ETHENA ONBOARDS BTC AS A BACKING ASSET
Ethena earns yield, paid out via its USDe token, by delta hedging perpetuals on centralized exchanges.
2024.04.05
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10,272 matchesAAVE FOUNDER COMMENTS ON MAKER AND ETHENA
The founder of AAVE discusses the risks and potential pitfalls of supposed arbitrage opportunities, focusing on the example of sDAI and DAI in the MakerDAO ecosystem.
2024.04.05
GOOGLE CLAIMS CRYPTO SCAMMERS
Google filed a lawsuit against two developers for launching fake cryptocurrency investment apps on its Play Store, which have received 100k downloads since 2019, and using tactics, such as feigned romantic interest, to scam users.
2024.04.05
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2024.04.04
EU REGULATIONS MAY REQUIRE LICENSES FOR DEFI FRONTENDS
According to MakerDAO founder Rune, EU financial regulators may require all DeFi frontends to hold a MiCA license. This would effectively block frontends from operating in Europe and require either KYC-enabled or locally-hosted solutions. If implemented, the rule would be in effect starting in 2025.
2024.04.04
TOP 8 MOST PROFITABLE CRYPTO NARRATIVES IN 2024
This post breaks down the most profitable industry sectors this year. Memecoins are the clear leader, with a 1,313% market capitalization increase, followed by RWA and AI at around 250%.
2024.04.04
ALCHEMY DEMOS ERC-6900, A COLD STORAGE PLUGIN
This plugin makes it so that a special key is needed to move designated NFTs. That storage key and the smart account's private key are then required to transfer the locked NFTs to a different wallet, keeping them protected & accessible.
2024.04.04
COINBASE PARTNERS WITH LIGHTSPARK TO PROVIDE BITCOIN LIGHTNING SUPPORT
Coinbase has partnered with Lightspark to integrate the Bitcoin Lightning Network into its platform, promising its users instant, low-cost transactions. This collaboration, which leverages Lightspark's enterprise-grade infrastructure and AI-based optimization tools, will streamline Coinbase's Bitcoin transactions and set the stage for broader payment applications. The integration underscores a significant advancement for the Lightning Network's adoption, promising to boost network usage and liquidity conversion between Bitcoin, fiat, and other cryptocurrencies.
2024.04.04
HOW TO SAFELY SECURE ONE’S CRYPTO
This article provides a comprehensive guide on the most secure methods for storing cryptocurrencies. The author discusses the importance of considering one's threat model and offers insights into the advantages and potential vulnerabilities of each storage method (hardware wallet, brain wallet, and paper wallet) and ultimately emphasizes the significance of using cryptography and natural entropy for protection.
2024.04.04
TAIKO ON ZKVMS
This thread compares zkVMs with zkEVMs, making a case for zkVMs. A zero-knowledge virtual machine (zkVM) provides secure and verifiable computation through zero-knowledge proofs, offering a simpler alternative to the complex and resource-intensive zkEVMs. Taiko has implemented a multi-prover system to ensure continued security even if one type of proof is compromised.
2024.04.04
WHY 5-FIGURE ETH IS INEVITABLE
This thread cites several factors for the bull case for Ethereum and an eventual $10,000+ price. The early pivot to Layer 2s and the commitment from innovative companies, like StarkWare and Coinbase, in building L2s demonstrates industry confidence. Even though L1 transaction costs remain high, the mainnet remains a place for the highest-security transactions, and the deflationary nature of ETH incentivizes investors to hold. Institutions and governments seem to be warming up to Ethereum, as demonstrated by BlackRock’s onchain fund and the CFTC’s declaration that Ethereum is a commodity.
2024.04.04
WHERE DOES BITCOIN DERIVE ITS VALUE
Bitwise highlights Bitcoin's ability to let users hold and control their wealth independently of centralized institutions. Despite its volatility and lack of governmental endorsement, Bitcoin's value is underpinned by its scarce supply and high demand. Bitcoin skeptics fail to appreciate its resistant nature to censorship and the fundamental market principles that determine its pricing.
2024.04.04
WINNING THE SOLANA MEMECOIN ROULETTE
This article outlines a strategy for profiting from investing in Solana memecoins - use a consistent initial bet size, get in very early, take profits on initial pumps, aggressively add to winners, and sell when the token's price structure breaks down.
2024.04.04
WORMHOLE AIRDROP CLAIM NOW LIVE
Cross-chain messaging protocol Wormhole has launched its token via airdrop - the token is available on Solana, with plans to connect to EVM-based chains using Wormhole Native Token Transfers (NTTs).
2024.04.04
SOLANA TRANSACTION LATENCY APPROACHING 60 SECONDS
According to onchain data, the median Solana transaction latency is nearing the 1-minute mark. This is primarily driven by Wormhole airdrop stakers and the added congestion from Solana’s memecoin mania.
2024.04.04
$71M IN CRYPTO PHISHING SCAMS IN MARCH
$71M was stolen in phishing scams in March, 90% of which were ERC20 tokens.
2024.04.04
SILK ROAD BITCOIN WORTH $2B MOVED BY U.S. GOVERNMENT: ON-CHAIN DATA
A wallet thought to belong to the US government transferred 30,175 Bitcoins on Tuesday morning. According to Arkham Intelligence, the destination of the transfer is Coinbase, suggesting that the government may be planning to sell the coins. The Department of Justice seized 50,000 Bitcoins from the Silk Road website in 2022. The last sale of these coins was in 2023.
2024.04.03
SPOT BITCOIN ETF MONTHLY TRADING VOLUME NEARLY TRIPLED IN MARCH, HITS $111 BILLION
Trading volume for Bitcoin ETFs exploded in March, almost tripling February’s $42.2 billion total. BlackRock and Fidelity’s products remain the most popular, with $18 billion and $10 billion in assets under management respectively. Grayscale’s trust-turned-ETF has seen $15 billion in total outflows, declining from about 619,000 BTC to
2024.04.03
OPENSEA LAUNCHES ERC721-C SUPPORT
ERC721-C is a standard that enables creators to implement programmable and enforceable creator earnings on-chain. Now using Hooks in Seaport v.16, creators can set conditions that need to be fulfilled before NFTs in their collections can be transferred.
2024.04.03
GASP, THE MOST EFFICIENT CROSS-ROLLUP PROTOCOL
Gasp is a new cross-rollup protocol that addresses liquidity fragmentation among Layer 2s. It plans to enable gas-free, MEV-protected cross-rollup swaps at near-instant speeds using ZK proofs and decentralized sequencers. Gasp will leverage EigenLayer for transaction facilitation and finality. The project was previously called Mangata and pivoted from its initial plans to be a Polkadot DEX.
2024.04.03
RESTAKING: EVERYTHING OLD IS NEW AGAIN
This Coinbase Institutional report provides an overview of restaking, as popularized by EigenLayer and Ethereum. It highlights the potential for restaking to become a core part of Ethereum’s infrastructure, enabling validators to earn additional rewards by securing actively validated services (AVS). The market is pricing in extremely high yields from AVSs, which may return to more reasonable values as the ecosystem matures. There are also complexities and risks associated with liquid restaking tokens (LRTs) that might be hidden from users.
2024.04.03
AN OVERVIEW OF THE CRYPTO MARKET FOR Q2 2024
This article provides a thorough overview of the cryptocurrency market for Q2, covering major coins, altcoins, NFTs, airdrops, and key narratives. In particular, it discusses bullish catalysts for Bitcoin, Ethereum, and Solana, gives a view of the state of the NFT market, and highlights anticipated airdrops and new token launches. It also outlines narratives surrounding the Bitcoin halving, ETH ETFs, SocialFi, AI coins, and modular blockchains.
2024.04.03
MANTA PLANS TO WIN BACK CAPITAL AFTER FLEEING AIRDROP HUNTERS DRIVE 52% PLUNGE
The Manta L2 chain saw a $250 million decrease in total value over the past week after it enabled withdrawals for STONE and wUSDM. These two assets were used for airdrop farming during Manta's New Paradigm campaign, which rewarded users with MANTA tokens for bridging onto the chain. Co-founder Kenny Li remains optimistic, promising technical upgrades and campaigns to reignite interest in the chain.
2024.04.03
NIRMAAN'S AI THESIS
This article is a comprehensive two-part analysis of the current state of AI and its future trajectory. Part 1 delves into the centralizing forces present in AI model creation, while Part 2 explores the potential of crypto and decentralized technologies to democratize AI and create a more open, accessible ecosystem. The author provides valuable insights into the technical, economic, and societal implications of AI's development and the critical role that blockchain and crypto can play in shaping its future.
2024.04.03
BLAST IS NOW LIVE ON UNISWAP
Decentralized exchange Uniswap is the first DeFi blue-chip to deploy on the Blast Layer 2 chain. Thanks to Blast’s native yield on ETH and the USDB stablecoin, users can earn native yield on their LP positions.
2024.04.03
THE ULTIMATE RUNES GLOSSARY
This thread explains the terminology and definitions of Bitcoin’s new Runes token standard.
2024.04.03
SUMMARY ON MEME COINS
Meme coins primarily serve as vehicles for gambling and entertainment, but are not strictly used for speculation.
2024.04.03
PARADIGM LOOKING TO RAISE UP TO $850M FOR NEW FUND: BLOOMBERG
If the deal is completed at the lower end of the range, it will be the industry's biggest since the recent crypto winter slump.
2024.04.03
DEEP DIVE INTO BINANCE’S RECENT STRUGGLES
Binance is struggling with regulatory issues as multiple countries, including France, the Netherlands, Belgium, and Nigeria, have taken legal action against the exchange for operating without proper authorization. The Nigerian complaint, centered on allegations of money laundering and financial instability, escalated with the detention and escape of a Binance executive. This regulatory scrutiny highlights a pattern of Binance prioritizing expansion over adherence to security and compliance standards, which could lead to increased legal challenges and a push for tighter regulations on crypto exchanges.
2024.04.02
MAKERDAO PROPOSES ALLOCATING $600 MILLION WORTH OF DAI INTO USDE
DAI-issuer MakerDAO is considering adding $600 million DAI into Ethena’s yield-bearing USDe and sUSDe stablecoins via the Morpho lending protocol. It added an initial $100 million on March 29th, enhancing DAI yields with USDe’s funding rate arbitrage strategy. Some DAO members are hesitant to ramp up Maker’s exposure to the relatively new protocol so quickly, though the proposers maintain that the risk parameters are acceptably low.
2024.04.02
REWARD CURVE WITH TEMPERED ISSUANCE: EIP RESEARCH POST
Ethereum researcher Anders Elowsson outlines the reasoning behind moderating Ethereum staking reward issuance. The idea is to use a curve that gradually decreases staking rewards as the amount of staked ETH increases beyond what is seen as a sufficient level. Though it may seem controversial, the argument is that Ethereum only needs so much security before paying validators becomes redundant. Elowsson argues there should be more non-staked than staked ETH to ensure the network stays neutral.
2024.04.02
BSX, A CLOB PERP EXCHANGE LAUNCHES ON BASE
BSX is a trading platform for highly liquid perps. It aims to offer DeFi traders a CEX-like trading experience with instant execution, transparent pricing, and liquidity. The platform is advised by Arthur Hayes, the founder of cryptocurrency exchange BitMEX.
2024.04.02
VERIFIABLE COMPUTING NARRATIVE EXPLAINED
This thread explains the premise of verifiable computing and compares it to a GPU for smart contracts. Verifiable computing enables the execution of complex tasks like computing ML models while retaining the benefits of trustless execution that blockchain provides. There are two approaches: the first uses a network of nodes to perform an off-chain computation and prove it on-chain using zero knowledge proofs, while the second is to build specific ZK coprocessor hardware that can efficiently handle verifiable computation.
2024.04.02
VITALIK ON NEXT STEPS IN THE PURGE
Vitalik Buterin breaks down the next steps in the “Purge” – the plan to simplify the Ethereum protocol. The idea of the Purge is to remove complexity caused by underutilized opcodes and precompiles, consequently adding security guarantees. One significant upcoming change is EIP-4444, which removes Ethereum blocks from nodes after a certain time, similar to blobs today. These upgrades will make client development easier and node operation more achievable.
2024.04.02
WHY L3S?
Offchain Labs/Arbitrum co-founder Steven Goldfeder explains the value of Layer 3s. Layer 3s reduce the onboarding cost compared to L2s since they do not require L1 bridging transactions or transfers. Similarly, chain operators have the benefit of significantly lower fixed costs to post to an L2 like Arbitrum instead of to Ethereum, especially during times of lower L3 use. This allows L2s like Arbitrum to eventually become settlement layers for an ecosystem of Layer 3s.
2024.04.02
POLYGON LABS CEO SAYS L3S TAKE VALUE AWAY FROM ETHEREUM
Polygon Labs CEO Marc Boiron criticizes L3 networks, claiming they exist mainly to siphon value from Ethereum, jeopardizing its value and network security. He suggests that if L3 networks consolidate their transactions onto a single L2 platform, Ethereum may lose transaction fees, reducing the incentive for validators to secure the network, potentially devaluing Ether and threatening Ethereum’s economic future.
2024.04.02
TELEGRAM ENABLES AD PURCHASES AND REVENUE SHARING VIA TONCOIN
Channel owners with over 1,000 subscribers will get half of the ad revenue, with future options to withdraw rewards through the Telegram-affiliated Fragment platform or to reinvest in various Telegram services.
2024.04.02
VITALIK WRITES ABOUT “DEGEN COMMUNISM”
"Degen communism" is a new political ideology that embraces the chaos and dynamism of markets and social media while tweaking rules to align outcomes with the common good.
2024.04.02
THE FIRST DEAL CLOSES ON ECHO, RAISING $300,000 FOR ETHENA
Echo users are now able to create invite-only groups and restrict deal access to certain members.
2024.04.02
A SUMMARY OF THE DISCOURSE ON L2S/L3S
L3s have similar risks as L2s, which have a single centralized sequencer that is able to censor transactions, but they sit on top of an L2, whereas L2s sit on a decentralized and censorship-resistant L1.
2024.04.02
WHY Q1 INVESTMENTS WERE SO HOT AND HOW IT COMPARES TO PREVIOUS BULL MARKETS
The crypto venture capital landscape saw a significant uptick in Q1 2024, with $2.52 billion raised across the sector. Competitiveness among VCs has created a founder-friendly environment, leading to higher valuations and more favorable terms for startups. While the market is expected to remain bullish throughout 2024, regulatory uncertainty and the absence of large deployers of capital from the previous bull market may prevent funding levels from reaching the heights seen in 2021 and 2022.
2024.04.01
ANALYSIS OF RECENT EVENTS IN SEC V. COINBASE
Head of Legal at the Blockchain Association, Marisa Coppel, shares her insight into recent Coinbase case developments for the industry. With the SEC’s claim that the Coinbase Wallet is an unregistered broker being dismissed, developers can rest assured that peer-to-peer technology does not fall under the oversight of the SEC. Though the rest of the case still stands, this is not unexpected, as the court must take all claims by the SEC as fact until the upcoming discovery period.
2024.04.01
CRYPTO TRADER COBIE LAUNCHES BETA FOR ANGEL INVESTOR PLATFORM ECHO
Crypto influencer Cobie has begun beta-testing Echo, his platform for crypto angel investing. The company hopes to tackle the currently fragmented market for startup investments and provide a marketplace for qualified investors to make collective investments. The platform is invite-only and subject to local restrictions around sophisticated investors.
2024.04.01
BITCOIN RUNES COMING TO MAGIC EDEN AFTER ORDINALS BET PAYS OFF
After seeing success with Bitcoin Ordinals trading, NFT marketplace Magic Eden has announced that it will support Bitcoin’s Runes fungible token standard upon its April 20th release. Ordinals trading has helped Magic Eden capture a large portion of NFT trading volume, taking 52% across all chains over the past 24 hours, with 69% coming from Ordinals. Magic Eden currently has a Diamonds rewards program, incentivizing traders to use the platform in anticipation of a future token.
2024.04.01
OVERVIEW OF MODULAR VS MONOLITHIC BLOCKCHAINS
Monolithic blockchains like Bitcoin and Ethereum integrate all functions — execution, data availability, consensus, and settlement — within a single chain, which offers simplicity and security but struggles with scalability and flexibility. On the other hand, modular blockchains distribute these functions across multiple layers or components, allowing for a customizable and scalable system. This architectural evolution aims to balance security, scalability, and decentralization, offering solutions like Celestia for data availability and the Fuel Network for independent modular protocols, despite the complexity and potential interoperability issues that come with modular designs.
2024.04.01
WHAT ELSE COULD MEMECOINS BE?
Ethereum founder Vitalik Buterin provides his take on the current state of the memecoin market, opining how memecoins can be positive-sum and more than a tool for speculation. He argues for integrating memecoins with a specific initiative or charity but notes potential limitations with a simple partnership. His main point centers on memecoins tied to fun, engaging games that leave lower-income players better off while still being enjoyable for those playing without monetary incentives – “World of Warcraft on the blockchain.” Buterin concludes by expressing disdain for the racist or derogatory memecoins but hopes that the positive ones could have a significant societal impact.
2024.04.01
AN ARGUMENT AGAINST BITTENSOR’S $TAO
Taproot Wizard’s Eric Wall explained why he believes the $10 billion protocol is significantly overvalued in a post that took Crypto Twitter by storm this weekend. In the post, he expressed frustration at the redundancy of the model computations and how they are incentivized to give extremely similar results or otherwise not be rewarded tokens. Wall also noted that the models have similar content filters to ChatGPT and thus offer no benefits over centralized solutions.
2024.04.01
PUNK 6529 ON NATIONAL TAX POLICIES FOR CRYPTO ASSETS
This thread presents a view on how to implement effective tax policies for crypto assets with the goal of treating them fairly vs other assets and making crypto holders’ lives easier. For example, it describes giving crypto assets capital gains treatment, but exceptions under $5,000 to avoid forcing taxpayers to track tiny capital gains for gas spent on transactions.
2024.04.01
A PERSONAL RECOUNT OF THE SBF TRIAL
A story from the perspective of one of the twenty attendees in SBF’s trial that covers anecdotes from the courtroom proceedings, in particular the damning testimonial from Nishad Singh, the third-largest FTX shareholder and the company's previous Director of Engineering.
2024.04.01
A DEEPER DIVE INTO THE NORTH KOREAN HACKERS WHO ATTACKED MUNCHABLES
North Korean developers were hired by the Munchables team, leading to a ~$63m hack - four developers who recommended each other and were hired by Munchables appear to actually be the same person.
2024.04.01