Daily Bullets 💊: Goerli Success! Final Ethereum Testnet Before the Big Show

💊 M6 Daily Bullets 💊Thursday, August 11th

Aug 11, 2022

On the heels of a successful Goerli testnet merge, the crypto markets responded positively. Bitcoin jumped up to ~ $24.8k and ETH is working on holding $1900. Interesting to see that BlackRock with their $10T under management is offering the Suits exposure to spot Bitcoin. Then we have this MakerDAO proposal to market buy $3.5B ETH. September 15th seems to be the tentative date for the Merge. Things are getting interdasting..

The Ethereum Goerli testnet has been merged. This is the last testnet before the Ethereum mainnet merge (expected in September). Previously, both Ropsten and Sepolia successfully switched from PoW to PoS

Investment manager BlackRock has launched a private trust offering US-based institutional clients exposure to spot bitcoin. Has $10T under management

MakerDAO is considering a $3.5B ETH market buy, converting all USDC from the peg stability module into ETH

Mark Cuban, the billionaire entrepreneur, is facing a class-action lawsuit over his promotions of the bankrupt crypto brokerage firm Voyager Digital

Polygon announced a partnership with gaming publisher Neowiz to launch a new Web3 gaming platform called Intella X, supported by its native IX token

dYdX: accounts flagged by compliance provider and blocked because a certain portion of wallet’s funds were associated at some time with Tornado Cash. Made adjustments to unban certain accounts and will continue to make efforts to limit flagging

The Ethereum Merge is split into two upgrades: Bellatrix and Paris. The second part is when The Merge fully occurs. The Bellatrix upgrade will target September 6 while the Paris upgrade will aim for September 15

Ripple Labs interested in bankrupt crypto lender Celsius' assets

Crypto exchange Bitfinex may be facing criminal investigation in US

A new trading app from Structure.fi is landing in El Salvador as it hopes to expand access to crypto and traditional investing to people worldwide

Hackers have stolen $1.4B this year using crypto bridges

Coinbase under SEC scrutiny over its crypto-staking programs

KuCoin will introduce native token swap functionality to its in-house wallet after integrating DeFi market maker 1inch’s application programming interface

MakerDAO may execute ‘Emergency Shutdown’ if sanctions hit DAI - Tornado Cash repercussions

Aave Companies has requested $16.6M in retroactive funding from the Aave DAO for its work in developing Aave v3

Celestia: Modular Fellows, a new program that supports and mentors modular builders

Maple Finance, a DeFi corporate credit platform, added a new $30M lending pool backed by crypto-native investment firm Maven 11

Interlay launched a Bitcoin-based cross-chain bridge on Polkadot named interBTC (iBTC)

Axelar, Aurigami, and Trisolaris Join Forces to Bring Secure Cross-Chain Lending and Liquidity to NEAR Protocol’s Aurora

Synthetix DAO and Jump Crypto announce a renewed partnership. Jump will provide liquidity across the board and provide essential product feedback to SNX CC's

DeFi derivatives trading app Cypher to offer a specialty hedging service to Solana’s validators, the server-runners who lend their compute power to keep the network chugging

Retrograde has rebranded to Vortex and is live on Sei Network incentivized test-net

SpiritSwap V2 is live — UI & protocol upgrades

Launch of Vybe DEX, a data-driven trading interface powered by Serum’s Central Limit Order Book and matching engine, built and hosted by Vybe Network

Introducing Mycelium: Perpetual Swaps launching August 2022

Announcing the Encode x Wintermute MEV Hackathon with Flashbots

Multi-Chain Crypto Wallet Guarda Adds Native Support for EGLD

Slush SDK and app specific rollups

📊 Data:

Nansen Smart Money Holdings Token Inflow and Outflows: Tracking what the whales are up to...

- Inflow: WBTC ($21.6M), USDT ($19.8M), FRAX ($4M), DAI ($2.1M), aSTETH ($925k)

- Outflow: aWETH_v2 ($74.2M), USDC (49.6M), WETH ($6.2M), SHIB ($276k), BUSD ($185k)

Nansen NFT Hot Contracts:

8liens: 2191 ETH
Shellz Orb: 1330 ETH
BAYC: 794 ETH
CryptoPunks: 580 ETH
Otherdeed: 523 ETH

🎓 Research:

Timeline and reactions of Tornado Cash being sanctioned by the United States - source

Coinbase: Nomad Bridge incident analysis - source

What’s changed in GameFi in the last month? – July Report - source

July 2022 Metaverse Monthly Report - source

Guild evolves: platformless memberships - source

Gas guzzler insights - source

🖼 NFTs/Metaverse News:

World Table Tennis (WTT), the events arm of the sport's governing body, is pursuing Web3 initiatives in partnership with startup NFT Tech – in an effort to expand the game

HitPiece, an music NFT platform now officially live. Updated version will aim to avoid the same copyright issues that the beta version faced and prioritize ownership rights

OpenSea introduces new stolen item policy to combat NFT theft

NFT Collections will be regulated like cryptocurrencies under EU’s MiCA law

Fractionalization is a solution that lets smaller investors have a share of popular NFTs like CryptoPunks. Punk’s ownership will be in 56,000 wallet addresses that signed up to get a share

Anata breeding is live + updates

🌍 Crypto Twitterverse:

Ben Lilly @MrBenLilly

0/ ETH is up more than 75% since the start of July. With a successful testnet merge, will this rally continue as we approach the mainnet merge? To better understand the current drivers of this rally, read below.

banteg @bantg

MakerDAO is considering a $3.5 billion ETH market buy, converting all USDC from the peg stability module into ETH.

Connor Dempsey 🛡 @Cdempsey44

CB Ventures has been digging into the #Bitcoin Lightning network lately. TLDR: exhibiting promising growth, with the potential to disrupt $150B a year payment + remittance industries. Threadooor 🧵

kel @kelxyz_

Is Opensea web3’s eBay? OS has been dominant, but disruption by unbundling may be on the horizon. @natashajuliakim first introduced the argument in March - it has only grown stronger since. What’s behind it? Join me in… “Exploring the Unbundling Opensea Thesis”

Adam Cochran (adamscochran.eth) @adamscochran

1/7 Maker committing death by a thousand cuts. -Have working decentralized product. -Add more risky assets backing. -Volatility becomes too much. -Add centralized risk (centralized stables + RWA partnerships) -Grow through inclusion in base pool.

olimpio ⚡️ @OlimpioCrypto

Regarding ETHPoW: An Ethereum hard fork could be on the horizon. Yesterday a made a thread on what it could mean. This is a follow-up: (i) what is a hard fork (ii) risks of interacting with a forked chain (iii) what happens with L2s? (iv) why would a hard fork happen? 🧵👇

Meet Barvadiya @meetbarvadiya

A list of 15 constantly updating Notion pages and Databases full of crypto and web3 resources. I promise, after this thread, you'll never need anything to search for. A thread 🧵

Miles Deutscher @milesdeutscher

Blackrock’s new #Bitcoin institutional trust is massive for the space. They have $10T under management. For scale: #Bitcoin ’s market cap is $500b (5%). Irrespective of Blackrock’s intentions, it signals one thing: Institutional adoption is happening, and fast.

📈 Fundraises:

LongHash Ventures, one of the top venture funds for Asian web3 startups, announced a new $100M fund

Ankr Receives a Strategic Investment from Binance Labs

Decentralized communications platform Satellite IM announced it has closed a $10.5M seed round

Solana MEV infrastructure developer Jito Labs raises $10M

AMP Global Technologies Raises $5.6M To Expand Its Blockchain-Based Video Platform

Data Gumbo Raises $4M to Advance Transactional Certainty Among Enterprises

ReadON Raises $2M to Build a Decentralized Content Distribution Platform

Yin Yang Games Raises $1M for its NFT card game called Reincarnation

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