $100 million raise from a16z last week, and how it works

OVERVIEW OF THE TAO SUBNET ECOSYSTEM

This thread provides a great overview of TAO and how TAO subnets work, including background on TAO, TAOs architecture, TAO mining, its tokenomics, and more.

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