Binance Will Convert $1B Worth of BUSD Stablecoin to Bitcoin, Ether, BNB and Other Tokens (1 minute read)
Binance has announced it will convert $1 billion worth of BUSD into Bitcoin, Ether, BNB, and other tokens in a bid to support the market during turbulent times, which was likely a big driver for BTC, ETH, and BNB's significant gains yesterday. The source of these funds is the Industry Recovery Initiative fund that Binance and industry partners formed back in November. This comes after the shutdowns and failures of Signature Bank, Silvergate, and Silicon Valley Bank, causing extreme market volatility and uncertainty. |
Meta Announces Plans to Stop Working on NFTs (2 minute read)
Meta is winding down its NFT efforts, announced Stephane Kasriel, head of commerce and financial technologies, in order to prioritize other areas that can create more economic opportunity for creators and businesses. Its focus will be on product lines such as messaging and monetization opportunities for Reels and streamlining payments with Meta Pay. It apparently will continue to support NFT creators who use Instagram and Facebook. |
Bankless Enhances Web3 Push With New 2.0 Launch (2 minute read)
Bankless, a popular crypto media and education brand, has launched Bankless 2.0, a move away from Substack to a website with new web3-focused features, including podcast collectibles, POAP mints, and subscription payments with cryptocurrency. The launch comes shortly after news that the Bankless co-founders raised a $35 million crypto venture fund. Bankless has become a prominent voice and community in the space over the past few years, so this is just a new chapter in its continued growth. |
InterSwap is Integrating with LayerZero to Facilitate Cross-chain Swaps (3 minute read)
InterSwap, an omnichain automated market maker (AMM), has integrated with the LayerZero network to facilitate cross-chain swaps in a trustless way. LayerZero offers trustless valid delivery, enterprise-grade security, and communication protocol to enable users to interact with dApps and DEXs without treating chains differently. InterSwap hopes to bring user adoption of LayerZero's network and could help increase its adoption across the DeFi ecosystem. |
A Megathread on the State of Arbitrum (6 minute read)
In this thread, the author looks at the state of Arbitrum, an L2 scaling solution built on top of Ethereum. Arbitrum's ecosystem has seen extreme growth in the past 6 months, with its TVL being the largest of any L2. The author also examines Arbitrum's development, including its decentralized sequencer and validators, Fraud Proofs, Stylus programming environment, and Arbitrum Nitro upgrade. The thread then lists 5 live protocols and 5 unlaunched protocols he believes are worth watching. |
Tokenomics Explained (4 minute read)
Tokenomics refers to the economic and financial principles that govern a token. Components of Tokenomics include Supply (Emissions, Inflation/Deflation, Token burns, Token Allocation and Vesting and Token Supply), Demand (ROI, Utility and Memes) and Market Cap. This thread breaks down the different components of tokenomics and how to leverage them to evaluate different projects. |
Euler Suffers $200M Exploit in Flash Loan Attack (2 minute read)
Euler Finance, a well-known DeFi protocol, suffered from a flash loan attack that resulted in a loss of nearly $200 million. The attack was composed of six different flash loans that made it appear as if there were fewer collateral tokens than debt tokens, taking advantage of flawed donation and liquidation logic. Euler's native token dropped by over 55% on the news. Euler Labs tweeted that it was currently working with multiple security firms and law enforcement officials to investigate the attack. |
Optimism's Path to Technical Decentralization (2 minute read)
OP Labs is working towards decentralizing the OP Stack codebase to achieve Optimism's vision of enabling global coordination of human intelligence. The Bedrock release can enable the use of multiple proof schemes and multiple clients for multi-client fault proofs, a needed component for technical decentralization. OP Labs is focusing on baseline decentralization milestones, such as decentralizing custody of the bridge upgrade keys and enabling permissionless output proposals. If those goals are achieved, the community can focus on other high-level themes, such as deploying additional proof systems on mainnet, phasing out the attestor network, removing upgrade keys, and decentralizing the sequencer. |
Web3 Angel Investor Database (2 minute read)
Many of the well-known players in crypto have gone from building to investing over time. This spreadsheet is a great resource for investors looking to raise from angel investors with deep experience in the space. |
Revisiting Aggregation Theory (16 minute read)
This article discusses aggregation theory in web3 and how tokens have become an increasingly important tool to aggregate users to a platform. While many platforms with traditional venture funding have become category leaders, they have become exposed to competitors with token models. |
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