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- ☕️ Alpha-Packed: Wednesday 6 Sep ☕️
1. LayerZero launches NFT on Zora. 👀
2. Visa expanding stablecoin settlement with Solana partnership.
3. ZachXBT issues warning about Boost Coin.
4. Vitalik Buterin discusses the challenge of node centralization.
5. ....
Alpha-packed, coffee-ready information on the latest cryptocurrency developments.
Read time: ⏰ 8 minutes
🗞️👇
⚡ ALPHA⚡
• Taiko's Grímsvötn L2 (alpha-3) and Eldfell L3 (alpha-4) testnets coming to end along with its Glaxe tasks on September 19th. New alpha-5 testnet coming soon.
https://twitter.com/taikoxyz/status/1699406755959107996
• LayerZero launches LayerZero Zorb NFT on Zora until September 8th.
https://twitter.com/ourZORA/status/1699159937321239001
• C3 protocol testnet is live. C3 is a self-custodial exchange and previously raised $9.6 million in rounds led by Two Sigma Ventures and Arrington XRP Capital.
https://twitter.com/C3protocol/status/1698827870032847165
• DeBank releases new Web3 Badge for users who received the Connext $NEXT airdrop.
https://twitter.com/DeBankDeFi/status/1699396013579194676
🪂 AIRDROPS 🪂
• Connext $NEXT airdrop is live. Check eligibility, claim, and delegate to me if you would like me to vote on governance proposals on your behalf.
https://twitter.com/OlimpioCrypto/status/1698820130917261478
📰 TRADFI NEWS 📰
• X receives money transmitter license for payment services in Mississippi. X now has 8 regulatory licenses in the payments industry across the U.S.
https://twitter.com/WatcherGuru/status/1699141986559672721
• Grayscale legal team delivers a letter to the SEC urging them to approve its Bitcoin ETF.
https://twitter.com/Grayscale/status/1699167211599135207
• Visa expands stablecoin settlement pilot with Worldpay Global and Nuvei utilizing Solana.
https://twitter.com/cuysheffield/status/1699031109080945049
• South Korean Hana Bank partners with BitGo to provide digital asset custody services starting in the second half of 2024.
https://twitter.com/Cointelegraph/status/1698983826280890804
• Genesis subsidiary and U.S.-focused trading business, Genesis Global Trading; sunsetting its cryptocurrency spot trading platform on September 18th citing business reasons.
https://twitter.com/CoinDesk/status/1699097366316429413
• Coinbase launching new cryptocurrency lending service for institutional investors in the United States seeking to fill lending void left by Genesis Global and BlockFi.
https://twitter.com/CoinDesk/status/1699159367470264391
• Coinbase suspending trading for BarnBridge ($BOND), DerivaDAO ($DDX), Jupiter ($JUP), Multichain ($MULTI), Ooki ($OOKI), and Voyager ($VGX), after review.
https://twitter.com/CoinbaseAssets/status/1694382391043702828
• Binance removing several spot trading pairs on September 8th due to poor liquidity and/or trading volume.
https://twitter.com/WuBlockchain/status/1699299600262431010
📰 DEFI NEWS 📰
• Vitalik Buterin states one of the major challenges Ethereum faces is node centralization. Buterin emphasizes that reducing and simplifying the cost of node operation is the key, but it could take up to 20 years to completely solve the problem.
https://twitter.com/Cointelegraph/status/1698939783630987653
• StarkNet v0.12.2 launched to Mainnet and includes some key upgrades to enhance the performance and reliability of the network.
https://twitter.com/Starknet/status/1699040532066906540
• Polygon zkEVM Mainnet update introduces the new versions of both the Node and Prover components.
https://twitter.com/0xPolygon/status/1699011982001889330
• Base block production delayed for ~45 minutes due to internal infrastructure refresh. The issue was remediated with no funds at risk.
https://twitter.com/BuildOnBase/status/1699192035553812658
• MetaMask announces "Sell" feature which allows users to cash out cryptocurrency for fiat currency. Currently only available in the U.S., U.K., and parts of Europe.
https://twitter.com/MetaMask/status/1699062685550485743
• Circle introduces native $USDC on Optimism and Base. Native $USDC is issued by Circle and compatible with Circle APIs.
https://twitter.com/circle/status/1699045142429319321
• LayerZero is live on Zora Network. Applications built on LayerZero can extend their app to Zora Network and Zora Network developers can easily integrate with the rest of the LayerZero Network.
https://twitter.com/LayerZero_Labs/status/1699084139264393586
• Farcaster account recovery now available for those who lost their Farcaster recovery phrase. The onchain recovery starts next week.
https://twitter.com/dwr/status/1699094319091888184
🛡️ SECURITY 🛡️
• South Korean Government plans to introduce bill aimed at tracking and freezing cryptocurrencies used by North Korea for its illegal weapons program. North Korean hackers have reportedly stolen $3+ billion in cryptocurrency over the past 5 years.
https://twitter.com/WuBlockchain/status/1698884519913517099
• Stake hacked for $41 million. Stake co-founder, Edward Craven; confirmed private keys were not compromised, but rather the attack targeted a service the company uses to authorize transactions.
https://twitter.com/DLNewsInfo/status/1699061065953550809
• ZachXBT issues warning about Boost Coin as the founder has previously rugged many times before.
https://twitter.com/zachxbt/status/1699231235426390188
• Nima Capital sells Synapse $SYN tokens and removes liquidity 6 months early. A passed governance proposal proposal in March 2023 outlined that Nima Capital provide $40M of bridge liquidity for 12 months. Additionally, the Nima Capital website is offline.
https://twitter.com/SynapseProtocol/status/1699261435639902284
• Connext $NEXT airdrop disrupted by sybil bot attack. Claim UI was temporarily unavailable as the bot spammed numerous requests to Tokensoft's backend which then took down their API.
https://twitter.com/arjunbhuptani/status/1699058710931464284
• Floor DAO exploited for 40 $ETH due to a design flaw in the "distribute" and "rebase" functions.
https://twitter.com/SlowMist_Team/status/1698988105670512843
• WalletGuard, a cryptocurrency security browser extension; has been updated with improved risk factors and gas estimations.
https://twitter.com/wallet_guard/status/1698802365950767201
💰 FUNDING 💰
• Story Protocol, an open-source solution for creating, managing, and licensing new intellectual property on-chain; completes $25 million Series A round led by a16z crypto.
https://twitter.com/decryptmedia/status/1699271612837544248
• GenTwo, a fintech platform that specializes in securitization; completes $15 million Series A round led Point72 Ventures.
https://twitter.com/GenTwoAG/status/1699052535821348914
• TRLab, a Web3 arts startup; completes $5 million Seed round led by Hivemind Capital Partners and OKX Ventures.
https://twitter.com/TheBlock__/status/1699392278463173098
•D3, a next-generation domain names company; completes $5 million Seed round with participation from Shima Capital, Lightshift, Dispersion Capital, and more.
https://twitter.com/D3inc/status/1699137122051981367
https://twitter.com/taikoxyz/status/1699406755959107996
- On-chain shoutout
- Hello all! Pumped to be here. Let's harness our collective energy for Digital Fashion Residency!
- I just voted "Yes" on "Make Velodrome the STG Hub on Optimism" https://snapshot.org/#/stgdao.eth/proposal/0xf980d6deed62c3d77dd055963724b9d07ea0f383a2142703e5581c8e751b06ad #snapshotlabs
- Nexon Finance mainnet is live on #zkSync Era 🔥
Checkout: https://app.nexon.finance
- chill out
✅Follow me on Lens (100% i will rebackFL U
✅Like this post
✅Collect this post( if U like)
✅Mirror this post
✅Get 0.1 WMATIC
https://www.youtube.com/watch?v=GioUDeXzIPQ&list=WL&index=30&t=19s
- chill out
✅Follow me on Lens (100% i will rebackFL U
✅Like this post
✅Collect this post( if U like)
✅Mirror this post
✅Get 0.1 WMATIC
https://www.youtube.com/watch?v=GioUDeXzIPQ&list=WL&index=30&t=19s
- Yoyoyo
- $ARB PRICE SCENARIOS 🦅🔵
Investor price* → Market Cap 85M - ARB $0.07
Pessimistic → Market Cap 360M - ARB $0.30
Moderate → Market Cap 780M - ARB $0.65
Optimistic → Market Cap 1.4B - ARB null.20
Ecstatic 🎉 → Market Cap 3.0B - ARB $2.50
@Arbitrum Thread 🧵 - Let's estimate 🧠
$ARB is launching in 6 days
Snapshot Date: Feb 6th 2023
Many active DeFi got this airdrop (12% of the total supply)
How much could $ARB be worth a few days after launch?
1/18
Arbitrum One is the biggest Ethereum Layer2 blockchain in the space, by TVL and market share
• Market share: 55%
• TVL: $3.7B
2/18
Today we will roughly try to estimate $ARB price valuation a few days after launch - after the dust settles. By using:
• Total & initial circulating supply
• Market Benchmarks
• Percentage airdropped
3/18
TOKENOMICS
• Team & Advisors: 26.94%
• Investors: 17.53%
• Treasury: 42.78%
• Airdrop to users: 11.62%
• Airdrop to Arbitrum DAOs: 1.13%
4/18
TOKEN SUPPLY
• Total supply: 10B tokens (10,000,000,000)
• Circulating supply on 1st day: roughly 1.2B (1,200,000,000)
~12% of total supply
User airdrop is immediately unlocked. It's safe to assume that Airdrop to Arbitrum DAOs will not enter the market right away
5/18
AIRDROP CRITERIA
• Conducting transactions during 2-9 distinct months
• Transaction frequency & interaction (4-100)
• Arbitrum Nova activity: 3-10 transactions
• Bridging to Arbitrum & Arbitrum Nova
• Transaction value: $10k-$250k
• Providing liquidity: $10k-$250k
6/18
🔗 Check your eligibility here: arbitrum.foundation
🚨 Careful with scam links, always get your link from @Arbitrum twitter
Now, let's try to make scenarios for $ARB's price 👇
7/18
FDV AND MARKET CAP MEANING
• Fully Diluted Valuation (FDV) = total supply * token price
• Market cap = circulating supply * token price
With $ARB numbers:
FDV = 10B * token price
Market cap = 1.2B * token price
Token price = ❓
8/18
SPECULATING INVESTOR'S PRICE
According to Crunchbase, Offchain Labs raised 120M.
Investors are getting ~17% of the token supply, which is around 1.7B tokens.
If they bought 1.7B tokens for $120M, then that's around $0.07 per ARB. Pure speculation 👀
9/18
The best benchmarks for $ARB are Optimism and Polygon, but we can also work with other chains. Let's compare:
• Polygon $MATIC
• Optimism $OP
• Fantom $FTM
• Solana $SOL
10/18
Optimism $OP - the 2nd biggest Ethereum L2
• TVL: $950 million (DefiLlama)
• FDV: $10.8 billion
• Market cap: $800 million
If $ARB had this FDV, its price would be ~null.08
11/18
Polygon $MATIC
• TVL: null.05 billion
• FDV: $11.8 billion
• Market cap: $10.7 billion
If $ARB had this FDV, its price would be ~null.18
12/18
Fantom $FTM
• TVL: $445 million
• FDV: null.4 billion
• Market cap: null.2 billion
If $ARB had this FDV, its price would be ~$0.14
13/18
Solana $SOL
• TVL: $245 million
• Market cap: $7.7 billion
• FDV: $10.9 billion
If $ARB had this FDV, its price would be ~null.09
14/18
Summarizing:
• $ARB with the FDV of $OP: null.08
• $ARB with the FDV of $MATIC: null.18
• $ARB with the FDV of $FTM: $0.14
• $ARB with the FDV of $SOL: null.09
15/18
If the market prices ARB at the same level as OP and MATIC (~10B FDV) then token price could be ~null.00
In contrast, for ARB price to be $3.00, its FDV needs to be 3 times the size of OP's.
Yes, Arbitrum has two times Optimism's TVL, but I don't know if that is enough.
16/18
PRICE SCENARIOS
Pessimistic → Market Cap 360M - ARB $0.30
Moderate → Market Cap 780M - ARB $0.65
Optimistic → Market Cap 1.4B - ARB null.20
Ecstatic 🎉 → Market Cap 3.0B - ARB $2.50
17/18
The first hours of trading will probably be a mess, so expect volatility.
These numbers are just a price iteration and comparison to what's already out there. I don't expect them to make sense the first day of trading.
18/18
LIQUIDITY
Remember Optimism partnered with Wintermute for liquidity on $OP launch; we should wait to see how Arbitrum does it. I think they will surely take care of initial liquidity.
At which price would you sell $ARB?
⚡️ Join me on Telegram for lightning-fast alpha notifications: https://t.me/OlimpioAlpha
👥 Also, lots of DeFi and Airdrop talk is going on inside Earndrop's server, join here: https://earndrop.io/discord
- zkEVM Testnet Guide 🦊
ConsenSys has been whitelisting more users to its testnet.
Here's a step-by-step thread on how to bridge from Goerli to zkEVM, using Hop.
Will zkEVM have a token? 🧵👇
1/10
✅ About zkEVM
• ConsenSys is a private blockchain software technology company, which owns MetaMask, Infura, zkEVM, and several other products
• One of the things they are working on: their own zkEVM rollup, Ethereum scalability using ZK Proofs.
2/10
Recently, Infura endpoints to access ConsenSys zkEVM became available to a closed group of early registrants
To become one of the testers, you should sign up for the waitlist.
(If you signed & didn't get an email, don't forget they are sending beta invitations in batches)
3/10
For those who are whitelisted: how to test the product?
STEP 1: Go to faucetlink.to/goerli & request Goerli ETH
STEP 2: Login into your Infura account app.infura.io/login
STEP 3: Create a new key and select network Web3 API.
4/10
STEP 4: Select the ConsenSys zkEVM Testnet endpoint (screenshot below)
5/10
STEP 5: Go to goerli.zkevm.consensys.net
STEP 6: Add zkEVM Testnet RPC to your MetaMask
STEP 7: Bridge from Goerli to zkEVM using Hop Protocol: goerli.hop.exchange
STEP 8: Test the zkEVM - play around app.dexchange.live
(bridge, swap, provide LP)
6/10
Is there any $INFURA information?
• On the 1st screenshot, the Team said they are "discussing ways to reward those who help test". This does not necessarily means $INFURA, but it means rewards
• On the 2nd screenshot, the Team said that no token will be launched
7/10
Why should we care?
• ConsenSys is a company that owns MetaMask
• Joseph Lubin already confirmed that MetaMask will have a token (check the thread below)
• Infura is actively thinking about rewarding its token holders for the contribution
https://twitter.com/OlimpioCrypto/status/1590425920506318849
8/10
💡 Note:
Getting involved with the community is always a good way to get to know the team and what they are building.
9/10
💡 Activities that you can engage with:
1. Taking an Infura survey that will give you an NFT: https://research.rallyuxr.com/consensys/lp/cle4f709z00vz2zby305x37b2?studyId=cle4f709x00vx2zbyfqpmc7ga
2. Monitor ConsenSys Events. There was a community call 8 days ago: https://www.crowdcast.io/consensys
10/10
💡 Didn't receive their email yet?
The registration for zkEVM private testnet is closed at the moment.
If you missed the registration period, don't worry! The next phase will be a permissionless testnet. We will have more communications on this to come, stay tuned.
⚡️