TLDR Crypto 2022-04-26

OpenSea buys Gem ๐Ÿ’Ž, NEAR stablecoin launch ๐Ÿช™, understanding subnets vs L2s ๐Ÿ’ก

Innovation & Launches

OpenSea Acquires Ethereum NFT Aggregator Gem in Push for 'Pro' Users (4 minute read)

OpenSea has acquired NFT marketplace aggregator service Gem. Gem allows users to batch-buy NFTs from multiple platforms to save on fees. Its integration into OpenSea will serve more experienced users and offer more flexibility and choice to all users. Gem will continue operating independently. OpenSea remains the biggest player in the competitive NFT market by a sizable margin.

Meet $USN, the first NEAR-native stablecoin by Decentral Bank! (2 minute read)

USN, a new stablecoin, can now be minted using NEAR through the Near web wallet. It can also be swapped for USDT on Ref Finance's StableSwap. USN maintains its peg through on-chain arbitrage and a self-balancing Reserve Fund managed by Decentral Bank, a DAO created to manage the fund and main smart contract operations. The first USN lenders will likely receive over 20% APY.

Shiba Inu Launches โ€˜Burning Portalโ€™ to Reward SHIB Token Holders (3 minute read)

The team behind Shiba Inu has launched a burning mechanism to decrease the token's circulating supply. Users who burn their tokens will receive burntSHIB, a token that pays rewards in RYOSHI tokens. RYOSHI is an ERC-20 token timed at supporting the growth of the SHIB ecosystem. Over 8 billion SHIB tokens were burned in the first 24 hours after the burning mechanism was launched.
Guides & Resources

Hereโ€™s your guide to farming blue chips (3 minute read)

This thread covers different ways to earn yield on ETH, LUNA, AVAX, and BTC. Yields on LUNA and AVAX can be increased through borrowing strategies. BTC can be staked through Celsius. There are many ways to stake ETH. A link to a thread on staking ETH is provided.

Uniswap Smart Contract Breakdown (10 minute read)

Uniswap is a protocol that allows users to swap one ERC20 token for another through a decentralized exchange. It uses an Automated Market Maker technique for its exchange where liquidity providers make tokens available for trade in exchange for a portion of trading fees. This article looks at the code that powers Uniswap v2. It explains how the code works before getting into the specifics.

So I have a framework on how I think about cultural objects (5 minute read)

Cultural objects are the brands, ideas, myths, and memes that are common to a group or society. They can be global, national, local, or work/hobby related, but everyone has a limited number of cultural objects that they can know or relate to. Cultural objects that reach larger populations have more power. However, artists and creators who focus on a niche have a better chance of success than those who try to go global. Becoming the best at the local, community, industry, or hobby level is better than being the 489th best in the world.

Subnet vs. L2 a thread (3 minute read)

This Twitter thread discusses subnets, layer 2s, and blockchain scalability. Subnets allow users to deploy pre-built blockchains with common standards that use the same validators. Layer 2s outsource the execution layer and let the main chain handle consensus and data availability. Both solutions scale execution throughput, but layer 2s don't sacrifice security for increased transactions per second. Subnet solutions are great for deploying new chains with low overhead.

Building an Economy Within a DAO (10 minute read)

Decentralized Autonomous Organizations (DAOs) are emerging as a defining coordination mechanism. This article discusses how DAOs can build sustainable internal economies, use native tokens and treasuries, and learn from past examples to reach their full potential. It examines successful economic strategies and explains how these strategies can be applied to DAOs.

NFTs Stolen After Bored Ape Yacht Club Instagram, Discord Hacked (2 minute read)

A hacker posted a fraudulent link on Bored Ape Yacht Club's Instagram account, resulting in around 4 Bored Apes, 7 Mutant Apes, and other NFTs being stolen. The link claimed to lead to a page that allowed users to mint land in the upcoming Otherside game due to launch this week. Yuga Labs has removed all links to Instagram from its platforms and is attempting to recover the account. The company estimates the total losses from the scam to be around $3 million.
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