Arbitrum's Long-Awaited Airdrop to Go Live Next Week, With Self-Executing DAO (8 minute read)
Arbitrum announced it will be airdropping 12.75% of its governance token (ARB) supply to community members on March 23, aiming to decentralize its network. ARB will govern the Arbitrum One and Nova networks through a self-executing DAO, which automatically applies on-chain protocol upgrades. Offchain Labs has also released Arbitrum Orbit for building Layer 3 networks on top of Arbitrum, providing higher throughput at low costs. The airdrop will distribute tokens to users, DAOs, and Protocol Guild, with 42.8% going to the Arbitrum Foundation. |
Fidelity Investments Has Opened Bitcoin Trading to the Public During Ongoing Banking Crisis (2 minute read)
Fidelity Investments has expanded its offerings by launching the Fidelity Crypto platform to the public, enabling customers to buy and sell bitcoin and ether. While users cannot transfer their coins to self-custody wallets at this time, the company has hinted at the possibility of this feature in the future. Forgoing fees directly to the consumer, the platform will take up to a 1% spread on trades. Despite facing criticism from some senators, Fidelity remains undeterred in regard to entering the cryptocurrency market. However, amid the current banking crisis, concerns about the importance of self-custody and users controlling their private keys persist. |
Salesforce Rolls Out Platform for Big Brands to Create NFT Loyalty Programs (4 minute read)
Salesforce has introduced Salesforce web3, an NFT management platform that enables businesses to create token-based loyalty programs. Clients can mint and sell NFTs, monitor blockchain activity, and access real-time customer data. The platform's launch follows a successful pilot program with brands like Crown Royal, Scotch & Soda, and Mattel. The service is designed to be blockchain agnostic, supporting proof-of-stake chains, with most clients using Ethereum or Polygon. |
Crypto Long & Short: Finding Alpha in AI-Related Crypto (5 minute read)
After taking a breather for a bit, the AI theme is heating back in crypto alongside the buzz about the newly released GPT-4 (even though they are hardly related). This article discusses the potential of lesser-known, small-cap AI crypto projects, comparing the process of researching small and microcap oil and gas companies to digital assets and AI. It highlights three crypto AI projects and their price action as of late: SingularityNET (AGIX), Render Token (RNDR), and Fetch.ai (FET). The author argues that opportunities for alpha are more likely to be found in lesser-known assets that are waiting to take center stage, as AI was a few years ago. |
Hitchhiker's Guide to Security (5 minute read)
This thread focuses on web3 security, underlining its significance and providing implementation suggestions. Key aspects include understanding security properties, setting protection goals, and using tools and practices like design principles, test-driven development, security tools, audits, contests, bug bounties, insurance, and post-launch monitoring. Emphasizing continuous improvement and adaptability, the thread encourages learning from others' experiences and exercising caution in the face of new challenges. |
Kaiseki - An Arthur Hayes Essay (31 minute read)
This essay highlights how we got to where we are now starting with COVID-19 all the way to the recent instability in the banking system we have been experiencing. The US nationalized corporate credit markets and flooded the system with liquidity in response to COVID-19. Stimulus checks boosted the economy, encouraging risk-taking among asset speculators, leading to a massive bull market and giving rise to inflation. Banks then took on duration risk as interest rates remained near 0%. As inflation rose, the Fed increased interest rates, causing bond prices to fall and banks to face losses. Depositors started leaving regional banks for higher-yielding alternatives, forcing banks to sell assets at a loss. This led to the failure of Silvergate and SVB, highlighting the vulnerability of the US regional banking sector and a larger crisis the US could be facing. |
U.S. Federal Reserve's Real-Time Payments System Coming in July (2 minute read)
The US Federal Reserve will launch its FedNow Service in July, a real-time payments system designed to reduce delays in clearing financial transactions between institutions. The system will operate 24/7, providing immediate access to funds. While many view FedNow as the logical next step before a CBDC, the service's core value proposition of instant transferability could reduce the need for a CBDC. Surprisingly, the new system could actually end up benefiting crypto traders by facilitating quicker funding and withdrawals, creating more efficient rails. |
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The Wallet of Tomorrow (6 minute read)
This article discusses how ERC-4337 has the potential to revolutionize on-chain interactions by addressing wallet and account issues, improving user experiences, and enabling new use cases. Ultimately these improvements could reduce friction and pave the way for the mainstream adoption of web3. |
The Meme-Utility Spectrum (4 minute read)
This article highlights the trade-off between a token's tangible utility and intangible memetic value. It argues that early-stage projects should lean into memetics when designing their tokenomics to attract believers and differentiate from the crowd. |
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