TLDR Crypto Daily Update 2022-04-13

Robinhood lists Solana โ˜€๏ธ, frontrunning Coinbase ๐Ÿ‘จโ€๐Ÿ’ป, avatar ecosystems ๐Ÿง

Innovation & Launches

Robinhood Adds SHIB, Solana, Compound, and Polygon's MATIC (1 minute read)

Robinhood has added support for several more digital assets, including Shiba Inu, Solana, Polygon, and Compound. There was no official announcement on the listing of the new assets. Robinhood announced plans to add the Bitcoin Lightning Network on its platform last week.

Avatar Platform Genies Now Worth $1B After $150M Series C Round (2 minute read)

Genies has raised $150 million and is now valued at $1 billion. The tech startup is developing a custom avatar-based metaverse platform for Gen Z. Genies has launched an invite-only marketplace on Dapper Labs' Flow blockchain. It has forged partnerships with Warner Music and Universal Music Group to make virtual avatars and NFTs centered on the labels' artists. Users will have full commercialization rights over their characters.
Guides & Resources

The Alpha Archives (Website)

The Alpha Archives contains a collection of resources on crypto. The resources cover topics such as technology, concepts, projects, and much more. The page will be constantly updated.

A ๐Ÿงต on answering these questions on AVAX and clearing a few misconceptions along the way (4 minute read)

Terra and the Luna Foundation Guard recently bought $200 million in AVAX to boost UST stability and adoption. UST adoption will rise in the coming months thanks to the Curve War and this new partnership. Terra and Avalanche also plan to collaborate on a new gaming subnet. This Twitter thread explains how AVAX will help stabilize UST, how AVAX will coexist with BTC to control the supply of UST, and how using AVAX will impact LUNA's value.

Today, The @Cosmos Theta upgrade quietly went live (3 minute read)

The Cosmos Theta upgrade is now live. The upgrade introduces Interchain accounts, a module that grants blockchains the ability to open up their native functionalities as an API. Interchain accounts will unlock new interchain services and business models, increase composability, increase cross-chain activity, and streamline the user experience on the Cosmos ecosystem. The upgrade will mean that single-chain businesses will be able to transition to interchain native business models. More details on the Theta upgrade and Interchain accounts are available in the thread.

How Ichi Tokens Plunged 90% After Bad Debt Fiasco on Rari (3 minute read)

Ichi's governance tokens plunged 90% in 24 hours after a series of cascading liquidations in its pool on Rari. Rari is a yield-generating platform that allows users to supply or borrow any asset in its Fuse pools. Ichi allows users to mint stablecoins by backing each token with $1 in value. The Ichi pool on Rari allowed users to borrow extensively against uncapped capital, resulting in cascading liquidations. There were several steps the Ichi developers could have taken to ensure that risks related to the pool were contained.

Ethereum Trader Bought $400K in Tokens on Coinbase Shortlist โ€” Before It Was Public (3 minute read)

Coinbase recently published a list of the latest tokens being considered for listing on its exchange. Hours before the post was made, an Ethereum wallet purchased more than $400,000 worth of tokens on the list. The trading activity is publicly viewable on the Ethereum blockchain. The wallet was trading up until three minutes before the list was made public. The tokens purchased by the wallet increased in value by 42% less than 24 hours after the public announcement.

Chris Dixon thinks web3 is the future of the internet โ€” is it? (1 hour read)

Chris Dixon leads crypto investing at venture capital firm Andreessen Horowitz. He led the funding rounds for Coinbase, OpenSea, and Yuga Labs. This article features a transcript of an interview with Dixon on web3, Andreessen Horowitz, NFTs, the metaverse, and much more. The full audio interview is available.

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