TLDR Index
TLDR Crypto

TLDR CRYPTO 2024-04-22

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01MARKETS & BUSINESS

ZKASINO $33 MILLION REDIRECTED TO LIDO

The launch of ZKasino, a decentralized gambling network, has sparked outrage among investors after the developers unexpectedly changed plans, preventing users from redeeming their bridged ether and instead automatically vesting it into $ZKAS tokens over a 15-month period. Despite warning signs and allegations of mismanagement, the project had initially attracted over $33 million from 10,000 participants. Following the controversial launch, the funds were sent to staking platform Lido, leading to widespread accusations of a rug pull and the cancellation of ZKasino's IDO and exchange listing.

links.tldr.tech2 min read

GRAYSCALE'S PLANNED MINI BITCOIN ETF WILL HAVE A 0.15% FEE, THE LOWEST AMONG SPOT BITCOIN ETFS

Grayscale, creators of the GBTC trust-turned-ETF, has announced a Bitcoin Mini Trust with an industry-leading 0.15% fee. 10% of GBTC's assets will be contributed to the mini trust and automatically distributed to GBTC holders, giving them a non-taxable event to migrate to the lower-fee product. The Bitcoin Mini Trust will trade under the BTC ticker.

links.tldr.tech2 min read

02INNOVATION & LAUNCHES

TELEGRAM ANNOUNCEMENTS AT TOKEN2049

Messaging app Telegram made several announcements at Token2049 about new blockchain-based features. For creators and channel owners, it will introduce creator tips, tokenized stickers, and in-app digital product sales. A user-friendly in-app wallet will be introduced to interact with the TON blockchain, which will now feature native USDT for free transfers to Telegram contacts.

bit.ly2 min read

STAKESURE: CUTTING EDGE PROOF-OF-STAKE

The EigenLayer team created a new model for analyzing the cryptoeconomic safety of PoS chains by comparing the cost of corrupting a blockchain with the profit that can be extracted from corrupting it. StakeSure is an on-chain insurance mechanism that guarantees no honest user can lose funds. Its many complex characteristics include provably safe bridging, automatically adjusting economic security, and a Karma system for loss compensation and hacker penalization.

bit.ly40 min read

03GUIDES & TUTORIALS

WHAT WE CAN EXPECT POST-HALVING

We've seen a dramatic increase in Bitcoin prices after each halving, compounded by narratives like ICOs in 2016 and NFTs in 2020. With this halving, the two main narratives are ETFs and institutional adoption and the rise of the BTC L2/DeFi ecosystem. The Bitcoin ETFs are already half the size of gold ETFs, with $43 billion in combined assets, and there has never been more institutional interest. At the same time, Ordinals, Runes, and Bitcoin L2s are driving higher transaction fees and reinvigorating the Bitcoin development ecosystem.

bit.ly2 min read

ENGAGING SAFELY IN WEB3 COMMUNITIES

This thread provides tips for navigating crypto and NFT communities within Discord. Key tips include verifying the legitimacy of servers before joining, maintaining privacy in discussions, carefully approaching unsolicited advice and DMs, reporting suspicious behavior, avoiding publicly sharing wallet addresses, understanding smart contracts before interacting, and staying informed on the latest scams and security best practices.

links.tldr.tech6 min read

04MISCELLANEOUS

THE L2 ENDGAME ISN'T FEE REVENUE

L2s like Base are making millions of dollars daily on sequencer fee revenue. However, competition for blockspace is not the end goal. Instead, it is to make blockspace as cheap, reliable, and desirable as possible to incentivize applications to build on the platform. Over time, this will lead to network effects and massive liquidity advantages for the winning L2s.

bit.ly1 min read

BLACKROCK'S CRYPTO STRATEGY

BlackRock categorizes digital assets into cryptoassets, stablecoins, and tokenized assets. As the owner of the iShares Bitcoin Trust, an investor in Circle, and the BUIDL money market fund creator, it is exposed to each group. BlackRock believes in Bitcoin for its internet-native accessibility, cross-border transactional efficiency, and sound inflation schedule. Blockchain can create nonstop capital markets with greater efficiency and transparency.

bit.ly1 min read