jerrywoo (@jerrywoo) • Hey
jerrywoo (@jerrywoo) • Hey
Publications
- I just voted "Jojo" on "Domain Allocator Election for the New Protocol Ideas Domain" https://snapshot.org/#/arbitrumfoundation.eth/proposal/0xfa78979a7afa0b0df5c885ebf3a0d46c3676152c6c95b482ed9e91c2ed2dcca5 #Snapshot
- I just voted "Jengajojo" on "Domain Allocator Election for the Education, Community Growth and Events Domain" https://snapshot.org/#/arbitrumfoundation.eth/proposal/0x84e841ad47a5ac7eae2c8ee87c05abc381f8e724598d939ae67060487268304f #Snapshot
- I just voted "yes" on "Lower TheAptosBridge Block Confirmations and Add Fees" https://snapshot.org/#/stgdao.eth/proposal/0x3ab405d7d396f0b3bf04b966dd12b06ad5e81d3cf583eda8b890f2d744a98693 #Snapshot
- I just voted "yes" on "Stargate Foundation 12-month Budget Proposal" https://snapshot.org/#/stgdao.eth/proposal/0x2eff53c9e9f0bf19a98345d1d32103ec0ec859d81978eecacb38db16be33b94b #Snapshot
- I just voted "For" on "Time Management in Arbitrum’s Governance" https://snapshot.org/#/arbitrumfoundation.eth/proposal/0x5c0cecde14ec0b83c954b47c2d79348ce249019b83894f3938fc80b45e1232da #Snapshot
- I just voted "For" on "Proposal: Security Council Elections Proposed Implementation Spec" https://snapshot.org/#/arbitrumfoundation.eth/proposal/0xfd3551e2a0effc5d900e522b79300f68c351ec930cb05b62f537842508feceff #Snapshot
- I just voted "zksync" on "Poll by @1_modifan.lens" https://snapshot.org/#/polls.lenster.xyz/proposal/0xddf0841fca2ef0093440e932f3c4efecf0a5dac35eed09e12e7b7b9c542fd499 #Snapshot
- 贤者时间
- I just voted "端午甜/咸粽子都行" on "端午吃什么？" https://snapshot.org/#/yequ.eth/proposal/0x24dfe6b20ffe8717b1f76b7690b2c8905266350f71531e476a820a1135cad9fb #Snapshot
- I just voted "Yes" on "Poll by @stani.lens" https://snapshot.org/#/polls.lenster.xyz/proposal/0xb48787ee4d877ede83434a2e4c5c194b4853cd2b6231c20e02d3b3ba9861b06a #snapshotlabs
- I just voted "Yes" on "Poll by @stani.lens" https://snapshot.org/#/polls.lenster.xyz/proposal/0xce612dc6f5060c0d06ab9cc2910eb13fbda337a6a459d885a939ed8c10406a48 #snapshotlabs
- 按照上一轮19年的走势，从最后一次加息到降息都是拉升状态，这一次是从第一次加息降速开始涨，正常也能涨到降息的时间点，只是时间上比19年长很多，所以拉升的速度也慢很多，中间会伴随很多小调整
- I just voted "No ❎" on "Poll by @yoginth.lens" https://snapshot.org/#/polls.lenster.xyz/proposal/0x04e4c4bceee9ed9e54b6012d566d139e7c334829ddf27307fd11fd29882f7950 #snapshotlabs
- upupup
- I just voted "Yes ser 🙌" on "Do you like the Snapshot integration with Lenster?" https://snapshot.org/#/yoginth.eth/proposal/0x9287c40edcd68c362c7c4139fe3489bbaaa27cf4de68be5c218a82d0f252e718 #snapshotlabs
- what's obvious is obvious wrong
- Massive news today: Shanghai Upgrade date confirmed 📆 ⚡️
• 16.5M ETH has been staked so far (~30B USD)
• 25% solo stakers. 30% LIDO. 12% Coinbase.
• Date: 12 April, 2023
🧵 Thread: How do ETH withdrawals work? Who are the stakers? Can all of this affect ETH price?
1/11
• What is the Shangai Upgrade? The road so far
As you know, with The Merge ETH migrated from POW to POS.
In POS, ETH is staked to secure the network. People have been staking ETH since December 2020.
2/11
• What is the Shangai Upgrade? The road so far
Up until now, stake ETH was one-way. Stakers could not withdraw it.
However, LSD solutions such as Lido appeared and allowed people to mint tokens such as stETH which are close to 1:1 trading, enabling staked ETH liquidity.
3/11
• What is the Shangai Upgrade?
The Ethereum network is set to upgrade in Apr 12th 2023.
The upgrade will bring changes to the network, including the ability to withdraw staked ETH, worth 30B USD.
Not all ETH would be able to be withdrawn at once.
4/11
• Who are the stakers?
Lido: 29%
Solo stakers: 25%
Coinbase: 12%
Kraken: 7.5%
Binance: 6.1%
Others: 20.4%
5/11
• How much ETH will be withdrawn?
Not all 15M ETH can be withdrawn at once. There is a queue for validators to gradually unlock it.
There are two types of withdrawals, partial and full.
6/11
• Withdrawal types
1. Partial: only interests out, not capital (staked ETH). Maximum amount of ETH possible to be taken is 1M or 1.6B USD
2. Full: interests + capital. Rate limited to only 54,000 ETH/day
(7 validators/epoch. 225 epochs/day) | (24*60)/6.4*7*32 = 54,000
7/11
• Sell pressure
With 50,400 max ETH withdrawable per day, that's 80M maximum potential sell pressure daily.
Last 24hs ETH trading volume was 9B according to CoinGecko.
80M is less than 1% ETH's last 24hs trading volume.
8/11
• LSD = Liquid Staking Derivatives
We also need to consider that ~57% of ETH stakers have liquid access to their ETH thanks to solutions like Lido or Rocketpool.
So these people could have sold long ago, they did not have to wait until April 12 like the other 43%
9/11
• ETH issuance in POW?
Before The Merge, block reward was 2.2 ETH per block. At an AVG rate of 15 seconds/block, that is around 11,500 ETH per day.
10/11
Some of the information from this thread was taken from this report by Binance Research: 🔗 https://research.binance.com/en/analysis/ethereum-shanghai-upgrade
And Dune: 🔗 https://dune.com/hildobby/eth2-staking
11/11
Final thoughts on Shanghai
• The Shanghai Upgrade is a crucial step in the development of the Ethereum network.
• It might cause some price movement in the short term, but for me it is bullish for the ecosystem long term.
ETH has been deflationary in the last 7 days.
Join Alpha Discord: https://earndrop.io/discord
- proof of time
- gogogo
- Today, MetaMask launched MM Bridge 🦊
Also, a Google Form to be a testnet validator in the zk-EVM solution from ConsenSys just opened 4hs ago. Fill it now!
A reminder that this year Lubin already confirmed a MM token.
Here is what you can do to try and get all airdrops: 🧵🪂
1/6
This is the WhiteFoxMask airdrop thread I made in April.
I covered using the MetaMask swap feature. If you haven't already, give it a try. It's a good way to interact with MM at a blockchain level
These smart contracts could be used for a snapshot:
https://twitter.com/OlimpioCrypto/status/1514432535685578754
2/6
Today MetaMask launched a new feature: Bridges.
It's a bridge aggregator integrated with Hop, Connext, Celer, cBridge and Polygon Bridge.
Another good way to interact with MetaMask's smart contracts, this could serve for a snapshot.
Try it now: http://portfolio.metamask.io/bridge
3/6
ConsenSys is planning to launch a rollup zk-EVM: http://consensys.net/blog/research-development/consensys-rd-launches-an-updated-and-expanded-zk-evm-version
⚡️ They have just opened applications to participate on their testnet. Be quick, they might be open for just a few hours:
🔗 https://docs.google.com/forms/d/e/1FAIpQLSc0mXdLiI7MjLNG4BfqzK4TAS7oCUnoQM5gqqI8GutKoJjQcA/viewform
Team member says there could be rewards
4/6
Infura is a infrastructure service from ConsenSys, powering web3 services and allowing developers to connect to the Ethereum network.
There is a rumour that $INFURA might be on its way.
Covered it here:
https://twitter.com/OlimpioCrypto/status/1570863149741666304
5/6
There was a (month old) early access program application to join the new "decentralized" infrastructure service that infura wants to build.
Here is the form, still works:
🔗 http://infura.io/resources/network/decentralized-infrastructure-network-early-access-program
Anyways, go to their discord to check how to get involved.
6/6
Summary:
ConsenSys owns MM & Infura, and is planning to launch its own zk-EVM rollup
• $MASK → bridge and swap using MetaMask
• zk-EVM → Fill Google Form and participate in ConsenSys testnet
• $INFURA → Fill form and get involved in their decentralized future vision
Sorry if anyone is stuck with liquidity at FTX. Let's hope it gets resolved, these have been bad days for the industry
We need to keep moving forward, that's why I am posting these news.
My advice would be to withdraw all crypto from all CEXes until there's more visibility
⚡️
- hello.lens
- hello.lens