TLDR Index
TLDR Crypto

TLDR CRYPTO 2024-09-02

5 sections12 entrieslinks blockcomplete parse

Parse notes

  • Subscription/account footer truncated before parsefooter_truncated

01MARKETS & BUSINESS

TRUMP CAMPAIGN CRYPTO DONATIONS OUTPACING ALL OTHER CORPORATE DONATIONS

During Trump's discussion with BTC Inc. CEO David Bailey, he was promised $100 million in donations and 5 million re-election votes for promoting pro-crypto policy. Since then, $25 million has been raised. 48% of all corporate money raised this cycle is from crypto. Pro-crypto money has led to 85% win rates for candidates. More than $4 million in crypto like USDC, ETH, and BTC has been directly donated. Ripple and Coinbase have been the biggest backers of pro-crypto PACs.

threadreaderapp.com2 min read

SEC WARNS FTX AGAINST PAYING CREDITORS BACK IN STABLECOINS, OTHER CRYPTO

The SEC has warned FTX that it may oppose the bankrupt exchange's plan to repay creditors using stablecoins or other digital assets. The agency also objects to provisions that would limit future legal liabilities for FTX's estate, aligning with the U.S. Trustee's concerns over discharge provisions that protect the debtors from further claims.

theblock.co2 min read

02INNOVATION & LAUNCHES

INTRODUCING RUMPEL: TURNING POINTS INTO PROFIT

Points have become the primary protocol reward mechanism, but users are frustrated with their lack of transferability. Rumpel wraps points into a Rumpel Point Token stored in a multisig wallet, allowing points to be traded onchain. Liquid points markets create more user interest and speculation, increasing protocol market awareness.

threadreaderapp.com4 min read

EIGENDA: REVOLUTIONIZING ROLLUP ECONOMICS

EigenLayer's data availability AVS, EigenDA, has over $9 billion of restaked capital protecting the availability of rollup data for transaction verification. Though the DA space is saturated with competitors, EigenDA has higher throughput and Ethereum alignment but may not offer as high restaking rewards as other AVSs. EigenDA must reach $160k monthly revenue, or around 11 rollups, to break even.

x.com11 min read

03GUIDES & TUTORIALS

HOW L2S ACTUALLY WORK

On an L1, all the network's nodes have to process transactions and store data onchain, which is an expensive process causing high transaction fees. L2s use cheaper data and batch transactions together to be executed by an offchain entity, allowing for hundreds more transactions per second than L1s. L2s submit transaction proofs secured by cryptography or staked assets to the L1 for settlement.

threadreaderapp.com6 min read

MOATS IN CRYPTO MARKETS – A NEW FRAMEWORK

In the competitive crypto protocol industry, it is essential to understand moats and how entrenched specific protocols are. This framework focuses on six verticals — money markets, DEXs, stablecoins, LSTs, third-party bridges, and social apps — and analyzes them for their defensibility. Each vertical has “un-forkable” properties, like liquidity for a DEX, that keep the incumbents in power, though some properties are stronger than others.

threadreaderapp.com1 min read

04MISCELLANEOUS

GAMING STUDIO ZYNGA SELLS SUGARTOWN TO ITS DEVELOPERS

Zynga, the game studio behind hit games like Farmville and Words With Friends, has divested from its Web3 game Sugartown. The IP was sold to D20 Labs, a company led by two Sugartown game developers. A follow-up post promised more details about the project's future in the coming weeks.

threadreaderapp.com1 min read

EIGENLAYER: PUSHING BOUNDARIES OF TRUST

Restaking expands what staked capital can do, while the EIGEN token and intersubjectivity expand the use cases of governance tokens. The protocol will have outsized impacts on validator economics, and there will undoubtedly be unforeseen challenges in the AVS ecosystem. While complex, restaking could lead to more resilient and responsive blockchain systems through community-driven resolution of disputes and expanding decentralized collaboration.

threadreaderapp.com12 min read