TLDR Crypto 2022-09-02

ETHPOW is a new token that will be created when Ethereum moves to Proof-of-Stake. The move to PoS will result in a hard fork due to miners who oppose the Merge. ETH holders will receive ETHPOW free of cost. Futures prices on major exchanges suggest that the token will trade at a price of at least $18 at inception.

Crypto.com has backed out of a five-year sponsorship deal with the UEFA Champions League worth $495 million. The deal was scrapped due to regulatory concerns in the UK, France, and Italy. Crypto.com has signed multiple sports advertising deals over the past year, including a 20-year naming deal with the Staples Center in Los Angeles for $700 million.

Sapphire is a 99% EVM-compatible runtime on the Oasis network. It allows for confidential state, end-to-end encryption, and confidential randomness. Sapphire developers are planning to implement a cross-chain bridge to enable cross-chain interoperability. Sapphire is currently deployed on testnet. A mainnet deployment is planned for later this year.

Quorum is the minimal number of For votes a proposal must have to pass. Dynamic quorum is a system where a proposal's quorum increases with the number of Against votes. The system allows uncontested proposals to have low quorums while highly contentious proposals will require higher quorums. While the system is an improvement overall compared to fixed quorum, it is still ineffective against a great dishonest majority voting power.

The Nitro upgrade enables the Arbitrum engine to be written and compiled in standard languages. It brings an estimated 20-50x increase in layer 2 execution speed to the network. The upgrade introduces a new stack that enables WASM fraud proofs, replaces the custom-built EVM with Geth, and rewrites the Arb0s component in Go. It increases Ethereum composability, improves cross-chain communications, and minimizes layer 1 costs.

This Twitter thread compares two crypto derivatives markets, GMX and dYdX. The derivatives market for crypto is huge. GMX and dYdX capture less than 2% of the crypto derivatives trading market, but both platforms have the potential for long-term growth. A link to an article with a deeper dive into the two protocols is available at the end of the thread.

Mt. Gox will begin repaying customers on a date to be set 'in due course'. Creditors are owed 141,686 bitcoin, 142,846 bitcoin cash, and 69,776,002,441 yen. They have until September 15 to make or transfer a claim. All creditors will receive an initial base payment and have the choice to receive either an early lump sum payment or a later payment for the remainder of their funds. No Mt. Gox coins will be released to creditors this week.

The Web3 Developer Stack is the ecosystem of companies that empower developers with infrastructure and tooling to build on top of crypto network primitives. Building in web3 requires specialized expertise to interface with the complex infrastructure. Improved tooling will help onboard millions of developers. Coinbase Ventures will invest in the next generation of developer tooling to help onboard developers into web3.

ADA's trading price was mostly unaffected by the announcement.

Security measures in DeFi are going from reactive to proactive.

Coinbase Cloud’s Solana Archival Nodes can examine historical address balances, run complex queries, and simulate the blockchain state at any given point in the chain’s history.

Initial participants of the sandbox include California-based crypto firm Ripple, Digital Asset, EMTECH, and Knox Networks.

This article features stories from three women about their experiences with dating crypto bros.

Celsius is filing for a narrow re-opening of withdrawals and not every customer will be eligible.