TLDR CRYPTO 2024-06-19

open-to-the-public investment round.

This century will be defined by lithium. Don't miss your chance to

invest in the future.

OVER $740 MILLION WORTH OF TOKENS TO UNLOCK IN NEXT 30 DAYS

Over 40 protocols, including StarkNet, ImmutableX, and Aptos, are unlocking a combined $740 of frozen tokens over the next month. The highest unlock is the Gaming L3 XAI, which will unlock $109 million in tokens, followed by Aptos and Arbitrum, which will unlock around $80 million each. Token prices have already begun sliding as investors are concerned about the negative impact of more supply without demand.

US SEC CLOSES INVESTIGATION IN ETHEREUM 2.0, ‘MAJOR WIN' FOR INDUSTRY: CONSENSYS

The SEC has ended its investigation into Ethereum 2.0, which Consensys believes confirms that ETH sales are not considered securities transactions. This decision comes after a request from Consensys to clarify whether ETH is considered a commodity.

ETHENA TOKENOMICS UPDATE AND RESTAKING FEATURES

ENA and sUSDe will be available to deposit in the Symbiotic restaking protocol. ENA will eventually provide security for the Ethena Chain. The chain will host apps built with USDe as the primary asset and gas token. Going forward, any user receiving an ENA airdrop must lock at least 50% in a restaking module, as PT-ENA on Pendle, or basic staking.

INTRODUCING ZKVM 1.0: THE FUTURE OF VERIFIABLE COMPUTATION

RiscZero's zkVM is the first production-ready zkVM. It makes zero-knowledge proofs available and cost-effective for any chain. Any Rust program can be proven and verified across chains, allowing for greater cross-chain compatibility. It claims to beat Succinct's SP1 zkVM in both cost and speed on various hardware setups.

CELEBRITY CRYPTO PUMP-AND-DUMPS

This thread highlights the numerous celebrity NFT collections and tokens that ended up dead, rugged, or abandoned. Highlights from the last cycle include Ethereum Max, which was promoted by Kim Kardashian and Floyd Mayweather and is down 99.96% and Mila Kunis' Stoner Cats NFT project, which the SEC charged with being an unregistered securities offering. This cycle has been memecoin-dominated, with tokens from Caitlyn Jenner and Davido down over 90% from their peak.

POST-ZK AIRDROP PLAYBOOK

With 49.2% of the ZK supply remaining for community allocation and 19.9% going to ecosystem incentives, there will likely be high rewards on ZKsync yield farms and LP positions. Other ZK rollups without a token, including Scroll and Linea, are doing relatively linear airdrops that reward users for holding assets on their chains. EigenLayer-adjacent projects like Symbiotic, Karak, and Swell offer exposure to the popular restaking narrative.

NOTCOIN FOUNDER SETS OUT HOW TELEGRAM GAMES, INCLUDING HIS OWN, WILL EVOLVE

Notcoin's founder believes the future of Telegram-based games like Notcoin are sustainable models rather than fleeting successes like clicker games. Notcoin is moving away from its initial airdrop-driven model to more robust systems that facilitate interaction with newer games.

L2 BLOB FEES SKYROCKETED ON MONDAY

L2 blob fees increased dramatically on Monday, accounting for 21% of batch posting costs to Ethereum (blobs submitted per block exceeded the target). This spike, likely caused by the zkSync airdrop, indicates that blob fee dynamics are important for L2 operators to monitor because they can impact cost and revenue projections.

FOUNDERS SHOULD RECONSIDER AIRDROPS

'cobie' makes a case against giving airdrops to low-value users who ‘farm' protocols.

MITHRIL: A NEW SOLANA NODE

Mithril is an upcoming Solana node that will verify blocks with lower hardware requirements, promoting decentralization and the principle of “verify, don't trust.”

CRYPTO IS HERE TO STAY

The recent approval of BTC and ETH ETFs in the US and the integration of stablecoins by major companies like Stripe and PayPal illustrate major advancements in crypto adoption, effectively improving e-commerce experiences and showing a path towards regulatory clarity.

FIRST FILING FOR COMBINED SPOT BTC & ETH ETF

The Hashdex Nasdaq Crypto Index US ETF has filed its 19b-4 to combine exposure to BTC and ETH in the same product.