TLDR Crypto Daily Update 2022-02-01

NFT lending 🖼️, DAO liquidations 📉, understanding stablecoins

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Innovation & Launches

Litecoin’s long-anticipated MWEB Upgrade is released (3 minute read)

Litecoin has launched the MimbleWimble (MWEB) protocol, the most significant upgrade in Litecoin's 10 years of development. MWEB is a privacy-oriented decentralized protocol. It provides complete anonymity by keeping the sending address, receiving address, and amount of crypto sent in a transaction secret. Litecoin users can opt to use the protocol to make their transactions confidential. The upgrade is expected to increase the coin's fungibility and scalability. More details about how MWEB works are available in the article.

Arcade Launches NFT Lending Platform as Blue Chips Hold Strong (2 minute read)

Arcade has launched an NFT lending platform to bring liquidity to the NFT market. The platform provides users with access to fixed-rate loans collateralized by their Ethereum-based NFTs through an escrow system. Arcade has more than $15 million locked up in blue-chip NFTs and $6 million in loan volume. The NFT lending market is still new, but loans have already been issued for assets like virtual land and other metaverse items.
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Guides & Resources

Regulating the Metaverse(s)

The Metaverse will be a place that will function around and beyond traditional sovereign borders. As with all types of emerging technology, regulators will arrive late to the game. This article discusses the idea of regulating the Metaverse and how it could be done. It covers important topics such as rights in the Metaverse, censorship, abuse, exploitation, protection, taxes, and much more. We are still far away from a true Metaverse, but now is the best time to start thinking about how it should be governed.

'We're Freaking DAOing It': The People Who Think DAOs Are the Future of Work (13 minute read)

DAOs could be the future of work, with many finding their structure empowering. In a decentralized autonomous organization, everyone gets to feel like a CEO or founder. Members are rewarded for their merits and they can work on projects they find interesting. If a member finds an area in the DAO they can add value to, they can suggest it and be compensated for their work. This article discusses DAOs and how they are structured to encourage people to do the work they want to do and get rewarded for it. While the work-life balance may put some people off, many find the work at a DAO to be fun and rewarding.

What's the Point of Stablecoins? Understanding Why They Exist (6 minute read)

This article discusses the different types of stablecoins, why they are used, and how to choose the right stablecoin to use. There are four types of stablecoins: fiat-backed, cryptocurrency-backed, commodity-backed, and algorithmic. Stablecoins exist to make cryptocurrency more predictable and to provide a convenient way for crypto traders to preserve their fiat value without having to cash out of the market. They generally work the same as other cryptocurrencies, but their value is linked to a reserve of external assets rather than by the market.
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Miscellaneous

A DAO has amassed a trove of Bored Ape Yacht Club NFTs worth millions— its members may vote to sell them to close estimated 50% valuation gap with their token (2 minute read)

ApeDAO, a decentralized autonomous organization that offers its token holders diversified exposure to a collection of popular NFTs, may be forced to liquidate its assets due to a valuation gap between the tokens and the assets they represent. Before the vote was proposed, the value of the token was up to 50% below the value of the NFTs the DAO held. It soared up to record highs after the proposal went live. The current poll results are in favor of selling, and the voting period ends on February 2.

Coinbase adds Shopify CEO to its board of directors (1 minute read)

Coinbase is adding Tobi Lütke, co-founder and CEO of Shopify, to its board of directors. Lütke has a wealth of expertise in online commerce and accessible tech that will be valuable for developing cryptocurrency applications. Shopify has enabled Bitcoin payments since late 2013. It has partnered with Coinbase since 2014.

This Marathon Is Among the First IRL-Metaverse Mashups (2 minute read)

Raramuri, a virtual sporting company, is hosting the first-ever marathon in the metaverse on June 2. Participants in the race will track their real-life runs using their mobile phones and watches. A virtual avatar will track the data and follow the participant in a virtual course. Spectators will be able to watch the race on the virtual course and send emotes or NFTs to runners as they pass by. Runners are encouraged to dress up their avatars to make the race more theatrical. Participants who complete the marathon will receive a digital asset to commemorate their experience.

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