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Pantera is raising funds to purchase $250 million worth of SOL from FTX, aiming to buy at a 39% discount from the 30-day average price. This comes following FTX's bankruptcy proceedings, which allow it to sell up to $100 million per week in crypto assets. Pantera would need to hold the tokens for up to four years after purchase as per the deal's condition.
The SEC will delay its decision to approve or disapprove options trading for BlackRock's bitcoin ETF until April 24, allowing for more time to consider the proposal. It has also delayed decisions on allowing Cboe and Miax Pearl to list and trade options on spot bitcoin ETFs, with their deadlines set for the same date.
This paper describes a pioneering design for Automated Market Makers called Auction-Managed AMMs. Addressing informed trader loss and uninformed trader fee revenue optimization issues, this concept allows players to bid to manage pools and dynamically adjust swap fees. The design optimizes transaction fees, benefiting liquidity providers and retail investors and potentially attracting more liquidity than traditional AMMs, thereby enhancing efficiency on DeFi platforms.
Binance has launched a new platform, Futures NEXT, that incentivizes users to accurately predict the next tokens to be listed on its futures exchange. Users can nominate tokens and place bets on them, with successful predictions rewarded through vouchers for futures trading or fee rebates. Binance ensured users that this platform will not influence token listings and is independent of its listing process.
This post compares the concept of Token Toxicity, where stakers don't attack a protocol in fear of depreciating their staked tokens, to Slashing security. Slashing offers stronger security as it individually penalizes malicious actors, resulting in a higher cost of corruption. Protocols stand to gain more from adopting Slashing than relying solely on Token Toxicity.
This thread explores the increasing trend toward horizontal blockchain scalability. This method, unlike vertical scaling, distributes workloads across numerous nodes, allowing networks to expand by adding more machines. Vertical scaling, on the other hand, improves a single machine's abilities. Both methods have their merits, but horizontal scaling ultimately ensures global scalability and is hailed as the future of blockchain systems.
Traditional indicators for cryptocurrency market tops might not be relevant in the current cycle. The increasing influence of institutions like BlackRock on Bitcoin sentiment and the mainstream adoption of crypto could change what traditional market tops look like. Look for broader signals, such as sovereign wealth funds investing in Bitcoin, corporate treasuries diversifying into crypto, crypto company IPOs, and potential crises from over-leveraging or restaking in the sector.
This post goes over the concept of power perpetuals, assets that target an index price's power, in relation to three types of DeFi primitives, including crypto-collateralized stablecoins, margined futures, and products like Uniswap. Stablecoins are analogous to 0-perps, margined futures are 1-perps, and Uniswap-like products act as a replicating portfolio for 0.5-perps. This uncovers a compact design space across these central primitives in DeFi.
The market's demand for stablecoins via lending platforms has risen sharply, fueled by bullish positioning by traders and perceived attractive opportunities, driving up borrowing rates and yields.
This thread provides a good overview of Ordinals on Bitcoin for beginners including their history, a high-level description of them, and some examples of how they work.
Tesla and SpaceX's Bitcoin address, which holds 19,794 BTC valued at over $1.3 billion, was identified by matching on-chain fund flows with financial statements.
March's major crypto events include Ethereum's Dencun upgrade, NVIDIA's AI conference, Fantom's Sonic upgrade, FOMC's interest rate decision, and ARB's massive token unlock.