TLDR Crypto Daily Update 2022-03-29

Digital dollar proposal 💵, crypto portfolio construction 📈, understanding Polkadot 💡

Innovation & Launches

Fantom Domains Reservations week (2 minute read)

Reservations for Fantom domains with five letters or more started on March 28 and will continue for a week. There will be a maximum of 1,000 reservations. It will cost 30 FTM to reserve a domain name, with a maximum of five reservations per address. This article contains a guide on how to reserve a domain.

US Lawmakers Introduce 'ECASH' Bill in New Push to Create a Digital Dollar (2 minute read)

The Electronic Currency And Secure Hardware (ECASH) Act introduced on Monday directs the US Treasury Secretary to develop and issue a digital dollar. The bill defines the electronic dollar as a token-based bearer instrument that can be held on a phone or card. It will be deemed legal tender and functionally identical to the physical dollar. The system will support anonymous peer-to-peer transactions. More details about the ECASH Act are available in the article.
Guides & Resources

Terra : Programmable money for the future of the internet (4 minute read)

Terra is a layer-1 blockchain and a payments-focused financial ecosystem powered by scalable algorithmic stablecoins. This Twitter thread introduces the Terra ecosystem, its native token LUNA, and UST stablecoin. It covers the history of the protocol's development, its dual token mechanism, how UST maintains its peg, and more.

Arguably the most misunderstood ecosystem in crypto is Polkadot (2 minute read)

Polkadot consists of two components, a base layer and sovereign layer-1s (parachains). The base layer, or Relay Chain, houses all validators and it connects, governs, and secures the parachains. Parachains are highly customized, application-specific layer-1 blockchains. The Relay Chain's decisions outrank parachain decisions if disputes ever arise. Polkadot currently has 11 parachains that bring novel functionality and use-cases to the ecosystem. A link to a report that takes a deep dive into the 11 parachains is available.

Staking is a common element in crypto token designs (6 minute read)

Many tokens allow staking. Staking was originally a method for securing Proof-of-Stake blockchains, but newer blockchains have implemented staking within apps. The term 'staking' now describes any utility use of tokens in applications that require the tokens to be put into escrow via a smart contract. This Twitter thread discusses the different types of staking and how they work.

Chainlink 101: the decentralized oracle (4 minute read)

Chainlink's oracle networks provide tamper-proof inputs, outputs, and computations for smart contracts on any blockchain. Its technology is helping bring web2 products and services to web3. This Twitter thread covers how Chainlink's decentralized oracles work, its use cases, LINK and how it is used, and much more.

Here's how to build a solid Crypto Portfolio in 2022 (6 minute read)

This Twitter thread gives advice on how to build a crypto portfolio. It provides several investing frameworks. The main goal of a portfolio is to lower risks and increase rewards while sticking to personal risk tolerance, goals, and timelines. Many investors are too aggressive and buy too many different coins. Investors should focus on asset classes they believe will last in the long run.

Someone Just Sold a Bored Ape Ethereum NFT for Only $115 (3 minute read)

A seller sold Bored Ape #835 and a Mutant Ape Yacht Club NFT for a fraction of the current going rate for both NFT collections. Some on social media have theorized that the seller thought the offers were for ETH rather than DAI. It is also possible that the sale is a result of an exploit or part of a tax loss harvesting scheme. The buyer redeemed 12,136 ApeCoin tokens with the NFTs, worth around $181,000.

Keep Up With Crypto in Just 5 Minutes

Kepp Up With Crypto in Just 5 Minutes

Cut through the noise with our daily newsletter, get links and summaries of the newest innovations, tools, and launches in the crypto ecosystem

Join 120,000 readers for one daily email
515 W 18th St. Unit 621
New York, NY, 10011
515 W 18th St. Unit 621
New York, NY, 10011