TLDR Crypto 2024-09-04

You might have missed out on Oasis tickets, but you can still grab a seat at Meridian. The Stellar Development Foundation's annual London conference is a must-attend for anyone in the blockchain space.

👉 If you're a developer, you can still get tickets for just $49! 👈

→ You'll get full access to 3 days of amazing content, including the by Idris Elba; plus F2F networking and memorable experiences, a Welcome Cocktail, and Gala Dinner.

→ The developer track also features an innovation showcase, hackathon, and plenty of room to explore the latest developments in web3.

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At Korea Blockchain Week, SEC Commissioner Mark Uyeda said the SEC should create an S-1 security registration form specifically for digital assets. He hopes the regulator can work with crypto companies to find the proper way to handle registrations. Uyeda is one of the few crypto-friendly members of the SEC.

The FBI issued a Public Service Announcement warning that North Korean hackers are attempting to steal funds from US crypto ETFs. Over the past several months, hackers have used advanced social engineering techniques on employees within the crypto industry to attempt to access company crypto. Their tactics include personalized scenarios, impersonating trusted contacts, and faking job offers.

Arbitrum Stylus, which allows for deploying smart contracts written in WebAssembly (WASM)-supported languages on Arbitrum's L2s, is now live on the mainnet. This marks the first time an EVM-compatible chain also supports popular languages like C, C++, and Rust, attracting tens of millions of potential developers. Since WASM programs are more efficient, they allow for more complex cryptographic tasks.

Polymarket has been integrated into Bloomberg Terminal, marking a shift toward mainstream use of predictive markets. This development reflects a growing reliance on Polymarket forecasts for understanding global events, as its data is now featured in Bloomberg's election tools.

This article compares liquidation processes in traditional DeFi lending markets with Fluid's approach. In markets like Aave, liquidations can result in users losing 50-100% of their collateral. In contrast, Fluid minimizes user losses by incrementally liquidating only as needed to bring a position below the liquidation threshold and applying a much smaller penalty.

Ethervista, a new Ethereum-based DeFi project, is gaining attention for its innovative fee and liquidity mechanism. It offers a fair launch with a deflationary token model and potential future features like lending and flash loans. While it's early, the project targets a gap in Ethereum's DeFi space, appealing to users frustrated by the lack of new developments. Caution is advised with liquidity unlocking soon, which may cause price fluctuations.

Community is the foundation of ecosystem growth, as engaged members can attract developers and infrastructure providers. Qualitative community experiences are more important than quantitative metrics at early stages, and short-term incentives are only beneficial if there is a strong culture for retention. Promoting talent within the community and delegating trust creates loyalty and engagement, and a human-centered onboarding process helps with interest.

Binance Research finds that Web3 lags significantly behind Web2 in user adoption and retention. The two main challenges are excessive speculation and an overemphasis on infrastructure at the expense of consumer-facing products. Mainstream adoption requires dapps with real utility, expanded distribution channels utilizing Web2 ecosystems, and improved mobile accessibility.

World Liberty Financial, a crypto project tied to Donald Trump and his sons, has raised concerns due to its team's past association with Dough Finance, a DeFi platform that was hacked for $2 million. The project's white paper outlines plans for a decentralized borrowing and lending service, with a governance token, WLFI. Several team members, including former pick-up artist Zack Folkman, have controversial backgrounds, raising questions about the project's legitimacy and long-term prospects.

The EVM is expected to remain dominant with regards to smart contract development due to its extensive network effects and large amount of documentation and guides that ease development hurdles.

To effectively enter the Korean crypto market, it's important to understand local preferences, regulatory climates, and the builder landscape, with special attention to sectors like IT and gaming.

Though DeFi has its fair share of issues, this author expresses optimism about its future and predicts that traditional finance yields will become accessible onchain through Real-World Assets.

The Japanese Financial Services Agency's 2025 tax reform includes new guidelines for taxing virtual currency transactions, prompting investors to advocate for a reduction in the crypto tax rate from a max of 55% to a uniform rate of 20%.

California's heat wave in 2022 showed the potential of Virtual Power Plants (VPPs), where households help stabilize the grid by managing energy use.