What would happen if you inherited 55,000 bitcoins?

1) Humorous video: Congratulations on inheriting 55,000 bitcoins

This is a three-minute humorous short film that tells the most dreamed story of the currency players. If you get 55,000 bitcoins, which is 2.6 per thousand of the total bitcoins, what will happen next?

2) Paradigm: A week-long overview of mainstream stablecoin dynamics

This is a one-week review written by Paradigm Fund about the dynamics of mainstream stablecoins. Paradigm updates the blog very continuously, with a frequency of 2-3 articles per day. The content is mainly a dynamic summary of various high-quality projects. In this blog, Paradigm introduces the origin and recent developments of five mainstream stablecoins (less DAI) USDC, GUSD, USDT, PAX, and BUSD.

• USD Coin (USDC): jointly launched by Circle and Coinbase, based on the Ethereum blockchain

• Gemini Dollar (GUSD): issued by Gemini Trust, a regulated and audited New York trust company, based on the Ethereum blockchain

• Tether (USDT): Launched in 2014, it has been implemented on Omni protocol, Ethereum, EOS, TRON, Algorand and other blockchains

• Paxos Standard (PAX): Issued by Paxos Trust Company, based on the Ethereum blockchain

• Binance USD (BUSD): Approved by the New York State Department of Financial Services (NYDFS), issued in partnership with Paxos (1:1 USD guarantee), based on Ethereum and Binance Chain

Satoshi Mamoto’s comment: Except for Tether (USDT), the above stablecoins are regulated and audited. Analyzing stablecoins from the consensus level and technical level, it will be found that the above-mentioned stablecoins are almost all riveting the value of the US dollar at the consensus level. Ethereum, which has a relatively fast duration, a relatively high degree of decentralization, and a relatively low transaction fee rate, is the well-deserved king. Most stablecoins are circulated based on the Ethereum blockchain, although it is still unclear how stablecoins are traded. The relationship between the continuous growth of transactions on the chain and the value of the underlying blockchain.

At the same time, exchanges are continuously promoting their own stablecoins. USDC is launched by Coinbase, GUSD is launched by Gemini, Tether has a close relationship with Bitfinex, and BUSD and Binance share a pair of pants.

This may also lead to the fact that stablecoins cannot be listed on each other’s exchanges due to the competition between different exchanges. When Binance debuted Solana, it launched BUSD trading pairs instead of USDT trading pairs, which proved its ambition. At present, it is enough to decentralize It is possible that DAI, which does not stand in line, will be widely accepted, although the mortgage mechanism (over-collateralization of the native asset ETH of the underlying blockchain, and the above five stablecoins are all US dollar rivet-backed) may lead to a slightly smaller market size.

DeFi is currently one of the few use cases, and the new generation of public chains may try to add this use case to cannibalize Ethereum. JUST, the first LaunchBase project launched by Sun Ge after acquiring Poloniex, is a low-profile version of MakerDAO, with TRX as collateral Generate USDJ stablecoin. Many DeFi applications have also appeared on Polkadot, which uses on-chain governance, which also means that you can participate in DeFi while staking DOT to obtain Staking benefits.

The scale of the stablecoin market continues to grow, and the types emerge in an endless stream, which also means that new opportunities will be born.

3) Grayscale: The next Bitcoin halving

Within a year of the first and second halving times, the price of Bitcoin increased by approximately 81 and 3 times, respectively.

Here are some of the changes in the cryptoasset ecosystem since the last halving in 2016:

• Infrastructure development: Enormous growth of crypto asset on-ramps, and investors have more avenues than ever before to gain and express their views on Bitcoin, including regulated futures markets, options with long and short positions markets, and the products and services offered by traditional financial services. Companies, both traditional and emerging, are strengthening their positions with investors and actively working with regulators to build compliant, reputable Bitcoin onramps for the global community

• Participation: With increased onboarding to Bitcoin, and broader awareness of the crypto asset class, more and more people are entering the market, most of whom have not yet invested during the halving event

• Market shocks: Prices across all markets and asset classes have been tested by unpredictable shocks, including geopolitical uncertainty and changes in fiscal policy. Additionally, the global uncertainty surrounding the current COVID-19 crisis continues to be reflected in massive market volatility. As investors grapple with these rapid and pronounced swings, they will continue to seek portfolio diversification to insulate themselves from market shocks. Investors will increasingly focus on digital assets such as Bitcoin because it has historically been uncorrelated with other assets they may invest in

4) Our Network: DeFi Star Project Observation

This is Our Network's review and analysis of DeFi star projects, including 0x, Uniswap, Kyber, and dYdX.

0x data scientist Alex Kroeger identified and quantified four main use cases of DEX liquidity through data analysis, namely:

• Retail spot transactions, such as KyberSwap, Uniswap and Tokenlon, accounted for 26% in the past week;

• Margin trading, currently dominated by dYdX, and other DApps such as Nuo, accounted for 26% in the past week;

• DEX aggregation, using the liquidity of multiple DEXs in a single transaction to achieve better price discovery, such as 1inch.Exchange, DEX.AG, etc., accounting for 11%;

• Algorithmic trading, cross-DEX agreement arbitrage, liquidation lending agreement, cross-DEXs and centralized exchange arbitrage, etc., accounted for 29%.

Also, Blocklytics co-founder Caleb Sheridan summarized Uniswap's past trading volume and liquidity pool reserves, D5 co-founder Alex Svanevik analyzed the changes in stablecoin balances on centralized exchanges, Kyber ecosystem growth director Deniz Omer analyzed Kyber, etc.

5) Coinbase: Interpretation of the recent collapse of the lending and DeFi market and its subsequent impact

The unprecedented sharp drop occurred on March 12. Many people attributed it to the lack of funds and high leverage on the market, so who are borrowing? Speculators, miners? This is a blog written by Coinbase, which comprehensively reveals the reasons for the birth of the lending market and its uses, and what will happen after the market crashes?

The cryptoasset lending market has seen a strong boost, with loans totaling approximately $13 billion from traditional institutions and crypto-native products over the past few years.

The lending market enables participants to: 1) lend their crypto assets to others and charge interest; 2) borrow cryptocurrencies through collateral to pay the loan fee.

This market is provided either through a centralized institution or through a smart contract platform (designed to ensure that funds are not lost), and in this area, the company's main source of income is the net interest margin, which is the difference between the interest rate paid by borrowers and the amount received by lenders. the difference between the interest rates.

But lending comes with risks. Borrowers can default on their loans, especially if the underlying collateral experiences large fluctuations. In this article, we examine how the lending market performed during the recent crash of cryptoassets on March 12.