From Math Camp to Handcuffs: FTX's Downfall Was an Arc of Brotherhood and Betrayal (17 minute read)
Sam Bankman-Fried and Gary Wang had been friends since their teens. They met during a five-week summer program for mathematically talented high school students in 2008. Bankman-Fried and Wang worked together for nearly all of their adult lives. This article looks at Gary Wang, his past, and his role with FTX. Wang was mostly in the background, creating the platforms and engines that the company used. |
Flashbots Proposes New Class of 'Matchmakers' to Share MEV Gains With Ethereum Users (2 minute read)
Flashbots has proposed a new protocol called MEV-Share to distribute profits on the Ethereum blockchain more broadly. MEV-Share would distribute MEV to Ethereum users as well as validators and data-block builders. It involves the introduction of a new entity in the MEV supply chain called 'matchmakers'. MEV-Share is an early implementation of SUAVE, a blockchain aiming to decentralize the block-building process. |
zkSync Counters Polygon With 'Mainnet' Rollup (2 minute read)
zkSync has opened up registrations for developers to deploy applications to its blockchain-based platform. The announcement comes a day after Polygon set a date for the launch of its zero-knowledge-based scaling solution for Ethereum. Matter Labs has raised $200M to develop an ecosystem fund to foster the adoption of zkEVM. The recent announcements by Polygon and Matter Labs may increase pressure for other zk-rollup providers to launch their platforms. |
VC wallet hunting 🐳 (5 minute read)
The top 20 crypto funds have more than 1200 wallets combined. This Twitter thread looks at eight of the largest VCs, their biggest holdings, and recent investments. The firms include Jump Trading, Blockchain Capital, Andreessen Horowitz, and Amber Group. VCs often act completely recklessly. There is no guarantee that their actions are 'smart money'. |
How Ordinals are evolving differently than Ethereum NFTs (4 minute read)
The standard practice with Ordinals is to create a new address for every inscription received, resulting in more privacy for owners. Ordinals are on-chain by default, with the core asset immutably inscribed on Bitcoin. It is much easier to launch a one-off inscription than it is to deploy an NFT on Ethereum. File types other than images are common on Ordinals. This includes HTML pages, 3D models, audio files, and even a Doom clone and a Mintcraft clone. |
Games Over Governance: Recentering DAOs on Coordination (6 minute read)
The strength of DAOs lies in their ability to coordinate activities. This article explores the concept of DAOs as economic game engines that can create order from chaos if appropriately structured. The conversation around DAOs needs to be changed to create sustainable and equitable communities. New potentials can be unlocked by centering on coordination. |
Centrifuge Wants To Back Aave's GHO Stablecoin With Real-world Assets (3 minute read)
Centrifuge is looking to become the real-world asset facilitator for Aave's new stablecoin, GHO. The on-chain ecosystem is already an asset facilitator for MakerDAO's DAI stablecoin. A formal proposal is now being prepared for submission once GHO facilitators are ready for onboarding. Real-world assets are off-chain digital assets such as cash, gold, and real estate. They can be used as collateral in DeFi, providing access to larger debt markets and accelerating mainstream cryptocurrency adoption. |
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