TLDR Crypto Daily Update 2022-06-27

Coinbase derivatives 🪙, FTX talks BlockFi acquisition 💰, Solana Mobile Stack 📱

Innovation & Launches

What is SMS? (1 minute read)

The Solana Mobile Stack is a toolkit for building web3 mobile experiences for Saga, Solana's flagship mobile device. It features a secure hardware Seed Vault, platform-wide transaction signing, Solana Pay, a decentralized dApp store, and much more. Saga will ship in early Q1 2023. The Solana Foundation has started a $10 million fund to encourage the growth of mobile dApps.

Coinbase Launches First Crypto Derivatives Product Aimed at Retail Traders (2 minute read)

Coinbase Derivatives Exchange is launching its first crypto derivatives product, Nano Bitcoin futures (BIT). BIT will be available for trading through several leading broker intermediaries. BIT requires less upfront capital than traditional futures products, which could attract more retail traders. Coinbase is waiting for regulatory approval to offer margined futures contracts for its clients.
Guides & Resources

Exploring the Lensverse: One Month After Mainnet (6 minute read)

Many apps and experiences have been built across the Lens ecosystem in the month since its launch. This article looks at what the community has been working on. The projects include Lenster, a way for friends to connect and share content, Lens Leaderboard, a place that shows the most popular and active profiles, and Refract, a news site.

The ENS Subdomain management tool is now open to the public (2 minute read)

The ENS Subdomain management tool (ESF) makes it easy to configure and distribute subdomains. It lets people mint fully transferable ERC-721s that are bound to a subdomain. These NFTs can be minted for free by the ENS owner or sold for a fixed price to the public. They can be monetized or used to create gated communities.

How to get .evns domain on Evmos Network (2 minute read)

How to get a .evns domain and be eligible for Special NFT drops and token rewards.

Coinbase will introduce some changes required by local regulations (1 minute read)

Coinbase will start asking for the name and physical address of recipients and the purpose of transfer when users send assets outside of the platform.

Why would you want to decentralise Sequencers? (2 minute read)

Decentralizing Sequencers is not strictly necessary for the security of Rollups, but it may improve liveness, add layer 2 finality, and split the responsibility and rewards of producing layer 2 blocks amongst many participants.

Binance Launches New Platform for VIP and Institutional Investors (1 minute read)

Binance Institutional is an advanced platform for institutional investors.

Morgan Creek Is Trying to Counter FTX’s BlockFi Bailout, Leaked Call Shows (3 minute read)

Morgan Creek Digital, a cryptocurrency investment firm, is attempting to raise $250 million to purchase a majority stake in BlockFi. FTX recently extended a line of credit to BlockFi, but the loan gives FTX the option to buy BlockFi for essentially nothing. Exercising the option would effectively wipe out BlockFi's existing equity shareholders, including Morgan Creek. FTX's offer was the only one BlockFi received that would not subordinate client assets to the rescuer. The deal is still being negotiated.

Harmony Network's Horizon Bridge Exploited for $100M (3 minute read)

The Horizon bridge on the Harmony network was exploited for over $100 million in cryptocurrencies. The Harmony team is working with the FBI and cybersecurity firms to find the attacker. Attacks on bridges this year have resulted in losses of more than $1 billion. The attacker has not moved any funds to exchanges or privacy swap services yet. More details about how the attack was carried out are available in the article.

THORChain Mainnet Goes Live on Seven Networks; RUNE Spikes (1 minute read)

THORChain allows users to trade bitcoin for any supported asset without the use of bridges or wrapped assets.

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