TLDR Crypto 2022-06-07

Binance has invested an undisclosed amount into PancakeSwap, a decentralized exchange built on the BNB Chain. The investment will help PancakeSwap further develop its technology, marketing, and community support. PancakeSwap is now the biggest decentralized app on Binance's BNB Chain with more than 400,000 users. Its CAKE token was up nearly 10% following news of Binance's investment.

Cell Protocol is a smart automated market maker that uses bots to try to provide liquidity. It currently has $250,000 in total value locked. Cell Protocol plans to integrate with decentralized exchanges on multiple blockchains to become a unified liquidity layer across DeFi. It will start by integrating with DEXs on Solana before expanding onto other blockchains.

This Twitter thread makes predictions on what the ETH yield and price will be after the Ethereum Merge. The estimated yield for ETH after the Merge is between 7% to 13%. ETH is predicted to be at $6,100 after the Merge. The data used to make the predictions is available in the thread.

Executing large trades on Uniswap's Automated Market Maker will result in large fees and slippage even in the most liquid pairs. Time-Weighted Automated Market Makers (TWAMMs) break large orders into infinitely small virtual orders distributed over a long period. This ensures low gas prices and overall transaction fees. They can be canceled at any time by paying gas fees. A link to an article explaining the mathematical implications of the TWAMMs model is provided at the end of the thread.

Lens Protocol is a social graph protocol developed by Aave. It currently allows users to follow other users, create publications, and collect fees. There are several communities that can claim Lens handles right now. A list of the eligible communities and instructions on how to claim a Lens profile is available in the thread.

A function in the Bored Ape Yacht Club smart contract allows a single non-multi-sig wallet to mint an unlimited number of new Apes. The wallet is still active. It has the ability to arbitrarily change the metadata associated with existing apes. BAYC claimed that they would revoke access to the function over a year ago. The value of the BAYC collection may be affected if the wallet decides to mint more NFTs.

Last week, 99% of votes for the proposal to keep APE within the Ethereum ecosystem favored keeping APE on Ethereum. Three ApeCoin whales recently committed 708,000 APE against the proposal, making the vote now 55% in favor of keeping APE on Ethereum. Voters against the proposal only need 300,000 APE to swing the vote in favor of migrating ApeCoin off Ethereum. Voting on the proposal concludes on June 9.

A seven-story building in Manhattan's Flatiron District has been listed on OpenSea as an NFT. Purchasing the NFT will result in ownership of the property deed after the standard process for transferring real estate is complete. Real estate properties and sales are one of the best use cases for NFTs. There are still gaps between the blockchain and existing government infrastructure that need to be solved. A picture of the property is available in the article.