June 24, 2022       /       Unchained Daily       /       Laura Shin

Daily Bits✍️✍️✍️

  • Bitcoin’s mining difficulty fell 2.35%, the second-biggest drop so far this year.
  • Moody’s downgraded its rating for Coinbase’s senior unsecured notes.
  • Harmony protocol identified a $100 million theft on the Horizon bridge.
  • Voyager Digital limited daily withdrawals from its platform to $10,000.
  • CoinFLEX halted withdrawals due to market conditions and counterparty uncertainty.
  • MATIC token soared after Polygon introduced a feature to improve privacy for DAOs.
  • Do Kwon is confident that Luna will come back stronger than before.
  • Avalanche bridge launches native Bitcoin support.

Today in Crypto Adoption…

  • Cristiano Ronaldo will launch an NFT collection in collaboration with Binance.
  • Fashion brand Gucci is joining SuperRare DAO.

The $$$ Corner…

  • Bitcoin miner firm Crusoe acquired an electrical manufacturer to integrate into their company.

What Do You Meme?

What’s Poppin’?

Solana Builds a Web3 Phone

By Juan Aranovich

At an event in New York City on Thursday, Anatoly Yakovenko, co-founder of Solana, introduced a new Android phone integrated with the Solana blockchain and customized for Web3 applicability.

The new smartphone called Saga has a 6.6-inch display, 12 GB RAM, and 512 GB of storage. The phone is set to release in early 2023 and will have private key security measures built into the device. It is expected that the cost will be around $1,000 and that early buyers will receive a limited-edition NFT. Saga is already open for pre-orders.

The team also announced the development of Solana Mobile Stack, an open source software toolkit for Android enabling native Android web3 apps on Solana with the Seed Vault secure custody protocol that facilitates instant signing of transactions while keeping private keys partitioned from wallets, apps and the Android operating system.

“The Solana Mobile Stack shows a new path forward on Solana that is open source, secure, optimized for web3, and easy to use,” said Anatoly.

Some features of the Solana Mobile Stack Software Development Kit include:

  • Mobile Wallet Adapter
  • Seed Vault
  • Solana Pay for Android
  • Solana dApp store

“Developers can now bring the power of Solana to the computers in our pockets, not just our backpacks,” added Raj Gokal, cofounder of Solana.

Having a smartphone built specifically for Web3 will enable many possibilities, including minting an NFT from anywhere, enhancing Web3 gaming experience, and paying for goods and services with the phone.

Lastly, the Solana Foundation announced $10 million in grants for developers to build on Solana Mobile Stack, with the intention of accelerating the development of native mobile dApps.

Recommended Reads

1) Kyle Waters, Parker Merritt, and Nate Maddrey on Miner’s blockchain activity:

2) The Hitchhiker’s Guide to DeFi by The Crypto Illuminati:

3) Businessweek cover story on CZ:

On The Pod…

Derek Hsue, cofounder at Reverie, discusses the recent controversial decisions by Solend DAO and Bancor, the importance of establishing processes for black swan events, and whether decentralized governance truly exists. Show highlights:

  • what situation prompted Solend to feel it was in jeopardy
  • what Solend DAO’s response was to that situation
  • why Derek views it as “the nuclear option”
  • why the proposal sparked an outcry from the crypto community
  • whether this issue could have been prevented or managed differently if the protocol was built on a blockchain other than Solana
  • why, a day later, the DAO reversed its first decision to take over the whale’s account
  • whether Derek thinks the DAO made the right decision to not take over the whale’s account
  • what is Impermanent Loss Protection, a feature offered by Bancor
  • why Bancor decided to pause Impermanent Loss Protection
  • whether Celsius and 3AC had anything to do with Bancor’s problem
  • how Bancor’s decision was made unilaterally
  • how DAOs should deal with black swan events

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: http://bit.ly/cryptopians