May 31, 2022 / Unchained Daily / Laura Shin

Daily Bits✍️✍️✍️

Terra suffered a $90 million exploit months ago and nobody noticed.
South Korean authorities are looking into the Terra collapse.
India is very close to releasing a consultation paper on crypto.

Today in Crypto Adoption…

MoneyGram is aiming to launch a feature to allow users to send money overseas with stablecoins.
Digital asset custody provider Copper said its Swiss unit received approval to join the country’s Financial Services Standard Association.
Luxury brand Prada is launching 100 Ethereum NFTs.

The $$$ Corner…

Crypto Payments firm Merge raised $9.5 million to support fintech infrastructure for crypto and Web3 companies.
Berlin-based startup Mondu announced a $43 million Series A round.

📈Your Market Update

✅ Green day for crypto!

BTC is up 7.75%: Trading at $31,726.39
ETH is up 10.19%: Trading at $1,996.44
BTC dominance: 45.7%
Crypto market: $1.31 trillion
Winner of the day (among the top 100): Waves → up 75%
Macro news to watch today: May Consumer Confidence Index

*Data as of 8 pm ET Monday 5/30/2022

What Do You Meme?

What’s Poppin’?

Shiba Inu Creator Ryoshi Deletes All His Social Media Posts

Ryoshi, the anonymous founder of memecoin Shiba Inu, decided to delete all his tweets and all the blog posts on his Medium page without any notice or comment.

“I am not important, and one day I will be gone without notice. Take the SHIBA and journey upwards frens,” Ryoshi had predicted in his previous blog All Hail the Shiba. It looks like the time has come for Ryoshi to disappear. Even though he did not mention that the inspiration for this move was to imitate Bitcoin creator Satoshi Nakamoto, it looks similar.

Shiba Inu lead developer Shytoshi Kusama decided to make a blog post in appreciation of the work done by Ryoshi. “Ryoshi was, and is, one of the most successful anonymous founders of any project, ever,” he said.

Kusama highlighted many of the project’s accomplishments and also pointed out that we are going through a tough macroeconomic environment, with a lot of chaos and confusion. On an endnote, he made a recap of the project’s vision: “Shib is Shib and we remain to grow far into the future following the path laid by our magnificent founder.”

The community of Shiba was very responsive to the news. “Looks like it’s up to #SHIBARMY to realize the dream of Ryoshi’s Vision,” said Lady Crypto, a ShibArmy Warrior.

The price of the SHIB token had a positive day yesterday, even though it is highly likely that it was due to the positive price action that occurred in the crypto markets in the past hours, with BTC rising almost 5%. SHIB has a current market cap of more than $6 billion, and is now trading at $0.00001176, 86% down from its all-time highs in October 2021.

On The Pod…

How Osmosis Is Trying to Improve the Crypto User Experience

Sunny Aggarwal, co-founder of Osmosis Labs, talks about how Osmosis is being built, the innovations that are coming, the reasons to use app chains, and much more. Show highlights:

how Sunny got into crypto
how the DAO hack turned him off Ethereum at first
how the scaling issues with Ethereum got him interested in the Cosmos vision of app-chains
why he is interested in Proof of Stake
what the vision of Cosmos is
how Sunny compares the evolution of blockchains with human evolution
why he thinks that Cosmos integrates the best of Bitcoin and Ethereum networks
why he thinks that having more than one Proof of Work chain is fundamentally insecure
which three technologies are necessary for Cosmos to succeed
what IBC and the Cosmos SDK do
why Sunny decided to build Osmosis
how automated market makers are massively underexplored
why UX is such a priority for the Osmosis team
why Sunny does not want to list the OSMO token on other exchanges
why Osmosis has a curated dex as well as a permissionless one
how Osmosis governance works
how security is provided on Osmosis
what superfluid staking is
how CosmWasm helps Osmosis compete with centralized exchanges
how Osmosis is solving frontrunning with threshold encryption
why the Osmosis team chose Axelar for bridging
whether Yuga Labs could have used an app chain

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

SHIB Creator Vanishes