TLDR Crypto

TLDR CRYPTO 2024-09-12

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01GENERAL

Sponsored

ATTENTION TO THIS LIMITED TIME OPPORTUNITY

Surging demand for AI chips has made NVIDIA investors rich. Lithium might be next in line: demand is expected to grow 20x by 2040 as automakers go fully electric, far outstripping supply.

invest.energyx.comSponsor

02MARKETS & BUSINESS

SONY'S L2 WILL CREATE A JAPANESE YEN STABLECOIN WITH SONY BANK

Sony Bank is planning to launch a Stable Yen on Sony's upcoming L2, Soneium. The experimental process to determine its legal status will last several months. The project's goal is to make money transfers faster and cheaper.

threadreaderapp.com1 min read

UK INTRODUCES BILL TO CLARIFY CRYPTO'S LEGAL STATUS

The U.K. government has introduced a bill to clarify the legal status of digital assets like crypto and NFTs. The bill will establish them as personal property, which will help with legal disputes and improve protections against fraud and scams. It introduces a new personal property category, strengthening legal clarity for digital asset ownership and protection.

coindesk.com1 min read

03INNOVATION & LAUNCHES

INTRODUCING ATLAS, THE BLOCKCHAIN FOR VERIFIABLE FINANCE

Atlas, a blockchain focused on verifiable finance, merges the speed and performance of traditional finance with the transparency of DeFi. It is built on a custom Solana Virtual Machine (SVM) and settles on Ethereum for security. Atlas has launched its private testnet and is inviting developers to apply for access.

threadreaderapp.com1 min read

LAUNCH A TOKEN IN 30 SECONDS FROM YOUR PHONE

g8keep offers a platform for launching a token in just 30 seconds from your phone, making the token instantly tradable on all decentralized exchanges (DEXs) and safeguarded from bots and snipers. It streamlines token creation while ensuring security from automated trading exploits.

threadreaderapp.com1 min read

04GUIDES & TUTORIALS

CREDIT SCORES, DEFI, AND SONIC

Technological and social developments are prereqs for advancements in DeFi, which mirror the gradual evolution of internet technologies from dial-up to high-speed broadband. The upcoming launch of Sonic aims to overcome several technological barriers in blockchain, such as latency and user onboarding, potentially enabling not only financial dapps, but also broader apps, similar to how credit scores revolutionized traditional finance.

links.tldrnewsletter.com3 min read

LESS TERRIBLE ETHEREUM INDEXING

These authors explore the challenges of Ethereum indexing, revealing how what seems like a simple task — tracking balances and transfers — becomes operationally complex due to issues with tracing, RPCs, and handling reorgs. They share lessons from their indexing journey, highlighting their latest streamlined setup, which filters and processes data before writing to a database, and propose a more efficient indexing solution for real-time and historical data.

threadreaderapp.com9 min read

05MISCELLANEOUS

ETHEREUM'S IDENTITY CRISIS

Ethereum revenue has dropped 99% year-to-date, challenging the “ultrasound money” narrative that relies on fee burning for value accrual. The activity shift to L2 solutions has reduced fees and MEV revenue for the base layer, while the L2s retain most of the execution fees and sequencing rewards. Though some now advocate for its role as “programmatic money,” this stance faces competition from stablecoins and the potential abstraction of ETH as a gas token on L2s.

threadreaderapp.com3 min read

WHAT HAPPENS WHEN EVERY TOKEN GETS RESTAKED?

With restaking protocols like EigenLayer and Symbiotic expanding beyond ETH, new supply-demand dynamics are unfolding where yield-seeking behavior drives supply. However, the demand side faces challenges in justifying the use of restaked assets over native tokens. Restaking is a complementary feature, offering insurance and enhancement rather than core economic security. Developers will likely choose restaked assets based on functionality and ecosystem alignment.

x.com9 min read