BlackRock’s Stablecoin Fears 😨 , Dapper Disney NFTs 👑, OKX Launching L2 ⛓️
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<div style="display:none; font-size:0px; line-height:0px; max-height:0px; max-width:0px; opacity:0; overflow:hidden; visibility:hidden; mso-hide:all;">BlackRock has called attention to the risks posed by stablecoins such as USDC and USDT in its application for a Bitcoin ETF. </div>
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<h3><strong>TLDR Crypto <span id="date">2023-11-15</span></strong></h3>
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<a href="https://crypto.news/blackrock-spotlights-stablecoin-risks-in-bitcoin-etf-filing/">
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<strong>BlackRock Spotlights Stablecoin Risks in Bitcoin ETF Filing (2 minute read)</strong>
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BlackRock, a leading global asset manager, has called attention to the risks posed by stablecoins such as USDC and USDT in its application for a Bitcoin ETF. Although not directly allocating funds to stablecoins, the firm acknowledges the potential risks they present to Bitcoin and the crypto market as a whole. While outlining any and all risks in disclosures is simply standard practice in any filing, these statements still raised eyebrows as BlackRock provides financial products to Circle, the company behind USDC.
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<a href="https://www.ccn.com/news/coin-center-asks-for-more-us-regulations/">
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<strong>Coin Center Calls on Clearer Regulations In The US - Is Congress Open to It? (5 minute read)</strong>
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Cryptocurrency advocacy group Coin Center has proposed recommendations to US Senators Ron Wyden and Mike Crapo about legislation related to crypto taxation. These proposals include requiring the IRS to create an exemption for minor cryptocurrency transactions, excluding digital assets from secondary reporting obligations under US tax law, and clarifying the definition of a broker to exclude certain individuals within the crypto space. The suggestions also advocated for more clear guidelines on block rewards, airdrops, and hard forks for tax purposes.
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<a href="https://www.coindesk.com/tech/2023/11/14/cryptocurrency-exchange-okx-coming-out-with-layer-2-x1-built-on-polygon-technology/">
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<strong>Cryptocurrency Exchange OKX Coming Out With Layer 2 ‘X1’ Built on Polygon Technology (2 minute read)</strong>
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OKX announced plans to launch an L2 network named 'X1' using Polygon's Chain Development Kit. The network, anticipated to launch in Q1 of 2024, will employ Polygon's zk tech stack, a burgeoning type of cryptography in the blockchain space. OKX's native token, OKB, will be used for gas fees on X1. This move comes on the heels of Coinbase’s successful launch of Base and Kraken’s announcement of its own L2.
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<a href="https://www.theblock.co/post/263005/disney-and-dapper-labs-launch-star-wars-pixar-digital-pin-platform">
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<strong>Disney and Dapper Labs Launch Star Wars, Pixar 'Digital Pin' Platform (2 minute read)</strong>
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Disney is partnering with NBA Top Shot creator Dapper Labs to launch a platform for users to buy and trade branded NFTs in the form of “digital pins”. The initiative, named Disney Pinnacle, aims to digitize pin collecting and will feature characters from Disney, Pixar, and Star Wars. The platform, informed by lessons from Dapper Lab's NBA Top Shot experience, is set to launch on the Apple App Store by the end of the year.
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<a href="https://hedera.com/">
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<strong>Stablecoin Studio: easily build stablecoin applications (Sponsor)</strong>
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<span style='font-family: "Helvetica Neue", Helvetica, Arial, Verdana, sans-serif;'>
<a href="https://hedera.com/" rel="noopener noreferrer nofollow" target="_blank"><span>Stablecoin Studio</span></a> is an open-source SDK that makes it easy to build stablecoin applications on the Hedera network. It’s used by web3 stablecoin platforms, institutional issuers, enterprises, and payment providers.
<p>🚀 Easily deploy new applications</p>
<p>🙌 Simplify digital asset operations</p>
<p>🪙 $0.001 Stablecoin transfer fee</p>
<p><a href="https://hedera.com/" rel="noopener noreferrer nofollow" target="_blank"><span>Start building with Stablecoin Studio</span></a>
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<a href="https://twitter.com/blackbeardXBT/status/1724063348126269848">
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<strong>How to Use DEX Screener the Right Way (3 minute read)</strong>
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This thread details how to use DEX Screener, a tool for tracking real-time crypto price and market data, to spot potentially profitable trades ahead of the crowd. The thread goes through DEX Screener's various functions, including multichart and portfolio tracking, and how to set filters for better analysis. It also advises going off of DEX Screener and checking the project's website, team, community, and papers to conduct more thorough research.
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<a href="https://variant.fund/articles/progressive-ownership-model-application-tokens/">
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<strong>Progressive Ownership: A Model for Application Tokens (12 minute read)</strong>
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This post from Variant details a new token distribution model that it is coining as ‘progressive ownership’. This framework involves measuring value with tokens, which would incentivize users to deepen their engagement with protocols or apps. Variant also outlined the shortcomings of previous token distribution models, such as the proof of work model, ICOs, and airdrops. It argues that tokens should be used thoughtfully, targeting power users to maintain engagement and encourage sustainable growth.
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<div style="text-align: center;"><strong><h3>Miscellaneous</h3></strong></div>
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<a href="https://vitalik.eth.limo/general/2023/11/14/neoplasma.html">
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<strong>Exit Games for EVM Validiums: The Return of Plasma (12 minute read)</strong>
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<span style='font-family: "Helvetica Neue", Helvetica, Arial, Verdana, sans-serif;'>
This post from Vitalik Buterin discusses the evolution of Plasma, a blockchain scaling solution, and its applications. Despite initial hurdles like high data storage costs and issues in generalizing beyond payments, the introduction of validity proofs or ZK-SNARKs has potentially breathed new life into Plasma. These proofs could efficiently address the biggest challenge faced by Plasma. Buterin delves into more technical aspects of Plasma and how it would work for NFTs, fungible tokens, and the EVM.
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<a href="https://www.privy.io/blog/consumer-crypto">
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<strong>The Builder’s Perspective on Consumer Crypto (10 minute read)</strong>
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<span style='font-family: "Helvetica Neue", Helvetica, Arial, Verdana, sans-serif;'>
This builder report reveals that consumer crypto application developers are focusing on making user onboarding and fund activation more seamless for newcomers. The builders believe that key factors for successful applications are a smooth transaction experience, a fast activation funnel, secure processes, and engaging experiences. There's also increased emphasis on developing mobile-first, social, and media-rich applications that require little technical knowledge. High transaction fees and bridging are persistent issues that developers in the space are still grappling with and looking for solutions for.
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<a href="https://theknower.substack.com/p/a-short-report-on-bittensor-and-ai">
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<strong>A Short Report on Bittensor and AI: What in the World is a Bittensor and Why Should Anyone Care? (22 minute read)</strong>
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This post provides an in-depth analysis of Bittensor, an AI x crypto project, discussing its architecture, tokenomics, and challenges, aiming to clarify misconceptions and highlight its potential in the space.
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<a href="https://thedefiant.io/nft-trading-volume-hits-4-month-high">
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<strong>NFT Trading Volume Hits 4-Month High (2 minute read)</strong>
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NFT trading volume has reached a four-month high, driven partly by airdrop farmers returning to Blur ahead of its next round of airdrops.
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<a href="https://cointelegraph.com/news/delaware-authorities-refer-fake-blackrock-xrp-trust-filing-to-state-s-justice-department">
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<strong>Delaware Authorities Refer Fake BlackRock XRP Trust Filing to State’s Justice Department (2 minute read)</strong>
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Delaware authorities are referring a fake BlackRock "iShares XRP Trust" filing to the state's Department of Justice for potential investigation.
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<a href="https://alexablockchain.com/agrotoken-launching-on-polkadot/">
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<strong>Agrotoken Launching on Polkadot to Transform Agricultural Commodity Market (3 minute read)</strong>
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Agrotoken is partnering up with Visa and launching on Polkadot, having tokenized $105 million in agricultural commodities already and aiming to revolutionize agriculture with stablecoins backed by grains and food.
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BlackRock has called attention to the risks posed by stablecoins such
as USDC and USDT in its application for a Bitcoin ETF.
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TLDR
TLDR CRYPTO 2023-11-15
📈
MARKETS & BUSINESS
BLACKROCK SPOTLIGHTS STABLECOIN RISKS IN BITCOIN ETF FILING (2 MINUTE
READ) [5]
BlackRock, a leading global asset manager, has called attention to
the risks posed by stablecoins such as USDC and USDT in its
application for a Bitcoin ETF. Although not directly allocating funds
to stablecoins, the firm acknowledges the potential risks they present
to Bitcoin and the crypto market as a whole. While outlining any and
all risks in disclosures is simply standard practice in any filing,
these statements still raised eyebrows as BlackRock provides financial
products to Circle, the company behind USDC.
COIN CENTER CALLS ON CLEARER REGULATIONS IN THE US - IS CONGRESS OPEN
TO IT? (5 MINUTE READ) [6]
Cryptocurrency advocacy group Coin Center has proposed
recommendations to US Senators Ron Wyden and Mike Crapo about
legislation related to crypto taxation. These proposals include
requiring the IRS to create an exemption for minor cryptocurrency
transactions, excluding digital assets from secondary reporting
obligations under US tax law, and clarifying the definition of a
broker to exclude certain individuals within the crypto space. The
suggestions also advocated for more clear guidelines on block rewards,
airdrops, and hard forks for tax purposes.
🚀
INNOVATION & LAUNCHES
CRYPTOCURRENCY EXCHANGE OKX COMING OUT WITH LAYER 2 ‘X1’ BUILT ON
POLYGON TECHNOLOGY (2 MINUTE READ) [7]
OKX announced plans to launch an L2 network named 'X1' using
Polygon's Chain Development Kit. The network, anticipated to launch in
Q1 of 2024, will employ Polygon's zk tech stack, a burgeoning type of
cryptography in the blockchain space. OKX's native token, OKB, will be
used for gas fees on X1. This move comes on the heels of Coinbase’s
successful launch of Base and Kraken’s announcement of its own L2.
DISNEY AND DAPPER LABS LAUNCH STAR WARS, PIXAR 'DIGITAL PIN' PLATFORM
(2 MINUTE READ) [8]
Disney is partnering with NBA Top Shot creator Dapper Labs to launch
a platform for users to buy and trade branded NFTs in the form of
“digital pins”. The initiative, named Disney Pinnacle, aims to
digitize pin collecting and will feature characters from Disney,
Pixar, and Star Wars. The platform, informed by lessons from Dapper
Lab's NBA Top Shot experience, is set to launch on the Apple App Store
by the end of the year.
💡
GUIDES & TUTORIALS
STABLECOIN STUDIO: EASILY BUILD STABLECOIN APPLICATIONS (SPONSOR) [9]
Stablecoin Studio [9] is an open-source SDK that makes it easy to
build stablecoin applications on the Hedera network. It’s used by
web3 stablecoin platforms, institutional issuers, enterprises, and
payment providers.
🚀 Easily deploy new applications
🙌 Simplify digital asset operations
🪙 $0.001 Stablecoin transfer fee
Start building with Stablecoin Studio [9]
HOW TO USE DEX SCREENER THE RIGHT WAY (3 MINUTE READ) [10]
This thread details how to use DEX Screener, a tool for tracking
real-time crypto price and market data, to spot potentially profitable
trades ahead of the crowd. The thread goes through DEX Screener's
various functions, including multichart and portfolio tracking, and
how to set filters for better analysis. It also advises going off of
DEX Screener and checking the project's website, team, community, and
papers to conduct more thorough research.
PROGRESSIVE OWNERSHIP: A MODEL FOR APPLICATION TOKENS (12 MINUTE
READ) [11]
This post from Variant details a new token distribution model that it
is coining as ‘progressive ownership’. This framework involves
measuring value with tokens, which would incentivize users to deepen
their engagement with protocols or apps. Variant also outlined the
shortcomings of previous token distribution models, such as the proof
of work model, ICOs, and airdrops. It argues that tokens should be
used thoughtfully, targeting power users to maintain engagement and
encourage sustainable growth.
🦄
MISCELLANEOUS
EXIT GAMES FOR EVM VALIDIUMS: THE RETURN OF PLASMA (12 MINUTE READ)
[12]
This post from Vitalik Buterin discusses the evolution of Plasma, a
blockchain scaling solution, and its applications. Despite initial
hurdles like high data storage costs and issues in generalizing beyond
payments, the introduction of validity proofs or ZK-SNARKs has
potentially breathed new life into Plasma. These proofs could
efficiently address the biggest challenge faced by Plasma. Buterin
delves into more technical aspects of Plasma and how it would work for
NFTs, fungible tokens, and the EVM.
THE BUILDER’S PERSPECTIVE ON CONSUMER CRYPTO (10 MINUTE READ) [13]
This builder report reveals that consumer crypto application
developers are focusing on making user onboarding and fund activation
more seamless for newcomers. The builders believe that key factors for
successful applications are a smooth transaction experience, a fast
activation funnel, secure processes, and engaging experiences. There's
also increased emphasis on developing mobile-first, social, and
media-rich applications that require little technical knowledge. High
transaction fees and bridging are persistent issues that developers in
the space are still grappling with and looking for solutions for.
⚡
QUICK LINKS
A SHORT REPORT ON BITTENSOR AND AI: WHAT IN THE WORLD IS A BITTENSOR
AND WHY SHOULD ANYONE CARE? (22 MINUTE READ) [14]
This post provides an in-depth analysis of Bittensor, an AI x crypto
project, discussing its architecture, tokenomics, and challenges,
aiming to clarify misconceptions and highlight its potential in the
space.
NFT TRADING VOLUME HITS 4-MONTH HIGH (2 MINUTE READ) [15]
NFT trading volume has reached a four-month high, driven partly by
airdrop farmers returning to Blur ahead of its next round of airdrops.
DELAWARE AUTHORITIES REFER FAKE BLACKROCK XRP TRUST FILING TO
STATE’S JUSTICE DEPARTMENT (2 MINUTE READ) [16]
Delaware authorities are referring a fake BlackRock "iShares XRP
Trust" filing to the state's Department of Justice for potential
investigation.
AGROTOKEN LAUNCHING ON POLKADOT TO TRANSFORM AGRICULTURAL COMMODITY
MARKET (3 MINUTE READ) [17]
Agrotoken is partnering up with Visa and launching on Polkadot,
having tokenized $105 million in agricultural commodities already and
aiming to revolutionize agriculture with stablecoins backed by grains
and food.
We help cutting edge companies hire world class technical talent
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If you have any comments or feedback, just respond to this email!
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Links:
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[4] https://actions.tldrnewsletter.com/web-version?ep=1&lc=8d666b14-57b3-11ee-af17-61de3cd44759&p=96b423e8-8385-11ee-aac4-3d7998e4e5e4&pt=campaign&t=1700054081&s=9ec94d60b7ec75fbe47debfee1c31032057cbca3865818a928504316f8148522
[5] https://crypto.news/blackrock-spotlights-stablecoin-risks-in-bitcoin-etf-filing/?utm_source=tldrcrypto
[6] https://www.ccn.com/news/coin-center-asks-for-more-us-regulations/?utm_source=tldrcrypto
[7] https://www.coindesk.com/tech/2023/11/14/cryptocurrency-exchange-okx-coming-out-with-layer-2-x1-built-on-polygon-technology/?utm_source=tldrcrypto
[8] https://www.theblock.co/post/263005/disney-and-dapper-labs-launch-star-wars-pixar-digital-pin-platform?utm_source=tldrcrypto
[9] https://hedera.com/?utm_source=tldr&utm_medium=newsleter&utm_campaign=stablecoin-studio&utm_content=20231115
[10] https://twitter.com/blackbeardXBT/status/1724063348126269848?utm_source=tldrcrypto
[11] https://variant.fund/articles/progressive-ownership-model-application-tokens/?utm_source=tldrcrypto
[12] https://vitalik.eth.limo/general/2023/11/14/neoplasma.html?utm_source=tldrcrypto
[13] https://www.privy.io/blog/consumer-crypto?utm_source=tldrcrypto
[14] https://theknower.substack.com/p/a-short-report-on-bittensor-and-ai?utm_source=tldrcrypto
[15] https://thedefiant.io/nft-trading-volume-hits-4-month-high?utm_source=tldrcrypto
[16] https://cointelegraph.com/news/delaware-authorities-refer-fake-blackrock-xrp-trust-filing-to-state-s-justice-department?utm_source=tldrcrypto
[17] https://alexablockchain.com/agrotoken-launching-on-polkadot/?utm_source=tldrcrypto
[18] https://twitter.com/plutus_nft
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