TLDR Crypto Daily Update 2022-03-07

Web3 notifications πŸ””, understanding on-chain activity ⛓️, the blockchain development guide πŸ‘¨β€πŸ’»

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Innovation & Launches

YC-backed Blocknom wants to become the β€˜Coinbase Earn of Southeast Asia’ (2 minute read)

Blocknom is a DeFi app that gives users a secure way to get stable, high-yield interest of up to 13% per annum. Its focus is on encouraging users to save and hold stablecoins for the long term. The platform recently raised $500,000 in pre-seed funding from Y Combinator, Number Capital, and Magic Fund. Its founders decided to build the platform when they realized there were no competing products in Indonesia.

Notifi Is Latest Startup Trying to Crack Web 3’s Push Notification Problem (1 minute read)

Notifi is a company that aims to create better communication rails for crypto projects and wallets, starting with the Solana and Terra ecosystems. The company has raised $2.5 million in pre-seed funding. It aims to help traders monitor, manage, and operate DeFi trading positions better through notifications. Notifications could also be useful in governance, gaming, and other web3 areas. Notifi's protocol will be available for any project regardless of chain.

Algorand Upgrade Set to Allow for Easy Creation of Complex Dapps (1 minute read)

The Algorand blockchain has released a major technical upgrade with support for cross-chain interoperability and changes to help developers easily build complex decentralized apps on its network. Contract-to-contract calling will allow applications to trustlessly interact with other smart contracts. Contracts will now be able to call on other contracts directly. The upgrade also introduces a feature that will allow Algorand to be accessed in low-power environments and other blockchains.
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Guides & Resources

Tokenomics 102: Digging Deeper on Supply (11 minute read)

This article looks at how the quantity of tokens affects the perceived health of a project. Understanding token supply is one of the biggest factors in becoming a successful investor. It can be easy to get the wrong impression about the supply of a project as metrics can be misleading or manipulated in unexpected ways. Reading the project's docs can help uncover subtle details that public information dashboards are missing.

Devpill - A Public Good Blockchain Development Guide (1 hour read)

This guide on blockchain development provides resources and commentary on how to approach and use the resources to maximize learning and understanding in order to build things as soon as possible. It focuses on the Ethereum ecosystem. The guide is still a work in progress.

Where the Funds Flow: an Introduction to On Chain Forensics (6 minute read)

One of the key properties of a blockchain is transparency. Anyone can validate the entire state of the blockchain, view transactions in real-time, and see the entire balance of an account without needing access to an expensive data terminal. This article covers the basics of fund movement, how to track funds, and how to disguise the movement of funds. Tracking has a variety of purposes, such as doing due diligence on projects and hunting down scammers.
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Miscellaneous

Dozens of Tokens Tumble as Prolific Developer Andre Cronje Calls It Quits (2 minute read)

Andre Cronje is no longer developing in decentralized finance and has deleted his Twitter account and updated his Linkedin to reflect the changes. The market reacted violently to the news, with some projects dropping in value by as much as 75% after the announcement. Cronje's exit will not impact the operations of many of the protocols he was involved with. His work is open source, so anyone can continue hosting or updating the services he created.

Convex Finance Bug Causes CVX Token to Sink on Forced Token Unlock (1 minute read)

Convex Finance has redeployed the smart contracts responsible for its vote-locking governance system after it discovered a bug that could have resulted in disproportionate rewards for some users. The bug was not exploited prior to the deployment of the new contracts. Convex's vote locking system plays a key role in managing CVX's circulating supply. The team had to unlock its tokens to redeploy the smart contracts, resulting in a significant supply shock that dropped the price of the token by up to 20%. Many users opted to re-lock their tokens rather than selling.

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