Jump Crypto Just Counter-Exploited the Wormhole Hacker for $140 Million (4 min read)
Last year, in one of the biggest crypto loss events of the year, the Wormhole bridge was exploited for 120,000 ether or around $325 million. Jump Crypto replaced these funds to help make users whole, but efforts have continued since then by Jump Crypto, Oasis, and government authorities to recover the stolen funds. Last week, upon receiving an order from the High Court of England and Wales to take any necessary steps, to recover the funds, a counter-exploit was initiated. The counter-exploit was successful, and the parties were able to recover $140 million from the original exploiter's wallet. This action raised questions about what kind of precedent this action sets for government intervention even in non-criminal situations. |
Rollup provider Eclipse launches software to allow Solana apps to be compatible with Polygon (2 min read)
Eclipse is launching a Polygon Solana Virtual Machine (SVM) scaling solution, allowing applications to be compatible with Polygon and increasing throughput speed and interoperability across the crypto space. Rollups work by compiling a number of transactions into one bundle on an L1 blockchain like Ethereum or Solana, making it cheaper and faster. This will make it easier for developers building on SVM to migrate their applications between Polygon and Solana. |
Worldcoin Edges Closer to AI-Driven Crypto Identity Device (6 min read)
After debuting its eye-catching technology, the Orb, in 2021 and garnering significant attention, Worldcoin is finally announcing its plans for a full launch in the first half of 2023. Its product suite includes a token, an app, and the Orb, which is used to capture biometric data. The goal of the Company is to provide a way for individuals to prove personhood via the biometric data it captures and will distribute tokens to those who participate. This approach is not without controversy, with critics pointing out that biometric data like this could be vulnerable to compromise. |
What are Market Makers and How Do They Actually Operate? (3 min read)
This thread breaks down the role of market makers in the crypto market; what market makers actually are, their business models, their strategies, and how they operate in both bull and bear markets. It also breaks down the ways in which market makers work directly with projects as advisers helping with fundraising, providing liquidity on DEXs, developing strategies for token prices, and helping with cashouts. |
MEV Series Part I: Blockspace Markets Across Ecosystems (10 min read)
MEV is a well-known and heavily explored concept in the Ethereum ecosystem. From the coining of the term "MEV" in the Flashboys 2.0 paper in 2019 to the launch of Flashbots, a mature market for blockspace on Ethereum has emerged. On Solana and Cosmos, however, blockspace markets are comparatively less mature. This article takes a look at MEV developments on Solana and Cosmos to date and the similarities and differences they have with Ethereum. |
A Simple Explanation of the EigenLayer whitepaper (5 min read)
The EigenLayer whitepaper was launched last week and this thread breaks it down in a simple overview. EigenLayer provides a way to convey Ethereum's security to dapps and protocols built on top of EigenLayer via restaking. Whereas current L2s and protocols mostly leverage Actively Validated Services (AVS) relying on their own token for security or using a permissioned approach, EigenLayer's use of restaking allows it to make use of Ethereum's security, making dapps and protocols built on top of it as secure as Ethereum. This thread also dives into EigenLayer's potential business models and other components of the whitepaper. |
Why Is Arbitrum The Most Popular L2 Scaling Solution? (5 min read)
Blockcrunch breaks down why Arbitrum has been gaining traction and leading the way as a scaling solution. Arbitrum One is currently the number one L2 in terms of TVL, with 2 million active accounts and over 50% of the market value lock. It is also cheaper than Ethereum by about 100x. Arbitrum is now focusing on social and gaming use cases, and is working on launching Stylus, which will enable the use of more than EVM-based languages. |
Telegram Channels to Follow to Stay on Top of the Markets (3 min read)
Twitter is a great resource to keep up with what's going on in crypto, but Discord and Telegram can also contain a wealth of information. The difficulty with things like Telegram is discoverability. This thread helps with that, running through some Telegram channels to follow to keep up with the space. |
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