TLDR Crypto 2022-05-27

OpenSea has redesigned its profile and collections pages. The redesign makes the site easier to navigate. Profile pages now look similar to Twitter and Etsy's, and the collection page looks more modern and puts less emphasis on metrics. NFT sales are declining, but close to 124,000 people used OpenSea in the last week. Screenshots showing the new changes are available in the article.

Tether added a token pegged to Mexico's peso on Thursday. MXNT will initially be supported on the Ethereum, Tron, and Polygon blockchains. 40% of Mexican companies are interested in adopting blockchain and crypto in some way. Mexico was the third-largest recipient of remittances worldwide in 2021. It received $51.6 billion from nationals living abroad. Other large crypto players such as Coinbase, Bitso, and Circle have also launched services in the country.

Hotels and resorts are converting room rights for sale into NFTs that can be bought or sold by guests. The NFTs allow owners to get paid for the rooms and guests are able to sell their reservations on the market if they decide not to go. Some businesses let guests use the tokens for other hotels. The industry is young and there are still problems to solve, for example, figuring out how to verify the identity of guests who buy tokens from other guests.

Hotels and resorts are converting room rights for sale into NFTs that can be bought or sold by guests. The NFTs allow owners to get paid for the rooms and guests are able to sell their reservations on the market if they decide not to go. Some businesses let guests use the tokens for other hotels. The industry is young and there are still problems to solve, for example, figuring out how to verify the identity of guests who buy tokens from other guests.

Keeping up with DeFi is hard. Crypto asset management platforms use pros to help curate strategies and assets to help regular people beat the market. Public asset management involves investment strategies that are available to everyone, usually in the form of indexes. Private asset management protocols help private groups pool money together to invest. This article explains the different types of crypto asset management platforms and introduces three currently existing protocols: Babylon Finance, Set Protocol, and Enzyme.

Equilibrium Auctions are an attempt at dynamically changing NFT mint prices with demand. They have a function that lowers the price of a mint the longer it has been since the last mint. Another function raises the price every time someone mints a new NFT. These two mechanisms work to keep minting prices in an optimal window without explicitly knowing that price beforehand.

This article provides a broad yet nuanced understanding of Ethereum's roadmap. Ethereum's ultimate goal is to scale computation without sacrificing decentralized validation. Some centralization is needed to scale, but this will be kept in check with decentralized and trustless validation. Danksharding will help Ethereum achieve its vision of a unified settlement and data availability layer.

While many automated stablecoin designs are fundamentally flawed, there are many that are highly robust in theory. In this article, Vitalik Buterin presents two thought experiments that can help determine if an automated stablecoin is truly stable. The first involves seeing whether the stablecoin could safely wind down to zero users and the second involves figuring out what would happen if the stablecoin was pegged to an index that increased by 20% per year. Stablecoins that pass these tests could still have other weaknesses, but steady state and extreme-case soundness should always be one of the first things to look for.

MetaMask is partnering with Asset Reality to create a service that will make the process of recovering lost crypto less miserable. There is a new section on MetaMask's website that allows users to report funds lost to hackers and supply details about the hack. Asset Reality will help hacking victims band together and put them in touch with lawyers, forensic services, and law enforcement. It will help trace stolen assets and warn marketplaces if they are being used to sell stolen goods.