Base Implements Fault Proofs, Accelerating Decentralization
Base, Coinbase's Ethereum Layer 2 platform, will implement fault proofs on October 30, 2024, to enhance decentralization
> This implementation aims to eliminate single-entity control over the Base network
> Fault proofs will allow any participant to challenge potentially fraudulent transactions, improving security
> The upgrade is modeled after a similar deployment on Optimism's OP Mainnet
This move marks a key step towards a more secure and decentralized Layer 2 ecosystem
Chain Abstraction: A Myth
Chain Abstraction aims for seamless crypto use but struggles with liquidity rebalancing
Key Challenges
> Limited Market: DeFi bridging is only $8B monthly, leading to low fees (<5 bps)
> Bridge Losses: Many operate at a loss, reliant on token incentives
> Solver Issues: Less than ten major solvers exist, often unprofitable
> CEX Problems: Centralized exchanges face complex rebalancing
Potential Solutions
> New tokens can help but increase fragmentation
> More liquidity is needed, but user and LP expectations conflict
> Projects like Optimism show promise but don't solve all bridging issues
Real efficiency gains are needed for Chain Abstraction to succeed. Collaboration among projects is crucial to address these challenges
https://x.com/ImperiumPaper/status/1848915795356623335?t=5iLuWRhiyTGkEEardUeAGA&s=09
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> Bullish on Chain Abstraction
https://x.com/eli5_defi/status/1849118632766513644
> BrahmaFi - The Ultimate On-Chain Account
https://x.com/eli5_defi/status/1849089672414400848?t=jW-HSh4wJT6vbDXZxtSCUQ&s=19
https://x.com/Yennii56/status/1848960641392165117?t=adq5Ziw6sBgceFQz69AWfQ&s=09
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> Bifrost Liquid Wave Program
https://x.com/eli5_defi/status/1849052660768637418?t=O1ralVK8KsU2Y1QSUGkEzg&s=19
> 0G Labs - Decentralized AI OS
https://x.com/eli5_defi/status/1848997813524566523
https://x.com/ChrisJourdan/status/1848802081983148477?t=LKfeGt7TTqYdeuojlW89nQ&s=09
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Eli5DeFi News Recap
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Eli5DeFi X | Telegram | Farcaster | Newsletter (Relaunch Soon)
————
⭐️HIGHLIGHTS ⭐️
> Bitcoin - Volatility Expected to Surge After SEC's Spot ETF Options Approval
> Gary Gensler - Crypto Legacy: A Countdown to Uncertainty
> RAK - Introduces a New Legal Framework for DAOs Called the DAO Association Regime (DARe) in the UAE
————
⭐️ELI5 THREAD ⭐️
> Bring Joy Back To DeFi - Asymmetry Finance
> Will GPUs DePIN Shape the Future of AI? feat. IONet
> Nudge - Know Your Wallet's Worth
————
⭐️ NEWS ⭐️
> FSB and BIS - Flag Tokenization Risks, Call for Increased Regulation
> AI Cult Memecoins - A Bizarre Crypto Trend
> Goldfinch - Cuts Ties with Ghosting Risk Advisor Amidst Lending Struggles
> Pump.Fun - Meteoric Rise: Solana Token Issuer Nears $1 Million in Fees
> Buenos Aires - Improves Citizen Privacy with Zero-Knowledge Proof App
> Aurum - Launches $1B Tokenized Fund for Data Center Investments on XRP Ledger With Zoniqx
> Realms - Solana's Governance Platform Goes for Profit
> Memex - The AI-Powered Meme Engine Shaping Society
> AMMs - A Complete Guide to Automated Market Makers
> Zero1 Labs x NEAR - Strategic Partnership to Advance Decentralized AI: Hackathons, Product Validation, and Community Building
> SCR Token - Hits $212 Million Market Cap: A Promising Start or Another Crypto Setback?
> Magic Eden - Expands Blockchain Support to BeraChain and ApeChain: Eyes Monad
> Anthropic - Announces Upgraded Claude 3.5 Sonnet with Significant Coding Improvements and a New Claude 3.5 Haiku Model
> Azura - Onchain Interfacing Layer
> Ostium Labs - Introduces Strategies: The US Election Trading App
> Pump.fun - Launches a New Video Tokenization Feature
> Puffpaw - Introduces Leasing-Borrowing Program: Help Quit Smoking or Vaping
> Chromia - Enhancing AI Data Transparency Through Code
> OpenEden - Surpasses $150 Million in Total Value Locked (TVL) for Tokenized US Treasury Bills
> Optimism - Building the Future Together: The Optimism Collective and the Superchain Ecosystem
> gm.ai - Launches the PaperHands Tool on Solana: Calculates Missed Solana Profits
> OurNetwork - Q4 2024 Decentralized Platform Performance: Polymarket, Karate Combat, MetaDAO, and Zora
> Avalanche - Launches AVAX: Visa Card for Cryptocurrency Payments
> Degen News - $SOL/$ETH Hit a New All-time High (ATH)
> Polymarket - Launches Compliance Checks on Significant U.S. Wagers
———
⭐️ BOOKMARKED
> Paolo Ardoino - Tether Doubles Down on Transparency Amidst Regulatory Scrutiny
> Paul Tudor Jones - Predicts Inflation, Favors Bitcoin and Gold Over Bonds
> Andy Barr - Visions Crypto Priorities: A Bid for House Financial Services Committee Leadership
> Rep. French Hill - Remains Hopeful for Crypto Bills Before Year's End
> Usual Money Podcast - Discussing Tether, DeFi Valuation, and Stablecoin Success Metrics
> Teng Yan - GOAT: The King of AI Memecoins? A Deep Dive into Truth Terminal and Its Implications
> jenniekusu - Meme Coins as Cultural Bridges: How $GOAT Transforms the Crypto Landscape
> The Black Swan - The House Money Effect: Risking Time and Fortune
> a16z - How An AI Bot Created a $300 Million Meme Coin
> Yash Agarwal - Stripe's Stablecoin Future: A Bullish Outlook and the Rise of Bridge
> 0xMert_ - Founder-Led Messaging: 5 Keys to Success
> OaktreeCap - Ruminating on Asset Allocation: A Return to Fundamentals
> Joel John - The Financialization of Social Networks: The Next Big Social Network Could Be an Exchange
> Ekram - The Crypto Brand Blueprint: Positioning & Branding Strategies
> EigenLayer Unlocked - An AVS vs Rollups Discussion
> EigenLayer Unlocked - Espresso & the Solution to L2 Fragmentation
> Andy - Ethereum Blob Fees and the Future of Layer-2 Scaling
> Sasha Plotvinov - How Binance and "Poor Guys" Conquered Telegram Gaming
> Squiggly Hair Shanks - Scroll_ZKP Launch Underwhelms: A Case Study in Crypto Market Sentiment
————
⭐️ FUNDING⭐️
> Ordzaar - $2M Seed Round
> Hata - $4.2M Seed Round
> Metaplanet - Raises $66 Million
————
⭐️ TESTNET/ AIRDROP⭐️
> N/A
https://x.com/xkonjin/status/1848802936433840155
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The Rise of AI Cult Memecoins: A Bizarre Crypto Trend
AI-cult memecoins, often lacking actual AI connection, have created a new billion-dollar niche in the crypto market
> The memecoin market is booming at nearly $63 billion, dominating trading volume on many exchanges
> Retail traders are drawn to memecoins due to their perceived fairness and unlocked token supply
> Hype and speculative trading are key drivers of memecoin success
> Solana is a prominent platform for AI memecoin activity
Memecoins now account for 25%-30% of the total market cap of the top 50 altcoins, highlighting their dominance in the crypto sector
Memex: The AI-Powered Meme Engine Shaping Society
"Memex," an AI program designed to create and strategically deploy memes to manipulate public opinion and influence society, raising ethical concerns about potential "meme warfare"
> Memex analyzes social trends and generates memes to influence public opinion and behavior
> Memex are designed for targeted emotional resonance and political impact
Memex raises ethical concerns about manipulation and calls for oversight in the digital influence landscape
Eli5DeFi News Recap
Support us by subscribing :
Eli5DeFi X | Telegram | Farcaster | Newsletter (Relaunch Soon)
————
⭐️HIGHLIGHTS ⭐️
> ANZ - Pilots Chainlink's Privacy Protocol for Tokenized Asset Settlement
> Uniswap Labs - Accused of Backroom Deal in Unichain Launch
> Indonesia - Extends Deadline for Crypto Exchange Licenses, Amidst Regulatory Updates
————
⭐️ELI5 THREAD ⭐️
> Bring Joy Back To DeFi - Asymmetry Finance
> Will GPUs DePIN Shape the Future of AI? feat. IONet
> Nudge - Know Your Wallet's Worth
————
⭐️ NEWS ⭐️
> Sky - Rebrand Faces Community Backlash: Return to Original Identity Considered
> Raydium - Surpasses Ethereum in 24-Hour Transaction Fees
> WuKong - Launches Massive Solana Airdrop & NFT Mint: Targeting Holders of Solana Saga and Seeker, Raydium Users, and Owners of Specific Memecoins and NFTs
> Restaking - The Ultimate 2024 Market Overview: A Comprehensive Report
> APE - Leads the Charge: $50 Million in Altcoin Options Traded on PowerTrade
> Pump.fun - Sells $6.68M in SOL, Total Revenue Reaches $162M
> On-Chain Perpetual Contract - Transaction Volume Analysis: Q2 & Q3 2024: Hyperliquid Leads
> OKX - Launches Spot Trading for NEIRO/USDT
> Across Protocol - Proposes ACX Token Supply Cap After Contract Scrutiny
> Iranian Cryptocurrency Exchanges - Under Pressure from Sanctions
> The Arena App - Announces the $ARENA token launch date as October 29th: Prepares for Massive User Influx
> Super Bitcoin - A Five-Layer Architecture for a Value Internet Sharing Bitcoin's Consensus Security
> UniSat - Launches UniSat's CAT Market on Fractal's Bitcoin Mainnet
> Bitget x Solayer - Launch BGSOL: A Liquidity Staking Solution for Solana with Flexible Asset Management and High Yields
> Kyber Network - Exploit: Over $6 Million in ETH Laundered Through Tornado Cash in 48 Hours
> EIP-7702 - Bringing Smart Account Features to Ethereum EOAs
———
⭐️ BOOKMARKED
> defioasis - Memecoins vs VCcoins: Why the Attention Economy is Winning
> Andy - The End of Airdrop Bonanzas: A New Era for Token Distribution
> Brett Winton - Analyzing the Discrepancy Between Prediction Markets and Poll Forecasts
> Andy - Building the Future of Crypto Apps: Appchains and the Modular Ethereum Ecosystem
> jonathanjoseph - Stripe's Bridge Acquisition: A Game-Changer for Fintech and Web3?
> Chicken Genius - The Rise of AI Agents: From Proof of Concept to Consumer Product
> Jason Choi - Navigating Crypto Timeframes
————
⭐️ FUNDING⭐️
> Karpatkey - $7 Million Funding Round
————
⭐️ TESTNET/ AIRDROP⭐️
> N/A
Eli5DeFi News Recap
Support us by subscribing :
Eli5DeFi X | Telegram | Farcaster | Newsletter (Relaunch Soon)
————
⭐️HIGHLIGHTS ⭐️
> Ripple CEO - De-Banked by Citigroup due to His Prominent Role in Crypto
> MakerDAO - Reconsiders Sky Rebrand Amid Low Adoption and Community Backlash
> Across Protocol - Uniswap's New Permissionless Bridge Addresses User Demand
> Denmark - Considers Tax on Unrealized Crypto Gains: A New Era for Digital Asset Regulation
————
⭐️ELI5 THREAD ⭐️
> BrahmaFi - The Ultimate On-Chain Account
> Eli5DeFi - Bullish on Chain Abstraction
> 0G Labs - Decentralized AI OS
> Bifrost - Liquid Wave Program
————
⭐️ NEWS ⭐️
> Bitcoin - Retail Activity Demand Spikes in October, Mirroring Pre-ATH Trends
> Solana's Mobile App - A New Era for Blockchain Adoption
> Nigerian Government - Drops Charges Against Binance Executive
> Raydium - Solana's Dominant DEX & its Future Prospects
> zkLink - Postpones Token Vesting, Citing Strategic Market Positioning
> Hyperliquid - Enables 3x Leverage for $GOAT Trading
> Data Availability - Cost Analysis: Ethereum Blobs, Celestia, and the Impact of SuperBlobs on Rollup Efficiency
> raspberryberry/tap-launch-preparation-q-a-a32b25334700">TAP Protocol - Launches Token Airdrop, Exchange Listings, and New Features Detailed
> RUSSELL - Cryptocurrency: Mysterious On-Chain Activity Surrounding RUSSELL Cryptocurrency
> Chromia's Asgard Upgrade - Introducing Chromia Extensions and the Oracle Extension
> Virtuals Protocol - A Deep Dive into AI Agent Co-ownership and Decentralized Finance
> Lazarus Hackers - Exploit Chrome Zero-Day via Fake DeFi Game
> ZKsync - The Future of Tokenization: Revolutionizing Asset Management
> FSB - Finds Tokenization Poses Low Risk to Global Finance, But Warns of Future Vulnerabilities
> Ripple CEO - Predicts Crypto 'Reset' After US Election, Criticizes Biden Administration
> Tesla - Shuffles $780 Million Bitcoin Stash, Sparking Market Volatility
> Core Scientific - AI Expansion: A Multi-Billion Dollar Bet with CoreWeave
> Satflow - Introduces a New DEX for Professional Traders Focusing on the Ordinals and Runes Ecosystems
> D3 Global x Identity Digital - Tokenize Domains, Aiming for Web2/Web3 Interoperability
> Polymarket - Whale Trades Briefly Dip Trump's Presidential Odds
———
⭐️ BOOKMARKED
> Bernstein - Predicts $200,000 Bitcoin Price by 2025: A Conservative Estimate?
> ZachXBT - Alleges Chinese Trader's Role in Lazarus Group's Cryptocurrency Laundering Scheme
> Vitalik Buterin - Verge: A Roadmap for Stateless Ethereum Clients
> Rex Woodbury - Go Deep, Go Broad: Unlocking Startup Success Through In-Depth Understanding
> AVC - Losing Money: Lessons from a Venture Capitalist's Journey
> Kain.eth - Infinex Patron Sale Retrospective: Successes, Challenges, and the Path Forward
> Ryan Watkins - Crypto AI's Rapid Ascent: Echoes of Early DeFi?
> Peter Schroeder - The Stablecoin Revolution: Reshaping Global Finance
> resdegen - Will $ACT Become a Decentralized AI Swarm? A Look at Memetic AI and Crypto Reflexivity
> Howard - Navigating the TON & Telegram Tech Stack
> Chaos Labs - The Evolution of Web3 Prediction Markets
> officercia.eth - Modern Defense Tactics for Cryptocurrency Security: 5 Key Strategies
> seedclubhq/seedclub-network-news-oct-23-2024">Cheryl Douglass - AI-Powered Memecoins: A New Era in Crypto?
> Jason Shubnell - The Impact of Elon Musk's Political Involvement on the Crypto Market
> mystri.eth - Proxy Providers and the Decentralization of Crypto
> aeyakovenko - Price Discovery and Fee Mechanisms in Blockchain Networks: BTC, ETH, and Beyond
> Bradley Keoun - WBTC's Restructuring: Justin Sun's Role and the Fight for Trust
> Timothy Burgess - Crypto in Your Portfolio: Enhancing Returns and Risk-Adjusted Performance
> Jennifer Schulp, Jack Solowey - Stablecoins and the Fed: A Conflict of Interest?
————
⭐️ FUNDING⭐️
> Borderless.xyz - Raises $3 Million Pre-seed Round
> Variational - Raises $10.3 Million
> Azura - $6.9M Seed Round
> Party Icons - Raises $9 Million Seed Round
————
⭐️ TESTNET/ AIRDROP⭐️
> N/A
Solana's Mobile App Boom: A New Era for Blockchain Adoption
Solana is experiencing a surge in mobile app development, with several projects launching or planning mobile versions to improve user accessibility and potentially capitalize on the success of platforms like Telegram
> Solana's mobile app ecosystem is rapidly expanding, with projects like Jupiter, DRiP, Birdeye, and Cube Exchange developing mobile applications
> Upcoming apps include Cube’s Telegram app next week and an iOS version in November, with DRiP anticipated in December
This movement toward mobile represents a pivotal moment for Solana, aiming to enhance user accessibility in the crypto world
Introduces Across Protocol: Uniswap's Permissionless Bridging Across Nine Networks
Uniswap has launched permissionless bridging across nine networks (Ethereum, Base, Arbitrum, Polygon, OP Mainnet, Zora, Blast, World Chain, and ZKsync), powered by Across Protocol, addressing user demand for easier cross-chain asset movement
> This new feature aims to simplify cross-chain asset transfers, addressing challenges with existing methods
> Across Protocol's permissionless design uses a decentralized network of liquidity pools and relayers
Uniswap’s seamless bridging is a game-changer, unlocking effortless cross-chain transfers and redefining user experience in crypto
https://x.com/HyperliquidX/status/1849071650911977878?t=rtSQUb9i3LcpAvsp0T-wjw&s=09
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Eli5DeFi News Recap
Support us by subscribing :
Eli5DeFi X | Telegram | Farcaster | Newsletter (Relaunch Soon)
————
⭐️HIGHLIGHTS ⭐️
> Bitcoin - Stumbles at $70K, Pulling Crypto Market Down: DOGE, XRP Lead Losses
> India - Bold Move: Considering a Ban on Cryptocurrencies for a Central Bank Digital Currency
> Vitalik Buterin - Critiques Michael Saylor's Crypto Regulatory Approach
————
⭐️ELI5 THREAD ⭐️
> 0G Labs - Decentralized AI OS
> Bifrost - Liquid Wave Program
> Bring Joy Back To DeFi - Asymmetry Finance
> Will GPUs DePIN Shape the Future of AI? feat. IONet
————
⭐️ NEWS ⭐️
> BitFuFu Inc. - Acquires 80-MW Bitcoin Mining Facility in Ethiopia, Increasing Global Footprint
> Bitfinex - Lending Rates Surge to 30% APR, Signaling Bull Market
> Elixir Network - Announces the Launch of Mainnet Phase I: The Initial Step Towards Decentralization
> The Ultimate Chain Abstraction Guide - A Deep Dive into the Stack
> Tesla - Holds Onto 11,509 BTC Despite Recent Wallet Activity
> $FLAVIA - A Deep Dive into the Next Memecoin Sensation
> Spot Bitcoin ETF - See $79 Million in Outflows After Seven-Day Inflow Surge
> CreatorBid - Launches First AI Agent Launchpad on Base
> Ethereum - Verge Roadmap: A Deep Dive into Stateless Verification and Validity Proofs
> Parallelization in Blockchain - A Deep Dive into Solana and Beyond
> Circle - Expects the UK to Introduce Stablecoin Laws in 'Months, not Years'
> Japan - Cautious Approach to Crypto ETFs: Tax, Regulation, and the Path Forward
> Nigeria Court - Drops Charges Against Binance Exec Tigran Gambaryan Amidst Ongoing Money Laundering Case Against Company
> DRW CEO - Slams SEC's Crypto Crackdown, Drawing Parallels to Past CFTC Victory
> Partisia Blockchain - Addressing Data Privacy Concerns in Public Blockchains
———
⭐️ BOOKMARKED
> Jesse Knutson - Bitcoin's Superior Security: A Foundation for the Next Generation of Capital Markets
> nate - Hiring Quality Marketing Talent in Crypto: The Current Challenges
> YB - The Barbell Strategy: Positioning in the Evolving Stablecoin Landscape
> Nexus - PvP Intensifies: Hot Ball of Money Shrinking
> Game for One - Systematize Your Memecoin Trading: A Checklist Approach
————
⭐️ FUNDING⭐️
> N/A
————
⭐️ TESTNET/ AIRDROP⭐️
> N/A
https://x.com/zachxbt/status/1849071080180240751?t=mc-lv_ltHxuNMXO0PbAHAQ&s=09
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Magic Eden Expands Support for BeraChain and ApeChain
Magic Eden, a Solana-based NFT platform, expanded its blockchain support to include BeraChain and ApeChain, aiming for 10 supported blockchains by year's end and targeting Monad next
> BeraChain features three tokens - BEX, BGT, and HONEY: Utilizes a “proof of liquidity” consensus mechanism
> BeraChain recently secured $100 million in Series B funding
> ApeChain is an infrastructure layer for the ApeCoin ecosystem
Magic Eden aims to support 10 blockchains by the end of the year
Magic Eden also plans to add support for the Monad Layer 1 network after its testnet launch
https://x.com/alphawifhat/status/1848995413136969798
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https://x.com/TheSpartanGroup/status/1848680517996310702
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Hi Guys,
I have some exciting news! I've secured 10 whitelist spots for the upcoming 0G Node Sale.
To enter, simply leave your address in the comments below, and they'll randomly select the winners. You have until November 3rd to participate!
Good luck!
....
Official Announcement
0G Official Links
Node Sales Spaces & FAQs
Disclaimer
https://x.com/akachacolate/status/1848863349947457749
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Mastering AMMs: A Guide to Automated Market Makers in DeFi
AMMs have evolved from simple CPMMs to advanced hybrid and dynamic models
> Introduced concentrated liquidity, allowing users to allocate funds within specified price ranges
> Use the formula $x \cdot y = k$ for token swaps
> Focus on optimization, user experience, and ongoing challenges like slippage
AMM growth depends on balancing technical complexity with user accessibility for broader DeFi adoption
https://x.com/redhairshanks86/status/1848653068554166339?t=5NFvQArZPxpdQyCX8WYk3w&s=09
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https://x.com/pmarca/status/1848795488579162268?t=PTDhWs41f_FyuX-jQ0N7qA&s=09
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CCIP Private Transactions: Revolutionizing Institutional Blockchain Adoption with Enhanced Privacy
Chainlink introduced CCIP Private Transactions, enhancing privacy for cross-chain transactions
> ANZ is piloting the capability for cross-chain settlement of tokenized assets under the MAS Project Guardian initiative
> CCIP Private Transactions uses on-chain encryption and decryption, keeping transaction details private
> The system allows institutions to define privacy conditions, enabling authorized parties to access data while keeping it private from others
