Crypto Twitter Ethereum Drama - The WAGMI Journal #26

Can we all just agree that the future is going to be cross-chain?

In today’s issue:

The crypto market is flat with the global crypto market cap sitting slightly above $2.7 trillion. Crypto Twitter had some juicy drama about layer 1 and Ethereum scaling over the weekend, but has since cooled off as we enter a new week. In other news, El Salvador plans to issue tokenized Bitcoin bonds, Binance integrates Arbitrum layer 2 networks, and Square published its Bitcoin DEX whitepaper.


Starting today, our daily issue will be sent out before 9 am EST.

We’re continually improving our content — based on our readers’ suggestions, we are working to add:

  • a section showing open interest and other trading-related metrics 24-h changes

  • a section showing newly released projects

Please reach out if you have any other ideas or would like us to recap a segment of the market.

- Curated by Marco Manoppo (@manoppomarco)

📰Market News

⎆El Salvador Plans Tokenized Bitcoin Bonds

Partnering with Bitfinex and Blockstream, El Salvador has decided to issue so-called Bitcoin bonds up to $1 billion. The capital will be used to support volcano-powered Bitcoin mining and create a tax-free ‘Bitcoin City’. If these plans go through, it will be the first of its kind and will further cement Bitcoin’s place as a legitimate asset in the global financial market.

⎆Binance Integrates ETH Layer 2 Network Arbitrum

The world’s largest crypto exchange, Binance, has completed its integration of Arbitrum One, an Ethereum Layer 2 scaling solution developed by Offchain Labs. Prior to the integration, users had to move funds through an Arbitrum specific bridge before they can deposit funds to Binance or other centralized platforms. With this integration, users will have more direct access to their funds, and as layer 2 scaling solutions gets adopted by more centralized counterparties,

⎆Square White Paper for Decentralized Bitcoin Exchange

After being active in the crypto space for a few years, Square decided to double down on its initiatives by launching a decentralized exchange for Bitcoin. The team that led the DEX development is called TBD and it just released a white paper over the weekend describing tbDEX as “protocol for discovering liquidity and exchanging assets (such as bitcoin, fiat money, or real-world goods)” without requiring any sort of KYC. One important thing to note is that tbDEX is not actually built atop the Bitcoin blockchain.

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👨🏻‍💻Decentralized Finance (DeFi)

  • Supply of Terra Stablecoin UST Doubles to $6.49B After Governance Move

  • Half of Uniswap v3 Liquidity Providers are Losing Money: New research

  • White Paper Introducing Jack Dorsey's Decentralized Bitcoin Exchange

  • Binance Completes Arbitrum Integration and Opens Layer 2 ETH Deposits

  • Crypto.com Is Scaling Ethereum with zkSync

🏛Governance - Active Proposals

  • Gitcoin - FDD Workstream Q4 2021 Budget

  • Babylon Finance - BIP-4: Uniswap V3 Pool + Harvest Vault

  • Idle - IIP-17: Upgrade IdleTokenGovernance implementation to remove flash loans

🦮NFT & Metaverse

  • Celebs Are Aping Into NFTs—But Star Power Won’t Ensure Success, Says Artist Pplpleasr

  • RPG Adventure Game Illuvium Boosted by $2M Gaming Guild Fundraise

  • Just Buy It: Nike Wants to Bring Sneakerheads Into The Metaverse

  • Funding Platform Orica Partners With NGO to Use NFTs

  • DigitalArt4Climate Announce Competition Winners at COP26

  • South Korea’s Leading Blockchain Facing Greater Competition in NFT Market

  • FC Barcelona Cancels Marketing Agreement With NFT Marketplace Ownix

  • Macy’s Thanksgiving Day Parade Gets in on NFT Craze With Collectible Balloons

  • NFL Dabbles With NFT Ticket Collectibles on Polygon

  • Blockchain Backend Firm Alchemy Moves to Bring NFTs to a Wider Audience

  • Citadel Founder Kenneth Griffin Beat Crypto Group in US Constitution Copy

Top Sales (Last 24-h); Source: https://dappradar.com/nft

📈Deal Flow & Capital Raise

⚖️Regulatory Update

📚Noteworthy Reads

Feel free to reach out to manoppomarco@gmail.com — feedbacks and constructive criticisms are much appreciated.


DISCLAIMER:

All the information presented on The WAGMI Journal publication and its affiliation is strictly for educational purposes only. It should not be construed or taken as financial, legal, investment, and any other forms of advice. Writers, authors, and contributors of The WAGMI Journal may hold any assets mentioned in the issue.