Daily Bullets 💊: Big News Coming Out of Cosmos Conference — ATOM 2.0
💊 M6 Daily Bullets 💊 Monday, September 26th
Crypto markets stayed fairly sideways over the weekend. Bitcoin hanging in the $18k-$19k region and ETH ~ $1300. In the meanwhile, everyone’s been commenting on the pound-dollar rate hitting all-time low, LUNC getting another boost due to Binance’s tax burn decision and the Cosmoverse conference this week should also bring some interesting news for the Cosmos ecosystem.
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⛓ Crypto News:
- Authorities in South Korea claim Interpol has issued a red notice for the arrest of Terraform Labs CEO Do Kwon
- Binance to burn all LUNC trading fees following community feedback
- The whitepaper for the revamped ATOM 2.0 upgrade revealed during the first day of the Cosmoverse conference in Medellin, Colombia. Outlines a revamped role for the Hub as the heart of interchain security and a new issuance model for ATOM
- Launching PancakeSwap StableSwap — lower slippage & fees for stable pair trades
- Another hacker has stolen $950,000 in ETH via the same vanity address exploit linked to an attack on trading firm Wintermute — using vanity addresses created by a tool called Profanity
- Grayscale Bitcoin Trust (GBTC) is now trading at a record discount of more than 35% compared to the value of the underlying asset
- Pentagon contracts with Inca Digital for a security-focused digital asset mapping tool
- Both Ripple and the SEC have filed motions for summary judgment in the $1.3B lawsuit, each seeking to dismiss the lawsuit before trial and asking the judge to rule in their favor
- Australian CBDC pilot test for eAUD to commence mid-2023
- CFTC’s Ooki DAO legal action shatters illusion of regulator-proof protocol — raises still-unanswered questions about who is culpable when a DAO commits a crime
- Vitalik Buterin expects proof-of-work blockchains like Zcash and Dogecoin to transition to proof-of-stake consensus
- Blockchain firm, Veritaseum, sues Coinbase for $350M alleging patent infringement and potentially unlawfully used the patent to facilitate crypto payments, trading, and staking services
- Binance Futures will launch USDⓈ-M ICP perpetual contracts with up to 25x leverage
- TruTrace Technologies and VeChain enter into a strategic integration partnership — will collectively advocate for the use of blockchain within product provenance and traceability
- Tezos activates Kathmandu protocol upgrade on its mainnet
- Polkadot Ecosystem Weekly Digest
- Sifu, the pseudonymous co-founder of failed Canadian crypto exchange QuadrigaCX, has started UwU Lend, a DeFi protocol forked from Aave
- OpenBlock — introducing the first MPC wallet for Aptos
- Aragon community voting to transfer treasury funds after dissolving old DAO
- Orb — first mobile app fully built with Lens Protocol is here. Inviting 13000+ waitlisted users to the private beta
- The Mars v2 whitepaper
- Introducing Sound Protocol — building web3 tools for artists
- WormholesChain will launch a global public test event on September 28
- An application uniquely enabled by recursive SNARKs — Isokratia, a trust minimized governance platform with off-chain (free) voting
- Nazare is officially live — the Waves of Liquidity have arrived on Solana
What’s your take on today’s news? Anything interesting that you have to say about these stories? Did we miss anything that should’ve been included?
📊 Data:
TL;DR: Most money flowing in today into Compound Dai and ETH and flowing out of stables like cUSDC, USDC, USDT. Weekly biggest inflow is currently USDC followed by Compound DAI and ETH. Weekly outflow is low and mostly from USDT, WETH and Compound USDC. Interesting to note that the amount of ETH on exchanges has slowly been going down since a large spike just before the Merge that coincided with the selloff.
- Nansen Smart Money Holdings Token Inflow and Outflows: Tracking what the whales are up to…
- Inflow (1D): cDAI ($38.8M), cETH ($11.9M), WETH ($6.4M), CQT ($511k), WBTC ($377k)
- Outflow (1D): cUSDC ($11.1M), USDC ($7.8M), USDT ($3.4M), COMP ($3.2M), DAI ($508k)
Weekly:
- Inflow (7D): USDC ($125M), cDAI ($40M), cETH ($30.4M), aUSDC ($27.8M), stETH ($7.5M)
- Outflow (7D): USDT ($19.4M), WETH ($13.4M), cUSDC ($13.1M), RPL ($12M), BUSD ($8.8M)
- Nansen NFT Hot Contracts:
- Legendary Dancing Seahorse: 870 ETH
- BAYC: 731 ETH
- Texas Holdem Genesis: 439 ETH
- MAYC: 374 ETH
- ENS: 363 ETH
What is the Data telling you? See anything that sticks out to you?
🎓 Research:
- Stanford — Reversible Transactions on Ethereum: ERC-20R and ERC-721R — source
- Phases of Cosmos — source
- Exploring the Cosmos — source
- Nansen’s Avalanche Quarterly Report — Q2 2022 — source
- A Seismic Event — The Great Repricing — source
- Polyna — Blockchain apps — source
- Macroprudential Considerations for Tokenized Cash — source
- The Divine Dichotomy Macro Update: A glimpse into the continuous upticking inflation — source
Have you seen our institutional-quality research?
🖼 NFTs/Metaverse News:
- Disney hiring transaction lawyer for ‘aggressive’ NFT and DeFi plans
- NFT app developers backlash at a decision by Apple to impose a 30% commission on NFTs sold through apps on its marketplace, putting NFT purchases in the same boat as regular in-app purchases and similar to that imposed by Android’s app store Google Play
- NFTs will spawn the next Marvel or Disney, says Solana Founder — a juggernaut IP could emerge from the current crop of NFT projects
- Dapper’s official NFL platform has topped the NFT charts lately, thanks to rising activity on days when real-world games are played
- Stargaze Studio is now live — creators can launch collections without writing a single line of code, all from a friendly web app
- DREP $5M in DREP-eco funding to strengthen the plans of DREP to develop NFT-related products and its GameFi 2.0 launch
- Axie Esports Grant 3: 160,000 AXS
- Metarun — The first phase of the Open Beta Launch — the community launch is now live
📈 Fundraises:
- Binance Labs backs Mysten Labs in Series B funding to drive the development of layer-1 infrastructure
- Banking giant Nomura invests in payments firm Fnality and joins its international consortium of global banks
- Nibiru, a new crypto derivatives protocol co-founded by Tribe Capital GP Arjun Sethi, has raised $7.5M in seed funding at a valuation of $100M
- Web3 decentralized social identification platform TwitterScan has raised $4.56M seed by Redpoint Ventures
- Kapital DAO, a leader in Web3 gaming asset management tech, announces funding support from Web3 leaders including Polygon Ventures, Solana Foundation, and Algorand Foundation
