Daily Bullets 💊: Vitalik Gives New Meaning to the Phrase “Long ETH”

💊 M6 Daily Bullets 💊 Tuesday, August 30th

Aug 30, 2022

Yesterday’s oomph that we saw in the market has dissipated. Bitcoin dropped below $20k again and ETH is currently in the low $1500s - that’s just the way the cookie crumbles. In other nonchalant, totally appropriate news, the co-founder of Ethereum, Vitalik Buterin, recently had a picture going around the internet that gives new definition to the term “Long ETH” into the upcoming “hard fork”

Emin Gün Sirer - statement refuting the crypto leaks “lies”

Cryptocurrency lending platform Nexo has allocated an additional $50M to its token buyback initiative

Central African Republic's Constitutional Court ruled that the purchase of citizenship, "e-residency" and land using the cryptocurrency, Sango Coin, the government launched last month was unconstitutional

Garry Tan will be YC’s next President and CEO

Reminder: Arbitrum One is upgrading to Nitro on Wednesday 8/31. 2-4 hours of planned network downtime, starting 10:30 AM ET / GMT-4

BNB Chain has introduced liquid staking with three leading Web3 protocols: Ankr, Stader and pStake

Tradingview has integrated defillama data

Fireblocks launches support for Solana NFTs, games and DeF

⁠Aave community proposes to temporarily suspend ETH lending before the Merge to mitigate risks

Crypto.com accidentally transfers $10.5M to a woman instead of $100 who then bought a house. Now she’s being sued, must sell house and return the money

Albanian authorities have Turkish crypto exchange founder, Faruk Fatih Özer, in custody, waiting for questioning and cooperation with the Turkish government

⁠Indonesian e-commerce giant, PT GoTo Gojek Tokopedia Tbk, buys local crypto exchange for $8M

An executive of Thai cryptocurrency exchange group Bitkub has been fined $235K for insider trading related to a failed acquisition by the country's oldest bank

Derivatives marketplace CME goes live with euro-denominated bitcoin, ether futures
Iran is allowing businesses to use crypto for import transactions - could be a means of circumventing sanctions

Brazil's central bank picked proposals for eight new projects to advance through its innovation lab, including a DeFi liquidity pool from Itaú Unibanco, the country's largest bank

The government of the Mendonza province, Argentina, started accepting crypto as a means of payment for taxes and fees

⁠Binance Pay partnership allows UAE entrepreneurs to repay loans using crypto

Cardano blockchain builder Input Output Global (IOG) has funded a $4.5M blockchain hub at Stanford University

NFT exchange Looksrare will not support forked versions of Ethereum post-Merge

dYdX is currently blocking less than 0.1% of the wallets connected to the exchange after Tornado Cash sanctions

Klaytn: Klaymakers 22 hackathon is now live and open for submissions

Aptos: Incentivized Testnet 3 - August 30 to September 9 and is the last incentivized testnet before mainnet launch

Cardano IOHK Mithril proof of concept is now open-source

OptiFi lost $661K due to a Solana design flaw where closing a program causes it to shut down and lock up the funds held in the contract

Interoperability-focused blockchain Flare Network has partnered with software infrastructure firm Lena Instruments to implement a crowdfunding mechanism that lowers the risks associated with startup investing

Trident will not be deploying on Avalanche as previously planned. Instead, will move to Arbitrum

Myria L2 is now live - solves the scalability issues of Ethereum, with 0 gas fees & lightning-fast transaction speeds

Phi has launched on Polygon Mumbai Testnet. The Web3 world created directly from ensdomains & wallet activities, enabling the easy visualization of on-chain identities

1st batch of brand new DERACE features is live on test-net

Halborn blockchain and smart contract security VM - ZIION is open-source, end-to-end, pre-compiled, multi-architecture, and multi-protocol

Announcing Specula, the first *EVM-native* optimistic rollup

Announcing the upcoming launch of Nazare - a protocol that will unleash waves of liquidity across the Solana ecosystem

Introducing Hadeswap - the most efficient decentralized NFT trading platform

Gitcoin: GR15 will have over $1M in matching funds across 12 ecosystem rounds

EMURGO Ventures invests in DoraHacks to scale Cardano's Web3 developer pool and dApp ecosystem

📊 Data:

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

- Inflow: WBTC ($31.9M), USDT ($2.6M), SHIB ($1.2M), DAI ($1.1M), TRIBE ($1M)

- Outflow: USDC ($95.2M), AAVE ($1.7M), cbETH ($577k), VEGA ($223k), YFI ($217k)

Nansen NFT Hot Contracts:

DigiDaigaku: 1352 ETH
Moonbirds: 704 ETH
CloneX: 636 ETH
CryptoSimeji: 617 ETH
Black Box: 416 ETH

🎓 Research:

The Fat Paradox - exploring value accrual in the web3 tech stack - source

zkSync Ecosystem Airdrop covered (A-Z) - source

Investment Cycles - source

The Path of Compliance and the Path of Decentralization: Why Maker has no choice but to prepare to free float Dai - source

Assessing Blockchain Bridges - source

Global Unicorn Index 2022 Half-Year Report - source

Crypto x Options Repository Notion Site - source

Tech Fear-Mongering Isn’t New—But It’s Time to Break the Cycle - source

Remembering the Failed Crypto Projects a16z Backed - source

🖼 NFTs/Metaverse News:

Hype around the launch of the y00ts NFT project on Solana has led to the team’s current NFT collection, DeGods, pumping to new heights

The digital collectibles company Veve partners with Marvel to drop limited edition NFT covers featuring Spider-Man, Black Panther

NFT project Art Blocks launches engine for generative asset creation

The R3al Metaverse is a new web series starring characters based on avatars from popular NFT projects, including the Bored Ape Yacht Club, Cool Cats, Doodles, World of Women or Robotos
Art, artifacts and untold family stories from the world-renowned Mexican painter Frida Kahlo are being digitized and uploaded to the metaverse

🌍 Crypto Twitterverse:

Alfaaaaaa @alphaketchum

If you follow me, I have quite an affinity with the psychology of market participants. This isn't a podcast about crypto directly... but it is very much about 'gamification', which will intersect w/ crypto-economic systems & NFTs @gabrielleydon 🧵below joincolossus.com/episodes/14063…

joincolossus.comDesigning Digital EconomiesGabe Leydon is the co-founder and former CEO of MZ, the company behind hit games such as Mobile Strike and Game of War. We cover why great design can actually be a bad sign, why he believes NFTs will create billionaire influencers, and how different cultures design games.

Jack Niewold 🫡 @JackNiewold

Arbitrum has been popping off recently, and it's not just GMX and DeFi bluechips that have driven adoption. Today I put out a call for small, underrated projects on Arbitrum. After some investigation, here are 5 interesting projects on the L2 that I'm excited about:

Ryan {👾} @0xRyze

FREE-TO-OWN The new web3 model that will change game monetization forever. Breaking down @limitbreak 's and @DigiDaigaku 200M raise:

Sheeki @sheeki03

1/ Alfa on why $BONE is the play, if you aren't already aware DogeChain was a quick hackjob to frontrun Shibarium or the $SHIBA chain

Zoomer Oracle @ZoomerOracle

1/ It’s threadoooooor time. A very unusual one with huge alpha. Below, I will describe an in depth research thesis about $BONE, a token from the $SHIBA ecosystem . Yes, I already know what you are thinking (research on Shiba lol). But keep reading, it will be worth it.

Will ✈️ SBC '22 🌉🧠 @DangerWillRobin

Here is the list of project I know (or at least know of) that are currently building in the field of on-chain games. Please DM me if you want to add more to the list. I've included the person I would talk to if I needed to know more (they are welcome to add their teams below).

Levan @LevanKvirkvelia

after analyzing 60+ games and services, we found 200 000 bots. on average, every web3 game has 40% bots. link to the database with the results at the end of a thread 🧵

Doug Colkitt (🐊,🐊) @0xdoug

1/ IMO there's essentially no way to make the economics of an on-chain order book sustainable. At least in a general purpose chain IMO the only solution is an order book specific appchain with application aware pricing. A general purpose chain can't profitably host an order book

Small Cap Scientist 👨‍🔬🧪🥼 @SmallCapScience

$HERMES is a high conviction play for me. Solidly fork on $METIS (+ @arbitrum soon), multiple protocols aggregating/locking, proposal for millions of $'s in grants, incoming supply crunch, and could soon become the leading liquidity hub on $METIS. 👀 The details ⬇️ 🧵

Xave Meegan @0xave

1/ Cosmos Hub - A Rising Tide Lifts All Cosmos Boats 🚤🪐 Cosmos Hub is getting a major facelift and the entire ecosystem is underestimating it. My thesis is that the Cosmos Hub 2.0 upgrade, ICS & ICA will start a sustained bull market in the Cosmos ecosystem in 2023. A 🧵

📈 Fundraises:

Leading executives for crypto investment and trading firms Galaxy Digital and Genesis are raising $500M for a new crypto fund called DBA Crypto

Limit Break, a startup building web3 massively multiplayer online (MMO) games, raised $200M. Incorporates NFTs into the “free-to-play” payment model for mobile games. Linked to DigiDaigaku NFT collection

Reddit co-founder's VC firm seeking $177.6M to invest in crypto tokens

Animoca set to announce $100M funding deal led by Singapore state investor, Temasek, in the form of convertible bonds

Web3 game developer and publisher Xterio has raised $40M from FTX Ventures and others at a $300M valuation

DeFi oracle provider Redstone closes a $7M round led by investment firm Lemniscap

NFT security startup Tokenproof raised $5M in a seed funding round for its solution to the scourge of scams draining crypto collectibles

Clockwork, a decentralized automation network for Solana, closed a $4M seed round co-led by Multicoin Capital and Asymmetric

Gearbox, an on-chain composable leverage protocol, has raised a $4M DAO round from investors at Placeholder, Zee Prime, Ledger Prime, Polymorphic and GCR

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