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TLDR Crypto 2022-05-02

$320M BAYC metaverse launch πŸ’, Solana crashes β˜€οΈ, defending bridge attacks πŸ›‘οΈ

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Innovation & Launches

Leading NFT Marketplace OpenSea Now Accepting ApeCoin (1 minute read)

NFT marketplace OpenSea is now accepting ApeCoin. ApeCoin is now the largest metaverse token by market cap. It has grown more than 33% over the last week.

Introducing the Basepool (3 minute read)

The Basepool is a proposed partnership between MakerDAO and Curve Finance to form a new Curve stableswap pool consisting of DAI, USDC, USDP, and GUSD. This will provide a variety of on and off-ramp options for users and link users to the DAI credit system and vaults. The pool aims to build up substantial liquidity from risk-averse investors and give higher risk-adjusted returns. More details about how the Basepool will work are available in the thread.

Bored Ape Yacht Club creator’s metaverse mint rocks the Ethereum blockchain (4 minute read)

Yuga Labs' Otherdeed NFT mint raised around $320 million. Otherdeeds are NFTs representing virtual plots of land in Yuga Labs' upcoming Otherside metaverse project. A total of 55,000 NFTs sold for 305 ApeCoin each. Gas fees soared during the sale, with some buyers paying up to 5 ETH in fees alone. The sale also caused disruptions to the Ethereum network, slowing down transactions on Ethereum-based services and causing users to lose gas fees due to failed transactions. Yuga has apologized for the disruptions and has promised to reimburse users gas fees associated with failed transactions.
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Guides & Resources

Solidity Patterns (Website)

This site hosts a collection of design and programming patterns for Solidity version 0.4.20. Each pattern contains a code sample and a detailed explanation. Sections include Behavioral patterns, Security patterns, Upgradeability patterns, and Economic patterns. Newer versions of Solidity may have changed some of the functionalities.

🧡 on the Rainbow Bridge attack today (4 minute read)

A recent attack on the Rainbow Bridge was stopped automatically with no funds lost. The Rainbow Bridge is a service on Aurora, an Ethereum-compatible scaling solution built on Near that allows users to transfer tokens between the Ethereum, Near, and Aurora networks. Its architecture is designed to resist attacks, and the attempt resulted in the attacker losing 2.5 ETH due to fees. The Rainbow Bridge team will redesign parts of its security to make future attempts more costly for attackers.

How I consistently make 80-100% APR on #stablecoins in a "relatively" low risk and stable manner (2 minute read)

This Twitter thread introduces two staking services that have proven to perform in all market conditions over three years. Yield Nodes is a managed masternode service with a doxxed team and transparent audits. It has been running for three years with an average return of 10% per month with BTC or USDT. crypto4winners has been running since 2019 and offers consistent 6-8% returns per month in BTC, ETH, and USDT. It is licensed out of Sweden and it keeps half of its funds in a Ledger Vault for insurance.

"@yugalabs wrote a terrible smart contract" (2 minute read)

This Twitter thread explains some of the flaws in Yuga Labs' Otherdeeds smart contract. The contract used the ERC721Enumerable extension in order to make the NFT's token IDs trackable, but using it caused a significant increase in gas fees. Using ApeCoin to buy the NFTs caused users to pay more in gas than if they had used ETH. The minting method used was also inefficient.
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Miscellaneous

Seven-Hour Solana Crash Blamed on Bots Swarming Candy Machine (2 minute read)

Solana crashed for nearly seven hours on Saturday due to bots flooding the network while using an NFT minting tool. The bots submitted more than 4 million transactions a second and generated more than 100 Gbps in traffic. Validator operators were able to restart the network by coordinating through Discord. Solana's token price dropped during the outage but has mostly recovered since.

No bullshit I think I just interviewed a North Korean hacker (5 minute read)

This Twitter thread details an interview experience with a potential North Korean hacker. North Korean hackers have been targeting major protocols and individuals. While the attack vector in this case wasn't clear, the story is a reminder that anything could be an attack vector, including hiring, events, and travel. Never download attachments and keep wallets isolated on their own machines.

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New York, NY, 10011