TLDR Crypto 2022-01-28

The creator of Axie Infinity, Sky Mavis, is releasing a governance token for its Ethereum sidechain, the Ronin Network. RON tokens can be used for transactions and will have future utility through staking. The Ronin Network was launched in early 2021 to speed up transactions and eliminate gas fees for Axie Infinity players. It currently has 250,000 unique daily active addresses. The network is significantly more energy-efficient than Bitcoin or Ethereum.

Propy is a blockchain startup that is launching real-estate-backed NFTs in the US. The startup will begin by auctioning two residential properties in Florida in February. Once sold, the record of the property purchases will be placed on the immutable blockchain with links to the legal documents signifying ownership. The process allows people to transfer property ownership in just a few minutes. Propy plans to expand its model worldwide. It sold its first apartment in Ukraine in 2021 and has so far raised over $16 million in venture capital.

This article discusses Shutter Governance and how it could be used to improve governance in decentralized organizations. Shutter Governance is a tool for governance platforms to introduce shielded voting for their users. Shielded voting encrypts votes to create pre-voting information symmetry, censorship resistance, and partial privacy to improve voter misbehavior, voting apathy, and to fix some governance incentive systems. While it has clear advantages, using the system could increase gas costs, operational overhead, and the system's complexity in general.

After a decade of inaction, web2 platforms are finally trying to help their creators make money. web3 platforms are pioneering a new form of monetization. While creators can get millions of followers, many struggle to monetize their audience, with most followers not willing to pay extra for exclusive content. web3 allows creators to capture more value, but it is harder to create an audience. The web3 user experience is still too complex and intimidating for mainstream consumers, but many teams are working to build tools to make it more accessible.

An on-chain analyst recently revealed that 0xSifu, the pseudonymous treasury manager for Wonderland, is actually Michael Patryn, the co-founder of Quadriga, a Canadian crypto exchange that defrauded investors of around $190 million. Confidence in the project has dropped since the revelation. The Wonderland community will soon vote on whether Patryn will remain treasurer. This article tells the story of how Patryn became involved with Wonderland and other details about his past.

2021 was an eventful year for Bitcoin mining, with the topic attracting attention from both inside and outside the Bitcoin space. 2022 will likely continue the trend and the expansion of the industry will bring more jobs into rural communities. Supply chain failures and hardware constraints will continue to limit hash rate growth, making mining highly profitable. In the event of a market downturn, it is likely that larger miners will opportunistically purchase less-efficient competitors.

The Federal government is planning to use federal agencies to squeeze stablecoin issuers to ultimately benefit big banks. Allowing big banks to handle stablecoins will allow more control over the crypto economy. When Facebook first announced its intention to offer a stablecoin to its more than 2 billion users, Congress snapped to attention and blocked the development of the coin due to its potential to challenge the government's power. By controlling the stablecoin market through regulation, the government can create opportunities for tax collection and slow the growth of the crypto market. Recent actions by regulators suggest that the plan is already in action.

Canadian technology firm TerraZero has issued a mortgage to a venture capital firm for two parcels in Decentraland, one of the major community platforms within the metaverse. Each parcel was worth about $15,000 and there is a two-year repayment term on the mortgage. TerraZero purchases parcels for the client and then holds the NFTs until the loans are paid back. The price of virtual land is increasing rapidly. All 90,000-parcels available on Decentraland have been sold, with some now trading for 150% of their purchase price from months prior.