Weekly Editors' Picks (0910-0916)

"Weekly Editor's Picks" is a "functional" column of Odaily.On the basis of covering a large amount of real-time information every week, a lot of high-quality in-depth analysis content will also be released, but they may be hidden in the information flow and hot news, and pass you by.

Now, come and read with us:

Now, come and read with us:

Investment and Entrepreneurship

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Investment and Entrepreneurship

Chainalysis 2022 Cryptocurrency Adoption Report: Emerging Markets Dominate Global Cryptocurrency Adoption Index

To gauge where most people are putting the lion's share of their money into cryptocurrencies, Chainalysis has introduced the Grassroots Cryptocurrency Adoption Index. It consists of five sub-indices, each based on the use of different types of cryptocurrency services by country. The sub-indices are the on-chain cryptocurrency value received by centralized exchanges, weighted by per capita purchasing power parity (PPP); the on-chain retail value received by centralized exchanges, weighted by per capita purchasing power parity; peer-to-peer (P2P) transaction volume , weighted by per capita purchasing power parity and the number of Internet users; the value of on-chain cryptocurrencies received from DeFi protocols, weighted by per capita purchasing power parity; on-chain retail value obtained from DeFi protocols, weighted by per capita purchasing power parity.

The top five in the index are Vietnam, the Philippines, Ukraine, India, and the United States; China ranks tenth. Other conclusions include: Overall global adoption slows in bear market, but remains above pre-bull market levels; Emerging markets dominate global cryptocurrency adoption.

Honey or Poison, What Does VC Mean for Web3?

DeFi

The writing is loose. Take some gist: VC is not perfect. But Web3 is improving the model. With its ability to help artists and companies grow and grow, Web3 qualifies everyone to be a venture capitalist of some sort. However, by collecting tokens, retail investors will not obtain equity in the project, and at the same time, the project party does not owe liquidity to retail investors.

Dissonance is created when projects that rally users around speculative promises to maintain high valuations suddenly break previous incentives by raising large amounts of venture capital. There are a few VC firms that have raised huge amounts of money, so they're taking the all-over approach to investing. Venture capital simply has no place in Web3, or its incentives are generally incompatible with Web3, leaving no room for innovators who need institutional capital to truly achieve mainstream success.

Uniswap V3 LP also faces some problems: the impermanent loss caused by the price fluctuation caused by the transaction, and the liquidity range needs to be adjusted frequently; in order to make the management of LP more flexible and active, and improve the level of passive income of LP, the LP automatic management protocol layer thus produce.

NFT, GameFi and Metaverse

The main functions of the LP automated management agreement include: automatic adjustment of the liquidity range, rebalance, and fee reinvestment. The article then introduces Arrakis, Gamma, Charm.fi, Kamino Finance (Solana) in detail, and compares their advantages.

NFT, GameFi and Metaverse

How to choose high-quality projects? One article compares various NFT fund indexes

From historical data, index funds have always been used as a tool for hedging market risks, and are considered to be one of the best financial tools, which can obtain stable and continuous returns, and these returns usually increase year by year. Applying the basic principles in the traditional financial market to the NFT field and creating NFT index funds is the only way to meet the needs of investors. Judging the value of an index fund depends on the team's work goals and results, the importance of the index community, the works selected by the index fund, and the methodology followed when selecting NFT for the index fund token. The two major types of index funds on the market are index funds on NFT DeFi platforms (such as NFTX) and fragmented index funds (such as JPG NFT Index).

Avatar NFTs are different from DeFi projects in that they have no inherent fundamental value. But avatar NFT is of great help to community building and can push the community beyond pure price speculation. It can create a "vibe" that makes community members feel like part of a privileged club, or simply like an NFT image. The limited edition NFT can build an exclusive club within the project community, distinguishing the real OG from everyone else. It also presents a great opportunity to distribute perks to loyal community followers.

Web 3.0

A handful of DeFi projects have begun experimenting with NFTs. Such projects are dYdXHedgie, GMX Blueberry Club, Dopex Diamond Pepes, Dopex NFT, Pancakeswap Bunny NFTs, Platypus Finance Heroes, Gains Network NFT, Alpies NFT from Alpaca Finance, Badger DAO NFT, Aavegotchi from Aave.

Paradigm: In-depth analysis of the impact of sanctions and censorship on blockchain infrastructure

Ethereum and scaling

OFAC's identification of blockchain addresses to the SDN list should not require any base-layer participant to review transactions involving sanctioned addresses. OFAC regulations require the implementation of a risk-based compliance program tailored to the specific activities of the relevant base layer participants. Given that the role of the Crypto base layer is essentially to publicly record the order of blocks of data, participants should not be required to screen blocks containing sanctioned addresses.

Ethereum and scaling

Bankless: 5 Reasons to Be All-in on Ethereum

None of the mainstream blockchain protocols are currently economically viable in the long run, i.e. revenues exceed the blockchain’s operating costs. The real power of cryptocurrency technology is decentralization. If you want a network to be decentralized, you can't just flip the "blockchain switch". For it to work, a powerful social force is needed — legitimacy. In a blockchain ecosystem, legitimacy grows and is maintained within the community, which maintains legitimacy and assigns responsibility. A blockchain cannot be decentralized if ordinary community members cannot run nodes. The Ethereum merger is a historic upgrade that will likely make Ethereum the first economically viable long-term blockchain.

The five main reasons why the author is bullish on ETH include its solution to the scalability problem, network effects, "the most important scarce resource is legality", Moloch friendliness, and the world computer going green. As a result, ETH offers one of the best risk/reward ratios out there.

Nansen Ethereum Merger Report: Censorship Risk of PoS and Its Impact on Staking

At present, the proportion of pledged ETH accounts for a relatively small proportion of the overall ETH (about 11.3%), of which 65% are liquid pledges and 35% are illiquid pledges. About 64% of the pledged ETH tokens came from 5 entities, Lido accounted for 31%, and Coinbase, Kraken, and Binance combined about 30%.

Liquid staking services like Lido were created to avoid the possibility of entities like centralized exchanges CEX getting most of the staked ETH. For liquid staking providers like Lido, it is very important that they become decentralized to resist censorship. LDO ownership is relatively concentrated, and the largest token holders are identifiable funds and team members, who are at risk of being censored. For an entity with a potentially majority share of staked ETH, the stakes for proper decentralization are very high. The community is aware of the risks this poses and is actively seeking solutions. Initiatives include dual governance (to better coordinate LDO and stETH holders), and physically decentralized validators for regulatory compliance.

About 71% of the pledged ETH is currently in a state of floating loss. 18% of all pledged ETH illiquid pledgers are in floating profit. These people can enable free exchange after the Shanghai upgrade of Ethereum, and are most likely to sell for profit. ETH whales have been accumulating ETH this year.

Talking about why Ethereum is most likely to become the base layer of CBDC

Numerous government white papers have been released that consistently outline CBDC aspirations: expiry dates for cash, negative interest rates for savings, programmability of where, when, who and why money is spent, transaction-level reporting, tracking and taxation, quotas , limits and limits, the ability for central authorities to add or remove funds remotely.

At the supranational and NGO level, everyone from the World Bank to the IMF to the World Economic Forum is somewhat hostile to Bitcoin and more friendly to Ethereum. Ethereum is well suited for global CBDC use cases: different ERC-20 tokens can be used for multiple purposes - stablecoins, UBI (universal basic income distribution), food stamps, carbon quotas, social credits, ERC-721 style The NFT is also suitable for digital ID.

The United States and AWS: The serious "centralization" problem after the merger of Ethereum

Also recommend "The article first reviews the key indicators related to equity: deposit balance, validator distribution, node distribution, and client distribution, and finds that there are centralization risks at these levels. Fortunately, the robustness of Ethereum decentralization is a work in progress. Aside from the aforementioned metrics, the final layer of defense for the Ethereum network is its community. In the event of an attack on the chain, and the above metrics are insufficient to guard against it, the community can support social slashing to fork Ethereum, removing the attacker's stake.The Last Miner: 4D Review of Ethereum’s 8-Year Mining History

DAO

", a brief history of Ethereum in the PoW era.

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Community health can be defined as the regenerative, "state of existence, interaction, and integration of individual and nested subsystems of a DAO community as they strive to achieve individual and collective goals." Key signals for assessing health: participation, structure and sense of community.

hot spots of the week

secondary titlehot spots of the weekIn the past week, Ethereum has merged and officially entered the PoS era. Odaily has summarized the opinions, comments, influences and responses, market trends, data observations and other information from all parties in the"Ethereum upgrade and merger journey" special topicin, and in theThe latest information after the Ethereum merger，"Continuously updated in the article; in addition,，Coinbase Funded Tornado Cash Users Sue US Treasury Department；

Twitter shareholders vote to approve Musk's $44 billion takeover offerSouth Korean court issues arrest warrant for Do Kwon，In terms of policy and macro market, the chairman of the US SEC said；

PoS cryptocurrencies may be deemed securities subject to federal securities regulationsJapan's SBI's Crypto Unit Receives Capital Markets License in SingaporeIn terms of opinions and voices, Coby Morgan, chief researcher of Merkle Science, saidEthereum may be more vulnerable to government scrutiny after it completes merger, ENS core developer Jeff Lau issued a rebuttal, the automatic conversion of Binance stablecoins may make；

Institutions, large companies and top projects,BUSD supply increased by $908 million，Institutions, large companies and top projects,，CME Group Launches Ethereum OptionsFidelity Plans to Offer Bitcoin Trading to Retail InvestorsMicroStrategy plans to sell $500 million in stock，Tether, or to fund the purchase of more bitcoins,，FTX Ventures Acquires 30% Stake in SkyBridge Capital；

Compound Treasury Launches Institutional Lending ServiceNFT rarity open standard OpenRarityNFT and GameFi field, OpenSea will launch next week“Proof of Merge”NFT rarity open standard OpenRarity, a16z partner launched a free, non-resaleable dynamic NFT, used to prove whether the Ethereum network has successfully completed the merger,StarbucksLaunched the NFT customer loyalty program Starbucks Odyssey,With "Editor's Picks of the Week" series...well, another week of ups and downs.

With "Editor's Picks of the Week" seriesPortal。

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