TLDR Crypto 2022-08-31

Ever asked yourself “what’s the best web3 wallet in crypto”? Then you should check out this new web3 solution that’s making headlines, and for good reason:

The Aurox Wallet is the most secure wallet to protect your crypto and NFTs – plus it also unlocks gasless trades, NFT whitelists, token airdrops, a private Discord server, and more.

To access the benefits, you simply use Aurox Wallet just like you would use your regular web3 crypto wallet. 

These exclusive premiums are free, but reserved for a very limited number of people. 

Reserve your spot for the launch and unlock rewards [Limited]

DeFi lending protocol Compound has suffered a critical failure that effectively halted the trade of Compound Ether. A bug in the code caused transactions for suppliers and borrowers of ether to revert. It was introduced during an update aimed at the price feed. The code for the update was audited by three separate teams. A fix will be implemented in the next proposal, which will take seven days to go into effect.

OptiFi, a derivatives-focused DeFi platform on Solana, accidentally closed its mainnet due to a programming blunder and locked away $661,000 in USDC. OptiFi will return all users' deposits and settle positions manually. 95% of the total value locked on OptiFi belonged to one of its team members. This is one of the first cases where a programming error has resulted in the complete loss of customer assets.

OpenSea has integrated Polygon into its Seaport protocol. The platform will start using Seaport for all new listings and offers on Polygon. OpenSea plans to add Seaport support for Klaytn and other EVM-compatible chains in the coming months. Users are now able to use MATIC to list and buy on OpenSea. Gas fees for transactions on Polygon using OpenSea are paid in MATIC.

BNB Chain has introduced liquid staking with Ankr, Stader, and pStake. Users who stake using liquid staking receive tokens with an equivalent value that are fully transferable. These tokens can be traded or unwrapped to reclaim staked assets. Liquid staking has become more popular as Ethereum moves towards becoming a Proof-of-Stake system.

Arbitrum Nitro will make the Arbitrum network faster and cheaper to use. Users will experience a seamless transition when the upgrade is implemented on August 31. Arbitrum Odyssey is expected to resume shortly after Nitro is deployed. This article introduces many of the projects that are currently or will soon be on Arbitrum.

This Twitter thread tells the story of how Maker went from onboarding a US Commercial Bank to discussing how to depeg from the US dollar in less than two months. It covers the internal factions in MakerDAO and the impact of events such as the Huntingdon Valley Bank deal, the lending oversight vote, and the Tornado Cash sanctions. The events have caused the DAO to consider moving away from real world assets and become more decentralized.

Multi-sig smart contract wallets are much safer than wallets like MetaMask or any hardware wallet. These wallets require at least two wallets to approve any transfer of funds. Hackers are unable to move funds if they steal only one wallet. Lost wallets can be replaced as long as the other signer wallets are still available. Examples of multi-sig smart contract wallets include Gnosis Safe and Argent.

Helium's core developers have submitted a proposal to move the network from its custom blockchain to Solana. The developers believe that the move will improve Helium's speed, stability, and ability to serve more users. The HIP 70 proposal can be voted on by token holders between September 12 and September 18. There is no timeline for the migration. A link to the proposal is available in the article.

A general purpose chain can't profitably host an order book and the only solution is an order book-specific appchain with application aware pricing.

Proof's third NFT collection will be a 20,000 profile pic collection called Moonbirds Mythics.

Specular is an EVM-native optimistic rollup that provides stronger security and decentralization properties than existing EVM-equivalent optimistic rollups.

This Twitter thread discusses how Maker plans to make DAI an unbiased world currency.