October 27, 2022       /       Unchained Daily       /       Laura Shin

What’s Poppin’?

LooksRare Moves to Optional Royalties, But Will Still Pay Creators

by Juan Aranovich

LooksRare, an NFT marketplace built on the Ethereum blockchain, is moving to optional royalties, but came up with an innovative way to align incentives with creators.

THORChain Halts Network Due to Consensus Issue

by Samyuktha Sriram
THORChain developers are deploying a fix for a consensus issue that caused a blockchain halt on Thursday.

Google Launches Blockchain Node Engine for Ethereum

by Samyuktha Sriram
Ethereum will be the first blockchain supported by Google’s new Blockchain Node Service to help developers build and deploy apps.

​​Team Finance Loses $15.8M in Protocol Exploit

by Samyuktha Sriram
Team Finance paused all activity after an attacker exploited over $15 million from its liquidity migration function.

Is the World’s Largest Bitcoin Miner Nearly Bankrupt?

by Samyuktha Sriram
Bitcoin miner Core Scientific says its liquidity has been severely impacted by Bitcoin’s price, rising hash rate and litigation with Celsius.

$500M Bitcoin Was Transferred for $0.82 in Fees

by Samyuktha Sriram
An anonymous wallet transferred $500 million Bitcoin for as little as $0.82 in transaction fees on Thursday.

In Other News… ✍️✍️✍️

  • Crypto exchange FTX is eyeing the launch its own stablecoin.
  • According to The Block, the early-stage token fund of investment firm Pantera Capital is down 71% since the beginning of the year.
  • Domain Money, a crypto startup founded by former Goldman Sachs partner Adam Dell, is struggling to gain adoption.
  • Multi-chain wallet project UvToken was hacked for $1.45 million.
  • Crypto exchange Huobi delisted its own stablecoin HUSD.

Today in Crypto Adoption…

  • Hong Kong plans to allow retail investors to trade crypto on licensed exchanges.
  • The central bank of Kazakhstan agreed to trial BNB Chain for its digital currency.
  • Lawmakers in Costa Rica proposed to reduce taxes on Bitcoin to become a crypto-friendly country.

The $$$ Corner

  • Zoop, a digital collectibles trading platform, garnered $15 million in grants and investments.
  • Decentralized Engineering Corporation (DEC) raised $9 million to build the ‘Uber of Web3’.
  • Fun, a blockchain software developer, announced a $3.9 million raise to build on the Odsy network.
  • Bain Capital Crypto led a $3.3 million raise for Notebook Labs, a privacy-focused identity protocol.
  • Aptos wallet Martian closed a $3 million pre-seed round led by Race Capital.

What Do You Meme?

Recommended Reads

  1. AriGoldNFT.eth on how Ethereum is being used to cure cancer
  2. Kerman Kohli on on-chain identity
  3. CoinDesk’s George Kaloudis on censorship resistance

On The Pod…

Avraham Eisenberg, blogger at DeepFi Value – more commonly known as the Mango Markets attacker – shared his insights about the exploitation of code, his personal story, and why there’s hatred directed towards profitable traders. Show highlights:

  • Laura’s description of the Mango Markets exploit
  • the way in which code gets used in a different way from the original intention
  • why Avi decided to return part of the funds he got from exploiting Mango Markets
  • Avi’s clarification of a misconception regarding the bad debt of Mango Markets
  • the difference between arbitrage trades and exploits
  • why people making profitable strategies are hated, according to Avi
  • how Avi got into crypto and the story of his failed online business
  • whether it is possible to run non-zero-sum games
  • what he thinks of Compound’s decision to pause activity on illiquid assets

Book Update

My book, The Cryptopians: Idealism, Greed, Lies, and the Making of the First Big Cryptocurrency Craze, which is all about Ethereum and the 2017 ICO mania, is now available!

You can purchase it here: https://amzn.to/3CvfrbE